RITES (RITES) Q4 24/25 earnings summary

Executive summary

• Achieved a record order book of up to INR 8,900 crores (₹8,877 crore) at FY-end, with over 500 new orders totaling more than INR 5,000 crores during the year.

• Audited standalone and consolidated financial results for FY 2024-25 were approved, with an unmodified audit opinion from statutory auditors.

• Q4FY25 profits rose on strong consultancy performance, but full-year revenue and profits declined due to lower exports and turnkey execution.

• Board recommended a final dividend of ₹2.65 per share, with a total payout ratio of 95.4% for FY25.

• Appointment of an additional independent director for a three-year term was approved.

Financial highlights

• FY25 consolidated revenue from operations was ₹2,217.81 crore, down from ₹2,452.85 crore in FY 2023-24; standalone revenue was ₹2,095.31 crore.

• FY25 consolidated PAT declined to ₹423.66 crore from ₹495.20 crore in FY 2023-24; standalone PAT was ₹380.22 crore.

• Q4FY25 standalone revenue was ₹623 crore, PBT ₹182 crore, and PAT ₹134 crore.

• EBITDA margin for FY was 23-23.8%, with PAT margin at 18%; Q4 margins were higher but not indicative of the full-year trend.

• Dividend payout ratio maintained at 95.4% for FY25, with a final dividend of ₹2.65 per share and three interim dividends totaling ₹4.90 per share.

Outlook and guidance

• Targeting 20% top-line growth and commensurate bottom-line growth for FY 2026, aiming for record-high revenue and profit.

• EBITDA margin expected to normalize around 20%, with PAT margin at 15-16% for the coming year.

• Export revenue expected to rebound significantly after two years of minimal contribution, with major deliveries to Mozambique and Bangladesh starting in FY 2026.

• Continued focus on consultancy and new business secured every quarter.

• The Board recommended a final dividend, reflecting confidence in ongoing cash generation and financial stability.