#EBITDA #GROWTH
In FY24, the EBITDA grew by 7% YoY to โน256 cr because of decline in power & fuel cost and other expenses. The power & fuel cost declined by 9% YoY to โน229 cr (v/s โน252 cr in FY23) led by reduced coal prices. Segment wise, the specialties segment contributed 67% (FY23: 69%) to the EBITDA and essentials segment contributes about 33% (FY23: 31%) to the EBITDA. The companyโs loss of profit insurance claim for FY22 was settled in Q4 FY24 which added โน10 cr to the EBITDA. During the year, the company witnessed supply chain challenges due to the ongoing Red Sea crisis. The companyโs key raw material are acetic acid and ethyl alcohol. The price of acetic acid is linked to crude oil prices. Similarly, the price of local ethyl alcohol, derived from sugarcane molasses, is cyclical. In 9M FY25, the EBITDA grew by 31% YoY to โน221 cr led by strong growth in both the essentials and specialties segment.
In FY24, the EBITDA grew by 7% YoY to โน256 cr because of decline in power & fuel cost and other expenses. The power & fuel cost declined by 9% YoY to โน229 cr (v/s โน252 cr in FY23) led by reduced coal prices. Segment wise, the specialties segment contributed 67% (FY23: 69%) to the EBITDA and essentials segment contributes about 33% (FY23: 31%) to the EBITDA. The companyโs loss of profit insurance claim for FY22 was settled in Q4 FY24 which added โน10 cr to the EBITDA. During the year, the company witnessed supply chain challenges due to the ongoing Red Sea crisis. The companyโs key raw material are acetic acid and ethyl alcohol. The price of acetic acid is linked to crude oil prices. Similarly, the price of local ethyl alcohol, derived from sugarcane molasses, is cyclical. In 9M FY25, the EBITDA grew by 31% YoY to โน221 cr led by strong growth in both the essentials and specialties segment.
โก1๐1
#PAT #GROWTH
In FY24, the PAT declined by 3.3% YoY to โน121 cr. The decline in profit was on account of increase in depreciation cost and higher effective tax rate. The depreciation cost increased by 47% YoY to โน107 cr from โน72 cr in FY23 mainly due to capitalization of two projects in subsidiary at site-2 in Mahad that came on stream in Q3 FY24 and Q4 FY24. The effective tax rate in FY24 stood at 29.4% in FY24 (v/s 27.9% in FY23). In 9M FY25, the PAT increased by 20% YoY to โน92 cr. The depreciation cost increased by 11% YoY to โน85 cr in 9M FY25 due to capitalization of assets in Lote.
In FY24, the PAT declined by 3.3% YoY to โน121 cr. The decline in profit was on account of increase in depreciation cost and higher effective tax rate. The depreciation cost increased by 47% YoY to โน107 cr from โน72 cr in FY23 mainly due to capitalization of two projects in subsidiary at site-2 in Mahad that came on stream in Q3 FY24 and Q4 FY24. The effective tax rate in FY24 stood at 29.4% in FY24 (v/s 27.9% in FY23). In 9M FY25, the PAT increased by 20% YoY to โน92 cr. The depreciation cost increased by 11% YoY to โน85 cr in 9M FY25 due to capitalization of assets in Lote.
โก1๐ฅ1๐1
#EBITDA #MARGIN
In FY24, the EBITDA margin expanded by 36 bps YoY to 8.9% because of decline in power & fuel cost and other expenses. During the year, the gross margin of the company contracted by 71 bps YoY to 32.8% because of increase in raw material cost. The companyโs product ethyl acetate is a commodity product, and thus, vulnerable to volatility in raw material prices, which are governed by global supplydemand dynamics. The companyโs focus on high margin specialties products in the di-ketene derivatives and fluorochemicals segment will provide a stability to its earnings and improves its margins. In 9M FY25, the EBITDA margin expanded by 158 bps YoY to 9.7% mainly led by improvement in gross margin on account of operational efficiency. Segment wise, the essentials segment margin expanded by 88 bps YoY to 4.6% and specialties segment margin expanded by 169 bps YoY to 20.8%.
In FY24, the EBITDA margin expanded by 36 bps YoY to 8.9% because of decline in power & fuel cost and other expenses. During the year, the gross margin of the company contracted by 71 bps YoY to 32.8% because of increase in raw material cost. The companyโs product ethyl acetate is a commodity product, and thus, vulnerable to volatility in raw material prices, which are governed by global supplydemand dynamics. The companyโs focus on high margin specialties products in the di-ketene derivatives and fluorochemicals segment will provide a stability to its earnings and improves its margins. In 9M FY25, the EBITDA margin expanded by 158 bps YoY to 9.7% mainly led by improvement in gross margin on account of operational efficiency. Segment wise, the essentials segment margin expanded by 88 bps YoY to 4.6% and specialties segment margin expanded by 169 bps YoY to 20.8%.
โก1๐1๐1๐ฆ1
#ROCE
In FY24, the return on capital employed stood at 9.6%. The company has entered into fluorochemical specialty products which finds application in the pharmaceutical and agrochemical sectors. The company intend to leverage its existing relationships with customers by offering a diverse set of products while strengthening its position in the specialty chemicals segment simultaneously, it plans to reduce its dependence on commodities such as ethyl acetate.
In FY24, the return on capital employed stood at 9.6%. The company has entered into fluorochemical specialty products which finds application in the pharmaceutical and agrochemical sectors. The company intend to leverage its existing relationships with customers by offering a diverse set of products while strengthening its position in the specialty chemicals segment simultaneously, it plans to reduce its dependence on commodities such as ethyl acetate.
โก1๐1๐ฅ1๐1๐ซก1
#CASH #FLOWS
In FY24, the cash from operations increased to โน562 cr due to improved working capital days and efficient use of current assets. Purchase of property plant and equipment of โน247.6 cr and movement in other bank balances of โน156 cr led to cash outflow from investing activities of โน490 cr. The company reported cash outflow from financing activities of โน42 cr. This was on account of net proceeds from short term borrowings, interest, lease and dividend payment partly offset by proceeds from issue of share capital.
In FY24, the cash from operations increased to โน562 cr due to improved working capital days and efficient use of current assets. Purchase of property plant and equipment of โน247.6 cr and movement in other bank balances of โน156 cr led to cash outflow from investing activities of โน490 cr. The company reported cash outflow from financing activities of โน42 cr. This was on account of net proceeds from short term borrowings, interest, lease and dividend payment partly offset by proceeds from issue of share capital.
๐ซก2๐ฅ1๐1
#SECTOR #POTENTIAL
โข The essentials solvents business under the Acetyl Intermediates (AI) category are slated to grow at ~5-6% CAGR from 2022-2028. โข Global market for Diketene derivatives segment is around $1.7 billion and is expected to grow at ~5-6% CAGR in the next 5 years. There are multiple tailwinds driving demand for Diketene derivatives with consumer segments showing strong growth globally. Global crop protection chemicals market clocked ~$79 billion in 2022 having grown at a 9.9% over 2021. The market is expected to witness a similar growth in the next 5 years. Whereas the other important Diketene derivatives application in the pharma sector is also expected to witness a high growth of ~ 9% CAGR from $1.5 trillion in 2021 on a year-on-year basis. โข Global fluorochemicals market is growing at an attractive CAGR of 5-6% and is expected to touch $30 billion by 2025. Indian market itself for fluorochemicals is growing at a strong pace of 12% CAGR and given the increasing demand from pharmaceuticals, agrochemicals, EV and renewables applications, this growth rate could accelerate to higher levels of 12-14% over next few years. โข Indian market size is currently around $450 million and expected to reach $1 billion by FY26. There has been a tremendous surge in demand for fluorine based chemical products in the field of agrochemicals in tandem with the rise of use in pharmaceuticals. Fluorine has a special place in the toolkit of the agrochemical and pharmaceutical chemist. It has a significant impact on the biological activity of agrochemicals like fungicides, insecticides, herbicides, acaricides, and nematicides. Fluorine containing pesticides account for ~67% of the overall pesticides and over 53% of the pesticides introduced in the previous 2 decades. On the other hand, fluorine containing drugs account for ~2% of the drugs approved by FDA in the last 5 years.
โข The essentials solvents business under the Acetyl Intermediates (AI) category are slated to grow at ~5-6% CAGR from 2022-2028. โข Global market for Diketene derivatives segment is around $1.7 billion and is expected to grow at ~5-6% CAGR in the next 5 years. There are multiple tailwinds driving demand for Diketene derivatives with consumer segments showing strong growth globally. Global crop protection chemicals market clocked ~$79 billion in 2022 having grown at a 9.9% over 2021. The market is expected to witness a similar growth in the next 5 years. Whereas the other important Diketene derivatives application in the pharma sector is also expected to witness a high growth of ~ 9% CAGR from $1.5 trillion in 2021 on a year-on-year basis. โข Global fluorochemicals market is growing at an attractive CAGR of 5-6% and is expected to touch $30 billion by 2025. Indian market itself for fluorochemicals is growing at a strong pace of 12% CAGR and given the increasing demand from pharmaceuticals, agrochemicals, EV and renewables applications, this growth rate could accelerate to higher levels of 12-14% over next few years. โข Indian market size is currently around $450 million and expected to reach $1 billion by FY26. There has been a tremendous surge in demand for fluorine based chemical products in the field of agrochemicals in tandem with the rise of use in pharmaceuticals. Fluorine has a special place in the toolkit of the agrochemical and pharmaceutical chemist. It has a significant impact on the biological activity of agrochemicals like fungicides, insecticides, herbicides, acaricides, and nematicides. Fluorine containing pesticides account for ~67% of the overall pesticides and over 53% of the pesticides introduced in the previous 2 decades. On the other hand, fluorine containing drugs account for ~2% of the drugs approved by FDA in the last 5 years.
๐2๐2โก1๐ฅ1
#FUTURE #OUTLOOK
โข The company maintained its capital expenditure guidance of ~โน1,100 cr during FY24-FY28, both in the essentials and specialties segment. It includes โน800 cr at Dahej site & n-Butyl Acetate plant, โน50 cr in fluoro intermediates business, โน90 cr in Ethyl Acetate capacity addition at Lote and the rest capital expenditure at existing sites. With this capital expenditure plan, it expects to double its revenue and triple its EBITDA by FY28. โข In the essentials segments, the company would incur capital expenditure of ~โน550 cr at Dahej. It received relevant approvals for the same and construction has started. It expects revenue from Dahej to start flowing from FY26 and the peak revenue is expected by FY28. The company expects the asset turnover of ~3x-5x and EBITDA margins of ~8%-12%. โข In the specialties segment, it expects to incur a capital expenditure of ~โน550 cr. The asset turnover would be ~1x-2x and EBITDA margin of ~20%-25%. โข In the essentials segment, the company would increase its capacity by 1.75x from the current capacity of 240 KT (kilo tonne). In the specialty intermediates segment, the company is doubling the capacity of ketene & diketene derivatives. โข In n-Butyl Acetate plant at Dehej, Gujarat, the company propose capacity of 70 KTA (kilo tonnes per annum). The project will entail an investment of โน91.4 cr. It will be funded through a mix of internal accruals and debt. It is expected to be completed by Q4 FY26. โข In Ethyl Acetate at Lote, Maharashtra, the company propose capacity addition of 70 KTA. The project will entail an investment of โน90.5 cr. It will be funded through a mix of internal accruals and debt. Currently, the company has existing capacity of 200 KTA with capacity utilization of more than 90%. It is expected to be completed by Q4 FY26.
โข The company maintained its capital expenditure guidance of ~โน1,100 cr during FY24-FY28, both in the essentials and specialties segment. It includes โน800 cr at Dahej site & n-Butyl Acetate plant, โน50 cr in fluoro intermediates business, โน90 cr in Ethyl Acetate capacity addition at Lote and the rest capital expenditure at existing sites. With this capital expenditure plan, it expects to double its revenue and triple its EBITDA by FY28. โข In the essentials segments, the company would incur capital expenditure of ~โน550 cr at Dahej. It received relevant approvals for the same and construction has started. It expects revenue from Dahej to start flowing from FY26 and the peak revenue is expected by FY28. The company expects the asset turnover of ~3x-5x and EBITDA margins of ~8%-12%. โข In the specialties segment, it expects to incur a capital expenditure of ~โน550 cr. The asset turnover would be ~1x-2x and EBITDA margin of ~20%-25%. โข In the essentials segment, the company would increase its capacity by 1.75x from the current capacity of 240 KT (kilo tonne). In the specialty intermediates segment, the company is doubling the capacity of ketene & diketene derivatives. โข In n-Butyl Acetate plant at Dehej, Gujarat, the company propose capacity of 70 KTA (kilo tonnes per annum). The project will entail an investment of โน91.4 cr. It will be funded through a mix of internal accruals and debt. It is expected to be completed by Q4 FY26. โข In Ethyl Acetate at Lote, Maharashtra, the company propose capacity addition of 70 KTA. The project will entail an investment of โน90.5 cr. It will be funded through a mix of internal accruals and debt. Currently, the company has existing capacity of 200 KTA with capacity utilization of more than 90%. It is expected to be completed by Q4 FY26.
๐5โก3๐ฅ1
Laxmi Organic Industries 120-170
Expected level 230
Support 100
Expected level 230
Support 100
๐ฅ8๐3โค1๐1
๐๐ผ๐ป๐ด ๐ง๐ฒ๐ฟ๐บ ยฎโข
CEAT Limited 2590-2890 Expected level 3600 Support 2250
3358๐ฅ๐ฅ๐ฅ๐ฅ
๐4๐ฏ3โค1๐1
Hereโs a breakdown of common red flags that were visible before these companies collapsed:
---
### 1. Kingfisher Airlines
- Red Flags:
- High debt-to-equity ratio
- Continuous losses
- Promoter pledged shares
- Lavish branding and PR vs. weak financials
- Failed business model in a low-margin industry (aviation)
---
### 2. Sintex Industries
- Red Flags:
- Aggressive expansion with too much debt
- Poor corporate governance
- Delays in results and poor disclosures
- Financials deteriorating long before NCLT admission
---
### 3. Suzlon Energy
- Red Flags:
- Debt pile-up due to global acquisitions (like REpower)
- Inconsistent profitability
- Management overpromised, underdelivered
- Repeated dilution of equity
---
### 4. PC Jeweller
- Red Flags:
- Related-party transactions (with Vakrangee, another suspicious stock)
- Promoter selling shares
- Accounting quality issues
- Weak internal controls
---
### 5. Yes Bank
- Red Flags:
- Aggressive lending, especially to risky borrowers
- Evergreening of loans
- RBI red-flagged practices, removed CEO
- High gross NPA in disguise
---
### 6. Manpasand Beverages
- Red Flags:
- Auditor resignations
- Lack of big distributors despite strong "sales" figures
- Dubious capex, questionable numbers
- Sudden stock crashes with no clear news (classic operator sign)
---
### 7. DHFL (Dewan Housing Finance Ltd)
- Red Flags:
- Promoter funding through shell companies (Cobrapost expose)
- Credit rating agencies slow to react
- High share of promoter-pledged shares
- Delays in repayments and poor liquidity management
---
### 8. Gensol Engineering
- Red Flags:
- Low float, highly operator-driven
- Skyrocketing prices without matching fundamentals
- Sudden inclusion in retail momentum portfolios
- No long-term earnings visibility or scalability
---
### Common Red Flags Across All:
1. High Debt
2. Corporate Governance Issues
3. Auditor Resignation / Reshuffling
4. Promoter Share Pledging / Selling
5. Inconsistent Cash Flows vs. PAT
6. Overambitious Announcements Without Execution
7. Unnatural Stock Price Movements
8. **Unclear Business Models or Dubious Subsidiaries
---
### 1. Kingfisher Airlines
- Red Flags:
- High debt-to-equity ratio
- Continuous losses
- Promoter pledged shares
- Lavish branding and PR vs. weak financials
- Failed business model in a low-margin industry (aviation)
---
### 2. Sintex Industries
- Red Flags:
- Aggressive expansion with too much debt
- Poor corporate governance
- Delays in results and poor disclosures
- Financials deteriorating long before NCLT admission
---
### 3. Suzlon Energy
- Red Flags:
- Debt pile-up due to global acquisitions (like REpower)
- Inconsistent profitability
- Management overpromised, underdelivered
- Repeated dilution of equity
---
### 4. PC Jeweller
- Red Flags:
- Related-party transactions (with Vakrangee, another suspicious stock)
- Promoter selling shares
- Accounting quality issues
- Weak internal controls
---
### 5. Yes Bank
- Red Flags:
- Aggressive lending, especially to risky borrowers
- Evergreening of loans
- RBI red-flagged practices, removed CEO
- High gross NPA in disguise
---
### 6. Manpasand Beverages
- Red Flags:
- Auditor resignations
- Lack of big distributors despite strong "sales" figures
- Dubious capex, questionable numbers
- Sudden stock crashes with no clear news (classic operator sign)
---
### 7. DHFL (Dewan Housing Finance Ltd)
- Red Flags:
- Promoter funding through shell companies (Cobrapost expose)
- Credit rating agencies slow to react
- High share of promoter-pledged shares
- Delays in repayments and poor liquidity management
---
### 8. Gensol Engineering
- Red Flags:
- Low float, highly operator-driven
- Skyrocketing prices without matching fundamentals
- Sudden inclusion in retail momentum portfolios
- No long-term earnings visibility or scalability
---
### Common Red Flags Across All:
1. High Debt
2. Corporate Governance Issues
3. Auditor Resignation / Reshuffling
4. Promoter Share Pledging / Selling
5. Inconsistent Cash Flows vs. PAT
6. Overambitious Announcements Without Execution
7. Unnatural Stock Price Movements
8. **Unclear Business Models or Dubious Subsidiaries
๐17โค3๐ฅ2๐ซก2โก1
Info Edge (India) company details report
Info Edge (India) incorporated in 1995, has two specific arms โ an operational business and an investment business. The core business verticals includes recruitment solutions, real estate services, matrimonial services and an education services through its various web portals and mobile applications. The core activities are supported by a series of strategic investments in the operating business. These investments are primarily made into services & products, that complement and form an integral part of the developmental roadmap of the four core business platforms. The investment business also includes a series of fund infusions into diversified entities, that have significant value creation potential over a period. Business portfolio: โข Recruitment: Online recruitment classifieds, www .naukri.com, a clear market leader in the Indian e-recruitment space, www .naukrigulf.com, a job site focused in the Middle East market, offline executive search (www .quadranglesearch.com) and a fresher hiring site (www .firstnaukri.com). Additionally, Info Edge provides jobseekers value added services (Naukri Fast Forward) such as resume writing. โข Matrimony: Online matrimony classifieds (www .jeevansathi.com) is in the top three of Indiaโs online matrimonial space and has offline Jeevansathi Match Points and franchisees. โข Real Estate: Online real estate classifieds (www .99acres.com) is Indiaโs largest property marketplace covering almost all the major cities and many agents and developers. โข Education: Online education classifieds (www.shiksha.com) is the smartest gateway for students to achieve their higher education goals.
Info Edge (India) incorporated in 1995, has two specific arms โ an operational business and an investment business. The core business verticals includes recruitment solutions, real estate services, matrimonial services and an education services through its various web portals and mobile applications. The core activities are supported by a series of strategic investments in the operating business. These investments are primarily made into services & products, that complement and form an integral part of the developmental roadmap of the four core business platforms. The investment business also includes a series of fund infusions into diversified entities, that have significant value creation potential over a period. Business portfolio: โข Recruitment: Online recruitment classifieds, www .naukri.com, a clear market leader in the Indian e-recruitment space, www .naukrigulf.com, a job site focused in the Middle East market, offline executive search (www .quadranglesearch.com) and a fresher hiring site (www .firstnaukri.com). Additionally, Info Edge provides jobseekers value added services (Naukri Fast Forward) such as resume writing. โข Matrimony: Online matrimony classifieds (www .jeevansathi.com) is in the top three of Indiaโs online matrimonial space and has offline Jeevansathi Match Points and franchisees. โข Real Estate: Online real estate classifieds (www .99acres.com) is Indiaโs largest property marketplace covering almost all the major cities and many agents and developers. โข Education: Online education classifieds (www.shiksha.com) is the smartest gateway for students to achieve their higher education goals.
๐2๐ฅ2โค1๐1๐ซก1
Investment Vertical: Info Edge started investing in year 2007 when the Indian start-up ecosystem was at a nascent stage and there were a handful of earlystage institutional investors active in the country. So far, Info Edge has an investment of ~โน555 cr in 21 companies in the unlisted space and โน514 cr as a strategic investment in 8 companies as on 31st March 2024. Owing to the strong cash generation in the core business along with prudent cash reserves, Info Edge has invested into businesses in the online space with the objective of getting returns from long-term value creation. The company has a direct investments in two public companies โ Zomato and Policybazaarโevolved as strong growth-oriented entities. There is another group of companies in the direct investment portfolio where Info Edge has done early-stage investments, and they are being developed for future value creation. To further streamline this high value creating business investment portfolio, the company in the last couple of years has worked on creating a structured investments vehicle through specific investment funds. In FY20, Info Edge had set up an โAlternative Investment Fund (AIF)โ named Info Edge Venture Fund (IEVF) to invest in technology and technology-enabled entities. They have launched three such funds, with a total commitment of approximately $450 mn.
๐2๐ซก2๐ฅ1
#SALES #GROWTH
In FY24, the revenue stood at โน2,536 cr, a growth of 8% YoY and overall billings stood at โน2,496 cr. The revenue growth was on led by 7% YoY growth in recruitment business and 23% YoY growth in the real estate segment. In 9M FY25, revenue increased by 12% YoY and stood at โน2,100 cr. The recruitment segment reported a revenue growth of ~9% YoY, 99acres segment reported a growth of ~18%, Shiksha segment reported a growth of ~11% YoY and Jeevansathi segment, revenue increased by ~34% YoY. Strong momentum in the recruitment vertical, vibrant real estate market, increase in the number of private universities in India & monetization of matrimony segment indicate an increase in top line growth, going forward.
In FY24, the revenue stood at โน2,536 cr, a growth of 8% YoY and overall billings stood at โน2,496 cr. The revenue growth was on led by 7% YoY growth in recruitment business and 23% YoY growth in the real estate segment. In 9M FY25, revenue increased by 12% YoY and stood at โน2,100 cr. The recruitment segment reported a revenue growth of ~9% YoY, 99acres segment reported a growth of ~18%, Shiksha segment reported a growth of ~11% YoY and Jeevansathi segment, revenue increased by ~34% YoY. Strong momentum in the recruitment vertical, vibrant real estate market, increase in the number of private universities in India & monetization of matrimony segment indicate an increase in top line growth, going forward.
๐ฅ1๐ซก1
#SALES #GROWTH
In FY24, the revenue stood at โน2,536 cr, a growth of 8% YoY and overall billings stood at โน2,496 cr. The revenue growth was on led by 7% YoY growth in recruitment business and 23% YoY growth in the real estate segment. In 9M FY25, revenue increased by 12% YoY and stood at โน2,100 cr. The recruitment segment reported a revenue growth of ~9% YoY, 99acres segment reported a growth of ~18%, Shiksha segment reported a growth of ~11% YoY and Jeevansathi segment, revenue increased by ~34% YoY. Strong momentum in the recruitment vertical, vibrant real estate market, increase in the number of private universities in India & monetization of matrimony segment indicate an increase in top line growth, going forward.
In FY24, the revenue stood at โน2,536 cr, a growth of 8% YoY and overall billings stood at โน2,496 cr. The revenue growth was on led by 7% YoY growth in recruitment business and 23% YoY growth in the real estate segment. In 9M FY25, revenue increased by 12% YoY and stood at โน2,100 cr. The recruitment segment reported a revenue growth of ~9% YoY, 99acres segment reported a growth of ~18%, Shiksha segment reported a growth of ~11% YoY and Jeevansathi segment, revenue increased by ~34% YoY. Strong momentum in the recruitment vertical, vibrant real estate market, increase in the number of private universities in India & monetization of matrimony segment indicate an increase in top line growth, going forward.
๐1๐ฅ1๐ซก1
#EBITDA #GROWTH
In FY24, the EBITDA stood at โน829 cr, an increase of ~18.3% YoY. This was a combination of increase in revenue and decrease in A&P expenses specifically in the Jeevansathi business. In 9M FY25, EBITDA stood at โน737 cr, an increase of ~21% YoY. The growth was subdued on account of increased spending towards advertising and promotion (A&P) towards the growth of the recruitment business. However, they have reduced the spending towards other business vertical. Going forward, the company expects to continue spending on A&P costs, and subsequently expects an increase in revenue. They are further going to expand their branches in small towns.
In FY24, the EBITDA stood at โน829 cr, an increase of ~18.3% YoY. This was a combination of increase in revenue and decrease in A&P expenses specifically in the Jeevansathi business. In 9M FY25, EBITDA stood at โน737 cr, an increase of ~21% YoY. The growth was subdued on account of increased spending towards advertising and promotion (A&P) towards the growth of the recruitment business. However, they have reduced the spending towards other business vertical. Going forward, the company expects to continue spending on A&P costs, and subsequently expects an increase in revenue. They are further going to expand their branches in small towns.
โก1๐1๐ฅ1
#PAT #GROWTH
In FY24, PAT stood at ~โน726 cr. It was impacted by an impairment expense of โน111 cr. Adjusting for the share of profit from JV and associates consolidated PAT stood at โน595 cr. For 9M FY25, PAT grew by 19% to ~โน739 cr, on account of increase in other income. Adjusting for the share of profit from JV and associates consolidated PAT stood at โน632 cr.
In FY24, PAT stood at ~โน726 cr. It was impacted by an impairment expense of โน111 cr. Adjusting for the share of profit from JV and associates consolidated PAT stood at โน595 cr. For 9M FY25, PAT grew by 19% to ~โน739 cr, on account of increase in other income. Adjusting for the share of profit from JV and associates consolidated PAT stood at โน632 cr.
โก1๐1๐ฅ1