Revenue and Profit Growth
Over the seven-year period ending March 2025, 360 ONE’s net sales have shown a consistent upward trend, rising from ₹1,551.14 crores in 2019 to ₹3,295.09 crores in 2025. This represents a more than doubling of sales, reflecting strong market demand and effective business expansion. The total operating income mirrors this growth, with no other operating income reported, indicating that core business activities have driven revenue increases.
Operating profit before depreciation, interest, and tax (PBDIT) excluding other income also improved markedly, reaching ₹2,002.70 crores in 2025 from ₹962.25 crores in 2019. Including other income, operating profit rose to ₹2,392.00 crores in 2025, up from ₹990.51 crores six years earlier. This growth underscores enhanced operational efficiency and profitability.
Profit before tax surged from ₹537.93 crores in 2019 to ₹1,346.82 crores in 2025, while profit after tax (PAT) climbed from ₹374.55 crores to ₹1,015.30 crores over the same period. The PAT margin has remained healthy, fluctuating between 24.15% in 2019 and 30.81% in 2025, indicating sustained profitability despite varying market conditions.
Perfect timing to enter! This Small Cap from IT - Software just turned profitable with growth momentum clearly building up. Get in before the broader market notices!
- - New profitability achieved
- - Growth momentum building
- - Under-the-radar entry
Cost Structure and Margins
Examining the cost components, employee costs have risen steadily from ₹331.17 crores in 2019 to ₹884.44 crores in 2025, reflecting workforce expansion and wage inflation. Manufacturing expenses and other expenses have also increased, though at a more moderate pace. Notably, purchase of finished goods was recorded only in some years, with ₹150.04 crores in 2024 but zero in 2025, suggesting a shift in procurement strategy or production focus.
The operating profit margin excluding other income has generally hovered around 50-60%, peaking at 62.04% in 2019 and standing at 60.78% in 2025. Gross profit margin improved significantly from 21.79% in 2020 to 43.01% in 2025, indicating better cost control and pricing power.
Balance Sheet and Financial Position
360 ONE’s balance sheet reveals a substantial increase in total assets from ₹8,738.84 crores in 2021 to ₹19,768.23 crores in 2025. Shareholders’ funds have more than doubled from ₹2,827.77 crores in 2021 to ₹7,065.12 crores in 2025, supported by rising reserves and equity capital. The book value per share has seen a remarkable rise, reaching ₹179.73 in 2025 from ₹40.22 in 2021, reflecting enhanced net asset value per share.
However, the company’s total debt has also increased, with short-term borrowings rising from ₹5,076.69 crores in 2021 to ₹11,094.74 crores in 2025. Non-current liabilities have fluctuated but remain significant. This leverage indicates a reliance on debt financing to support growth, which investors should monitor carefully.
Cash Flow Trends
Cash flow from operating activities has been volatile, with a negative outflow of ₹2,410 crores in 2025 contrasting with positive inflows in earlier years such as ₹1,628 crores in 2020. Investing activities have mostly involved cash outflows, reflecting ongoing capital expenditure and investments. Financing activities have provided substantial inflows, notably ₹3,773 crores in 2025, indicating active capital raising or debt financing.
Despite fluctuations, the company ended fiscal 2025 with a closing cash and cash equivalent balance of ₹740 crores, up from ₹442 crores the previous year, suggesting improved liquidity management.
360 ONE caught your attention? Explore our comprehensive research report with in-depth analysis of this Midcap Capital Markets stock – fundamentals, valuations, financials, and technical outlook!
- - Comprehensive research report
- - In-depth Midcap analysis
- - Valuation assessment included
Summary and Investor Considerations
In summary, 360 ONE has exhibited strong historical performance characterised by robust revenue growth, expanding profitability, and increasing shareholder equity. The company’s operating margins have remained healthy, and earnings per share have grown substantially, signalling effective business execution and value creation.
Nevertheless, the rising debt levels and volatile cash flows warrant cautious analysis. Investors should weigh the company’s growth prospects against its leverage and liquidity dynamics. The consistent increase in book value per share and reserves provides a positive backdrop, but monitoring debt servicing and operational cash generation will be crucial going forward.
Overall, 360 ONE’s historical financials reflect a company on a growth trajectory with improving profitability, making it a noteworthy candidate for investors seeking exposure to a midcap with demonstrated performance momentum.
Limited Time Only! Subscribe for Rs. 12,999 and get 1 Year of MojoOne + an Additional Year Completely FREE. Don't miss out on this exclusive offer. Claim Your Free Year →
