Revenue and Profitability Growth
In the fiscal year ending March 2025, Indus Inf. Trust reported a significant surge in net sales, reaching ₹744.60 crores compared to ₹120.69 crores in the previous year. This more than sixfold increase underscores a robust expansion in the company’s core operations. The total operating income mirrored this growth, with no other operating income recorded in either year.
Operating expenses rose in absolute terms, with manufacturing expenses increasing to ₹156.65 crores from ₹76.01 crores, and other expenses climbing to ₹39.58 crores from ₹7.86 crores. Employee costs, while still modest, increased marginally to ₹0.44 crores. Despite these higher costs, the company achieved a dramatic improvement in operating profit before depreciation, interest, and tax (PBDIT), which soared to ₹631.96 crores from ₹44.70 crores.
The operating profit margin excluding other income expanded impressively to 69.97% from 30.47%, reflecting enhanced operational leverage and cost management. Gross profit margin also improved substantially to 67.53% from 16.33%, signalling a healthier bottom line.
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Profitability and Earnings Per Share
Interest expenses increased to ₹129.10 crores from ₹24.99 crores, reflecting higher borrowings, yet the company maintained a strong profit before tax of ₹502.86 crores, a substantial rise from ₹19.72 crores the previous year. After accounting for tax expenses of ₹21.19 crores, the profit after tax stood at ₹481.67 crores, compared to ₹14.81 crores in the prior year.
This translated into a remarkable jump in earnings per share (EPS) to ₹11.03 from ₹0.34, highlighting the company’s enhanced profitability on a per-share basis. The profit after tax margin expanded to 64.69% from 12.27%, indicating a significant improvement in net profitability.
Balance Sheet and Financial Position
On the balance sheet front, shareholder’s funds remained relatively stable at ₹4,908.94 crores compared to ₹4,956.59 crores a year earlier. However, long-term borrowings nearly doubled to ₹1,964.01 crores from ₹973.05 crores, reflecting increased leverage to support growth initiatives. Total liabilities rose to ₹7,112.02 crores from ₹6,259.41 crores.
Non-current assets increased to ₹5,707.86 crores from ₹4,863.58 crores, supported by higher long-term loans and advances and other non-current assets. Current assets remained steady at around ₹1,404 crores, with a notable increase in current investments to ₹457.23 crores from ₹67.35 crores. Cash and bank balances, however, declined to ₹195.22 crores from ₹512.25 crores.
The book value per share remained stable at ₹112.39 compared to ₹113.26, reflecting consistent net asset value despite the company’s expansion and increased borrowings.
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Cash Flow and Liquidity
Cash flow from operating activities improved markedly to ₹438 crores from ₹128 crores, supported by a strong cash flow after changes in working capital of ₹466 crores compared to ₹85 crores previously. Investing activities saw a positive cash inflow of ₹367 crores, a significant change from nil in the prior year, indicating active asset investments or disposals.
Conversely, cash flow from financing activities was negative at ₹829 crores, reflecting repayments or other financing outflows, compared to a positive inflow of ₹62 crores the year before. The net cash outflow for the year was ₹22 crores, a reversal from a net inflow of ₹191 crores in the previous period.
Closing cash and cash equivalents stood at ₹168 crores, down from ₹191 crores, signalling a slight tightening in liquidity but still maintaining a comfortable cash position.
Summary
Overall, Indus Inf. Trust has exhibited a strong financial turnaround with substantial revenue growth, improved margins, and enhanced profitability. The company’s increased leverage has supported asset growth and operational expansion, while cash flow metrics indicate solid operational cash generation despite financing outflows. Investors may view this performance as a positive indicator of the company’s strategic execution and financial health.
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