EID Parry India Limited — Important, 11-02-2025: Financial Result Updates

E.I.D.-Parry (India) Limited has reported unaudited consolidated financial results for the quarter and nine months ending December 31, 2024. For the quarter, the consolidated revenue from operations increased by 12% to ₹8,720 crore compared to ₹7,770 crore in the prior year. The EBITDA for this period rose significantly by 79% to ₹811 crore versus ₹453 crore year-over-year. However, there was a notable net profit after tax of ₹195 crore, compared to ₹118 crore from last year, highlighting a positive trend, despite some underlying challenges.

For the nine-month period, consolidated revenue from operations stood at ₹24,797 crore, slightly up from ₹23,856 crore the previous year. EBITDA for the first nine months decreased marginally to ₹2,367 crore from ₹2,309 crore. Notably, the profit after tax was reported at ₹592 crore, down from ₹679 crore in the prior year, reflecting pressures in certain segments.

On a standalone basis, revenue saw improvement, with an increase to ₹848 crore from ₹668 crore in the same quarter last year, though it recorded a loss after tax of ₹146 crore, which included a significant provision for impairment in a subsidiary investment amounting to ₹77 crore.

Operationally, the sugar division faced headwinds with reduced revenues at ₹391 crore due to lower quotas and cane volumes. Conversely, the consumer products group showed strong performance, with revenue rising 72% year-over-year, aided by an expanded product portfolio. The distillery segment also registered robust revenue growth of 64%, although profitability remains challenged by rising input costs.

From an investor perspective, while there are areas of concern, particularly in the sugar and nutraceuticals divisions, the growth in consumer products, along with overall revenue increase, presents a mixed outlook. Consider holding given the current dynamics and potential for recovery as the company continues to adapt and expand its product offerings.