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**Financial Highlights:**
In Q2 FY25, Macpower CNC Machines reported record performance with revenue reaching ₹711 million, a 13% increase year-over-year and a notable 42% rise from the previous quarter. EBITDA stood at ₹127 million, marking a 41% annual growth and a 94% quarterly surge, achieving a best-ever EBITDA margin of 17.9%, an improvement of 360 basis points YoY. Profit after tax (PAT) rose to ₹83 million, with a PAT margin of 11.6%, reflecting a 35% annual increase and 107% quarter-over-quarter growth.
**Strategic Initiatives and Growth Drivers:**
The company is focusing on enhancing its capacity from 2,000 to 2,500 machines annually by March 2025, aiming for a 20-25% CAGR. They are increasing their engagement in the defense sector, with significant orders and collaborations with DRDO and HAL, anticipating rapid growth in these segments.
**Business Developments:**
The unexecuted order book reached its highest ever at ₹3,065 million as of September 30, 2024, driven by a significant order influx for high-value machines, particularly in the NEXA vertical, which now constitutes 35.5% of the order book.
**Market Position and Competitive Advantage:**
Macpower is recognized as a low-cost producer with a strong EBITDA and PAT margin compared to competitors. The company's strategic focus on sustainable growth, backed by a debt-free status and positive cash flow, positions it favorably for future expansions.
**Investor Implications:**
Investors should view the company's robust performance, strategic advancements in high-margin sectors, and expanding order book as positive indicators for continued growth in the upcoming quarters.