Asahi Songwon Colors Limited — Investor Meet, 15-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Asahi Songwon Colors reported FY25 revenues up 32% YoY to ₹566 Cr, with EBITDA soaring 185% to ₹60 Cr and margins doubling to 10%. PAT turned positive at ₹17 Cr. Debt fell from ₹200 Cr to ₹160 Cr, while operating cash flow rose to ₹57 Cr. The company is exiting CapEx, focusing on better utilization in AZO pigments and APIs, targeting strong sales and profit growth in FY26. AZO pigment capacity expands by 40 tons (~₹5 Cr capex), with exports expected to double to 20-25% of pigment sales. API volumes grew 25%, though prices remain pressured; backward integration helps margins. Blue pigment utilization is near 85-87%, supporting stable margins. Sustainable EBITDA margins near 12% and ₹750 Cr revenue are expected with full capacity use. Deleveraging and cash flow improvement remain priorities amid global uncertainties, with focus on market share, operational efficiency, and product diversification.