Q1 FY25 earnings calls.

ABB India reported a modest Q1 CY2025 with orders up 4% YoY and revenue up 3% YoY, while PAT grew 3%. Base orders grew 10%, supported by a large order of INR 200 crore in motion. Electrification and motion segments maint

Adani Enterprises reported its highest-ever quarterly EBITDA of INR 4,300 crore, up 38% YoY, driven by a stellar performance from incubating businesses (62% of EBITDA vs 45% a year ago). The green hydrogen ecosystem saw

Adani Green reported a strong Q1 FY25 with revenue from power supply up 24% YoY to INR 2,528 crore and EBITDA margin of 92.6%, driven by tech-enabled O&M and capacity additions of 2.6 GW over the past year. Operational c

Adani Power delivered a strong Q1 FY25 with 29% revenue growth to INR 14,717 crore and 57% EBITDA growth to INR 6,290 crore, driven by higher PLF of 78% (vs 60% YoY) and lower imported coal costs. Merchant contribution i

Adani Total Gas reported a strong Q1 FY25 with revenue of ₹1,237 crore (+9% YoY) and EBITDA of ₹308 crore (+21% YoY), driven by 17% volume growth (CNG +20%, PNG +10%). EBITDA margin expanded ~250bps to ~24.9% due to effi

Adani Ports delivered a stellar Q1 FY25 with revenue of INR 7,560 crore (+21% YoY), EBITDA of INR 4,848 crore (+29% YoY), and PAT of INR 3,107 crore (+47% YoY), all record highs. Cargo volume reached 109 MMT (+8% YoY, +1

Aditya Birla Capital reported a strong Q1 FY25 with consolidated PAT up 15% YoY to INR 745 crore and revenue up 26% YoY to INR 10,258 crore. Growth was driven by NBFC portfolio expansion of 25% YoY, led by SME loans (up

ABFRL reported Q1 FY25 revenue of INR 3,428 crore (+7% YoY) and EBITDA of INR 406 crore (+15% YoY) with an 11.8% margin. PAT loss widened to INR -215 crore due to continued investments in TMRW and ethnic businesses. Grow

AIA Engineering reported Q1 FY25 revenue of INR 1,004 crore and EBITDA of INR 372 crore, with EBITDA margin of 37.1%. However, sales volumes dropped sharply to 60,592 tons from 74,000 tons YoY, driven by logistics disrup

Ajanta Pharma delivered a strong Q1 FY25 with revenue of INR 1,145 crore (+12% YoY) and EBITDA of INR 330 crore (+22% YoY), driven by branded generics growth of 17%. Africa branded business rebounded sharply (+45% YoY) a

Alkem Laboratories reported a strong Q1 FY25 with EBITDA margin expanding 700 bps YoY to 20.1%, driven by favorable API pricing, improved product mix, and cost controls. Net profit stood at INR 545 crore. Domestic busine

Apar Industries reported Q1 FY25 consolidated revenue of INR 4,011 crore (+6.5% YoY), EBITDA of INR 394 crore (+6.8% YoY) with a 9.8% margin, and PAT of INR 203 crore (+2.6% YoY). Domestic business grew 43.4% YoY, while

Apollo Hospitals delivered a strong Q1 FY25 with consolidated revenue of INR 5,086 crore (+15% YoY) and EBITDA of INR 675 crore (+33% YoY). PAT surged 83% YoY to INR 305 crore. The hospital business saw inpatient volumes

Ashok Leyland reported a strong Q1 FY25 with record total CV volumes of 42,893 units, up 6% YoY, and EBITDA of INR 901 crore, up 11% YoY. EBITDA margin expanded 60 bps to 10.6%, driven by better mix, cost savings, and hi

Asian Paints reported a challenging Q1 FY25 with standalone revenue declining -3% YoY and volume growth of 7% (vs 10% last year), missing the double-digit target. The weak performance was driven by heatwaves, general ele

Astral reported a 16% volume growth in Q1 FY25, in line with its 15% guidance, despite significant PVC price volatility. Revenue growth was muted at 8% due to a wide volume-value gap from lower polymer prices. Consolidat

AU Small Finance Bank reported a steady Q1 FY25, with the board approving a universal bank application. The bank maintained a cautious deposit strategy, keeping the book flat at INR 97,290 crore to optimize costs, result

Aurobindo Pharma reported a solid Q1 FY25 with revenue of INR 7,567 crore (+10% YoY) and PAT of INR 919 crore (+61% YoY), driven by strong performance in Europe (EUR 221 million, +8% YoY) and growth markets (+49% YoY). U

Axis Bank reported a mixed Q1 FY25. PAT grew 4% YoY to INR 6,035 crore, but net credit cost rose to 0.97% annualized, impacted by timing differences in recoveries. Core operating profit grew 16% YoY, with NIM stable at 4

Bajaj Auto delivered a strong Q1 FY25 with revenue of INR 11,928 crore (+16% YoY) and EBITDA margin of 20.2% (+130bps YoY), marking the third consecutive quarter above 20%. PAT reached INR 1,988 crore, near the INR 2,000

Bajaj Finance reported a mixed Q1 FY25. AUM grew 31% YoY to INR 23,600 crore, with 11 million loans booked and 4.47 million new customers added. However, credit costs rose sharply to 2.12% of average AUM (net 1.99%), dri

Bajaj Finserv reported a mixed Q1 FY25. Consolidated PAT grew 10% YoY to INR 2,138 crore, but excluding one-offs, growth was 8%. Revenue rose 35% to INR 31,480 crore. BAGIC posted strong GWP growth of 24% to INR 4,761 cr

Bandhan Bank reported a strong Q1 FY25 with PAT of INR 1,063 crore (+47% YoY) driven by robust advances growth of 22% YoY and stable NIM of 7.6%. Asset quality improved with gross slippages declining to INR 891 crore fro

Bank of Baroda reported a 9.5% YoY PAT growth to INR 4,450 crore for Q1 FY25, driven by stable margins and lower credit costs. However, loan growth was muted at 8.1% YoY due to a strategic reduction in bulk deposits (dow

Bata India reported a muted Q1 FY25 with revenue declining -1.4% YoY, impacted by heatwaves, elections, and a sluggish wedding season. Gross margins remained flat, while EBITDA was pressured by ~300 bps of one-time costs

Berger Paints reported a mixed Q1 FY25 with 11.8% volume growth but only 2.4% value growth, as price cuts and mix shift to lower-value products weighed. EBITDA margin contracted 160bps YoY to 17.2%, impacted by RM inflat

BEL reported a strong Q1 FY25 with revenue of INR 4,105 crore (+19.1% YoY) and PAT of INR 776 crore (+46.2% YoY), driven by robust execution across defense programs like LRSAM and CBIC. EBITDA margin expanded to 22.82% (

BPCL reported Q1 FY25 revenue of INR 128,103 crore and PAT of INR 3,015 crore, despite absorbing ~INR 2,300 crore in LPG under-recoveries. Normalized PAT (excluding LPG losses and inventory gains) was ~INR 4,600 crore. R

Bharti Airtel delivered a consistent quarter with consolidated revenues of just over INR 38,500 crore and India EBITDA margins of 53.7%. India mobile revenue grew 1.9% sequentially to INR 29,046 crore, driven by ARPU imp

Biocon's Q1 FY25 revenue from operations was flat YoY at INR 3,433 crore, with adjusted EBITDA of INR 698 crore (20% margin) and adjusted PAT of INR 19 crore. The biosimilars segment grew 11% like-for-like, offsetting de

Blue Dart Express reported Q1 FY25 revenue of ₹1,345.7 crore, up 6.74% YoY, and PAT of ₹51.5 crore. Volume growth was strong at 9.6% YoY in weight, but margins compressed due to product mix shift toward lower-yield surfa

Bosch Limited reported Q1 FY25 revenue of INR 4,317 crore, up 3.8% YoY, with EBITDA margin improving 70 bps YoY to 12%. Growth was driven by Mobility Aftermarket (+8.1%), two-wheeler business (+14.6%), and Building Techn

Britannia reported Q1 FY25 revenue of INR 4,130 crore, up 4% YoY, with operating profit of INR 680 crore (16.5% margin), up 10% YoY. Volume growth reached high single digits, driven by rural recovery and distribution exp

Canara Bank reported a steady Q1 FY25 with net profit of INR 3,905 crore (+10.47% YoY), driven by strong retail growth (23.54% YoY) and improved asset quality. Global business grew 11.07% YoY to INR 2,310,000 crore, with

CDSL reported a strong Q1 FY25 with consolidated total income up 65% YoY to INR 287 crore and net profit up 82% YoY to INR 134 crore, driven by robust market activity and retail participation. Demat accounts grew 42% YoY

Cipla delivered a strong Q1 FY25 with revenue of INR 6,694 crore (+7% YoY) and EBITDA margin of 25.6% (+154 bps YoY), driven by a favorable product mix and calibrated pricing. North America hit an all-time high of $250 m

Coforge delivered a solid Q1 FY25 with 3.7% sequential CC growth excluding India, driven by broad-based demand across verticals. EBITDA margin expanded 210 bps YoY to 17%, aided by wage hike deferral and operational effi

Coromandel's Q1 FY25 consolidated total income fell 16.6% YoY to INR 4,783 crore, primarily due to lower subsidy rates. EBITDA declined 28.6% to INR 506 crore, with margin contracting ~180bps to 10.6% as raw material pri

Cummins India reported Q1 FY25 revenue of INR 2,262 crore, up 4% YoY, driven by strong domestic demand (up 12% YoY) while exports declined 22% YoY. Domestic industrial segment surged 57% YoY, led by construction, rail, a

Dabur India reported a steady Q1 FY25 with consolidated revenue growing 7% YoY in INR terms, driven by 5.2% volume growth in the domestic business. International business surged 18.4% in constant currency, though currenc

Delhivery reported a steady Q1 FY25 with revenue of ₹2,170 crore, up 12.6% YoY, driven by strong growth in Part Truckload (PTL) and Supply Chain Services (SCS). EBITDA margin improved to 4.5%, while adjusted EBITDA turne

Divis Labs reported a steady Q1 FY25 with consolidated revenue of INR 2,197 crore, up 18% YoY, and PAT of INR 430 crore, up 21% YoY. Growth was driven by strong custom synthesis (49% of mix, up ~40% YoY) and stable gener

Dixon Technologies delivered a stellar Q1 FY25 with consolidated revenue surging 101% YoY to INR 6,588 crore, driven by a 189% jump in the mobile & EMS segment to INR 5,192 crore. EBITDA grew 90% YoY to INR 256 crore, wh

DLF reported a strong Q1 FY25 with pre-sales of INR 6,400 crore, driven by the successful Privana West launch. PAT came in at INR 646 crore, and combined free operating cash flow exceeded INR 2,500 crore, reflecting robu

Dr. Reddy's delivered a steady Q1 FY25 with consolidated revenues of INR 7,673 crore, up 14% YoY, driven by strong US generics (up 19% YoY to $463M) and the Sanofi vaccine portfolio in India. EBITDA margin contracted 357

Eicher Motors reported its highest-ever quarterly revenue of INR 4,393 crore (+10.2% YoY) and EBITDA of INR 1,165 crore (+14.1% YoY), with margins expanding 90bps to 26.5%. Royal Enfield volumes were flat at 227,736 unit

Escorts Kubota reported a mixed Q1 FY25 with standalone revenue declining 1.5% YoY to INR 2,292.5 crore, impacted by lower tractor and CE volumes. However, EBITDA margin expanded 22 bps to 14.3% aided by better product m

Fortis Healthcare delivered a strong Q1 FY25 with consolidated revenue of INR 1,859 crore (+12.2% YoY) and EBITDA of INR 343 crore (+25.5% YoY), driven by the hospital business which grew 14.4% and expanded margins by 33