Q4 FY25 earnings calls.

Dr. Reddy's delivered a strong Q4 FY25 with consolidated revenue of INR 8,506 crore (+20% YoY) and EBITDA of INR 2,475 crore (+32% YoY), driven by the NRT acquisition and broad-based generic growth. EBITDA margin expande

Eicher Motors delivered a record Q4 FY25 with consolidated revenue of INR 5,241 crore and EBITDA of INR 1,258 crore. Royal Enfield sold 1,002,893 motorcycles in FY25, crossing the million mark for the first time, driven

Escorts Kubota reported Q4 FY25 standalone revenue of INR 2,430.3 crore (+6.1% YoY) and EBITDA of INR 292.9 crore (+0.7% YoY), with margins at 12.1%. PAT stood at INR 250.7 crore (+0.9% YoY). Tractor volumes grew 7.6% Yo

Exide Industries reported a modest 4% YoY revenue growth in Q4 FY25, with 75% of the business registering double-digit growth, but the remaining 25% dragged down by weak demand in auto OEMs, telecom, and home inverters.

Fortis Healthcare reported a strong Q4 FY25 with consolidated revenue of INR 2,007 crore (+12.5% YoY) and EBITDA margin of 21.7% (+40bps YoY). Hospital revenue grew 14.2% to INR 1,701 crore, driven by 9% ARPOB growth and

GAIL reported a strong FY25 with consolidated PAT of INR 12,450 crore (+26% YoY), driven by record EBITDA and PBT. Gas transmission volumes grew 6% to 127.32 MMSCMD, and marketing volumes rose 3% to 101.49 MMSCMD. The pe

Gland Pharma's Q4 FY25 consolidated revenue was INR 1,424.9 crore with EBITDA of INR 347.5 crore (24% margin, +100bps YoY). Base business (ex-Cenexi) revenue declined 12% YoY to INR 1,033.2 crore due to high base and ten

Glenmark's Q4 FY25 consolidated revenue grew 6.3% YoY to INR 3,256 crore, with full-year revenue up 12.8% to INR 13,322 crore. Adjusted PAT was INR 246.6 crore (margin 10.6%). India formulation sales were flat (+0.4% YoY

Godrej Properties delivered a record Q4 FY25 with booking value of INR 10,163 crore, up 7% YoY, and full-year bookings of INR 29,444 crore, up 31% YoY. Collections surged 49% to INR 17,047 crore, and operating cash flow

Grasim reported standalone revenue of INR 8,929 crore in Q4 FY25, up 32% YoY, driven by strong traction in new ventures Birla Opus and Birla Pivot. Birla Opus achieved a 10% revenue market share (including Birla White pu

GFL reported Q4 FY25 revenue of INR 1,225 crore (+8% YoY) and EBITDA of INR 305 crore (+28% YoY), with margins expanding 400 bps to 25%. PAT nearly doubled to INR 191 crore. Growth was driven by fluoropolymers volume and

HAL reported FY25 revenue of ₹30,105 crore, up 7.25% YoY (adjusted for one-time prior year items), with operating EBITDA margin maintained at ~31%. Growth was constrained by GE engine supply issues for LCA Mk1A and ALH f

Happiest Minds delivered a strong FY25 with constant currency revenue growth of 25.6%, reaching $244M and crossing the INR 2,000 crore threshold. Q4 constant currency growth was 1.1% QoQ and 27.9% YoY, impacted by a $1.5

Havells India reported a decent Q4 FY25 with healthy revenue and profit growth, led by large appliances and cables. However, consumer sentiment remained subdued due to inflation, and commodity price volatility persisted.

HCLTech reported FY25 revenue of $13.84B, up 4.7% YoY in constant currency, with operating margin of 18.3% (+7bps YoY). Q4 revenue declined 0.8% sequentially due to software seasonality, but services grew 0.7% QoQ. Net n

HDFC Bank's Q4 FY25 results reflect steady execution of its post-merger strategy. The credit-deposit ratio has been reduced to ~96% from ~110% at merger, with deposits growing faster than loans. Net interest margin remai

HDFC Life reported a solid Q4 FY25 with PAT up 15% to INR 1,802 crore, driven by strong backbook profit growth of 18%. Individual APE grew 18% for the full year, with broad-based growth across channels and products. ULIP

Hero MotoCorp reported Q4 FY25 revenue of INR 9,939 crore, EBITDA of INR 1,416 crore, and PAT of INR 1,081 crore. The ICE EBITDA margin stood at 16.1%, while overall margin including EV investments was 14.2%. For FY25, r

HFCL reported FY25 consolidated revenue of INR 4,064 crore, down ~9% YoY, impacted by subdued optical fiber cable demand and slower EPC execution. EBITDA surged to INR 507 crore (vs INR 82 crore in FY24) due to a low bas

Hindalco delivered a record-breaking Q4 FY25 with consolidated EBITDA up 24% YoY to INR 9,774 crore and PAT up 66% YoY to INR 5,284 crore. India aluminum upstream EBITDA hit a record INR 4,838 crore with industry-best ma

HUL reported FY25 revenue of INR 60,680 crore with 2% USG and 2% UVG, while PAT grew 5% to INR 10,644 crore. EBITDA margin contracted 30bps to 23.5% due to commodity inflation and stepped-up investments. Management guide

Hindustan Zinc delivered a record year with highest-ever mined and refined metal production. FY25 revenue grew 18% YoY to INR 34,083 crore, EBITDA rose 28% to INR 17,465 crore with margins expanding 400 bps to 51%, and P

ICICI Bank reported a strong Q4 FY25 with PAT growing 18% YoY to INR 126.30 billion, driven by robust core operating profit growth of 13.7% YoY and stable asset quality. Net interest income rose 11% YoY to INR 211.93 bil

IEX reported a strong Q4 FY25 with consolidated revenue of INR 174.6 crore (+17% YoY) and PAT of INR 117.1 crore (+21.1% YoY), driven by record electricity volumes of 31.7 BU (+18% YoY) and a surge in REC trading (6.8M u

IRCTC reported a record Q4 FY25 with operating revenue of INR 1,269 crore, up 10% YoY, driven by strong performance in internet ticketing, tourism, and catering. Tourism revenue surged 38% YoY to INR 274 crore, while int

IRFC reported steady Q4 FY25 results, with management highlighting a strategic shift from a single-client model (Indian Railways) to a diversified portfolio within the railway ecosystem. The company has already sanctione

IGL reported FY25 revenue of INR 16,400 crore (+6% YoY) with EBITDA of INR 1,978 crore and PAT of INR 1,468 crore. Volume grew 6% to 8.99 MMSCMD, driven by 11% PNG growth and 6% CNG growth (8% ex-DTC). Q4 EBITDA per SCM

Indus Towers delivered a strong Q4 FY25 with gross revenues of ₹7,730 crore (+7.4% YoY) and core rental revenue growth of 10% YoY to ₹5,040 crore. EBITDA of ₹4,400 crore (margin 56.9%) was flat YoY, but normalized EBITDA

IndusInd Bank reported a full-year PAT of INR 2,575 crore despite a Q4 loss due to massive one-offs. The bank recognized INR 1,885 crore in microfinance misclassification and INR 1,960 crore derivative accounting reversa

Infosys reported FY25 constant currency growth of 4.2% with operating margin of 21.1% and large deal TCV of $11.6 billion. The company guided FY26 revenue growth of 0%-3% CC and margin of 20%-22%, reflecting heightened u

IndiGo reported a strong Q4 FY25 with net profit of INR 3,068 crore, up 62% YoY, driven by robust demand from Maha Kumbh and wedding season. Revenue reached INR 23,100 crore (total income INR 23,100 crore). Passenger gro

Jio Financial Services reported a strong FY2025 with consolidated PAT of INR 1,613 crore, nearly flat YoY (+0.5%), as higher expenses offset income growth. Core business income surged 101% YoY to INR 349 crore, driven by

JSW Steel reported a strong Q4 FY25 with consolidated revenue of INR 44,819 crore and EBITDA of INR 6,378 crore (14.2% margin). PAT doubled QoQ to INR 1,501 crore. Record quarterly crude steel production of 7.63 million

Kalyan Jewellers reported a strong Q4 FY25 with consolidated revenue of INR 6,182 crore (up 36% YoY) and PAT of INR 188 crore (up 37% YoY). India revenue grew 38% to INR 5,350 crore, while Middle East revenue rose 26% to

KFin Technologies delivered a resilient Q4 FY25 with revenue of INR 283 crore (+24% YoY) and EBITDA margin of 43.2%, despite market headwinds. PAT stood at INR 85 crore (+14.5% YoY). Growth was driven by strong annuity r

Kotak Mahindra Bank's Q4 FY25 standalone PAT came in at INR 3,552 crore, though the year-ago quarter included one-offs. The bank navigated the RBI tech embargo and elevated credit costs in unsecured and microfinance segm

L&T reported a robust Q1 FY25 with group revenues of ₹55,100 crore (+15% YoY) and PAT of ₹2,800 crore (+12% YoY), driven by strong execution in infrastructure, hydrocarbon, and precision engineering. Order inflows grew 8

M&M delivered a strong Q4 FY25 with SUV volumes up 20% and market share reaching 22.5% (+210bps). Farm tractor market share hit a record 43.3% (+170bps) with standalone margins at 20.8% in Q4. The BEV business is EBITDA

Maruti Suzuki reported Q4 FY25 net sales of ₹38,800 crore (+5.7% YoY) and net profit of ₹3,710 crore (-4.1% YoY), impacted by higher other expenses, new plant overheads, and adverse mix. Volumes hit a record 604,635 unit

NTPC reported a strong FY25 with consolidated revenue of INR 1,90,862 crore (+5% YoY) and PAT of INR 23,953 crore (+12% YoY), driven by higher generation, improved JV profits, and renewable expansion. Standalone PAT grew

ONGC's Q4 FY25 standalone PAT declined 12.1% YoY to INR 35,610 crore, primarily due to a INR 4,257 crore increase in exploration write-offs. Revenue was flat at INR 137,361 crore. Crude oil production rose 0.9% to 18.558

Power Grid reported a strong Q4 FY25 with consolidated revenue of INR 12,591 crore and PAT of INR 4,143 crore. For FY25, consolidated revenue was INR 47,459 crore (flat YoY) and PAT was INR 15,521 crore. The company achi

Reliance Industries reported a mixed Q4 FY25 with O2C weakness offset by strong consumer business performance. Jio Platforms delivered 17% YoY EBITDA growth to INR 17,000 crore, driven by 6.1M net subscriber additions an

SBI Life reported a strong Q4 FY25 with PAT up 27% to INR 24.13 billion, driven by improved product mix and margin expansion. Individual new business premium grew 11% to INR 263.6 billion, with private market share at 25

SBI reported FY25 net profit of INR 70,901 crore, up 16.08% YoY, driven by strong credit growth of 12% and stable asset quality with slippage ratio of 0.55%. Domestic advances grew 11.56% led by SME (16.86%) and agricult

Sun Pharma reported Q4 FY25 consolidated revenue of INR 12,816 crore, up 8.5% YoY, with EBITDA of INR 3,716 crore (+22.4% YoY) and margin expansion of 340 bps to 28.7%. India formulation sales grew 13.6% YoY, while US sa

Tata Consumer Products reported a strong Q4 FY25 with consolidated revenue of INR 4,608 crore, up 17% YoY (12% organic). India branded business UVG grew 6%, with tea volumes up 2% and salt volumes up 5%. EBITDA margin co

Tata Motors reported a strong Q4 FY25 with record full-year revenue and PBT, driven by JLR's highest quarterly PBT in nine years and robust CV margins. JLR achieved net cash positive status, while the India PV business f