Q4 Results Highlights: Federal Bank NII at Rs 2,377.4 crore; Adani Power profit drops by 3.66%

The company board has also recommended an interim dividend of Rs 8, per equity share of face value of Re 1 each, for the financial year ending December 31, 2025, which will be paid on May 19, 2025.

CRISIL Ltd on Wednesday released its fiscal fourth quarter earnings report with profit at Rs 159.84 crore, posting a growth of 16.06 per cent in comparison to Rs 137.72 crore recorded during the corresponding quarter of FY24. It posted revenue from operations for the quarter in review at Rs 813.18 crore, up 10.23 per cent as against Rs 737.68 crore reported during the fourth quarter of previous financial year. The company EBITDA stood at Rs 232 crore, up 20.8 per cent on-year.

Exide Industries’ liquidity position remains comfortable with zero debt and high cash flow generation. In FY2024-25, cashflow from operations were Rs 1,298 crore.

Avik Roy, MD & CEO, said, “Financial year 2024-25 was characterised by tough macroeconomic conditions, resulting in lower capex and investments across sectors. In this environment, our focus remained on delivering stable performance along with maintaining a strong balance sheet and positive cash flow generation profile, thereby establishing our resilience and ability to navigate business challenges. During the year, while the overall sales increased marginally, we maintained double-digit growth momentum in auto replacement, industrial UPS and solar verticals. However, auto OEMs and industrial verticals were impacted by lower demand. In the international business, we entered newer geographies to increase global presence and market share. We expect the overall demand scenario to improve going ahead and will continue to focus on driving sales and achieving cost efficiencies.”

The company board has recommended a dividend of Rs 2 per equity share of face value of Re 1 each fully paid up (i.e. 200 per cent) for the financial year ended 31 March 2025. “Dividend, if approved by the shareholders of the Company, shall be paid within 30 days after the conclusion of the AGM to those shareholders, whose names appear in the Company’s Register of Members/ Register of Beneficial Owners maintained by the Depositories viz., National Securities Depository Limited and Central Depository Services (India) Limited as at the close of business hours on 19th July 2025,” the company said in a regulatory filing.

Exide Industries’ EBITDA margin moderated to 11.2 per cent during the quarter impacted by high raw material prices. Prices of raw materials such as antimony have significantly increased in the last 6 months, thereby impacting margins on a sequential basis. Despite this, EBITDA has increased by 4 per cent on QoQ basis, it said.

Exide Industries Ltd on Wednesday released its fiscal fourth quarter earnings report with profit at Rs 186.87 crore, reporting a marginal growth of 1.15 per cent as against Rs 184.74 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 4,335.42 crore, up 3.89 per cent in comparison to Rs 4,172.90 crore recorded during the fourth quarter of previous financial year.

The company board has recommended payment of a dividend of Rs 2 per share (100 per cent) on the face value of Rs 2 each for the financial year ended 31st March, 2025, subject to approval of the shareholders at the ensuing Annual General Meeting of the Company.

Greaves Cotton Ltd on Wednesday released its fiscal fourth quarter earnings report with profit at Rs 24.05 crore, posting a jump of 839.45 per cent in comparison to Rs 2.56 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 822.83 crore, up 22.35 per cent as against Rs 672.53 crore reported during the fourth quarter of previous financial year. The company EBITDA at Rs 45.7 crore, up 92.8 per cent YoY.

Due to the relatively lower margin profile of owned brands in the South African market and the higher mix of CSD in India, gross margins stood at 54.6 per cent, reporting a decline of 171 basis points as compared to Q1 CY2024.

Varun Beverages’ consolidated sales volume grew by 30.1 per cent to 312.4 million cases in Q1 CY2025 from 240.2 million cases in Q1 CY2024 driven by strong organic volume growth of 15.5 per cent in India and in-organic volume contributions from South Africa and DRC.

Ravi Jaipuria, Chairman, Varun Beverages Limited, said, “We are pleased to report a strong operational and financial performance in the first quarter of CY2025. Consolidated sales volumes grew by 30.1% YoY, driven by healthy organic volume growth of 15.5% in India. The integration of the SA territory has progressed well, with focused efforts on strengthening on-ground infrastructure, streamlining operations, and enhancing execution across the market. We achieved 141 million cases in SA over the trailing four quarters, marking a growth of ~13% over the same period last year. Historically, net realizations in SA are lower due to a higher mix of own brands; however, we are actively working to scale PepsiCo’s portfolio, which is expected to support improvements in realizations and margins going forward.”

The company board recommended a final dividend of Rs 0.50 per equity share of the face value of Rs 2 each for the year ended 31 December 2024. This was approved by the shareholders at the Annual General Meeting held on 03 April 2025 and subsequently paid in April 2025. In line with the guidelines of company’s dividend policy, the board has approved an interim dividend @ 25 per cent of face value i.e. Rs 0.50 per share. Total cash outflow would be around Rs 1,691 million, it said.

Varun Beverages Ltd on Wednesday released its quarter earnings for first quarter of CY2025 with profit at Rs 726.49 crore, posting a growth of 35.22 per cent in comparison to Rs 537.27 crore recorded during the corresponding quarter of previous year. It posted revenue from operations at Rs 5680.03 crore, up 29.15 per cent as against Rs 4397.98 crore recorded during the year ago period. The company EBITDA stood at Rs 1,264 crore, up 27.8 per cent YoY.

InCred Equities said, “Cement sales volume of ACC grew by 14% yoy and 1% above our estimate, implying higher sales momentum under MSA (Master Supply Agreement) with group companies and the highest-ever mix of premium products at ~41% of trade sales vs. 32% qoq. ACC achieved its highest annual sales volume of 42.2mt, up 14% in FY25, driven by faster ramp-up and leveraging its MSA arrangements. For FY26F, it has given guidance of ~7-8% industry growth. ACC grey cement realization saw an improvement of ~3% qoq due to improved pricing scenario and rising weightage of premium product sales. Readymix concrete or RMC revenue increased by ~30% yoy in 4QFY25 and by ~7% in FY25.”

Federal Bank will release its fourth quarter earnings report today (April 30). An analysis report by Sharekhan stated that NIMs are likely to be lower sequentially while loan growth is expected at 13 per cent YoY. Key monitorables, per the brokerage firm, would be growth outlook and trend in return ratio.

According to a CNBC TV18 poll, Federal Bank is expected to post Q4 profit at Rs 977.5 crore and net interest income (NII) is estimated at Rs 2431.9 crore.

Ambuja Cements (ACEM IN) reported a consolidated EBITDA of ~Rs 18.7bn, primarily aided by lower-than-expected operating cost. Elara Securities said, “While staff cost fell due to a reduction in employee strength, the fall in other expenses was driven by lower spending on advertising and sales promotional expenses. Cash and cash equivalents stood at ~Rs 101bn as of end-March 2025 versus ~Rs 87.5bn as of end-December 2024 and ~Rs 160bn as of end-March 2024. On 22 April 2025, ACEM completed the acquisition of Orient Cement (ORCMNT IN). We expect volume ramp-up from acquired assets to enable the company to grow faster than the industry. Current prices in its core market are ~Rs 7/bag better than Q4 average, which should support near-term margin.”

L&T Finance (LTF) reported PAT of Rs 6.3 billion, up 2% QoQ/15% YoY in Q4FY25, translating into RoA of 2.2% and RoE of 10%. ICICI Securities said, “In line with guidance, LTF utilised macro prudential buffer of Rs 3 billion (Rs 1 billion utilised in Q3FY25) for its rural business finance (RBF) portfolio. As a result, credit cost (before buffer utilisation) stood at 3.8 per cent, while Q4FY25 reported credit cost (post buffer utilisation) was 2.54 per cent. Overall, for FY25, it ended with 2.5 per cent credit cost despite the challenging environment, especially for RBF.”

Cholamandalam Investment and Finance Company or CIFC continues to witness sluggishness in disbursements as its management remains cautious on vehicle & home loans, and also the continued slowdown in consumer and small enterprise loans (CSEL) as the company is moving out from fintech partnerships. Overall disbursements grew by 2.4% qoq/6.6% yoy led by loans against property (LAP), home loans and vehicle finance while all other businesses posted a muted performance.

InCred Equities said, “We appreciate the dynamic management practices of CIFC; however, elevated contribution from the auto financing segment (>50%), along with a gradual seasoning of new businesses, will drive cyclicity in earnings. We believe all positives are priced in and retain HOLD rating on CIFC with a higher target price of Rs 1,550 (Rs 1,300 earlier) or ~3.8x FY27F BV. Upside risk: Better-than-expected AUM growth. Downside risk: Higher-than-expected credit costs.”

In Q4FY25, Indiamart added ~2.14k paying subscribers. Customer collections rose by ~9% YoY to Rs 5.06 billion, aided entirely by an increase in average revenue per user (ARPU). Nomura said, “We note that consistently weak growth in collection per customer is coinciding with consistently low net subscriber addition (average of ~2k over the past five quarters). This limits IndiaMart’s ability to improve collections from existing customers meaningfully, as it has fewer new customer share in the mix to likely upgrade to Gold/Platinum packages, in our view. Therefore, we believe collections for IndiaMart could remain weak in the near-to-medium term until the churn reduces, gross addition increases and, subsequently, net subscriber addition improves.” The brokerage firm revised its FY26-27 PAT estimates by -2 per cent to 3 per cent.

Axis Bank’s Q4FY25 NII stood at Rs 1,38,105 million, up 5.5% YoY. The Bank’s PPOP for the quarter came in at Rs 1,07,524 million, up 2.1% YoY led by operating efficiencies, while the Net profit declined by 0.2% YoY to Rs 71,175 million.

Deven Choksey Research said, “We have changed our book value estimates for FY26E / FY27E by +1.1% / +1.3% to Rs 658.4 / Rs 764.7 respectively, driven by improvement in liability-side strength, stabilizing asset quality, and margin resilience. These drivers reinforce our view that the bank is poised for an acceleration in core profitability over the medium term.”

Today, major companies including Vedanta, Adani Power, Indian Oil Corporation, Indus Towers, Varun Beverages, Jindal Steel & Power, JSW Infrastructure, Skipper, Phoenix Mills, Godrej Agrovet, Federal Bank, Ajanta Pharma, CRISIL, Exide Industries, Bandhan Bank, Go Fashion India, Ujjivan Small Finance Bank, and several others are lined up to release their Q4 results.

Good Morning! With the fiscal fourth quarter earnings season in full swing and a number of companies across key segments already having released their Q4 numbers, we, at FinancialExpress.com, are continuously bringing to you all the updates. Through this live blog, we will continue to bring to you all the updates on company results to be announced today, while also talking about how the companies performed till date.