Profit before tax (PBT) soared 125.45% YoY to Rs 7.44 crore during the quarter.

Operating EBITDA stood at Rs 17.9 crore, registering the growth of 36.64% as compared with Rs 13.1 crore posted in same quarter last year. Operating EBITDA margin was 12.7% in Q2 FY25 as against 9.3% in Q2 FY24.

Maruti Suzuki and SMG is the largest customer of the company and it contributes 52% to the overall revenues. The company has commenced supplying parts to Maruti’s New Swift Dzire.

The company expects to conclude FY25 with revenues being in the range of approximately Rs 550 crore to Rs 575 crore and aim to maintain EBITDA margins between 11% to 12%.

Ajay Kumar Jain, chairman & MD of PPAP Automotive, said, “On a standalone basis, EBITDA registered a growth of 45.5% on a YoY basis to Rs 29.9 crore. EBITDA margins saw a sharp uptick, rising from 8.2% in H1FY24 to 11.5% in H1FY25, reflecting a robust growth of 230 basis points. This margin expansion can be attributed to the optimized utilization of existing assets, coupled with the softening of raw material prices. Furthermore, the company's profitability has grown by 6.5x to Rs 7.1 crore in H1FY25, compared to Rs 1.1 crore in the same period last year. On a consolidated basis, we are pleased to share that the company has also turned profitable, reporting a PAT of Rs 3.3 crore for H1FY25.”

Meanwhile, the company’s board has declared interim dividend of Re 1 per share. The record date for the payment of interim dividend is Wednesday, 20 November, 2024. The interim dividend shall be paid within 30 days of declaration.

PPAP Automotive is a leading manufacturer of Automotive Sealing Systems, Interior and Exterior Automotive parts in India. The company’s state of the art manufacturing facilities are located in all the major Automotive Passenger Vehicle manufacturing hubs in North, West and South India.

The company has a current market captilisation of Rs 312.72 crore.