PPAP Automotive Limited

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17th May, 2025 The Listing Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400001 Symbol: 532934 The Listing Department The National Stock Exchange

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e Company. 2 PPAP at a Glance 45+ Years Of Legacy 5 Varied Technologies 50+ Diversified Customers 5 Business Segments 2,600+ No. of SKUs 5+ Electric Vehicles 10 Pan-India Operating Facilities 225

8.5%

tegic roadmap, and our continued agility in navigating industry headwinds. Revenue for Q4FY25 grew 8.5% YoY to INR 147.2 crore, while full-year revenue rose to INR 554.0 crore, registering a healthy 5.9

INR 147.2 crore

p, and our continued agility in navigating industry headwinds. Revenue for Q4FY25 grew 8.5% YoY to INR 147.2 crore, while full-year revenue rose to INR 554.0 crore, registering a healthy 5.9% increase despite a ch

INR 554.0 crore

try headwinds. Revenue for Q4FY25 grew 8.5% YoY to INR 147.2 crore, while full-year revenue rose to INR 554.0 crore, registering a healthy 5.9% increase despite a challenging macro environment. EBITDA surged by 43.

5.9%

.5% YoY to INR 147.2 crore, while full-year revenue rose to INR 554.0 crore, registering a healthy 5.9% increase despite a challenging macro environment. EBITDA surged by 43.9% YoY to INR 57.2 crore, wi

43.9%

ore, registering a healthy 5.9% increase despite a challenging macro environment. EBITDA surged by 43.9% YoY to INR 57.2 crore, with EBITDA margins expanding 270 bps YoY to 10.3%, driven by improved cost

INR 57.2 crore

ing a healthy 5.9% increase despite a challenging macro environment. EBITDA surged by 43.9% YoY to INR 57.2 crore, with EBITDA margins expanding 270 bps YoY to 10.3%, driven by improved cost control and operating

270 bps

ing macro environment. EBITDA surged by 43.9% YoY to INR 57.2 crore, with EBITDA margins expanding 270 bps YoY to 10.3%, driven by improved cost control and operating leverage. On the profitability front,

10.3%

onment. EBITDA surged by 43.9% YoY to INR 57.2 crore, with EBITDA margins expanding 270 bps YoY to 10.3%, driven by improved cost control and operating leverage. On the profitability front, we delivered

INR 7.0 crore

cost control and operating leverage. On the profitability front, we delivered a consolidated PAT of INR 7.0 crore in FY25, marking a decisive turnaround from a loss of INR 13.0 crore in FY24 underscoring our commi

INR 13.0 crore

elivered a consolidated PAT of INR 7.0 crore in FY25, marking a decisive turnaround from a loss of INR 13.0 crore in FY24 underscoring our commitment to operational excellence and financial discipline. In FY25,

““We are pleased to report a consistent improvement in our consolidated performance for Q4 and FY25, reflecting the strength of our business model, the effectiveness of our strategic roadmap, and our continued agility in navigating industry headwinds.”

“On the profitability front, we delivered a consolidated PAT of INR 7.0 crore in FY25, marking a decisive turnaround from a loss of INR 13.0 crore in FY24 underscoring our commitment to operational excellence and financial discipline.”

“In FY25, we secured new orders with a lifetime value of INR 601.4 crore, across both EV (INR 208.1 crore) and non-EV (INR 393.3 crore) verticals.”

“Our tooling business recorded healthy growth of 75% on a YoY basis in FY25.”

“The Board of Directors has declared a final dividend of INR 1.5 to reward the shareholders which leads to a cumulative dividend of INR 2.5 for FY25.” 5 Mr.”

“These orders include a significant business for electric vehicles, valued at ~INR 208 crore and from Non-EV customers valued at ~INR 393 crore, reflecting the company’s successful strategic partnerships with leading OEM’s and growing trust among EV players Ended the year on a strong note, receiving ~INR 188 crore in new lifetime orders in Q4 FY25 alone which includes ~INR 59 crore from EV business.”

“This strong performance highlights increasing customer traction and positions PPAP for sustained growth in FY26.”

“• Continue to grow topline at 20% plus per annum with a sharp focus on increasing number of SKUs • To strengthen distribution network for both domestic and international markets • The company aims to generate 10% of the overall revenue by FY27 from the aftermarket division”

“However, it remains loss-making, which contributed to a shortfall in our overall profitability guidance.”

PPAP Automotive Ltd said

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Comments

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Automotive Parts Business

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Aftermarket Business

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Tooling Business

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Investor Relations Advisors

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PPAP Automotive Ltd said

“We are pleased to report a consistent improvement in our consolidated performance for Q4 and FY25, reflecting the strength of our business model, the effectiveness of our strategic roadmap, and our continued agility in navigating industry headwinds. Revenue for Q4FY25 grew 8.5% YoY to INR 147.2 crore, while full-year revenue rose to INR 554.0 crore, registering a healthy 5.9% increase despite a challenging macro environment. EBITDA surged by 43.9% YoY to INR 57.2 crore, with EBITDA margins expanding 270 bps YoY to 10.3%, driven by improved cost control and operating leverage. On the profitability front, we delivered a consolidated PAT of INR 7.0 crore in FY25, marking a decisive turnaround from a loss of INR 13.0 crore in FY24 underscoring our commitment to operational excellence and financial discipline. In FY25, we secured new orders with a lifetime value of INR 601.4 crore, across both EV (INR 208.1 crore) and non-EV (INR 393.3 crore) verticals. The new growth areas where we have b

Comments

 Revenue stood at INR 537.6 Cr in FY25, +6.7% YoY, supported by a strong order pipeline and stable execution across key verticals  Gross margins improved significantly to 42.8% in FY25 from 40.6% in FY24, indicating better product mix and raw material cost efficiencies  EBITDA stood at INR 60.6 Cr, up by 38.2% YoY, with EBITDA margin expanding to 11.3% from 8.7%, driven by operating leverage and continued focus on cost optimization  PAT stood at INR 14.1 Cr versus a loss of INR 4.7 Cr in FY24, reflecting improved profitability due to better execution, operating efficiency  With intact, fundamentals management’s continued emphasis on working capital discipline, execution efficiency, and margin preservation will play a pivotal role in sustaining growth momentum 12 Standalone Balance Sheet Liabilities (INR Cr) Equity Equity Share capital Other Equity Total Equity Financial liabilities (i) Borrowings (ii) Lease liabilities (iii) Other Financial liabilities Provisions Deferred tax liab

Automotive Parts Business

• Focus on increasing content per vehicle through development of value-added products that will command higher margins • Timely execution of a robust order book over next 5 years • To increase exports which has commenced to USA and further, exploring for GCC countries • To onboard new customers and increase the share of business

Aftermarket Business

• Continue to grow topline at 20% plus per annum with a sharp focus on increasing number of SKUs • To strengthen distribution network for both domestic and international markets • The company aims to generate 10% of the overall revenue by FY27 from the aftermarket division

Tooling Business

• Committed to fulfil order pipeline spanning across auto and non-auto customers • To enhance capacity upto 12 molds • To ramp up capacity utilisation and achieve operating leverage 19 Guidance and Roadmap to Margin Expansion FY24 FY25E Earlier Guidance FY25A Actual FY26E Revenue INR 523 Cr INR 550 to 575 Cr INR 554 Cr INR 600 to 660 Cr EBITDA INR 40 Cr INR 60 to 65 Cr INR 57.2 Cr INR 75 to 80 Cr PAT INR (13) Cr INR 10 to 13 Cr INR 7.1 Cr INR 20 to 25 Cr • The company's revenue performance remained stable, albeit at the lower end of the guided range, with overall growth tempered by broader trends in the auto industry. Robust momentum in segments such as utility vehicles and two-wheelers provided support, though relatively subdued demand in passenger cars and commercial vehicles impacted the overall growth trajectory • The battery division under Avinya (formerly PTech) delivered a relatively improved performance compared to the previous fiscal. However, it remains loss-making, which con

Investor Relations Advisors

CIN: L74899DL1995PLC073281 CIN: U74140MH2010PTC204285 Ms. Pankhuri Agarwal investorservice@ppapco.com Mr. Nitin Agarwal/ Mr. Karan Thakker nitin.agarwal@sgapl.net /karan.thakker@sgapl.net +91 83038 79589 / +91 81699 62562 www.ppapco.in www.sgapl.net 47