Q1 2025 Nirlon Ltd Earnings Call Transcript
Key Points
- Nirlon Ltd (BOM:500307) reported a total income of INR158 crores for Q1 FY25, reflecting a year-on-year growth of approximately 6.6%.
- EBITDA for the quarter stood at approximately INR122 crores, representing a year-on-year growth of about 4%.
- The company's average occupancy rate for Nirlon Knowledge Park and Nirlon House combined was stable at 99.8%, with NKP remaining 100% occupied.
- Despite the vacating notices from Morgan Stanley, the company has seen consistent interest for relicensing the space.
- The company is actively exploring potential restructuring or other value-accretive measures to benefit shareholders.
- Profit after tax for the quarter was approximately INR50 crores, which remained stable year-on-year but declined by about 3% quarter-on-quarter.
- EBITDA margins saw a quarterly decline of about 1%, despite the year-on-year growth.
- The applicable tax rate increased to 34.94% from 29.12% due to the company's turnover exceeding INR400 crores in FY22-23.
- The company faces challenges in selling Nirlon House due to regulatory and ownership complexities.
- Investors expressed concerns over high taxes and requested quicker decisions on restructuring and more involvement from key stakeholders like GIC.
Ladies and gentlemen, good day, and welcome to the Q1 FY25 conference call of Nirlon Limited. (Operator Instructions)
I now hand the conference over to Ms. Purvangi Jain from Valorem Advisors. Thank you, and over to you, ma'am.
Good afternoon, everyone. My name is Purvangi Jain from Valorem Advisors. We represent the Investor Relations for Nirlon Limited. On behalf of the company, I would like to thank you all for participating in the company's earnings call for the first quarter of the financial year 2025.
Before we begin, let me mention a short cautionary statement. Some of the statements made in today's earnings call may be forward-looking in nature. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from those anticipated. Such statements are based on management's beliefs as well as assumptions made by and information currently available to the management.
Audiences are cautioned not to place any undue reliance on
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