Gurugram, India | January 30, 2025
JTEKT India Limited (NSE: JTEKTINDIA, BSE: 520057) has released its unaudited financial results for the third quarter (Q3) and nine months ended December 31, 2024. The company reported a steady financial performance, driven by stable operational efficiencies and strategic business moves.
Financial Highlights (INR in Lakhs)
| Particulars | Q3 FY2025 | Q2 FY2025 | Q3 FY2024 | 9M FY2025 | 9M FY2024 | FY2024 (Audited) |
|---|---|---|---|---|---|---|
| Revenue from operations | 59,192.67 | 60,530.75 | 55,200.39 | 175,014.91 | 161,340.18 | 224,548.62 |
| Other income | 158.98 | 110.90 | 145.69 | 746.23 | 721.95 | 1,149.34 |
| Total income | 59,351.65 | 60,641.65 | 55,346.08 | 175,761.14 | 162,062.13 | 225,697.96 |
| Total expenses | 57,131.05 | 58,083.06 | 52,236.48 | 168,976.10 | 153,041.35 | 211,791.95 |
| Profit before tax (PBT) | 2,220.60 | 2,632.37 | 3,109.60 | 6,858.82 | 9,760.04 | 14,645.27 |
| Net profit after tax | 1,625.87 | 1,948.26 | 2,375.29 | 5,061.76 | 7,256.76 | 10,686.43 |
| EPS (Basic & Diluted) | 0.64 | 0.77 | 0.93 | 1.99 | 2.85 | 4.20 |
Performance Overview
- Revenue Growth: Revenue for Q3 FY2025 stood at ₹59,192.67 lakhs, showing a YoY increase of 7.23% but a QoQ decline of 2.2% from Q2 FY2025.
- Profitability Decline: Net profit declined 31.53% YoY, from ₹2,375.29 lakhs in Q3 FY2024 to ₹1,625.87 lakhs in Q3 FY2025, primarily due to higher operational costs and depreciation expenses.
- Exceptional Gains: The company recorded an exceptional gain of ₹73.78 lakhs related to leasehold land adjustments.
- EPS Impact: Earnings per share (EPS) for Q3 FY2025 stood at ₹0.64, down from ₹0.93 in Q3 FY2024.
Strategic Developments
- Leadership Appointment:
- Mr. Yosuke Fujiwara has been appointed as Wholetime Director for a two-year tenure effective February 1, 2025.
- Fujiwara, a seasoned executive with over two decades in JTEKT Corporation, brings strategic expertise in manufacturing and operational efficiency.
- Corporate Restructuring & M&A:
- The amalgamation of JTEKT Fuji Kiko Automotive India Limited with JTEKT India Limited was approved by NCLT in December 2023 and became effective on January 1, 2024.
- Shareholders of JTEKT Fuji Kiko received 200 shares of JTEKT India Limited for every 100 shares held.
- Dividend Declaration:
- A final dividend of ₹0.60 per share (60%) for FY2024 was approved and distributed following the August 2024 AGM.
- Real Estate Adjustments:
- The company surrendered its vacant leasehold land at Sanand, impacting profitability but optimizing asset utilization.