Consolidated PAT Surges 27% YoY, Revenue Up 25%
New Delhi, India – February 4, 2025 – Sterling Tools Limited (BSE: 530759, NSE: STERTOOLS), a leading manufacturer of automotive fasteners and EV components, reported robust financial results for Q3 and nine months ended December 31, 2024.
Key Consolidated Financial Highlights (Q3 & 9M FY25)
| Financial Metrics | Q3 FY25 | Q3 FY24 | YoY % | 9M FY25 | 9M FY24 | YoY % |
|---|---|---|---|---|---|---|
| Total Income (₹ Cr.) | 262.7 | 234.0 | 12.3% | 832.3 | 668.3 | 24.5% |
| Adjusted EBITDA (₹ Cr.) | 31.7 | 28.1 | 13.0% | 105.9 | 84.2 | 25.8% |
| Adjusted EBITDA Margin (%) | 12.1% | 12.0% | - | 12.7% | 12.6% | - |
| Profit After Tax (₹ Cr.) | 13.6 | 13.6 | - | 49.5 | 39.1 | 26.5% |
| PAT Margin (%) | 5.2% | 5.8% | - | 5.9% | 5.9% | - |
Key Standalone Financial Highlights
| Financial Metrics | Q3 FY25 | Q3 FY24 | YoY % | 9M FY25 | 9M FY24 | YoY % |
|---|---|---|---|---|---|---|
| Total Income (₹ Cr.) | 155.1 | 142.7 | 8.7% | 486.4 | 446.7 | 8.9% |
| EBITDA (₹ Cr.) | 20.5 | 21.3 | -4.0% | 69.9 | 64.9 | 7.6% |
| EBITDA Margin (%) | 13.2% | 14.9% | - | 14.4% | 14.5% | - |
| Profit After Tax (₹ Cr.) | 8.3 | 8.8 | -5.4% | 31.6 | 26.8 | 17.8% |
| PAT Margin (%) | 5.4% | 6.2% | - | 6.5% | 6.0% | - |
Strategic Growth & Industry Expansion
- EV Component Expansion: STL has reinforced its EV market presence through its wholly owned subsidiary, Sterling Tech-Mobility Limited (STML).
- Key Partnerships:
- MoU with MOTIVELINK Co., Ltd to manufacture magnetic components for India's EV and electronics manufacturing industry.
- JV with China’s Kunshan GLVAC Yuantong New Energy Technology Co., Ltd to manufacture HVDC Contactors and Relays in India.
- Tie-up with Zhejiang Meishuo Electric Technology Co., Ltd to produce Latching Relays for energy, industrial grids, and EV applications.
- Manufacturing Expansion: A new HVDC Contactors plant in Bengaluru is under commissioning, aligning with the Indian government’s Atmanirbhar Bharat initiative.
Management Commentary
"We continue to witness strong momentum, particularly in our EV-focused subsidiary SGEM, which has significantly contributed to our topline growth. Our strategic collaborations and new ventures align with evolving industry demands and India's localization goals. We are committed to long-term sustainable growth and look forward to unlocking further market potential," said Mr. Atul Aggarwal, Managing Director, Sterling Tools Limited.Future Outlook
- Strengthening its EV component portfolio with advanced power electronics solutions.
- Expanding domestic and international presence in high-growth auto and industrial markets.
- Leveraging strategic partnerships to drive import substitution and build a self-reliant ecosystem in India.
About Sterling Tools Limited (STL)
Founded in 1979, STL is a leading automotive fastener manufacturer serving India’s top OEMs. Through Sterling Gtake E-Mobility Limited (SGEM), the company is a pioneer in EV powertrain solutions. The company is rapidly diversifying into high-growth segments such as HVDC Contactors, Magnetic Components, and Relays.