Q4 2025 Nirlon Ltd Earnings Call Transcript
Key Points
- Nirlon Ltd (BOM:500307) reported a total income of INR161 crore for Q4, marking a 4% year-on-year growth.
- The company's EBITDA for Q4 was INR126 crore, showing a 2% increase year-on-year, with EBITDA margins at 78.22%.
- Profit after tax for Q4 stood at INR54 crore, a 5% increase year-on-year, with PAT margins at 33.29%.
- For the full financial year 2025, Nirlon Ltd reported a total income of INR645 crore, a 6% growth year-on-year.
- The average occupancy rate for the company was high at 98.2% for Q4, indicating strong demand for their properties.
- There is ongoing frustration among shareholders regarding the lack of updates on the proposed restructuring, which has been pending for several quarters.
- Concerns were raised about the tax inefficiency of the current corporate structure, leading to significant tax leakage for minority shareholders.
- The management did not provide clear guidance on the use of excess cash reserves, which are expected to reach INR300 crore by the end of the year.
- Shareholders expressed dissatisfaction with the absence of GIC representatives in earnings calls, limiting direct communication with the majority shareholder.
- The transition of tenants, such as Morgan Stanley, has led to temporary drops in occupancy and revenue, impacting short-term financial performance.
Ladies and gentlemen, good day, and welcome to the Q4 and FY25 conference call of Nirlon Limited. (Operator Instructions) Please note that this conference is being recorded.
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 fourth quarter and 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 belief as well as assumptions made by and information currently available to the management. Audiences are
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