As Q4FY25 earnings season wraps up, major Indian companies like Larsen & Toubro (L&T), Bharat Forge, REC, and Asian Paints have announced their quarterly financials along with dividend payouts. The market reacted positively to some and was disappointed by others—let’s break it down company-wise.
Larsen & Toubro (L&T) Q4FY25 Results: Strong Growth Across the Board
L&T, the engineering and infrastructure powerhouse, delivered a robust performance in the fourth quarter of FY25.
- PAT Growth: ₹5,497 crore, up 25% YoY from ₹4,396 crore
- Revenue: ₹74,392 crore, up 11% YoY from ₹67,079 crore
- EBITDA: ₹8,203 crore, rose 13% YoY with margin improving slightly to 11% from 10.8%
FY25 Annual Performance:
- Net Profit: ₹15,037 crore (15% YoY growth)
- Revenue: ₹2,55,734 crore (16% YoY growth)
- EBITDA: ₹26,435 crore, with a margin of 10.3% (vs. 10.6% last year)
Dividend Update:
The board has recommended a final dividend of ₹34 per equity share for FY25.
Bharat Forge Q4FY25: Profit Up Despite Revenue Dip
Bharat Forge surprised the street with a 24.44% YoY jump in consolidated net profit to ₹282.62 crore despite a fall in revenues.
- Revenue: ₹3,852.6 crore, down 7.48% YoY
- PBT (Before Exceptional Items): ₹429.4 crore, up 23.99%
- EBITDA: ₹671.1 crore, a modest 2.71% increase
The company managed cost efficiencies well, with expenses down by 9.38% YoY.
Segment-Wise Insights:
- Forgings Revenue: Slight rise of 0.82% to ₹3,436.23 crore
- Defence Segment: Dropped significantly by 49.29% to ₹284.35 crore
Dividend Update:
A final dividend of ₹6 per share was declared. The payout is scheduled on or after August 12, 2025, post AGM approval.
REC Q4FY25: Steady Performance with Strong Interest Income
Rural Electrification Corporation (REC) reported a 5.6% YoY growth in net profit for Q4FY25, showing consistent financial discipline.
- Net Profit: ₹4,309 crore, up from ₹4,079 crore YoY
- Net Interest Income (NII): ₹5,877 crore, a robust 38% YoY rise
- Total Income: ₹15,348 crore, up from ₹12,706 crore
FY25 Full-Year Highlights:
- Net Profit: ₹15,884.23 crore (Up from ₹14,145.46 crore)
- Total Income: ₹56,434 crore
REC’s core interest income and other operating income saw a strong uptick, pointing to solid asset quality and lending demand.
Dividend Update:
REC recommended a final dividend of ₹2.60 per share, adding to the ₹15.40 already paid this fiscal. Total dividend: ₹18 per share.
Asian Paints Q4FY25: Below Expectations Amid Weak Demand
India’s top paint manufacturer, Asian Paints, faced pressure in Q4 with a sharp drop in profits and revenue.
- Net Profit: ₹692 crore, down 45% YoY (vs ₹1,069 crore expected)
- Revenue: ₹8,359 crore, declined 4.3% YoY
Exceptional Items Impact:
Asian Paints recorded ₹182.96 crore in exceptional losses—primarily due to the exit from Indonesian operations and impairments in other international acquisitions.
Business Commentary:
The decorative paints segment saw volume growth of 1.8%, but revenue fell 5.2%. Competitive pressure and downtrading hurt margins.
Dividend Update:
The board recommended a final dividend of ₹20.55 per share, bringing the total FY25 dividend to ₹24.80 per share. The record date is June 10, and payout is on June 30, 2025.
Q4FY25 Earnings and Dividend Summary of Top Indian Companies
Investor Takeaway: Mixed Results but Strong Dividends
The latest Q4 numbers reveal mixed performances across sectors. L&T continues to be a stable compounder, Bharat Forge showed operational resilience, REC maintained steady profitability, while Asian Paints faced temporary setbacks due to external and internal factors.
Despite varied performances, dividends remain generous across all four companies, making them attractive for long-term income-focused investors. As earnings season ends, investors must now shift focus towards global cues and domestic macro indicators for their trading and investment strategies.
Disclaimer: The views and investment insights provided here are based on publicly available information and do not constitute financial advice. Readers are advised to conduct their own research or consult certified financial experts before making investment decisions.
