541353 - Innovators
Financial Performance
Revenue Growth by Segment
The company operates in a single segment: 'design, engineering, fabrication, supply and installation of facade systems'. Consolidated revenue from operations grew 2.91% YoY to INR 221.37 Cr in FY25 from INR 215.11 Cr in FY24.
Geographic Revenue Split
Not disclosed in available documents.
Profitability Margins
Consolidated PAT margin improved slightly from 7.10% in FY24 to 7.23% in FY25. Standalone PAT margin was 7.13% in FY25. The improvement is driven by better operational efficiencies despite a 13% increase in finance costs.
EBITDA Margin
Consolidated EBITDA margin improved from 14.90% in FY24 to 16.17% in FY25. Standalone EBITDA margin was 16.06% (INR 35.56 Cr). This 1.27 percentage point improvement reflects better project execution and margin management.
Capital Expenditure
The company spent INR 6.48 Cr (INR 648.01 Lakhs) on capital expenditure in FY25 for procurement of plant, machinery, and equipment to facilitate increased production requirements.
Credit Rating & Borrowing
The credit rating outlook was revised to 'Positive' from 'Stable' due to improved revenue and margins. Total borrowings stood at INR 60.63 Cr (Short-term: INR 51.66 Cr; Long-term: INR 8.97 Cr). Finance costs increased 13% YoY to INR 9.41 Cr.
Operational Drivers
Raw Materials
Façade engineering materials (specific names like aluminum or glass not explicitly listed) accounted for the bulk of 'Cost of Contracts' which totaled INR 150.06 Cr, representing 67.8% of total revenue.
Import Sources
Not disclosed in available documents.
Key Suppliers
Not disclosed in available documents.
Capacity Expansion
Current capacity in units is not disclosed, but the company invested INR 6.48 Cr in new plant and machinery during FY25 to cater to future demand and increased production needs.
Raw Material Costs
Cost of contracts (primarily raw materials and project execution) was INR 150.06 Cr in FY25, down from previous levels as a percentage of revenue, contributing to the EBITDA margin expansion to 16.17%.
Manufacturing Efficiency
Not disclosed in available documents.
Logistics & Distribution
Not disclosed in available documents.
Strategic Growth
Expected Growth Rate
Not disclosed in available documents
Growth Strategy
Growth is targeted through continuous expansion and upgradation of production facilities (INR 6.48 Cr CapEx in FY25). The strategy focuses on leveraging an established presence in façade engineering and a healthy order book to capitalize on real estate development.
Products & Services
Design, engineering, fabrication, supply, and installation of façade systems for buildings.
Brand Portfolio
Innovators Façade Systems Limited.
New Products/Services
Not disclosed in available documents.
Market Expansion
Not disclosed in available documents.
Market Share & Ranking
Not disclosed in available documents.
Strategic Alliances
Not disclosed in available documents.
External Factors
Industry Trends
The façade industry is evolving with a focus on building aesthetics and performance. The company is positioning itself by upgrading machinery to meet increased production requirements in a growing market.
Competitive Landscape
Not disclosed in available documents.
Competitive Moat
The company possesses a durable moat through its long track record, established presence in façade engineering, and a healthy order book, which are difficult for new entrants to replicate quickly.
Macro Economic Sensitivity
High sensitivity to the real estate sector and general economic conditions; the industry is capital intensive with varying gestation periods for projects.
Consumer Behavior
Not disclosed in available documents.
Geopolitical Risks
Not disclosed in available documents.
Regulatory & Governance
Industry Regulations
Compliance with the Companies Act, 2013 and Guidance Notes on Audit of Internal Financial Controls issued by the ICAI.
Environmental Compliance
Not disclosed in available documents.
Taxation Policy Impact
The company recorded a consolidated tax credit (Current & Deferred) of INR 5.39 Cr in FY25, compared to a tax expense of INR 4.80 Cr in FY24.
Legal Contingencies
The company has disclosed pending litigations in Note 30 of the financial statements, though the specific INR value of these contingencies is not provided in the snippets.
Risk Analysis
Key Uncertainties
Real estate cyclicality and input price volatility are the primary risks. A downturn in real estate could significantly lower the 2.91% revenue growth rate.
Geographic Concentration Risk
Not disclosed in available documents.
Third Party Dependencies
Not disclosed in available documents.
Technology Obsolescence Risk
The company uses accounting software with audit trail (edit log) facilities to ensure data integrity, though the feature was not enabled at the database level.
Credit & Counterparty Risk
Trade receivables increased 48.3% to INR 54.72 Cr in FY25. The debtors turnover ratio decreased from 5.84x to 4.05x, indicating slower collections and potential credit risk.