💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue from operations grew 32.56% YoY to INR 1,688.60 Lakhs in FY25 from INR 1,273.88 Lakhs in FY24. Specific segment-wise growth for thread vs. spline gauges is not provided.

Profitability Margins

Net Profit before tax margin was 18.88% in FY25 compared to 18.52% in FY24. Gross margin (Revenue minus RM) was 48.69% in FY25.

EBITDA Margin

EBITDA margin is approximately 20.33% (INR 343.26 Lakhs) for FY25, showing healthy core profitability.

Capital Expenditure

Total assets increased by INR 654.83 Lakhs YoY, reaching INR 3,409.93 Lakhs as of March 31, 2025, representing a 23.77% increase in the asset base.

Credit Rating & Borrowing

Not disclosed; however, finance costs increased by 244.96% to INR 14.04 Lakhs on borrowings of INR 1,299.06 Lakhs.

⚙️ Operational Drivers

Raw Materials

Steel and alloys (implied by gauge manufacturing) representing 51.31% of total revenue.

Raw Material Costs

Raw material costs were INR 866.41 Lakhs in FY25, up 17.86% from INR 735.13 Lakhs in FY24, representing 51.31% of revenue.

📈 Strategic Growth

Expected Growth Rate

Not disclosed

Growth Strategy

Growth is achieved through a 32.56% YoY increase in revenue from operations (INR 1,688.60 Lakhs) by leveraging its specialized product portfolio of precision gauges and the operational capabilities of its subsidiaries including ProtoD Technology and Aurum Technology.

Products & Services

Thread Gauges, Plain Gauges, Multi Gauging, Taper Gauges, Spline Gauges, PCD & Relation Gauges.

Brand Portfolio

Sizemasters.

Strategic Alliances

The group includes subsidiaries ProtoD Technology Private Limited, Sizemaster Calibrations Services LLP, and Aurum Technology LLP.

🌍 External Factors

Industry Trends

The precision gauging industry is evolving with higher demand for complex gauges; the company is positioned as a specialized manufacturer with a 32.56% revenue growth rate.

Competitive Moat

Technical expertise in manufacturing a diverse range of precision gauges (Thread, Plain, Multi, Taper, Spline, PCD) and providing calibration services through its LLP subsidiary.

Macro Economic Sensitivity

Highly sensitive to industrial manufacturing cycles; PBT grew 35.15% YoY to INR 318.82 Lakhs, reflecting strong performance in a growing economy.

Consumer Behavior

Industrial customers are increasingly requiring specialized gauging solutions like Multi Gauging and Relation Gauges.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with Ind AS and the Companies Act 2013; adherence to precision manufacturing and calibration standards.

Taxation Policy Impact

Current tax expense of INR 88.47 Lakhs on PBT of INR 318.82 Lakhs results in an effective tax rate of 27.75%.

Legal Contingencies

Pending litigations are disclosed in Note 35.1; no material foreseeable losses on long-term contracts or derivatives were reported.

⚠️ Risk Analysis

Key Uncertainties

Potential for improper management override of controls and the risk of internal controls becoming inadequate due to changing conditions.

Geographic Concentration Risk

100% of registered operations are based in Pune, Maharashtra (Registered Office: Ramtekdi Industrial Estate, Hadapsar).

Technology Obsolescence Risk

Risk of traditional gauges being replaced by digital metrology and non-contact measurement technologies.