💰 Financial Performance

Revenue Growth by Segment

The company operates in a single segment of Aluminium Extrusions. Total Operating Income (TOI) grew 15% YoY to INR 431.25 Cr in FY25 from INR 375.10 Cr in FY24. Previously, revenue grew 15% from INR 322.46 Cr in FY22 to INR 371.01 Cr in FY23, and remained stable with marginal growth to INR 375.10 Cr in FY24.

Geographic Revenue Split

The company maintains a diversified revenue profile with a pan-India presence serving approximately 500 customers. Specific regional percentage splits are not disclosed, but the profile is described as diversified across various sectors including industrial, power, and engineering.

Profitability Margins

Net Profit (PAT) margins have shown an upward trend, increasing from 1.60% in FY23 to 1.98% in FY24, and further to 2.30% in FY25. This improvement is driven by a shift toward value-added products in the portfolio. For H1 FY26, the company reported a Net Profit of INR 5.12 Cr on a Total Income of INR 213.90 Cr.

EBITDA Margin

EBITDA margins have remained stable at approximately 6% over the last two fiscal years. Absolute EBITDA increased 14% from INR 22.73 Cr in FY24 to INR 25.91 Cr in FY25 due to increased scale of operations. In FY23, the margin was 5.84% (INR 21.72 Cr).

Capital Expenditure

Not disclosed in available documents; however, the company maintains a comfortable capital structure with a long-term debt-equity ratio of 0.12x as of March 31, 2024.

Credit Rating & Borrowing

Ratings were reaffirmed with a 'Stable' outlook. Liquidity is 'Adequate' with average fund-based bank limit utilization at 79% for the 12 months ending May 2024. Interest costs increased in Q1 FY26 due to higher working capital utilization, impacting PAT which was INR 2.36 Cr compared to INR 2.43 Cr in Q1 FY25.

⚙️ Operational Drivers

Raw Materials

Aluminium ingots and billets are the primary raw materials. Cost of materials consumed was INR 335.13 Cr in FY25, representing approximately 77.7% of total revenue.

Import Sources

Not specifically disclosed, but the company notes that aluminium prices have strong linkages to global markets and demand-supply factors.

Key Suppliers

Not disclosed in available documents, though the company maintains long-term relationships with suppliers established over three decades.

Capacity Expansion

Current and planned capacity in MT is not disclosed; however, growth in FY25 was driven by an increase in the scale of operations and a higher proportion of value-added products.

Raw Material Costs

Raw material costs are highly volatile as CEL procures materials at prices prevailing on the date of dispatch. In FY24, a decrease in metal prices led to lower sales realization despite higher volumes.

Manufacturing Efficiency

Efficiency is driven by economies of scale, which helped maintain EBITDA margins at 6.06% in FY24 despite fluctuations in metal prices.

📈 Strategic Growth

Expected Growth Rate

15%

Growth Strategy

Growth is targeted through increasing the share of value-added products in the overall portfolio to improve sales realization and margins. The company also leverages its 30-year track record to expand its 500-customer base across the industrial, power, and engineering sectors.

Products & Services

Aluminium extruded products used in industrial, power sector, and engineering applications.

Brand Portfolio

Century Extrusions Limited (CEL).

New Products/Services

Focus on 'value-added products' which contributed to the increase in PAT margin to 2.30% in FY25.

Market Expansion

The company targets pan-India expansion, currently serving 500 customers across multiple industrial sectors.

🌍 External Factors

Industry Trends

The aluminium industry is cyclical. Current trends show a shift toward specialized, value-added extruded products to protect margins from commodity price volatility. The company is positioning itself by diversifying its sector exposure.

Competitive Landscape

The industry is characterized by cyclicality and exposure to global commodity price fluctuations, requiring high operational efficiency and diversified client bases.

Competitive Moat

The company's moat is built on a 30-year track record and established relationships with 500+ customers and suppliers. This long-standing presence provides a competitive advantage in a fragmented market.

Macro Economic Sensitivity

Highly sensitive to global aluminium price cycles and domestic demand in the power and engineering sectors.

Consumer Behavior

Demand is driven by B2B sectors like power and engineering; shifts toward infrastructure spending positively impact demand for extrusions.

Geopolitical Risks

Global market linkages for aluminium prices expose the company to international trade and geopolitical supply disruptions.

⚖️ Regulatory & Governance

Industry Regulations

The company complies with Ind AS accounting standards and SEBI (LODR) Regulations 2015. It monitors risk management through an Audit Committee as per Section 177 of the Companies Act, 2013.

Taxation Policy Impact

Current tax for FY25 was INR 3.08 Cr. The company adopted Ind AS 115, which resulted in a profit increase of INR 69 Lacs for the half-year ended September 2025.

Legal Contingencies

In FY23, the company incurred an exceptional loss of INR 1.47 Cr due to a management decision to avail an amnesty scheme for settlement of outstanding disputes.

⚠️ Risk Analysis

Key Uncertainties

Volatility in raw material prices (aluminium ingots/billets) can squeeze margins by 10-15% if price increases cannot be passed on immediately. Cyclicality in the metal industry remains a primary risk.

Geographic Concentration Risk

Low; the company has a pan-India presence with 500 customers.

Third Party Dependencies

Dependency on primary aluminium producers for ingots and billets; however, relationships are described as healthy and long-term.

Technology Obsolescence Risk

Not disclosed; however, the shift to value-added products suggests ongoing process adaptation.

Credit & Counterparty Risk

Receivables quality is not explicitly detailed, but the diversified base of 500 customers across multiple sectors mitigates individual counterparty risk.