March 14, 2025

Blue Power Group Limited (BPOW)

Unaudited financials for the nine months ended January 31, 2025:

Blue Power Group Limited (BPOW) reported a 10% increase in revenue totaling $687.49 million for the nine months ended January 31, 2025, compared to $624.10 million in the corresponding period last year. Revenue for the third quarter decreased by 1% to $218.93 million compared to $222.04 million for the comparable quarter of 2024.

Cost of Sales amounted to $451.28 million (2024: $382.08 million), representing an 18% year-over-year increase. Consequently, gross profit decreased by 2% to $236.21 million compared to $242.02 million for the nine months ended January 31, 2024. The company booked gross profit of $63.48 million for the third quarter versus $98.12 million reported for the similar quarter of 2024.

Impairment gains on investment decreased by 88% to $19,324 (2024: $165,121), while Administrative and Other Expenses increased by 13% from $145.95 million in 2024 to $164.24 million in the period under review. As a result, profit from operations for the nine months ended January 31, 2025, amounted to $80.52 million, a 27% decrease relative to $109.78 million reported in 2024.

Other income for the nine months ended January 31, 2025, amounted to $8.87 million, a 34% decrease relative to $13.51 million reported in 2024. Other income for the third quarter amounted to $3.29 million (2024: $4.10 million). Finance income totaled $26.45 million, a 60% increase from the corresponding period last year (2024: $16.52 million).

Finance costs for the nine months ended January 31, 2025, amounted to $2.23 million whilst, finance costs for the third quarter amounted to $1.11 million.

Profit before Taxation for the nine months ended January 31, 2025, decreased by 20% to $124.29 million (2024: $154.58 million). Taxation for the nine months amounted to $22.98 million, a 33% decrease from the $34.28 million reported in 2024. For the third quarter, Taxation was $4.47 million (2024: $14.80 million).

Net Profit decreased by 16% to $101.30 million (2024: $120.30 million). Net Profit for the quarter totaled $14.16 million relative to the $49.77 million booked in the prior year’s quarter.

Consequently, Earnings Per Share for the nine months amounted to $0.18 (2024: EPS: $0.21), while Earnings Per Share for the quarter totaled $0.03 (2024: EPS: $0.09). The twelve-month trailing EPS was $0.27, and the number of shares used in these calculations was 564,990,000.

Notably, BPOW’s stock price closed the trading period on March 13, 2025, at $5.15 with a corresponding P/E ratio of 18.86x.

Balance Sheet Highlights
The company’s assets totaled $1.82 billion (2024: $1.68 billion). This increase in total assets was attributable to investments amounting to $334.06 million (2024: $243.42 million). Additionally, cash and cash equivalents contributed to the increase, equating to $257.01 million (2024: $179.53 million).

Shareholder’s equity was $1.69 billion (2024: $1.60 billion), representing a book value per share of $3.00 (2024: $2.83).

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