Advanced Drainage Systems Inc. $(ADS.AU)$ reported its financial results for the fiscal year ending March 31, 2025. The company recorded net sales of $2.904 billion, a slight increase from the $2.874 billion reported in the previous fiscal year. However, the gross profit margin decreased to 37.7% from 39.9% in the prior year, with gross profit declining from $1.146 billion to $1.094 billion. The cost of goods sold rose from $1.729 billion to $1.810 billion, impacting the gross profit margin. Selling, general, and administrative expenses increased marginally to $380.4 million from $370.7 million, representing 13.1% of net sales, up from 12.9%. The company reported an Adjusted EBITDA of $889.2 million, reflecting a decrease from the previous year's $903.9 million, with the Adjusted EBITDA Margin decreasing from 32.1% to 30.6%. The equity in net income of unconsolidated affiliates decreased due to reduced income from the South American Joint Venture. Additionally, net income attributable to noncontrolling interest decreased because of reduced net income at the ADS Mexicana joint venture.