Adani Enterprises (ADANIENT) Q4 96/97 earnings summary

Executive summary

• Turnover reached ₹160,681.53 lakh in FY1996-97, up 41.60% YoY; net profit rose to ₹5,366.88 lakh from ₹4,027.38 lakh.

• Retained Super Star Trading House status through 31 Mar 2000 and was ranked India’s largest trading house and 12th-largest service-sector company by turnover.

Financial highlights

• Sales and other income were ₹160,681.53 lakh versus ₹113,464.66 lakh; gross profit before depreciation, interest and tax was ₹7,118.18 lakh versus ₹5,053.14 lakh.

• Profit before tax was ₹5,391.95 lakh versus ₹4,029.56 lakh; profit after tax was ₹5,366.88 lakh versus ₹4,027.38 lakh.

• Export earnings on FOB goods were ₹108,934.57 lakh versus ₹77,569.38 lakh; turnover exceeded the ₹1,500 crore target.

• Recommended dividend was ₹3 per ₹10 equity share, stated as a 30% dividend rate; EPS was ₹80.57.

Outlook and guidance

• Management aimed to exceed the five-year average annual growth rates of 133.10% for turnover and 117.91% for profit.

• Mundra multipurpose jetty was expected to become operational in Q1 1998; port operations were planned to start in phases from the quarter ending March 1998.

• A 54 MW naphtha-based power project at Anjar received a Gujarat Government letter of intent; EPC and O&M contract finalisation had begun.