Aegis Logistics (AEGISLOG) Q4 96/97 earnings summary

Executive summary

• Gross turnover rose 18% YoY to Rs 114.09 crore, while net profit after extraordinary items declined to Rs 5.00 crore from Rs 5.32 crore.

• Lower export realizations for fatty alcohols and reduced pentaerythritol prices following an import-duty cut weighed on profit.

Financial highlights

• Gross profit before interest and depreciation was Rs 19.32 crore versus Rs 23.54 crore; profit before tax was Rs 8.37 crore versus Rs 13.03 crore.

• Operating revenue increased to Rs 109.07 crore from Rs 93.09 crore; other income rose to Rs 4.78 crore from Rs 3.17 crore.

• Net profit before extraordinary items was Rs 5.00 crore versus Rs 11.73 crore; the prior-year comparison includes a different extraordinary adjustment.

• Proposed dividend was Rs 1.25 per share, down from Rs 3.00 per share.

Outlook and guidance

• A proposed Pentaerythritol joint venture with Perstorp AB was expected to lift capacity to 15,000 MT annually using latest technology.

• Petrochemicals operated at full capacity; oleochemicals outlook anticipated no major performance change amid stiff competition.

• Management expected chemical storage profitability to be maintained despite competition from new JNPT terminals.