Alicon Castalloy (531147) Q4 00/01 earnings summary

Executive summary

• FY ended 31 Mar 2001 turnover was Rs. 1,758.42 lakh vs Rs. 1,893.83 lakh; pre-tax profit remained higher at Rs. 115.86 lakh vs Rs. 114.32 lakh, supported by cost control and facility utilization.

• Directors recommended a 10% dividend; earnings per share were Rs. 3.23.

Financial highlights

• Sales and other income totaled Rs. 1,763.20 lakh vs Rs. 1,900.86 lakh; turnover was lower amid increased conversion income.

• Operating profit before financial expenses, depreciation and preliminary expenses was Rs. 339.35 lakh vs Rs. 303.29 lakh; financial expenses were Rs. 119.88 lakh vs Rs. 105.22 lakh.

• Profit before tax was Rs. 115.86 lakh vs Rs. 114.32 lakh; profit after tax was Rs. 96.86 lakh vs Rs. 101.12 lakh.

• Tax provision was Rs. 19 lakh vs Rs. 13.20 lakh; profit carried forward after dividend appropriation was Rs. 63.80 lakh vs Rs. 68.15 lakh.

Outlook and guidance

• Directors expected profitability to be maintained despite a volatile, changing market, citing expanded capacity, new products and customers, and added machining capacity.

• Motorcycle-market growth was viewed as an opportunity; capacity had been created to meet demand across market segments.