Alkyl Amines Chemicals (506767) Q4 99/00 earnings summary

Executive summary

• FY00 total income Rs 8,298 lacs vs Rs 8,612 lacs; PAT Rs 775 lacs vs Rs 1,285 lacs, reflecting weaker amines margins and lower export sales.

• Operating profit before interest, depreciation and tax was Rs 1,708 lacs vs Rs 2,448 lacs; the 20% interim equity dividend was treated as final.

• Commissioned a 10,000 MTPA ethylamines plant and a hydrogen plant at Kurkumbh, while advancing a 50:50 specialty chemicals JV and the proposed DACL acquisition.

Financial highlights

• Total income Rs 8,298 lacs vs Rs 8,612 lacs; PBT Rs 873 lacs vs Rs 1,640 lacs; PAT Rs 775 lacs vs Rs 1,285 lacs.

• Interest and financial expenses Rs 567 lacs vs Rs 554 lacs; depreciation Rs 268 lacs vs Rs 254 lacs; tax provision Rs 98 lacs vs Rs 355 lacs.

• Operating profit before interest, depreciation and tax Rs 1,708 lacs vs Rs 2,448 lacs; gross revenue Rs 8,298 lacs vs Rs 8,612 lacs.

• EPS Rs 11 and equity dividend 20%; profit carried to the balance sheet Rs 530 lacs.

Outlook and guidance

• Kurkumbh capacity expansion was expected to enable dedicated production runs, higher output and lower unit costs; total amines capacity was expected in the 25,000–30,000 MT p.a. range.

• Higher contribution from Kurkumbh amine derivatives was expected in coming years as production and sales expanded.

• The hydrogen plant was expected to reduce purchased-hydrogen dependence, support hydrogenation products and generate income from surplus output.