Alok Industries (ALOKINDS) Q4 00/01 earnings summary

Executive summary

• FY01 sales rose 34.36% to Rs 444.64 crore; profit after tax (PAT) increased 37.9% to Rs 29.47 crore.

• Exports doubled to Rs 18.74 crore, while weaving and processing expansion projects advanced under the Technology Upgradation Fund Scheme.

• Management targeted completion of expansion and modernisation in FY02 and identified FY03 as a potential “breakout” year.

Financial highlights

• Revenue was Rs 444.64 crore versus Rs 330.92 crore in FY00; gross profit was Rs 76.21 crore, up 25.27% YoY.

• PAT reached Rs 29.47 crore versus Rs 21.38 crore; cash profit rose to Rs 41.34 crore from Rs 30.92 crore.

• EPS was Rs 10.39 versus Rs 8.91; cash EPS was Rs 14.58 versus Rs 12.90.

• Capital expenditure was Rs 79.97 crore; gross fixed assets increased to Rs 227.89 crore from Rs 144.94 crore.

• Net worth rose to Rs 131.49 crore from Rs 102.86 crore, while total assets grew to Rs 521.52 crore from Rs 390.48 crore.

Outlook and guidance

• Weaving and processing modernisation was expected to be completed in FY02, supporting production and export growth; FY03 was positioned as a potential breakout year.

• Expanded capacity, a broader product range, manufacturing efficiencies and improved service were expected to support future returns and profits.

• Priorities included margin improvement through purchase and manufacturing cost control, alongside greater focus on export markets.

• New capacity was intended to widen fabric offerings and target the domestic and export home-furnishing markets.