Anuh Pharma (506260) Q4 01/02 earnings summary

Executive summary

• FY ended 31 Mar 2002 profit after tax rose to ₹39.80m from ₹25.76m; sales and operating income increased 9% to ₹310m, per the Directors’ Report.

• Proposed dividend of ₹10 per share, equal to 100%; exports exceeded 50% of total sales.

Financial highlights

• Net sales and operating income ₹319.46m vs ₹291.67m; total income ₹335.10m vs ₹304.22m.

• Profit before tax ₹49.47m vs ₹32.86m; PAT ₹39.80m vs ₹25.76m, including a ₹0.43m deferred-tax benefit.

• Export sales ₹166.02m vs ₹156.73m; domestic sales ₹158.78m vs ₹149.36m.

• Other income ₹15.64m vs ₹12.55m included ₹3.51m profit on investment sales and ₹8.92m dividend income.

Outlook and guidance

• Tarapur antibiotic bulk-drug plant modernization and capacity expansion was underway in phases; estimated cost ₹25m, with completion expected by 30 Jun 2003.

• Directors expected satisfactory growth in turnover and profits in the current year, with product market conditions described as stable.

• Metallic Stearates production was discontinued during FY 2001-02; management expected no adverse effect on growth.