Anuh Pharma (506260) Q4 07/08 earnings summary

Executive summary

• FY08 sales and operating income rose 35% to Rs 11,087.14 lakh; profit before tax increased 8.76% to Rs 1,142.20 lakh and profit after tax grew 13.29% to Rs 778.43 lakh.

• Turnover exceeded Rs 10,000 lakh and exports crossed Rs 5,000 lakh for the first time; the board recommended a dividend of Rs 8 per share, or 160%.

Financial highlights

• Net sales and operating income were Rs 1,108.71 million versus Rs 817.73 million; other income was Rs 32.25 million versus Rs 21.24 million.

• Profit before tax was Rs 114.22 million versus Rs 105.01 million; profit after tax was Rs 77.84 million versus Rs 68.89 million.

• Manufacturing exports rose about 19% to Rs 5,022.84 lakh, from Rs 4,207.56 lakh.

• Operating cash flow was Rs 105.04 million; cash and cash equivalents declined Rs 17.34 million to Rs 35.88 million at year-end.

Outlook and guidance

• Management expected to sustain growth in FY09 and said record sales and net profit may be achieved.

• A plant expansion adding 150 MT of annual capacity was underway and expected to come on stream shortly; existing capacity utilization was described as very satisfactory.

• Strategic expansion, untapped markets, value-chain opportunities and global business alliances were identified as growth priorities.