Apcotex Industries (APCOTEXIND) Q4 96/97 earnings summary

Executive summary

• Gross sales reached Rs. 4,407.43 lakh, up 20% YoY; net sales after discounts and excise duty were Rs. 3,570.57 lakh, with net profit of Rs. 493.55 lakh.

• Directors characterized performance as satisfactory, citing steady raw and packing material costs and satisfactory availability during the year.

Financial highlights

• Gross profit before depreciation was Rs. 834.61 lakh vs. Rs. 764.48 lakh; depreciation was Rs. 161.06 lakh and profit before tax was Rs. 673.55 lakh vs. Rs. 630.61 lakh.

• Net profit was Rs. 493.55 lakh vs. Rs. 455.61 lakh; other income was Rs. 173.17 lakh vs. Rs. 147.89 lakh.

• Net sales were Rs. 3,570.57 lakh vs. Rs. 2,971.08 lakh; materials consumed rose to Rs. 2,075.11 lakh from Rs. 1,744.79 lakh.

Outlook and guidance

• Synthetic rubber manufacturing capacity expansion and new storage facilities were under implementation and expected to be completed as scheduled.

• Prospects for the current year were viewed with optimism, barring unforeseen events.

• Newly developed latex products for textile and paper applications were undergoing trials; further work targeted new end uses and applications.