Apcotex Industries (APCOTEXIND) Q4 99/00 earnings summary

Executive summary

• FY2000 gross sales rose to Rs 4,976.17 lakh from Rs 2,986.96 lakh; profit after tax was Rs 30.41 lakh versus a Rs 35.92 lakh loss.

• Sales growth was offset by severe margin pressure from stiff competition from imported products; raw and packing material costs also increased marginally.

Financial highlights

• Net sales were Rs 4,137.85 lakh versus Rs 2,470.65 lakh; gross profit was Rs 377.48 lakh versus Rs 309.19 lakh.

• Profit before tax was Rs 30.71 lakh versus a Rs 35.70 lakh loss; PAT was Rs 30.41 lakh versus a Rs 35.92 lakh loss.

• Interest expense rose to Rs 125.36 lakh from Rs 116.77 lakh; depreciation was Rs 346.77 lakh versus Rs 344.89 lakh.

• Other income increased to Rs 245.05 lakh from Rs 193.32 lakh, including Rs 86.08 lakh surplus on investment sales.

Outlook and guidance

• Directors viewed prospects for FY2001 with optimism, barring unforeseen events.

• An interim dividend of Rs 1.25 per equity share, totaling Rs 69.09 lakh, was declared; no additional dividend was recommended.

• Proposed FY2001 funding would support part of capital expenditure and rising working-capital needs, with borrowing and secured instruments authorized up to Rs 50 crore.