Bajaj Steel Industries (BAJAJST) Q4 04/05 earnings summary

Executive summary

• FY2004-05 turnover reached Rs 147.68 crore, up 51.44% YoY; PBT rose 9.25%, while PAT fell to Rs 24.68 million from Rs 30.11 million.

• Directors recommended a Rs 2.00/share dividend; stated total dividend and tax outflow was Rs 5.017 million.

Financial highlights

• Sales were Rs 1,425.07 million vs Rs 898.89 million; total income was Rs 1,480.51 million vs Rs 981.17 million.

• PBT was Rs 34.76 million vs Rs 31.82 million; PAT was Rs 24.68 million vs Rs 30.11 million.

• Adjusted for the Rs 1.70 million write-back of an investment diminution provision, PBT before extraordinary items was Rs 33.06 million vs Rs 31.82 million.

• Cost of materials rose to Rs 889.78 million from Rs 543.45 million; personnel costs were Rs 68.24 million vs Rs 54.78 million.

Outlook and guidance

• Directors were exploring opportunities in both divisions and expressed hope that performance would improve.