Bajaj Steel Industries (BAJAJST) Q4 99/00 earnings summary

Executive summary

• FY00 net profit rose to Rs 10.51m from Rs 3.10m; pre-tax profit increased to Rs 16.31m from Rs 6.60m.

• Engineering and CNC (Steel) operations were satisfactory; Superpack’s Plastic Division was disrupted by a workers’ strike and faced higher costs and tax pressure.

Financial highlights

• Sales were Rs 675.33m vs Rs 619.86m; other income was Rs 26.69m vs Rs 25.90m, taking total income to Rs 702.02m vs Rs 645.76m.

• Profit before tax was Rs 16.31m vs Rs 6.60m; tax provision was Rs 5.80m vs Rs 3.50m; profit after tax was Rs 10.51m vs Rs 3.10m.

• Materials expense rose to Rs 345.09m from Rs 322.55m; other expenses increased to Rs 109.12m from Rs 96.82m.

• Operating cash flow was Rs 62.11m vs Rs 49.51m; cash and cash equivalents closed at Rs 12.00m vs Rs 17.91m.

Outlook and guidance

• First three months of FY01 sales were Rs 78.81m vs Rs 176.44m in the corresponding prior-year period; efforts were underway to improve performance.