Biogen Pharmachem Industries (531752) Q4 06/07 earnings summary

Executive summary

• FY07 total income was Rs 2,768,802,650, down from Rs 5,249,526,606; net profit was Rs 5,508,534, versus Rs 5,987,692 after deferred tax in FY06.

• Trading operations remained the primary business; wind-power income increased to Rs 6,783,570 from Rs 578,610.

Financial highlights

• Sales were Rs 2,764,067,319, versus Rs 5,246,893,998 in FY06; total income was Rs 2,768,802,650, versus Rs 5,249,526,606.

• Total expenses were Rs 2,763,294,115; profit before tax was Rs 5,508,534, compared with Rs 23,637,787 in FY06.

• Depreciation was Rs 2,832,267; current tax and FBT provisions were nil, and deferred tax was nil for FY07.

• No dividend was recommended; paid-up share capital remained Rs 102,603,000 with no shares issued during the year.

Outlook and guidance

• Planned broader trading in agro commodities, precious metals and other goods across spot and futures markets, with import/export opportunities in gold, silver and diamonds.

• Diversification plans included a wind-turbine power-generation project; management anticipated improved turnover and profitability from expanded trading and power activities.