Borosil Renewables (BORORENEW) Q4 00/01 earnings summary

Executive summary

• FY2000-01 sales rose to Rs. 7,819.92 lacs from Rs. 5,917.82 lacs, but net profit remained low at Rs. 10.10 lacs; no dividend was recommended.

• Furnace age, partial-year operation of a new furnace and fixed costs at Maraimalai Nagar constrained profitability.

Financial highlights

• Sales were Rs. 7,819.92 lacs vs. Rs. 5,917.82 lacs; other income was Rs. 200.15 lacs vs. Rs. 218.73 lacs.

• PBT was Rs. 11.59 lacs vs. Rs. 9.46 lacs; PAT was Rs. 10.10 lacs vs. Rs. 7.77 lacs.

• Trading purchases increased to Rs. 2,598.72 lacs from Rs. 963.59 lacs; exports were Rs. 142 lacs vs. Rs. 144 lacs.

• Operating cash flow was Rs. 91.49 lacs vs. Rs. 375.13 lacs; cash and cash equivalents ended at Rs. 192.96 lacs.

Outlook and guidance

• Furnace No. 1 at Marol was expected to be rebuilt before year-end; the Maraimalai Nagar furnace configuration remained undecided amid import activity.

• Increased consumerware trading and new foreign-manufacturer supply arrangements were expected to strengthen trading activity.

• Borrowing authority was proposed to increase from Rs. 60 crore to Rs. 100 crore to support trading and furnace rebuilds.