Clean Science and Technology (CLEAN) Q4 20/21 earnings summary

Executive summary

• FY21 revenue reached Rs 5,380.50 million standalone and Rs 5,380.71 million consolidated; consolidated profit after tax was Rs 1,983.80 million, despite brief COVID-19 shutdowns.

• Revenue grew from Rs 4,301.65 million in FY20; management described current-year prospects as favorable, barring unforeseen circumstances.

Financial highlights

• Consolidated revenue from operations was Rs 5,124.28 million vs Rs 4,193.00 million; total income was Rs 5,380.71 million vs Rs 4,301.65 million.

• Consolidated expenses were Rs 2,707.70 million vs Rs 2,478.49 million; PBT was Rs 2,673.01 million vs Rs 1,823.16 million.

• Consolidated PAT was Rs 1,983.80 million vs Rs 1,396.31 million; total comprehensive income was Rs 2,010.13 million vs Rs 1,345.04 million.

• Other income included Rs 113.53 million net foreign-exchange gains and Rs 49.25 million fair-value gains on FVTPL instruments.

Outlook and guidance

• Management said current-year prospects looked favorable, subject to unforeseen circumstances, and targeted closer customer engagement, operational and technical excellence, cost discipline, and greater R&D-led innovation.

• Management assessed liquidity and projected operating cash flows for at least 12 months and concluded the going-concern basis remained appropriate.