Control Print (522295) Q4 02/03 earnings summary

Executive summary

• FY03 revenue reached Rs 2,611.52 lacs and net profit Rs 151.90 lacs, versus Rs 2,404.70 lacs and Rs 117.88 lacs in FY02; growth reflected demand and customer expansion in coding and marking.

• Established leadership and a broad technology offering supported expansion into new applications and medium-sized customers while retaining major multinational accounts.

Financial highlights

• Sales and service income rose to Rs 2,609.62 lacs from Rs 2,398.40 lacs; total income was Rs 2,611.52 lacs versus Rs 2,404.70 lacs.

• Profit before tax increased to Rs 253.23 lacs from Rs 184.61 lacs; profit after tax was Rs 151.90 lacs versus Rs 117.88 lacs.

• Profit for FY03 includes a Rs 9.82 lacs bonus provision following a change from cash-basis to mercantile-basis accounting; excluding this provision, reported profit would have been higher by that amount.

Outlook and guidance

• Long-term outlook was positive, with steady growth expected as packaging investment, global competition and new packaging regulations support demand for coding and marking products.

• New printer models were well received; FY04 was expected to be their first full year of sales, with their market potential to become clearer.