Control Print (522295) Q4 03/04 earnings summary

Executive summary

• Gross revenue rose to ₹2,973.82 lakh in FY2003-04 from ₹2,611.52 lakh; PAT increased to ₹240.40 lakh from ₹151.90 lakh.

• Growth reflected higher sales volume, focus on specialty products and lower financial expenses.

Financial highlights

• Sales and service income was ₹2,964.95 lakh versus ₹2,609.62 lakh; PBT reached ₹403.82 lakh versus ₹253.23 lakh.

• Profit before depreciation and tax was ₹462.59 lakh versus ₹308.75 lakh; depreciation was ₹58.77 lakh versus ₹55.52 lakh.

• Current tax was ₹131.90 lakh and deferred tax charge ₹31.52 lakh; reported PAT was ₹240.40 lakh versus ₹151.90 lakh.

• EPS was ₹3.47 versus ₹2.19; proposed final dividend of ₹0.60/share plus interim ₹1.20/share would make FY dividend ₹1.80/share.

Outlook and guidance

• Outlook was positive, with steady long-term growth expected; printer pricing remained under pressure from competition for installed base.

• CONPRINT HRC was expected to grow strongly over 2–3 years as the product range expands, production costs fall and marketing efforts begin.

• Hot Melt Ink Roll manufacturing under license was expected to begin in Q3 FY2004-05, supporting higher-margin consumables and reduced import dependence.

• FY2004-05 was to be the first full year of sales for newly launched ink-jet printer models, whose market potential was still to become clear.