Deepak Nitrite (DEEPAKNTR) Q4 98/99 earnings summary

Executive summary

• FY99 sales and other income reached Rs 162.92 crore vs Rs 155.44 crore; net profit after adjustments rose to Rs 11.22 crore from Rs 5.84 crore.

• Export turnover increased 40% to Rs 37.46 crore, supported by higher-contribution product mix, improved quality and working-capital management.

Financial highlights

• Sales excluding excise duty were Rs 159.85 crore vs Rs 153.69 crore; gross profit before interest, depreciation and tax was Rs 31.55 crore vs Rs 26.54 crore.

• PBT was Rs 13.88 crore vs Rs 7.71 crore; PAT after prior-year adjustments, extraordinary items and tax was Rs 11.22 crore vs Rs 5.84 crore.

• EPS was Rs 19.51; the Board recommended a 45% dividend, including a 20% special dividend, costing Rs 2.59 crore plus Rs 25.88 lakh dividend tax.

Outlook and guidance

• Utility upgrades at Nitroaromatics and debottlenecking of Nitrite fine-chemical plants aim to improve reliability and lift production; benefits were expected from H2 FY00.

• New products were under development at Taloja and Sahyadri; pilot-plant investment was planned to expand R&D capability and accelerate process development.