Diamond Power Infrastructure (522163) Q4 02/03 earnings summary

Executive summary

• FY02/03 maintained turnover at ₹8,348.71 lakh amid industry turmoil, but borrowing costs and delayed utility payments contributed to a ₹450.25 lakh net loss.

• Order activity was strong, including a ₹88 crore TNEB conductor contract; delivery delays from financial constraints affected customer commitments and future-order prospects.

Financial highlights

• Gross sales were ₹8,348.71 lakh and net sales ₹7,611.10 lakh; total income was ₹8,386.58 lakh for the 12 months ended March 31, 2003.

• Profit before interest and depreciation was ₹1,008.13 lakh; finance charges of ₹1,201.35 lakh and depreciation of ₹261.09 lakh led to a ₹454.31 lakh loss before tax.

• Net loss was ₹450.25 lakh versus ₹334.41 lakh in the prior nine-month period; periods are not comparable. EPS was -₹3.33 versus -₹2.47.

• Operating cash flow was negative ₹561.63 lakh; financing activities generated ₹687.64 lakh, and cash and cash equivalents closed at ₹343.74 lakh.

Outlook and guidance

• Pending bids exceeded ₹3,100 crore; management cited a comfortable order book for the next financial year, supported by utility and deemed-export demand.

• A ₹16,000 km additional TNEB order was expected, alongside further business from GEB, ADB-funded projects, BSES, L&T and other customers.

• Spare capacity was targeted for improved utilization; selling alloy and EC wire rods and undertaking conversion work were expected to broaden revenue and support liquidity.