Flair Writing Industries (FLAIR) Q4 20/21 earnings summary

Executive summary

• FY21 revenue fell sharply amid COVID-19 disruption: standalone revenue from operations was Rs 28,917.84 lakh vs Rs 58,117.72 lakh; consolidated revenue was Rs 29,798.94 lakh vs Rs 72,515.41 lakh.

• Standalone PAT was Rs 49.71 lakh vs Rs 3,812.15 lakh; consolidated PAT was Rs 96.96 lakh vs Rs 3,793.55 lakh.

• Auditors issued unqualified opinions on standalone and consolidated financial statements; internal financial controls were assessed as adequate and effective.

Financial highlights

• Standalone total income was Rs 30,106.29 lakh vs Rs 58,650.47 lakh; consolidated total income was Rs 31,087.41 lakh vs Rs 73,049.20 lakh.

• Earnings before finance cost, tax and depreciation were Rs 3,422.36 lakh standalone and Rs 3,586.09 lakh consolidated, vs Rs 9,879.90 lakh and Rs 9,934.58 lakh, respectively.

• Standalone total comprehensive income was Rs 69.09 lakh vs Rs 3,757.69 lakh; consolidated total comprehensive income was Rs 116.34 lakh vs Rs 3,739.09 lakh.

• Standalone and consolidated basic and diluted EPS were Rs 0.21 and Rs 0.42, respectively, vs Rs 16.33 and Rs 16.25 in FY20.

Outlook and guidance

• Operations are intended to resume in a calibrated manner, with workplace precautions maintained in line with state and central government directives.

• Resources were retained rather than distributed: no equity dividend was recommended, and FY21 profit was carried forward without transfer to general reserves.