Fredun Pharmaceuticals (539730) Q4 00/01 earnings summary

Executive summary

• FY ended 31 Mar 2001 sales and services turnover was Rs 452.30 lakh, down from Rs 491.86 lakh; profit for the year was Rs 8.83 lakh before prior-period adjustments.

• Export sales to Africa and South-East Asia, a strong order book, and a planned veterinary-products business supported management’s positive outlook.

Financial highlights

• Sales were Rs 427.80 lakh versus Rs 460.37 lakh; other income was Rs 24.50 lakh versus Rs 31.50 lakh.

• Profit before depreciation was Rs 22.41 lakh versus Rs 3.98 lakh; depreciation was Rs 13.58 lakh versus Rs 10.59 lakh, leaving profit for the year of Rs 8.83 lakh versus a loss of Rs 6.61 lakh.

• Manufacturing and other expenses fell to Rs 420.16 lakh from Rs 460.10 lakh; interest and finance charges declined to Rs 9.73 lakh from Rs 27.78 lakh.

• Accumulated losses were Rs 136.69 lakh at year-end, compared with Rs 144.53 lakh a year earlier.

Outlook and guidance

• FY 2001-02 projections: exports Rs 480 lakh, local sales Rs 160 lakh, jobwork Rs 60 lakh, total Rs 700 lakh.

• Q1 FY 2001-02 sales and operating income were Rs 97.35 lakh, with profit before tax of Rs 1.03 lakh.

• Management anticipated exports to Sri Lanka and Ghana and expected veterinary products to generate returns in coming years.