Fredun Pharmaceuticals (539730) Q4 01/02 earnings summary

Executive summary

• FY ended 31 Mar 2002 sales and conversion-charge turnover was ₹624.80 lakh, up 46.05% YoY; reported net profit after tax was ₹1.85 lakh.

• Directors expressed optimism for near-term results, with plans to enter new markets, expand existing ones, introduce new products and launch own products in the local market.

Financial highlights

• Sales and conversion charges rose to ₹624.80 lakh from ₹427.80 lakh; total income, including other income, was ₹656.98 lakh versus ₹452.30 lakh.

• Profit before depreciation was ₹24.75 lakh versus ₹22.41 lakh; depreciation was ₹15.06 lakh versus ₹13.58 lakh, leaving profit before prior-period adjustments and tax of ₹9.69 lakh.

• Reported profit after tax was ₹1.85 lakh, including ₹27.60 lakh of prior-period adjustments and a ₹35.44 lakh deferred-tax provision; prior-year PAT was ₹7.84 lakh.

• Other income increased to ₹32.19 lakh from ₹24.50 lakh, including ₹22.84 lakh from DEPB licence sale and ₹6.96 lakh from DFRC.

Outlook and guidance

• Market expansion plans include introducing latest products and launching own products in the expanding local market; necessary steps had been initiated.

• Directors anticipated good near-term results, without providing quantified guidance.