Fredun Pharmaceuticals (539730) Q4 02/03 earnings summary

Executive summary

• FY ended 31 Mar 2003: sales and other income were ₹599.15 lakh vs ₹656.98 lakh; net profit was ₹2.72 lakh after a ₹27.01 lakh prior-period adjustment and ₹5.00 lakh deferred-tax provision.

• Accumulated losses narrowed to ₹132.12 lakh from ₹134.84 lakh; no dividend was recommended.

Financial highlights

• Sales and other income: ₹599.15 lakh vs ₹656.98 lakh; finished-goods sales were ₹527.25 lakh and conversion charges ₹29.55 lakh.

• Other income rose to ₹42.35 lakh from ₹32.19 lakh, including DEPB licence sale income of ₹22.18 lakh and DFRC income of ₹13.07 lakh.

• Net profit was ₹2.72 lakh vs ₹1.85 lakh; prior-period adjustment was ₹27.01 lakh, depreciation ₹15.90 lakh and deferred-tax provision ₹5.00 lakh.

• Manufacturing and other expenses were ₹576.11 lakh vs ₹615.64 lakh; interest and finance charges increased to ₹26.42 lakh from ₹16.59 lakh.

Outlook and guidance

• Directors expected good near-term results based on the order book; products had been exported to Africa and Southeast Asia, with registration in Ghana and orders anticipated.