Fredun Pharmaceuticals (539730) Q4 08/09 earnings summary

Executive summary

• FY09 revenue (sales and other income) was Rs. 416.05 lakh, down from Rs. 481.26 lakh; profit before tax rose to Rs. 10.96 lakh from Rs. 7.08 lakh, while net profit fell to Rs. 6.20 lakh from Rs. 8.53 lakh.

• Lower turnover was attributed to the year’s sales performance; the outlook was described as promising, supported by export orders on hand.

Financial highlights

• Sales were Rs. 400.10 lakh versus Rs. 467.66 lakh YoY; other income was Rs. 15.95 lakh versus Rs. 13.60 lakh.

• Total expenditure was Rs. 349.20 lakh versus Rs. 426.64 lakh; interest and finance charges rose to Rs. 33.00 lakh from Rs. 24.49 lakh.

• Profit before depreciation was Rs. 33.85 lakh versus Rs. 30.13 lakh; depreciation was Rs. 22.29 lakh versus Rs. 20.18 lakh.

• PBT before prior-period adjustments was Rs. 11.56 lakh versus Rs. 9.95 lakh; prior-period adjustments were a Rs. 0.60 lakh charge versus Rs. 2.87 lakh, resulting in reported PBT of Rs. 10.96 lakh versus Rs. 7.08 lakh.

• Net profit was Rs. 6.20 lakh versus Rs. 8.53 lakh; no equity dividend was recommended, and Rs. 4.00 lakh preference dividend was provided for but not declared.

Outlook and guidance

• FY10 outlook was described as promising, with good export orders on hand despite lower FY09 turnover.