Fredun Pharmaceuticals (539730) Q4 99/00 earnings summary

Executive summary

• FY00 turnover was Rs 491.86 lakh; loss after depreciation was Rs 6.61 lakh and accumulated loss reached Rs 144.53 lakh.

• Export disruption in the final quarter followed the closure of a multinational partner’s healthcare division; plans shifted toward direct exports, local marketing and veterinary products.

Financial highlights

• Sales and services were Rs 491.86 lakh for 12 months, versus Rs 105.89 lakh for the prior six-month period, which is not comparable.

• Sales were Rs 460.37 lakh and other income Rs 31.50 lakh; pre-depreciation profit was Rs 3.98 lakh, while depreciation of Rs 10.59 lakh resulted in a Rs 6.61 lakh loss for the year.

• Interest and finance charges were Rs 27.78 lakh; net loss carried to the balance sheet was Rs 144.53 lakh, including prior-period accumulated losses.

• First-half FY01 sales and operating income were Rs 178.66 lakh, with profit before tax of Rs 4.45 lakh.

Outlook and guidance

• FY01 projections were Rs 578 lakh total: exports Rs 295 lakh, local sales Rs 175 lakh and jobwork Rs 108 lakh.

• Direct export registration in Africa and South East Asia, local direct marketing, new loan-licensee products and veterinary products were expected to support growth.

• Veterinary product orders of Rs 13 lakh had been implemented, with further orders expected.