Ganesha Ecosphere (514167) Q4 98/99 earnings summary

Executive summary

• FY ended 30 Sep 1999 posted a net loss of ₹242.20 lakh as lower sales and high finance costs outweighed marginal volume growth; no dividend recommended.

• Management expected improved performance in the current year as demand and prices firmed in domestic and global markets.

Financial highlights

• Sales and other income fell to ₹3,912.77 lakh from ₹4,694.37 lakh YoY.

• Loss before tax was ₹242.20 lakh, versus profit before tax of ₹6.71 lakh in FY1997-98; depreciation was ₹146.24 lakh and interest and finance expenses were ₹504.65 lakh.

• Loss after tax was ₹242.20 lakh; a ₹9.59 lakh prior-year income-tax adjustment reduced the loss carried forward to ₹232.61 lakh.

• Raw material consumption declined to ₹1,855.30 lakh from ₹2,347.10 lakh; employee costs were ₹221.89 lakh versus ₹225.11 lakh.

Outlook and guidance

• Management anticipated improved current-year performance, citing firmer demand and prices in domestic and global markets.

• Capital and debt restructuring measures were being developed to control rising interest and finance costs.