Garware Technical Fibres (509557) Q4 99/00 earnings summary

Executive summary

• FY2000 performance improved, with PBT up more than 16% YoY, supported by domestic growth, higher exports and a focus on value-added products.

• Net foreign exchange earnings more than doubled to Rs.2,913.10 lakh; the 20% interim dividend was recommended as the final dividend.

Financial highlights

• Sales were Rs.14,180.97 lakh versus Rs.12,851.69 lakh in FY1999; total income was Rs.14,501.40 lakh.

• PBT rose to Rs.877.78 lakh from Rs.755.91 lakh; PAT was Rs.787.78 lakh versus Rs.675.91 lakh.

• Domestic sales increased to Rs.9,279.14 lakh from Rs.8,454.16 lakh; exports rose to Rs.4,801.62 lakh from Rs.4,184.91 lakh.

• EPS was Rs.4.02; dividend was 20%, or Rs.2 per share.

Outlook and guidance

• Geosynthetics identified as a growth and value-addition opportunity, with applications in infrastructure, construction and environmental projects.

• R&D priorities included agricultural shade nets; Garware Elastomerics’ financial performance was expected to improve in FY2000.