Hawkins Cooker (508486) Q4 00/01 earnings summary

Executive summary

• FY01 total income rose 4% to Rs. 1,294.3 million, while higher excise duty sharply reduced profitability.

• Net profit after tax fell 48% to Rs. 18.7 million; proposed dividend was Rs. 3 per share, down from Rs. 4.

Financial highlights

• Sales were Rs. 1,290.5 million versus Rs. 1,239.2 million in FY00; income from other sources was Rs. 3.9 million.

• PBT was Rs. 24.96 million, down 52% YoY; PAT was Rs. 18.68 million, down 48% YoY.

• Total expenditure was Rs. 1,269.4 million versus Rs. 1,193.8 million; reported figures include excise duty in sales and expenses.

• Excise duty expense rose to Rs. 159.6 million from Rs. 89.1 million; net of MODVAT, the increase over FY00 was Rs. 57 million.

Segment performance

• Pressure cooker turnover was Rs. 1,090.2 million; cookware turnover was Rs. 103.1 million, up from Rs. 93.2 million in FY00.

• FOB exports reached Rs. 66.8 million, up 11% YoY; foreign exchange used was Rs. 16.2 million versus Rs. 22.9 million.

• Production included 1,670,517 pressure cookers and 47,119 idli stands; pressure cooker production was 1,640,809 in FY00.