HBL Engineering (517271) Q4 00/01 earnings summary

Executive summary

• FY 2000-01 sales and other income reached ₹17,869.14 lakh; sales rose 20% YoY and operating profit increased to ₹2,816 lakh from ₹2,331 lakh.

• Net profit was ₹1,410.84 lakh, compared with ₹1,327.38 lakh in FY 1999-2000; low initial sales from newly commercialised products limited potential results.

Financial highlights

• Sales were ₹17,655.32 lakh, up from ₹14,560.42 lakh; other income was ₹213.82 lakh versus ₹235.18 lakh.

• Profit before tax was ₹1,589.54 lakh versus ₹1,398.95 lakh; profit after tax was ₹1,410.84 lakh versus ₹1,327.38 lakh.

• Finance cost increased to ₹900.99 lakh from ₹697.95 lakh; depreciation rose to ₹310.72 lakh from ₹218.73 lakh.

Outlook and guidance

• Improved turnover was expected from newly commercialised products and planned launches in FY 2001-02 and FY 2002-03.

• Nickel-cadmium export operations were expected to begin before FY 2001-02 end; a lead-acid export unit was planned for the following FY, with expected turnover, profit and tax benefits.

• Embedded-systems commercialisation was planned at a new Nandigaon undertaking during FY 2001-02.

• Tax exemption on profits from the Kothur VRLA battery and SMR undertakings was set to fall to 30% from FY 2001-02.