HBL Engineering (517271) Q4 96/97 earnings summary

Executive summary

• FY 1996-97 turnover rose to Rs.1,957.61 lacs from Rs.1,550.11 lacs; net profit increased to Rs.60.95 lacs from Rs.10.10 lacs, despite earlier-period tax adjustments.

• Domestic and export orders were secured amid stiff competition; a single order was valued at ~Rs.14 crore.

Financial highlights

• Turnover Rs.1,957.61 lacs vs Rs.1,550.11 lacs; operating profit Rs.294.07 lacs vs Rs.168.27 lacs.

• Profit before tax Rs.123.13 lacs vs Rs.10.10 lacs; profit after tax Rs.60.95 lacs vs Rs.10.10 lacs.

• Sales and service income Rs.1,957.61 lacs; other income Rs.24.59 lacs vs Rs.40.40 lacs.

• Adjusted for Rs.12.19 lacs of prior-year tax adjustments, reported net profit was Rs.60.95 lacs; EPS was Rs.1.91.

Outlook and guidance

• Higher export turnover targeted for FY 1997-98, supported by orders from several countries.

• Two products under development were expected to generate additional business from FY 1998-99.

• Product development for modern railway signalling and telecom products was being pursued as a new business area.