IFCI (IFCI) Q4 94/95 earnings summary

Executive summary

• FY1994-95 was the first full year of operations following conversion to a public limited company; prior-year comparisons cover only nine months, July 1993–March 1994.

• Profit after tax reached Rs.274.02 crore; sanctions were Rs.5,719.45 crore and disbursements Rs.2,838.73 crore.

• The board recommended a 22% dividend on equity shares for FY1994-95.

Financial highlights

• Total income was Rs.1,474.38 crore versus Rs.1,003.00 crore for the prior nine-month period; FY1994-95 profit before tax was Rs.333.77 crore and PAT Rs.274.02 crore.

• Actual FY1994-95 total income of Rs.1,474.38 crore and PAT of Rs.274.02 crore exceeded public-issue projections of Rs.1,396.04 crore and Rs.182.13 crore, respectively.

• Appropriations included Rs.98.17 crore to special reserve, Rs.95.29 crore to general reserve and proposed dividend of Rs.77.35 crore.

Outlook and guidance

• The enlarged venture-capital fund was expected to be fully committed by FY1997-98, backing innovative ventures in biotechnology, IT, telecommunications and special materials.

• Stronger industrial activity and economic reforms were described as supporting further consolidation, amid increased competition and evolving financial-sector opportunities.