Johnson Pharmacare (532154) Q4 13/14 earnings summary

Executive summary

• FY2013-14 revenue from operations was ₹17,910,197,106; net loss narrowed to ₹830,871 from ₹1,290,387 YoY, amid sluggish market conditions and financial strain.

• Management cited ongoing improvement measures and expected turnover to improve despite possible recessionary industry conditions.

Financial highlights

• Total income was ₹17,910,197,106 versus ₹1,590,759,403 in FY2012-13; total expenses were ₹17,911,042,490 versus ₹1,592,360,982.

• Loss before tax was ₹845,384, compared with ₹1,312,756 in FY2012-13; net loss was ₹830,871 versus ₹1,290,387.

• The prior-year ₹200,000 SEBI penalty was an exceptional item; FY2013-14 exceptional items were nil.

• Operating cash flow was ₹38,870,760; investing cash outflow was ₹44,465,777, and year-end cash equivalents were ₹2,637,967.

Outlook and guidance

• Management expected improved turnover, citing strong fundamentals of Indian companies, while acknowledging possible recessionary conditions in the industry.

• Forward-looking statements were cautioned to involve actual results that may differ materially from expectations.