Johnson Pharmacare (532154) Q4 18/19 earnings summary

Executive summary

• FY2018-19 income was ₹9.20m against expenses of ₹9.31m, resulting in a net loss of ₹109,350; operations remained largely inactive.

• Scarce working capital constrained business activity; management was seeking an opportunity to restart operations and had undertaken cost-reduction measures.

Financial highlights

• FY2018-19 income of ₹9.20m included a ₹9.00m stock purchase; expenses totaled ₹9.31m, versus ₹624,712 in FY2017-18.

• Net loss narrowed to ₹109,350 from ₹624,712 YoY; FY2018-19 total comprehensive loss was also ₹109,350.

• Total assets were ₹599.30m at March 31, 2019; investments were ₹531.34m, compared with ₹540.34m a year earlier.

• Trade receivables stood at ₹9.20m, cash and cash equivalents at ₹3.04m, and loans and advances at ₹39.47m at year-end.

Outlook and guidance

• Future development depends on resuming operations; management was looking for an opportunity to make the business operational.

• Cost-reduction measures had been undertaken, with further efforts described as feasible amid scarce working capital.