Johnson Pharmacare (532154) Q4 19/20 earnings summary

Executive summary

• No business activity or operating revenue in FY20; fixed costs drove a net loss of Rs 918,050, versus Rs 109,350 in FY19.

• Working-capital scarcity constrained operations; management was pursuing cost reductions and seeking an opportunity to restart activity.

Financial highlights

• Revenue from operations and other income were both Rs 0 in FY20; other income was Rs 9.2m in FY19.

• Total expenses were Rs 9,309,350, including Rs 240,000 in employee benefits and Rs 678,050 in other expenses; BSE listing fees were Rs 657,850.

• Net loss and total comprehensive loss were each Rs 918,050; FY19 loss was Rs 109,350.

• Total assets were Rs 587.70m at March 31, 2020, versus Rs 599.30m a year earlier; equity was Rs 581.43m.

Outlook and guidance

• Future development depends on resuming operations; management was looking for an opportunity to make operations active and had undertaken cost-cutting measures.

• Working-capital scarcity was identified as the constraint on business activity; no quantified operating or financial guidance was stated.