Lincoln Pharmaceuticals (531633) Q4 02/03 earnings summary

Executive summary

• FY03 sales rose to Rs 3,356.16 lacs from Rs 2,743.47 lacs; net profit increased to Rs 144.24 lacs from Rs 77.69 lacs.

• Sales turnover growth was 22%, above the reported pharmaceutical industry growth rate of 6%; market share expanded through new products and marketing initiatives.

Financial highlights

• Profit before depreciation and tax was Rs 218.73 lacs vs Rs 151.21 lacs; depreciation was Rs 41.88 lacs vs Rs 40.82 lacs.

• Profit after tax was Rs 144.24 lacs vs Rs 77.69 lacs; current tax provision was Rs 30 lacs and deferred tax provision was Rs 2.61 lacs.

• Domestic sales were Rs 2,827.65 lacs and export sales Rs 528.51 lacs; total sales were Rs 3,356.16 lacs.

Outlook and guidance

• Priorities include export business, maximum capacity utilization, stronger brand image, cost reduction and higher product quality; management expressed confidence in future growth.

• Recruitment and employee training were emphasized to build pharmaceutical industry expertise.