PCBL Chemical (PCBL) Q4 99/00 earnings summary

Executive summary

• FY ended 30 Sep 2000 sales turnover rose 19% YoY to Rs 40,603.53 lakh; PBT increased 58.5% to Rs 755.33 lakh and PAT reached Rs 670.33 lakh.

• Carbon black sales volume grew 13% to over 132,000 MT, while production rose 15% to 132,320 MT despite higher feedstock costs and a slower second half.

Financial highlights

• Sales were Rs 40,603.53 lakh vs Rs 34,138.37 lakh YoY; other income was Rs 639.21 lakh vs Rs 508.13 lakh.

• PBT was Rs 755.33 lakh vs Rs 476.64 lakh; PAT was Rs 670.33 lakh vs Rs 381.64 lakh.

• Interest expense rose to Rs 917.70 lakh from Rs 851.12 lakh; depreciation was Rs 917.70 lakh vs Rs 851.12 lakh in the Directors’ Report summary.

• Recommended dividend remained 10% (Rs 1 per share), absorbing Rs 177.53 lakh; dividend tax was Rs 39.06 lakh.

• Operating cash flow was Rs 4,889.17 lakh; closing cash and cash equivalents were Rs 3,594.71 lakh.

Outlook and guidance

• Truck and Bus tyre demand was expected to recover in the new calendar year, supporting carbon black demand; domestic competition was expected to remain stiff.

• Export customers in the region were expected to continue providing support; lower CBFS import duty was identified as important to industry competitiveness.

• Outlook was positive barring unforeseen circumstances.