Poly Medicure (531768) Q4 99/00 earnings summary

Executive summary

• FY2000 returned to profitability: net profit Rs 34.43 lakh versus a prior-year loss; gross revenue rose to Rs 1,048.76 lakh from Rs 650.29 lakh.

• Production increased 77.10% YoY to 115.53 lakh medical disposables, with capacity utilization improving to 76.88% from 54.25%.

Financial highlights

• Gross revenue Rs 1,048.76 lakh; total expenditure Rs 816.59 lakh; interest and finance charges Rs 103.49 lakh; PBT Rs 38.93 lakh.

• Audited P&L reports net profit Rs 34.43 lakh versus prior-year loss Rs 5.01 lakh; tax provision was Rs 4.50 lakh.

• Product sales, including trading goods, were Rs 1,036.66 lakh; other income Rs 12.10 lakh; inventory change was a Rs 10.19 lakh decrease.

Outlook and guidance

• Management expected production and sales in FY2001 to exceed the prior year despite tough competition in domestic and export markets.

• Following encouraging trade-fair response and CE Mark registration across the product range, higher export sales were expected in FY2001.