PTC Industries (539006) Q4 12/13 earnings summary

Executive summary

• FY2012-13 net revenue from operations rose 16% to ₹137.86 crore; EBITDA increased over 27% to ₹23.19 crore and PBT before exceptional items grew 82% to ₹12.14 crore.

• Export-led growth and a strategic shift toward higher-value, higher-technology products accompanied the Bhiwadi unit’s sale and plans for a new Lucknow facility.

Financial highlights

• Net revenue from operations was ₹137.86 crore versus ₹118.55 crore; exports rose 55% to ₹81.23 crore, while net domestic sales declined about 14% to ₹59.69 crore.

• EBITDA was ₹23.19 crore versus ₹18.23 crore; PBT before exceptional items reached ₹12.14 crore versus ₹6.66 crore.

• PAT was ₹7.67 crore versus ₹7.04 crore; the ₹3.12 crore exceptional loss on the Bhiwadi slump sale reduced reported profit growth.

• Diluted EPS before exceptional items rose to ₹25.94 from ₹16.81; EPS after exceptional items was ₹18.29 versus ₹16.80.

Outlook and guidance

• FY2013-14 turnover was projected at ₹150 crore using existing capacities.

• Medium- and long-term prospects across served sectors were viewed positively; export-market share growth and new expansion projects remained priorities.

• The planned Lucknow facility is designed for castings up to 5,000 kg per piece using Replicast and Rapidcast processes.