Rain Industries (RAIN) Q4 00/01 earnings summary

Executive summary

• FY01 sales reached Rs 269.38 crore versus Rs 222.56 crore; profit after tax was Rs 2.61 crore, reversing a prior-year loss of Rs 8.80 crore.

• Cement production was 10,60,124 MT; ready-mix concrete production was 32,270 cubic metres.

Financial highlights

• Sales rose to Rs 269.38 crore from Rs 222.56 crore; other income was Rs 1.23 crore versus Rs 2.09 crore.

• Profit before tax was Rs 2.86 crore, including prior-period expenses of Rs 12.06 lakh; profit after tax was Rs 2.61 crore versus a prior-year loss of Rs 8.80 crore.

• Interest and financial charges increased to Rs 33.99 crore from Rs 27.58 crore.

Outlook and guidance

• Board cited substantial growth in operations and turnover over recent years as the basis for higher managerial remuneration, with a stated objective of improving the bottom line in coming years.

• Management said installed capacity at the two cement plants needed review and expansion in response to market challenges.

• Energy-saving measures implemented during the year were expected to save Rs 30 lakh annually.