Rain Industries (RAIN) Q4 02/03 earnings summary

Executive summary

• 18-month period ended Sep. 30, 2003; cement operations produced 1.14 million tonnes, while reported net profit was driven by a one-time gain on transfer of the cement business.ocument-source]5ocument-source]

• The restructuring scheme transferred specified cement assets and liabilities effective Apr. 1, 2003; the business transfer was sanctioned by the Andhra Pradesh High Court in Aug. 2004.ocument-source]6ocument-source]

Financial highlights

• Turnover was Rs. 24,642 lakh for 18 months; MD&A gives prior-year turnover of Rs. 26,398 lakh, but the periods differ and are not directly comparable.ocument-source]5ocument-source]

• Net profit after tax was Rs. 4,920 lakh versus a prior-year loss of Rs. 1,204 lakh; pre-extraordinary loss was Rs. 6,698 lakh.ocument-source]5ocument-source]

• EPS was Rs. 22.26 after extraordinary items versus a loss of Rs. 5.45; excluding extraordinary items, EPS was a loss of Rs. 30.30.ocument-source]34ocument-source]

• Production reached 1,141,532 tonnes versus 1,128,787 tonnes; revenue and production comparisons cover 18 months versus 12 months.ocument-source]28ocument-source]

• Operating cash flow was Rs. 8,380 lakh; financing cash outflow was Rs. 8,582 lakh, and closing cash and equivalents were Rs. 51 lakh.ocument-source]35ocument-source]

Outlook and guidance

• Outlook anticipated stronger cement demand and prices, supported by infrastructure, road, airport, seaport and housing investment; recovery was expected to improve demand-supply balance and cement prices.ocument-source]27ocument-source]