RHI Magnesita India (534076) Q4 13/14 earnings summary

Executive summary

• FY14 net revenue reached ₹40,760.54 lakh, up 12.63% YoY; profit for the year rose 29.53% to ₹5,284.64 lakh.

• Statutory auditors issued an unqualified opinion on the FY14 financial statements.

Financial highlights

• Net sales and income increased from ₹36,189.13 lakh in FY13 to ₹40,760.54 lakh in FY14.

• PBDIT was ₹8,328.55 lakh versus ₹6,654.88 lakh; PBT rose to ₹7,958.48 lakh from ₹6,144.26 lakh.

• Net profit was ₹5,284.64 lakh, up from ₹4,139.02 lakh; FY14 tax expense was ₹2,673.84 lakh.

• Net revenue from operations was ₹40,350.37 lakh; other income was ₹410.17 lakh, including ₹192.20 lakh net foreign-currency gain.

Outlook and guidance

• Directors expected to sustain growth and profitability in FY15, citing improved prospects under the new government and a focus on manufacturing and infrastructure.

• Q1 FY15 PBT was ₹1,934.81 lakh, ~5% above ₹1,848.11 lakh in Q1 FY14; directors expected FY15 turnover and profitability to increase.

• Government growth aims were 7–8% over the next 3–4 years, with manufacturing and infrastructure revival among stated priorities.