Shakti Pumps (India) (531431) Q4 02/03 earnings summary

Executive summary

• FY ended June 30, 2003 sales rose 14.35% YoY to Rs 4,748.17 lacs; PBT reached Rs 158.75 lacs and PAT was Rs 87.38 lacs.

• Expansion plans continued as exports grew and stainless steel pumps found acceptance in domestic and international markets.

Financial highlights

• Sales were Rs 4,748.17 lacs vs Rs 4,152.25 lacs in FY02; total income was Rs 4,900.85 lacs vs Rs 4,180.80 lacs.

• PBT was Rs 158.75 lacs vs Rs 144.09 lacs; PAT was Rs 87.38 lacs vs Rs 140.61 lacs.

• Exports were Rs 943.65 lacs vs Rs 783.46 lacs; export earnings on an FOB basis were Rs 785.99 lacs vs Rs 584.90 lacs.

Outlook and guidance

• Expansion of activities was planned in line with policy decisions; stainless steel pumps were described as gaining acceptance in domestic and international markets.

• Export growth was expected to continue; domestic demand was supported by greater electricity availability and rising electricity costs, according to the outlook.