Shakti Pumps (India) (531431) Q4 03/04 earnings summary

Executive summary

• FY ended June 30, 2004: total income was Rs 4,951.86 lacs; export sales rose 52% YoY to Rs 1,433.65 lacs despite higher raw-material costs.

• Profit after tax increased to Rs 119.51 lacs from Rs 87.38 lacs, while profit before tax declined to Rs 129.34 lacs from Rs 158.75 lacs.

Financial highlights

• Revenue from sales was Rs 4,698.58 lacs, down from Rs 4,748.18 lacs; total income including other income and stock change was Rs 4,951.86 lacs.

• Profit before interest and depreciation was Rs 435.75 lacs versus Rs 324.75 lacs; financial charges rose to Rs 255.08 lacs from Rs 185.07 lacs.

• Profit before tax was Rs 129.34 lacs versus Rs 158.75 lacs; profit after tax was Rs 119.51 lacs versus Rs 87.38 lacs.

• Raw-material costs were Rs 3,881.07 lacs versus Rs 3,927.62 lacs; selling and distribution expenses rose to Rs 433.79 lacs from Rs 390.78 lacs.

Outlook and guidance

• Expansion plans included automating operations with computerized machinery and tools, and adding pressure pumps and sewage pumps to the product range.