Shivalik Bimetal Controls (513097) Q4 04/05 earnings summary

Executive summary

• FY ended 31 Mar 2005 delivered 33.71% growth in sales and other income to Rs 7,323.02 lakh; PBT rose to Rs 744.01 lakh from Rs 475.73 lakh.

• Export turnover more than doubled to Rs 2,028.28 lakh, up 114.25% YoY, while expansion, product development and new market opportunities supported the outlook.

Financial highlights

• Sales and other income reached Rs 7,323.02 lakh vs Rs 5,476.65 lakh; reported PBT was Rs 744.01 lakh vs Rs 475.73 lakh.

• PAT was Rs 666.01 lakh vs Rs 407.99 lakh; current tax provision was Rs 38 lakh and deferred tax provision Rs 40 lakh.

• Gross profit before interest, depreciation and tax increased to Rs 1,086.43 lakh from Rs 726.37 lakh.

Outlook and guidance

• Outlook for products was described as promising; discussions with prospective associates and customers for new applications were at an advanced stage.

• Product development targets included bimetal/trimetal clad welded strips, discs and components for automotive, electrical and electronics applications.

• Management focus included higher sales and realizations, cost reductions, quality and productivity improvements, and continued product and market diversification.