Shivalik Bimetal Controls (513097) Q4 97/98 earnings summary

Executive summary

• FY ended 31 Mar 1998 sales rose 18% YoY to Rs 1,072.69 lacs; profit after tax increased to Rs 75.91 lacs from Rs 56.55 lacs.

• Operations ran smoothly, with domestic and export commitments met; plans advanced for a finished Snap Action Disc facility funded from internal accruals.

Financial highlights

• Profit before tax was Rs 104.41 lacs vs Rs 99.05 lacs; tax provision fell to Rs 28.50 lacs from Rs 42.50 lacs.

• Export sales reached Rs 45.74 lacs vs Rs 17.54 lacs; other income was Rs 16.49 lacs vs Rs 10.61 lacs.

• Net cash from operating activities was Rs 55.78 lacs; cash and cash equivalents increased Rs 33.68 lacs to Rs 49.12 lacs.

Outlook and guidance

• Management expected higher sales and consequent profit growth in 1998-99, citing a promising sales trend and encouraging Unit II orders.

• The proposed Disc Making Plant was intended to add value to thermostatic bimetal products; financing was planned from internal accruals rather than long-term borrowings.