Shivalik Bimetal Controls (513097) Q4 98/99 earnings summary

Executive summary

• FY99 sales rose 52.75% YoY to Rs. 1,903.81 lakh; profit after tax increased to Rs. 151.78 lakh from Rs. 75.91 lakh.

• Domestic market presence strengthened, and the outlook for FY2000 sales was described as promising.

Financial highlights

• Sales and other income totaled Rs. 1,919.04 lakh, versus Rs. 1,312.65 lakh in FY98; exports were Rs. 25.19 lakh.

• Profit before tax was Rs. 178.10 lakh, versus Rs. 104.41 lakh; profit after tax was Rs. 151.78 lakh, versus Rs. 75.91 lakh.

• Interest and finance charges rose to Rs. 36.77 lakh from Rs. 11.32 lakh; depreciation was Rs. 27.02 lakh versus Rs. 22.04 lakh.

• Recommended dividend was Rs. 2.50 per Rs. 10 share, with proposed dividend of Rs. 48.00 lakh and dividend tax of Rs. 5.28 lakh.

Outlook and guidance

• FY2000 sales trends were described as promising, with expectations for further sales growth.

• Snap Action Discs production had commenced after successful trials; approved samples had been supplied, with regular orders expected.

• Unit II demand trends remained encouraging, and capacity was expanded with additional presses and allied equipment.