Shukra Pharmaceuticals (524632) Q4 96/97 earnings summary

Executive summary

• FY1996-97 sales rose 76% YoY to Rs. 731.55 lakh; exports increased 225% to Rs. 275.81 lakh. Net profit fell to Rs. 6.15 lakh, including the impact of a depreciation-method change.

• Civil works began for an injectable-products project at the existing site; a Rs. 93 lakh term-loan application awaited final sanction.

Financial highlights

• Sales revenue was Rs. 731.55 lakh versus Rs. 416.52 lakh in FY1995-96; total income, including other income and stock variation, was Rs. 759.61 lakh.

• Profit before depreciation was Rs. 68.90 lakh versus Rs. 48.10 lakh; profit before tax was Rs. 7.07 lakh versus Rs. 34.51 lakh.

• Net profit was Rs. 6.15 lakh versus Rs. 34.51 lakh; the Rs. 9.20 lakh tax provision compared with nil in the prior year.

• Exports reached Rs. 275.81 lakh versus Rs. 84.61 lakh; domestic sales were Rs. 450.10 lakh.

Outlook and guidance

• Injectable production was planned at the existing site, with civil works in progress; management expected improved future results following project commencement.

• A Rs. 93 lakh term loan had been applied for from Gujarat State Financial Corporation; final sanction was pending.