Shukra Pharmaceuticals (524632) Q4 97/98 earnings summary

Executive summary

• FY98 sales turnover rose 18% YoY to Rs 867.70 lakh; profit after depreciation and interest increased to Rs 15.21 lakh from Rs 7.07 lakh.

• Injectable production capacity was installed at the existing site, with production expected to commence shortly.

Financial highlights

• Sales were Rs 869.70 lakh vs Rs 731.55 lakh in FY97; reported turnover growth was over 18%.

• Net profit after tax was Rs 14.06 lakh vs Rs 6.15 lakh; provision for tax was Rs 1.15 lakh vs Rs 0.92 lakh.

• Exports rose to Rs 298.73 lakh from Rs 275.81 lakh, an increase of over 8% as reported.

• Depreciation declined to Rs 31.95 lakh from Rs 61.83 lakh; interest expense rose to Rs 20.64 lakh from Rs 16.62 lakh.

Outlook and guidance

• Management expected coming-year results to be excellent following commencement of the injectable project.

• Civil works and machinery installation for injectables were complete; production was expected to start shortly.