Shukra Pharmaceuticals (524632) Q4 98/99 earnings summary

Executive summary

• FY1998-99 turnover reached Rs 1,064.83 lakh, up 22.72% YoY; profit after depreciation and interest was Rs 17.86 lakh, versus Rs 15.21 lakh.

• The injection plant was ready to begin commercial production, subject to regulatory approvals; directors expected it to support results in the current and coming years.

Financial highlights

• Turnover increased to Rs 1,064.83 lakh from Rs 867.70 lakh; exports rose to Rs 317.36 lakh from Rs 298.73 lakh.

• Profit before depreciation and interest was Rs 85.72 lakh; depreciation was Rs 33.57 lakh and interest expense Rs 34.28 lakh.

• Profit before tax was Rs 17.86 lakh, provision for tax Rs 2 lakh and profit after tax Rs 15.86 lakh, versus Rs 15.21 lakh, Rs 1.15 lakh and Rs 14.06 lakh, respectively, in FY1997-98.

Outlook and guidance

• Injection plant commercial production was contingent on approvals from relevant authorities; directors anticipated improved results following its commencement.

• Y2K compliance was targeted by end-October 1999, with estimated remediation costs expected to be insignificant; contingency measures were being prepared to support operational continuity.