Shukra Pharmaceuticals (524632) Q4 99/00 earnings summary

Executive summary

• FY2000 sales rose 30.42% YoY to Rs 138.95 crore; profit after depreciation and interest was Rs 24.57 lakh versus Rs 17.86 lakh. Exports increased 152.54% to Rs 8.01 crore.

• A commercial injection plant began operations, while a proposed modernisation and expansion programme was estimated to cost Rs 21 crore.

Financial highlights

• Revenue was Rs 139.50 crore, including Rs 138.95 crore sales, Rs 3.41 lakh other income and a Rs 2.11 lakh stock increase; FY1999 revenue was Rs 107.51 crore.

• Profit before depreciation and interest was Rs 99.83 lakh; depreciation was Rs 39.58 lakh and interest Rs 35.68 lakh.

• PBT was Rs 24.57 lakh versus Rs 17.86 lakh; tax provision was Rs 3 lakh and net profit after tax Rs 21.57 lakh versus Rs 15.86 lakh.

• Excluding the Rs 14,161 prior-year tax charge, profit available for appropriation was Rs 21.42 lakh; no dividend was recommended.

Outlook and guidance

• Expansion plans include dry-powder injectables, parenterals and ointment units, R&D development, and upgrades to the existing formulation plant.

• Plans also include manufacturing and marketing foreign companies’ original research molecules in India under licence; expected project cost was Rs 21 crore, financed through equity shares and tradable warrants.

• Management expected the modernisation and expansion programme to support improved growth in coming years.