Solar Industries India (SOLARINDS) Q4 03/04 earnings summary

Executive summary

• FY 2003-04 turnover rose 35.30% YoY to Rs. 5,477.13 lakh; profit before tax rose 9.84% to Rs. 460.53 lakh and profit after tax reached Rs. 373.32 lakh.

• New products, expanded exports and planned capacity upgrades supported growth initiatives, while interim dividend was recommended at Rs. 1 per share.

Financial highlights

• Turnover was Rs. 5,477.13 lakh versus Rs. 4,048.09 lakh; reported growth was 35.30%.

• Profit before interest was Rs. 773.16 lakh, up 18.19%; profit before interest and tax was Rs. 657.03 lakh, up 15.11%.

• Profit before tax was Rs. 460.53 lakh, up 9.84%; profit after tax was Rs. 373.32 lakh versus Rs. 300.22 lakh.

• Sales after excise duty were Rs. 4,833.85 lakh; other income was Rs. 85.84 lakh, taking total income to Rs. 4,919.69 lakh.

Outlook and guidance

• Plans included widening export offerings with seismic explosives, 50 mm emulsion explosives and higher-charge detonating fuse.

• Planned cartridge-machine capacity upgrade to 160 CPM from 120 CPM, alongside upgrades to existing equipment, aimed to improve productivity and reduce costs.

• Product development priorities included P1 and P3 permitted emulsions and customer-specific P1 and P5 products for Singareni Group of Collieries.