Starsource Multitrade (506365) Q4 06/07 earnings summary

Executive summary

• No manufacturing activity in FY2006-07; all fixed assets of the Kalyan Chemical Division were sold, ending manufacturing operations.

• Diversification options were under review, with no significant progress by year-end.

Financial highlights

• Aggregate income was Rs.305.27 lakh, including Rs.266.50 lakh profit on fixed-asset sales and Rs.22.24 lakh from sundry balances written back.

• Profit before depreciation and tax was Rs.1.93 lakh versus Rs.3.91 lakh in FY2005-06; profit after tax was Rs.1.20 lakh versus Rs.0.70 lakh.

• Other expenses included Rs.270.66 lakh for diminution in investment value, a significant non-recurring charge.

Outlook and guidance

• Management was exploring entry into other business activities; no significant progress had been made.

• Forward-looking expectations were subject to actual results differing materially; no public update obligation was assumed.