Starsource Multitrade (506365) Q4 11/12 earnings summary

Executive summary

• Manufacturing remained suspended; activities centered on share trading and investments while directors explored new business opportunities.

• FY12 profit after tax rose to Rs 8.48m from Rs 35,150, with income primarily reflecting a Rs 10.43m profit on sale of long-term investments.

Financial highlights

• Other income was Rs 10.669m versus Rs 363,063 in FY11; profit before tax was Rs 9.326m versus Rs 35,150.

• Profit after tax was Rs 8.480m versus Rs 35,150; basic and diluted EPS was Rs 5.65 versus Rs 0.02.

• Total assets and liabilities were Rs 48.099m versus Rs 43.350m; reserves and surplus reached Rs 29.661m from Rs 21.180m.

• Cash and cash equivalents were Rs 3.727m versus Rs 76,092; non-current investments fell to Rs 16.844m from Rs 28.311m.

Outlook and guidance

• Surplus funds were placed in liquid investments to meet capital needs for potential new business; directors were exploring new opportunities.

• Forward-looking expectations carry risks and actual results could differ materially; no obligation to update projections was stated.