Tata Elxsi (TATAELXSI) Q4 99/00 earnings summary

Executive summary

• FY 1999-2000 total income was Rs. 12,423.41 lakh; profit after tax was Rs. 670.50 lakh, versus Rs. 9,515.49 lakh and Rs. 277.28 lakh, respectively, in FY 1998-99.

• Orders booked crossed Rs. 100 crore for the first time; Design & Development (D&D) operations grew 67% to Rs. 28 crore.

Financial highlights

• Sales and services were Rs. 12,373.72 lakh in FY 1999-2000; other income was Rs. 49.69 lakh, bringing total income to Rs. 12,423.41 lakh.

• Profit before tax was Rs. 757.89 lakh; tax provision was Rs. 87.39 lakh and profit after tax was Rs. 670.50 lakh.

• Financial expenses were Rs. 365.87 lakh and depreciation was Rs. 452.05 lakh for FY 1999-2000.

Outlook and guidance

• Strong Film & Video sales growth was expected to continue in FY 2000-01; CAD/CAM was positioned to serve a market upturn if investment spending resumed.

• Plans included expanding support-contract revenues and increasing Commercial Paper borrowings to reduce overall borrowing costs.

• D&D operations were working toward SEI CMM Level 5 certification in the following year; Level 5 assessment was subsequently recorded on June 2, 2000.