Uno Minda (532539) Q4 05/06 earnings summary

Executive summary

• FY05/06 sales rose 36.26% to Rs 30,658.23 lacs; profit after tax increased 26.82% to Rs 1,295.48 lacs.

• Performance reflected growth in system-supply sales and a changing product mix; cost-control efforts continued amid global competition.

Financial highlights

• Net sales, net of excise, were Rs 26,805.15 lacs vs Rs 19,641.09 lacs; gross sales were Rs 30,658.24 lacs vs Rs 22,498.85 lacs.

• Cash operating profit was Rs 3,139.95 lacs vs Rs 2,472.23 lacs; PBT was Rs 2,088.49 lacs vs Rs 1,551.97 lacs.

• PAT was Rs 1,295.48 lacs vs Rs 1,021.54 lacs; cash earnings were Rs 2,316.15 lacs vs Rs 1,911.01 lacs.

• Total assets were Rs 15,600.12 lacs; gross fixed assets reached Rs 11,962.78 lacs.

Outlook and guidance

• A new manufacturing unit was planned at Pant Nagar, Uttaranchal, to support just-in-time customer supply.

• Export expansion plans included supply ties with major automakers, particularly in the U.S. and Europe; One Star Trading House status was valid through March 31, 2009.

• Proposed FY05/06 dividend was Rs 2.50 per equity share, or 25%, alongside a 9% preference-share dividend, subject to shareholder approval.