Vimta Labs (524394) Q4 02/03 earnings summary

Executive summary

• FY03 revenue rose 77.28% to Rs.1,978.92 lakh; PAT increased 73.11% to Rs.210.72 lakh. Export income reached a record Rs.363.46 lakh.

• Demand growth prompted capacity expansion, new service locations and upgraded lab operations; management expected perceptible growth in H2 of FY04.

Financial highlights

• Total income was Rs.1,978.92 lakh vs Rs.1,116.22 lakh; PBT rose to Rs.352.72 lakh from Rs.184.72 lakh.

• EBITDA was Rs.596.82 lakh vs Rs.348.79 lakh; PAT was Rs.210.72 lakh vs Rs.121.72 lakh.

• Board recommended a dividend of Rs.1.50/share, up from Rs.1.10/share; proposed dividend totaled Rs.54.13 lakh.

Outlook and guidance

• Demand for services continued to increase; planned resource and facility additions aimed to support growth, with benefits expected in H2 FY04.

• Plans included branch laboratories, sample collection centres and liaison offices, with focus on water, food, nutrition, drugs and health.

• Management expected further productivity and profit increases, while noting that measurable growth could not be quantified.