Vimta Labs (524394) Q4 04/05 earnings summary

Executive summary

• FY05 gross revenue was ₹5,257.86 lakh; EBITDA reached ₹2,683.48 lakh and net profit after tax was ₹1,412.44 lakh, up 66% YoY.

• Export turnover rose 83% to ₹2,099.44 lakh; expansion at SP Bio-Tech Park was expected to begin operations in September 2005.

Financial highlights

• Revenue was ₹5,257.86 lakh versus ₹3,490.87 lakh in FY04; operating income from testing and analysis was ₹5,219.52 lakh versus ₹3,511.37 lakh.

• EBITDA was ₹2,683.48 lakh versus ₹1,655.56 lakh; profit before tax was ₹2,243.46 lakh versus ₹1,267.33 lakh.

• Net profit after tax, including deferred tax, was ₹1,412.44 lakh versus ₹850.11 lakh; export income was ₹2,099.44 lakh versus ₹1,145.78 lakh.

• Testing and analysis expenditure was ₹1,097.96 lakh; employee payments and benefits were ₹720.75 lakh, versus ₹722.82 lakh and ₹463.45 lakh, respectively, in FY04.

Outlook and guidance

• Expansion at SP Bio-Tech Park, Genome Valley, was expected to commence operations in September 2005, adding facility and technology capacity.

• The stated 2010 goal was to rank among the top ten global contract research and testing laboratories.

• Industry prospects were described as bright, with contract research growth rates of 30%–50% across disciplines; export-market demand for testing was also increasing.