Vintage Coffee and Beverages (538920) Q4 12/13 earnings summary

Executive summary

• FY ended Mar. 31, 2013 income was Rs. 15,000; net loss widened to Rs. 28,984 from Rs. 12,649 in FY12. No dividend was recommended due to losses.

• Directors cited efforts to improve performance; AGM remarks highlighted substantial working-capital and growth funding needs.

Financial highlights

• Total income was Rs. 15,000 vs. nil in FY12; expenditure rose to Rs. 43,984 from Rs. 12,649, resulting in a Rs. 28,984 loss before tax.

• Paid-up share capital remained Rs. 1,247,000; accumulated losses reached Rs. 1,820,983 at Mar. 31, 2013, compared with Rs. 1,791,999 a year earlier.

• No income-tax provision was recorded as the year ended in a loss; no dividend was recommended.

Outlook and guidance

• Directors said they were working to improve performance; AGM remarks identified substantial funding needs for working capital and growth-related activities.

• The chairman explained the rationale for a proposed warrant issue to a strategic investor; the available minutes do not record an outcome for that proposal.