Vista Pharmaceuticals (524711) Q4 98/99 earnings summary

Executive summary

• FY99 export turnover reached Rs 98.62 lakh, while the reported annual loss narrowed to Rs 37.81 lakh from Rs 63.05 lakh in FY98.

• Production and turnover of tablets and capsules rose to 19.119 million units from 8.640 million units.

Financial highlights

• Total income was Rs 100.01 lakh vs Rs 41.08 lakh in FY98; total expenditure was Rs 137.82 lakh vs Rs 104.13 lakh.

• Reported loss for FY99 was Rs 37.81 lakh; accumulated losses reached Rs 293.95 lakh at 31 March 1999.

• Export turnover was Rs 98.62 lakh vs Rs 43.51 lakh; raw material consumption rose to Rs 47.67 lakh from Rs 20.87 lakh.

Outlook and guidance

• Projected FY00 sales of Rs 2 crore to Rs 2.25 crore, with export expansion targeted across Africa, Latin America, South-East Asia and the Middle East.

• Off-patent generic candidates were under evaluation, with expected annual sales of USD 1 crore to USD 2 crore and development, bio-study and USFDA approval needs of USD 10 lakh.

• DTA sales permission from VEPZ covered up to 25% of the prior year's sales.