Viyash Scientific (512529) Q4 08/09 earnings summary

Executive summary

• Standalone FY09 total income rose 58% to ₹10,785.43 lakh and net profit increased to ₹351.77 lakh; figures include the merged Elixir business and are not comparable with FY08.

• Consolidated income more than doubled to ₹15,053.13 lakh, but consolidated results shifted to a ₹1,465.98 lakh net loss from ₹252.18 lakh profit in FY08.

• Growth priorities included export expansion, capacity additions, regulatory filings and acquisitions in veterinary APIs and pharmaceutical fermentation.

Financial highlights

• Standalone total income was ₹10,785.43 lakh vs ₹6,818.43 lakh; standalone profit before tax was ₹553.45 lakh vs ₹274.12 lakh.

• Standalone net profit was ₹351.77 lakh vs ₹203.30 lakh; reported EPS was ₹3.17 vs ₹2.07.

• Consolidated income was ₹15,053.13 lakh vs ₹7,519.30 lakh; consolidated loss before tax was ₹1,264.18 lakh and net loss ₹1,465.98 lakh.

• Exports reached ₹6,256.11 lakh vs ₹2,846.99 lakh; domestic sales grew 19% to ₹4,350 lakh.

• Recommended dividend: 10%, or ₹1 per ₹10 equity share.

Outlook and guidance

• Mahad capacity was planned to double; revenues from expanded capacity were expected in coming years.

• Export momentum in APIs was expected to build despite the global downturn; regulatory filings for two products were planned for FY10.

• Domestic priorities included new markets, product launches and a broader portfolio to reduce reliance on fewer products.