Viyash Scientific (512529) Q4 98/99 earnings summary

Executive summary

• FY ended Mar. 31, 1999: profit before tax was ₹1.827m and profit after tax ₹1.653m, versus ₹53,147 and ₹36,882, respectively, in FY98.

• Earnings were driven mainly by investment-sale profit and dividend income; the board retained earnings for future operations and recommended no dividend.

Financial highlights

• Miscellaneous income was ₹1.870m versus ₹89,475 YoY; administrative and other expenses were ₹43,025 versus ₹36,327.

• Other income included ₹1.590m profit on sale of investments, ₹171,608 dividend income, ₹101,382 Badla trading income and ₹7,693 interest.

• Profit carried to the balance sheet rose to ₹2.044m from ₹390,182; reserves and surplus were ₹2.044m at Mar. 31, 1999.

Outlook and guidance

• Earnings were retained to support future operations; no equity dividend was recommended.

• Y2K contingency plans were in place for any hardware or software found non-compliant; estimated compliance costs were not expected to be significant.