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BILT’s full year PAT up by 19.06% to Rs 3036mn

This article was posted on Aug 29, 2008 and is filed under Press Releases

Ballarpur Industries Limited (BILT) today announced its financial and operating results for FY 2007-08 and Q4 FY 2008.

*BILT follows a July 1 – June 30 fiscal year; therefore the current announcement covers the Company’s financial performance for the fourth quarter and twelve months of Fiscal 2008.
Performance highlights for FY 2008 vs FY 2007
FY 2008 (July – June 2008) compared with FY 2007 (July – June 2007):
Paper and Paper products revenues are higher by 18.49% to Rs 26113 million compared to Rs.22039 million in the last year. PBIDT has increased by 22.05% to Rs 7146 million from Rs 5855 million, while PBT is higher by 13.82% at Rs 3740 million compared to Rs 3286 million. The Company’s cash generation from operations (PAT + Depreciation & Amortisation + Deferred Tax Liability) has increased by 16.04 % to Rs 5317 million from Rs.4582 million.

Q4 FY 2007 (April – June 2008) compared with Q4 FY 2007 (April – June 2007):

Paper and Paper products Revenues have grown by 3.37 % at Rs 6865 million compared to Rs 6641 million over the same quarter in previous year. EBIDTA for the quarter has improved by 8.48 % to Rs. 1832 Mn compared to 1689 Mn , while PBT has increased by 1.90 % to Rs 903 million from Rs 886 Million. The Company’s cash generation from operations (PAT + Depreciation & amortization + Deferred Tax Liability) has increased 8.74 % to Rs 1331 million from Rs 1224 million.

Operating overview:

· PBT growth was 13.82 %, while the Net Profit grew by 19.06 % over the previous year.

· Net Profit has increased by 19.06 % to Rs 3036 millions from Rs 2550 millions.

· EBITDA for the year increased by 21.38% to Rs. 7240 millions from Rs 5965 millions.

· EBITDA margin (net of excise, internal transfers and other income) was 25.57% for the year as compared to 25.73 % during the previous year.

· Fully Diluted EPS grew from Rs. 2.81 to Rs .4.76, reflecting a growth of 69.40%.

· Total writing and printing paper production of 152351 MT in Q4 FY 2008 compared to 146707 MT in Q4 FY 2007.

· Total writing & printing paper sales of 159979 MT in Q4 FY 2008 compared with 147808 MT in Q4 FY 2007.

· Total writing and printing paper sales at 600411 MT compared to 581909 MT in the last year.

· Interest costs at Rs. 371 million during the fourth quarter 3.23% higher than the corresponding quarter previous year. Yearly interest cost higher by over 47.74% at Rs. 1482 million.

· The gross revenues for the current year was 3026 Crores registering an increase of 19.90 %.

· The PAT was Rs.303.59 Crores as against Rs 256 Crores registering an increase of 19.06%

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