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Excellent results from Vikas WSP - Views on News from Equitymaster
 
 
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  • Apr 10, 2000

    Excellent results from Vikas WSP

    Vikas WSP has declared excellent results for the year ended March 2000. On an over 46% growth in the topline, the company has reported an over 79% growth in the net profit. An increase in the operating profit margin by 1% to over 37% accompanied by a 21% decline in the interest cost have been the main drivers of the company’s bottomline.

    (Rs m) FY1999 FY2000 Change
    Sales 1,585 2,327 46.8%
    Other Income 3 3 9.7%
    Expenditure 1,018 1,446 42.1%
    Operating Profit (EBDIT) 568 880 55.1%
    Operating Profit Margin (%) 36% 38%  
    Interest 88 69 -21.2%
    Depreciation 73 91 24.7%
    Profit before Tax 409 723 76.5%
    Other Adjustments      
    Tax 7   -100.0%
    Profit after Tax/(Loss) 403 723 79.4%
    Net profit margin (%) 25.4% 31.1%  

    The company is a leading exporter of guar gum–based water soluble polymers primarily to the USA and Europe which account for 85% of its exports. Guar gum is basically, the grinded endo–sperm (the substance found between the skin and embryo of the seed) of guar or cluster bean which is a rain fed drought–hardy crop grown in the north–western desert tracks of the country. It finds application in a host of industries such as textiles, paper, cosmetics, mining, explosives and food processing. Vikas’ clients include Nestle, Pepsi, Quest, Modern Foods, Bakeman’s etc.

    The company has paid a 100% dividend in the current year and claims to have orders on hand of Rs 597 m for the coming year. At this rate, Vikas WSP is well on its way to achieving its targeted turnover of Rs 10 bn by 2005.

     

     

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