Everest Organics Limited reports earnings for Q4, FY2020

Everest Organics Limited today announced its financial results for the fourth quarter and financial year ended March 31, 2020 ("Q4 & FY 2019-20"). Another robust and progressive year for the Company.

Q4 & FY2O RESULT HIGHLIGHTS

Highlights for the FY 2019-20 (Y-o-Y)

- Income from Operations ("Revenue") was INR 167.21 cr as compared to INR 155.84 Cr in the previous year, registering 7.30% growth in revenue.

- Profit after Taxes and Minority Interest ("PAT") was INR 10.89 Cr as compared to INR 7.50 Cr in the previous year registering 45.12% growth in PAT.

- Debt was INR 10.57 Cr as compared to INR 14.00 Cr in the previous year. Net Debt reduction by 32%.

Highlights for the Fourth Quarter (Q-o-Q)

Income from Operations ("Revenue") was INR 46.29 Cr as compared to INR 52.08 Cr in the previous year; vide spread lockdown globally had a marginal impact in the revenue growth.

- Profit after Taxes and Minority Interest ("PAT") was INR 3.96 Cr as compared to INR 0.94 Cr in the previous year, registering 319% growth in PAT.

- Company has recommended a dividend @ 10%.

Commenting on the results, Dr. Srikakarlapudi Srihari Raju, Managing Director, Everest Organics Limited said, "It has been a milestone year in the history of Everest, achieving all-time high performance, both in terms of top line and bottom line. It gives even more satisfaction as years of hard work in R& D has started yielding desired results. I am confident that the future ahead is bright and shall enable Everest to move to the next league of integrated pharma company. Going forward, the API sector is expected to get impetus from enhanced government support and focus, especially with current geopolitical situation.

Shares of EVEREST ORGANICS LTD. was last trading in BSE at Rs.176.15 as compared to the previous close of Rs. 152. The total number of shares traded during the day was 78099 in over 716 trades.

The stock hit an intraday high of Rs. 179.4 and intraday low of 156.15. The net turnover during the day was Rs. 13377371.

Source : Equity Bulls

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