SABERO ORGANICS LIMITED - FY10 IMPROVED OVER FY 09

Sabero Organics 
Gujarat Limited

Sabero Organics is a leader in crop protection and a leading producer and supplier of fungicides, herbicides and insecticides. With manufacturing facilities in India and marketing offices in India, Brazil, Europe, Australia and Argentina, Sabero supplies its products to over 1000 customers in 50 countries. Sabero is a publicly listed company, founded by the Chuganee Group, and is on a high growth path to double its sales over the next three years.

FY 10 VS FY 09

 RESULTS REVIEW

Sabero organics has declared improved results in FY 10 compared to FY 09. The results are reviewed below :

CONSOLIDATED RESULTS

Net Sales has increased to  Rs.430 Cr in FY 10 compared to Rs.377 Cr in FY 09, an increase of 14.04% YOY. On the other hand, total expenditure on consolidated basis has gone up by 7.16 %.

Consolidated Net Profit  has gone up much more than proportionately to Rs.38.53 Cr in FY 10 from Rs.20.44 Cr in FY 09, an increase of  88.51% YOY.

Consolidated Basic EPS  has gone up well to Rs.13.12 on a face value of Rs.10 in FY 10 from Rs.7 in FY 09, an increase of 87.43% YOY.

At the current Market price of Rs.68, the PE Ratio works out to just 5.18.

NON-CONSOLIDATED 
(STAND ALONE RESULTS)

Net Sales has increased by 17.36% to Rs.430 cr from Rs367 Cr YOY

Net Profit   has increased  to Rs.38.72 Cr from Rs.21.79 Cr YOY,( by 77.69%)

Stand Alone Basic EPS has gone up by 76.44% to Rs.13.18 in FY 10 from Rs.7.47 in FY 09 YOY.

QUARTERLY RESULTS

In all 4 quarters of FY 10, the sales have been above last year levels, and so is the EPS levels. FY 11 performance needs to be watched – for further improvement.

SABEROORGANCS CONSOL	FY10(lakhs)	FY 09(lakhs)	%age
Net Sales	43032	37734.86	14.04
Raw Materials	24968	25436.35	-1.84
Other Expenditure	7678	5703.83	34.61
Total Expenditure	35588	33208.79	7.16
OPT	7444	4526.07	64.47
Other Income	376	186.76	101.33
Interest	1705	1847.03	-7.69
Tax Expense	2237	823.85	171.53
Extraordinary Items	25	-
Net Profit	3853	2043.91	88.51
Consolidated NPT	3853	2043.91	88.51
Dividend (%)	-	-
Face Value (in Rs.)	10	10	0
Paid-up Equity	3380	2918.24	15.82
Reserves	8113	4349.84	86.51
Basic EPS	13.12	7	87.43
Diluted EPS	13.09	7	87

SABERO NON CONSOL	FY 10(lakhs)	FY 09(lakhs)	%AGE
Net Sales	43032	36666.08	17.36
Raw Materials	24968	24596.24	1.51
Total Expenditure	35564	32104.92	10.77
Other Income	371	153.81	141.21
Interest	1705	1714.11	-0.53
Exceptional items	-	-1.96
P B T	6134	3002.82	104.27
Tax Expense	2237	823.79	171.55
P A T	3897	2179.03	78.84
Extraordinary Items	25	-
Net Profit	3872	2179.03	77.69
Dividend (%)	12	-
Face Value (in Rs.)	10	10	0
Paid-up Equity	3380	2918.24	15.82
Reserves	8122	4367.87	85.95
Basic EPS ( Rs.)	13.18	7.47	76.44
Diluted EPS(Rs.)	13.15	7.47	76.04

SABERO QTRLY RESULTS	Q4 FY10	Q3 FY10	Q4 FY09
Net Sales	9657	10941	9923.75
Raw Materials	5303	6254	7339.89
Other Expenditure	2427	1822	1694.64
Total Expenditure	8361	8790	8847.92
Tax expense	508	660	436.73
Net Profit	713	1025	213.83
Dividend (%)	12	-	-
Face Value (In Rs	10	10	10
Paid Up Equity	3380	2926	2918.24
Basic EPS before Extr. items	2.5	3.51	0.73
Dil. EPS before Extr. items	2.49	3.03	0.73

ANNOUNCEMENTS TO THE EXCHANGE

27-05-2010        Sabero Organics Gujarat Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on May 27, 2010 have recommended Dividend @ 12% equivalent to Rs. 1.20/- per share on the Paid up Equity Share Capital of the Company for the year ended March 31, 2010 subject to approval of the shareholders at the forthcoming Annual General Meeting.    -

17-05-2010        Sabero Organics Gujarat Limited has informed the Exchange about the acquisition of 56972 Equity Shares of the Company by Karville Company Limited.

26-04-2010        Sabero Organics Gujarat Limited has informed the Exchange that the Board of Directors of the Company at their meeting held on April 26, 2010, have inter alia, transacted following matters :- (1) Approved allotment of 56972 Equity Shares to Karville Company Limited on exercise of right attached to the Optionally Fully Convertible Warrants allotted to them by the Company; (2) Approved Resignation of Mr. Khozem S. Poonawala as Company Secretary and Compliance Officer of the Company with effect from May 01, 2010; (3) Approved Appointment of Ms. Pritam P. Vartak as Company Secretary and Compliance Officer of the Company with effect from May 01, 2010.