See FY10 profit at Rs 15cr: Astec Lifesciences

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Astec Lifesciences has announced its third quarter results of FY10. It has reported profit afte tax of Rs 3.80 crore on revenues of Rs 29.66 crore. Its operating profit margin stood at 24%.

In an interview with CNBC-TV18, Ashok Hiramat, Chairman, Astec Lifesciences, speaks about the results and his outlook for the company.

Here is a verbatim transcript of the exclusive interview with Ashok Hiramat on CNBC-TV18. Also watch the accompanying video.

Q: Your profitability figure for Q3, you have clocked a revenue of almost touching Rs 30 crore, what do you hope to close the financial year with?

A: We are looking to close the financial year with sales of around Rs 115 crore, this would represent a growth of about 30% over the previous year.

Q: Could you take us through your expansion plans which you have in various segments? What are you looking from agro chemical space where major chunk of your business comes in at and on export front as well what is the kind of traction are you seeing?

A: In terms of the expansion plans, the work on expansion programme has already started and this will take coming two quarters to implement. So we hope to have the expansion in place by the last calendar quarter of this year.

In terms of the pattern of what we are doing, we are actually expanding existing capacitates and introducing a couple of new products and some of these products are based on exports. So we see our export revenues increasing as time goes by from current level of about 35% to about 50% in the coming two years. This trend will continue and in the next 5 years you could see our exports being about 70% of our total sales.

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Q: So what do you hope to do as far as bottomline is concerned, would you finish this year with about Rs 20 crore of profit?

A: We are looking at about Rs 15 crore of profit and this would represent about a 32-35% growth over the previous year.

Q: In December you bagged orders worth about Rs 7 crore that was from Sygenta India and Nufarm, what about the execution and when will this order reflect on to your books?

A: The execution is going on and this is happening in this quarter itself.