Repro India net sales increased 88% to Rs 68.34 crore for the quarter ended December 2008 compared to corresponding previous year period while net profit fell 17% to Rs 3.37 crore. The company reported loss on account of foreign currency fluctuation (Net) of Rs.8.48 crore for the current quarter includes: a) Rs 6.14 crore representing lower realisation on account of hedging of future receivables against which corresponding revenue is recognised under net sales and b) Rs 2.34 crore notional loss on account of restatement of foreign currency loans and debtors.

The Surat project has started commercial production in Q4 FY'09 which is expected to contribute Rs 120-150 crore to topline for FY'10.

The company did outsourcing of Rs 7-8 crore in Q3 FY'09 which it expects to be nil in Q4 FY'09 due to start of Surat project.

The company sees no effect of global recession on the company as only 10% of its exports come from US and developed markets.

The company debtor days stands at 143 days in Q3 FY'09 which the company expects to reduce it to 120 days in Q4 FY'10. The company targets it to reduce it to 90 days.

Exports form 70% of the revenues. The company targets 65% revenue from exports and 35% from domestic markets in long term.

The total debt stands at Rs 95 crore out of which Rs 30 crore is long term and Rs 65 crore is working capital.

International paper prices are coming down. Around 25-30% of raw materials are being currently sourced from international markets which are mainly for some specific purpose like environmentally favourable papers for Infosys Annual report. The company is seriously considering increasing more imports of raw material paper from international markets.

Rupee depreciation is a favourable situation for Repro India as its export earnings are considerably high at 70% of the total revenues.

Repro India has tied up with Educomp for supply of books to Andhra Pradesh and Karnataka government. Repro India will only print the books and supply it to Educomp.

No capex plan in FY'10.

Interest cost of the company increased 113% to Rs 2.51 crore for the quarter ended December 2008 compared to corresponding previous year quarter mainly due to expansion of Surat plant, increase in working capital due to increase in turnover and in general higher interest rates.

The company's order book for Q4FY'09 is more than Rs 50 crore.