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Standalone net sales (including other operating income) of Sreeleathers for the quarter ended Mar 2023 has increased 37.34% to Rs 48.29 crore. Operating profit margin has jumped from 15.84% to 19.69%, leading to 70.74% rise in operating profit to Rs 9.51 crore. Purchase of finished goods cost fell from 77.00% to 75.20%. Employee cost increased from 2.64% to 3.50%. Other expenses fell from 4.87% to 2.30%. Other income fell 11.11% to Rs 0.16 crore. PBIDT rose 68.17% to Rs 9.67 crore. Provision for interest fell 31.58% to Rs 0.13 crore. PBDT rose 71.58% to Rs 9.54 crore. Provision for depreciation down 2.78% to Rs 0.35 crore. Profit before tax grew 76.73% to Rs 9.19 crore. Provision for tax was expense of Rs 2.46 crore, compared to Rs 1.52 crore. Effective tax rate was 26.77% compared to 29.23%. Profit after tax rose 82.88% to Rs 6.73 crore.
Full year results analysis
Net sales (including other operating income) of Sreeleathers has increased 63.83% to Rs 199.64 crore. Operating profit margin has declined from 19.31% to 17.90%, leading to 51.85% rise in operating profit to Rs 35.73 crore. Purchase of finished goods cost rose from 73.39% to 75.06%. Employee cost increased from 2.96% to 3.09%. Other expenses fell from 4.59% to 4.09%. PBIDT rose 50.58% to Rs 36.32 crore. Provision for interest up 2.27% to Rs 0.45 crore. Loan funds declined from Rs 3.33 crore as of 31 March 2022 to Rs 3.15 crore as of 31 March 2023. Inventories rose to Rs 14.38 crore as of 31 March 2023 from Rs 12.92 crore as of 31 March 2022. Sundry debtors were higher at Rs 0.34 crore as of 31 March 2023 compared to Rs 0.29 crore as of 31 March 2022. Cash and bank balance rose to Rs 7.86 crore as of 31 March 2023 from Rs 6.83 crore as of 31 March 2022. Investments rose to Rs 219.06 crore as of 31 March 2023 from Rs 182.09 crore as of 31 March 2022 . PBDT rose 51.48% to Rs 35.87 crore. Provision for depreciation rose 11.40% to Rs 1.27 crore. Fixed assets declined from Rs 150.35 crore as of 31 March 2022 to Rs 150.13 crore as of 31 March 2023. Intangible assets stood at Rs 1.22 crore. Profit before tax grew 53.50% to Rs 34.60 crore. Provision for tax was expense of Rs 8.98 crore, compared to Rs 6.01 crore. Effective tax rate was 25.95% compared to 26.66%. Profit after tax rose 54.99% to Rs 25.62 crore. Equity capital stood at Rs 23.16 crore as of 31 March 2023 to Rs 23.16 crore as of 31 March 2022. Per share face Value remained same at Rs 10.00. Promoters’ stake was 75.00% as of 31 March 2023 ,compared to 74.62% as of 31 March 2022 . Loan funds declined from Rs 3.33 crore as of 31 March 2022 to Rs 3.15 crore as of 31 March 2023. Inventories rose to Rs 14.38 crore as of 31 March 2023 from Rs 12.92 crore as of 31 March 2022. Sundry debtors were higher at Rs 0.34 crore as of 31 March 2023 compared to Rs 0.29 crore as of 31 March 2022. Cash and bank balance rose to Rs 7.86 crore as of 31 March 2023 from Rs 6.83 crore as of 31 March 2022. Investments rose to Rs 219.06 crore as of 31 March 2023 from Rs 182.09 crore as of 31 March 2022 . Fixed assets declined from Rs 150.35 crore as of 31 March 2022 to Rs 150.13 crore as of 31 March 2023. Intangible assets stood at Rs 1.22 crore.
| Sreeleathers : Standalone Results | | Quarter ended | Year ended |
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| Particulars | 202303 | 202203 | Var.(%) | 202303 | 202203 | Var.(%) |
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| Net Sales (including other operating income) | 48.29 | 35.16 | 37.34 | 199.64 | 121.86 | 63.83 | | OPM (%) | 19.69 | 15.84 | 385 bps | 17.90 | 19.31 | -141 bps | | OP | 9.51 | 5.57 | 70.74 | 35.73 | 23.53 | 51.85 | | Other Inc. | 0.16 | 0.18 | -11.11 | 0.59 | 0.59 | 0.00 | | PBIDT | 9.67 | 5.75 | 68.17 | 36.32 | 24.12 | 50.58 | | Interest | 0.13 | 0.19 | -31.58 | 0.45 | 0.44 | 2.27 | | PBDT | 9.54 | 5.56 | 71.58 | 35.87 | 23.68 | 51.48 | | Depreciation | 0.35 | 0.36 | -2.78 | 1.27 | 1.14 | 11.40 | | PBT | 9.19 | 5.20 | 76.73 | 34.6 | 22.54 | 53.50 | | PBT before EO | 9.19 | 5.2 | 76.73 | 34.6 | 22.54 | 53.50 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 9.19 | 5.2 | 76.73 | 34.6 | 22.54 | 53.50 | | Taxation | 2.46 | 1.52 | 61.84 | 8.98 | 6.01 | 49.42 | | PAT | 6.73 | 3.68 | 82.88 | 25.62 | 16.53 | 54.99 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 6.73 | 3.68 | 82.88 | 25.62 | 16.53 | 54.99 | | EPS (Rs)* | 2.91 | 1.59 | 82.88 | 11.06 | 7.14 | 54.99 | | | * EPS is on current equity of Rs 23.16 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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