For year-to-date (YTD) results analysis
Net sales (including other operating income) of Sreeleathers has increased 5.65% to Rs 109.91 crore. Operating profit margin has jumped from 16.60% to 19.27%, leading to 22.64% rise in operating profit to Rs 21.18 crore. Purchase of finished goods cost fell from 75.89% to 74.33%. Employee cost increased from 2.72% to 2.92%. Other expenses fell from 5.12% to 3.64%. Other income fell 16.13% to Rs 0.26 crore. PBIDT rose 21.96% to Rs 21.44 crore. Provision for interest up 23.81% to Rs 0.26 crore. PBDT rose 21.93% to Rs 21.18 crore. Provision for depreciation rose 23.21% to Rs 0.69 crore. Profit before tax grew 21.89% to Rs 20.49 crore. Provision for tax was expense of Rs 5.28 crore, compared to Rs 4.33 crore. Effective tax rate was 25.77% compared to 25.76%. Profit after tax rose 21.88% to Rs 15.21 crore.
Equity capital stood at Rs 23.16 crore as of 30 September 2023 to Rs 23.16 crore as of 30 September 2022. Per share face Value remained same at Rs 10.00. Promoters’ stake was 75.00% as of 30 September 2023 ,compared to 74.91% as of 30 September 2022 .
Loan funds declined from Rs 3.25 crore as of 30 September 2022 to Rs 3.05 crore as of 30 September 2023. Inventories rose to Rs 15.23 crore as of 30 September 2023 from Rs 15.07 crore as of 30 September 2022. Sundry debtors were lower at Rs 0.46 crore as of 30 September 2023 compared to Rs 0.64 crore as of 30 September 2022. Cash and bank balance rose to Rs 10.74 crore as of 30 September 2023 from Rs 9.46 crore as of 30 September 2022. Investments rose to Rs 241.97 crore as of 30 September 2023 from Rs 201.12 crore as of 30 September 2022 . Fixed assets declined from Rs 150.83 crore as of 30 September 2022 to Rs 149.64 crore as of 30 September 2023. Intangible assets stood at Rs 1.22 crore.
