Results 15-Aug-23
Analysis
Sreeleathers
Sales up 11%, net up 16%
Standalone net sales (including other operating income) of Sreeleathers for the quarter ended Jun 2023 has increased 10.51% to Rs 49.63 crore. Operating profit margin has jumped from 17.30% to 18.32%, leading to 16.99% rise in operating profit to Rs 9.09 crore. Purchase of finished goods cost fell from 75.36% to 74.02%. Employee cost increased from 3.12% to 3.33%. Other expenses fell from 4.21% to 3.97%. Other income fell 8.33% to Rs 0.11 crore. PBIDT rose 16.60% to Rs 9.2 crore. Provision for interest up 20% to Rs 0.12 crore. PBDT rose 16.56% to Rs 9.08 crore. Provision for depreciation rose 25% to Rs 0.35 crore. Profit before tax grew 16.25% to Rs 8.73 crore. Provision for tax was expense of Rs 2.25 crore, compared to Rs 1.91 crore. Effective tax rate was 25.77% compared to 25.43%. Profit after tax rose 15.71% to Rs 6.48 crore.
Promoters’ stake was 75.00% as of 30 June 2023 ,compared to 74.91% as of 30 June 2022 .
Sreeleathers : Standalone Results
Quarter ended
Year ended
Particulars
202306
202206
Var.(%)
202303
202203
Var.(%)
Net Sales (including other operating income)
49.63
44.91
10.51
199.64
121.86
63.83
OPM (%)
18.32
17.30
101 bps
17.90
19.31
-141 bps
OP
9.09
7.77
16.99
35.73
23.53
51.85
Other Inc.
0.11
0.12
-8.33
0.59
0.59
0.00
PBIDT
9.20
7.89
16.60
36.32
24.12
50.58
Interest
0.12
0.1
20.00
0.45
0.44
2.27
PBDT
9.08
7.79
16.56
35.87
23.68
51.48
Depreciation
0.35
0.28
25.00
1.27
1.14
11.40
PBT
8.73
7.51
16.25
34.6
22.54
53.50
PBT before EO
8.73
7.51
16.25
34.6
22.54
53.50
EO Income
0
0
-
0
0
-
PBT after EO
8.73
7.51
16.25
34.6
22.54
53.50
Taxation
2.25
1.91
17.80
8.98
6.01
49.42
PAT
6.48
5.6
15.71
25.62
16.53
54.99
P/(L) from discontinued operations net of tax
0
0
-
0
0
-
Net profit after discontinued operations
6.48
5.6
15.71
25.62
16.53
54.99
EPS (Rs)*
2.80
2.42
15.71
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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