Results     31-May-24
Analysis
Sreeleathers
Net down 29% hit by 610 bps erosion in OPM
Standalone net sales (including other operating income) of Sreeleathers for the quarter ended Mar 2024 has increased 2.71% to Rs 49.60 crore.  Operating profit margin has declined from 19.69% to 13.59%, leading to 29.13% decline in operating profit to Rs 6.74 crore.  Purchase of finished goods cost rose from 75.20% to 75.42%.   Employee cost increased from 3.50% to 4.29%.   Other expenses rose from 2.30% to 6.12%.   

PBIDT fell 28.65% to Rs 6.9 crore.  Provision for interest up 23.08% to Rs 0.16 crore.  Loan funds declined from Rs 3.15 crore as of 31 March 2023 to Rs 2.93 crore as of 31 March 2024.  Inventories declined from Rs 14.38 crore as of 31 March 2023 to Rs 12.51 crore as of 31 March 2024.  Sundry debtors were higher at Rs 0.40 crore as of 31 March 2024 compared to Rs 0.34 crore as of 31 March 2023.  Cash and bank balance rose to Rs 10.53 crore as of 31 March 2024 from Rs 7.86 crore as of 31 March 2023.  Investments rose to Rs 263.99 crore as of 31 March 2024 from Rs 219.06 crore as of 31 March 2023 .  

PBDT fell 29.35% to Rs 6.74 crore.  Provision for depreciation down 57.14% to Rs 0.15 crore.  Fixed assets declined from Rs 150.13 crore as of 31 March 2023 to Rs 149.78 crore as of 31 March 2024.  Intangible assets stood at Rs 1.22 crore.  

Profit before tax down 28.29% to Rs 6.59 crore.  Provision for tax was expense of Rs 1.81 crore, compared to Rs 2.46 crore.  Effective tax rate was 27.47% compared to 26.77%.

Profit after tax fell 28.97% to Rs 4.78 crore.  

Full year results analysis


Net sales (including other operating income) of Sreeleathers has increased 9.04% to Rs 217.68 crore.  Operating profit margin has declined from 17.90% to 17.26%, leading to 5.15% rise in operating profit to Rs 37.57 crore.  Purchase of finished goods cost fell from 75.06% to 74.56%.   Employee cost increased from 3.09% to 3.43%.   Other expenses rose from 4.09% to 4.61%.   

Other income fell 3.39% to Rs 0.57 crore.  PBIDT rose 5.01% to Rs 38.14 crore.  Provision for interest up 26.67% to Rs 0.57 crore.  Loan funds declined from Rs 3.15 crore as of 31 March 2023 to Rs 2.93 crore as of 31 March 2024.  Inventories declined from Rs 14.38 crore as of 31 March 2023 to Rs 12.51 crore as of 31 March 2024.  Sundry debtors were higher at Rs 0.40 crore as of 31 March 2024 compared to Rs 0.34 crore as of 31 March 2023.  Cash and bank balance rose to Rs 10.53 crore as of 31 March 2024 from Rs 7.86 crore as of 31 March 2023.  Investments rose to Rs 263.99 crore as of 31 March 2024 from Rs 219.06 crore as of 31 March 2023 .  

PBDT rose 4.74% to Rs 37.57 crore.  Provision for depreciation down 7.09% to Rs 1.18 crore.  Fixed assets declined from Rs 150.13 crore as of 31 March 2023 to Rs 149.78 crore as of 31 March 2024.  Intangible assets stood at Rs 1.22 crore.  

Profit before tax grew 5.17% to Rs 36.39 crore.  Provision for tax was expense of Rs 9.54 crore, compared to Rs 8.98 crore.  Effective tax rate was 26.22% compared to 25.95%.

Profit after tax rose 4.80% to Rs 26.85 crore.  

Equity capital stood at Rs 23.16 crore as of 31 March 2024 to Rs 23.16 crore as of 31 March 2023.  Per share face Value remained same at Rs 10.00.  

Promoters’ stake was 75.00% as of 31 March 2024 ,compared to 75.00% as of 31 March 2023 .  



Sreeleathers : Standalone Results
Quarter endedYear ended
Particulars202403202303Var.(%)202403202303Var.(%)
Net Sales (including other operating income)49.6048.292.71217.68199.649.04
OPM (%)13.5919.69-610 bps17.2617.90-64 bps
OP6.749.51-29.1337.5735.735.15
Other Inc.0.160.160.000.570.59-3.39
PBIDT6.909.67-28.6538.1436.325.01
Interest0.160.1323.080.570.4526.67
PBDT6.749.54-29.3537.5735.874.74
Depreciation0.150.35-57.141.181.27-7.09
PBT6.599.19-28.2936.3934.65.17
PBT before EO6.599.19-28.2936.3934.65.17
EO Income00-00-
PBT after EO6.599.19-28.2936.3934.65.17
Taxation1.812.46-26.429.548.986.24
PAT4.786.73-28.9726.8525.624.80
P/(L) from discontinued operations net of tax00-00-
Net profit after discontinued operations4.786.73-28.9726.8525.624.80
EPS (Rs)*2.062.91-28.9711.6011.064.80
* 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


Previous News
  Sreeleathers standalone net profit rises 37.04% in the March 2020 quarter
 ( Results - Announcements 31-Jul-20   07:51 )
  Sreeleathers standalone net profit declines 19.55% in the December 2020 quarter
 ( Results - Announcements 14-Feb-21   08:53 )
  Sreeleathers standalone net profit rises 170.00% in the September 2021 quarter
 ( Results - Announcements 15-Nov-21   08:06 )
  Sreeleathers to table results
 ( Corporate News - 07-Nov-19   14:59 )
  Sreeleathers
 ( Results - Analysis 14-Nov-23   23:32 )
  Sreeleathers standalone net profit rises 113.42% in the September 2018 quarter
 ( Results - Announcements 18-Nov-18   09:52 )
  Sreeleathers to table results
 ( Corporate News - 23-Jul-20   11:19 )
  Premier Polyfilm Ltd leads gainers in 'B' group
 ( Hot Pursuit - 26-Jul-21   12:15 )
  Sreeleathers to declare Quarterly Result
 ( Corporate News - 23-May-19   14:14 )
  Sreeleathers standalone net profit declines 17.80% in the December 2019 quarter
 ( Results - Announcements 15-Feb-20   08:13 )
  Sreeleathers standalone net profit rises 7.02% in the December 2023 quarter
 ( Results - Announcements 13-Feb-24   07:33 )
Other Stories
  Plastiblends India
  14-Jul-24   15:45
  Avenue Supermarts
  14-Jul-24   07:07
  HCL Technologies
  13-Jul-24   06:27
  Tata Consultancy Services
  12-Jul-24   09:47
  Tata Elxsi
  11-Jul-24   05:54
  Shalby
  08-Jul-24   18:33
  Apollo Hospitals Enterprise
  04-Jun-24   10:04
  ITL Industries
  01-Jun-24   02:14
  International Combustion (India)
  31-May-24   11:32
  Fluidomat
  31-May-24   11:28
Back Top