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Quarterly Financial Results
 

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2018

(Rs. In Lacs except earning per share data)
Particulars Quarter ended Nine months ended Year ended
31.12.2018 30.09.2018 31.12.2017 31.12.2018 31.12.2017 31.03.2018
Unaudited Unaudited Audited Unaudited Audited Audited
1. Income :
a) Revenue from operations (Including Excise Duty) 15,054.46 15,410.93 13,402.65 45,290.40 41,275.41 56,369.90
b) Other Income 112.34 194.14 374.60 336.67 893.75 1,251.67
Total Income from Operations 15,166.80 15,605.07 13,777.25 45,627.07 42,169.16  57,621.57
2. Expenses:
a) Cost of materials consumed 7,671.59 9,030.93 7,900.91 24,552.26 22,032.65 29,920.65
b)Purchase of stock-in-trade 1,075.47 603.27 394.34 2,509.59 1,979.87 2,713.30
c)Changes in inventoris of finished goods, work-in- -progress and stock-in-trade (53.20) (701.86) (640.45) (806.97) 934.63 1,397.50
d) Excise Duty - - - - 64.35 64.35
e)Employee benefits expenses 1,022.86 1,053.55 1,187.89 3,110.22 3,187.74 4,262.70
f) Finance Cost

459.97

389.69 426.92 1,332.58 1,367.25 1,800.11
g) Depreciation and amortisation expense 356.66 410.03 367.74 1,123.81 1,081.18 1,469.57
h) Power and Fuel 407.25 464.52 369.79 1,289.20 1,154.68 1,558.53
i) Other expenses 3,527.42 3,307.34 3,178.65 9,972.79 9,259.21 12,480.92
Total Expenses 14,574.42 14,557.47 13,185.79 43,083.48 41,061.56 55,667.63
3. Profit before exceptional items and tax ( 1-2 ) 592.38 1,047.60 591.46 2,543.59 1,107.60 1,953.94
4. Exceptional Items - - - - - -
5. Profit Before Tax (3-4) 592.38 1,047.60 591.46 2,543.59 1,107.60 1,953.94
6. Tax Expenses:            
a) Current Tax 162.69 353.52 193.60 839.61 320.10 582.39
b) Deferred Tax 7.23 13.79 64.08 36.60 117.92 82.10
7. Net Profit After Tax ( 5-6 ) 422.46 680.29 333.78 1,667.38 669.58 1,289.45
8. Other Comprehensive Income:            
a) Items that will not be re-classified to the Statement of Profit & Loss            
i) Re-measurements of defined employees benefit plans (25.09) 20.30 3.66 10.15 64.98 13.60
ii) Deferred tax related on items that will not reclassified to profit or loss 8.19 (6.76) (1.68) (3.79) (23.06) (4.71)
b) Items that will be re-classified to the Statement of Profit & Loss - - - - - -
Total Other Comprehensive Income (16.90) 13.54 1.98 6.36 41.92 8.89
9.Total comprehensive income for the period ( 7+8 ) 405.56 693.83 335.76 1,673.74 711.50 1,298.34
10. Paid-up equity share capital (face value of Rs. 10/-each) 1,141.98 1,141.98 1,141.98 1,141.98 1,141.98 1,141.98
Earning per equity share of Rs. 10/- each (Not annualised)            
a) Basic 3.83 6.17 3.03 15.12 6.07 11.70
b) Diluted 3.83 6.17 3.03 15.12 6.07 11.70
             
             
Segment wise Revenue, Results, Assets and Liabilities for the Quarter and nine months ended on 31st December, 2018
Particulars Quarter Ended Nine months ended Year ended
31.12.2018 30.09.2018 31.12.2017 31.12.2018 31.12.2017 31.03.2018
Unaudited Unaudited Audited Unaudited Audited Audited
1.Segment Revenue
a) Leather & Leather Products 12,744.30 13,495.86 10,839.28 38,880.89 34,413.59 47,394.28
b) Textile Products 2,422.50 2,109.21 2,937.97 6,746.18 7,755.57 10,227.29
Total Segment Revenue 15,166.80 15,605.07 13,777.25 45,627.07 42,169.16 57,621.57
Less: Inter segment revenue - - -     -
Income from Operations 15,166.80 15,605.07 13,777.25 45,627.07 42,169.16 57,621.57
2.Segment Results            
(Profit before finance cost and tax)            
a) Leather & Leather Products 834.75 1,413.84 954.16 3,503.66 2,362.88 3,566.94
b) Textile Products 217.60 23.45 64.22 372.51 111.97 187.11
Total Profit before finance cost and tax 1,052.35 1,437.29 1,018.38 3,876.17 2,474.85 3,754.05
Less: Finance Cost 459.97 389.69 426.92 1,332.58 1,367.25 1,800.11
Profit Before Tax 592.38 1.047.60 591.46 2,543.59 1,107.60 1,953.94

3. Segment Assets

           
a) Leather & Leather Products 54,977.31 56,292.56 50,969.33 54,977.31 50,969.33 52,044.67
b) Textile Products 10,241.38 10,111.10 10,462.05 10,241.38 10,462.05 10,200.44
Total 65,218.69 66,403.66 61,431.38 65,218.69 61,431.38 62,245.11
4. Segment Liabilities            

a) Leather & Leather Products

29,297.72 30,962.92 27,534.44 29,297.72 27,534.44 28,030.65

b) Textile Products

7,221.53 7,146.84 7,343.14 7,221.53 7,343.14 7,144.63
Total 36,519.25 38,109.76 34,877.58 36,519.25 34,877.58 35,175.28

5.Capital Employed

           

a) Leather & Leather Products

25,679.59 25,329.64 23,434.89 25,679.59 23,434.89 24,014.02

b) Textile Products

3,019.85 2,964.26 3,118.91 3,019.85 3,118.91 3,055.81

Total

28,699.44 28,293.90 26,553.80 28,699.44 26,553.80 27,069.83

 
NOTES:-
 
1.The above un-audited financial results were reviewed by the Audit Committee and were taken on record and approved by the Board of Directors in their meeting held on 14th February, 2019.
 
2.The statutory auditors of the company have conducted limited review of these financial results, pursuants to Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015.
 
3.The Statements of Financial Results has been prepared in accordance with the Companies (Indian Accounting Standards Rules 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.
 
4.After implementation of the Goods & Service Tax (GST) with effect from 1st July 2017, Revenue from operations is required to be disclosed Net of GST in accordance with the requirements of Ind AS. Accordingly, the revenue from operations for the nine months ended 31st December, 2018 are not comparable with corresponding previous nine months and year presented in the financial results which are reported inclusive of excise duty for part of the year i.e. upto June 2017.
 
5. Ind AS 115 Revenue from Contracts with Customers, mandatory for reporting periods beginning on or after April 1, 2018, replaces existing revenue recognition requirements. Under the modified retrospective approach there were no significant adjustments required to the retained earnings at April 1, 2018. Also, the application of Ind AS 115 did not have any significant impact on recognition and measurement of revenue and related items in the financial results.
 
6. The Figure for the quarter ended December 31, 2018 are balancing figures between unaudited figures in respect of nine months ended December 31, 2018 and the published year to date figures upto the half year ended on September 30, 2018.
 
7. Figures of the previous period have been regrouped and rearranged wherever necessary to correspond with current period's classification/disclosure.
  For and on behalf of the BOARD     
 
Date: 14.02.2019
Place - Unnao
Mukhtarul Amin                    
(Chairman and Managing Director)          
DIN - 12108                    
mens footwear, ladies footwear, leather accessories, leather goods, leather, finished leather, safety footwear,readymade garments, riding products
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