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Quarterly Financial Results  
Quarterly Financial Results Standalone      |      Quarterly Financial Results Consolidated      |      Balance Sheet
 

STATEMENT OF CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH 2020

(Rs. In Lacs except earning per share data)
Particulars CONSOLIDATED
Quarter Ended Year Ended
31.03.2020 31.12.2019 31.03.2019 31.03.2020 31.03.2019
Audited Unaudited Audited Audited Audited
1. Revenue from Operations :
a) Sales/Income from Operations 11,713.83 16,002.93 15,222.84 58,656.15 66,781.37
b) Other Operating Income 188.31 790.39 799.87 2,211.08 2,658.64
Total Revenue from Operations 11,902.14 16,793.32 16,022.71 60,867.23 69,440.01
2. Other Income 116.93 443.78 241.24 1,297.97 745.82
3. Total Income (1+2) 12,019.07 17,237.10 16,263.95 62,165.20 70,185.83
4. Expenses:
a) Cost of materials consumed 4,957.85 6,992.63 7,576.50 25,624.15 32,128.77
b)Purchase of stock-in-trade 1,145.61 2,477.90 1,387.97 8,783.13 10,160.91
c)Changes in inventoris of finished goods, work-in- -progress and stock-in-trade 88.51 97.22 758.53 733.39 (82.31)
d) Employee benefits expense 1,316.75 1,394.70 1,364.25 5,616.33 5,646.59
e) Finance Cost 313.06 456.15 486.24 1,693.39 1,935.55
f) Depreciation and amortisation expense 342.83 382.26 330.91 1,477.55 1,538.06
g) Power and Fuel 323.72 417.62 429.07 1,633.95 1,722.04
h) Other expenses 3,106.11 4,071.86 3,497.03 13,925.65 13,966.21
Total Expenses 11,594.44 16,290.34 15,830.50 59,487.54 67,015.82
5.Profit before exceptional items and tax (3-4) 424.63 946.76 433.45 2,677.66 3,170.01
6. Exceptional Items - - - - -
7. Share of Profit of Associates (net of tax) 15.97 59.63 118.30 230.31 334.98
8. Profit Before Tax (5-6+7) 440.60 1,006.39 551.75 2,907.97 3,504.99
9. Tax Expenses:          
a) Current Tax 15.17 204.28 43.24 475.30 921.42
b) Deferred Tax (98.61) (147.61) 121.73 (422.07) 158.33
10. Net Profit After Tax ( 8-9 ) 524.04 949.72 386.78 2,854.74 2,425.24
11. 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 (46.20) 8.37 (15.18) (53.10) (5.03)
ii) Deferred tax related on items that will not reclassified to profit or loss 11.10 (2.91) 5.34 13.38 1.55
b) Items that will be re-classified to the Statement of Profit & Loss - - - - -
Total Other Comprehensive Income (35.10) 5.46 (9.84) (39.72) (3.48)
12.Total comprehensive income for the period (10+11) 488.94 955.18 376.94 2,815.02 2,421.76
13. Paid-up equity share capital (face value of Rs. 10/-each) 1,102.50 1,102.50 1,141.98 1,102.50 1,141.98
Earning per equity share of Rs. 10/- each (Not annualised)
a) Basic 4.75 8.61 3.51 25.89 22.00
b) Diluted 4.75 8.61 3.51 25.89 22.00
           
           
Segment wise Revenue, Results, Assets and Liabilities for the Quarter and yaer ended on 31st March 2020
Particulars Quarter Ended Year Ended
31.03.2020 31.12.2019 31.03.2019 31.03.2020 31.03.2019
Audited Unaudited Audited Audited Audited
1.Segment Revenue
a) Leather & Leather Products 10,171.97 14,760.59 14,404.56 53,914.24 61,580.26
b) Textile Products 1,847.10 2,476.51 1,859.39 8,250.96 8,605.57
Total Segment Revenue 12,019.07 17,237.10 16,263.95 62,165.20 70,185.83
Less: Inter segment revenue - - - - -
Income from Operations 12,019.07 17,237.10 16,263.95 62,165.20 70,185.83
2.Segment Results          
(Profit before finance cost and tax)          
a) Leather & Leather Products 634.41 1,442.76 1,051.29 4,270.69 5,081.33
b) Textile Products 119.25 19.78 (13.30) 330.67 359.21
Total Profit before finance cost and tax 753.66 1,462.54 1,037.99 4,601.36 5,440.54
Less: Finance Cost 313.06 456.15 486.24 1,693.39 1,935.55
Profit Before Tax 440.60 1,006.39 551.75 2,907.97 3,504.99

3. Segment Assets

          
a) Leather & Leather Products 59,191.33 62,854.71 61,152.61 59,191.33 61,152.61
b) Textile Products 9,273.83 9,609.93 10,006.27 9,273.83 10,006.27
Total 68,465.16 72,464.64 71,158.88 68,465.16 71,158.88
4. Segment Liabilities          

a) Leather & Leather Products

 27,416.35 31,470.04 31,876.22 27,416.35 31,876.22

b) Textile Products

 5,723.12 6,146.43 6,971.67 5,723.12 6,971.67
Total 33,139.47 37,616.47 38,847.89 33,139.47 38,847.89

5.Capital Employed

          

a) Leather & Leather Products

 31,774.98 31,384.67 29,276.39 31,774.98 29,276.39

b) Textile Products

 3,550.71 3,463.50 3,034.60 3,550.71 3,034.60

Total

 35,325.69 34,848.17 32,310.99 35,325.69 32,310.99
           

 
NOTES:-
 
1. The Audited Ind AS financial results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 30.06.2020. The Audit Report of the Statutory Auditors alongwith results is being filed with the Stock Exchange(s). However, since the consolidated financial results of the company are being submitted for the first time pursuant to the mandatory requirement with effect from 1st, April 2019, the consolidated figures for the comparative quarter of financial year ended 31st March, 2019, as reported as these financial results, have not been subjected to audit.
 
2. These financial results have been prepared in accordance with Indian Accounting Standards (IND-AS) as prescribed under section 133 of Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment thereafter. These financial results of the parent company and its subsidiaries (together referred as the "Group") have been prepared in accordance with IND-AS 110 - Consolidated Financial Statements".
 
3.The figures for the quarter ended March, 2019/2020 are balancing figures between audited figures in respect of year ended March 2019/2020 and the published year to date figures upto the nine months period ended December 2018/2019.
 
4.Tax Expense (Current tax) for the quarter/year ended 31st March 2020 is net of Income tax adjustments relating to earlier years amounting to Rs. 126.13 Lacs.
 
5.Pursuant to the Taxation Laws (Amendment) Ordinance, 2019, tax rates have changed with effect from April 01, 2019 and accordingly, the company has opted for reduced rates as permitted under Section 115BBA of the Income Tax Act, 1961. Accordingly the company has recognised provision for income tax for year ended March 31, 2020 and re-measured its deferred tax on the basis of rates prescribed in said section. The full impact of this change, which is Rs. 527.55 Lacs, has been evenly spread out in three quarters ended September 2019, December 2019 and March 2020.
 
6. The company has analysed all the relevant parameters associated with the risk due to pendamic COVID-19 and is of the opinion that it will not have any matrial impact on the businness and going concern assumption.
 
7. The Board of Director have recommended Dividend @ 8% on the equity share capital for the financial year ended 31st March, 2020
 
8. 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: 30.06.2020
Place - Unnao		 Mukhtarul Amin                
Chairman and Managing Director  
DIN - 12108                     
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