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Quarterly Financial Results  
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STATEMENT OF CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2023

(Rs. In Lacs except earning per share data)
Particulars CONSOLIDATED
Quarter Ended Year Ended
31.03.2023 31.12.2022 31.03.2022 31.03.2023 31.03.2022
Audited Unaudited Audited Audited Audited
1. Revenue from Operations :
a) Sales/Income from Operations 16,786.21 19,002.38 18,325.37 73,715.25 63,112.39
b) Other Operating Income 785.68 588.09 610.76 2,884.40 1,935.01
Total Revenue from Operations 17,571.89 19,590.47 18,936.13 76,599.65 65,047.40
2. Other Income 31.75 70.84 481.52 1,057.51 1,266.92
3. Total Income (1+2) 17,603.64 19,661.31 19,417.65 77,657.16 66,314.32
4. Expenses:          
a) Cost of materials consumed 7,546.94 8,365.95 7,917.68 35,538.33 31,020.16
b) Purchase of stock-in-trade 2,217.02 2,642.88 4,198.37 11,151.81 11,070.56
c) Changes in inventoris of finished goods, work-in- -progress and stock-in-trade 22.33 624.23 (1,396.45) (1,008.40) (4,757.05)
d) Employee benefits expense 1,610.13 1,584.44 1,508.69 6,372.49 5,772.57
e) Finance Cost 376.49 368.08 186.02 1,419.71 966.13
f) Depreciation and amortisation expense 425.69 394.00 363.13 1,600.67 1,449.83
g) Power and Fuel 421.24 434.10 467.92 1,818.52 1,632.78
h) Other expenses 4,081.65 4,058.01 4,583.53 17,051.14 14,531.05
Total Expenses 16,701.49 18,471.69 17,828.89 73,944.27 61,686.03
5. Profit before exceptional items and tax (3-4) 902.15 1,189.62 1,588.76 3,712.89 4,628.29
6. Exceptional Items (Refer note no. 4) - - - - 382.21
7. Profit Before Tax (5-6) 902.15 1,189.62 1,588.76 3,712.89 4,246.08
8. Tax Expenses:          
a) Current Tax 140.77 200.69 403.68 849.85 1,170.25
b) Deferred Tax 63.49 45.06 (20.77) 70.69 (67.32)
9. Net Profit After Tax ( 7-8 ) 697.89 943.87 1,205.85 2,792.35 3,143.15
10. Share of Profit of Associates 56.51 77.57 61.68 232.79 456.73
11. Profit after tax including share of profit of associates (9+10) 754.40 1,021.44 1,267.53 3,025.14 3,599.88
12. 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 2.44 (8.49) (16.99) (3.59) (20.78)
ii) Deferred tax related on items that will not reclassified to profit or loss (0.61) 2.13 4.37 0.98 5.32
b) Items that will be re-classified to the Statement of Profit & Loss - - - - -
Total Other Comprehensive Income 1.83 (6.36) (12.62) (2.61) (15.46)
13.Total comprehensive income for the period (11+12) 756.23 1,015.08 1,254.91 3,022.53 3,584.42
a) Profit attributable to Non Controlling Equity Holders 38.17 111.22 44.87 367.30 44.87
b) Profit attributable to Controlling Equity Holders 718.06 903.86 1,210.04 2,655.23 3,539.55
14. Paid-up equity share capital 1,102.50 1,102.50 1,102.50 1,102.50 1,102.50
15. Face value of equity share capital (Rs.) 10.00 10.00 10.00 10.00 10.00
16. Other Equity (excluding revaluation reserve) - - - 44,179.29 41,336.68
17. Earning per equity share of Rs. 10/- each (Not annualised)          
a) Basic 6.84 9.26 11.50 27.44 32.65
b) Diluted 6.84 9.26 11.50 27.44 32.65
           
           
Segment wise Revenue, Results, Assets and Liabilities for the Quarter and half year ended on 30th September, 2022
Particulars Quarter Ended Half Year Ended
30.09.2022 30.06.2022 30.09.2021 30.09.2022 30.09.2021
Unaudited Unaudited Unaudited Unaudited Unaudited
1.Segment Revenue
a) Leather & Leather Products 15,997.49 17,208.55 16,675.55 68,510.15 55,670.70
b) Textile Products 1,606.15 2,452.76 2,742.10 9,147.01 10,643.62
Total Segment Revenue 17,603.64 19,661.31 19,417.65 77,657.16 66,314.32
Less: Inter segment revenue - - - - -
Income from Operations 17,603.64 19,661.31 19,417.65 77,657.16 66,314.32
2.Segment Results          
(Profit before finance cost and tax)          
a) Leather & Leather Products 1,220.32 1,380.62 1,458.32 4,609.01 4,361.38
b) Textile Products 58.32 177.07 316.46 523.59 850.83
Total Profit before finance cost and tax 1,278.64 1,557.69 1,774.78 5,132.60 5,212.21
Less: Finance Cost 376.49 368.07 186.02 1,419.71 966.13
Profit Before Tax 902.15 1,189.62 1,588.76 3,712.89 4,246.08

3. Segment Assets

          
a) Leather & Leather Products 76,025.50 78,882.36 70,080.77 76,025.50 70,080.77
b) Textile Products 7,871.96 8,050.48 8,897.66 7,871.96 8,897.66
Total 83,897.46 86,932.84 78,978.43 83,897.46 78,978.43
4. Segment Liabilities          

a) Leather & Leather Products

 35,735.20 39,363.80 32,382.59 35,735.20 32,382.59

b) Textile Products

 2,880.47 3,051.12 4,156.66 2,880.47 4,156.66
Total 38,615.67 42,414.92 36,539.25 38,615.67 36,539.25

5.Capital Employed

          

a) Leather & Leather Products

 40,290.30 39,518.56 37,698.18 40,290.30 37,698.18

b) Textile Products

 4,991.49 4,999.36 4,741.00 4,991.49 4,741.00

Total

 45,281.79 44,517.92 42,439.18 45,281.79 42,439.18
           

 
NOTES:-
 
1. The above Audited Financial Results were reviewed and recomended by the Audit Committee, subsequently approved and were taken on record by the Board of Directors in their meeting held on 30th May 2023. The statutory auditors have expressed an unmodified audit opinion on these results.
 
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. The said 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 31, 2022/2023 are balancing figures between audited figures in respect of year ended March 2022/2023 and the published year to date figures upto the nine months period ended December 2021/2022.
 
4. Exceptional Item amounting to Rs. 382.21 Lacs represent loss on sale of Land and Building (property). Operation of one of the unit alongwith entire plant & machinery has been shifted to another location for better synergies and efficiency in operations; and the property has been disposed off to have additional liquidity for business operations of the company.
 
5. The Board of Director have recommended Dividend @ % (i.e. Rs. per Share) on the equity share capital for the financial year ended March 31, 2023.
 
6. 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: 30.05.2023
Place - Kanpur 		Mukhtarul Amin                   
Chairman and Managing Director  
DIN - 12108                     
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