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Quarterly Financial Results
 

STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2018

(Rs. In Lacs except earning per share data)
Particulars Quarter Ended Year Ended
30.06.2018 31.03.2018 30.06.2017 31.03.2018
Unaudited Audited Unaudited Audited
1. Income :
a) Revenue from operations (Including Excise Duty) 14,825.01 15,094.49 14,346.29 56,369.90
b) Other Income 30.19 357.92 268.29 1,251.67
Total Income from Operations 14,855.20 15,452.41 14,614.58 57,621.57
2. Expenses:
a) Cost of materials consumed 7,849.74 7,888.00 7,197.13 29,920.65
b)Purchase of stock-in-trade 830.85 733.43 653.99 2,713.30
c)Changes in inventoris of finished goods, work-in- -progress and stock-in-trade (158.31) (462.87) 932.13 1,397.50
d) Excise Duty - - 64.35 64.35
e)Employee benefits expenses 1,033.81 1,074.96 1,045.67 4,262.70
f) Finance Cost

482.92

 432.86 480.26 1,800.11
g) Depreciation and amortisation expense 357.12 388.39 397.13 1,469.57
h) Power and Fuel 417.43 403.85 373.20 1,558.53
i) Other expenses 3,138.03 3,221.71 3,105.97 12,480.92
Total Expenses 13,951.59 14,606.07 14,249.83 55,667.63
3. Profit before exceptional items and tax ( 1-2 ) 903.61 846.34 364.75 1,953.94
4. Exceptional Items - - - -
5. Profit Before Tax (3-4) 903.61 846.34 364.75 1,953.94
6. Tax Expenses:        
a) Current Tax 323.40 262.29 115.00 582.39
b) Deferred Tax 15.58 (35.82) (4.63) 82.10
7. Net Profit After Tax ( 5-6 ) (564.63) 619.87 254.38 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 14.94 (51.38) (26.67) 13.60
ii) Deferred tax related on items that will not reclassified to profit or loss (5.22) 18.35 9.30 (4.71)
b) Items that will be re-classified to the Statement of Profit & Loss - - - -
Total Other Comprehensive Income 9.72 (33.03) (17.37) 8.89
9.Total comprehensive income for the period ( 7+8 ) 574.35 586.84 237.01 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
Earning per equity share of Rs. 10/- each (Not annualised)        
a) Basic 5.21 5.32 2.31 11.78
b) Diluted 5.21 5.32 2.31 11.78
         
         
Segment wise Revenue, Results, Assets and Liabilities for the Quarter ended on 30th June, 2018
Particulars Quarter Ended Year Ended
30.06.2018 31.03.2018 30.06.2017 31.03.2018
Unaudited Audited Unaudited Audited
1.Segment Revenue
a) Leather & Leather Products 12,640.73 12,980.69 11,995.08 47,394.28
b) Textile Products 2,214.47 2,471.72 2,351.21 10,227.29
Total Segment Revenue 14,855.20 15,452.41 14,346.29 57,621.57
Less: Inter segment revenue - - - -
Income from Operations 14,855.20 15,452.41 14,346.29 57,621.57
2.Segment Results        
(Profit before finance cost and tax)        
a) Leather & Leather Products 1,255.07 1,204.06 849.36 3,566.94
b) Textile Products 131.46 75.14 (4.35) 187.11
Total Profit before finance cost and tax 1,386.53 1,279.20 845.01 3,754.05
Less: Finance Cost 482.92 432.86 480.26 1,800.11
Profit Before Tax 903.61 846.34 364.75 1,953.94

3. Segment Assets

        
a) Leather & Leather Products 54,003.47 52,044.67 49,764.17 52,044.67
b) Textile Products 10,158.91 10,200.44 9,810.01 10,200.44
Total 64,162.38 62,245.11 59,574.18 62,245.11
4. Segment Liabilities        

a) Leather & Leather Products

 29,457.73 28,030.65 27,061.91 28,030.65

b) Textile Products

 7,088.46 7,144.63 6,496.44 7,144.63
Total 36,546.19 35,175.28 33,558.35 35,175.28

5.Capital Employed

        

a) Leather & Leather Products

 24,545.74 24,014.02 22,702.26 24,014.02

b) Textile Products

 3,070.45 3,055.81 3,313.57 3,055.81

Total

 27,616.19 27,069.83 26,015.83 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 August 2018.
 
2.The Limited Review of the un-audited Financial Results for the quarter ended 30th June 2018, pursuant to Regulation 33 ( c )( i ) of SEBI (Listing Obligation and Disclouser Requirement) Regulation, 2015 have been carried out by the Statutory Auditors.
 
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. Beginning April 01, 2017 the company had for the first time adopted Ind AS with "Transition Date" April 01, 2016.
 
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 quarter ended June 30, 2018 are not comparable with corresponding previous quarter 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. There was a fire at the Registered Office of the Company situated at 150 Feet Road, Jajmau, Kanpur on 23rd June 2018 in the night. The domestic Trading Division including E-Commerce was also located at the same premises. Building, other assets and stock was lost in fire. The claim on the insurance company has been lodged for the losses.
 
6. 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.
 
7. The Figure for the quarter ended March 31, 2018 are balancing figures between audited figures in respect of Financial year ended March 31, 2018 and the published year to date figures upto the third quarter ended on December 31, 2017.
 
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: 14.08.2018
Place - Unnao		 Zafarul Amin                    
(Joint Managing Director)          
DIN - 15533                     
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