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Quarterly Financial Results  
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STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2022

(Rs. In Lacs except earning per share data)
Particulars STANDALONE
Quarter Ended Year Ended
31.03.2022 31.12.2021 31.03.2021 31.03.2022 31.03.2021
Audited Unaudited Audited Audited Audited
1. Revenue from Operations :
a) Sales/Income from Operations 14,358.96 13,031.42 13,543.69 52,932.27 43,728.67
b) Other Operating Income 578.78 536.98 570.89 1,903.03 1,667.17
Total Revenue from Operations 14,937.74 13,568.40 14,114.58 54,835.30 45,395.84
2. Other Income 374.54 111.61 198.51 947.06 627.10
3. Total Income (1+2) 15,312.28 13,680.01 14,313.09 55,782.36 46,022.94
4. Expenses:          
a) Cost of materials consumed 6,773.89 7,703.19 6,704.87 29,876.37 22,915.00
b)Purchase of stock-in-trade 2,593.62 831.94 850.78 5,122.13 2,569.60
c)Changes in inventoris of finished goods, work-in- -progress and stock-in-trade (697.01) (1,214.14) 1,591.13 (3,823.51) 1,398.75
d) Employee benefits expense 1,021.17 1,104.54 876.89 4,143.32 3,236.83
e) Finance Cost 143.37 330.97 195.42 796.65 971.14
f) Depreciation and amortisation expense 314.69 356.33 342.65 1,371.01 1,440.22
g) Power and Fuel 417.47 373.07 384.95 1,559.10 1,312.31
h) Other expenses 3,559.45 3,309.47 2,942.07 12,722.59 9,687.19
Total Expenses 14,126.65 12,795.37 13,888.76 51,767.66 43,531.04
5.Profit before exceptional items and tax (3-4) 1,185.63 884.64 424.33 4,014.70 2,491.90
6. Exceptional Items - - - 382.21 -
7. Profit Before Tax (5-6) 1,185.63 884.64 424.33 3,632.49 2,491.90
8. Tax Expenses:          
a) Current Tax 310.81 236.00 91.39 1,047.81 514.25
b) Deferred Tax (40.26) 13.66 (16.54) (86.81) 13.96
9. Net Profit After Tax ( 7-8 ) 915.08 634.98 349.48 2,671.49 1,963.69
10. 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 (17.53) 6.64 21.65 (21.32) 61.51
ii) Deferred tax related on items that will not reclassified to profit or loss 4.38 (1.65) (5.63) 5.33 (15.99)
b) Items that will be re-classified to the Statement of Profit & Loss - - - - -
Total Other Comprehensive Income (13.15) 4.99 16.02 (15.99) 45.52
11.Total comprehensive income for the period (9+10) 901.93 639.97 365.50 2,655.50 2,009.21
12. Paid-up equity share capital (face value of Rs. 10/-each) 1,102.50 1,102.50 1,102.50 1,102.50 1,102.50
13. Other Equity (excluding revaluation reserve) - - - 34,457.54 31,912.29
14. Earning per equity share of Rs. 10/- each (Not annualised)          
a) Basic 8.30 5.76 3.17 24.23 17.81
b) Diluted 8.30 5.76 3.17 24.23 17.81
           
Segment wise Revenue, Results, Assets and Liabilities for the Quarter and year ended on 31st March, 2022
Particulars Quarter Ended Year Ended
31.03.2022 31.12.2021 31.03.2021 31.03.2022 31.03.2021
Audited Unaudited Audited Audited Audited
1.Segment Revenue
a) Leather & Leather Products 12,570.18 10,968.37 11,343.95 45,138.74 38,159.33
b) Textile Products 2,742.10 2,711.64 2,969.14 10,643.62 7,863.61
Total Segment Revenue 15,312.28 13,680.01 14,313.09 55,782.36 46,022.94
Less: Inter segment revenue - - - - -
Income from Operations 15,312.28 13,680.01 14,313.09 55,782.36 46,022.94
2.Segment Results          
(Profit before finance cost and tax)          
a) Leather & Leather Products 1,012.54 931.77 368.25 3,578.31 2,735.61
b) Textile Products 316.46 283.84 251.50 850.83 727.43
Total Profit before finance cost and tax 1,329.00 1,215.61 619.75 4,429.14 3,463.04
Less: Finance Cost 143.37 330.97 195.42 796.65 971.14
Profit Before Tax 1,185.63 884.64 424.33 3,632.49 2,491.90

3. Segment Assets

         
a) Leather & Leather Products 55,514.31 55,070.12 49,363.99 55,514.31 49,363.99
b) Textile Products 8,897.66 8,831.30 8,826.44 8,897.66 8,826.44
Total 64,411.97 63,901.42 58,190.43 64,411.97 58,190.43
4. Segment Liabilities          

a) Leather & Leather Products

24,695.27 24,952.89 20,898.40 24,695.27 20,898.40

b) Textile Products

4,156.66 4,290.43 4,277.24 4,156.66 4,277.24
Total 28,851.93 29,243.32 25,175.64 28,851.93 25,175.64

5.Capital Employed

       

a) Leather & Leather Products

30,819.04 30,117.23 28,465.59 30,819.04 28,465.59

b) Textile Products

4,741.00 4,540.87 4,549.20 4,741.00 4,549.20

Total

35,560.04 34,658.10 33,014.79 35,560.04 33,014.79
           

 
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 2022. The statutory auditors have expressed an unmodified audit opinion on theses 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, 2021/2022 are balancing figures between audited figures in respect of year ended March 2021/2022 and the published year to date figures upto the nine months period ended December 2020/2021.
 
4. The company has analysed all the relevant parameters associated with the risk due to pandemic COVID-19 and is of the opinion that it will not have any material impact on the recoverability of the carrying value of its assets as at March 31,2022 and going concern assumption. The impact of the pandemic may differ from that estimated as at the date of approval of these financial results.Such changes if any, will be recognised prospectively.The company will continue to closely monitor any material changes to future economic conditions.
 
5. 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.
 
6. Tax Expense (Current tax) for the quarter/year ended 31st March 2022 is net of Income tax adjustments relating to earlier years amounting to Rs. 10.61 Lacs.
 
7. The company has further acquired 2.42 % Equity ownership in Creemos International Limited, the associate during the year. It has resulted in Associate becoming Subsidiary with effect from 29.12.2021 (holding 51.05% Ownership).
 
8. The Board of Director have recommended Dividend @ % (i.e Rs. per Share) on the equity share capital for the financial year ended March 31, 2022.
 
9. 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: 30.05.2022
Place - Unnao
Mohammad Shadab          
Dy. Managing Director         
DIN - 00098221               
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