Sreeleathers Ltd

About [ edit ]

Sreeleathers is engaged in Footwear Wholesale and Footwear Retail, Leather Goods and Accessories.

  • Market Cap 331 Cr.
  • Current Price 143
  • High / Low 170 / 108
  • Stock P/E 27.3
  • Book Value 144
  • Dividend Yield 0.00 %
  • ROCE 12.8 %
  • ROE 9.38 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.99 times its book value
  • Company has delivered good profit growth of 31.23% CAGR over last 5 years
  • Promoter holding has increased by 3.48% over last quarter.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 9.13% for last 3 years.
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Quarterly Results

Figures in Rs. Crores

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
33.57 38.56 48.58 42.51 38.00 43.00 52.56 42.58 34.91 3.26 13.91 32.55
24.64 30.81 36.89 33.09 29.23 32.37 40.23 33.33 27.27 3.89 11.17 25.29
Operating Profit 8.93 7.75 11.69 9.42 8.77 10.63 12.33 9.25 7.64 -0.63 2.74 7.26
OPM % 26.60% 20.10% 24.06% 22.16% 23.08% 24.72% 23.46% 21.72% 21.88% -19.33% 19.70% 22.30%
Other Income 0.24 0.10 7.67 2.14 -2.03 0.05 0.09 0.10 0.07 0.04 0.06 0.16
Interest 0.04 0.03 0.03 0.03 0.04 0.05 0.02 0.01 0.02 0.00 0.00 0.00
Depreciation 0.32 0.32 0.30 0.28 0.28 0.25 0.25 0.25 0.25 0.25 0.24 0.23
Profit before tax 8.81 7.50 19.03 11.25 6.42 10.38 12.15 9.09 7.44 -0.84 2.56 7.19
Tax % 34.73% 30.00% 28.11% 28.09% 36.92% 29.67% 23.46% 26.84% 25.40% 4.76% 21.48% 25.59%
Net Profit 5.75 5.26 13.68 8.09 4.05 7.30 9.30 6.65 5.55 -0.80 2.00 5.35
EPS in Rs 2.29 2.09 5.44 3.22 1.61 2.90 3.70 2.64 2.21 -0.32 0.80 2.13

Profit & Loss

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
22 32 40 44 53 57 67 80 100 141 168 173 85
22 28 34 37 43 46 54 64 79 109 130 133 68
Operating Profit 0 4 6 7 10 11 13 16 21 32 38 40 17
OPM % 2% 13% 14% 17% 19% 19% 19% 20% 21% 23% 22% 23% 20%
Other Income 0 0 0 0 1 1 2 3 1 2 8 0 0
Interest 0 0 0 0 0 1 1 0 0 0 0 0 0
Depreciation 0 0 1 1 1 1 1 1 1 1 1 1 1
Profit before tax 0 4 6 7 11 10 12 17 21 33 44 39 16
Tax % 41% 36% 34% 34% 31% 33% 32% 35% 35% 34% 30% 26%
Net Profit 0 3 4 5 7 7 8 11 13 21 31 29 12
EPS in Rs 2.93 2.81 3.36 4.49 5.33 8.50 12.36 11.43 4.82
Dividend Payout % 97% 20% 34% 11% 9% 9% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:18%
5 Years:21%
3 Years:20%
TTM:-52%
Compounded Profit Growth
10 Years:27%
5 Years:31%
3 Years:31%
TTM:-56%
Stock Price CAGR
10 Years:%
5 Years:-1%
3 Years:-20%
1 Year:25%
Return on Equity
10 Years:6%
5 Years:8%
3 Years:9%
Last Year:9%

Balance Sheet

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
25 25 25 25 25 25 25 25 25 25 25 25 25
Reserves 141 143 145 149 156 162 171 182 204 230 264 299 309
Borrowings 1 0 0 0 0 0 0 3 3 1 1 0 0
6 6 10 7 9 21 11 12 15 32 26 24 24
Total Liabilities 173 174 180 182 190 208 207 222 247 288 317 348 358
157 157 159 158 158 157 160 159 158 157 151 150 150
CWIP 0 0 0 3 4 4 0 0 0 0 0 0 0
Investments 4 7 6 6 12 30 29 28 64 77 130 167 176
11 10 15 14 16 17 17 35 25 55 36 31 32
Total Assets 173 174 180 182 190 208 207 222 247 288 317 348 358

Cash Flows

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
6 1 6 7 20 -1 9 14 28 15 29
-1 -3 -4 -5 -18 3 -6 -16 -4 -32 -34
-3 -1 -1 -1 -2 -2 -0 -0 -0 -2 0
Net Cash Flow 1 -3 1 1 -0 -0 2 -2 24 -18 -5

Ratios

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 0% 2% 3% 4% 6% 6% 6% 8% 9% 13% 14% 13%
Debtor Days 15 8 20 21 19 15 3 1 3 1 1 1
Inventory Turnover 10.68 10.57 8.44 8.34 10.15 9.41 8.60 7.66 7.91 9.99 9.62 8.50

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
64.55 64.55 64.94 64.94 64.94 64.94 65.85 66.37 66.54 66.54 68.69 72.17
0.04 1.63 2.37 2.85 2.85 2.88 2.88 2.88 2.88 2.91 3.16 3.32
0.09 0.01 0.01 0.00 0.00 0.04 0.14 0.13 0.15 0.20 0.20 0.21
35.32 33.81 32.68 32.21 32.21 32.14 31.14 30.62 30.42 30.35 27.96 24.31

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