Southern Latex Limited Reports Q1 Profit Growth, Announces Key Appointments
Southern Latex Limited, a coir sales company, reported a 95.38% increase in profit after tax for Q1 ended June 30, rising from Rs. 0.65 lakhs to Rs. 1.27 lakhs. Total income remained steady at Rs. 6.00 lakhs. The company announced several board appointments, including Ms. Ashitha K as Additional Director and CA Ms. Harshini as Internal Auditor. The 36th AGM is scheduled for September 10 via video conferencing, with book closure from September 4 to 10 and e-voting from September 7 to 9.
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Southern Latex Limited , a company specializing in coir sales, has reported a significant increase in profit for the quarter ended June 30, along with several key appointments and corporate announcements.
Financial Performance
The company's unaudited financial results for Q1 show a notable improvement in profitability:
| Particulars (Rs. in Lakhs) | Q1 | Q1 (Previous Year) | % Change |
|---|---|---|---|
| Total Income | 6.00 | 6.00 | 0.00% |
| Profit After Tax | 1.27 | 0.65 | 95.38% |
| Basic EPS (Rs.) | 0.02 | 0.01 | 88.89% |
Southern Latex Limited's total income remained steady at Rs. 6.00 lakhs for the quarter. However, the company's profit after tax nearly doubled to Rs. 1.27 lakhs, compared to Rs. 0.65 lakhs in the same quarter last year, representing a 95.38% increase. This growth in profitability is reflected in the company's earnings per share, which rose from Rs. 0.01 to Rs. 0.02.
Board Appointments and Corporate Actions
The Board of Directors, in their meeting held on August 12, made several key decisions:
Board Appointment: Ms. Ashitha K (DIN: 07233606) has been appointed as an Additional Director, Independent and Non-Executive, for a five-year term starting August 12. The Board has confirmed that Ms. Ashitha K is not disqualified from holding the office of Director and is not related to any existing Directors or Key Managerial Personnel.
Internal Auditor: CA Ms. Harshini (M.No: 279133) has been appointed as the Internal Auditor of the company.
Secretarial Auditor: M/s SPAN & Co., Company Secretaries LLP (FRN: L2016TNO09000) has been appointed as the Secretarial Auditor for a period of five consecutive years, subject to shareholder approval at the upcoming Annual General Meeting (AGM).
Annual General Meeting: The 36th AGM is scheduled for September 10, at 11:30 A.M., to be held through Video Conferencing or Other Audio Visual Means.
Book Closure and E-voting: The Register of Members and Share Transfer Books will be closed from September 4 to September 10. The record date for determining shareholder eligibility for voting at the AGM is set for September 3. E-voting will be available from September 7 to September 9.
Southern Latex Limited operates solely in the coir sales segment and has a paid-up equity capital of Rs. 73.59 lakhs. The company's financial results have been reviewed by the Audit Committee and approved by the Board of Directors, with the statutory auditors expressing an unmodified opinion on these results.
Investors and stakeholders are advised to refer to the detailed financial results and corporate announcements available on the company's website for a comprehensive understanding of Southern Latex Limited's performance and future outlook.
Historical Stock Returns for Southern Latex
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.99% | +10.34% | +66.47% | +137.85% | +46.56% | +646.71% |
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