Sreeleathers Reports Q1 Revenue Growth Amid Profit Decline
Sreeleathers Ltd. reported Q1 financial results with revenue growth of 2.26% YoY to ₹498.00 crore. However, net profit declined by 37.00% to ₹29.00 crore, and EBITDA fell by 40.30% to ₹40.00 crore. EBITDA margin compressed to 7.97% from 13.72%. The company's 34th Annual General Meeting is scheduled for September 22, to be held virtually.
*this image is generated using AI for illustrative purposes only.
Sreeleathers Ltd. , a prominent footwear company, has released its financial results for the first quarter, revealing a mixed performance with revenue growth but a decline in profitability.
Revenue Growth
The company reported a revenue of ₹498.00 crore for Q1, marking a modest increase from ₹487.00 crore in the same period last year. This 2.26% year-over-year growth indicates a slight improvement in the company's top-line performance.
Profit Decline
Despite the revenue growth, Sreeleathers experienced a significant drop in profitability:
- Net profit fell to ₹29.00 crore from ₹46.00 crore year-over-year, representing a 37.00% decline.
- EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) decreased to ₹40.00 crore from ₹67.00 crore in the previous year, a 40.30% reduction.
- EBITDA margin compressed to 7.97% from 13.72% year-over-year, indicating pressure on the company's operational efficiency.
Financial Performance Overview
| Metric | Q1 Current | Q1 Previous | YoY Change |
|---|---|---|---|
| Revenue | ₹498.00 crore | ₹487.00 crore | +2.26% |
| Net Profit | ₹29.00 crore | ₹46.00 crore | -37.00% |
| EBITDA | ₹40.00 crore | ₹67.00 crore | -40.30% |
| EBITDA Margin | 7.97% | 13.72% | -5.75 pp |
The company's performance reflects a challenging operating environment, with rising costs potentially impacting profitability despite the growth in revenue.
Corporate Governance
As per the LODR data, Sreeleathers Ltd. has scheduled its 34th Annual General Meeting for September 22, to be held virtually. The company has also appointed Pawan Vani & Associates, Chartered Accountants, as the scrutinizer for the e-voting process, ensuring transparency in shareholder participation.
The board of directors reviewed and approved the unaudited standalone financial results for the quarter ended June 30, in their meeting held on August 14. These results have been subjected to a limited review by the company's statutory auditor.
Investors and stakeholders will be keenly watching Sreeleathers' performance in the coming quarters to see if the company can improve its profitability while maintaining revenue growth in the competitive footwear market.
Historical Stock Returns for Sreeleathers
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.07% | -0.22% | -3.93% | -5.66% | -8.91% | +69.08% |
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