Haryana Leather Chemicals: Mixed Results in Q3

Haryana Leather Chemicals, a microcap company in the chemicals industry, recently declared its financial results for the quarter ended September 2023. According to the data released on November 10, 2023, the company's net sales saw a growth of 3.54% compared to the previous quarter, while the standalone net profit showed a decline of 37.21%. The operating profit (PBDIT) excluding other income also saw a significant growth of 47.27% in the September quarter, as compared to a decline of 32.10% in the previous quarter. However, the interest remained unchanged, showing no growth or decline. The operating profit margin (excluding other income) also showed improvement in the September quarter, as compared to the previous quarter. Despite the flat financial performance in the September quarter, Haryana Leather's overall score has improved from 0 to 4 in the last three months. This indicates that the company is making progress in certain areas. One of the positive aspects of Haryana Leather's financials is its net sales, which have been consistently growing in the last five quarters. The company's operating profit (PBDIT) has also shown a positive trend in the near term. However, the earnings per share (EPS) have declined, indicating lower profitability for shareholders. The company's cash and cash equivalents have also decreased in the last six half-yearly periods, showing a deterioration in short-term liquidity. Overall, Haryana Leather's financial results for the September quarter show a mixed performance. While some areas have shown improvement, others have declined. It will be interesting to see how the company performs in the upcoming quarters and if it can sustain its growth in net sales and operating profit.