Liberty Shoes
The company’s performance for Q2FY15, like Q1FY15, did not have that spring to the feet – it was dull and staid. Fall in overall sales left its mark on the bottomline. Exports showed a 62% (YoY) decline while domestic sales fell 25%. Net sales was down 28% at Rs.103 crore. One order from Govt institution was rescheduled to next fiscal and that order was to the tune of Rs.40 crore – this the company says is one of the reasons why performance got dented. Incidentally, this very same reason was given in Q1 too. Costs came down – from 96% of total sales to 94%.
The company ended the quarter with a net profit of Rs.1.79 crore, down 29%. In Q2, the company added 19 new showrooms, taking the total tally to 40 till end of H1. It plans to add 30-40 more before end of the fiscal. Debt as at 30th Sept stands at Rs.128 crore.