WEBSITE BSE:526468 NSE: EURO LEDAR F Inc. Year: 1992 Industry: Leather My Bucket: Add Stock
Last updated: 10:25
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1. Business Overview
Euro Leder Fashion Ltd. operates in the leather sector in India. Based on its industry classification, the company is primarily involved in the manufacturing, processing, or trading of leather and leather products. This could encompass a range of activities from tanning raw hides and skins to producing finished leather, and potentially manufacturing leather goods such as bags, wallets, belts, footwear components, or garments. Its core business model likely involves sourcing raw materials (hides/skins), processing them, and then selling finished leather or leather products to domestic or international clients. The company makes money through sales of these leather products.
2. Key Segments / Revenue Mix
Specific revenue breakdown by segment for Euro Leder Fashion Ltd. is not publicly available. However, within the leather industry, common segments often include:
Finished Leather: Leather processed for various applications.
Leather Goods: Products like handbags, wallets, briefcases, belts.
Footwear Components: Uppers, soles, and other leather parts for shoes.
Leather Garments: Jackets, trousers, and other apparel.
Without specific data, it is difficult to ascertain the primary revenue drivers for Euro Leder Fashion Ltd.
3. Industry & Positioning
The Indian leather industry is a significant global player, characterized by a mix of organized and unorganized sectors, and a strong export orientation. India is one of the world's largest producers and exporters of leather goods, benefiting from abundant raw materials and skilled labor. The industry is fragmented, with numerous small and medium-sized enterprises alongside larger, established players. Euro Leder Fashion Ltd. is likely positioned as a small to medium-sized enterprise within this competitive landscape, serving either the domestic market or catering to export demand. Its specific market share or standing relative to larger peers is not readily ascertainable.
4. Competitive Advantage (Moat)
Given the nature of the leather industry, potential competitive advantages (moats) could include:
Specialized Processing/Tanning Expertise: Unique or highly efficient tanning processes leading to superior quality or cost efficiency.
Long-standing Buyer Relationships: Established relationships with international brands or large domestic retailers.
Economies of Scale: For larger players, cost advantages from bulk purchasing of raw materials or efficient large-scale production.
Brand Recognition: For companies producing finished goods, a strong consumer brand.
Without specific information on Euro Leder Fashion Ltd.'s operations, market share, or brand presence, it is difficult to determine if it possesses a significant, durable competitive advantage. The industry generally offers limited inherent moats for smaller players beyond operational efficiency or niche specialization.
5. Growth Drivers
Key factors that can drive growth for Euro Leder Fashion Ltd. over the next 3-5 years include:
Rising Disposable Incomes: Increased domestic consumption of leather goods and footwear in India.
Global Demand for Leather Products: Continued export opportunities driven by international fashion trends and consumer demand.
Government Initiatives: Policy support for the leather sector (e.g., Make in India, export incentives, skill development programs).
Shift from Unorganized to Organized Sector: Consolidation and formalization of the industry benefiting compliant players.
Product Diversification: Expansion into new product categories or higher-value-added items.
6. Risks
Key business risks for Euro Leder Fashion Ltd. include:
Raw Material Price Volatility: Fluctuations in the cost of hides and skins due to supply-demand dynamics, livestock diseases, or international trade policies.
Environmental Regulations: Increasing stringent environmental norms regarding tanning chemicals and waste disposal, leading to higher compliance costs.
Fashion and Consumer Trends: Rapid shifts in fashion preferences can impact demand for specific leather products or designs.
Competition from Synthetic Materials: Growing competition from alternative, often cheaper and more sustainable, synthetic leather substitutes.
Global Economic Slowdown: Reduced consumer spending and export demand during economic downturns.
Labor Costs and Availability: Rising labor costs and potential shortages of skilled labor in the manufacturing process.
Forex Fluctuations: For companies involved in exports or imports, currency volatility can impact profitability.
7. Management & Ownership
As is typical for many Indian companies, Euro Leder Fashion Ltd. is likely promoter-led. Specific details regarding the company's promoters, the experience and background of its current management team, or its precise ownership structure are not readily available in the public domain. The quality of management, their strategic vision, and corporate governance practices are crucial for the long-term success and growth of any enterprise.
8. Outlook
The outlook for Euro Leder Fashion Ltd. is balanced, reflecting the opportunities and challenges within the Indian leather industry.
Bull Case: The company could benefit from India's growing domestic market for leather goods, increasing global demand for quality leather products, and government support for the sector. Operational efficiencies, strategic export partnerships, or specialization in niche, high-value segments could drive profitability and growth.
Bear Case: The company faces significant headwinds from volatile raw material prices, stringent environmental regulations, intense competition (both domestic and international), and evolving consumer preferences towards non-leather alternatives. A global economic downturn or adverse trade policies could severely impact export-oriented revenues. Without specific insights into its operational efficiency, market positioning, or financial health, its ability to navigate these challenges remains uncertain.
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Market Cap ₹8 Cr.
Stock P/E 42.5
P/B 0.5
Current Price ₹18.5
Book Value ₹ 34.2
Face Value 10
52W High ₹26.4
Dividend Yield 0%
52W Low ₹ 15.1
Price goes above X
Price falls below X
PE goes above X
PE falls below X
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| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 9 | 7 | 9 | 3 | 4 | 5 | 5 | 5 | 9 | 5 |
| Other Income | 1 | 0 | 1 | 0 | 0 | 1 | 0 | 1 | 1 | 0 |
| Total Income | 10 | 8 | 10 | 3 | 5 | 6 | 6 | 6 | 9 | 6 |
| Total Expenditure | 9 | 7 | 9 | 3 | 4 | 6 | 5 | 5 | 9 | 5 |
| Operating Profit | 1 | 0 | 1 | 0 | 1 | 1 | 0 | 1 | 1 | 0 |
| Interest | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 |
| Profit After Tax | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 |
| Adjustments | -0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted Earnings Per Share | 0.3 | 0.2 | 0 | 0 | -0.1 | 0.1 | 0.4 | 0.1 | 0.1 | 0.1 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 50 | 62 | 80 | 83 | 79 | 61 | 38 | 36 | 41 | 33 | 18 | 24 |
| Other Income | 1 | 2 | 3 | 2 | 2 | 2 | 1 | 1 | 1 | 2 | 2 | 2 |
| Total Income | 51 | 63 | 83 | 85 | 81 | 63 | 39 | 37 | 42 | 36 | 20 | 27 |
| Total Expenditure | 50 | 61 | 80 | 82 | 78 | 61 | 37 | 35 | 39 | 33 | 18 | 24 |
| Operating Profit | 2 | 2 | 3 | 3 | 3 | 2 | 2 | 2 | 2 | 3 | 2 | 2 |
| Interest | 1 | 1 | 2 | 1 | 2 | 1 | 1 | 1 | 1 | 2 | 1 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 1 | 1 | 0 | 0 |
| Provision for Tax | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 0 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted Earnings Per Share | 0.8 | 1.2 | 1.6 | 1.8 | 1.1 | 1.2 | 0.5 | 0.8 | 1 | 0.8 | 0.5 | 0.7 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -45% | -21% | -22% | -10% |
| Operating Profit CAGR | -33% | 0% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -10% | -4% | 7% | 6% |
| ROE Average | 1% | 2% | 2% | 3% |
| ROCE Average | 5% | 5% | 5% | 7% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 10 | 11 | 12 | 12 | 13 | 13 | 13 | 14 | 14 | 14 | 15 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 3 | 1 | 1 | 2 | 1 | 2 | 6 | 2 | 2 | 1 | 1 |
| Total Current Liabilities | 16 | 24 | 33 | 40 | 39 | 37 | 29 | 29 | 37 | 32 | 25 |
| Total Liabilities | 28 | 36 | 46 | 54 | 53 | 52 | 49 | 44 | 52 | 48 | 40 |
| Fixed Assets | 2 | 2 | 11 | 13 | 15 | 15 | 16 | 15 | 15 | 15 | 14 |
| Other Non-Current Assets | 3 | 3 | 3 | 4 | 3 | 2 | 6 | 4 | 2 | 2 | 2 |
| Total Current Assets | 24 | 31 | 31 | 37 | 35 | 35 | 27 | 26 | 35 | 31 | 24 |
| Total Assets | 28 | 36 | 46 | 54 | 53 | 52 | 49 | 44 | 52 | 48 | 40 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 5 | 5 | 9 | 7 | 5 | 4 | 5 | 5 | 2 | 3 | 3 |
| Cash Flow from Operating Activities | 4 | 2 | 7 | 2 | -0 | 3 | 2 | -1 | -3 | 6 | 4 |
| Cash Flow from Investing Activities | -0 | -1 | -10 | -2 | -2 | -1 | -1 | -0 | 0 | 0 | 2 |
| Cash Flow from Financing Activities | -4 | 3 | 1 | -2 | 2 | -2 | 0 | -2 | 4 | -6 | -7 |
| Net Cash Inflow / Outflow | 0 | 4 | -2 | -2 | -1 | 1 | 0 | -3 | 1 | 1 | -1 |
| Closing Cash & Cash Equivalent | 5 | 9 | 7 | 5 | 4 | 5 | 5 | 2 | 3 | 3 | 3 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.77 | 1.16 | 1.58 | 1.82 | 1.07 | 1.23 | 0.55 | 0.78 | 0.98 | 0.78 | 0.5 |
| CEPS(Rs) | 1.32 | 2.1 | 2.36 | 2.8 | 2.28 | 2.41 | 1.86 | 2.2 | 2.29 | 1.94 | 1.47 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 28.2 | 28.11 | 29.68 | 31.5 | 32.56 | 33.78 | 34.33 | 35.11 | 36.09 | 36.88 | 37.37 |
| Core EBITDA Margin(%) | 1.03 | 1.27 | 0.29 | 1.18 | 1.29 | 0.83 | 2.89 | 2.86 | 4.06 | 1.06 | 0.02 |
| EBIT Margin(%) | 2.67 | 3.1 | 3.11 | 3.06 | 3.22 | 2.66 | 4.53 | 4.45 | 4.77 | 6.43 | 7.97 |
| Pre Tax Margin(%) | 0.96 | 1.02 | 1.2 | 1.3 | 1.24 | 1.3 | 1.06 | 1.1 | 1.27 | 1.51 | 1.17 |
| PAT Margin (%) | 0.55 | 0.73 | 0.77 | 0.86 | 0.53 | 0.78 | 0.56 | 0.84 | 0.94 | 0.92 | 1.06 |
| Cash Profit Margin (%) | 0.95 | 1.33 | 1.15 | 1.32 | 1.13 | 1.54 | 1.91 | 2.37 | 2.2 | 2.28 | 3.12 |
| ROA(%) | 0.91 | 1.41 | 1.5 | 1.43 | 0.78 | 0.92 | 0.43 | 0.65 | 0.79 | 0.61 | 0.44 |
| ROE(%) | 2.79 | 4.28 | 5.45 | 5.96 | 3.33 | 3.7 | 1.61 | 2.25 | 2.75 | 2.15 | 1.34 |
| ROCE(%) | 5.91 | 8.13 | 9.23 | 8.95 | 8.58 | 5.25 | 5.46 | 4.97 | 5.52 | 5.96 | 4.75 |
| Receivable days | 77.76 | 67.89 | 66.09 | 60.76 | 63.25 | 77.08 | 88.61 | 65.34 | 79.37 | 101.94 | 103.62 |
| Inventory Days | 41.51 | 27.16 | 18.17 | 27.74 | 38.19 | 56.35 | 108.81 | 135.1 | 140 | 184.49 | 326.81 |
| Payable days | 32.33 | 18.43 | 43.95 | 82.27 | 107.3 | 133.56 | 154.15 | 85.92 | 90.51 | 162.9 | 406.25 |
| PER(x) | 14.97 | 8.01 | 9.46 | 10.39 | 0 | 0 | 0 | 18.93 | 19.34 | 23.96 | 41.05 |
| Price/Book(x) | 0.41 | 0.33 | 0.5 | 0.6 | 0 | 0 | 0 | 0.42 | 0.53 | 0.51 | 0.55 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.2 | 0.15 | 0.19 | 0.22 | 0.23 | 0.27 | 0.47 | 0.61 | 0.7 | 0.7 | 1.02 |
| EV/Core EBITDA(x) | 6.57 | 3.96 | 5.51 | 6.24 | 6.11 | 8 | 7.96 | 10.22 | 11.6 | 8.95 | 10.21 |
| Net Sales Growth(%) | -20.57 | 22.64 | 29.98 | 2.86 | -4.29 | -22.32 | -37.83 | -5.02 | 12.27 | -18.24 | -44.7 |
| EBIT Growth(%) | -71.23 | 42.62 | 30.39 | 1.11 | 0.84 | -35.96 | 6.1 | -6.86 | 20.33 | 10.31 | -31.44 |
| PAT Growth(%) | -92.1 | 62.48 | 35.57 | 15.8 | -41.43 | 14.95 | -55.2 | 42.09 | 25.44 | -19.92 | -36.6 |
| EPS Growth(%) | -92.62 | 51.33 | 35.52 | 15.75 | -41.43 | 14.9 | -55.21 | 42.1 | 25.44 | -19.91 | -36.6 |
| Debt/Equity(x) | 1.08 | 1.35 | 1.45 | 1.28 | 1.46 | 1.33 | 1.43 | 1.35 | 1.7 | 1.34 | 0.92 |
| Current Ratio(x) | 1.51 | 1.3 | 0.94 | 0.93 | 0.92 | 0.93 | 0.91 | 0.88 | 0.96 | 0.98 | 0.98 |
| Quick Ratio(x) | 1.15 | 1.15 | 0.81 | 0.73 | 0.7 | 0.65 | 0.49 | 0.38 | 0.51 | 0.45 | 0.34 |
| Interest Cover(x) | 1.57 | 1.49 | 1.62 | 1.74 | 1.62 | 1.96 | 1.31 | 1.33 | 1.37 | 1.31 | 1.17 |
| Total Debt/Mcap(x) | 2.15 | 3.56 | 2.52 | 1.86 | 0 | 0 | 0 | 2.8 | 2.82 | 2.3 | 1.47 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 41.03 | 41.01 | 41 | 40.97 | 40.97 | 40.97 | 40.97 | 40.97 | 40.97 | 40.97 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 |
| Public | 58.57 | 58.59 | 58.6 | 58.64 | 58.64 | 58.64 | 58.64 | 58.64 | 58.64 | 58.64 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.45 | 0.45 | 0.45 | 0.45 | 0.45 | 0.45 | 0.45 | 0.45 | 0.45 | 0.45 |
* The pros and cons are machine generated.
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