12.1% growth projection for the current year.
18.8% for exports & 10.3% from India.
http://www.mayuruniquoters.com/TotalSales.asp
With backward integration & better export mix, margin should expand by a few points atleast.
I am expecting margin to grow from 11.5% to 12.5% this yr giving it a PAT of 52.5 crs… that’s 20% bottom-line growth.
Anyone has idea of margin break-up of export & Indian markets?? That should help in getting better view of margin picture.
Shares to be split. I wonder the reason.
http://www.bseindia.com/corporates/anndet_new.aspx?newsid=ef8c5ebf-afaa-4b1d-81af-19c497cb3916
even astral shares are going to split.
i guess the reason is the new sebi regulations where if small nos of shares are traded the scrip is put in the selected category.
reducing the price of shares will increases the no. of shares being traded.
mayur has been sluggish since diwali 2012 …barely any movement
Mayur Uniquoters Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 12, 2013, inter alia, has declared First Interim Dividend of Rs. 2.25/- (i.e. 22.50%) per Equity Share of Rs. 10/- each of the Company. The said dividend will be paid on or after August 26, 2013.
Last year it was 1.50/-. There has been a 50% rise in the dividend.
Final dividend for 2012-13 @Rs.3.50 not yet credited, anybody who hv received.
I believe this will be credited after the AGM:
Mayur Uniquoters Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 23, 2013, inter alia, has recommended the payment of final dividend @ 35% i.e. Rs. 3.50/- per Equity Share of the face value of Rs. 10/- each for the year ended March 31, 2013, subject to approval by the shareholders in the ensuing Annual General Meeting.
Results announced:
Sales grew 19% YOY.
Net Profit Grew 26% YOY. EPS grew 26%.
interim dividend of 2.25/-
Good set of results.
Mayur promoters are sticking to their track record of under promise & over delivery.
AS per the latest AR Co is on the verge of getting long awaited from Mercedes ,Toyota & GM.
General exports comprising of replacement market shooting up.Auto replacement market in India on exponential growth.
General exports also increasing to Middle east, UK,Russia,Mexico.
Knitting plant operational leading to lower rejection n better margins. 5th line of 5 lac m to be commissioned by Nov 13.Another 5 lac to be done in FY 15.Growth hi Growth for time to come.
Footwear & Fashion industry growing nicely in India.
Company has pricing power albeit with a lag.
All in all company passes my test nicely of Ethical promoter with good execution track record,good size of opportunity of 5000 crores atleast ,excellent ROCE.
A beautiful compounding machine ala Lynch with a inconspicuous name.
can you share the latest annual report at
anil(dot)hogwarts @ gmail(dot)com
thanks
Anil.
You can collect the physical copy of AR from me at Delhi.Dont have soft copy.
financial charges have gone up substantially resulting in reduced net margin.
Guys
Are Bonus shares issued last year sellable now without attracting tax?
I have an account with IIFL and I sold Ajanta recently, it is shown as short term gains though I held it for much longer than an year. I think it is split date they are considering for date of acquisition and so it gets shown as short term. Any one can clarify what is the factual position?
It included the forex loss of 1.6 crores as specified in point 7 of the notes section.
Mayur Uniquoters concall
sales increased 19% to 106 crs from 89 crs.
NP increased 26% from 9.11 crs to 11.48 crs.
Debt is 6.45 crs.
Short term borrowing - 19.8crs from 16.40crs mainly on buyers credit since it is buying from U.S.
Export
=======
Growth in General increased to 136% .
Growth in Automotive increased 11%.
Exports - (General) made 5.08 crs for this qtr .
Exports - (OEM) is 15.70 crores for this qtr.
Currently exports constitue 22-23% of total sales.
Import were 37.9% for previous year. Will target to reduce this FY.
Rupee depreciation compensated by increased exports.
Got approval from GM - 5 lakh metres approved.
Mayur has become recognized player in U.S.A. strong foothold in U.S.A
Getting lot of enquires from lear, magna etc. chances of getting converted to order is high.
Domestic sales increased from 68.26 crs to 79.94 crs.
Per metre realisation increased to 210 from 206 (full year) as against 201 (june 12).
Percentage revenu share for segments
21% - export.
7% - domestic
9% - automotive replacement
footwear - 56%
rest-7%
Targeting to increase export and for this recruiting in personnel and marketing across U.S, Europe, middle east.
Bagged an order from one of the largest distributor in u.s.a - currently exporting 2lakh US dollar per qtr. This will increase substantially in 2 years.
75% kintted fabric consuming from own captive production.
Rejections have gone down by 4-5% in OEM exports.
5th line plant to be commisoned by Nov - This will increase capacity to 2.45 millon metres from 1.39 mm.
5 lakh metres additional capacity by way of 6th line in 1 year time. Machine have been ordered for this. The total capacity will increase to 2.95mm.
Currently the capacity is over utilized. Last month plant run for 29 days and this month too will run 29 days inspite of 2 national holidays and sundays.
70-71k metres produced every day - outstanding demand was 4-5 lakh metres till last month.
Outstanding demand is more than a million fromJuly. Need to check ifcompetitorsare failing because of which orders are routed to Mayur or generalup-tickin demand(the chances of it are low).
Additional 6 lac metre would generate 150 crores for the whole year.
Revenue can go up to 570 - 580 crores with the assembly and production of the fifth line(with all lines fully operational).
Targetting to acheive runrate of 110-112 crores in next 2 quarters. 4th quarter will have the benefit of additional line(5th line expected to commence production from Nov) whereby there will beincrease of revenue.
confident of growing topline 15 - 20% in coming years.
will try to maintain the bottom line.
r&d recognition. - 200% depreciation on r&D and buying of lab items.Also free of excise and customs duty for R&D items.This year expenditure planning is 1.5 crore (I assume this may increase in comingyears).
Company had increased prices by 3% this month for products.This shows that even in this tough economic situation they are able to pass on the costs to certain extent.
capex will be 30 crores for each line additionally added from hereon.
Maintained Receivables & inventory as in last year’s quarter. Not much change except for rupee depreciation in absolute terms.
Raw material to sales less this quarter.
Dollar rate was 54.75 previous quarter and 60 at the end of this quarter. outstanding with supplier has to be taken with difference. forex loss is notional loss and added in finance cost.
other expenses remain the same for full year(from Q1 last year) - except dollar fluctuations.
product mix improved. sales grew because of this.
Currently working on furnishing area(sofa sets, chairs). Received domestic orders.
Management clarified that the company Will not put all the eggs in one basket. Will never allow 30-40% to OEM export from overall export and create a dependency. Co will maintain equilibrium acrosssegments while increasing the overall exports.
In the next 3 years - export will be - 25-28% because of considerable domestic sales increase which the management expects.
Thanks Krishna for the inputs.
Do anyone have softcopy of AR not yet uploaded on Mayur site.
Has anybody received the dividend ?* did any body attended the AGM on 24 August?
Most companies take about a week post AGM to credit the dividend payment; so expecting it sometime this week. This week is my dividend week with eclerx also expected to come in 
have final dividend for 12-13 Rs.3.5 per share been credited.
it’s queer having received dividend for Q1 FY13-14 and awaiting dividend for 12-13.
meanwhile stock showing tremendous risilience.
