Hi Rudra,
The bonus stripping is still very much valid for stocks, the above rule were framed only for Mutual Funds because earlier mutual funds had started exploiting the law for their benefit and were selling their schemes for tax planning while in shares, reserves are needed in the co to do the planning.
Hence a liberal bonus is still used as a good tax planning tool especially in cos like Mayur, where one can be a long term investor comfortably 
Ayush
I agree rohit.
there are signs of beginning of froth here. how long it goes on is a thing to be seen.
typically mayur goes up to a PE of 10 times trailing EPS when there is a good dose of bullishness built in. So that level should be around 600 plus. I guess levels of 700 should be excellent to exit though I doubt we might see those levels.
Mayur is still perceived as a commoditised business with no pricing power and thats to some extent true. That has been said since the price of the stock was around 110-120 levels. And at cmp it is almost a five bagger in just under two years. It shows there is not only one way to make money by buying companies with pricing power blah blah.
And then what is the price one pays for getting companies with pricing power? PE In the range of 25-40 which leaves very little room for PE rerating.
I have read a lot of recommendations on Mayur which have come out in the last 6-12 months and probably that might induce some sort of fancy among investors. If that fancy catches on there could be surprising levels in future.
The thing going in favor for Mayur is that it seems a classic Lynch stock with high promoter holding, extremely dull name, even more boring business, progressively increasing profits and dividend , free cash flow and a very able and seemingly honest management. These things are always a recipe for multibagger stocks.
**
I agree rohit.
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stocks.
Hi Hitesh,
Liked your comments 
If one looks at identifying pricing power then 16% ebitda margin over a longer period in chemicals business does signify pricing power. In terms of reference, Asian Paints ebitda margin is also 16%.
While i do not have a thesis to explain this, i believe that there is evidence of a moat. Lets try and find out.
best
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Bonus ratio declared at 1 bonus share for every 1 share held.
AGM on 23 July.
Can someone explain how come they are creating extra 50L share on and above existing 70L share, while doing 1:1 Bonus. They should have created 70L additional share. I think I am missing some thing here.
2). Recommended the increase in the authorised share capital of the Company from Rs. 7 crores divided into 70,00,000 (Seventy Lacs) Equity Shares of Rs. 10/- (Rupees Ten) each to Rs. 12,00,00,000/- (Rupees Twelve Crore) divided into 1,20,00,000 (One Crore Twenty Lacs) Equity Shares of Rs. 10/- (Rupees Ten) each by creation of additional 50,00,000 (Fifty Lacs) equity shares of Rs. 10/- (Rupees Ten) each ranking pari passu with the existing equity shares of the Company.
2). ** each Ten) **
Co.'s existing paid-up equity is 5.4 cr. (54.13 lac shares) and so even after 1:1 bonus they require only 10.8 cr. equity and so the approval for 12 cr. equity is more than enough.
Rgds.
Anyone attended the AGM???
Kindly share meeting details. Thanks.
Any updates from the AGM?
Please share any points from the meeting.
Thanks
Does the scrip rises immediately after bonus due to sudden reduction of shares in demat ac ? As such does the scrip then falls more once the bonus shares are credited in the account?
I want to know in nutshell if Mayur scrip will come down once the bonus shares are credited in the demat ac rather then buying at current price?
When is the qtrly results being declared?
q1 fy 13 results are out and its business as usual.
the juggernaut rolls on and how…
qtr q1 fy 13 q1 fy 12 q4 fy 12
sales 86.93 68.7 87.45
op profit 13.23 9.35 16.45
net profit 9.1 6.1 11.17
eps 16.83 11.28 20.6
Dividend of Rs 1.5 per equity share ofRs 10/-. Mayur has announced bonus of 1:1 so will we be getting 1.5 for the bonus shares too. If that is so then net effect is Rs 3/- which is double the amount than the last year.
ofRs 10/-.
interesting observation. I did not think about that.
But I m not too sure about that. the ex div date for first interim div and ex bonus date are same.
dividend on shares are paid once they are deposited in your demat account. and once stock goes ex bonus usually there is a time lag of a week or two before bonus shares get deposited in account.
I too feel this is Rs 1.5 per share and not Rs 3 per share (pre-bonus). Going by the conservative nature of the management they will not double the first interim dividend.
May be the year end final bonus will be greater than last year. Anyways hoping some price correction after the ex-bonus date to add on to existing positions. Mayur is at 17% of portfolio, planning to jack up to 25%.
I think mayur results are absolutely smash hit.
Stock is up only 4-5%. Probably some mugs are comparing the figures and margins etc with q4 fy 12.
Mayur can comfortably do around 75-80 per share for fy 13.
based on that stock is still available at around 7-8 PE and that too with a company growing at 25-30% cagr, with high div payout, high promoter holding, ROE in excess of 35 and excellent prospects going forward.
agreed. if this was 2007, mayur would be quoting at a PE of 20+. remains a strong buy on any decline(if any)…
Mayur rocking 598. new life high.
More to come 
Once the knitted fabric unit gets operational inSeptember, there should be more improvement in margins and it could open aseparatemarket for mayur, who knows. Till that time we may have to see some investors complaining about quarter to quarter results and margins.
Latest i heard is BMW has approved the company’s product and price negotiations are going on. Mercedez, the follow up continues. Both may take some time.
The company would reach the next orbit if the 5th line of plant goes operational next year.
More to come Once the knitted fabric unit gets operational inSeptember, there should be more improvement in margins and it could open aseparatemarket for mayur, who knows. Till that time we may have to see some investors complaining about quarter to quarter results and margins.
Latest i heard is BMW has approved the company’s product and price negotiations are going on. Mercedez, the follow up continues. Both may take some time.
The company would reach the next orbit if the 5th line of plant goes operational next year.
delete
What happened to with Mayur touching pre bonus price of 640.Today the bonus shares arrived in demat accounts n we were expecting price to come down due to paper tax losses bookings.
What happened were these sellers trapped or is some sort of rerating on ?
Can the scrip be still be bought at current prices??
How is the co facing slowdown in exports exemplified by glacial growth in exports figures out today?
Any caveats??
