Mayur Uniquoters conducted conference call on 09 November 2023 to discuss the financial results and performance of the company for the quarter ended September 2023. Mr. Suresh Kumar Poddar - Chairman & Managing Director and Mr. Vinod Kumar Sharma – CFO of the company addressed the call

Highlights of the Concall

• The company endeavor is to make the company a preferred supplier for the leading OEMs both in domestic and international markets, especially in U.S. and European regions

• The company has been selected and received good and confirmed orders for the upcoming new models in export and domestic market and looking to current situation, its OEM export sell is expected to have a good increase in 3 years. For this supply for some of the new models have already started, and some models are expected to start in coming quarters of this and coming financial year. Henceforth, it is hoping a very good performance in next 3 financial years

• Few plants were closed in US due to labour strikes which started in September 2023. Labour strike has ended few days back and now plants are open. The company suffered lower OEM export sales of about 20-25% due to strike.

• The company sold 2 lakh meters of PU in Q2FY24. The company sold about 1 lakh meter of PU in October 2023. The company expects to sell another 75000 meter of PU in November 2023 due to diwali holidays.

• The company is giving samples of PU to MNC for approval and it is very much optimistic about this busniess.

• The government directive to footwear manufacturer has to supply the materials with BIS standard has been given extension till December 2023. And they want to clear their existing stock to start BIS standard. The government has given them time up to December. But by December, they have to clear all the stock and to start BIS. So for that, people are reducing their stock standard. Business was down by about 20% due to BIS directive.

• The company sales have grown 40% in auto replacement market and 12-13% in domestic auto OEM.

• The company is optimistic about growth in sales in H2FY24 led by auto OEM with more supply in orders from new models.

• Total volume was flat at 70 lakh meters in Q2FY24 compared to Q2FY23.

• The company expects revenue of Rs 850 crore in FY24

• The company expects double digit revenue growth from FY25 for next 2-3 years