Capitaline

Results 09-Nov-23

Analysis

Mayur Uniquoters

PBT up 22%

Consolidated net sales (including other operating income) of Mayur Uniquoters has declined 0.57% to Rs 202.89 crore. Operating profit margin has jumped from 16.93% to 21.07%, leading to 23.73% rise in operating profit to Rs 42.75 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 61.41% to 54.74%. Employee cost increased from 5.07% to 5.86%. Other expenses rose from 16.48% to 17.41%.

Other income rose 28.53% to Rs 7.93 crore. PBIDT rose 24.46% to Rs 50.68 crore. Provision for interest rose 25% to Rs 0.65 crore.

PBDT rose 24.45% to Rs 50.03 crore. Provision for depreciation rose 43.25% to Rs 7.32 crore.

Profit before tax grew 21.72% to Rs 42.71 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 10.29 crore, compared to Rs 7.92 crore. Effective tax rate was 24.09% compared to 22.57%.

Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 19.32% to Rs 32.42 crore.

Equity capital stood at Rs 21.98 crore as of 30 September 2023 to Rs 21.98 crore as of 30 September 2022. Per share face Value remained same at Rs 5.00.

Promoters’ stake was 58.52% as of 30 September 2023 ,compared to 59.11% as of 30 September 2022 .

For year-to-date (YTD) results analysis

Net sales (including other operating income) of Mayur Uniquoters has declined 0.17% to Rs 403.83 crore.

Operating profit margin has jumped from 17.15% to 20.35%, leading to 18.44% rise in operating profit to Rs 82.16 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 61.53% to 56.42%. Employee cost increased from 4.81% to 5.63%. Other expenses rose from 16.67% to 17.24%.

Other income rose 49.44% to Rs 16.02 crore. PBIDT rose 22.59% to Rs 98.18 crore. Provision for interest rose 50.56% to Rs 1.34 crore. Loan funds declined from Rs 30.98 crore as of 30 September 2022 to Rs 20.15 crore as of 30 September 2023. Inventories rose to Rs 217.39 crore as of 30 September 2023 from Rs 201.33 crore as of 30 September 2022. Sundry debtors were lower at Rs 144.01 crore as of 30 September 2023 compared to Rs 157.46 crore as of 30 September 2022. Cash and bank balance rose to Rs 67.94 crore as of 30 September 2023 from Rs 34.54 crore as of 30 September 2022. Investments rose to Rs 151.02 crore as of 30 September 2023 from Rs 137.73 crore as of 30 September 2022 .

PBDT rose 22.27% to Rs 96.84 crore. Provision for depreciation rose 40.86% to Rs 14.41 crore. Fixed assets declined from Rs 246.20 crore as of 30 September 2022 to Rs 241.53 crore as of 30 September 2023. Intangible assets declined from Rs 0.20 crore to Rs 0.17 crore.

Profit before tax grew 19.52% to Rs 82.43 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 19.48 crore, compared to Rs 14.71 crore. Effective tax rate was 23.63% compared to 21.33%.

Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 16.02% to Rs 62.95 crore.

Equity capital stood at Rs 21.98 crore as of 30 September 2023 to Rs 21.98 crore as of 30 September 2022. Per share face Value remained same at Rs 5.00.

Promoters’ stake was 58.52% as of 30 September 2023 compared to 59.11% as of 30 September 2022 .

The scrip is currently trading at Rs 518

Mayur Uniquoters : Consolidated Results
Particulars	2309 (03)	2209 (03)	Var.(%)	2309 (06)	2209 (06)	Var.(%)	2303 (12)	2203 (12)	Var.(%)
Net Sales	202.89	204.06	-1	403.83	404.5	0	775.63	656.46	18
OPM (%)	21.1	16.9		20.3	17.1		17.9	19.1
OP	42.75	34.55	24	82.16	69.37	18	138.72	125.69	10
Other Inc.	7.93	6.17	29	16.02	10.72	49	17.74	20.36	-13
PBIDT	50.68	40.72	24	98.18	80.09	23	156.46	146.05	7
Interest	0.65	0.52	25	1.34	0.89	51	2.49	2.4	4
PBDT	50.03	40.2	24	96.84	79.2	22	153.97	143.65	7
Depreciation	7.32	5.11	43	14.41	10.23	41	22.26	20.46	9
PBT	42.71	35.09	22	82.43	68.97	20	131.71	123.19	7
Share of Profit/(Loss) from Associates	0	0		0	0		0	0
PBT before EO	42.71	35.09	22	82.43	68.97	20	131.71	123.19	7
EO Income	0	0		0	0		0	0
PBT after EO	42.71	35.09	22	82.43	68.97	20	131.71	123.19	7
Taxation	10.29	7.92	30	19.48	14.71	32	27.5	28.82	-5
PAT	32.42	27.17	19	62.95	54.26	16	104.21	94.37	10
EPS (Rs)*	#	#		#	#		23.7	21.5
Notes
* EPS is on current equity of Rs 21.98 crore, Face value of Rs 5, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database

Previous News

Mayur Uniquoters fixes record date for dividend
( Market Beat - Reports 09-Aug-23 09:22 )

Mayur Uniquoters consolidated net profit declines 28.07% in the March 2022 quarter
( Results - Announcements 31-May-22 08:12 )

Mayur Uniquoters consolidated net profit declines 6.22% in the March 2023 quarter
( Results - Announcements 20-May-23 07:31 )

Mayur Uniquoters consolidated net profit rises 93.57% in the June 2022 quarter
( Results - Announcements 08-Aug-22 17:53 )

Mayur Uniquoters to table results
( Corporate News - 02-Aug-22 12:56 )

Mayur Uniquoters consolidated net profit declines 99.08% in the June 2020 quarter
( Results - Announcements 13-Aug-20 14:55 )

Mayur Uniquoters consolidated net profit rises 16.85% in the March 2020 quarter
( Results - Announcements 30-Jun-20 08:09 )

Board of Mayur Uniquoters recommends final dividend
( Corporate News - 01-Jun-22 11:21 )

Mayur Uniquoters to hold board meeting
( Corporate News - 30-Mar-22 09:58 )

Mayur Uniquoters
( Analyst Meet / AGM - Analyst Meet 09-Feb-23 07:11 )

Board of Mayur Uniquoters recommends final dividend
( Corporate News - 02-Jul-20 19:15 )