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Results
08-Feb-24
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Analysis
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Mayur Uniquoters
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NP up 3%
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Mayur Uniquoters consolidated net sales increased 0.21% to Rs 178.26 crore
in Q3FY24 compared to Q3FY23. Operating profit margin has jumped from 19.17% to
19.84%, leading to 3.72% rise in operating profit to Rs 35.37 crore. Raw material cost as a % of total sales (net
of stock adjustments) decreased from 58.23% to 55.49%. Employee cost increased from 5.85% to
5.97%. Other expenses rose from 17.11%
to 17.34%.
Other income rose 76.11% to Rs 9.14 crore.
PBIDT rose 13.29% to Rs 44.51 crore.
Provision for interest fell 1.69% to Rs 0.58 crore.
PBDT rose 13.51% to Rs 43.93 crore.
Provision for depreciation rose 41.48% to Rs 7.47 crore.
Profit before tax grew 9.10% to Rs 36.46 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense
of Rs 9.16 crore, compared to Rs 6.86 crore.
Effective tax rate was 25.12% compared to 20.53%.
Minority interest was nil in both the periods. Net profit attributable to owners of the
company increased 2.79% to Rs 27.30 crore.
Promoters’ stake was 58.52% as of 31 December 2023 ,compared to 59.11% as
of 31 December 2022 .
For year-to-date (YTD)
results analysis
Net sales (including other operating income) of Mayur Uniquoters has
declined 0.05% to Rs 582.09 crore.
Operating profit margin has jumped from 17.77% to 20.19%, leading to 13.58%
rise in operating profit to Rs 117.53 crore.
Raw material cost as a % of total sales (net of stock adjustments)
decreased from 60.52% to 56.13%.
Employee cost increased from 5.13% to 5.74%. Other expenses rose from 16.81% to
17.27%.
Other income rose 58.14% to Rs 25.16 crore.
PBIDT rose 19.52% to Rs 142.69 crore.
Provision for interest rose 29.73% to Rs 1.92 crore.
PBDT rose 19.39% to Rs 140.77 crore.
Provision for depreciation rose 41.07% to Rs 21.88 crore.
Profit before tax grew 16.10% to Rs 118.89 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense
of Rs 28.64 crore, compared to Rs 21.58 crore.
Effective tax rate was 24.09% compared to 21.07%.
Minority interest was nil in both the periods. Net profit attributable to owners of the
company increased 11.67% to Rs 90.25 crore.
Promoters’ stake was 58.52% as of 31 December 2023 compared to 59.11% as of
31 December 2022.
The scrip is currently trading at Rs 558
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Mayur Uniquoters : Consolidated
Results
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Particulars
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2312 (03)
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2212 (03)
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Var.(%)
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2312 (09)
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2212 (09)
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Var.(%)
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2303 (12)
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2203 (12)
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Var.(%)
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Net Sales
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178.26
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177.89
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0
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582.09
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582.39
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0
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775.63
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656.46
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18
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OPM (%)
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19.8
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19.2
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20.2
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17.8
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17.9
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19.1
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OP
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35.37
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34.1
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4
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117.53
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103.48
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14
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138.72
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125.69
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10
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Other Inc.
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9.14
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5.19
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76
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25.16
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15.91
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58
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17.74
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20.36
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-13
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PBIDT
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44.51
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39.29
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13
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142.69
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119.39
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20
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156.46
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146.05
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7
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Interest
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0.58
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0.59
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-2
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1.92
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1.48
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30
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2.49
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2.4
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4
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PBDT
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43.93
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38.7
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14
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140.77
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117.91
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19
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153.97
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143.65
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7
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Depreciation
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7.47
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5.28
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41
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21.88
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15.51
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41
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22.26
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20.46
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9
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PBT
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36.46
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33.42
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9
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118.89
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102.4
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16
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131.71
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123.19
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7
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Share of Profit/(Loss) from Associates
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0
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0
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0
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0
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0
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0
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PBT before EO
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36.46
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33.42
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9
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118.89
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102.4
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16
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131.71
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123.19
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7
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EO Income
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0
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0
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0
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0
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0
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0
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PBT after EO
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36.46
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33.42
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9
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118.89
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102.4
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16
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131.71
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123.19
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7
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Taxation
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9.16
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6.86
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34
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28.64
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21.58
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33
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27.5
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28.82
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-5
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PAT
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27.3
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26.56
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3
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90.25
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80.82
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12
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104.21
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94.37
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10
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EPS (Rs)*
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#
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#
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#
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#
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23.7
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21.5
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Notes
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* EPS is on current equity of Rs 21.98 crore, Face value of Rs
5, Excluding extraordinary items.
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# EPS is not annualised
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bps : Basis points
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EO : Extraordinary items
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Figures in Rs crore
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Source: Capitaline Corporate Database
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