Mayur Uniquoters Q1 concall highlights –
Financial outcomes (YoY)-
Sales -201 vs 220 cr
EBITDA -39 vs 35 cr (margins @ 20 vs 17 pc)
PAT -31 vs 27 cr
Company has been selected by global OEMs and has received confirmed new orders for next 3 yrs for exports and domestic mkts
Export mkts were subdued in Q1. Expect them to pick up from Q2 onwards. Company expects automotive exports of 225 cr in FY 24 vs 157 cr LY !!
Company expects auto export sales to reach 550-600 cr by FY 26 – based on the order pipeline that the company has received
For FY 25, expect auto exports to be around 400 cr
Most orders are from – BMW, Mercedes
Auto exports to really pick up from Q3 FY 23
Have appointed over 300 dealers to sell their fabric in domestic mkt. Response is encouraging. Sales are improving MoM
Since its a B2C business, margins are much better
Footwear sales are a little soft at the moment
2-3 MNCs like Zara visited company’s polyurethane facility. They are liking company’s product quality. Hopeful of converting them into orders by next FY
Expect a topline growth of 10-12 pc this yr & then a 18-20 CAGR for the next 3 yrs on the topline. Plus the margins are also likely to expand
Q1 exports stood at 66 cr. Out of this,46 cr were for auto-OEMs
Segment wise revenue breakup-
20 cr- Export- general
24 cr- Export- OEMs
44 cr – Domestic – OEMs
26 cr – Replacement sales
48 cr – Footwear Industry
6 cr – Furnishings
Domestic auto OEM demand continues to be healthy
Disc: holding from 480 levels, looking to add more
My take – Business momentum should pick up latest by Q3
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