AR23 notes
Customers:
- Foreign: Chrysler, Ford and Mercedes Benz, BMW
- India: Honda, Maruti, MG Hector, Mahindra Tata, Nissan, Toyota, Kia, Hyundai
- Auto: BMW, Mercedes Benz, Chrysler, Ford, Hyundai, MG, KIA, Maruti Suzuki, Tata, Toyota, Mahindra & Mahindra, ISUZU, Suzuki, Honda, Renault, Skoda/Volkswagen, Stellantis, Hero, Bajaj, Royal Enfield, TVS, Piaggio, Sonalika Tractor, Lear, TS Tech Sun, Bharat Seat, Krishna Maruti, Sharda Motors, S.I. Interpact Group, Swaraj Auto, Polor Auto etc.
- Footwear: Bata, Paragon, Lancer, Action, Relaxo, VKC Group etc.
- Exports to 21 countries (US, UK, South Africa, China, European Countries)
Revenue breakup:
Miscellaneous
- Entered into furnishing business through wholly owned subsidiary Mayur Tecfab Private Limited under the brand name “TEXTURE AND HUES”
- Will expanding dealer network to 1000 dealers (vs 350 in FY23) across India
- R&D: 4.82 cr. (vs 8.5 cr. in FY22). 28.7 lakhs was capitalized (vs 2.1 cr. in FY22)
- Foreign exchange outgo: 350.35 cr.
- Permanent employees: 497
- Average increase in remuneration of all employees excluding KMP was 3.46% and average increase for KMP was (-5.57%)
- Manufactures 400+ variants of artificial leather from PVC polymer which finds application in footwear (shoes/sandals insole and uppers), automotive (seat upholstery and inner linings), furniture & fashion items (apparel) and leather goods
- Installed a solar panel with capacity of 118 Kwp at Dhodsar plant. Also working towards installing a rooftop solar system at the Dhodsar main plant, estimated to have a capacity of 445 Kwp, as well as a Flame Lamination plant with an estimated capacity of 40 Kwp.
- Large increase in other expenses: 133.67 cr. (vs 98.75 cr. in FY22). Largest increase was from power & fuel and freight costs
- Following TPM, TQM and lean management to improve efficiency
- Share price: 319.2 (low), 547.15 (high)
- Shareholders: 33’148
- Audit fee: 39.8 lakhs
- Awarded the Best Employer-2022 award by The Employer’s Association of Rajasthan
Subsidiary financials
Industry
- Market size of synthetic leather was $36.17 bn in 2022, with projected growth rate of 6.4% from 2023 to 2030
- PU synthetic leather segment account for 55% of synthetic leather market
- Footwear segment accounted for 30%+ of global synthetic leader market
Disclosure: same as before
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