Mayur Uniquoters

Mayur Uniquoters conducted conference call on 08 February 2023 to discuss the financial results and performance of the company for the quarter ended Dec'22. 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 has been selected for several upcoming SKU models in exports and domestic markets in OEM sector for which supply is expected to start in the years FY24 and 'Fy25. So it is hoping a very good performance especially in coming next 2 years.

• Footwear segment was little down because during November and December as from November to January, 3 months are the winter season, and in the winter season, the chappals are sold less, only closed shoes are sold. and these closed shoes are made with generally with leather.

• Domestic OEM during the quarter was Rs 40 crore compared to Rs 42 crore in previous quarter as OEM keep low inventory during new year because people want to buy a new model in new year.

• Volume was down by 12.6% to 64 lakh meter during the quarter compared to 75 lakh meter during the previous quarter

• Margin has improved during the quarter due to decrease in raw material prices and increase in product prices. The company on an average has increased product prices by Rs 6 per meter.

• PU mostly goes into footwear and leather business which is down in winter. So from Q4 PU business will increase.

• Mercedes onthly run rate is about 30000-35000 meters and Hyundai is about 30000-35000 meters per month. BMW monthly run rate is 3000-4000 meters as it was going to Thailand only. Now they have approved for South Africa. So in next 3 months, it will also start 15,000 meters, and it will go in 6 months time up to 30,000 meters.

• The company is very much optimistic about auto OEMs export and has got many models order. The company expects volume to double in FY24 from FY23 and increase by another 50% in FY25 for auto OEM exports. Profitability is also higher in auto OEMs export.

• The company plans to make 1000 dealers in 2023.

• The company is very much optimistic about PU business as it is replacing leather. Currently PU volumes is about 7000-10000 meters which is expected to ramp up after 6 months.

• The company targets to reach revenue of Rs 1000 crore in FY24.

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