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MAYUR UNIQUOTERS 2021-22 Annual Report Analysis
Mon, 4 Jul

MAYUR UNIQUOTERS has announced its results for the year ended March 2022. Let us have a look at the detailed performance review of the company during FY21-22.

MAYUR UNIQUOTERS Income Statement Analysis

  • Operating income during the year rose 28.0% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 3.4% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 19.1% in FY22 as against 23.7% in FY21.
  • Depreciation charges increased by 10.9% and finance costs decreased by 31.8% YoY, respectively.
  • Other income grew by 2.5% YoY.
  • Net profit for the year grew by 5.1% YoY.
  • Net profit margins during the year declined from 17.5% in FY21 to 14.4% in FY22.

MAYUR UNIQUOTERS Income Statement 2021-22

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Net Sales Rs m 5,127 6,565 28.0%
Other income Rs m 199 204 2.5%
Total Revenues Rs m 5,326 6,768 27.1%
Gross profit Rs m 1,216 1,257 3.4%
Depreciation Rs m 184 205 10.9%
Interest Rs m 35 24 -31.8%
Profit before tax Rs m 1,195 1,232 3.1%
Tax Rs m 298 288 -3.1%
Profit after tax Rs m 897 944 5.1%
Gross profit margin % 23.7 19.1
Effective tax rate % 24.9 23.4
Net profit margin % 17.5 14.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Read Now: We're Bullish on 2 Non-Nifty Stocks

MAYUR UNIQUOTERS Balance Sheet Analysis

  • The company's current liabilities during FY22 down at Rs 1 billion as compared to Rs 1 billion in FY21, thereby witnessing an decrease of -9.8%.
  • Long-term debt stood at Rs 199 million as compared to Rs 143 million during FY21, a growth of 39.2%.
  • Current assets rose 10% and stood at Rs 6 billion, while fixed assets rose 10% and stood at Rs 3 billion in FY22.
  • Overall, the total assets and liabilities for FY22 stood at Rs 9 billion as against Rs 8 billion during FY21, thereby witnessing a growth of 10%.

MAYUR UNIQUOTERS Balance Sheet as on March 2022

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Networth Rs m 6,232 7,072 13.5
 
Current Liabilities Rs m 1,397 1,260 -9.8
Long-term Debt Rs m 143 199 39.2
Total Liabilities Rs m 7,789 8,576 10.1
 
Current assets Rs m 5,035 5,555 10.3
Fixed Assets Rs m 2,753 3,021 9.7
Total Assets Rs m 7,789 8,576 10.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



MAYUR UNIQUOTERS Cash Flow Statement Analysis

  • MAYUR UNIQUOTERS's cash flow from operating activities (CFO) during FY22 stood at Rs 131 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY22 stood at Rs 169 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY22 stood at Rs -212 million, an improvement of 44% on a YoY basis.
  • Overall, net cash flows for the company during FY22 stood at Rs 88 million from the Rs -34 million net cash flows seen during FY21.

MAYUR UNIQUOTERS Cash Flow Statement 2021-22

Particulars No. of months 12 12 % Change
Year Ending Mar-21 Mar-22
Cash Flow from Operating Activities Rs m 545 131 -75.9%
Cash Flow from Investing Activities Rs m -202 169 -
Cash Flow from Financing Activities Rs m -377 -212 -
Net Cash Flow Rs m -34 88 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for MAYUR UNIQUOTERS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 21.2, an improvement from the EPS of Rs 20.1 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 358.5, stands at 16.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.2 times, while the price to sales ratio stands at 2.4 times.
  • The company's price to cash flow (P/CF) ratio stood at 19.1 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Sales per share (Unadj.) Rs 115.0 147.3
TTM Earnings per share Rs 20.1 21.2
Diluted earnings per share Rs 20.4 21.5
Price to Cash Flow x 16.9 19.1
TTM P/E ratio x 20.4 16.7
Price / Book Value ratio x 2.2 3.1
Market Cap Rs m 13,751 21,940
Dividends per share (Unadj.) Rs 2.0 2.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for MAYUR UNIQUOTERS

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 4.4x during FY22, from 3.6x during FY21. The current ratio measures the company's ability to pay short-term and long-term obligations.

    Interest Coverage Ratio: The company's interest coverage ratio improved and stood at 52.3x during FY22, from 34.9x during FY21. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company declined and down at 13.3% during FY22, from 14.4% during FY22. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

    Return on Capital Employed (ROCE): The ROCE for the company declined and down at 17.3% during FY22, from 19.3% during FY21. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

    Return on Assets (ROA): The ROA of the company declined and down at 11.3% during FY22, from 12.0% during FY21. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Current ratio x 3.6 4.4
Debtors’ Days Days 811 680
Interest coverage x 34.9 52.3
Debt to equity ratio x 0.0 0.0
Return on assets % 12.0 11.3
Return on equity % 14.4 13.3
Return on capital employed % 19.3 17.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how MAYUR UNIQUOTERS has performed over the last 5 years, please visit here.

MAYUR UNIQUOTERS Share Price Performance

Over the last one year, MAYUR UNIQUOTERS share price has moved down from Rs 511.6 to Rs 358.5, registering a loss of Rs 153.1 or around 29.9%.

Overall, the S&P BSE SENSEX is up 1.1% over the year.

(To know more, check out historical annual results for MAYUR UNIQUOTERS and quarterly results for MAYUR UNIQUOTERS)

Annual Report FAQs

What is the current share price of MAYUR UNIQUOTERS?

MAYUR UNIQUOTERS currently trades at Rs 455.8 per share. You can check out the latest share price performance of MAYUR UNIQUOTERS here...

What was the revenue of MAYUR UNIQUOTERS in FY22? How does it compare to earlier years?

The revenues of MAYUR UNIQUOTERS stood at Rs 6,768 m in FY22, which was up 27.1% compared to Rs 5,326 m reported in FY21.

MAYUR UNIQUOTERS' revenue has grown from Rs 5,720 m in FY18 to Rs 6,768 m in FY22.

Over the past 5 years, the revenue of MAYUR UNIQUOTERS has grown at a CAGR of 4.3%.

What was the net profit of MAYUR UNIQUOTERS in FY22? How does it compare to earlier years?

The net profit of MAYUR UNIQUOTERS stood at Rs 944 m in FY22, which was up 5.1% compared to Rs 897 m reported in FY21.

This compares to a net profit of Rs 798 m in FY20 and a net profit of Rs 896 m in FY19.

Over the past 5 years, MAYUR UNIQUOTERS net profit has grown at a CAGR of -0.7%.

What does the cash flow statement of MAYUR UNIQUOTERS reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of MAYUR UNIQUOTERS reveals:

  • Cash flow from operations decreased in FY22 and stood at Rs 131 m as compared to Rs 545 m in FY21.
  • Cash flow from investments increased in FY22 and stood at Rs 169 m as compared to Rs -202 m in FY21.
  • Cash flow from financial activity increased in FY22 and stood at Rs -212 m as compared to Rs -377 m in FY21.

Here's the cash flow statement of MAYUR UNIQUOTERS for the past 5 years.

(Rs m)FY18FY19FY20FY21FY22
From Operations868627632545131
From Investments-299-675-479-202169
From Financial Activity-497-34-67-377-212
Net Cashflow72-8388-3488

What does the Key Ratio analysis of MAYUR UNIQUOTERS reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of MAYUR UNIQUOTERS reveals:

  • Operating profit margins witnessed a fall and stood at 19.1% in FY22 as against 23.7% in FY21.
  • Net profit margins declined from 17.5% in FY21 to 14.4% in FY22.
  • Debt to Equity ratio for FY22 stood at 0.0 as compared to 0.0 in FY21.

Here's the ratio/financial analysis of MAYUR UNIQUOTERS for the past 5 years.

 FY18FY19FY20FY21FY22
Operating Profit Margin (%)26.821.819.723.719.1
Net Profit Margin (%)17.415.215.117.514.4
Debt to Equity Ratio (x)0.00.00.00.00.0

Read: Latest Annual Report Analysis of MAYUR UNIQUOTERS

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