Mayur Leather Products Ltd

Mayur Leather Products Ltd

₹ 6.73 4.99%
01 Jan 2024
About

Incorporated in 1987, Mayur Leather Products Limited is engaged in manufacturing and export of leather shoe and shoe uppers.

Key Points

Product Profile:[1]
Army Long Boots, Low Ankle Safety Shoes, High Ankle Safety Shoes, High Ankle Rubber Sole Safety Shoes, PU High Ankle Safety Shoes, PU Low Ankle Safety Shoes, Police and Army Oxfords, Rubber Sole Safety Boots, Low Ankle Rubber Sole Safety Shoes, PU Female Safety Shoes, Safety Shoe With Tongue Cover, Police and Army High Ankle Shoes, Women's Safety Shoes, School Shoes

  • Market Cap 3.25 Cr.
  • Current Price 6.73
  • High / Low 7.92 / 4.75
  • Stock P/E
  • Book Value 8.96
  • Dividend Yield 0.00 %
  • ROCE -4.63 %
  • ROE -20.6 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Stock is trading at 0.75 times its book value
  • Company's working capital requirements have reduced from 231 days to 91.7 days

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -17.3% over past five years.
  • Company has a low return on equity of -36.5% over last 3 years.
  • Debtor days have increased from 54.3 to 70.1 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
2.49 2.85 2.31 2.01 0.77 1.96 1.90 3.60 1.94 1.47 2.49 3.37 0.91
2.69 3.90 3.04 4.10 1.95 2.56 2.36 3.20 1.89 2.07 2.97 2.94 1.68
Operating Profit -0.20 -1.05 -0.73 -2.09 -1.18 -0.60 -0.46 0.40 0.05 -0.60 -0.48 0.43 -0.77
OPM % -8.03% -36.84% -31.60% -103.98% -153.25% -30.61% -24.21% 11.11% 2.58% -40.82% -19.28% 12.76% -84.62%
0.37 0.36 3.03 0.37 0.23 0.13 0.21 0.10 0.15 0.13 0.38 0.07 0.28
Interest 0.18 0.16 0.38 0.11 0.07 0.10 0.10 0.12 0.10 0.10 0.13 0.17 0.14
Depreciation 0.09 0.09 0.08 0.08 0.08 0.07 0.07 0.07 0.06 0.07 0.11 0.06 0.07
Profit before tax -0.10 -0.94 1.84 -1.91 -1.10 -0.64 -0.42 0.31 0.04 -0.64 -0.34 0.27 -0.70
Tax % 0.00% 0.00% 0.00% -3.66% 0.00% 0.00% 0.00% 3.23% 0.00% 0.00% 0.00% 0.00% 0.00%
-0.10 -0.94 1.84 -1.98 -1.09 -0.65 -0.42 0.30 0.03 -0.64 -0.34 0.27 -0.70
EPS in Rs -0.21 -1.94 3.81 -4.10 -2.25 -1.34 -0.87 0.62 0.06 -1.32 -0.70 0.56 -1.45
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
18.20 21.06 21.75 23.10 28.07 32.12 24.01 18.06 12.61 9.66 8.23 9.27 8.24
19.95 20.51 20.31 21.67 27.34 32.32 26.93 21.03 15.67 13.72 10.00 9.86 9.66
Operating Profit -1.75 0.55 1.44 1.43 0.73 -0.20 -2.92 -2.97 -3.06 -4.06 -1.77 -0.59 -1.42
OPM % -9.62% 2.61% 6.62% 6.19% 2.60% -0.62% -12.16% -16.45% -24.27% -42.03% -21.51% -6.36% -17.23%
2.72 0.52 0.54 0.89 1.09 1.40 1.55 1.30 1.75 4.13 0.64 0.72 0.86
Interest 0.33 0.52 0.43 0.36 0.53 0.64 0.53 0.81 0.82 0.83 0.40 0.50 0.54
Depreciation 0.55 0.46 0.37 0.38 0.60 0.40 0.40 0.40 0.38 0.34 0.29 0.30 0.31
Profit before tax 0.09 0.09 1.18 1.58 0.69 0.16 -2.30 -2.88 -2.51 -1.10 -1.82 -0.67 -1.41
Tax % 0.00% 33.33% 43.22% 33.54% 27.54% 12.50% 2.17% -1.04% -0.40% -6.36% -0.55% 0.00%
0.09 0.05 0.68 1.05 0.49 0.15 -2.24 -2.91 -2.52 -1.17 -1.84 -0.67 -1.41
EPS in Rs 0.19 0.10 1.41 2.17 1.01 0.31 -4.63 -6.02 -5.21 -2.42 -3.81 -1.39 -2.91
Dividend Payout % 415.00% 498.00% 73.24% 47.43% 101.63% 332.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: -8%
5 Years: -17%
3 Years: -10%
TTM: -12%
Compounded Profit Growth
10 Years: %
5 Years: 10%
3 Years: 18%
TTM: -110%
Stock Price CAGR
10 Years: -9%
5 Years: -15%
3 Years: 13%
1 Year: 0%
Return on Equity
10 Years: -10%
5 Years: -31%
3 Years: -37%
Last Year: -21%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Equity Capital 4.98 4.98 4.98 4.98 4.98 4.98 4.98 4.98 4.98 4.98 4.98 4.98
Reserves 10.79 10.56 10.68 11.16 11.14 10.71 8.47 5.56 3.04 1.86 0.02 -0.65
3.43 4.33 2.94 4.70 6.85 6.99 5.82 8.93 7.50 6.80 7.14 3.41
4.73 4.21 3.72 7.37 6.63 6.41 6.39 7.38 7.11 5.54 3.70 9.24
Total Liabilities 23.93 24.08 22.32 28.21 29.60 29.09 25.66 26.85 22.63 19.18 15.84 16.98
5.25 3.95 3.95 3.53 3.52 3.29 2.44 3.54 3.22 2.15 1.92 2.89
CWIP 0.00 0.00 0.00 0.17 0.25 0.25 0.25 0.25 0.25 0.38 1.51 0.17
Investments 4.00 3.74 3.74 1.00 1.00 1.15 1.27 1.67 1.69 1.39 1.39 1.36
14.68 16.39 14.63 23.51 24.83 24.40 21.70 21.39 17.47 15.26 11.02 12.56
Total Assets 23.93 24.08 22.32 28.21 29.60 29.09 25.66 26.85 22.63 19.18 15.84 16.98

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-1.34 -1.98 1.84 -4.19 -0.47 -0.24 0.04 -2.05 1.72 -3.64 10.80 3.23
-0.05 1.51 0.29 3.43 0.43 0.70 0.85 -0.96 0.57 4.55 -10.76 0.86
1.55 0.90 -2.30 0.97 1.14 -0.91 -1.58 2.52 -2.17 -0.72 -0.22 -4.22
Net Cash Flow 0.16 0.43 -0.17 0.21 1.10 -0.45 -0.69 -0.48 0.12 0.19 -0.18 -0.13

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 82.02 87.52 53.20 95.28 59.55 60.23 65.06 94.58 47.76 37.78 54.99 70.09
Inventory Days 87.92 80.26 63.31 115.78 108.54 114.86 71.07 99.06 134.58 127.46 130.48 89.75
Days Payable 99.20 84.86 49.19 92.72 70.24 74.48 61.76 24.37 42.92 124.08 88.75 93.03
Cash Conversion Cycle 70.75 82.92 67.32 118.34 97.85 100.61 74.37 169.28 139.43 41.16 96.73 66.80
Working Capital Days 197.54 199.83 179.23 246.02 214.16 189.09 202.64 266.98 273.53 327.22 272.75 91.74
ROCE % 2.37% 3.58% 8.94% 10.70% 5.57% 3.77% -8.53% -10.79% -9.77% -19.20% -11.64% -4.63%

Shareholding Pattern

Numbers in percentages

Dec 2019Mar 2020Jun 2020Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022
64.02% 64.02% 64.02% 64.02% 64.02% 64.02% 64.02% 64.02% 64.02% 64.02% 64.02% 64.02%
0.49% 0.49% 0.49% 0.49% 0.49% 0.49% 0.49% 0.49% 0.49% 0.49% 0.49% 0.49%
35.49% 35.49% 35.49% 35.49% 35.49% 35.49% 35.49% 35.49% 35.49% 35.49% 35.49% 35.48%
No. of Shareholders 1,3371,3351,3681,3691,3701,3531,3731,4051,6521,6941,6791,799

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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