Mayur Uniquoters Ltd posts PAT of Rs 23.3 crore; Stock shines

In the third quarter of FY20, Mayur Uniquoters reported decent numbers amid a slowdown in the industry. Meanwhile, the company’s consolidated revenue for the quarter dipped by nearly 15 per cent YoY to Rs 138.62 crore.

EBITDA for the quarter declined by almost 10 per cent YoY to Rs 31 crore but EBITDA margin for the period improved by 120 bps to 22.4 per cent. This was mainly on account of lower input costs in the proportion of revenue.

Notably, profit after tax increased by 10 per cent to Rs 23.3 crore from the corresponding quarter of the previous year. This was mainly driven by the lower effective tax rate and higher other income in the current quarter.

Besides, the company has declared an interim dividend of Rs 1.5 per share.

Recently, the promoters have been marginally increasing their stake in the company. As on June 2019 quarter, the promoters’ holding was at 61.28 per cent which increased to 61.36 per cent in December 2019 ending quarter.

As a response to this result, the stock of Mayur Uniquoters surged on the bourses in today’s trading session by nearly four per cent to touch an intraday high of Rs 228 apiece