Conference Call Details
• Date: August 12, 2024
• Event: Q1 FY '25 Earnings Conference Call
• Participants: Chairman Suresh Poddar, CFO Vinod Sharma
Financial Performance Highlights
• Consolidated revenue: INR 213.19 crores (6% YoY increase)
• Profit Before Tax (PBT): Up by 29%
• Profit After Tax (PAT): Up by 22%
Strategic Initiatives
• Expansion of OEM exports in the US and Europe
• Establishment of a warehouse and manufacturing facility in Mexico
• Launch of trading activities in Europe via a new subsidiary in Lithuania
• Emphasis on corporate social responsibility (education and health care programs)
Key Inquiries and Responses
• BMW Order: Production started; full order of 35,000 meters expected by October/November.
• Domestic Auto OEM Outlook: Optimism expressed; Mayur supplies to all manufacturers in India.
• Margin Expansion: Attributed to strong export business, improved product mix, and cost reduction.
• PU Business: Good export opportunities noted; backward integration not currently feasible.
• Capex Plans: INR 200 crores planned for a new plant in Mexico with a capacity of 6 million meters.
• PVC Price Impact: Confirmed a 5% increase in PVC prices.
Market Insights
• Sustainability of Margins: Challenging to predict; strategic purchasing and efficiency improvements emphasized.
• Revenue Breakdown: Exports constituted 35% and domestic sales 65% of Q1 2024 revenue.
• Future Growth: Minimum of 15% growth in exports anticipated, contingent on market conditions.
Additional Discussions
• Marine Business Growth: Gradual increases noted in marine exports.
• Footwear Industry Potential: Need for a shift towards non-leather products emphasized.
• Volume Metrics: Current quarter's volume slightly up at 71.31 lakh square meters compared to 70.41 lakh square meters last year.
• PU Plant Losses: Attributed to fixed costs; management remains optimistic about future growth.
Conclusion
• The call concluded with gratitude to participants, emphasizing the company's commitment to global opportunities and profitability.

Conference Call Details
• Date: May 22, 2024
• Submission to: BSE and NSE
• Key Participants:
• Suresh Kumar Poddar (Chairman)
• Vinod Sharma (CFO)
Financial Performance Highlights
• Revenue Growth:
• 24% increase in consolidated revenue to INR 220.89 crores
• Profit Growth:
• Profit Before Tax (PBT): +10%
• Profit After Tax (PAT): +18%
• Export OEM Growth Projection:
• Expected growth of 20-25% for the coming year
Strategic Initiatives
• Expansion Plans:
• Focus on OEM exports in the US and Europe
• Establishing warehousing in Mexico and a subsidiary in Lithuania
• Corporate Social Responsibility:
• Emphasis on CSR initiatives
Sector Insights
• Footwear Sector:
• Annual figures down; limited growth expected due to competition
• Focus on partnerships with global brands for future growth
• Automotive Sector:
• Gradual growth anticipated; new orders expected quarterly
• Challenges in securing automotive industry orders discussed
Operational Updates
• Investment Plans:
• INR 30 crores allocated for warehousing and manufacturing in the U.S.
• Production Capacity:
• Current spare capacity around 25%
• PU Plant Utilization:
• Strong demand but customs issues affecting competitiveness
Market Dynamics
• Export OEM Revenues:
• Reported INR 168 crores for FY '24, with a goal to triple in three years
• Challenges in New Markets:
• Time required for customers to assess quality and reliability
Future Projections
• Revenue Expectations for FY '25:
• Top line growth: 20-25%
• Bottom line growth: 10-15%
• Market Conditions:
• Projections contingent on favorable market dynamics
Conclusion
• Management's Outlook:
• Confidence in future performance despite market unpredictability
• Investor Engagement:
• Acknowledgment of valuable insights from investor expectations
Closing Remarks
• Suresh Poddar expressed gratitude for participation and emphasized commitment to improvement.

Financial Performance
• Q3 FY24 Results:
• Standalone revenue: Rs. 175 crores (4% decrease from previous quarter)
• Profit Before Tax (PBT) and Profit After Tax (PAT): 3% increase
• Consolidated revenue: Rs. 178 crores
Management Insights
• Future Growth:
• Optimism for increased export sales from OEMs in the US and Europe.
• Anticipation of gradual growth in FY25, with significant results expected in FY26.
• Challenges:
• Impact of new safety regulations on the automotive replacement market.
• Fixed-price contracts affected by rising trade costs, particularly sea freight.
Pricing and Market Conditions
• Pricing Strategy:
• No increase in sale prices leading to decreased realization per meter.
• Focus on managing costs amidst tight market conditions.
• Market Volatility:
• Concerns about competition in the footwear sector and market pricing pressures.
• Emphasis on maintaining profitability over merely increasing sales volume.
Diversification and Expansion
• New Ventures:
• Diversification into marine products and retail furnishing business.
• Building relationships with global brands like Zara for long-term contracts.
• Sector Expansion:
• Expansion into automotive, footwear, and furnishing sectors.
• Strategy to reduce reliance on a single client (Maruti) to mitigate risks.
Domestic Market Outlook
• Sales Performance:
• 12% increase in domestic sales and 27% rise in exports.
• Anticipation of stabilization in the replacement market linked to new airbag regulations.
• Regulatory Impact:
• Introduction of BIS regulations expected to enhance domestic market conditions.
Conclusion
• Commitment to Quality:
• Focus on maintaining high-quality standards despite rising costs.
• Confidence in long-term profitability and growth through investments and strong marketing efforts.
• Customer Engagement:
• Appreciation for customer feedback and commitment to maintaining market leadership.

Conference Call Details
• Date: November 9, 2023
• Submission to BSE and NSE: November 14, 2023
• Key Management: Chairman Suresh Poddar, CFO Vinod Sharma
Financial Performance
• Consolidated Revenue: INR 202.89 crores
• 1% increase in revenue
• 8% rise in Profit Before Tax (PBT) to INR 42.71 crores
• 6% increase in Profit After Tax (PAT) to INR 32.42 crores
Market Expansion and Challenges
• Focus on expanding market presence in the U.S. and Europe
• Positive outlook for OEM exports
• Challenges:
• Temporary labor strike in the U.S. automotive sector (resolved)
• Impact of new BIS regulations on footwear sales
Sales Mix Insights
• Auto Export: 20% decline
• Auto OEM: 12% increase
• Auto Replacement: 40% rise
• Optimism for recovering production losses in the next six months
• Expectation of double-digit growth in auto exports for FY 2024
Footwear Market Concerns
• Decline attributed to regulatory issues (BIS)
• Anticipated improvement starting early 2024
Revenue Guidance and Margin Sustainability
• Initial revenue target: INR 900 crores; revised to INR 850 crores
• Focus on maintaining margins despite market fluctuations
• Expectation of double-digit growth overall
Inventory and Pricing Strategies
• Current inventory levels in the U.S. and South Africa discussed
• Subsidiary sales contributed INR 20 crores to overall sales
• Gradual increase in inventory to meet demand
• Price adjustments made in footwear due to lower raw material prices
Future Growth and Orders
• New orders from OEMs like Ford and BMW confirmed
• Export orders secured totaling 1.25 lakh meters, starting next month
• Growth potential in automotive, furnishing, and footwear sectors
• Anticipated significant results by 2024-25
Conclusion
• Management expressed confidence in future growth and strategic initiatives
• Call concluded with thanks from the moderator and Vinod Sharma

Conference Call Overview
• Date: May 23, 2023
• Key Executives: Chairman Suresh Poddar, CFO Vinod Sharma
• Focus: Financial results for Q4 and FY 2023
Financial Performance
• Q4 FY '23 Results:
• Standalone Revenue: INR 199 crores (17% increase)
• Profit Before Tax (PBT) and Profit After Tax (PAT): 5% increase
• Consolidated Revenue: INR 193.24 crores (9% increase)
• PBT and PAT: 12% decrease
Strategic Initiatives
• Export Business:
• Focus on enhancing OEM sector exports
• Current OEM export business: INR 142.30 crores
• Anticipated growth from new orders (Mercedes, Ford)
• Corporate Social Responsibility:
• Initiatives launched to support community engagement
Market Challenges
• Government Relations:
• Ongoing issues with anti-dumping duties on PU imports from China
• Interest from international brands in sourcing from India
• Domestic Market:
• Footwear segment faced sales decline; slight recovery noted
• 10% sales increase in footwear for FY 2022-2023; 6-7% growth expected for FY 2023-2024
Segment Performance
• Furnishing Segment:
• 60% sales increase compared to the previous year
• Expected growth of 30-40% in the next two years
Capital Expenditure and Production
• No major investments planned for the next two years
• Potential plant in Mexico under consideration
• 25% increase in PU segment production anticipated
Future Outlook
• Sales expectations: INR 900 crores for FY 2023 and INR 1,100 crores for FY 2025
• Focus on new model introductions and balancing expenses with growth
Q&A Highlights
• New Model Sales Impact:
• Confirmed orders for new models in place
• Margins from Auto OEM Exports:
• Higher margins than base business, but specific figures not disclosed
• Inventory Management:
• Expected reduction in inventory levels with improved conditions
• Expense Increases:
• 40% increase attributed to new business initiatives and marketing
Conclusion
• Overall optimism about growth in artificial leather demand, particularly in the automotive sector.

Financial Performance
• Date of Call: February 8, 2023
• Standalone Revenue: INR 170 crores (13% decrease from previous quarter)
• Profit Before Tax (PBT): Increased by 1%
• Profit After Tax (PAT): Increased by 3%
Management Focus
• Aim to become a preferred supplier for OEMs in the US and Europe.
• Ongoing Corporate Social Responsibility initiatives.
• Addressed decline in footwear segment due to seasonal factors.
Key Inquiries and Responses
• Hyundai Order: Supplying 30,000 to 35,000 meters per month.
• Gross Margins: Improvement attributed to lower raw material prices and higher sales prices.
• PU Business: Expected sales increase due to new distributor partnerships and brand approvals.
Market Outlook
• Exports: Confidence in doubling exports in the next two years.
• New Product Developments: Focus on PU and furnishing materials.
• Retail Expansion: Plans to establish 1,000 dealers across India by end of 2023.
Product Development
• New PU products for automotive, footwear, and furnishing sectors.
• Projected revenue growth to INR 1,100 to INR 1,200 crores by FY '24 and '25.
Succession Planning
• Involvement of family members in the business.
• Emphasis on quality and potential new plants in Mexico and Europe.
Export Sales
• Total export sales for the first nine months: INR 135 crores (up from INR 106 crores the previous year).
• Opportunities to increase market share in the premium automotive segment.
Future Projections
• Consistent growth expected, with a potential to surpass INR 1,000 crores in revenue for FY 2023-24.