Net profit of Mayur Uniquoters declined 99.08% to Rs 0.09 crore in the quarter ended June 2020 as against Rs 9.74 crore during the previous quarter ended June 2019. Sales declined 69.45% to Rs 38.91 crore in the quarter ended June 2020 as against Rs 127.35 crore during the previous quarter ended June 2019.

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Mayur Uniquoters will hold a meeting of the Board of Directors of the Company on 13 August 2020.

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Mayur Uniquoters announced that the Board of Directors of the Company at its meeting held on 29 June 2020, inter alia, have recommended the final dividend of Rs 1 per equity Share (i.e. 20%) , subject to the approval of the shareholders.

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Profit before tax stood at Rs 32.81 crore in Q4 FY20, by 14.2% from Rs 28.72 crore in Q4 FY19. Current tax expense rose 7.1% YoY to Rs 9.82 crore during the quarter.

The company said its operations were impacted due to shutdown of all plants and offices following nationwide lockdown. The company has resumed operations in a phased manner as per directives from the Government of India.

The impact assessment of COVID-19 is a continuing process given the uncertainties associated with its nature and duration and accordingly the impact may be different from that estimated as at the date of approval of these financial statements. The company will continue to monitor any material changes to future economic conditions, the company said.

Mayur Uniquoters manufactures and exports various types of PU leather, PVC leather and synthetic leather. The company's consumers consist of the furniture, automotive industries, footwear, apparel, luggage, sports goods, upholstery and leather goods industry.

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