MAYURUNIQ

Mayur Uniquoters share price & financials

Price
₹785.25
Market cap
₹3.4k Cr
Sector
Consumer Durables
Calls analysed
7
Latest concall · Q1 FY27 · call held 06 Aug 2026

Mayur Uniquoters Ltd Q1 FY27

Consolidated Revenue ₹269.23 cr +25%Consolidated PAT ₹56.12 cr +38%Consolidated PBT ₹74.12 cr +35%

What went well

  • Consolidated revenue increased by 25% YoY to INR 269.23 crores.
  • Consolidated PBT increased by 35% YoY to INR 74.12 crores and PAT increased by 38% YoY to INR 56.12 crores.
  • Export OEM business showed fantastic growth, up 39-40% YoY to INR 73.56 crores.

What to watch

  • Margin moderation in the export segment due to raw material price increases and 4x higher shipping costs.
  • Market volatility (Trump tariff, West Asia war) making international expansion decisions difficult.
Read the full call →

What Mayur Uniquoters Ltd does

Mayur Uniquoters manufactures and trades PVC vinyl/synthetic ("artificial") leather used in automotive upholstery, footwear and furnishing applications, selling to both the domestic Indian market and export customers including automotive OEMs. It also has a smaller, developing polyurethane (PU) leather product line. The company operates through wholly owned and step-down subsidiaries in the United States, South Africa and Europe (Lithuania) that support supply and distribution in those markets, alongside a domestic trading subsidiary in Jaipur, while its manufacturing base is located at its registered office in Jaitpura, Jaipur, Rajasthan.

Segments

  • Synthetic (PVC) Leather
  • Polyurethane (PU) Leather
Market position
Described by management as market leader in India's synthetic (PVC) leather industry
Corporate structure
5 subsidiaries — wholly owned units in the USA (Texas) and South Africa (Johannesburg), a domestic trading subsidiary in Jaipur, and step-down units in Nevada (USA) and Lithuania (Europe)
Product lines
Synthetic (PVC) leather (core) and Polyurethane (PU) leather (newer, smaller)
End markets served
Automotive OEM export, general (non-auto) export, and the domestic India market
US operating model
US subsidiary Mayur Uniquoters Corp. (Texas) supplies leather to OEM customers on a just-in-time basis and performs only job-work processing, not full manufacturing
Headquarters Village Jaitpura, Jaipur-Sikar Road, Tehsil Chomu, Jaipur - 303704, Rajasthan, India Company website

Guidance record · Q1 FY27

what the last two calls moved 15 tracked 3 delivered 1 missed 11 open
  • Overall Revenue delivered said Q3 FY25 Promised: ₹800-825 crores nearly Q1 FY27: Promise achieved in prior quarters. No new updates.
  • Mexico CAPEX Decision missed said Q3 FY25 Promised: Decision in one month after assessing tariff impact Q1 FY27: Promise missed in prior quarters. The decision on a global plant is still pending due to market volatility.
  • Domestic Revenue Growth at risk said Q4 FY26 Promised: 8%-10% for next 2-3 years Q1 FY27: Domestic volume growth was only 1% in the quarter, significantly below the 8-10% value growth target.

All 15 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 19.9%, net profit up 43.9% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue216 195 214 206 238 +10%237 +22%261 +22%247 +20%
EBITDA48 46 45 43 59 +23%58 +26%87 +93%63 +47%
Net profit41 30 35 41 48 +17%53 +77%61 +74%59 +44%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +41.4% 1Y

₹500₹600₹700₹800₹900Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 12 Nov 2025Q3 FY26 — 2 Feb 2026Q4 FY26 — 20 May 2026Q1 FY27 — 6 Aug 2026

1Y: ₹523.2 on 10 Sept 2025 → ₹740.05. High ₹883.8 (2 Jul 2026), low ₹477.9 (9 Jan 2026).

How the price took the results

close before → close after

Q1 FY27
+0.6%
6 Aug
Q4 FY26
+11.8%
20 May
Q3 FY26
+1.8%
2 Feb
Q2 FY26
−4.2%
12 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 7.2% a year over 3 years, FY23 to FY26. Operating margin widened to 26.2%.

Year endingFY23FY24FY25FY26
Revenue₹765 Cr₹765 Cr₹820 Cr₹942 Cr
Operating profit₹144 Cr₹157 Cr₹182 Cr₹247 Cr
Operating margin18.8%20.5%22.2%26.2%
Interest₹2 Cr₹4 Cr₹0 Cr₹0 Cr
Depreciation₹22 Cr₹28 Cr₹28 Cr₹28 Cr
Net profit₹107 Cr₹119 Cr₹141 Cr₹203 Cr
Net margin14.0%15.6%17.2%21.5%
Cash from operations₹115 Cr₹92 Cr₹159 Cr₹143 Cr
Free cash flow₹85 Cr₹71 Cr₹141 Cr₹120 Cr
ROCE18.0%19.0%21.0%26.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹22 Cr₹22 Cr₹22 Cr₹22 Cr₹22 Cr₹22 Cr
Reserves₹613 Cr₹687 Cr₹736 Cr₹846 Cr₹992 Cr₹1.1k Cr
Borrowings₹41 Cr₹30 Cr₹25 Cr₹15 Cr₹7 Cr₹8 Cr
Other liabilities₹93 Cr₹81 Cr₹91 Cr₹79 Cr₹112 Cr₹122 Cr
Total liabilities₹769 Cr₹820 Cr₹874 Cr₹962 Cr₹1.1k Cr₹1.3k Cr
Fixed assets₹194 Cr₹220 Cr₹241 Cr₹232 Cr₹218 Cr₹212 Cr
Capital work in progress₹15 Cr₹12 Cr₹1 Cr₹1 Cr₹3 Cr₹3 Cr
Investments₹212 Cr₹160 Cr₹144 Cr₹198 Cr₹242 Cr₹297 Cr
Other assets₹348 Cr₹428 Cr₹488 Cr₹532 Cr₹671 Cr₹747 Cr
Total assets₹769 Cr₹820 Cr₹874 Cr₹962 Cr₹1.1k Cr₹1.3k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs added +0.93 pp while the public trimmed −0.79 pp. The shareholder count shrank 4% to 37,381.

Promoters
58.8%
FIIs
4.8%
DIIs
3.1%
Public
33.3%

Since Jun 2025

  • FIIs +0.93 pp
  • Public −0.79 pp
  • DIIs −0.32 pp

How it drifted, 12 quarters

Over this window DIIs fell from 9.7% to 3.1% — −6.5 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 58.5%, FIIs 2.4%, DIIs 9.7%, Public 29.4%.Dec '23: Promoters 58.5%, FIIs 2.8%, DIIs 8.7%, Public 30.0%.Mar '24: Promoters 58.5%, FIIs 2.8%, DIIs 6.4%, Public 32.2%.Jun '24: Promoters 58.5%, FIIs 3.3%, DIIs 4.0%, Public 34.2%.Sep '24: Promoters 58.6%, FIIs 3.2%, DIIs 3.2%, Public 35.0%.Dec '24: Promoters 58.6%, FIIs 3.2%, DIIs 3.3%, Public 34.9%.Mar '25: Promoters 58.6%, FIIs 3.3%, DIIs 3.4%, Public 34.6%.Jun '25: Promoters 58.6%, FIIs 3.9%, DIIs 3.5%, Public 34.1%.Sep '25: Promoters 58.6%, FIIs 3.3%, DIIs 3.5%, Public 34.6%.Dec '25: Promoters 58.6%, FIIs 3.2%, DIIs 3.3%, Public 34.9%.Mar '26: Promoters 58.8%, FIIs 3.7%, DIIs 3.6%, Public 33.9%.Jun '26: Promoters 58.8%, FIIs 4.8%, DIIs 3.1%, Public 33.3%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 2 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Mayur Uniquoters Ltd above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Suresh Kumar Poddar 40.46%unchanged
Manav Poddar 15.79%unchanged
Puja Poddar 1.56%unchanged
Envision India Fund FPI fund1.23%unchanged
Investor Education And Protection Fund Authority Ministry Of Corporate Affairs 1.14%newly disclosed
Vijaya S 1.09%unchanged
ICICI Prudential Dividend Yield Equity Fund Mutual fund1.01%unchanged
Arun Bagaria 0.77%unchanged
Kiran Poddar 0.19%unchanged
Dolly Bagaria 0.01%unchanged
Investor Education And Protection Fund Authority —off the list
Bandhan Small Cap Fund Mutual fund—off the list

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Attractive

To justify its price of ₹740, this stock must grow earnings at 9% every year for 7 years. Our analysis caps realistic growth at ~24%. At that growth it is worth ₹1631 — upside of 120%.

Growth the price implies
8.9% a year
for 7 years, fading to 4%
It has actually compounded at
23.8% a year
net profit, FY23–FY26 · EPS 24.1%
The gap
-0.2 pp
120% downside if it only repeats history
Price today ₹740.05 Value at the reference growth ₹1,630.58

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Mayur Uniquoters Ltd

Guides on how to read this kind of business and the numbers that matter.