MAYURUNIQ - Mayur Uniquoters ltd. Share Price

Question 1: "If you can give some update on the capex plans for South and we were also evaluating for the U.S. markets. So any color on the quantum of capex capacity we are looking to add?"

Answer: We're considering both capex options, evaluating which to prioritize first. The South plant requires approximately INR200 crores, while a global scale capex could be around INR300 crores. We'll finalize the decision soon.

Question 2: "Sir, in which situation you think you will start getting affected by tariffs? And what is the initial talk with our customers in the U.S. market?"

Answer: Currently, we aren't experiencing impacts, but we're evaluating long-term strategies to potentially establish a plant outside India. Immediate impacts are not anticipated, but discussions with customers have yet to deepen since there's no certainty of tariffs affecting us.

Question 3: "If this product mix gets maintained, can we sustain this 24%, 25% margin in the foreseeable future?"

Answer: Yes, our focus on the export market is growing, which typically offers better margins than the domestic sector. Therefore, we believe we can maintain, or even slightly improve, the 24%-25% margin levels moving forward.

Question 4: "Any guidance on the INR100 crores export run rate for the next few quarters?"

Answer: We see stronger growth in exports than domestically. Thus, the current export figures should improve in the future, aligning with our strategy to focus on the export market.

Question 5: "What is the outlook for FY '27 in terms of top line and bottom line?"

Answer: We are targeting a 15% growth for FY '27 and the same for the following year. We maintain expectations for sustained profitability and growth aligned with these figures.

Question 6: "What was the loss in the PU division in the current quarter? When do you think we can reach optimal utilization?"

Answer: We are still in discussions regarding optimal utilization and expect continuous processes over three years. It's critical to secure orders before commenting on specific utilizations or margins.

Question 7: "Could you explain the reasons for the crackdown in the Domestic business sectors aside from Auto OEM?"

Answer: There has been cautious growth; however, we are prioritizing exports due to better margins. The domestic market's competition conditions can depress some sectors, notably footwear.

Question 8: "What are our raw material sourcing percentages between imports and local?"

Answer: Generally, imports account for about one-third of total raw material costs. I will confirm exact numbers soon, as they may vary based on sourcing specifics.

Question 9: "Is the forex gain in the other income a notional or booked profit?"

Answer: The forex gain is booked, with no expectations of reversal. We've achieved solid growth through operational effectiveness and input management.

Question 10: "What is the guidance regarding revenue, volume, and EBITDA margin for the upcoming two years?"

Answer: We expect to achieve a 15% average revenue growth annually, with margins remaining stable or improving slightly from current levels due to enhanced operational efficiency and export growth.