MAYURUNIQ - Mayur Uniquoters ltd. Share Price

Management of Mayur Uniquoters Limited provided an optimistic outlook for the company, highlighting strong growth expectations. For FY '27, they project a domestic revenue growth of 8%-10% and an export growth of 15%-20%. They have noted significant growth achievements, with total revenue from operations on a standalone basis reaching INR 260.55 crores in Q4 FY '26, marking a 22% increase compared to the previous year. Profit before tax (PBT) and profit after tax (PAT) have increased by 70% and 73%, respectively.

On a consolidated basis, the company reported revenues of INR 273.35 crores, with PBT at INR 81.23 crores and PAT at INR 59.43 crores, reflecting increases of 9% in revenue, 54% in PBT, and 43% in PAT year-on-year. In FY '26, they achieved an overall revenue growth of 15%: 35.5% in exports and 4% in domestic revenues, with a total volume of 31 million meters and a total volume growth of approximately 4.5%.

Management emphasized their goal to expand as a preferred supplier in OEM and overseas markets, particularly in the U.S. and Europe, and mentioned having received substantial export orders from the U.S. Management also highlighted that the momentum experienced in exports is expected to continue for the next 2-3 years.

Moreover, corporate social responsibility efforts included planting 45,000+ trees and various initiatives for local communities, reinforcing their commitment to societal responsibilities alongside business growth.

Overall, management's forward-looking guidance reflects a robust strategy focusing on expanding market presence, enhancing customer base, and maintaining profitability margins between 25%-30%, while navigating the challenges and dynamics of market conditions and costs.

1. Question: "Sir, my question is on the raw material side, particularly paste PVC and the yarn. How has been the current trend on the raw material prices? And also, are you facing any issue on the availability of paste PVC?"

   Answer: "The prices have gone up significantly since March due to it being a petroleum by-product. Initially, there were concerns about availability, but those issues are resolved now. Prices have softened slightly from the March peaks, and availability is not a concern currently."

2. Question: "Can you give some flavor on the domestic, for the full year, the domestic growth and the export growth? And some flavor on within that, the auto growth and the non-auto growth?"

   Answer: "We anticipate domestic growth of 8%-10% and export growth of 15%-20%. We're focusing on automotive, expecting more significant growth from that sector in both domestic and international markets. Last year, we achieved a 15% value growth overall, with exports growing 35.5% and domestic at about 4%."

3. Question: "What are your expectations for the export growth? Do you plan to push this further to 20%-25% in the upcoming years?"

   Answer: "We are targeting multiple customers and seeking to increase business through existing and new platforms. While we cannot specify if this will happen in the next year, we've seen strong growth and remain optimistic for exceeding the 15%-20% target if conditions are favorable."

4. Question: "Can you provide more details on your PU business? How has its performance been?"

   Answer: "The PU business is still muted; we haven't seen substantial volume sales. While we are in talks with brands, business hasn't matured yet. We have however been approved as a vendor by a major customer but are still pending on price settlements."

5. Question: "What will be your CAPEX plans for the next 2 years?"

   Answer: "We plan for a CAPEX of INR 300 crores for a global location, potentially in Mexico or elsewhere. We will be expanding our capacity by ordering a coating line within our current facility rather than South India, which will reduce overall costs significantly."