Mayur Uniquoters Ltd (MAYURUNIQ)
🎯 Key Takeaways
- Mayur Uniquoters Ltd is in a growth phase driven by export momentum and strategic capacity expansion, transitioning from a mature domestic consumer durables player to an export-oriented manufacturer with scalable infrastructure. Management is targeting 10-15% revenue growth over three years, supported by new capacity and sustainable export margins of 25-30%.
- Revenue grew 0.2% QoQ to ₹208 in Q3FY25.
- ⚠️ Over-reliance on export demand, which grew 30.24% YoY but faces global macro headwinds and currency volatility.
📖 The Story
Mayur Uniquoters Ltd is in a growth phase driven by export momentum and strategic capacity expansion, transitioning from a mature domestic consumer durables player to an export-oriented manufacturer with scalable infrastructure. Management is targeting 10-15% revenue growth over three years, supported by new capacity and sustainable export margins of 25-30%.
📰 What's Happening
In Q1 FY27 (August 10, 2026 filing), consolidated revenue reached ₹269.23 crores (25% YoY), with standalone revenue at ₹247.03 crores (20% YoY), driven by export revenue of ₹103.80 crores and PAT growth of 43% YoY to ₹58.95 crores. Management plans to add 5 lakh meters of capacity by Feb-Mar 2027, projected to boost annual revenue by ₹150-300 crores. Export revenue grew 30.24% YoY, and capacity utilization stood at 75-78%. Earlier in FY26, Q4 results (May 23, 2026) showed consolidated revenue of ₹273.35 crores (22% YoY), PAT of ₹59.43 crores (43% YoY), and export growth of 15-20% YoY, with new capacity expected to contribute ₹135 crores in revenue. CAPEX of ₹350 crores is underway for global expansion. A related party remuneration of ₹5 lakhs/month to Mrs. Puja Poddar was proposed for shareholder approval (August 7, 2026 filing), and Navneet Jain, Assistant GM-Business Excellence, resigned effective July 14, 2026, citing personal reasons.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Q4FY23 | Q1FY24 | Q2FY24 | Q3FY24 | Q4FY24 | Q1FY25 | Q2FY25 | Q3FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 193 | 201 | 203 | 178 | 221 | 213 | 208 | 208 |
| Operating Profit | 37 | 48 | 51 | 45 | 48 | 59 | 58 | 50 |
| OPM % | 18.2% | 19.6% | 21.1% | 19.8% | 18.7% | 22.6% | 20.8% | 22.4% |
| Net Profit | 23 | 31 | 32 | 27 | 32 | 37 | 40 | 31 |
| EPS | ₹5.32 | ₹6.94 | ₹7.38 | ₹6.22 | ₹7.32 | ₹8.50 | ₹9.09 | ₹7.05 |
Revenue has shown consistent YoY growth over the past four quarters, rising from ₹193 crores in Q4FY23 to ₹269.23 crores in Q1FY27, with export revenue emerging as a key growth lever. Profitability has improved significantly, with PAT margins expanding alongside revenue growth, supported by favorable product mix and currency depreciation. Operating margins have remained relatively stable around 20-22%, indicating disciplined cost management despite capacity scaling. The company has transitioned from ₹23 crores NP in Q4FY23 to ₹58.95 crores in Q1FY27, reflecting strong earnings leverage.
🔮 Management Outlook & What's Next
Management expects export revenue to drive 10-15% revenue growth over the next three years, with sustainable margins targeting 25-30% due to favorable product mix and currency dynamics. Capacity expansion of 5 lakh meters by Feb-Mar 2027 is positioned to add ₹150-300 crores in annual revenue, supporting long-term growth targets. FX gains of ₹7.5 crores in Q4FY26 contributed to profitability, and inventory valuation remains stable. Management continues to emphasize margin discipline and export order book strength as pillars of future performance.
Extracted from official company announcements. Not StockFin.ai's opinion.
⚖️ Peer Comparison — Consumer Durables
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| Titan Company Limited | 3.70 L Cr | 77.6 | 34.3% | 41.0% | 0.88 |
| Asian Paints Limited | 2.50 L Cr | 65.0 | 26.0% | 19.8% | 0.04 |
| LG Electronics India Limited | 1.07 L Cr | — | — | — | — |
| Havells India Limited | 75,873 | 54.2 | — | — | — |
| Dixon Technologies (India) Limited | 66,754 | 75.9 | — | — | — |
| Berger Paints (I) Limited | 62,200 | 54.5 | — | — | — |
| Voltas Limited | 40,722 | 56.8 | — | — | — |
| Kalyan Jewellers India Limited | 36,461 | 54.6 | — | — | — |
| Blue Star Limited | 34,091 | 61.2 | — | — | — |
| Amber Enterprises India Limited | 29,854 | 164.3 | 8.4% | 4.1% | 0.62 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Over-reliance on export demand, which grew 30.24% YoY but faces global macro headwinds and currency volatility. 2. Execution risk around capacity expansion, with new capacity to be commissioned by Feb-Mar 2027, dependent on timely CAPEX deployment and market absorption. 3. FX volatility, as currency depreciation has historically supported margins but remains an external variable beyond management control. 4. Governance concerns around related party remuneration, requiring shareholder approval for ₹5 lakhs/month payment to HR head, which could attract scrutiny if perceived as disproportionate.
📋 Recent Filings
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🔴 Financial Results 10 August 2026Mayur Uniquoters reported standalone revenue of **₹247.03 crores** (20% YoY) and consolidated revenue of **₹269.23 crores** (25% YoY), with PAT at **₹...
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🟡 related party transaction 7 August 2026Mayur Uniquoters Ltd announced a postal ballot notice dated July 23, 2026 seeking shareholder approval for a related party transaction involving remun...
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🔴 annual report 5 August 2026Mayur Uniquoters Ltd announced its 33rd Annual General Meeting scheduled for September 18, 2026, via video conference, accompanied by distribution of ...
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🔴 Announcement 14 July 2026Mayur Uniquoters announced the resignation of Senior Management Personnel Navneet Jain, Assistant General Manager-Business Excellence, effective close...
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Financial Results 25 June 2026Mayur Uniquoters Ltd announced that its trading window will close on July 1, 2026, and remain closed for 48 hours after the un-audited financial resul...
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🔴 Financial Results 23 May 2026Mayur Uniquoters reported standalone revenue of **₹260.55 crores** (22% YoY growth) and consolidated revenue of **₹273.35 crores** in Q4 FY26, with PA...
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🔴 Financial Results 20 May 2026Mayur Uniquoters Ltd announced the availability of the audio recording for its earnings conference call discussing audited financial results for the q...
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🔴 Financial Results 19 May 2026Mayur Uniquoters Ltd reported consolidated revenue of **₹27,262.50 crores** for FY2026, up from **₹19,019.54 crores** in FY2025, reflecting a strong y...
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🔴 Corporate Action 19 May 2026Mayur Uniquoters Ltd announced a final dividend of **₹6 per share** (120% of face value) totaling **₹2607.16 crores** for FY2025-26, payable on May 19...
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🔴 Financial Results 19 May 2026Mayur Uniquoters Ltd reported audited FY2026 net profit of **₹2,922.25 lakhs** and recommended a final dividend of **₹6 per share (120% payout)**, up ...
🧠 Analyst's Read
Mayur Uniquoters is transitioning into a higher-growth phase supported by export expansion and capacity investment, with improving profitability and margin discipline. Investors should monitor execution of capacity addition, sustainability of export margins, and global demand trends, particularly in automotive and appliance sectors, as key near-term catalysts.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-08-13.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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