Fundamental Report Mayur Uniquoters Limited

Mayur Uniquoters Ltd. is one of leading manufacturer of artificial leather, leveraging advanced Release Paper Transfer Coating Technology. It specializes in Coated Textile Fabrics, synthetic leather, and PVC Vinyl, providing to various, sectors including Footwear, Furnishings, Automotive OEMs, and the automotive replacement and export markets. It’s strong product portfolio features over 400+ variants of PVC and PU-coated fabrics tailored for footwear, automotive interiors, apparel, and leather goods. To capture the premium retail fabric market, it operates under the brand “Texture and Hues” through its Wholly Owned Subsidiary (WOS), Mayur Tecfab. It maintains a diversified product mix and a strong position across both domestic and international automotive supply chains.

Recommendation Accumulate

Accumulate Between Rs. 700 – 680

Target Price Rs. 940

Time Horizon 12 Months

Outlook:

Mayur Uniquoters is one of leading player producer of artificial leather, leveraging advanced Release Paper Transfer Coating Technology. It has delivered a strong financial performance in Q4FY26, registering 9.1% YoY growth in revenue from operations and 43.2% YoY growth in PAT compared to Q4FY25. For the full year, also posted a strong performance, with a 9.9% growth in the top line for FY26 and a 28.4% growth in PAT over FY25. This performance was led by strong execution across segments. Consequently, the EBITDA margin for Q4FY26 stood at 31.4%, and at 24.3% for FY26. Management is confident in boosting its export and automotive segment business, while maintaining its strong margins and revenue growth. The company reported an EPS of Rs 44.13 for FY26 and currently trades at a CMP of Rs 697, representing a P/E multiple of 15.79x. These valuations are fair at current levels. Keeping in mind the valuations and the above-mentioned factors, we expect the company to outperform, with a target price of Rs 940 over a 12 month time period.

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