Q1 2026 Mayur Uniquoters Ltd Earnings Call Transcript
Key Points
- Revenue from operations grew 20% YoY on a standalone basis and 25% on a consolidated basis, with PBT and PAT up 41% and 43% respectively.
- Received new OEM supply orders from the USA, which are already contributing to export sales and overall profitability, with growth expected to continue for the next 2-3 years.
- Export OEM segment saw a 39% YoY increase, driven by higher volumes and better product mix, indicating strong demand in international markets.
- Company is expanding capacity with a new line expected to start production by Feb-Mar 2027, adding 5 lakh meters per month and supporting future growth.
- Management expects 10-15% top-line growth over the next three years, with a strong focus on export markets, and maintains a sustainable margin outlook of 25% plus/minus 1-2%.
- The India-UAE FTA is seen as a positive development, potentially increasing customer sentiment to source from India, especially in Europe.
- Company has a healthy capacity utilization of 75-78% and plans to add more capacity, with headroom for 25-30% more output from existing facilities.
- Strong CSR initiatives, including plantation of 50,000 plants and support for education and healthcare, have been recognized by the state government.
- Volume growth was only 2% YoY, with domestic volume growth at just 1%, indicating sluggish domestic demand.
- Raw material prices have been volatile, with increases in March and subsequent fluctuations, leading to margin pressure and delayed price hikes.
- Freight and shipping costs have increased fourfold due to geopolitical tensions, impacting other expenses and margins.
- The PU plant remains underutilized and loss-making, with no significant improvement expected in the near term due to intense competition from China.
- The company has not taken definitive price hikes in the export market, especially in the US, due to market volatility and strategic reasons, which could affect margins.
- Other expenses increased by INR 9 crores quarter-on-quarter due to higher shipping, travel, and professional costs, which may partially recur.
- The planned international expansion is still under evaluation, with no final decision due to market volatility, delaying potential growth opportunities.
- Domestic footwear segment experienced degrowth due to a sharp increase in raw material prices, impacting overall domestic performance.
(Operator Instructions)
Ladies and Gentlemen, Good day and welcome to Mayur Uniquoters Limited Q1 FY-2027 Earnings Conference Call hosted by Monarch Networth Capital Limited. I now hand the conference over to Mr. Rahul Dani. Thank you. And over to you, sir.
Yeah, thank you, Anushka. Good afternoon, everyone. On behalf of Monarch Networth Capital Limited, it's our pleasure to host the senior management of Mayur Uniquoters. On the call today, we have Mr. Arun Bagaria, Executive Director, and Vinod Kumar Sharma, CFO of the company.
We will start the call with opening remarks from the management and then move to Q&A.
Thank you and over to you, sir.
Thank you, Rahul.
Good afternoon, dear investors and analysts. It's a great pleasure to address you as we reflect in the past years and look forward to the future of the company.
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