Mayur Uniquoters Ltd-$ — Q1 FY27 earnings call
Summary generated by AI from the official transcript Mayur Uniquoters Ltd-$ filed with BSE on 10 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Mayur Uniquoters reported standalone Q1 FY27 revenue of Rs 247.03 crore, up 20% year-on-year, with PBT and PAT rising 41% and 43% respectively. Consolidated revenue was Rs 269.23 crore, up 25%, with PBT and PAT growth of 35% and 38%. Management attributed most of the growth to price and mix rather than volume, and discussed elevated freight and raw material costs, a capacity expansion in progress, and ongoing evaluation of an overseas plant.
1 statement from this call is not shown because its supporting quote could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Standalone revenue from operations: INR247.03 crores (Q1 FY27)
p. 3
“The company has achieved the revenue from operations on a standalone basis is INR247.03 crores, PBT INR77.79 crores and PAT INR58.95 crores.”
Management, page 3 of the filed PDF · View the filing
Standalone PBT: INR77.79 crores (Q1 FY27)
p. 3
“The company has achieved the revenue from operations on a standalone basis is INR247.03 crores, PBT INR77.79 crores and PAT INR58.95 crores.”
Management, page 3 of the filed PDF · View the filing
Standalone revenue growth: 20% (Q1 FY27 Y-on-Y)
p. 3
“In this quarter, the standalone revenue increased by 20% and PBT and PAT, both increased by 41% and 43% on Y-on-Y basis.”
Management, page 3 of the filed PDF · View the filing
Consolidated revenue from operations: INR269.23 crores (Q1 FY27)
p. 3
“The revenue from operations on consolidated basis is INR269.23 crores, PBT INR74.12 crores and PAT INR56.12 crores.”
Management, page 3 of the filed PDF · View the filing
Consolidated revenue growth: 25% (Q1 FY27 Y-on-Y)
p. 3
“In this quarter, the consolidated revenue increased by 25% and PBT and PAT, both increased by 35% and 38%, respectively.”
Management, page 3 of the filed PDF · View the filing
Total exports: INR103.80 crores (Q1 FY27)
p. 4
“Export general 30.24, export OEM 73.56, total exports is INR103.80 crores, auto OEM domestic 56.08, replacement, 36.52, footwear 41.16, furnishing 6.08 and other 3.38 and total domestic sale is 143.23.”
Management, page 4 of the filed PDF · View the filing
Total domestic sale: 143.23 (Q1 FY27)
p. 4
“Export general 30.24, export OEM 73.56, total exports is INR103.80 crores, auto OEM domestic 56.08, replacement, 36.52, footwear 41.16, furnishing 6.08 and other 3.38 and total domestic sale is 143.23.”
Management, page 4 of the filed PDF · View the filing
Volume growth contribution to overall growth: around 2% (Q1 FY27)
p. 4
“The growth is driven by the volume is around 2% and remaining growth has come from price part.”
Management, page 4 of the filed PDF · View the filing
Export volume growth: 9% plus (Q1 FY27)
p. 7
“Volume growth for domestic and export is in total. Export is 9% plus is the growth rate and 1% is domestic growth rate. Overall, 2.77%, around 3%, you can take it.”
Management, page 7 of the filed PDF · View the filing
Capacity utilization: 75% to 78% (Current)
p. 6
“So, we are utilizing somewhere between 75% to 78%.”
Management, page 6 of the filed PDF · View the filing
PVC installed capacity: 3.5 million to 4.2 million meters per month (Current)
p. 6
“The capacity also depends on whatever product we make, but you can say somewhere between 3.5 million to 4.2 million meters per month.”
Management, page 6 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Additional production capacity — 5 lakh meters · towards end of this financial year, February-March 2027
stated firmly by Management
p. 4
“So we should be able to start our production by -- towards the end of this financial year, somewhere between February, March 2027. So we'll have an additional production capacity of 5 lakh meters.”
Management, page 4 of the filed PDF · View the filing
Top line growth — 10% to 15% · next 3 years
stated conditionally by Management
p. 7
“So anywhere between 10% to 15% growth because certain things sometimes you plan and it's not in your hands.”
Management, page 7 of the filed PDF · View the filing
US business growth — 60%, 70% · next three years
stated conditionally by Management
p. 11
“Surely. Sir we have already told that our US business will increase and next in next three years the business will almost be if not double at least 60%, 70% our US business will increase, right?”
Management, page 11 of the filed PDF · View the filing
Capex plan — Around INR50 crores · FY27
stated firmly by Management
p. 12
“Around INR50 crores.”
Management, page 12 of the filed PDF · View the filing
Additional capex for new facility — 250 crores · next 2 years
stated conditionally by Management
p. 13
“So, if that happens, then in the next 2 years, you will have a capex of 250 crores.”
Management, page 13 of the filed PDF · View the filing
Headroom to expand capacity — 25%, 30% more capacity
stated as an aspiration by Management
p. 15
“So, we have a headroom to expand to 25%, 30% more capacity.”
Management, page 15 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said volume contributed around 2% and the rest came from price and mix.
Answered by Management
Asked by Shubham Jain: How much of the 25% growth was driven by volume versus realization?
p. 4
“The growth is driven by the volume is around 2% and remaining growth has come from price part.”
Management, page 4 of the filed PDF · View the filing
Management explained the prior quarter's margin was abnormally high due to forex gains and that the current margin is the sustainable level.
Answered by Management
Asked by Saloni: Why did margins not sustain the prior quarter's level and what caused it?
p. 6
“But last quarter, it was abnormally high because of foreign exchange increase in -- abnormally high increase in foreign exchange rates.”
Management, page 6 of the filed PDF · View the filing
Management said raw material prices rose sharply and fluctuated, and increases were not always passed on for strategic reasons.
Answered by Management
Asked by Viraj Kacharia: Was there under-recovery of raw material costs not yet passed to customers?
p. 7
“So obviously, there was an increase in the raw material prices, which started happening in the month of March.”
Management, page 7 of the filed PDF · View the filing
Management attributed it to the Gulf War impacting prices and a 4x increase in shipment costs, with no price increase yet taken from customers.
Answered by Management
Asked by Kiran: Why did export OEM gross margin not improve despite 40% growth?
p. 8
“There are two parts in this. The first one, because of the Gulf War the problem arises that impacted the price in Q1. And secondly, because of this war, the shipments cost have also increased.”
Management, page 8 of the filed PDF · View the filing
Management confirmed around Rs 50 crore for FY27, with FY28 capex dependent on a final decision on a new facility.
Answered by Management
Asked by Ravi Naredi: What is the capex plan for FY27 and FY28?
p. 13
“Both which -- only 2026-2027, I told you. For the financial year.”
Management, page 13 of the filed PDF · View the filing
Management confirmed underutilization continues due to volatile PU input costs and intense competition from China, with no confirmed new business yet.
Answered by Management
Asked by Saloni: Is the PU plant currently loss-making and what is the strategy?
p. 16
“Yes. So, we -- yes, we are underutilizing our capacity. There has been no change since last quarter, in the last 3 months, largely because of market -- very volatile market situation, the cost of PU specifically, both as an upper material and both as a sole material, the bottom part of the footwear.”
Management, page 16 of the filed PDF · View the filing
Risks flagged
Volatility in raw material prices
p. 7
“So obviously, there was an increase in the raw material prices, which started happening in the month of March. And the market has been very volatile since then.”
Management, page 7 of the filed PDF · View the filing
Elevated shipping and freight costs due to geopolitical conflict
p. 8
“And secondly, because of this war, the shipments cost have also increased. It's 4x higher, the shipment cost was increased.”
Management, page 8 of the filed PDF · View the filing
Uncertainty from tariffs and geopolitical conflict affecting overseas plant location decision
p. 5
“But because of all this Trump tariff, the West Asia war or multiple things happening in the last few years, we have not taken a final call where -- which should be the ideal location to put our plant.”
Management, page 5 of the filed PDF · View the filing
Footwear segment raw material cost spike causing demand weakness
p. 7
“So obviously, the market was muted in the footwear segment.”
Management, page 7 of the filed PDF · View the filing
Intense competition from China in PU segment
p. 16
“PU, there is a lot of intense competition from China for sure.”
Management, page 16 of the filed PDF · View the filing
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