Mayur Uniquoters Limited , a prominent manufacturer of artificial leather and PVC vinyl, has received a vote of confidence from CARE Ratings Agency. The credit rating agency has reaffirmed strong ratings for the company's various bank facilities, underscoring its financial stability and creditworthiness.

Credit Ratings Breakdown

CARE Ratings has provided the following ratings for Mayur Uniquoters' bank facilities:

Understanding the Ratings

The ratings provided by CARE Ratings Agency offer valuable insights into Mayur Uniquoters' financial health:

• CARE AA; Stable: This rating for long-term facilities indicates a high degree of safety regarding timely servicing of financial obligations. It carries very low credit risk.
• CARE A1+: The highest rating for short-term facilities, suggesting a very strong degree of safety concerning timely payment of financial obligations and the lowest credit risk.

Implications for Investors and Stakeholders

The reaffirmation of these high credit ratings is a positive signal for Mayur Uniquoters:

1. Financial Stability: It reflects the company's strong capacity to meet its financial commitments.
2. Facility Amounts: The long-term bank facilities amount has been reduced from Rs. 10.80 crore to Rs. 5.90 crore, while the long-term/short-term bank facilities have been reduced from Rs. 67.00 crore to Rs. 65.00 crore.
3. Investor Confidence: These ratings may bolster investor confidence in the company's financial management and future prospects.

Conclusion

Mayur Uniquoters' ability to maintain high credit ratings speaks to its robust financial position and effective management. As the company continues to navigate the dynamic artificial leather and PVC vinyl market, these ratings provide a solid foundation for its financial operations.

Investors and stakeholders may view these ratings as a positive indicator of the company's ability to manage its financial obligations effectively, potentially influencing investment decisions and business partnerships.

Mayur Uniquoters Limited , a leading manufacturer of synthetic leather, has reported a strong performance in the second quarter of fiscal year 2026, with standalone revenue growing by 15% to INR 237.76 crores. The company's profit after tax (PAT) also saw a significant increase of 17%, reaching INR 48.10 crores for the quarter.

Export Growth Fuels Performance

The company's growth was primarily driven by increased export orders, particularly from U.S. Original Equipment Manufacturers (OEMs). Exports accounted for 42% of the total revenue, up from 38-40% in the previous quarter. The total export value for Q2 FY26 stood at INR 100.00 crores, with OEM exports contributing INR 71.00 crores and general exports adding INR 29.00 crores.

Domestic Market Performance

In the domestic market, Mayur Uniquoters saw steady performance across various segments:

Future Outlook

Mayur Uniquoters maintains its guidance of 12-15% revenue growth and 15-20% profit growth for FY26. The company expects its export business to grow faster than domestic operations, with a particular focus on the U.S. market.

Capacity Utilization and Expansion Plans

The company is currently operating at 75-77% capacity utilization. To meet growing demand, Mayur Uniquoters is considering expansion plans, including a potential new plant in South India. This new facility could add approximately 4-5 lakh meters per month or 5-6 million meters per year to the company's production capacity.

PU Division Progress

The Polyurethane (PU) division, while still facing challenges, showed signs of improvement. In Q2 FY26, PU sales volume increased by 21% to 314,000 meters, with a value of INR 7.80 crores, representing a 32% increase over the previous quarter.

Conclusion

Mayur Uniquoters' strong performance in Q2 FY26 demonstrates the company's resilience and ability to capitalize on growing export opportunities. With a focus on expanding its production capacity and improving its PU division, the company appears well-positioned for continued growth in the synthetic leather market.