Mayur Uniquoters Reports 15% Revenue Growth in Q2 FY26, Driven by Export Orders

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:

Segment	Revenue (INR Crores)
Auto OEM	49.00
Replacement	36.00
Footwear	43.00
Furnishing	8.00

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.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.75%	-1.23%	+8.58%	-8.65%	-9.89%	+102.94%

Mayur Uniquoters , a leading synthetic leather manufacturer, has reported a strong financial performance for the second quarter. The company's results showcase significant growth in key financial metrics, indicating improved operational efficiency and market position.

Financial Highlights

Metric	Q2 FY2025-26	Q2 FY2024-25	YoY Change
Net Profit	₹481.00 million	₹414.00 million	+16.2%
Revenue	₹2.38 billion	₹2.16 billion	+10.2%
EBITDA	₹591.40 million	₹479.50 million	+23.3%
EBITDA Margin	24.87%	22.16%	+271 bps

Mayur Uniquoters has demonstrated robust growth across all key financial parameters in the second quarter of FY2025-26:

Net Profit: The company's net profit increased by 16.2% year-over-year, reaching ₹481.00 million compared to ₹414.00 million in the same quarter last year.
Revenue: Total revenue grew by 10.2% to ₹2.38 billion, up from ₹2.16 billion in Q2 FY2024-25.
EBITDA: Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) saw a significant jump of 23.3%, rising to ₹591.40 million from ₹479.50 million in the corresponding quarter of the previous year.
EBITDA Margin: The EBITDA margin expanded by 271 basis points to 24.87%, compared to 22.16% in Q2 FY2024-25, reflecting enhanced operational efficiency.

Operational Performance

The substantial improvement in EBITDA and EBITDA margin suggests that Mayur Uniquoters has successfully optimized its operational costs while driving revenue growth. This could be attributed to factors such as improved production efficiency, better raw material cost management, or a favorable product mix.

Market Implications

The strong financial results are likely to be viewed positively by investors and market analysts. The company's ability to grow its revenue and significantly improve profitability demonstrates its resilience and strong market position in the synthetic leather industry.

Looking Ahead

While the company has not provided specific forward-looking statements, the robust Q2 performance sets a positive tone for the remainder of the fiscal year. Investors and stakeholders will be keen to see if Mayur Uniquoters can maintain this growth momentum in the coming quarters.

As always, it is important for investors to conduct their own research and consider market conditions and risk factors before making investment decisions based on these results.