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Mayur Uniquoters Ltd

| Quarterly Financial Results Q3 FY 2025-26

BULLISH SENTIMENT

Report Source

⬤30th Jan 26

Summary : Mayur Uniquoters reports strong Q3 and YTD financial growth, appoints new HR leader, while assessing new labor codes.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Standalone Total expenses: Q3 FY26 ₹18,617.79 lakhs, YTD FY26 ₹54,257.65 lakhs.
  2. Consolidated Total expenses: Q3 FY26 ₹18,967.30 lakhs, YTD FY26 ₹56,767.64 lakhs.
  3. Standalone Revenue from operations: Q3 FY26 ₹23,698.82 lakhs, YTD FY26 ₹68,116.17 lakhs.
  4. Consolidated Revenue from operations: Q3 FY26 ₹23,748.40 lakhs, YTD FY26 ₹69,367.05 lakhs.
  5. Paid-up equity share capital: ₹2,172.63 lakhs.
  6. Consolidated Other equity (as of March 31, 2025): ₹93,384.56 lakhs.
  7. Both standalone and consolidated results presented.
  8. Consolidated includes Mayur Uniquoters Corp. Group (USA, Europe), Mayur Uniquoters SA (South Africa), Mayur Tecfab Private Limited (India).

Corporate Overview

  1. India (Holding Company and subsidiary)
  2. USA (subsidiaries)
  3. Europe (subsidiaries)
  4. South Africa (subsidiaries)
  5. Evaluating the full impact of new labor codes.
  6. Monitoring developments on rules notified by regulatory authorities.
  7. Manufacturing of artificial leather and PVC vinyl.
  8. Operates in PU/PVC synthetic leather segment.
  9. Factual and formal, focused on reporting financial results and regulatory compliance.
  10. PU/PVC synthetic leather (single reportable segment).

Risk Factors

  1. New labor codes impact uncertain.
  2. Regulatory changes require careful assessment.
  3. Accounting implications of new codes.
  4. Global operational complexities exist.

Key Drivers

  1. Revenue and profit show strong growth.
  2. New HR leader strengthens management.
  3. Global subsidiaries contribute to performance.
  4. Positive financial results drive market confidence.

Auditor’s Report

  1. Limited Review Report, not an audit opinion.
  2. No material misstatement noted based on review.

Board Commentary

  1. Appointment of Mr. Samdar Singh as Senior General Manager- HR and Administration, designated as Senior Management Personnel (SMP), effective January 30, 2026.
  2. Impact of new labor codes on operations and accounting.
  3. Government of India consolidated 29 labor legislations into four New Labour Codes, effective from November 21, 2025.
  4. Company is evaluating the full impact of these new labor codes.

Corporate Governance

  1. Code of Conduct under SEBI (Prohibition of Insider Trading) Regulations, 2015 for 'Trading Window'.
  2. Audit Committee reviewed and approved financial results.

Management Discussion & Analysis

Future Strategy

  1. Evaluating impact of new labor codes.
  2. Monitoring regulatory developments for accounting implications.

Operational Focus Areas

  1. Assessing new labor codes for compliance and accounting.
  2. Continuous monitoring of regulatory changes.

Performance Drivers

  1. Strong revenue growth in Q3 and YTD.
  2. Increased net profit for the period.

Risk Control Measures

  1. Company is in process of evaluating new labor codes.
  2. Monitoring regulatory developments and seeking guidance.

Critical Risks

  1. Uncertainty regarding the full impact of new labor codes.
Mayur Uniquoters Ltd (MAYURUNIQ) Quarterly Report Analysis & Insights | Dhanarthi