Mayur Uniquoters’ Strong Earnings To Support A Re-Rating: Anand Rathi

February 16, 2021 0 By boss

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

With its user industries (auto, footwear) and its exports doing well, Mayur Uniquoters Ltd.’s Q3 revenue/Ebitda/profit after tax were up 31%/78%/91% YoY.

We are positive on it for its brighter outlook –

1. good demand from domestic auto/footwear including import substitution,

2. fast ramp-up at the polyurethane plant and

3. robust export opportunity via customers added (BMW, Mercedes, VolksWagen etc.).

On the improving outlook, we expect 16%/19% compound annual growth rates in revenue/PAT over FY20-23 after low 2%/6% CAGRs over FY14-20.

Click on the attachment to read the full report:

Anand Rathi Mayur Uniquoters Company Update.pdf

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