Mayur Uniquoters (MAYURUNIQ)

FairStock Score: 60/100 — STEADY

Score breakdown: P/E: 2/3 · ROCE: 1/2 · Growth: 2/2 · Dividend: 0/1

Key Financials

Strengths

• High ROE of 20.11% and ROCE of 20.67% with negligible debt (D/E 0.01) show strong capital efficiency and a conservative balance sheet.
• Robust growth: sales up 21.58%, profit up 77.41%, with latest quarter net profit of ₹53 Cr on sales of ₹237 Cr.
• Attractive valuation: P/E of 13.04, PEG of 0.26, and P/B of 2.83 against a 20% ROE.
• Piotroski F-Score of 7/9 and promoter holding of 58.59% indicate financial health and aligned interests.

Concerns

• Profit growth of 77.41% is far higher than sales growth of 21.58%, suggesting margins may be elevated and mean reversion is possible.
• The stock has fallen sharply from its 52-week high of ₹907 to ₹573.75, which could signal unresolved business or sentiment concerns.
• Dividend yield is low at 0.94%, so shareholders depend largely on capital appreciation.
• Leather products can be cyclical and competitive, which may cause earnings volatility.

AI Analysis

At ₹573.75, Mayur Uniquoters has been knocked down from its 52-week high of ₹907, and I like to ask whether Mr. Market is handing me a bargain. The numbers tell a fairly simple story. The company earns an ROE of 20.11% and ROCE of 20.67%, with debt-to-equity of just 0.01. That is the kind of capital discipline Graham would admire; leverage is not doing the work, operations are. Sales are up 21.58%, but profit is up 77.41%—that kind of operating leverage is impressive, though I have to ask whether it is sustainable. With a P/E of 13.04 and a PEG of 0.26 based on that profit growth, valuation looks reasonable if the company can keep compounding. Book value is ₹202.99, so the market is paying 2.83 times book, backed by a 20% return on equity. A Piotroski F-Score of 7/9 adds confidence to the balance-sheet health. Promoters hold 58.59%, so their interests are aligned with mine. The latest quarter delivered ₹237 crore in sales and ₹53 crore in net profit—a net margin of over 22%, which is solid. Of course, I must be careful: this is a leather products company, and such businesses can be cyclical. A 77% profit growth rate is not a straight line. Dividend yield is only 0.94%, so the thesis rests on growth and re-rating, not income. Still, at 13 times earnings, with high returns and low debt, this appears to be a good business at a fair price. I would keep a close eye on whether margins hold; if they do, Mayur Uniquoters has room to reward patient shareholders.

Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer