Moneycontrol PRO

Buy Mayur Uniquoters; target of Rs 350: ICICI Direct

ICICI Direct is bullish on Mayur Uniquoters recommended buy rating on the stock with a target price of Rs 350 in its research report dated August 25, 2020.

August 26, 2020 / 09:36 PM IST
  • bselive
  • nselive
Todays L/H

ICICI Direct's research report on Mayur Uniquoters

Mayur Uniquoters (MUL) is a leading player in the domestic technical textile industry, manufacturing artificial/synthetic leather for a wide variety of applications viz. automotive (seat upholstery, inner linings), footwear (shoes/sandals insole, uppers), furnishing and apparel. It has the capacity to manufacture ~3.7 crore metre/annum of polyvinyl chloride i.e. PVC artificial leather & ~0.7 crore metre/annum of polyurethane (PU) artificial leather. It is a quality franchise with proven capabilities, which is highly capital efficient in nature, commanding strong double-digit margins and been a consistent CFO generator with net cash positive B/S.


Increasing share of automotive business, stable crude oil prices, general focus on value addition and robust financials bodes well for MUL. Accordingly, we assign BUY rating to the stock, valuing the company at Rs 350 i.e. 20 FY20 EPS of Rs 17.6.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Aug 26, 2020 09:36 pm