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Mayur Uniquoters reported mixed performance for Q1FY27

ICICIdirect Research 06 Aug 2026 DISCLAIMER

News: Mayur Uniquoters reported mixed performance for Q1FY27. Consolidated sales for Q1FY27 came in at ₹269 crore (up ~25% YoY). Reported EBITDA for the quarter came in at ₹59 crore with corresponding EBITDA margin at 21.9% (down 950 bps QoQ) because of higher input costs. PAT in Q1FY27 stood at ₹56 crore (up 38% YoY), supported by higher other income.

View: Q1FY27 margin profile of 21.9% was below expectation and guided range of 24-25% amidst management intent to relatively higher growth in margin accretive export markets vs. domestic sales. With a long-term perspective, we remain positive on the stock amidst healthy growth prospects especially in auto OEM export space, EV agnostic product profile, healthy margin & RoIC profile (20%+) & Cash positive B/S. It trades inexpensive at ~16x PE on TTM basis. We await management commentary for margin stabilization going forward.

Impact: Negative

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