MAYUR UNIQUOTERS LTD

Being the most preferred supplier of artificial leather is what was at the genesis of the formation of Mayur Uniquoters Limited in 1994. Since then we have never looked back and have shown phenomenal and holistic growth with every passing year so much. So that in 2012, we made way into the 'Forbes Asia Top 200 under $1Bn enterprises' in the Asia Pacific region. We are the largest manufacturer of artificial leather, using the 'Release Paper Transfer Coating Technology' in India. We have come a long way in the past two decades from a merger production of 0.25 million linear meters per month, to an astonishing 3.05 million linear meters per month, through our 6 state of the art Italian coating lines. We have now started our PU coating plant with a current capacity of 6 lacs linear meter per month. Our world-class infrastructure consists of a full range of machinery to fulfill our knitting, processing, heat setting, coating, embossing, printing, lacquering, sueding, tumbling and laminating needs. We value quality and innovation . Thus, our Physical, Chemical and Product Development Laboratories are capable of testing predominantly all properties of artificial leather for different segments and applications. Expanding horizons of IT by incorporating ERP (Enterprise Resource Planning), we are now empowered and committed to stay updated, to innovate, to communicate effectively, and to ensure product and process traceability from start to end. We have been certified with ISO 9001:2015 (Quality Management System) which is demonstrative of our commitment towards designing and manufacturing of artificial leather through effective implementation of systems and continual improvement in all our processes. The financials of the company is good, RoNW is 10.03% and at CMP its looks fully priced. Price difference is around 40% and acceptance ration as per current share holding for retail will be around 2%, so we may expect the final acceptance ratio may be around 10% and profit may be 4%. So we give NEUTRAL rating to this buyback.