Mayur Uniquoters Share Price Target 2026–2030 and What Drives It

Mayur Uniquoters share price today

Most people typing mayur uniquoters share price into a search box are asking two questions at once. The first is simple: where is the stock trading today. The second is harder: why does a Jaipur company that coats fabric with polyurethane and PVC earn a return on capital in the mid-twenties, and can it keep doing so. This article deals mainly with the second question, because the live quote above answers the first one better than any paragraph can.

At the 10 September 2026 capture, the closing price on Yahoo Finance was ₹748.95, market capitalisation was about ₹3,262 crore and trailing EPS was ₹47.4. That works out to roughly 15.8 times trailing earnings and 2.88 times a book value of ₹260.67 per share. The stock sat about 15.3% below its 52-week high of ₹883.80 and roughly 57% above its 52-week low of ₹477.90. Every ratio and scenario input below is fixed to that capture; the widget is not.

The interesting part of the setup is the combination. Return on capital employed of 24.74%, a five-year ROCE of 20.16%, promoter holding of 61% with no pledged shares, ₹258 crore of cash against ₹8 crore of total debt, and a multiple in the mid-teens. That is not the arithmetic of a richly priced compounder. It is the arithmetic of a small, profitable, cyclical supplier that the market is pricing cautiously, and the job of the rest of this page is to explain what would justify each view.

What Mayur Uniquoters actually makes

Mayur Uniquoters manufactures and sells coated textile fabrics. In practical terms that means artificial leather and PU or PVC synthetic leather: rolls of woven or knitted base fabric coated with polymer, embossed, finished and cut to a customer’s specification for grain, colour, abrasion resistance and flame behaviour. The company was incorporated in 1992, is based in Jaipur, and employed 465 people at the date of the figures used here. It sells in India, the United States, South Africa and other international markets.

This is a deceptively technical business. The raw material is a commodity, but the qualification is not. An automotive seating specification takes years to approve, is audited, and is written into a vehicle programme that then runs for the life of that model. Once a coated-fabric supplier is in a programme, the cost of switching is high relative to the value of the part. That is where a mid-twenties return on capital in a fabric-coating business comes from.

End market	What the company supplies	Demand driver	Earnings characteristic
Automotive OEM	Seat, door-trim and interior surfaces to vehicle programmes	New model launches and passenger-vehicle volumes	Long qualification, sticky once approved
Automotive replacement	Reupholstery and aftermarket interior material	Vehicle parc and average age	Steadier than OEM, less specification-led
Automotive exports	Coated fabric shipped to overseas vehicle programmes	Overseas platform wins and currency	Higher value per metre, longer approval
Footwear	Upper and lining material for shoe manufacturers	Footwear volumes and fashion cycles	Faster turning, more price-competitive
Furnishings	Upholstery material for furniture and interiors	Housing, hospitality and office fit-outs	Discretionary and design-led

The mix matters more than the product list. Automotive exports and OEM work carry the qualification barrier; footwear and furnishings are more contested. A shift in revenue toward the first group is what allows margin to rise, and a shift toward the second is what allows it to fall. Nothing in the figures captured for this article breaks revenue down by segment, so the mix has to be inferred from margin rather than read directly.

FY23 to FY26: profit grew far faster than revenue

The four annual rows available here tell a clear story, and it is not a growth story in the usual sense. Revenue rose from ₹776 crore in FY23 to ₹942 crore in FY26, a compound rate of roughly 6.7% a year. Net profit over the same three years rose from ₹107 crore to ₹192 crore, about 21.5% compounded. Almost all of the gap is margin.

Financial year (ended March)	Revenue	Net profit	Net margin
FY23	₹776 Cr	₹107 Cr	13.8%
FY24	₹803 Cr	₹122 Cr	15.2%
FY25	₹820 Cr	₹141 Cr	17.2%
FY26	₹942 Cr	₹192 Cr	20.4%
Trailing twelve months at capture	₹1,020 Cr	About ₹206 Cr implied	20.3%

The trailing-twelve-month row is worth reading carefully. Trailing revenue of ₹1,020 crore is already running above the full FY26 figure of ₹942 crore, and trailing EPS of ₹47.4 across 4.35 crore shares implies about ₹206 crore of trailing profit. That is consistent with the 20.3% trailing net margin, so the company entered this period at a record revenue run-rate with margin holding near its FY26 level rather than giving it back.

Longer-horizon figures, taken from a Screener-derived reading captured on 5 August 2026, put five-year sales growth at 13.53% compounded and five-year profit growth at 17.31% compounded, with operating margin of 24.27%. Note the tension between the two windows: over five years revenue compounded in the low teens, over the most recent three it compounded below 7%. Either the five-year number includes a stronger earlier stretch, or the recent period contains a pause. Both readings are in the data, and a forecast that only uses the flattering one is not a forecast.

Recent revenue cadence, and what is not in this article

Three consecutive quarterly revenue figures were captured, labelled on Yahoo Finance’s calendar convention. They are shown here as a sequence, not as a results analysis.

Quarter label	Revenue
4Q2025	₹237 Cr
1Q2026	₹273 Cr
2Q2026	₹247 Cr

Only revenue was captured for these quarters. No quarterly operating profit, margin, tax or per-share figures were, which is why this page carries no quarterly-results section and no quarterly earnings commentary. The one thing the sequence does show is that quarters are not smooth: the middle quarter is about 15% above the first and the third is roughly 10% below the middle. In a business tied to vehicle programmes and export shipments, that lumpiness is normal, and it is a reason to judge the company on annual rather than sequential numbers.

Yahoo also reports year-on-year growth fields of 24.7% for revenue and 37.9% for earnings. Those are computed on its own trailing basis and do not match the FY26-versus-FY25 annual step of about 15% revenue growth and 36% profit growth. Both are in the source; they measure different windows.

The balance sheet is the quiet part of the case

Balance-sheet and ownership measure	Reading at capture	Why it matters
Total debt	₹8 Cr	Effectively unlevered
Total cash	₹258 Cr	Net cash of about ₹250 Cr against a ₹3,262 Cr market value
Debt to equity	0.69%	Interest cost is not a variable in the earnings model
Book value per share	₹260.67	Price to book of 2.88
EBITDA	₹251 Cr	EV of about ₹3,012 Cr against this, or 12.0 times; the 5 August reading showed 11.4
Return on equity	18.37%	Achieved without leverage, which makes it harder to earn
Return on capital employed	24.74%	Five-year average 20.16%, so the current figure is not a one-off
Dividend yield	0.81%	A real but small part of total return
Promoter holding	61%	Zero shares pledged

Two things follow. First, an ROE of 18.4% on a balance sheet with almost no debt is a better number than the same ROE achieved with borrowings, because none of it is manufactured by gearing. The gap between ROCE of 24.74% and ROE of 18.37% is largely what tax and a large idle cash pile do to the equity return. Second, roughly ₹250 crore of net cash sits inside a ₹3,262 crore market value, so about 8% of what an investor pays for is cash rather than operating business. That cash is also a question: it earns a deposit return while the core assets earn far more, which is why what management does with it is a genuine variable. If you want the mechanics of these two ratios, the guide on return on equity sets out how each is built and where each one misleads.

What moves the Mayur Uniquoters share price

Four things, roughly in order of how much they matter.

The first is automotive volumes, especially passenger vehicles and the programmes the company is qualified into. Coated fabric is a per-vehicle content business, so revenue tracks units built, not units sold at a showroom. Anything that moves OEM production schedules moves this company’s order flow with a lag. The same demand chain runs through the wider component sector, which is why Uno Minda and the assemblers such as Maruti Suzuki are useful cross-references when reading a quarter here.

The second is raw-material cost. Polymer and base-fabric inputs are petrochemical-linked. When input prices fall and selling prices are set against a contracted specification, margin expands; when inputs rise faster than the company can reprice, margin compresses. A large part of the FY23-to- FY26 margin move from 13.8% to 20.4% is likely to be this cycle rather than a permanent structural gain, and treating it as permanent is the single easiest mistake to make with this stock.

The third is export and replacement mix. Overseas programmes and higher- specification work carry better realisations than domestic footwear material. The fourth is the multiple itself. At 15.8 times earnings the stock does not need multiple expansion to work, but a micro-cap with a ₹3,262 crore market value can de-rate quickly when a cyclical end market slows, regardless of what the current year’s earnings do.

Why the multiple fell between two readings

It is worth showing what happened between the two capture dates available here, because it explains why the same company can look differently priced five weeks apart.

Measure	5 August 2026 reading	10 September 2026 reading
Market capitalisation	₹3,377 Cr	₹3,262 Cr
Trailing EPS	₹43.98	₹47.40
Price to earnings	17.61	15.80
Price to book	2.97	2.88
Dividend yield	0.65%	0.81%
Distance from 52-week high	-12.5%	-15.26%

Trailing earnings rose while the market value fell. The de-rating from 17.6 times to 15.8 times therefore came from both directions at once, which is the normal pattern when a market decides that a recent earnings step is cyclical rather than structural. Whether that judgment is right is precisely the question the scenarios below are built to frame. The P/E ratio guide explains why a falling multiple on rising earnings is a signal about expectations, not about the quarter just reported.

Valuation framework

The scenario model starts with TTM EPS of ₹47.4. For each year it applies EPS_TTM × (1 + growth)^(year − 2026 + 112/365) × exit P/E, then rounds the result to the nearest ₹5. The 112/365 factor represents the fraction of the first forecast year remaining from 10 September to 31 December. Dividends are excluded.

Scenario	Annual EPS growth	Exit P/E	Business interpretation
Bear	6%	11×	The margin gain proves cyclical, input costs normalise upward and a slower auto cycle pulls the multiple down toward its historical low end
Base	12%	15×	Volume growth roughly in line with the five-year sales record, margin holding near current levels, and the multiple staying about where it is
Bull	16%	19×	Export and OEM mix keeps improving, the cash pile is put to work at group return levels and the market pays a modest premium for consistency

The growth rates are deliberately below the recent record. Profit compounded at about 21.5% over the last three years and 17.31% over five, but most of that came from margin expansion from 13.8% to 20.4%, and margin cannot expand by the same amount again from here. The multiples are anchored on the 15.8 times actually observed at capture, with the bear case below it and the bull case only modestly above. A framework that assumed both peak growth and a permanent re-rating would simply be an argument dressed as a model. The method behind this arithmetic is set out in full in how to value a stock.

Mayur Uniquoters share price target 2026 to 2030

The grid above is generated only from the trailing EPS, the three growth rates and the three exit multiples disclosed in the table before it. It does not model a change in share count, a capacity expansion and its funding, a large acquisition, a special dividend or buyback from the cash balance, currency translation on export revenue, exceptional items, or a shift in the automotive-to-footwear revenue mix. It also assumes constant growth in every year, which no cyclical supplier delivers. Treat each column as an arithmetic consequence of its stated assumptions, and update the assumptions when the next annual result changes them.

Risks that can break the thesis

The largest risk is that the margin story reverses. Net margin moved from 13.8% to 20.4% in three years on revenue that compounded below 7%. If polymer and base-fabric input costs rise while contracted selling prices lag, the same operating leverage runs backwards, and earnings can fall on flat revenue.

The second is cyclicality in the end market. Automotive OEM demand is tied to vehicle production schedules, which can be cut faster than a supplier can adjust capacity. Footwear and furnishings are discretionary. What makes that worse here is that coating capacity is fixed and qualification-specific: a line approved for one programme’s grain, colour and abrasion specification cannot simply be re-pointed at footwear or furnishing rolls when that programme is cut back, so a volume reduction lands on plant utilisation before the metres can be re-sold anywhere else. That is the mechanism by which a demand dip in one end market becomes a margin event rather than a revenue one.

The third is customer and geographic concentration. Long qualification cycles cut both ways: they protect an incumbent, and they mean the loss of one large programme cannot be quickly replaced. Export exposure to the United States and South Africa adds currency, freight and tariff variables that sit outside management’s control.

The fourth is capital allocation. ₹258 crore of cash earning a deposit return inside a business earning 24.74% on capital employed is a drag on ROE for as long as it sits there. Deploying it well would raise returns; deploying it into an unrelated business or leaving it idle indefinitely would not.

Finally, there is regulatory and substitution risk on the product itself. PVC and PU coated fabrics face tightening chemical and end-of-life regulation in export markets, and vehicle interiors are an active area for alternative materials.

What would strengthen or weaken the picture

The picture strengthens if revenue growth reaccelerates toward the five-year 13.53% rate while net margin holds near 20%, if export and OEM revenue grows faster than footwear, if the cash balance is deployed into capacity that earns close to the existing ROCE, and if ROCE stays above the 20.16% five-year average through a full input-cost cycle rather than only at its favourable point.

It weakens if margin retraces toward the mid-teens, if revenue stays in the mid-single digits for another two years, if working capital or receivables grow materially faster than sales, if promoter holding falls or any pledge appears against the currently clean 61%, or if a large qualified programme is lost without a replacement being announced. Any of those would require the growth assumption in the framework above to be rebuilt, not merely nudged.

Monitoring scorecard

Question	Constructive evidence	Warning sign
Is revenue growth returning?	Annual revenue growth back into double digits	Another year near the recent sub-7% trend
Is the margin gain durable?	Net margin holds near 20% through an input-cost upcycle	Margin drifts back toward the FY24 level
Is the mix improving?	Export and automotive OEM revenue growing fastest	Growth concentrated in price-competitive footwear
Is capital being used?	Cash deployed into capacity or returned to shareholders	Cash balance rises with no stated purpose
Are returns holding?	ROCE stays above the 20.16% five-year average	ROCE falls toward the cost of capital
Is ownership stable?	Promoter holding steady at 61% with no pledge	Holding falls or pledged shares appear

The short version

Mayur Uniquoters is a small, unlevered, cash-rich manufacturer of coated fabrics with a genuine qualification barrier in automotive interiors, a mid-twenties return on capital employed and a five-year record showing that return is not a one-year accident. It is priced at 15.8 times trailing earnings and 2.88 times book, down from the 17.6 times it carried five weeks earlier, and about 15% below its own 52-week high.

The reason for that price is visible in the same data. Revenue has compounded below 7% over three years, and almost all of the profit growth came from a margin move that has a cyclical component. The question is not whether the business is good, because the return ratios settle that. It is whether the current earnings base is the new normal or the top of a cycle, and the honest answer is that four annual rows and three quarterly revenue figures are not enough to decide. For a general method of working through that kind of question, see the guide to fundamental analysis.

FAQ

What is Mayur Uniquoters’s share price target for 2026?

The 2026 row of the scenario grid applies only 112 days of compounding to trailing EPS of ₹47.4 before multiplying by each scenario’s exit P/E, so the three 2026 figures are driven far more by the multiple than by the growth rate. That makes 2026 essentially a statement about how the market chooses to price the current earnings base. It is a range of arithmetic outcomes, not a forecast of where the stock will trade.

What is Mayur Uniquoters’s share price target for 2030?

The 2030 row compounds trailing EPS forward by roughly four and a third years at each scenario’s growth rate and then applies that scenario’s exit multiple. Small differences in the assumed growth rate produce large differences by 2030, which is why the spread between the columns widens with each year. Read it as a sensitivity exercise on two assumptions, not as a price prediction.

What does Mayur Uniquoters do?

It manufactures and sells coated textile fabrics, including artificial leather and PU or PVC synthetic leather. Its material goes into footwear, furnishings, automotive OEM interiors, the automotive replacement market and automotive exports. The company was incorporated in 1992, is based in Jaipur, and sells in India, the United States, South Africa and other international markets.

Who are the promoters of Mayur Uniquoters?

The promoter group held 61% of the company at the date of these figures, with no shares pledged. Individual promoter names and the split within the group were not part of the data captured for this article, so check the latest shareholding pattern filed with the exchange for that detail. A stable 61% holding with a clean pledge record is one of the ownership signals worth tracking each quarter.

What is Mayur Uniquoters’s ticker symbol, and is it listed on both NSE and BSE?

The NSE symbol is MAYURUNIQ, which Yahoo Finance carries as MAYURUNIQ.NS, and every figure on this page comes from that line. A BSE scrip code was not among the data captured for this article, so if you need the BSE quote, confirm the code on the exchange’s own site rather than relying on this page. The live widget at the top of the article tracks the NSE symbol.

What drives Mayur Uniquoters’s share price?

Four things, in rough order: automotive production volumes in the programmes the company supplies, polymer and base-fabric input costs, the mix between higher-specification export and OEM work and more competitive footwear and furnishing material, and the multiple the market is willing to pay for a cyclical micro-cap. The first two set earnings, the third sets margin quality and the fourth sets how those earnings are capitalised.

Related research

• Uno Minda share price target
• Maruti Suzuki share price target
• How to value a stock
• P/E ratio: formula and meaning
• Return on equity explained
• Fundamental analysis of stocks

Sources and methodology

• Mayur Uniquoters on Screener.in
• Mayur Uniquoters quote and filings on NSE
• Mayur Uniquoters company website

The price of ₹748.95, the 52-week range, market capitalisation of ₹3,262 crore, trailing EPS of ₹47.4, book value of ₹260.67, the P/E of 15.80, price to book of 2.88, the dividend yield of 0.81%, the debt and cash balances, employee count, the four annual revenue and profit rows and the three quarterly revenue figures were all captured from Yahoo Finance for the completed session of 10 September 2026. The return ratios of 18.37% ROE, 24.74% ROCE and 20.16% five-year ROCE, the 24.27% operating margin, the five-year sales and profit CAGRs of 13.53% and 17.31%, the EV/EBITDA of 11.4 and the PEG of 1.02, and the promoter holding and pledge figures come from a Screener-derived reading captured on 5 August 2026, which is also the source of the comparison table in this article. The EV/EBITDA multiple in particular belongs to that earlier reading and has not been recomputed against the later market value, which is why it is date-stamped wherever it appears.

One limitation should be stated plainly: no Screener financial statement tables were captured for this company. The multi-year revenue and profit figures therefore come from Yahoo Finance’s annual rows, which are labelled by the calendar year in which the March financial year ended, and the longer-run CAGRs and return ratios come from the 5 August reading. No quarterly profit, margin or per-share figures were captured, so none appear here and none were estimated. Where the two sources disagree, they are shown side by side rather than blended: Yahoo’s 19.1% operating margin and the 24.27% operating margin in the Screener-derived reading are computed on different definitions, and neither has been adjusted to match the other.

Analytical judgment begins at the point where these figures are interpreted. The description of qualification barriers in automotive interiors, the attribution of the FY23-to-FY26 margin expansion partly to the input-cost cycle, the reading of the net cash balance as a drag on return on equity, the choice of growth rates and exit multiples in the scenario table, and every risk listed above are interpretation, not reported fact.

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This article is research and education, not personalised investment advice or a recommendation to transact. Gale is not a SEBI-registered investment adviser. The scenarios are illustrations, not guarantees. Verify current exchange filings, liquidity, corporate actions and suitability, and consult a registered adviser before acting.