BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Anand Rathi Report
Mayur Uniquoters Ltd.’s Q1 was weak as demand rose only in June. Demand in domestic automobiles/footwear will recover only gradually and exports would do better in FY21.
While the near term outlook is muted, we are positive on Mayur Uniquoters for the long term on the improving outlook:
1. good traction in the recently commissioned polyurethane (PU) plant, 2. talks of curbing imports of leather goods from China and 3. robust export opportunity through customer additions.
After a 20% run-up in the price of the scrip since our last update approximately 45 days ago, at approximately 10 times FY22e price to earning, we still believe good scope exists for a re-rating.
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