Mayur Uniquoters 2023 AGM Notes.
- Currently operating at 75-80% capacity utilization. Looking to operationalise a plant in Mexico for expansion. Currently looking for land there.
- OEM segment is growing really fast. Have good business for FY25 & FY26.
- Footwear segment is poised for good growth. Approaching big international brands in the footwear segment for approvals. Getting a good response from them. In the next 1-2 years we might get their business which is a high margin business.
- Export is a little subdued. Team is working hard to revive it.
- Import from China is a challenge. Government has imposed 10% ADD on PU from China.
- Today we are in a position to make any kind of PU cloth. Consultants from Taiwan & Europe are working with us.
- On senior position employees leaving the company: Attrition rate is high in India. Mayur is the leader in India and everybody wants to hire their employees.
- In the next 2 years we will make the company 100% professional.
- Spending a lot of money on R&D.
- Current visibility gives us confidence for better performance in the future.
- Believe in our core values.
- Believe in serving customer first
- Believe in investing in people and empowering them.
- Believe in constantly trying out new ideas.