AR 2015 highlights:
India’s shares of worldwide footwear market is only about
7% as compared to China which caters to 72% of total world footwear
market. There is scope for significant growth of this industry in India.
The scope of creating additional employment opportunity in
this industry is also greater than even the automotive industry. All
that is required is proper thrust in this direction by the government.
In India the population, particularly young middle class population, is large and growing. This is expected to drive
demand and ensure continued economic growth.
This augurs well for the long term prospectus of the synthetic leather industry, in which Mayur is the leader. There is potential of 20% annual growth in this economy, to achieve the one trillion dollar mark in just seven years.
- The share of exports in the total turnover of the company increased consistently from 23.76% in the last financial year 2013-14 to 26.07%
in the current financial year 2014-15 and expected to continue with the growth of 20-25% in coming years.
Mayur proposes to establish a PU plant. The proposal has been made to the government of Rajasthan to use
the recycled waste water of Reengus. The Company is hopeful of getting the confirmation from the State Government very soon.
Recently Ford & GM in India stopped using synthetic leather imported from China and started buying from Mayur.
Mayur is expected to achieve at least 35% growth in revenue from domestic automotive market in the financial year 2015-16 and maintain this growth in the years to follow.
Your company is spending 10% to 15% of net profit on R&D activities.
The 40 bn domestic synthetic leather industry is currently dominated by unorganized players who account for more than 50% of the same. The balance comprises of organized players and Mayur is the largest of them with a capacity of 3.05 million linear meters per month
Mayur being a prominent player in leather industry capitalize the same and deriving 50% revenue from the footwear segment.
Automotive segment derives almost 35% of the
revenue of Mayur