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Sunday 23 December 2012

Stock Update: Mayur Uniquoters - Expect a flat H2FY13

In a recent interview the Chairman and MD S.K. Poddar has mentioned that the company expects a flat growth for H2FY13.

"During April-September period, the company has registered a net profit of Rs 20.4 crore. Given the current global conditions, we are expecting that we should be able to do the same in the next half of the fiscal. Off-take in the market is down," he said. On the firm's export performance, he said "given the global demand slowdown, the company is expecting a moderate growth."

Poddar said the artificial leather is substitute for natural leather and its fine designing and texture is attracting people's attention. "The industry is growing very fast in the country. I think, the market size of the synthetic leather industry must double in the next five years. The sector's growth is being driven by the increasing buying power of people and growing consumption,".  The cuurent market size is about Rs 4500 cr and should double in the next 5 years.

Talking about the problems being faced by the sector in India, he said China is dumping its cheap products in the country and urged the government to look into the issue to protect the interest of domestic players. 

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