Mayur Leather Products Ltd (531680)
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, Mayur Leather's revenue was ₹0.0 Cr, and net profit ₹0.3 Cr (+24.0% year on year).
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹0.0 | — | — |
| Operating profit | ₹-0.1 | loss narrowed | loss widened |
| Net profit | ₹0.3 | +24.0% | +14.8% |
| EPS (₹) | 0.64 | +23.1% | +14.3% |
📢 Recent Corporate Announcements
Bonanza Portfolio has submitted a Draft Letter of Offer for an open offer to acquire up to 12,57,048 equity shares (representing 26.00% of voting share capital) of Mayur Leather Products Ltd. The offer is being made by Mr. Ghanshyam Hansrajani at a price of Rs 27.92 per share in cash. This follows a share purchase agreement triggering a change in control and management under SEBI Takeover Regulations. The proposed tendering period is scheduled to open on November 09, 2026, and close on November 23, 2026.
- Open offer to acquire up to 12,57,048 shares or 26.00% of total voting capital
- Offer price fixed at Rs 27.92 per equity share payable in cash
- Acquisition entails a formal change in control and management to acquirer Mr. Ghanshyam Hansrajani
- Tendering period scheduled from November 09, 2026, to November 23, 2026
Acquirer Ghanshyam Hansrajani has entered into a Share Purchase Agreement to acquire 12,81,257 shares (26.50% stake) of Mayur Leather Products Limited from existing promoters for ₹1.92 crore. The transaction triggered a mandatory open offer, leading to the publication of this Detailed Public Statement on September 22, 2026. The negotiated share purchase price is ₹15.00 per share, which stands at a sharp discount to the prevailing market price of ₹38.40. Bonanza Portfolio Limited is acting as the Manager to the Offer.
- SPA executed on September 15, 2026, to acquire 12,81,257 equity shares representing 26.50% of voting share capital
- Acquisition price fixed at ₹15.00 per share, aggregating to ₹1,92,18,855
- The target company has 48,34,800 total fully paid-up equity shares listed on BSE and CSE
- Trading turnover of 37,57,752 shares on BSE over the trailing 12 months reflects an annualized turnover of 77.72%
Individual acquirer Mr. Ghanshyam Hansrajani has entered into a Share Purchase Agreement (SPA) to acquire 12,81,257 equity shares (26.50% stake) of Mayur Leather Products Ltd from existing promoter sellers. The transaction is priced at ₹15.00 per share, amounting to an aggregate consideration of ₹1.92 crore. This acquisition triggers a mandatory open offer under SEBI (SAST) Regulations for public shareholders. Notably, the negotiated price of ₹15 per share is at a steep discount to the recent market trading price of ₹38.4.
- Acquisition of 12,81,257 shares representing 26.50% voting capital via SPA
- Agreed purchase price is ₹15.00 per share, totaling ₹1.92 crore (₹1,92,18,855)
- Acquirer Ghanshyam Hansrajani's certified net worth stands at ₹16.03 crore as of August 31, 2026
- BSE trading turnover during preceding 12 months was 77.72% of listed shares (37,57,752 shares traded)
Mayur Leather Products has recommended the appointment of Mr. Mahesh Bhatter as an Independent Director for a 5-year term effective October 1, 2026. Concurrently, the company accepted the resignation of its statutory auditor, M/s Jain Paras Bilala & Co, and proposed M/s YG & Associates as the new auditor for a 5-year period. These governance changes occur against a backdrop of zero TTM revenue and a small market capitalization of Rs 11 Cr. The 41st Annual General Meeting (AGM) is scheduled for September 25, 2026, to seek shareholder approval for these changes.
- Recommended appointment of Mr. Mahesh Bhatter as Independent Director for a 5-year term until September 2031
- Resignation of Statutory Auditor M/s Jain Paras Bilala & Co effective August 13, 2026, with no reported concerns
- Proposed appointment of M/s YG & Associates as new Statutory Auditor for a 5-year term starting FY 2026-27
- 41st Annual General Meeting scheduled for September 25, 2026, with a voting cut-off date of September 18, 2026
- Company reported Rs 0 Cr TTM revenue despite a market capitalization of Rs 11 Cr
Mayur Leather Products Ltd has announced a significant governance update, including the resignation of its Statutory Auditor, M/s Jain Paras Bilala & Co, effective August 13, 2026. The board has recommended M/s YG & Associates as the new Statutory Auditor for a five-year term and appointed Mr. Mahesh Bhatter, a Chartered Accountant, as an Independent Director for five years starting October 2026. These changes occur against a backdrop of zero TTM revenue and a significant decline in promoter holding from 64.01% in September 2025 to 40.69% in March 2026.
- Resignation of Statutory Auditor M/s Jain Paras Bilala & Co effective August 13, 2026.
- Proposed appointment of M/s YG & Associates as Statutory Auditor for a 5-year term until 2031.
- Appointment of Mr. Mahesh Bhatter as Independent Director for a 5-year term (Oct 2026 - Sept 2031).
- 41st Annual General Meeting (AGM) scheduled for September 25, 2026, with a cut-off date of September 18, 2026.
- Re-appointment of M/s Jain Kamal K & Associates as Internal Auditor for FY 2026-27.
Mayur Leather Products (Market Cap: ₹11 Cr) has recommended the appointment of M/s YG & Associates as Statutory Auditors for a five-year term (FY27-FY31) following the resignation of M/s Jain Paras Bilala & Co on August 13, 2026. The board also proposed appointing Mr. Mahesh Bhatter as an Independent Director for five years starting October 2026. These administrative changes occur against a backdrop of zero TTM revenue and a sharp decline in promoter holding from 64.01% to 40.69% within the last year. Shareholders will vote on these appointments at the 41st AGM scheduled for September 25, 2026.
- Recommended M/s YG & Associates as Statutory Auditors for a 5-year term until the 46th AGM in 2031
- Accepted the resignation of previous Statutory Auditor M/s Jain Paras Bilala & Co effective August 13, 2026
- Proposed appointment of Mr. Mahesh Bhatter as Independent Director for a 5-year term (2026-2031)
- Scheduled the 41st Annual General Meeting (AGM) for September 25, 2026, with a cut-off date of September 18, 2026
- Re-appointed M/s Jain Kamal K & Associates as Internal Auditors for the financial year 2026-27
Mayur Leather Products Ltd announced the resignation of its statutory auditor, M/s. Jain Paras Bilala & Co., effective August 13, 2026. The board has recommended M/s YG & Associates as the new statutory auditor for a five-year term (FY 2026-27 to 2030-31), subject to shareholder approval at the upcoming 41st AGM on September 25, 2026. Despite a market cap of ₹11 Cr, the company reported zero revenue for the TTM period and the last four quarters. Additionally, promoter holding has seen a sharp decline from 64.01% in June 2025 to 40.69% in March 2026.
- Resignation of Statutory Auditor M/s. Jain Paras Bilala & Co. effective August 13, 2026.
- Proposed appointment of M/s YG & Associates for a 5-year term until the 46th AGM in 2031.
- 41st Annual General Meeting (AGM) scheduled for September 25, 2026.
- Promoter holding dropped significantly by 23.32% over the last year to 40.69%.
- TTM Revenue remains at ₹0 Cr despite a reported PAT of ₹1 Cr, suggesting non-operational income.
Mayur Leather Products held a board meeting on August 13, 2026, to approve its Q1 FY27 financial results and address significant administrative changes. The company announced the resignation of its statutory auditor, M/s Jain Paras Bilala & Co, and recommended M/s YG & Associates for a five-year term starting from the upcoming 41st AGM. The AGM is scheduled for September 25, 2026, with a shareholder voting cut-off date of September 18, 2026. Given the company's micro-cap status (₹11 Cr) and zero TTM revenue, these governance transitions are the primary focus for stakeholders.
- Resignation of Statutory Auditor M/s Jain Paras Bilala & Co effective August 13, 2026.
- Recommendation to appoint M/s YG & Associates as Statutory Auditors for a 5-year term until 2031.
- 41st Annual General Meeting (AGM) scheduled for September 25, 2026, at 02:00 P.M.
- Cut-off date for determining shareholder eligibility for e-voting fixed as September 18, 2026.
- Proposed appointment of Mr. Mahesh Bhatter as Independent Director for a 5-year term starting October 1, 2026.
Mayur Leather Products Ltd held a board meeting on August 13, 2026, to approve Q1 FY27 results and address significant governance changes. The current statutory auditor, M/s Jain Paras Bilala & Co., resigned effective immediately, with the board recommending M/s YG & Associates for a five-year term starting FY27. The company also recommended the appointment of Mr. Mahesh Bhatter as an Independent Director for five years. These changes come as the company reports zero TTM revenue and a high debt-to-equity ratio of 1.23 on a small market cap of Rs 11 Cr.
- Statutory Auditor M/s Jain Paras Bilala & Co. resigned effective August 13, 2026, citing no material concerns.
- M/s YG & Associates recommended as new Statutory Auditors for a 5-year term (FY27 to FY31).
- 41st Annual General Meeting (AGM) scheduled for September 25, 2026, with a voting cut-off date of September 18, 2026.
- Mr. Mahesh Bhatter recommended as Independent Director for a term from October 1, 2026, to September 30, 2031.
- M/s Jain Kamal K & Associates re-appointed as Internal Auditors for the financial year 2026-27.
M/s. Jain Paras Bilala & Co. has resigned as the statutory auditor of Mayur Leather Products Ltd, effective August 13, 2026, or upon approval of Q1 FY27 results. The auditor cited its internal 'engagement continuance policy' for the exit, stating there were no disagreements with management. This resignation is notable as the company currently reports zero operational revenue (TTM Rs 0 Cr) and has seen promoter holding drop from 64.01% in September 2025 to 40.69% in March 2026. The auditor will complete the limited review for the quarter ended June 30, 2026, before the cessation.
- Resignation effective from August 13, 2026, or after Q1 FY27 results approval, whichever is later
- Auditor was originally appointed for a 5-year term until the 43rd AGM in 2028
- Promoter holding decreased by 23.32 percentage points between September 2025 and March 2026
- Company reported Rs 0.0 Cr revenue for the last four consecutive quarters (June 2025 - March 2026)
- Auditor confirmed no material concerns or disagreements were raised with the management
Mayur Leather Products Ltd has notified the exchange of a change in its official contact information under Regulation 30 of SEBI (LODR). The company has updated its primary email address to Mayura220488@gmail.com and its contact number to 7014261290. This is a purely administrative update and does not impact the company's financial position or business operations. Notably, the company currently reports zero revenue for the trailing twelve months despite a market capitalization of ₹11 Cr.
- Official contact number updated to 7014261290
- Primary email ID changed to Mayura220488@gmail.com
- Filing submitted under Regulation 30 of SEBI (LODR) Regulations, 2015
- Company maintains a market cap of ₹11 Cr despite ₹0 TTM revenue
Mayur Leather Products has scheduled a board meeting for August 13, 2026, to approve financial results for the quarter ended June 30, 2026. The company is a micro-cap with a market capitalization of ₹11 Cr and reported zero revenue for the trailing twelve months (TTM). Despite no operational revenue, it reported a TTM PAT of ₹1 Cr, likely from other income. Investors should note the sharp decline in promoter holding from 64.01% in September 2025 to 40.69% in March 2026.
- Board meeting scheduled for August 13, 2026, to approve Q1 results
- Financial results pertain to the quarter ended June 30, 2026
- Trading window closed from July 01, 2026, until 48 hours post-results
- Company currently reports ₹0 Cr in TTM revenue
- Promoter holding has decreased by over 23% in the last two quarters
Mayur Leather Products Ltd has issued a clarification regarding a board meeting outcome originally filed on August 14, 2025. The company noted a clerical error where the designations of two directors were interchanged. Mr. Manish Bihani is a Non-Executive, Non-Independent Director, and Mr. Vitthal Nawandhar is a Non-Executive, Independent Director. This administrative correction comes nearly a year after the original disclosure and has no impact on the company's financials or operations.
- Correction pertains to a Board Meeting outcome dated August 14, 2025
- Mr. Manish Bihani (DIN: 03466971) is confirmed as a Non-Executive, Non-Independent Director
- Mr. Vitthal Nawandhar (DIN: 07328750) is confirmed as a Non-Executive, Independent Director
- The company reported Rs 0 Cr revenue for the TTM period ending March 2026
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