Multibagger Stock: This producer of synthetic leather offers a 15-year return of 14,000%

Consider investing only Rs. 72,000 in a stock and receiving a Rs. 1 crore return after 15 years. Although it may seem impossible, multibagger stocks may provide such Return on Investments (ROI). Mayur Uniquoters Ltd. is the multibagger stock that we are discussing today. In essence, these companies are low-cost shares with strong fundamentals that guarantee a great return on investment.

The Mayur Uniquoters share price was about Rs. 4 in 2008. The Mayur Uniquoters shares ended at Rs 563 per share on October 12, 2023, up 0.46 percent. The stock now has a market value of Rs 2,475 crore.

This stock’s value has increased by an astounding 14,000 percent during the last 15 years. It implies that if an investor had bought 18,000 shares of this firm for Rs 72,000 in 2008, the current value of investments made in it would have topped Rs 1 crore. In particular, the Mayur Uniquoters stock has returned 36% thus far in 2018. However, the returns over the last year have been a touch slow, increasing by just 18%.

Synthetic leathers are produced by Mayur Uniquoters and are used to make clothing, shoes, and cars. 50% of the company’s revenues come from the automobile sector. The business offers synthetic leather to Mercedes and BMW as well as other premium automakers.

The largest participant in the industry globally and the market leader in India for synthetic leather is Mayur Uniquoters. Utilizing polyvinyl chloride, synthetic or fake leathers are created. It intends to double polyurethane sales in the next years.