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MERINO INDUSTRIES LIMITED

  • www.merinoindia.com
  • Sector: Building Materials
  • CHRYSEUM SCORE: 4.50/10.00
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    MERINO INDUSTRIES LIMITED

    • Sector: Building Materials
    • CHRYSEUM SCORE: 4.50/10.00

    Description: Merino Industries Limited is engaged in manufacturing and marketing of Decorative Laminates, Prelam Boards, Furniture, Potato Flakes, Acrylic Solid Surface and Agricultural Produce.

    Evaluation is basis the latest financial year disclosures filed by the company

    Valuation

    Max Score: 3.50

    P/E of Company

    -477.86

    AVG P/E of Key Peer/s

    92.95

    Valuation Score

    0.00

    The Valuation Score depicts if the company is available at a discount when compared to its listed/unlisted peers. Higher the discount, more is the score given to the company.

    Growth

    Max Score: 3.50

    Sales Growth

    9.69%

    PAT Growth

    NA

    ROE

    -0.54%

    Growth Score

    1.50

    The Growth Score accounts for the growth in Sales and PAT on a 3 year CAGR basis and the Company’s ROE as per the latest financial year results released by the company.

    Leverage

    Max Score: 1.50

    Debt / Equity

    0.52

    AVG Industry Debt / Equity

    0.95

    Leverage Score

    1.50

    Lower the Debt/Equity, higher the score.

    Management Quality

    Max Score: 1.50

    Board Structure & Composition

    1.00

    Related Party Transactions

    1.00

    Timely Disclosure

    1.00

    Management Score

    1.50

    This score represents a consolidated view of the Company’s Management Quality, which includes Board Structure, Related Party Transactions and Timely disclosures. Each parameter is scored out of 1.

₹2930.00 0.00 (0.00%)

As on 05 Dec, 2025
L 2830.00 52 Week Range H 3425.00
Company Description : Merino Industries Limited is engaged in manufacturing and marketing of Decorative Laminates, Prelam Boards, Furniture, Potato Flakes, Acrylic Solid Surface and Agricultural Produce.
Company Overview
  • Name of Company MERINO INDUSTRIES LIMITED
  • Sector Building Materials
  • ISIN INE662B01017
  • Scrip Code MERINO INDUSTRIES
  • CIN U51909WB1965PLC026556
  • Pan No AAACC9186C
  • Face Value 10
  • Price ₹ 2930.00
  • No. of Shares outstanding 1.12 Cr.
  • Market Cap ₹ 3,275.35 Cr
Financials
  • Revenue from operations ₹ 2,301.39 Cr.
  • EBITDA ₹ 159.09 Cr.
  • EBITDA Margin % 6.91%
  • Profit After Tax ₹ -7.32 Cr.
  • PAT Margin % -0.31%
  • EPS -6.55
  • Stock P/E -447.33
  • Book Value Per Share 1,213.90
  • P/B 2.41
  • Debt/Equity 0.52
Other Key Statistics
  • 52 week High/Low 3425.00/2830.00
  • Dividend Per Share 0.00
  • Dividend Yield 0.00%
  • Sales Growth - 3 years 9.69%
  • EBITDA Growth - 3 years -14.12%
  • PAT Growth - 3 years NA
  • EPS Growth - 3 years NA
  • ROE -0.54%
  • ROCE 2.00%
  • Cash Equivalents 3.61
All figures below are in INR Crores unless otherwise stated

Peer Comparison

Key Financials - FY25
Company Name Merino Industries Limited Greenlam Industries Limited
Listing Status Unlisted Listed
Revenue from Operations 2,301.39 2,569.34
Total Income 2,354.98 2,580.33
Finance Cost 57.87 65.48
Depreciation & Amortization 128.07 113.72
Total Expenses 2,381.83 2,473.94
EBITDA 159.09 285.59
PAT -7.32 68.35
No. of Shares Outstanding 1.12 25.51
EPS (in ₹) -6.55 2.68
Share Capital 11.28 25.51
Total Net Worth 1,356.98 1,125.25
Total Assets 2,526.86 2,908.62
Total Debt 702.50 1,075.09
Key Metrics:
CMP* 2,930.00 241.10
Market Cap (In Cr.) 3,275.35 6,150.46
Market Cap/Sales 1.39 2.38
EPS (Earnings Per Share) -6.55 2.68
BVPS (Book Value Per Share) 1,213.90 44.10
P/E -447.33 89.96
P/BV 2.41 5.47
EBITDA Margin 6.91% 11.12%
ROE -0.54% 6.07%
ROA -0.29% 2.35%
*Market Price in ₹ as on 05 Dec, 2025

Profit Loss

FY25 FY24 FY23 FY22 FY21
Revenue from operations 2,301.39 2,251.83 2,175.50 1,743.59 1,296.88
Y-o-Y Revenue Growth 2.20% 3.51% 24.77% 34.44% -12.00%
Other Income 53.59 57.29 29.91 48.54 41.98
Total Income 2,354.98 2,309.12 2,205.41 1,792.13 1,338.86
Total Expenses (Excludes Interest and Depreciation) 2,195.89 2,045.39 1,935.79 1,540.96 1,087.08
Operating Profit (After deducting Depreciation) 2,067.82 1,971.53 1,868.81 1,477.38 153.11
OPM % 89.85 87.55 85.90 84.73 11.81
EBITDA 159.09 263.73 269.62 251.17 251.78
Depreciation 128.07 73.87 66.98 63.58 56.69
EBIT 31.02 189.86 202.64 187.59 195.09
Interest 57.87 26.38 28.54 13.20 18.17
EBT before Exceptional Items -26.85 163.48 174.10 174.39 176.92
Prior period/Exceptional /Extra Ordinary Items 0.00 0.00 0.00 0.00 0.00
Profit before tax/EBT -26.85 163.48 174.10 174.39 176.92
Tax -19.53 41.94 56.46 43.03 45.06
Net Profit -7.32 121.54 117.64 131.36 131.86
Profit (loss) of minority interest 0.00 0.00 0.00 0.00 0.00
Total profit (loss) for period -7.32 121.54 117.64 131.36 131.86
EPS in Rs -6.55 108.72 105.24 117.52 117.96
EPS Change % -106.02% 3.31% -10.45% -0.37% 8.64%
EBITDA Change % -39.68% -2.19% 7.35% -0.24% 6.81%
Profit growth -106.02% 3.31% -10.44% -0.38% 3.06%
ROCE 2.00% 11.67% 12.94% 15.00% 17.58%
ROE -0.54% 8.93% 9.42% 11.47% 12.73%
Debt / Equity Ratio 0.52 0.53 0.48 0.26 0.13
Sales growth 3Years 9.69% 20.19%
Sales growth 5Years 9.32% 8.87%
Dividend per share 0.00 5.00 9.00

Balance Sheet

FY25 FY24 FY23 FY22 FY21
Share Capital 11.28 11.28 11.28 11.28 11.28
Reserves 1,345.70 1,349.05 1,237.13 1,133.81 1,024.85
Total shareholders' funds 1,356.98 1,360.33 1,248.41 1,145.09 1,036.13
Borrowings 702.50 722.28 594.62 295.10 137.17
Other Liabilities 155.05 151.95 236.13 133.73 117.98
Total Liabilities 1,169.89 1,238.57 1,061.63 700.07 475.21
Fixed Assets 1,319.08 1,351.70 529.48 542.85 513.54
Capital WIP 42.50 28.93 604.56 140.93 16.46
Investments 107.64 177.67 144.02 144.67 382.20
Other Assets 159.09 152.10 148.96 84.00 70.43
Total Assets 2,526.86 2,598.89 2,310.04 1,845.16 1,511.34
Cash Equivalents 3.61 20.65 16.13 90.26 23.91
Total Current liability 973.61 972.43 744.39 594.35 401.70
Total Assets -Total Current liabilty 1,553.25 1,626.47 1,565.65 1,250.81 1,109.64

Cash Flow

FY25 FY24 FY23 FY22 FY21
Net Cash from / (used in) Operating Activity 93.28 269.51 184.40 128.36 330.71
Net Cash from / (used in) Investing Activity -19.28 -354.22 -458.72 -219.00 -267.97
Net Cash from / (used in) Financing Activity -102.20 93.64 246.67 103.93 -71.02
Net Inc/Dec In Cash And Cash Equivalents -28.20 8.93 -27.66 13.28 -8.28

Share Holding Pattern

No. of Shares in Crs. % Holding
Promoters 1.06 95.23%
Non Promoters 0.05 4.77%

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