| P&L Statement | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | 1747.89 | 2175 | 2252 | 2301 |
| Cost of Material Consumed | 947.97 | 1200 | 1174 | 1277 |
| Change in Inventory | -36.8 | -52 | 44 | -60 |
| Gross Margins | 47.87 | 247 | 45.91 | 47.11 |
| Employee Benefit Expenses | 207.97 | 541 | 290 | 350 |
| Other Expenses | 426.01 | 239 | 537 | 630 |
| EBITDA | 202.74 | 47.22 | 207 | 104 |
| OPM | 11.6 | 10.99 | 9.19 | 4.52 |
| Other Income | 48.34 | 30 | 57 | 54 |
| Finance Cost | 13.19 | 28 | 26 | 58 |
| D&A | 62.8 | 67 | 74 | 128 |
| EBIT | 139.94 | 172 | 133 | -24 |
| EBIT Margins | 8.01 | 7.91 | 5.91 | -1.04 |
| PBT | 175.07 | 174 | 164 | -27 |
| PBT Margins | 10.02 | 8 | 7.28 | -1.17 |
| Tax | 42.85 | 56 | 42 | -20 |
| PAT | 132.22 | 118 | 122 | -7 |
| NPM | 7.56 | 5.43 | 5.42 | -0.3 |
| EPS | 117.32 | 104.7 | 108.25 | -6.21 |
| Financial Ratios | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating Profit Margin | 11.6 | 10.99 | 9.19 | 4.52 |
| Net Profit Margin | 7.56 | 5.43 | 5.42 | -0.3 |
| Earning Per Share (Diluted) | 117.32 | 104.7 | 108.25 | -6.21 |
| Assets | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Fixed Assets | 478.16 | 442 | 1275 | 1249 |
| CWIP | 140.93 | 604 | 37 | 42.5 |
| Investments | 366.74 | 144 | 178 | 108 |
| Trade Receivables | 165.28 | 175 | 215 | 202 |
| Inventory | 427.9 | 581 | 589 | 654.5 |
| Other Assets | 289.95 | 364 | 305 | 271 |
| Total Assets | 1868.96 | 2310 | 2599 | 2527 |
| Liabilities | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Share Capital | 11.27 | 11.27 | 11.27 | 11.27 |
| FV | 10 | 10 | 10 | 10 |
| Reserves | 1149.94 | 1237 | 1349 | 1346 |
| Borrowings | 295.1 | 595 | 722 | 702 |
| Trade Payables | 239.58 | 204 | 266 | 246 |
| Other Liabilities | 173.07 | 262.73 | 250.73 | 221.73 |
| Total Liabilities | 1868.96 | 2310 | 2599 | 2527 |
| Cash-Flow Statement | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| PBT | 175.07 | 174 | 164 | -27 |
| OPBWC | 222 | 265 | 225 | 125 |
| Change in Receivables | -13.94 | -10 | -38 | 13 |
| Change in Inventories | -82.2 | -153 | -8 | -65 |
| Change in Payables | 54.96 | -44 | 64 | -20 |
| Other Changes | -51.89 | 187 | 61 | 48 |
| Working Capital Change | -93.37 | -20 | 79 | -24 |
| Cash Generated From Operations | 128.63 | 245 | 304 | 101 |
| Tax | -54.08 | -61 | -34 | -8 |
| Cash Flow From Operations | 74.55 | 184 | 270 | 93 |
| Purchase of PPE | -170.49 | -467 | -354 | -94.5 |
| Sale of PPE | 2.89 | 1 | 1 | 0.8 |
| Cash Flow From Investment | -126.36 | -459 | -354 | -19 |
| Borrowing | -126.19 | 292 | 135 | -36.8 |
| Dividend | -6.7 | -10 | -10 | -5.5 |
| Equity | 0 | 0 | 0 | 0 |
| Others From Financing | -58.84 | -36 | -31 | -59.7 |
| Cash Flow from Financing | 60.65 | 246 | 94 | -102 |
| Net Cash Generated | 8.84 | -29 | 10 | -28 |
| Cash at the Start | 23.5 | 33 | 5 | 14 |
| Cash at the End | 32.34 | 4 | 15 | -14 |
Merino Industries Limited is a leading Indian manufacturer known for its excellence in laminates, surface solutions, and interior design materials. Over the years, the company has built a strong global reputation for delivering high-quality products including laminates, panels, restroom solutions, plywood, and performance-oriented surface technologies. With a focus on innovation, sustainability, and world-class manufacturing, Merino has expanded its presence across several international markets while maintaining a robust domestic footprint. The company’s state-of-the-art production units, adherence to global quality standards, and continuous investment in R&D have positioned it among the most trusted brands in the architectural and interior solutions industry.
The unlisted shares of Merino Industries attract considerable investor interest due to the company’s stable financial performance, strong market presence, and leadership in a niche yet fast-growing segment. The laminates and interior solutions market in India is witnessing rapid expansion driven by rising urbanization, increasing real estate development, and a growing preference for branded décor products. Merino’s diversified product portfolio and long-standing relationships with architects, builders, contractors, and retail customers give it a competitive advantage. Additionally, its global distribution capabilities and brand credibility contribute to steady revenue streams. While unlisted share prices fluctuate based on availability and investor sentiment, Merino is generally viewed as a fundamentally strong, professionally managed company with long-term growth potential.
Looking ahead, Merino Industries is well-positioned to benefit from India’s construction and interior design boom. The company continues to explore new markets, invest in eco-friendly manufacturing, and introduce advanced surface technologies to strengthen its product offerings. Its focus on sustainable materials, digital design tools, and value-added décor solutions further enhances its competitive edge. For investors, the unlisted shares offer an opportunity to participate in a stable, growing manufacturing business backed by strong brand equity and long-term market demand. However, as with all unlisted investments, considerations like liquidity constraints and longer holding periods should be kept in mind. Overall, Merino Industries stands out as a promising player within India’s evolving building materials and décor solutions space.
Q:1 How do I book Merino Industries Limited Unlisted Shares?
Answer: You can book Merino Industries Limited Unlisted Shares by confirming your order with us at the trading price.
Q:2 What documents do I need to provide for purchasing unlisted shares?Answer: You need to provide your client master report (CMR), PAN Card, and a cancelled cheque if you are not transferring funds from the bank account mentioned in the CMR.These are KYC documents required as per SEBI regulations.
Q:3 How do I transfer funds for my share purchase?Answer: You will need to transfer funds to the bank account that we will provide.The payment must be made via RTGS, NEFT, IMPS, or cheque transfer.
Q:4 Can I pay for the shares in cash?
Answer: No, cash deposits are not allowed.All payments must be made through bank transfers or cheque.
Q:5 From which account should the payment be made?
Answer: The payment must be made from the same bank account where the shares will be credited.
Q:6 What happens if I don't have a client master report?
Answer: If you do not have a client master report, you can ask your broker to provide it for you.
Q:7 Is there a specific payment method I need to use?
Answer: Yes, payments should be made through RTGS, NEFT, IMPS, or by cheque transfer only.Cash deposits are not accepted.
Q:8 What is the purpose of providing a cancelled cheque?
Answer: A cancelled cheque is required as part of the KYC documentation to verify your bank account details for the transaction.