Merritronix Ltd
Incorporated in October 1988, Merritronix
Limited is an Electronics Systems Design
and Manufacturing (ESDM) company.[1]
- Market Cap ₹ 698 Cr.
- Current Price ₹ 399
- High / Low ₹ 484 / 283
- Stock P/E 43.4
- Book Value ₹
- Dividend Yield 0.00 %
- ROCE 41.1 %
- ROE 46.0 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 51.3%
Cons
- Debtor days have increased from 66.2 to 85.6 days.
- Working capital days have increased from 41.3 days to 64.2 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Industrial Manufacturing Industrial Products
Part of BSE SME IPO
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 16 | 53 | 86 | 114 | 156 | |
| 15 | 51 | 79 | 98 | 129 | |
| Operating Profit | 2 | 2 | 7 | 15 | 27 |
| OPM % | 9% | 3.6% | 8% | 13% | 17% |
| 0 | 0 | 0 | 0 | 0 | |
| Interest | 1 | 1 | 2 | 3 | 4 |
| Depreciation | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | 0 | 4 | 12 | 23 |
| Tax % | 5% | 39% | 29% | 30% | 30% |
| 0 | 0 | 3 | 9 | 16 | |
| EPS in Rs | 13.77 | 21.35 | 210.06 | 59.64 | 12.59 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 43% |
| TTM: | 37% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 273% |
| TTM: | 86% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 44% |
| 3 Years: | 51% |
| Last Year: | 46% |
Balance Sheet
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 1 | 1 | 13 |
| Reserves | 4 | 4 | 7 | 15 | 40 |
| 9 | 14 | 16 | 19 | 43 | |
| 11 | 24 | 44 | 39 | 58 | |
| Total Liabilities | 25 | 44 | 68 | 74 | 154 |
| 2 | 5 | 4 | 4 | 6 | |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| 23 | 39 | 64 | 70 | 148 | |
| Total Assets | 25 | 44 | 68 | 74 | 154 |
Cash Flows
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| -1 | 5 | -7 | -23 | ||
| -3 | -2 | 4 | -3 | ||
| 4 | 0 | 1 | 41 | ||
| Net Cash Flow | 0 | 3 | -1 | 15 | |
| Free Cash Flow | -4 | 2 | -7 | -26 | |
| CFO/OP | -39% | 74% | -36% | -72% |
Ratios
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 233 | 161 | 48 | 65 | 86 |
| Inventory Days | 304 | 76 | 163 | 156 | 213 |
| Days Payable | 295 | 159 | 192 | 58 | 73 |
| Cash Conversion Cycle | 242 | 78 | 19 | 164 | 226 |
| Working Capital Days | 154 | 51 | 9 | 51 | 64 |
| ROCE % | 10% | 30% | 51% | 41% |
Insights
In beta| Jan 2026 | |
|---|---|
| Bank Limit Utilization % |
|
| Number of Business Segments count |
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| Number of Named Major Customers count |
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| Promoter Industry Experience years |
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| Raw Material as % of Operating Income % |
Extracted by Screener AI
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
- Newspaper Advertisement with regard to AGM notice
-
Reg. 34 (1) Annual Report.
- Annual Report for FY2025-26 submitted to BSE under Regulation 34(1).
-
Board Meeting Outcome for Outcome Of The Meeting Of The Board Of Merritronix Ltd (''Company'') Held On 3Rd September, 2026
- Board approved AGM on 30 Sep 2026, auditor appointments, MD remuneration revision, and ₹7 crore working capital facilities.
- Announcement under Regulation 30 (LODR)-Newspaper Publication
Concalls
-
Jul 2026PPT
Business Profile:[1]
Merritronix is an Electronics Systems Design
and Manufacturing (ESDM) company focused
on high-reliability and mission-critical electronic assemblies and systems for defence, aerospace, telecommunications and industrial electronics. The company provides B2B electronics manufacturing services including component sourcing, PCB assembly, system integration, testing, box-build solutions and finished product delivery.