Le Merite Exports Ltd
Incorporated in 2003, Le Merite Exports Ltd. (LMEL) is engaged in manufacturing and trading textile products including cotton yarn, greige fabric, and finished fabric for domestic and export sales[1]
- Market Cap ₹ 117 Cr.
- Current Price ₹ 50.0
- High / Low ₹ 84.0 / 37.8
- Stock P/E 18.5
- Book Value ₹ 40.8
- Dividend Yield 2.00 %
- ROCE 8.69 %
- ROE 14.0 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 33.7%
Cons
- Company might be capitalizing the interest cost
- Debtor days have increased from 98.3 to 127 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
Sector: Textiles Industry: Textiles - Cotton/Blended
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|
| 180 | 217 | 268 | 525 | 364 | |
| 175 | 210 | 258 | 494 | 354 | |
| Operating Profit | 4 | 7 | 10 | 31 | 10 |
| OPM % | 2% | 3% | 4% | 6% | 3% |
| 1 | 0 | 1 | 1 | 3 | |
| Interest | 3 | 3 | 2 | 4 | 4 |
| Depreciation | 0 | 0 | 0 | 0 | 1 |
| Profit before tax | 2 | 4 | 9 | 28 | 8 |
| Tax % | 29% | 27% | 24% | 25% | 25% |
| Net Profit | 1 | 3 | 7 | 21 | 6 |
| EPS in Rs | 6.62 | 18.44 | 40.75 | 12.33 | 2.71 |
| Dividend Payout % | 0% | 0% | 0% | 8% | 18% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 19% |
| TTM: | -31% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 25% |
| TTM: | -70% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -31% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 34% |
| Last Year: | 14% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|
| 2 | 2 | 2 | 17 | 23 | |
| Reserves | 12 | 16 | 23 | 28 | 72 |
| 38 | 29 | 54 | 100 | 83 | |
| 5 | 10 | 14 | 31 | 23 | |
| Total Liabilities | 57 | 56 | 92 | 177 | 202 |
| 2 | 2 | 2 | 3 | 9 | |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 1 | 2 | 2 | 2 | 2 |
| 54 | 53 | 89 | 172 | 190 | |
| Total Assets | 57 | 56 | 92 | 177 | 202 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|
| -5 | -2 | -22 | -44 | ||
| 0 | -0 | -0 | -2 | ||
| 1 | -2 | 25 | 46 | ||
| Net Cash Flow | -4 | -5 | 3 | 0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|
| Debtor Days | 69 | 63 | 80 | 88 | |
| Inventory Days | 7 | 5 | 16 | 10 | |
| Days Payable | 7 | 15 | 18 | 16 | |
| Cash Conversion Cycle | 69 | 53 | 77 | 83 | |
| Working Capital Days | 78 | 62 | 89 | 90 | |
| ROCE % | 14% | 17% | 28% |
Products[1]
Yarn– Company manufactures a full range of Sustainable Cotton yarn - 100% Organic Cotton, Organic in conversion, blend of a minimum 5% organic, BCI, Recycled Cotton (GRS)/ RCS, Fair-Trade across various counts.
Greigi Fabrics - The fabric is made on Airjet, Sulzer Looms in commonly used weaves like Poplin, Twill, Drill, Satin, Oxford, Matte, Canvas & Herringbone in width from 47 to 130 inches.
Organic Products – 8-10% of company's volumes comprised sustainable & organic products and company targets to reach 50% by 2025. Co. is also one of the top exporters of ORGANIC (GOTS) CERTIFIED COTTON YARN from India. It is an OEKO-TEX STANDARD 100-certified company that upholds eco-friendly products conforming to all our conventional yarn & fabrics.