Merritronix Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹700 Cr
- P/E
- 43.49
- ROE
- 46.03%
- PEG
- 0.17
- Price to sales
- 4.49
- Debt to equity
- 0.81
- 52W high / low
- ₹506 / ₹283
- EBITDA margin
- 17.46%
- Net profit margin
- 10.33%
- Promoter holding
- 62.28%
- Sales (last year)
- ₹156 Cr
Incorporated in October 1988, Merritronix Limited is an Electronics Systems Design and Manufacturing (ESDM) company.[1]
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Manufacturing
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
Portfolio builder
Build your portfolio
from the top-ranked stocks
- 1. Pick 3–15 stocks
- 2. Choose large, mid or small cap and your sectors
- 3. Get a portfolio built from the rankings
Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Manufacturing companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹1,185 Cr | 109.0 | |
| 2 | 40%+ | Up 0–2% | ₹486 Cr | 29.9 | |
| 3 | 40%+ | Flat | ₹7,897 Cr | 92.3 | |
| 4 | 40%+ | Flat | ₹3,421 Cr | 74.4 | |
| 5 | 40%+ | Flat | ₹2,461 Cr | 58.4 | |
| 6 | 40%+ | Flat | ₹681 Cr | 40.0 |
Sign up free to see every company in the sector ranking and track Merritronix.
Pro shows every company guiding 40%+ revenue growth →Full Industrial Manufacturing rankingFinancials of Merritronix
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Merritronix
Shareholding breakup across reporting periods.
| Jun 2026 | |
|---|---|
| Promoters + | 62.28% |
| FIIs + | 2.50% |
| DIIs + | 7.86% |
| Public + | 27.37% |
| No. of Shareholders | 1,000 |
Pros & Cons
Merritronix
Key positives and risks surfaced from the company insights section.
- Jan 2026 Bank Limit Utilization % 87 Credit Rating - 23 Jan 2026 “Bank limit utilisation was moderate at 87% on average for the 12 months through October 2025” Page 1 · Source Number of Business Segments count 3 Credit Rating - 23 Jan 2026 “ML is engaged in manufacturing of printed circuit boards (PCBs) for defense appliations, trading of electronic equipments and manufacturing of obsolete components for defense as well as private companies” Page 1 · Source Number of Named Major Customers count 4 Credit Rating - 23 Jan 2026 “The customer base of Merritronix includes defence public sector undertakings as well as established private clients such as Hindustan Aeronautics Ltd, Bharat Dynamics Ltd, Honeywell, Apollo Microsystems” Page 1 · Source Promoter Industry Experience years 30 Credit Rating - 23 Jan 2026 “The promoters have experience of more than three decades in the electrical components and equipment industry” Page 1 · Source Raw Material as % of Operating Income % 82.50 Credit Rating - 23 Jan 2026 “Raw material cost accounts for 80-85% of the operating income” Page 1 · Source
- Jan 2026 Bank Limit Utilization % 87 Credit Rating - 23 Jan 2026 “Bank limit utilisation was moderate at 87% on average for the 12 months through October 2025” Page 1 · Source Number of Business Segments count 3 Credit Rating - 23 Jan 2026 “ML is engaged in manufacturing of printed circuit boards (PCBs) for defense appliations, trading of electronic equipments and manufacturing of obsolete components for defense as well as private companies” Page 1 · Source Number of Named Major Customers count 4 Credit Rating - 23 Jan 2026 “The customer base of Merritronix includes defence public sector undertakings as well as established private clients such as Hindustan Aeronautics Ltd, Bharat Dynamics Ltd, Honeywell, Apollo Microsystems” Page 1 · Source Promoter Industry Experience years 30 Credit Rating - 23 Jan 2026 “The promoters have experience of more than three decades in the electrical components and equipment industry” Page 1 · Source Raw Material as % of Operating Income % 82.50 Credit Rating - 23 Jan 2026 “Raw material cost accounts for 80-85% of the operating income” Page 1 · Source
Financials of Merritronix
Quarterly Results
Quarter-by-quarter operating performance
Financials of Merritronix
Profit & Loss
Annual income statement trend
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Sales + | 16 | 53 | 86 | 114 | 156 |
| Expenses + | 15 | 51 | 79 | 98 | 129 |
| Operating Profit | 2 | 2 | 7 | 15 | 27 |
| OPM % | 9% | 3.6% | 8% | 13% | 17% |
| Other Income + | 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% |
| Net Profit + | 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% |
Financials of Merritronix
Balance Sheet
Capital structure and asset base
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 1 | 1 | 13 |
| Reserves | 4 | 4 | 7 | 15 | 40 |
| Borrowings + | 9 | 14 | 16 | 19 | 43 |
| Other Liabilities + | 11 | 24 | 44 | 39 | 58 |
| Total Liabilities | 25 | 44 | 68 | 74 | 154 |
| Fixed Assets + | 2 | 5 | 4 | 4 | 6 |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 23 | 39 | 64 | 70 | 148 |
| Total Assets | 25 | 44 | 68 | 74 | 154 |
Financials of Merritronix
Cash Flows
Operating, investing and financing cash movement
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash from Operating Activity + | -1 | 5 | -7 | -23 | |
| Cash from Investing Activity + | -3 | -2 | 4 | -3 | |
| Cash from Financing Activity + | 4 | 0 | 1 | 41 | |
| Net Cash Flow | 0 | 3 | -1 | 15 | |
| Free Cash Flow | -4 | 2 | -7 | -26 | |
| CFO/OP | -39% | 74% | -36% | -72% |
Financials of Merritronix
Ratios
Working capital efficiency and return ratios
| 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% |
Continue your research
What Merritronix's management said in earlier quarters
Others in Industrial Manufacturing this season
- Jyoti CNC Automation (Q2 FY27)
Revenue from Operations for Q2FY27: INR 602 Cr, up 18.5% YoY from INR 507.9 Cr in Q2FY26 (Page 12). Key investor presentation takeaways from Jyoti CNC Automatio
- Walchandnagar Industries (Q2 FY27)
5,178 lakhs for the same quarter in the previous year, representing a year-on-year increase of approximately 80.6%. Key results statement takeaways from Walchan
- EPack PrefabTech (Q2 FY27)
Revenue from Operations for Q2 FY 2026 (quarter ended September 30, 2026) is ₹50,112.53 lakhs (Consolidated) and ₹50,101.15 lakhs (Standalone). Key investor pre
- Indef Manufactur (Q2 FY27)
4,784.86 lakhs (~0.66% increase). Key results statement takeaways from Indef Manufacturing Ltd's Q2 FY27 results statement — and how it ranks against sector pee