SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Merritronix Ltd (544773)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544773 NSE: Electronics - Components | Small Cap | Merritronix Share Price

₹327.70 15.60 (5.00%)

As on 10-Jun'26 16:59

Merritronix Ltd (544773)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544773 NSE: Electronics - Components | Small Cap | Merritronix Share Price

₹327.70 15.60 (5.00%)

As on 10-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹573 Cr.
Current Price
₹327.7
52-Week Low / High
₹283 / 328
TTM EPS
₹9.2
TTM Sales
₹156 Cr.
Book Value per Share
₹70.4
P/E Ratio
35.58
Higher than its 5-year historical median
Industry PE
41.9
Price to Book (P/B)
4.65
Lower than its 5-year historical median
Price to Sales (P/S)
3.68
Higher than its 5-year historical median
EV/EBITDA
21.41
Higher than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
46.03%
Return on Capital Employed (ROCE)
41.15%
Return on Assets (ROA)
14.09%
Operating Profit Margin
17.6%
Net Profit Margin
10.33%
Gross Profit Margin
15.1%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
37.28%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
79.79%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
85.91%
Asset Quality
Promoter Holding
%
Pledged shares (%) of Promoter's holding (%)
%
Reserves
₹106 Cr.
Equity
₹17.5 Cr.
Face Value
₹10
All Time Low / High
₹283.10 / 297.25

Merritronix stock performance

Key Ratios
mw4me loader

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Merritronix Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 9.4%30.4%51.3%41.2%-
Value Creation
Index
-0.31.22.71.9-

Growth Parameters

Sales 53.285.7114156156
Sales YoY Gr.-61.2%32.5%37.3%-
Adj EPS 0.52.87.912.69.2
YoY Gr.-515.6%185.6%59.2%-
BVPS (₹) 4.77.515.541.670.4
Adj Net
Profit
0.538.616.116
Cash Flow from Ops. 1.14.5-6.6-23.4-
Debt/CF from Ops. 12.83.5-2.8-1.9-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales NANA43.1%37.3%
Adj EPS NANA203.6%59.2%
BVPSNANA106.6%168.7%
Share Price - - - -

Key Financial Parameters

Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
9.545.468.84616.5
Op. Profit
Mgn %
3.57.713.317.6NAN
Net Profit
Mgn %
0.93.57.610.310.3
Debt to
Equity
2.61.91.10.8-
Working Cap
Days
02092062230
Cash Conv.
Cycle
035711420

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'23Mar'24Mar'25Mar'26
Sales5386114156
Operating Expenses + 517998129
Manufacturing Costs1122
Material Costs477593122
Employee Cost 1112
Other Costs 2233
Operating Profit 271527
Operating Profit Margin (%) 3.3%7.7%13.3%17.5%
Other Income + 0000
Exceptional Items 0000
Interest 1234
Depreciation 0000
Profit Before Tax 141223
Tax 0147
Profit After Tax 03916
PAT Margin (%) 0.8%3.6%7.6%10.3%
Adjusted EPS (₹)0.42.88.012.6
Dividend Payout Ratio (%)0%0%0%0%

Valuation of Merritronix - Standalone

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 581753
Share Capital 11113
Reserves 471540
Debt +12151742
Long Term Debt7655
Short Term Debt691236
Minority Interest0000
Trade Payables21391524
Others Liabilities 662535
Total Liabilities 446874154

Fixed Assets

Net Fixed Assets +4446
Gross Block99912
Accumulated Depreciation5556
CWIP 0000
Investments 0000
Inventories10334071
Trade Receivables23112037
Cash Equivalents 14226
Others Assets 516815
Total Assets 446874154

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 15-7-23
PBT 141223
Adjustment 1224
Changes in Working Capital -0-2-20-47
Tax Paid -0-0-1-4
Cash Flow From Investing Activity + -5-24-3
Capex -5-2-0-3
Net Investments 0000
Others 0050
Cash Flow From Financing Activity + 40141
Net Proceeds from Shares 00020
Net Proceeds from Borrowing 0-1-10
Interest Paid -1-2-2-3
Dividend Paid 0000
Others 52424
Net Cash Flow 03-115

Financial Ratio

PARTICULARSMar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)8.1745.8269.2146.03
ROCE (%)9.4230.3951.2541.15
Asset Turnover Ratio1.211.531.591.36
PAT to CFO Conversion(x)N/A1.67-0.78-1.44
Working Capital Days
Receivable Days158.507350.7066.60
Inventory Days67.5092.30117.60129.90
Payable Days159.50146.30106.3058.20

Management X-Ray

Shareholding Pattern

No Data To Display

Promoter's Holding & Share Pledging

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Merritronix Ltd FAQs

The current trading price of Merritronix on 10-Jun-2026 16:59 is ₹327.7.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 09-Jun-2026 the market cap of Merritronix stood at ₹573.0 Cr

The latest P/E ratio of Merritronix as of 09-Jun-2026 is 35.58.

The latest P/B ratio of Merritronix as of 09-Jun-2026 is 4.65.

The 52-week high of Merritronix is ₹327.7 and the 52-week low is ₹283.1.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Merritronix is ₹156 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Merritronix Ltd is a below average quality company.

The key valuation ratios of Merritronix Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Merritronix Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Merritronix Ltd

Merritronix was incorporated on October 14, 1988 as ‘Merritronix Private Limited’, a private limited company. Thereafter, the company was converted into a public limited company pursuant to a resolution passed by the shareholders at an Extraordinary General Meeting held on January 06, 2025, and consequently the name of the company was changed to ‘Merritronix LTD.’ 

The company is an Electronics Systems Design and Manufacturing services (ESDM) company specializing in high-reliability, mission-critical electronic assemblies and systems for defence, aerospace, telecommunications, Rapid Prototyping for design houses OEMs, Engineering services Companies and specialized industrial electronics. It is primarily engaged in business-to-business (B2B) electronic manufacturing services, encompassing component sourcing, printed circuit board (PCB) assembly, system integration, testing, box-build solutions and delivery of finished electronic products - executed to the quality standards required by India's strategic defence and aerospace programmes. This integrated manufacturing and design support capability enables the company to serve industries that require reliable and performance-oriented electronic systems.

A key part of the manufacturing process is Surface-Mount Technology (SMT), which involves assembling electronic components directly onto the surface of printed circuit boards (PCBs) using automated placement systems and controlled reflow processes. Its SMT capabilities support the use of advanced and miniaturized components required in defence, aerospace and industrial electronic systems. The largely automated nature of the SMT process - including solder paste printing, automated component placement and controlled reflow soldering - enables consistent quality and precision. The company derives its revenue from a diversified set of business segments, namely job work, turnkey manufacturing/build-to-print, obsolescence management (including obsolete component procurement and engineering support) and trading sales. 

Business area of the company 

The company is engaged in the business of manufacturing and assembly of electronic components, including engineering design and development services. Its specific focus is in turnkey electronics manufacturing and obsolescence engineering management. Its offerings primarily cater to customers in the defence, aerospace, industrial electronics, and scientific research sectors. 

Business verticals of the company

  • Job work: Under this segment, customers provide complete product designs and the required materials, while the company undertakes manufacturing and assembly operations on their behalf. Its scope of work includes PCB assembly, soldering, testing, and subassembly activities, all performed in accordance with customer specifications and quality requirements.
  • Turnkey Manufacturing/Build-to-Print: Under this segment, the company undertake end-to-end execution of electronic products. This includes understanding and translating customer requirements into system architecture and detailed designs, (including design support, where required), sourcing and qualifying components, executing PCB assembly and full system integration, performing functional and reliability testing, and delivering a fully validated, ready-to-deploy product.
  • Obsolete Components Procurement/ Engineering & Design: Under this segment, the company helps customers extend the useful life of their electronic systems and ensure continued support as per their operational requirements by combining its knowledge of older systems with modern design and manufacturing capabilities.
  • Trading Sales: Under this segment, the company procures electronic and electromechanical components from authorized global suppliers and sell them directly to customers. This activity is primarily undertaken to mitigate supply chain risks and reduce lead times, particularly for critical components, which could otherwise disrupt production schedules and delay project execution.

Awards, accreditations and recognition 

  • 1998-1999: The company’s promoter D. Amarnath, received award from Government of Andhra Pradesh, Department of Industry & Commerce as State Awards to Small Scale Entrepreneurs - Special S.C. Prize.
  • 2001: The company’s promoter D. Amarnath, received award from Government of India, Ministry of SmallScale Industries for Small Scale Entrepreneur Special Award - SC/ST Entrepreneurs.
  • 2002: The company received award from MD(A), HAL Hyderabad for HAL Appreciation Trophy (Commemorating successful completion of IFF MKXII Transponder development & handing over of first IFFT Production Unit to first aircraft of Boeing PB I).
  • 2026: The company received award from U.S. India SME Council at Indosoft 26th Edition (International ICT Exhibition & Conferences) for the Excellence in Electronics Manufacturing.

History and milestones

  • 1988: Incorporation of Private Limited Company in the name of M/s. Merritronix Private Limited.
  • 1993: The company shifted its focus to the telecom industry, supplying telecommunication cable jointing kits for India’s landline network expansion.
  • 2006: The company expanded into the defence and aerospace sectors.
  • 2007 - 2008: The company transitioned towards turnkey manufacturing, offering end-to-end solutions from component sourcing to final product assembly, testing, and logistics.
  • 2007 - 2008: The company expanded exports to European markets, securing contracts by meeting stringent quality standards and cost expectations.
  • 2009: The company became an approved supplier for Bharat Electronics Limited.
  • 2012: The company has undertaken a strategic diversification into turnkey electronics solutions, wherein the company undertakes responsibility for the procurement of components, assembly, integration, and final testing of electronic products.
  • 2012: The company has also qualified as an approved supplier to Hindustan Aeronautics Limited (HAL).
  • 2012: Further, the company is engaged in the production and supply of mission-critical electronic systems and components intended for defence applications, in accordance with applicable regulatory and quality standards.
  • 2017: Gained recognition for handling intricate, high density PCB assemblies.
  • 2020: Despite pandemic disruptions, the company continued operations by delivering critical electronics to Honeywell Aerospace, strengthening relationships with defence and avionics clients, and initiating discussions for NADCAP Certification for aerospace projects.
  • 2022: The company further expanded into: Electronics Component Supply & Obsolescence Management.
  • 2022: The company became a registered vendor for CERN through TIFR.
  • 2022: The company began developing custom semiconductor solutions for defence applications, including drop-in replacements for obsolete Xilinx CPLDs and Airflow Sensors.
  • 2025:  Change in name from ‘Merritronix Private Limited’ to ‘Merritronix LTD.’ pursuant to conversion of the company from Private Limited to Public Limited Company.
  • 2025: The company obtained membership with the Global Electronics Association, reflecting its commitment to global standards and collaboration in the electronics industry.

You have 2 views remaining as a Guest User. To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×