Le Merite Exports Ltd - Stock Valuation and Financial Performance

BSE: 0 | NSE: LEMERITE | Textile | Small Cap

BSE Share Price
Not Listed

DeciZen - make an informed investing decision on Le Merite Exports

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Undervalued

3. Price Trend

e Merite Exports stock performance -

mw4me loader
P/E Ratio (SA):
22.35
Market Cap:
142.1 Cr.
52-wk low:
0
52-wk high:
0

Is Le Merite Exports Ltd an attractive stock to invest in?

1. Is Le Merite Exports Ltd a good quality company?

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

2. Is Le Merite Exports Ltd undervalued or overvalued?

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

3. Is Le Merite Exports Ltd a good buy now?

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

10 Year X-Ray of Le Merite Exports:

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.
Le Merite Exports Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 7%10.3%12.8%20.9%5.7%-
Value Creation
Index
-0.5-0.3-0.10.5-0.6-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 180217268526364364
Sales YoY Gr.-20.4%23.9%96%-30.8%-
Adj EPS 0.72412.22.72.7
YoY Gr.-182.6%106.7%202.7%-77.9%-
BVPS (₹) 0014.326.640.840.8
Adj Net
Profit
1.23.36.920.86.36
Cash Flow from Ops. -5-2.5-22.1-4418.4-
Debt/CF from Ops. -7.6-11.9-2.4-2.34.5-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NANA18.9%-30.8%
Adj EPS NANA11.5%-77.9%
BVPSNANANA53.2%
Share Price - - - 50.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
8.421.23359.696.6
Op. Profit
Mgn %
2.53.13.95.92.8NAN
Net Profit
Mgn %
0.71.52.641.71.8
Debt to
Equity
2.71.72.22.20.9-
Working Cap
Days
07787851560
Cash Conv.
Cycle
05560611040

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 18.89%

Net Profit is growing at healthy rate in last 3 years 11.46%

Debt to equity has declined versus last 3 years average to 0.86

Return on Equity has declined versus last 3 years average to 6.60%

Sales growth is not so good in last 4 quarters at 0.00%

Latest Financials - Le Merite Exports Ltd.

Standalone Consolidated
TTM EPS (₹) 2.7 1.8
TTM Sales (₹ Cr.) 364 377
BVPS (₹.) 40.8 39.9
Reserves (₹ Cr.) 72 70
P/BV 1.48 1.52
PE 22.35 33.13
From the Market
52 Week Low / High (₹) 0.00 / 0.00
All Time Low / High (₹) - / -
Market Cap (₹ Cr.) 142
Equity (₹ Cr.) 23.5
Face Value (₹) 10
Industry PE 27.9

Management X-Ray of Le Merite Exports:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Le Merite Exports

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23
Sales180217268526364
Operating Expenses 176210258495354
Manufacturing Costs10296
Material Costs166197236437326
Employee Cost 11142
Other Costs 812184420
Operating Profit 46103110
Operating Profit Margin (%) 2.4%2.9%3.9%5.9%2.8%
Other Income 11113
Interest 33244
Depreciation 00011
Exceptional Items 00000
Profit Before Tax 249289
Tax 01272
Profit After Tax 137216
PAT Margin (%) 0.6%1.5%2.6%4.0%1.7%
Adjusted EPS (₹)0.71.84.112.32.7
Dividend Payout Ratio (%)0%0%0%8%18%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 1417244596
Share Capital 2221723
Reserves 1216232872
Minority Interest00000
Debt38294810082
Long Term Debt11121
Short Term Debt3628479881
Trade Payables38121921
Others Liabilities 227123
Total Liabilities 575692177202

Fixed Assets

Gross Block44466
Accumulated Depreciation22233
Net Fixed Assets22232
CWIP 00007
Investments 11222
Inventories33101316
Trade Receivables34385912792
Cash Equivalents 1058842
Others Assets67122440
Total Assets 575692177202

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -5-2-22-4418
PBT 249289
Adjustment 00010
Changes in Working Capital -6-6-29-6612
Tax Paid 0-1-2-7-2
Cash Flow From Investing Activity 000-2-7
Capex 00000
Net Investments 00000
Others 000-2-7
Cash Flow From Financing Activity 1-2254623
Net Proceeds from Shares 000048
Net Proceeds from Borrowing 1-1100
Interest Paid 00000
Dividend Paid 0000-2
Others 0-12446-23
Net Cash Flow -4-53034
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)7.9820.0233.3660.249
ROCE (%)9.8113.8117.2428.217.8
Asset Turnover Ratio3.183.843.623.911.92
PAT to CFO Conversion(x)-5-0.67-3.14-2.13
Working Capital Days
Receivable Days69606564110
Inventory Days759814
Payable Days711151322

Le Merite Exports Ltd Stock News

Le Merite Exports Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Le Merite Exports on 01-Jan-1970 05:30 is ₹0.00.
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 01-Jan-1970 05:30 the market cap of Le Merite Exports stood at ₹142.1.
The latest P/E ratio of Le Merite Exports as of 01-Jan-1970 05:30 is 22.35.
The latest P/B ratio of Le Merite Exports as of 01-Jan-1970 05:30 is 1.48.
The 52-week high of Le Merite Exports is ₹0.00 and the 52-week low is ₹0.00.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Le Merite Exports is ₹364.1 ( Cr.) .

About Le Merite Exports Ltd

LE Merite Exports is an ISO 9001:2015 certified and engaged in manufacturing and trading of textile products namely cotton yarn, greige fabric and finished fabric for domestic and export sales. It deals in diversified product portfolio with capability to supply compact cotton yarn varying from counts NE 16/1 to NE 32/1 & NE 16/2 to NE 32/2 combed carded & double yarn that are used in various forms and for varied end uses. It also export sustainable - ecofriendly organic yarn and fabric to international textile and garment manufacturers. The company has been recognized as Three Star Export House by the Director General of Foreign Trade with a certificate valid from September 30, 2015 to September 29, 2020. Further, the company had made an application on September 29, 2021 for renewal of certificate.

The company is certified by some of the most reputed global certification agencies for its quality, environment consciousness, its processes and customer services such as ISO 9001:2015, OEKO-TEX Standard 100, Global Organic Textile Standard (GOTS) for 100% Organic cotton yarn and greige fabric. The company is also a registered member of Better Cotton Initiative (BCI) etc. The company is also contributing towards CSR activities as per the requirements of Companies Act, 2013.

Business area of the company

Le Merite Exports is engaged in the manufacturing and trading of textile products such as cotton yarn, greige fabric and finished fabric.

Major Events & Milestones:

  • 2003: The company was incorporated as a private limited company.
  • 2004: Change in name of the company from “Didwaniya Yarn Exports Private Limited” to “Le Merite Exports Private Limited”.
  • 2006: Change in control of the company from Didwaniya Family to Lath Family.
  • 2015: Conversion of company from private to public from “Le Merite Exports Private Limited” to “Le Merite Exports Limited”.

Key Awards, Achievements and Accolades

  • 2010: ISO 9001:2015.
    2013 -14: Has been awarded Gold Plaque the highest Exports of Cotton Yarn from TEXPROCIL.
  • 2013-14: A certificate & Award for Third Best Export Performance Merchant Exporter by Synthetic & Rayon Textiles Export Promotion Council SRTEPC).
  • 2014-15: A certificate & Award for Third Best Export Performance Merchant Exporter by Synthetic & Rayon Textiles Export Promotion Council (SRTEPC).
  • 2015-16: A certificate & Award for Third Best Export Performance Merchant Exporter by Synthetic & Rayon Textiles Export Promotion Council SRTEPC).
  • 2016-17: A certificate & Award for Third Best Export Performance Merchant Exporter by Synthetic & Rayon Textiles Export Promotion Council SRTEPC).
    2016 -17: First Award for the best Export Performance by Government of Maharashtra Industries Department Directorate of Industries.
  • 2017-18: A certificate from Federation of Indian Export Organization (FIEO) (Set up by Ministry of Commerce, Govt of India) for outstanding Export Performance in the category of Highest Foreign Exchange Earner – Maharashtra State – MSME.
  • 2017-18: Participation in TexTech Bangladesh International Expo.
  • 2018-19: A certificate & Award for Second Best Export Performance Merchant Exporter by Synthetic & Rayon Textiles Export Promotion Council SRTEPC.
  • 2021-22: A certificate from Oeko Tex for Griege woven fabrics made of 100% cotton exclusively produced from material certified according to Standard 100.
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