BSE: 544773 · ISIN INE1RQS01010
Merritronix Limited stock analysis
Merritronix Limited ranks #878 in the TickerSutra evidence-ranked universe with a score of 59/100 and 85% data confidence. The latest captured fundamentals show ROCE of 41.1%, quarterly sales growth of 0.0% and quarterly profit growth of 0.0%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- ROCE is 41.1%
- 43.3% three-year sales CAGR
- Institutional ownership is rising
- No promoter shares are reported as pledged
Risks and constraints
- Debt/equity is above 0.5×
- CFO/EBITDA is below 0.6×
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹16cr | ₹2cr | ₹0cr | 9.0% |
| 2023 | ₹53cr | ₹2cr | ₹0cr | 3.6% |
| 2024 | ₹86cr | ₹7cr | ₹3cr | 8.0% |
| 2025 | ₹114cr | ₹15cr | ₹9cr | 13.0% |
| 2026 | ₹156cr | ₹27cr | ₹16cr | 17.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Analysts/Institutional Investor Meet/Con. Call Updates
RoutineMerritronix Ltd - 544773 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeBSE · 25 Sept 2026Outcome of the investors meet
MANAGEMENT COMMENTARY
Signals from filed documents
Resilient, Diversified Base Non-government customers contribute ~92% of revenue, supported by a healthy order book and exports to Europe and the USA — reducing concentration risk. Corporate Overview Statutory Reports Financial Statements 26 26 MERRITRONIX LIMITED Annual Report 2025-26 27 BUILDING THE NEXT PHASE OF GROWTH Margin Expansion via Direct PSU Engagement Direct engagement with defence PSUs reduces intermedia
Aggregate annual installed capacity of approximately 2.095 million units across SMD, TMD and box-build sections. Corporate Overview Statutory Reports Financial Statements Annual Report 2025-26 61 FINANCIAL PERFORMANCE During FY2025-26, the Company delivered strong financial growth, reflecting robust demand for its mission-critical electronics, an increased scale of operations and improving operating leverage. Reven
OPERATIONAL PERFORMANCE During FY2025-26, Merritronix Limited delivered a strong operational performance, driven by robust demand for its mission- critical electronics, disciplined execution across programmes and continued investment in manufacturing capacity. The year was marked by capacity expansion, deep and repeat customer relationships and consistent execution, together strengthening the Company’s positioning wi
The Company’s obsolescence-management expertise addresses a structurally growing need across India’s large installed base of legacy systems, while diversification into adjacent high-reliability platforms further enhances its long-term growth potential. Threats The business remains exposed to fluctuations in raw-material and component prices and availability, changes in government and defence-procurement policies, pro
We closed the period with an order book of approximately ₹96 crore and a repeat customer rate of over 86%, reflecting the depth and stickiness of our customer relationships. With an aggregate installed capacity of approximately 2.1 million units and a new-generation Panasonic surface-mount line commissioned during the year, we further enhanced our ability to execute advanced, higher-complexity assemblies, while susta
Product quality and reliability remain central to its risk framework, supported by EN 9100:2018 certification, IPC-A-610 Class 3 compliant processes, automated inspection and testing (AOI, X-ray and functional testing) and stringent quality control from component selection to final validation. 64 64 MERRITRONIX LIMITED The Company also remains focused on managing regulatory, financial and business risks through sound
SECRETARIAL AUDITORS & AUDITORS’ REPORT During the financial year under review, the provisions relating to the appointment of a Secretarial Auditor under Section 204 of the Companies Act, 2013 were not applicable to the Company. COMPLIANCE WITH SECRETARIAL STANDARD The Company has Complied with the applicable Secretarial Standards (as amended from time to time) on meetings of the Board of Directors as issued by The I
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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