Merino Industries Unlisted Shares
Merino Industries Ltd.
INE662B01017
Incorporation Date: 29-Jul-1965
Listing Status: DRHP Not Filed
About Merino Industries Unlisted Shares
Overview of Merino Industries Unlisted Shares
🏢 Company Overview
- Market Position: India’s market leader and top exporter of High-Pressure Laminates (HPL). Exports reach 60+ countries across North America, Europe, Asia, and the Middle East.
- Manufacturing Hubs: Operates advanced, state-of-the-art production facilities in Hapur (Uttar Pradesh), Rohad (Haryana), Hosur (Tamil Nadu), and Dahej (Gujarat).
- Distribution Network: Reaches end-users through a widespread national footprint of 4,000+ dealers and 2,000+ retail touchpoints.
- Credit Rating: Holds a CRISIL A+ / Stable / CRISIL A1 bank credit rating, underscoring its strong market profile and stable capital structure.
⚙️ Business Model & Verticals
- Interior Solutions (Core Revenue Driver ~90%):
- High-Pressure Laminates & Panels: Decorative laminates, compact laminates, post-forming laminates, acoustic panels, and anti-fingerprint surface boards.
- Plywood & Architectural Hardware: High-density moisture-resistant plywood, solid surfaces (Luvih, Meister), and restroom cubicle systems (Merino Restroom Solutions).
- Agro Business (~10% Combined with IT):
- Cold Storage & Farming: Backward-integrated agricultural infrastructure, cold storage logistics, and tissue-culture farming.
- Food Processing (Vegit Brand): Manufactures dehydrated potato flakes and ready-to-eat consumer snack mixes.
- IT Services & Consulting:
- Operates via its subsidiary, Merino Services Limited, delivering enterprise resource planning (ERP), SAP consulting, and digital transformation solutions to global clients.
👥 Management Structure
- Rup Chand Lohia: Executive Chairman
- Prakash Lohia: Managing Director
- Prasan Lohia: Whole-Time Director
- Ruchira Lohia: Whole-Time Director
- Board Members: Includes experienced directors such as Nripen Kumar Dugar and Titu Prasad Kooretti.
📊 Financial Highlights & Performance
| Metric | Performance / Scale |
| Operating Revenue | Scaled to ₹2,544 crore – ₹2,572 crore, up from ~₹2,279 crore. |
| Net Worth | Exceeds ₹1,300+ crore. |
| Gearing & Capital Structure | Comfortable debt-to-equity ratio of ~0.42x to 0.5x, maintaining moderate leverage against long-term bank debt. |
| Liquidity Position | Supported by net cash accruals of ₹150–200 crore annually and liquid investments exceeding ₹100 crore. |
Insights of Merino Industries Unlisted Shares
Merino Industries Ltd. – Financial & Operational Analysis
Standalone Financial Snapshot (FY25 – FY26)
| Metric (in ₹ Cr.) | FY25 | FY26 | YoY Growth (%) | Margin FY25 (%) | Margin FY26 (%) |
| Net Revenue | 2,301.39 | 2,520.56 | +9.52% | — | — |
| EBITDA | 105.50 | 143.48 | +36.00% | 4.58% | 5.69% |
| Profit Before Tax (PBT) | -26.86 | 1.72 | Turnaround | -1.17% | 0.07% |
| Profit After Tax (PAT) | -7.32 | 0.33 | Turnaround | -0.32% | 0.01% |
Key Company Developments
- Profitability Turnaround: After facing bottom-line pressure and reporting a net loss in FY25 (-₹7.32 Cr), Merino Industries successfully executed a turnaround in FY26. This was driven by a 36% YoY expansion in EBITDA and a 9.52% increase in top-line revenue, allowing the company to post a marginal net profit of ₹0.33 Cr.
- Manufacturing Scale & Global Reach: Merino Group is one of India's largest manufacturers of decorative laminates, producing over 20 million sheets annually and maintaining a massive network of 16,000 dealers and retailers across 81 countries.
- Greenfield Expansion (Halol, Gujarat): The company is heavily investing in domestic capacity to support the 'Make in India' initiative. A major upcoming facility in Halol, Gujarat, is designed to produce 2,70,000 CBM of Particle Board and furniture annually, strategically aimed at transforming India from an importer to a net exporter of particle boards.
- Marquee Project Executions: Merino’s surface solutions and restroom cubicles have secured high-profile placements globally, including installations at the Statue of Unity, the Narendra Modi Stadium in Ahmedabad, and various stadiums built for the 2022 FIFA World Cup in Qatar.
Industry Insights & Trends
- Import Substitution in Engineered Wood: The Indian interior and architectural ecosystem is rapidly shifting away from imported Medium Density Fiberboard (MDF) and Particle Boards. Favorable trade policies and substantial domestic capacity additions by organized players are driving self-reliance in raw material supply for modular furniture.
- Real Estate & Premiumization Tailwinds: A sustained boom in residential and commercial real estate is fueling strong demand for both high-pressure laminates (HPL) and low-pressure laminates (LPL). Consumers and architects are increasingly prioritizing premium, value-added features such as anti-bacterial surfaces, exterior grade compacts, and luxury vinyl tiles.
- Shift from Unorganized to Organized Sector: The implementation of stringent quality standards and the rollout of digital supply chain tools (like SAP ERP implementations) are helping large, organized players capture market share from local, unorganized manufacturers, enhancing industry-wide transparency and competitiveness.
Financial Charts of Merino Industries Unlisted Shares
Balance Sheet of Merino Industries Unlisted Shares
Profit and Loss of Merino Industries Unlisted Shares
Ancillary of Merino Industries Unlisted Shares
Ratio Analysis
Peers
Industry Benchmarking
Segment Revenue
Subsidaries
Security Allotment
Corporate Governance
Team Management Details
FAQs of Merino Industries Unlisted Shares
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How to buy Merino Industries Ltd.?
Below are three ways through which you can purchase Merino Industries Ltd.:
- We at Altius Investech have many actively traded scripts and are market makers of unlisted shares. To check out all the unlisted shares traded. (Click on link). To submit a request to buy Merino Industries Ltd., please click on the trade button at the top of this page
- Additionally, you can download our app from your play store or app store, register on our application, and engage in active trading there.
Download the Altius App here https://onelink.to/hf4m72 - You can also reach out to us at : +91 8240614850 / +91 8240861716
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How to sell Merino Industries Ltd.?
Below are three ways through which you can sell Merino Industries Ltd.:
- We at Altius Investech have many actively traded scripts and are market makers of unlisted shares. To check out all the unlisted shares traded. (Click on link). To submit a request to sell Merino Industries Ltd., please click on the trade button at the top of this page
- Additionally, you can download our app from your play store or app store, register on our application, and engage in active trading there.
Download the Altius App here https://onelink.to/hf4m72 - You can also reach out to us at : +91 8240614850 / +91 8240861716
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What is the price of Merino Industries Ltd.?
We provide a two way quote on all the shares we deal in. Your buy price for Merino Industries Ltd. is ₹2775 and your sell price for Merino Industries Ltd. is ₹1500. The price is based on our estimates and market conditions.
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What is the lock-in period of Merino Industries Ltd.?
The lock-in period for Merino Industries Ltd. varies depending on the category of investors:
- For retail Investors, HNIs, or Body Corporates, the lock-in period is 6 months from the date of the listing of Merino Industries Ltd.
- For Venture Capital Funds or Foreign Venture Capital Investors, there is a lock-in period of 6 months from the date of acquisition of Merino Industries Ltd.
- For AIF-II (Alternative Investment Funds - Category II), there is no lock-in period
August 2021 saw the introduction of this regulation by SEBI. The purpose of the regulation change, which lowered the lock-in period from a year to six months, was to incentivize additional investments in firms getting ready for initial public offerings, or IPOs. Since its introduction, a number of Portfolio Management Services (PMS) have advised their clients to purchase Pre-IPO shares in order to take advantage of the advantages associated with early-stage investments. This reduction in the lock-in period is considered as a significant step forward.
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How is the Merino Industries Ltd. price calculated?
Fundamental & Comparative valuation models and the forces of demand and supply in the market for unlisted shares dictate the price. These prices are based on our estimates and transaction history of Merino Industries Ltd.. The price is also determined from the most recent funding round for Merino Industries Ltd.. This provides us with a benchmark valuation, offering a clear indication of the company's current market value as perceived by investors and industry experts.
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What are the lot sizes of Merino Industries Ltd.?
We can generally arrange lot sizes starting with an investment of INR 20,000. To confirm the lot sizes of Merino Industries Ltd. with us kindly click here.
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What are the financials of Merino Industries Ltd.?
The financials of Merino Industries Ltd. which includes the P/L of Merino Industries Ltd. and the Balance Sheet of Merino Industries Ltd. is in the financials section (Click on link).
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Where can I find the annual report of Merino Industries Ltd.?
The annual report of Merino Industries Ltd. is available in the annual report section (Click on link).
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Is buying Merino Industries Ltd. legal in India?
Yes, buying and selling unlisted shares in India is indeed 100% legal. This activity is regulated and governed under the guidelines provided by the Securities and Exchange Board of India (SEBI). Investors and traders must adhere to these regulations and guidelines to ensure compliance with legal and financial standards. It's important for participants in the unlisted share market to be aware of and understand these regulations to engage in transactions legally and securely.
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Short-term Capital Gain taxes to be paid on Merino Industries Ltd.?
When you sell unlisted shares within a period of two years from the date of acquisition, any profit earned from the sale is classified as Short-term Capital Gain (STCG). This gain is then added to your total income for that financial year. The tax on this short-term capital gain is calculated based on your applicable individual income tax slab rates. Therefore, the rate at which you will pay tax on the STCG from unlisted shares depends on your total income, including this gain, and the tax slab it falls under as per the prevailing income tax laws in India. It's important for investors to consider these tax implications when engaging in transactions involving unlisted shares.
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Long-term Capital Gain taxes to be paid on Merino Industries Ltd. and how are They Taxed?
Long-term Capital Gains (LTCG) on unlisted shares in India refer to the profits earned from the sale of unlisted shares that have been held for more than two years. The key aspects of LTCG on unlisted shares include:
- Tax Rate: LTCG on unlisted shares is taxed at a rate of 20%.
- Indexation Benefit: This is a significant advantage for investors. Indexation allows for adjusting the purchase price of the shares for inflation, which can reduce the taxable gain.
- Importance for Investors: Understanding LTCG is crucial, especially for High Net-worth Individuals (HNIs) and retail investors, as it impacts their investment strategy and tax planning. Knowing these details helps in making informed investment decisions.
- Calculation: LTCG is calculated by subtracting the indexed cost of acquisition (the purchase price adjusted for inflation) from the sale price of the shares. The profit thus calculated is subject to a 20% tax.
- Applicability: LTCG tax is applicable to profits from the sale of unlisted shares held for more than two years.
- Relevance: This tax is particularly relevant to investors in the unlisted share market, including those considering selling their holdings after a period of more than two years.
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Applicability of Taxes on Merino Industries Ltd. once it is listed?
When shares initially bought in the unlisted market become listed, the taxation rules change significantly if these shares are sold through a stock exchange. Here's what investors need to know:
Transition to Listed Market Tax Rates: Once unlisted shares are listed on the stock exchange and subsequently sold, the tax rates applicable to listed securities come into effect. This shift means that the favourable tax treatments for listed shares, as per the prevailing tax laws, will apply.
Taxation Based on Holding Period: The crucial factor in determining the type of capital gains tax (Long-term or Short-term) is the holding period of the shares. Importantly, this period is calculated from the original purchase date when the shares were unlisted.
Long-term vs. Short-term Capital Gains: If the shares are sold after being held for more than one year from the date of purchase (including the period when they were unlisted), they are subject to Long-term Capital Gains (LTCG) tax.
Conversely, if sold within one-year, Short-term Capital Gains (STCG) tax rates apply.
Significance for Investors: This information is vital for investors in the unlisted market, as it impacts their tax planning and decision-making process. Understanding these nuances ensures that investors can strategically plan the sale of their shares post-listing to optimize tax implications.
Advice for Investors: It's advisable for investors to keep a record of their purchase dates and monitor the listing dates closely. Additionally, staying updated with the latest tax regulations or consulting with a financial advisor is recommended for accurate tax calculations and compliance. -
How does Altius Investech source Merino Industries Ltd.?
At Altius Investech, our approach to sourcing Boat Unlisted Share (Imagine Marketing) involves a strategic and direct method. Primarily, we acquire these shares from the below key groups:
Employees of the Company: Employee stock option plans (ESOPs) or other compensation packages frequently include shares for firm employees. For a various reasons, such as including portfolio diversification or financial considerations, some of these employees may eventually choose to sell their shares. We engage with these employees, providing them a platform to sell their shares.
Initial Investors: These are the angel or early-stage investors who provided capital to the business in its early stages. These original investors may look to sell all or part of their ownership position in the company as it develops and flourishes. This might be done for various reasons such as in order to maximise their investment, reallocate resources, or make other calculated financial decisions.
Funding rounds and VC funds: Altius Investech sources the shares from private placement rounds in which private companies seek to obtain capital from the market. Through our platform, venture capital funds can liquidate their shares and we receive the inventory from them when they decide to sell a portion of their ownership through block trades.
By establishing connections with these groups, Altius Investech guarantees our clients a steady and dependable supply of Boat Unlisted Share (Imagine Marketing). This process not only makes it easier for employees and initial investors in liquidating their assets, but it also gives our clients access to shares that aren't often found on the open market. Our platform effectively facilitates a win-win situation for both buyers and sellers. -
How to trust Altius Investech before buying Merino Industries Ltd. from its platform?
Altius Investech stands at being India's fastest growing and leading marketplace for buying and selling unlisted shares. We believe in enabling access to alternative sources of investments at lower entry barriers to private equity investments.
With more than 25 years of experience, Altius Investech has carved a niche in the financial market by serving more than 8000 clients. The incredible journey is further highlighted by the vast number of transactions that Altius Investech has facilitated transactions that have already exceeded 300 crores.
For investors Altius Investech curates investment opportunities in companies at reasonable valuations which are on the verge of an IPO leading to massive value unlocking. Investments are backed by thorough research and sound investment thesis, with a time bound exit plan.
For ESOP Shareholder and existing Investors, we assist them to liquidate their shares even if they are not publicly traded by creating a platform where we find the right buyers and sellers for the best prices.
Altius Investech have been featured in top media news outlets like Economic Times, Financial Express, Money control. Check out about us on these - leading publications (Click on link) Our journey over these years has not just been about numbers; it's been about building trust and reliability.
We at Altius Investech are dedicated to upholding the greatest levels of ethics and transparency, making sure that your investment experience is not only profitable but also safe and reliable.
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