Merritronix
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Key Insights
Strengths
1- Company has a good return on equity (ROE) track record: 3 Years ROE 51.3%
Weaknesses
2- Debtor days have increased from 66.2 to 85.6 days.
- Working capital days have increased from 41.3 days to 64.2 days
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Bearish | 6 | 8 | 5 |
| Oscillators | Bearish | 2 | 6 | 1 |
| Moving Averages | Neutral | 4 | 2 | 4 |
Oscillators
Bearish
Overall
Bearish
Moving Averages
Neutral
Key readings
- RSI (14)
- 49.89
- Neutral
- MACD (12,26,9)
- 0.91
- Bearish
- SMA (50)
- 385.31
- Bullish
- SMA (200)
- —
- Neutral
As of
Growth Rate
From the financial statements below. 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025.
Revenue
| 3Y | +43.31% |
|---|---|
| 1Y | +36.84% |
Net profit
| 3Y | Zero base |
|---|---|
| 1Y | +77.78% |
Operating cash flow
| 3Y | Outflow widened by ₹22 Cr |
|---|---|
| 1Y | Outflow widened by ₹16 Cr |
Operating margin· change in pp
| 3Y | +13.54 pp |
|---|---|
| 1Y | +4.15 pp |
Trailing twelve months: The latest quarterly results are more than a year old.
Revenue by year
| Mar 2022 | ₹16.00 Cr |
|---|---|
| Mar 2023 | ₹53.00 Cr |
| Mar 2024 | ₹86.00 Cr |
| Mar 2025 | ₹114 Cr |
| Mar 2026 | ₹156 Cr |
Net profit by year
| Mar 2022 | ₹0.00 Cr |
|---|---|
| Mar 2023 | ₹0.00 Cr |
| Mar 2024 | ₹3.00 Cr |
| Mar 2025 | ₹9.00 Cr |
| Mar 2026 | ₹16.00 Cr |
Quarterly Results
₹ CrResults for the period ended Dec 2025 were due by 14 Feb 2026 and are not in this table yet.
| Particulars | Sep 2025 |
|---|---|
| Sales | 56 |
| Expenses | 48 |
| Operating Profit | 8 |
| OPM % | 15% |
| Other Income | 0 |
| Interest | 2 |
| Depreciation | 0 |
| PBT | 5 |
| Tax % | 30% |
| Net Profit | 4 |
| EPS (₹) | 3.24 |
Profit & Loss
₹ Cr| Particulars | 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 |
| PBT | 0 | 0 | 4 | 12 | 23 |
| Tax % | 5% | 39% | 29% | 30% | 30% |
| Net Profit | 0 | 0 | 3 | 9 | 16 |
| EPS (₹) | 13.77 | 21.35 | 210 | 59.64 | 12.59 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% |
Balance Sheet
₹ Cr| Particulars | 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 |
Cash Flow
₹ Cr| Particulars | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating | — | −1 | 5 | −7 | −23 |
| Investing | — | −3 | −2 | 4 | −3 |
| Financing | — | 4 | 0 | 1 | 41 |
| Net Cash Flow | — | 0 | 3 | −1 | 15 |
| Free Cash Flow | — | −4 | 2 | −7 | −26 |
| CFO/OP | — | −39 | 74 | −36 | −72 |
Ratios
| Particulars | 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% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Merritronix insights
54 extracted metrics across FY22–FY26.
Documents
Frequently Asked Questions about Merritronix
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Company Information
Incorporated in October 1988, Merritronix Limited is an Electronics Systems Design and Manufacturing (ESDM) company.
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