Le Merite Exports Ltd.

•

lemeriteexports.comBSE: -NSE: LEMERITE

Market Cap₹ 262 Cr.

Current Price

High / Low₹ 108 / 20

Stock P/E107.4

Book Value₹ 11

Price to Book6.36

Dividend Yield0.00 %

ROCE8.0 %

ROE5.1 %

Face Value₹ 2

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Oil Gas & Consumable Fuels

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Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.

Confidence

78%

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PROS

Company has delivered good sales growth of 17.2% CAGR over last 5 years
Company converts assets efficiently - asset turnover of 2.2x

CONS

Operating cash flow has been negative in recent years
A large part of profit comes from other income (124.3% of PBT)
Recent results are weak - TTM profit is down 73.6% versus prior year
Receivables are growing faster than sales - a possible quality concern
Promoter holding has decreased over last 2 years: -13.1pp
Company has a low return on capital employed of 7.0%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Oil Gas & Consumable FuelsTradingTrading

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	ADANIENT	2936.00	53.39	397452.96	0.04	-1461.54	-249.67	32923.98	49.92	13.30	15.57
2.	PREMIERENE	998.00	27.21	45304.36	0.10	471.92	53.32	2462.59	35.25	33.72	29.03
3.	AEGISLOG	1270.55	35.64	44596.31	0.68	544.84	210.70	2356.86	37.07	19.76	30.28
4.	CPPLUS	3705.90	91.86	43840.96	0.04	142.20	332.51	1402.42	89.51	29.48	14.52
5.	REDINGTON	371.40	17.07	29035.10	1.62	453.49	94.65	34922.47	34.57	18.96	2.03
6.	HONASA	470.75	61.67	15347.59	0.64	90.45	118.87	755.95	27.00	8.99	14.58
7.	LLOYDSENT	74.20	100.87	11327.02	0.20	109.98	-55.77	563.03	70.15	12.84	18.07
8.	SGMART	826.10	83.74	10411.77	0.00	455.80	1310.71	13085.70	1044.08	10.43	4.49
9.	MMTC	64.18	21.52	9627.00	0.00	104.24	135.52	0.68	-50.00	33.46	-1423.53
10.	ENTERO	1827.20	63.41	7952.54	0.00	52.05	72.17	1940.50	38.23	10.93	5.00
11.	CELLO	342.50	24.69	7724.69	0.44	73.40	-8.99	526.72	-0.43	17.15	18.80
12.	LEMERITE	20.93	22.59	261.98	0.00	-45.75	-2045.15	897.54	611.78	8.77	-10.67

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	526	108	95	126	110	98	73	74	90
	495	105	94	121	108	92	71	75	101
Operating Profit	31	3	2	5	3	6	2	-1	-11
OPM %	5.89%	2.88%	1.89%	3.82%	2.67%	6.09%	2.97%	-1.96%	-12.51%
	1	1	1	1	3	2	2	4	6
Interest	4	2	2	3	2	2	1	2	2
Depreciation	0	0	0	0	0	0	0	0	0
Profit before Tax	28	2	0	3	6	6	3	0	-5
Tax %	24.73%	25.46%	11.11%	28.27%	22.33%	22.63%	22.26%	72.73%	16.54%
Net Profit	21	2	0	2	4	4	2	0	-4
	12.33	0.68	0.11	1.00	0.35	1.82	0.88	0.03	-0.34

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	180	217	268	526	364	468	480	335
	176	210	258	495	354	462	472	340
Operating Profit	4	6	10	31	10	6	8	-5
OPM %	2.43%	2.94%	3.89%	5.89%	2.78%	1.37%	1.77%	-1.35%
	1	1	1	1	3	4	9	14
Interest	3	3	2	4	4	7	9	7
Depreciation	0	0	0	1	1	0	1	1
Profit before Tax	2	4	9	28	9	2	7	4
Tax %	29.59%	27.01%	24.11%	24.74%	25.23%	24.46%	25.15%	35.02%
Net Profit	1	3	7	21	6	2	5	2
EPS	6.61	18.42	4.07	12.33	2.78	0.74	2.18	—
Dividend Payout %	0.00%	0.00%	0.00%	8.11%	18.47%	26.94%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 17%
3 Years:: -3%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 11%
3 Years:: -37%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: 27%
1 Year:: -71%

RETURN ON EQUITY

10 Years:: —
5 Years:: 22%
3 Years:: 5%
Last Year:: 5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	2	2	2	17	23	23	24
	12	16	23	28	72	73	88
	38	29	48	100	83	88	103
Trade Payables	3	8	12	19	21	12	20
	2	2	7	12	2	1	5
Total Liabilities	57	56	92	177	202	198	240
	2	2	2	3	2	2	11
Capital Work in Progress	0	0	0	0	7	8	0
	1	1	2	2	2	2	4
	3	3	10	13	16	16	11
	0	0	0	0	0	89	116
Cash & Bank	10	5	8	8	42	45	54
	40	45	71	151	132	35	44
Total Assets	57	56	92	177	202	198	240

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-5	-1	-20	-37	21	0	-15
Cash from Investing	0	-0	-0	-2	-7	-2	-3
Cash from Financing	1	-2	25	46	23	4	27
	-4	-5	3	0	34	3	9

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	6.61	18.42	40.73	12.33	2.71	0.74	2.18
Book Value (₹)	82.78	101.20	143.01	26.63	40.80	40.91	46.36
Dividend per Share (₹)	0.00	0.00	0.00	1.00	0.50	0.20	0.00
Cash EPS (₹)	0.15	0.39	0.83	2.52	0.59	0.19	0.53
PROFITABILITY
Operating Margin %	2.94%	3.23%	4.09%	6.10%	3.63%	1.37%	1.77%
Net Margin %	0.63%	1.45%	2.59%	4.00%	1.75%	0.37%	1.10%
ROE %	7.98%	20.02%	33.36%	60.24%	9.00%	1.82%	5.08%
ROCE %	9.81%	13.81%	17.24%	28.21%	7.80%	5.32%	8.00%
	1.99%	5.58%	9.38%	15.67%	3.36%	0.87%	2.42%
EFFICIENCY
Debtor Days	69	60	65	64	110	71	78
Inventory Days	7	5	9	8	14	12	10
Payable Days	7	11	15	13	22	14	13
	69	55	59	59	102	69	75
FINANCIAL HEALTH
Debt to Equity (x)	2.67x	1.72x	2.21x	2.20x	0.86x	0.92x	0.91x
Interest Coverage (x)	1.46x	2.71x	6.56x	8.81x	3.06x	1.31x	1.78x
	1.31x	1.36x	1.32x	1.31x	1.77x	1.81x	1.97x
GROWTH
Revenue Growth %	0.00%	20.36%	23.87%	95.94%	-30.76%	28.55%	2.57%
Operating Profit Growth %	0.00%	32.19%	57.10%	191.99%	-58.72%	-23.44%	70.51%
Net Profit Growth %	0.00%	178.84%	121.12%	202.71%	-69.82%	-72.58%	204.10%
	0.00%	0.00%	0.00%	0.00%	0.00%	-72.58%	193.87%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	82.99x	135.26x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	1.51x	6.36x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.32%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	18.59x	44.34x

Shareholding Pattern

Numbers in percentages

	Mar 2023	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	72.74	72.74	72.96	73.06	62.22	61.53	59.65	59.65	59.65
	0.58	0.40	0.40	0.20	0.52	0.34	0.14	0.21	0.00
	0.00	0.00	0.00	0.00	0.00	0.00	0.16	0.16	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	26.68	26.86	26.64	26.74	37.26	38.13	40.04	39.97	40.34

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-31

Agreements

2026-08-31 - Le Merite Exports Limited has informed the Exchange about Agreements

2026-08-15

Copy of Newspaper Publication

2026-08-15 - Le Merite Exports Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-14

Statement of deviation(s) or variation(s) under Reg. 32

2026-08-14 - Le Merite Exports Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32

2026-08-14

Press Release

2026-08-14 - Le Merite Exports Limited has informed the Exchange regarding a press release dated August 14, 2026, titled "Press Release".

2026-08-14

Resignation

2026-08-14 - Le Merite Exports Limited has informed the Exchange regarding Resignation of Mr Rohit Agarwal as Non- Executive Independent Director of the company w.e.f. August 14, 2026.

2026-08-14

Appointment

2026-08-14 - Le Merite Exports Limited has informed the Exchange regarding Appointment of Ms Kusum Naruka as Non- Executive Independent Director of the company w.e.f. August 14, 2026.

2026-08-14

Outcome of Board Meeting

2026-08-14 - Le Merite Exports Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-08-11

Acquisition

2026-08-11 - Le Merite Exports Limited has informed the Exchange about Cancellation of Proposed Acquisition

2026-07-13

Reply to Clarification- Financial results

2026-07-13 - The Exchange had sought clarification from Le Merite Exports Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: The response of the Company is enclosed.

News

Recent coverage and analyst commentary for LEMERITE

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Le Merite Exports Ltd.

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Name

ADANIENT

2936.00

53.39

397452.96

0.04

-1461.54

-249.67

32923.98

49.92

13.30

15.57

PREMIERENE

998.00

27.21

45304.36

0.10

471.92

53.32

2462.59

35.25

33.72

29.03

AEGISLOG

1270.55

35.64

44596.31

0.68

544.84

210.70

2356.86

37.07

19.76

30.28

CPPLUS

3705.90

91.86

43840.96

0.04

142.20

332.51

1402.42

89.51

29.48

14.52

REDINGTON

371.40

17.07

29035.10

1.62

453.49

94.65

34922.47

34.57

18.96

2.03

HONASA

470.75

61.67

15347.59

0.64

90.45

118.87

755.95

27.00

8.99

14.58

LLOYDSENT

74.20

100.87

11327.02

0.20

109.98

-55.77

563.03

70.15

12.84

18.07

SGMART

826.10

83.74

10411.77

0.00

455.80

1310.71

13085.70

1044.08

10.43

4.49

MMTC

64.18

21.52

9627.00

0.00

104.24

135.52

0.68

-50.00

33.46

-1423.53

ENTERO

1827.20

63.41

7952.54

0.00

52.05

72.17

1940.50

38.23

10.93

5.00

CELLO

342.50

24.69

7724.69

0.44

73.40

-8.99

526.72

-0.43

17.15

18.80

LEMERITE

20.93

22.59

261.98

0.00

-45.75

-2045.15

897.54

611.78

8.77

-10.67

Mar 2022

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

526

108

126

110

495

105

121

108

101

Operating Profit

-1

-11

OPM %

5.89%

2.88%

1.89%

3.82%

2.67%

6.09%

2.97%

-1.96%

-12.51%

Interest

Depreciation

Profit before Tax

-5

Tax %

24.73%

25.46%

11.11%

28.27%

22.33%

22.63%

22.26%

72.73%

16.54%

Net Profit

-4

12.33

0.68

0.11

1.00

0.35

1.82

0.88

0.03

-0.34

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

180

217

268

526

364

468

480

335

176

210

258

495

354

462

472

340

Operating Profit

-5

OPM %

2.43%

2.94%

3.89%

5.89%

2.78%

1.37%

1.77%

-1.35%

Interest

Depreciation

Profit before Tax

Tax %

29.59%

27.01%

24.11%

24.74%

25.23%

24.46%

25.15%

35.02%

Net Profit

EPS

6.61

18.42

4.07

12.33

2.78

0.74

2.18

—

Dividend Payout %

0.00%

8.11%

18.47%

26.94%

0.00%

—

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

100

103

Trade Payables

Total Liabilities

177

202

198

240

Capital Work in Progress

116

Cash & Bank

151

132

Total Assets

177

202

198

240

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-5

-1

-20

-37

-15

Cash from Investing

-0

-2

-7

-2

-3

Cash from Financing

-2

-4

-5

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

6.61

18.42

40.73

12.33

2.71

0.74

2.18

Book Value (₹)

82.78

101.20

143.01

26.63

40.80

40.91

46.36

Dividend per Share (₹)

0.00

1.00

0.50

0.20

0.00

Cash EPS (₹)

0.15

0.39

0.83

2.52

0.59

0.19

0.53

PROFITABILITY

Operating Margin %

2.94%

3.23%

4.09%

6.10%

3.63%

1.37%

1.77%

Net Margin %

0.63%

1.45%

2.59%

4.00%

1.75%

0.37%

1.10%

ROE %

7.98%

20.02%

33.36%

60.24%

9.00%

1.82%

5.08%

ROCE %

9.81%

13.81%

17.24%

28.21%

7.80%

5.32%

8.00%

1.99%

5.58%

9.38%

15.67%

3.36%

0.87%

2.42%

EFFICIENCY

Debtor Days

110

Inventory Days

Payable Days

102

FINANCIAL HEALTH

Debt to Equity (x)

2.67x

1.72x

2.21x

2.20x

0.86x

0.92x

0.91x

Interest Coverage (x)

1.46x

2.71x

6.56x

8.81x

3.06x

1.31x

1.78x

1.31x

1.36x

1.32x

1.31x

1.77x

1.81x

1.97x

GROWTH

Revenue Growth %

0.00%

20.36%

23.87%

95.94%

-30.76%

28.55%

2.57%

Operating Profit Growth %

0.00%

32.19%

57.10%

191.99%

-58.72%

-23.44%

70.51%

Net Profit Growth %

0.00%

178.84%

121.12%

202.71%

-69.82%

-72.58%

204.10%

0.00%

-72.58%

193.87%

VALUATION

P/E (x)

0.00x

82.99x

135.26x

P/B (x)

0.00x

1.51x

6.36x

Dividend Yield %

0.00%

0.32%

0.00%

0.00x

18.59x

44.34x

Mar 2023

Sep 2023

Mar 2024

Sep 2024

Mar 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

72.74

72.96

73.06

62.22

61.53

59.65

0.58

0.40

0.20

0.52

0.34

0.14

0.21

0.00

0.16

0.00

Government

0.00

26.68

26.86

26.64

26.74

37.26

38.13

40.04

39.97

40.34

Le Merite Exports Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Le Merite Exports Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI