Merino Industries Limited Pre IPO Price: Valuation, Financials & Share Price Target 2025
25 June 2025 · Sachin Gadekar
Discover Merino Industries' unlisted share price, company fundamentals, and whether it’s a smart pre-IPO investment opportunity in 2025.
About Merino Industries Ltd
India’s growing infrastructure and housing needs have placed laminate and furniture businesses in the spotlight. One company leading this change is Merino Industries Limited (MIL)—a well-established brand in the decorative laminates sector.
For early investors exploring pre-IPO opportunities through platforms like GetUltra.club, Merino Industries has become a high-potential prospect. This article explores Merino Industries Limited pre IPO share price, its financials, net worth, turnover, and Merino share price target for 2025.
Merino Industries Limited (MIL) is a leading name in India’s decorative laminates and interior solutions industry. With an experience of over 50 years, MIL is known for products like:
Decorative laminates under the brand “Merino”
Modular furniture solutions under “My Space”
Potato flakes & agro products under “Vegit”
Pre-laminated boards, chemicals, and more
Its manufacturing units are located in Hapur (Uttar Pradesh) and Hosur (Tamil Nadu). With a dealer network of over 3,000 and exports across multiple countries, Merino has become a global laminate powerhouse.
Merino Industries Pre IPO Price & Fundamentals
| Metric | Value |
|---|---|
| Current Price | ₹3,399 |
| Market Cap | ₹3,799.63 Cr |
| ISIN | INE662B01017 |
| Face Value | ₹10 |
| EPS | ₹108.72 |
| P/E Ratio | 31.26 |
| Book Value | ₹1,216.89 |
| P/B Ratio | 0 |
| Debt / Equity Ratio | 0.531 |
Key Financials (FY2024 Overview)
| Particulars | FY2024 | FY2023 | FY2021 |
|---|---|---|---|
| Revenue from Operations | ₹2,251.83 Cr | ₹2,175.50 Cr | ₹1,296.88 Cr |
| Operating Profit | ₹206.43 Cr | ₹239.71 Cr | ₹209.80 Cr |
| PAT (Profit After Tax) | ₹121.54 Cr | ₹117.65 Cr | ₹131.86 Cr |
| Operating Profit Margin | 9% | 11% | 16% |
| Diluted EPS | ₹108.72 | ₹105.24 | ₹117.95 |
Merino Industries Ltd Turnover & Net Worth
| Metric | Value |
|---|---|
| Turnover (FY24) | ₹2,251.83 crore |
| Net Worth (March 2024) | ₹1,413 crore |
Strengths & Weaknesses
Strengths of Merino Industries
1. Market Leadership in Laminates
With a 20% market share in decorative laminates, Merino competes with brands like Greenlam and Century Plyboards and has an extensive distribution network.
2. Robust Financial Profile
A net worth of ₹1,413 crore and a debt-equity ratio of just 0.53 indicate strong financial discipline. The company’s interest coverage ratio of 12x shows it is comfortably managing its debt obligations.
3. Expansion Strategy
An ₹850 crore capex in expanding particle board capacity (expected to be operational by FY25) will drive growth further.
4. Diversified Product Portfolio
From laminates to ready-to-cook food (Vegit), Merino taps multiple industries, helping hedge risk and boost margins.
Weaknesses & Challenges
Raw Material Price Volatility: With 60–70% of raw materials imported, margins are exposed to global commodity price swings and freight costs.
Competitive Pressure: The laminates industry sees stiff competition from domestic and global players. Price wars and innovation will remain key competitive levers.
Working Capital Heavy Business: With over 150 days in gross current assets, working capital management is crucial. Large inventory and credit cycles affect liquidity.
FAQs on Merino Industries Pre IPO Share
1. What is Merino Industries Limited pre IPO price?
As per recent market data, Merino’s unlisted share price is approximately ₹3,399 per share.
2. Is Merino Industries listed on NSE or BSE?
No, as of now, Merino Industries is an unlisted company. It is available for investment only via the pre IPO/unlisted market.
3. What is Merino Industries’ share price target for 2025?
Based on growth and expansion plans, Merino’s estimated 2025 share price could range between ₹3,800 to ₹5,000.
4. How can I buy Merino Industries unlisted shares?
You can invest in Merino Industries pre IPO shares through trusted digital platforms like GetUltra.club with proper demat account settlement.
5. What is Merino Industries Ltd turnover and net worth?
For FY2024:
Turnover: ₹2,251.83 crore
Net Worth: ₹1,413 crore