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MERINO INDUSTRIES LIMITED

Active
Updated: 14 Mar 2026

Merino Industries Limited is a leading textile manufacturing company based in India that specializes in high-quality woolen and synthetic fabrics. It offers a diverse range of products including suiting, shirting, and technical textiles, catering to various sectors such as fashion, automotive, and home furnishings while focusing on sustainability and innovative production techniques.

Merino Industries Limited, is an unlisted public company incorporated on 29 July, 1965. It is classified as a public limited company and is located in , West Bengal. It's authorized share capital is INR 19.75 cr and the total paid-up capital is INR 11.18 cr.

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Subscription Plans
Industry and products
Trading
  • , hospitality, plywood, home, and post-formed panels; tailor-made furniture solutions for office, melamine-faced particle boards and MDF boards
Company size
Auth Capital
₹ 19.8 Cr
Paidup Capital
₹ 11.2 Cr
Revenue
₹ 2250-2500 cr
# Key metrics of Merino Industries Limited - All rupee values in INR crores. Based on March 2025 numbers. | Metric | Value | Change | |---|---|---| | Auth Capital | ₹ 19.8 Cr | | | Paidup Capital | ₹ 11.2 Cr | | | Revenue | ₹ 2250-2500 cr | | | Total Revenue | ₹2,355.0 | 1.99% | | EBITDA | ₹105.5 | -48.89% | | Net Profit | ₹-7.3 | -106.03% | | Networth | ₹1,357.0 | -0.25% | | Borrowings | ₹702.5 | -2.74% | | Assets | ₹2,526.9 | -2.77% | | Gross Margin | 47.2% | 1.26 | | Operating Margin | 4.6% | -4.59 | | Net Profit Margin | -0.3% | -5.57 | | Return on Equity | -0.5% | -9.47 | | ROCE | -1.6% | -10.34 | | Debt to Equity | 0.5 | -0.01 |
Key Metrics

** All rupee values in INR crores. Based on March 2025 numbers.

Total Revenue
1.99%
₹ 2,355.0
EBITDA
-48.89%
₹ 105.5
Net Profit
-106.03%
₹ -7.3
Networth
-0.25%
₹ 1,357.0
Borrowings
-2.74%
₹ 702.5
Assets
-2.77%
₹ 2,526.9
Gross Margin
1.26
47.2 %
Operating Margin
-4.59
4.6 %
Net Profit Margin
-5.57
-0.3 %
Return on Equity
-9.47
-0.5 %
ROCE
-10.34
-1.6 %
Debt to Equity
-0.01
0.5
Sales
Mar 2025
Net worth
Mar 2025

Locations

indian flag India (38)
State Type Address

location icon Locations on Map

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People

Designation Name DIN/PAN Tenure
Director Titu Prasad Kooretti 02539556 4 years
Whole-time Director Prasan Lohia
Shareholder
00061111 21 years
Whole-time Director Ruchira Lohia
Shareholder
00127797 26 years
Whole-time Director Madhusudan Lohia
Shareholder
00063278 19 years
Whole-time Director Bikash Lohia .
Shareholder
00154013 19 years
Director Prabal Kumar Sarkar 03124712 5 years
Whole-time Director Nripen Kumar Dugar
Shareholder
00127790 39 years
Managing Director Prakash Lohia
Shareholder
00063274 50 years
Director Bama Prasad Mukhopadhyay 08199055 8 years
Whole-time Director Manoj Lohia
Shareholder
00127775 5 years
Whole-time Director Deepak Lohia
Shareholder
00154027 5 years
Whole-time Director Anil Jajoo
Shareholder
00063284 2 years

Financial Highlights

** All numbers in INR crores
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Sales 1,296.9 1,747.9 2,175.5 2,251.8 2,301.4
Operating profit 209.8 202.7 239.7 206.4 105.5
Net profit 131.9 132.2 117.6 121.5 -7.3
Gross margin 49.7 45.1 47.2 45.9 47.2
Operating margin 16.2 11.6 11.0 9.2 4.6
Net margin 9.8 7.4 5.3 5.3 -0.3
Networth 1,036.1 1,161.2 1,248.4 1,360.3 1,357.0
Borrowings 137.2 295.1 594.6 722.3 702.5
Assets 1,511.3 1,869.0 2,310.0 2,598.9 2,526.9
Debt to equity 0.1 0.2 0.5 0.5 0.5
Current ratio 1.6 1.4 1.4 1.1 1.1
ROE 12.7 11.4 9.4 8.9 -0.5
Days payable 104.0 91.0 65.0 80.0 74.0
WC days 69.0 47.0 45.0 20.0 9.0
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Margins

Gross margin
Operating margin
Net margin

Balance Sheet

Standalone
Consolidated
%
** All numbers in INR crores
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 11.3 11.3 11.3 11.3 11.3
Reserves 1,024.8 1,149.9 1,237.1 1,349.0 1,345.7
Borrowings + 137.2 295.1 594.6 722.3 702.5
Long term borrowings 38.7 65.8 283.9 213.9 152.1
Short term borrowings 98.5 229.3 310.7 508.3 550.4
Trade payables + 185.2 239.6 203.5 266.4 246.1
Days payable 104.0 91.0 65.0 80.0 74.0
Other liabilities + 338.0 412.7 467.0 516.3 467.4
Other non-current liabilities 34.8 47.6 33.3 52.2 44.2
Other current liabilities 118.1 125.4 230.2 197.7 177.1
Total liabilities 1,511.3 1,869.0 2,310.0 2,598.9 2,526.9
Fixed Assets + 530.8 718.6 1,149.5 1,389.2 1,361.6
Tangible assets 513.5 478.2 529.5 1,351.7 1,306.9
CWIP 16.5 141.0 604.6 36.9 42.5
Intangible assets 0.8 99.5 15.5 0.5 12.2
LT loans and advances 3.8 0.3 0.2 0.3 0.2
Other non-current assets 329.6 332.7 147.6 111.2 137.6
Current assets + 647.0 817.4 1,012.7 1,098.3 1,027.5
Inventories 345.4 427.9 581.4 589.4 654.6
Trade receivables 151.6 165.3 175.2 214.7 201.8
Cash and cash equivalents 23.5 32.3 9.8 14.1 2.9
ST loans and advances 3.1 1.6 1.5 1.7 0.7
Other current assets 123.4 190.2 244.8 278.3 167.5
Total assets 1,511.3 1,869.0 2,310.0 2,598.9 2,526.9
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Total assets

Profit & Loss

Standalone
Consolidated
%
** All numbers in INR crores
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Sales + 1,296.9 1,747.9 2,175.5 2,251.8 2,301.4
Sales growth % 29.7 34.78 24.46 3.51 2.2
Expenses + 1,161.9 1,621.2 2,031.3 2,145.6 2,381.8
Cost of goods 652.6 960.3 1,147.5 1,218.2 1,216.0
Employee cost 163.5 208.0 247.2 290.4 350.2
Other costs 271.0 376.9 541.1 536.8 629.6
Operating profit + 209.8 202.7 239.7 206.4 105.5
Operating margin % 16.2 11.6 11.0 9.2 4.6
Other income 42.0 48.3 29.9 57.3 53.6
Interest 18.2 13.2 28.5 26.4 57.9
Depreciation 56.7 62.8 67.0 73.9 128.1
Exceptional items - - - - -
Profit before tax 176.9 175.1 174.1 163.5 -26.9
Tax 45.1 42.9 56.5 41.9 -19.5
Profit - disc. ops - - - - -
Net profit 131.9 132.2 117.6 121.5 -7.3
Net margin % 9.8 7.4 5.3 5.3 -0.3
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Revenue from operations

Ratios

Standalone
Consolidated
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Solvency +
Total Debt/Equity 0.1 0.2 0.5 0.5 0.5
Net Debt/Equity 0.1 0.2 0.5 0.5 0.5
Total Debt/Assets 0.1 0.2 0.3 0.3 0.3
Total Assets/Equity 1.5 1.6 1.9 1.9 1.9
Liquidity +
Current Ratio 1.6 1.4 1.4 1.1 1.1
Quick Ratio 0.8 0.7 0.6 0.5 0.4
Interest Coverage 11.6 15.4 8.4 7.8 1.8
Performance
Gross Margin 49.7 45.1 47.2 45.9 47.2
Operating Margin 16.2 11.6 11.0 9.2 4.6
Net Margin 9.8 7.4 5.3 5.3 -0.3
Return +
Return on Equity 12.7 11.4 9.4 8.9 -0.5
Pre-tax ROCE 19.7 14.9 12.2 8.8 -1.6
Return on Assets 8.7 7.1 5.1 4.7 -0.3
Pre-tax ROIC 13.3 9.8 9.4 6.4 -1.1
Efficiency +
Days Payable 104.0 91.0 65.0 80.0 74.0
Days Inventory 193.0 163.0 185.0 177.0 196.0
Days Receivable 43.0 35.0 29.0 35.0 32.0
Fixed Asset Turnover 2.4 2.4 1.9 1.6 1.7
Total Asset Turnover 0.9 0.9 0.9 0.9 0.9
Working Capital
Cash Conversion Cycle 132.0 107.0 149.0 132.0 154.0
Working Capital Days 69.0 47.0 45.0 20.0 9.0
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Ratios

Current ratio
Debt/equity ratio

Charges on assets

Bank wise
Charges
1

Axis Bank Limited

No. of Loans: 2

Total Amount : 290.0 cr

2

ICICI Bank Limited

No. of Loans: 2

Total Amount : 236.0 cr

3

The Hongkong and Shanghai Banking Corporation Limited

No. of Loans: 1

Total Amount : 105.0 cr

4

United Bank of India

No. of Loans: 1

Total Amount : 0.2 cr

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Charges

Axis Bank Limited
ICICI Bank Limited
The Hongkong and Shanghai Banking Corporation Limited
United Bank of India

Company Network

Companies connected through Directors

Name Status Paid up Capital Common Directors Address
THE PLASTICS EXPORT PROMOTION COUNCIL
Active
0.0 1 Maharashtra
MERINO PROPERTIES PRIVATE LIMITED
Active
5.7 L 8 West Bengal
MERINO SERVICES LTD.
Amalgamated
15.7 L 5 West Bengal
MERINO EXPORTS PVT LTD
Amalgamated
6.3 L 3 West Bengal
MERINO PANEL PRODUCTS LTD
Amalgamated
2.0 Cr 7
KASTURI BAI COLD STORAGE PVT LTD
Amalgamated
5.0 L 1 West Bengal
PREMCHAND LOHIA AGRO LIMITED
Active
1.0 L 2 Delhi
MANKUMAR LOHIA AGRO LIMITED
Active
2.1 Cr 1 Delhi
KBGB AGRITECH PRIVATE LIMITED
Active
16.3 L 2 West Bengal
MERINO CONSULTING SERVICES LIMITED
Active
18.7 L 1 West Bengal
CLL AGRO LIMITED
Active
2.2 Cr 2 Delhi
PIONEER ALLOY CASTINGS LTD
Under Liquidation
17.2 Cr 1 Andhra Pradesh
SRINIVASA RESORTS LTD
Active
24.0 Cr 1 Telangana
STANDARD TRUST CO PVT LTD
Strike Off
1.0 L 1 West Bengal
PARTNER SUPPORT MANAGEMENT (INDIA) PRIVATE LIMITED
Strike Off
10.0 L 1 West Bengal
DIC INDIA LIMITED
Active
9.2 Cr 1 West Bengal

Subsidiary Companies

Name State / Country Incorporation Year Paidup Capital
MERINO PANEL PRODUCTS LTD 1994 ₹ 2.0 Cr

Tofler Score

Good
score img
Poor
Fair
Good
Very Good
Excellent

Risk

Severe Risk
  • VERY LOW INTEREST COVERAGE
Moderate Risk
  • LOSS MAKING
  • LOW ROCE
  • LOW CASH BALANCE
  • CASH DETERIORATING
Low Risk
  • HIGH INVENTORY
  • EBITDA MARGINS DETERIORATING
About Tofler Score
Tofler Score measures the quality of performance and integrity of a company. It is dependent on three key factors - Sustainability, Governance, and Growth.

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Registered Details

CIN

U51909WB1965PLC026556

PAN

AAACC9186C

Incorporation

1965, 60.6 years

Company Email

balaji[at]merinoindia[dot]com

Paid up Capital

₹ 11.2 Cr

Authorised Capital

₹ 19.8 Cr

AGM

Sep 2025

Type

Public
Others

FAQ - MERINO INDUSTRIES LIMITED

What is the incorporation date of MERINO INDUSTRIES LIMITED?

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The incorporation date of MERINO INDUSTRIES LIMITED is 29 July, 1965

What is the authorized share capital of MERINO INDUSTRIES LIMITED?

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The authorized share capital of MERINO INDUSTRIES LIMITED is INR ₹ 19.8 Cr.

What is the paid-up capital of MERINO INDUSTRIES LIMITED?

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The paid-up capital of MERINO INDUSTRIES LIMITED is INR ₹ 11.2 Cr.

What is the registered address of MERINO INDUSTRIES LIMITED?

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The registered address of MERINO INDUSTRIES LIMITED is 5, ALEXANDRA COURT,60/1, CHOWRINGHEE RO, KOLKATA, West Bengal, India, 700020 - 700020

What is the CIN number of MERINO INDUSTRIES LIMITED?

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The CIN number of MERINO INDUSTRIES LIMITED is U51909WB1965PLC026556.

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