MERINO INDUSTRIES LTD – FY 2018 RESULT UPDATE

Merino Industries Limited  incorporated in 1965 is an unlisted public limited company engaged in manufacturing and marketing interior solutions. The company has its headquarter located at Kolkata , sales presence in 50+ countries and more than 4000 dealers supported by multi- regional warehouses markets which has helped it to sustain its market leadership position over last 5 Years.

FINANCIAL HIGHLIGHTS FOR FY2018:  (Fig in Crs.)

PARTICULARS	STANDALONE		CONSOLIDATED
	2018	2017	2018	2017
Total Income	824	778	1239	1164
PAT	68	75	107	120
EPS	64.48	71.93	101.98	114.82
Equity	10.47	10.47	10.47	10.47
Face Value	10	10	10	10
Book Value	367.84	304.36	554.11	453.37

CONCLUSION:

• Merino Industries Ltd is into manufacturing laminates and panel products. The total market size of “Laminates and Decorative Veneer” is around Rs. 6000 Crs. in India. Out of this ~30% comprises of unorganized players this percentage in dropping down due to gradual shift of consumers towards organized players such as “Merino”.
• This organized segment is expanding between 10% to 20% yearly due to - strong growth in the real estate industry, Indian furniture market, growing middle class segment, lower interest rates and increasing number of nuclear families , increase in urbanization are driving real estate demand and government focus on infra and low cost housing.
•  GST has benefited Merino Industries Ltd by attracting tax rate of 18% (pre GST tax imposition was 28%).

Thus based on strong market growth and future perspective and strong financial performance of the company over the years we strongly recommend – “Buy – Merino Industries Ltd”.

For Detail Report on Merino Industries Ltd - http://www.rareindianshare.info/2018/04/merino-industries-ltd-unlisted.html

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