Balance Sheet Le Merite Exports Limited

Equities

LEMERITE

INE0G1L01017

Textiles & Leather Goods

Market Closed - NSE India S.E. Other stock markets 04:35:03 13/02/2026 pm IST			5-day change	1st Jan Change
458.30 ^INR	-2.40%		-2.26%	-2.73%

12/11	Le Merite Exports Limited Reports Earnings Results for the Half Year Ended September 30, 2025	CI
08/25/08	Le Merite Exports Limited Reports Earnings Results for the Full Year Ended March 31, 2025	CI

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Published financial data: LE MERITE EXPORTS LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	268.39Cr	525.9Cr	376.89Cr	468.15Cr	514.74Cr
Total Revenues	268.39Cr	525.9Cr	376.89Cr	468.15Cr	514.74Cr
Cost of Goods Sold, Total	236.53Cr	437.36Cr	336.05Cr	434.1Cr	478.44Cr
Gross Profit	32Cr	89Cr	41Cr	34Cr	36Cr
Selling General & Admin Expenses, Total	2.99Cr	5.51Cr	9.99Cr	3.51Cr	2.79Cr
Depreciation & Amortization - (IS)	16.39L	50.19L	60.64L	46.61L	1.18Cr
Other Operating Expenses	18Cr	52Cr	25Cr	24Cr	22Cr
Other Operating Expenses, Total	21Cr	58Cr	35Cr	28Cr	26Cr
Operating Income	10Cr	31Cr	5.42Cr	5.94Cr	10Cr
Interest Expense, Total	-1.61Cr	-3.46Cr	-3.88Cr	-7.36Cr	-8.03Cr
Interest And Investment Income	38.66L	38.25L	2.97Cr	-	4.46Cr
Net Interest Expenses	-1.22Cr	-3.08Cr	-90.23L	-7.36Cr	-3.57Cr
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	6L	28.3L	-9L	3.73Cr	1.35Cr
EBT, Excl. Unusual Items	9.22Cr	28Cr	4.42Cr	2.31Cr	8.14Cr
Gain (Loss) On Sale Of Investments	5L	26.49L	3L	-	50.16L
Other Unusual Items	-10.41L	-	-	-	-
EBT, Incl. Unusual Items	9.17Cr	28Cr	4.44Cr	2.31Cr	8.65Cr
Income Tax Expense	2.21Cr	6.92Cr	2.14Cr	56.52L	1.78Cr
Earnings From Continuing Operations	6.96Cr	21Cr	2.3Cr	1.75Cr	6.86Cr
Net Income to Company	6.96Cr	21Cr	2.3Cr	1.75Cr	6.86Cr
Minority Interest	-	10T	1.99Cr	-21T	-76.66L
Net Income - (IS)	6.96Cr	21Cr	4.29Cr	1.75Cr	6.1Cr
Net Income to Common Incl Extra Items	6.96Cr	21Cr	4.29Cr	1.75Cr	6.1Cr
Net Income to Common Excl. Extra Items	6.96Cr	21Cr	4.29Cr	1.75Cr	6.1Cr
Per Share Items
Net EPS - Basic	4.07	12.33	1.83	0.74	2.59
Basic EPS - Continuing Operations	4.07	12.33	1.83	0.74	2.59
Basic Weighted Average Shares Outstanding	1.71Cr	1.71Cr	2.35Cr	2.36Cr	2.35Cr
Net EPS - Diluted	4.07	12.33	1.83	0.74	2.54
Diluted EPS - Continuing Operations	4.07	12.33	1.83	0.74	2.54
Diluted Weighted Average Shares Outstanding	1.71Cr	1.71Cr	2.35Cr	2.36Cr	2.4Cr
Normalized Basic EPS	3.37	10.14	2.02	0.61	1.84
Normalized Diluted EPS	3.37	10.14	2.02	0.61	1.8
Dividend Per Share	-	1	0.5	0.2	-
Payout Ratio	-	-	54.76	67.28	7.7
Supplemental Items
EBITDA	11Cr	31Cr	6.02Cr	6.41Cr	12Cr
EBITA	10Cr	31Cr	5.42Cr	5.94Cr	10Cr
EBIT	10Cr	31Cr	5.42Cr	5.94Cr	10Cr
EBITDAR	11Cr	31Cr	8.82Cr	-	12Cr
Total Revenues (As Reported)	268.94Cr	526.97Cr	380.11Cr	471.89Cr	525.86Cr
Effective Tax Rate - (Ratio)	24.11	24.74	48.26	24.44	20.6
Total Current Taxes	2.3Cr	6.95Cr	2.2Cr	60.08L	1.75Cr
Total Deferred Taxes	68T	-3L	-6L	-4L	3L
Normalized Net Income	5.76Cr	17Cr	4.75Cr	1.44Cr	4.32Cr
Non-Cash Pension Expense	43T	0	1L	-	2L
Supplemental Operating Expense Items
Advertising Expense	21.3L	36.12L	41.97L	-	30.8L
Marketing Expenses	29T	22T	2L	-	2L
Selling and Marketing Expenses	21.59L	-	44.24L	-	32.84L
Net Rental Expense, Total	7L	11.5L	2.8Cr	-	8L
Imputed Operating Lease Interest Expense	-	4L	93.36L	-	5L
Imputed Operating Lease Depreciation	-	7L	1.87Cr	-	3L
Maintenance & Repair Expenses, Total	3L	32.11L	36.43L	-	1L

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	7.96Cr	8.25Cr	42Cr	45Cr	54Cr
Short Term Investments	62.84L	70.21L	89.75L	1.14Cr	1.62Cr
Total Cash And Short Term Investments	8.58Cr	8.95Cr	43Cr	46Cr	55Cr
Accounts Receivable, Total	59Cr	126.82Cr	92Cr	89Cr	115.76Cr
Other Receivables	5.16Cr	11Cr	12Cr	-	14Cr
Notes Receivable	-	-	-	24Cr	-
Total Receivables	64Cr	137.4Cr	103.98Cr	112.8Cr	129.49Cr
Inventory	15Cr	20Cr	35Cr	18Cr	21Cr
Other Current Assets, Total	21.33L	3.87Cr	6.11Cr	2.25Cr	16Cr
Total Current Assets	88Cr	170.02Cr	187.83Cr	178.81Cr	221.9Cr
Gross Property Plant And Equipment	3.78Cr	5.61Cr	13Cr	-	16Cr
Accumulated Depreciation	-2.15Cr	-2.66Cr	-3.26Cr	-	-4.91Cr
Net Property Plant And Equipment	1.62Cr	2.95Cr	9.47Cr	10Cr	11Cr
Long-term Investments	-	-	-	-	85.06L
Loans Receivable Long-Term	35.91L	30.31L	23.38L	4.47Cr	-
Deferred Tax Assets Long-Term	-	84T	6L	10L	7L
Deferred Charges Long-Term	-	52T	41T	33T	12T
Other Long-Term Assets, Total	2.56Cr	3.41Cr	4.42Cr	4.42Cr	3.61Cr
Total Assets	92Cr	176.7Cr	202.02Cr	198.22Cr	237.8Cr
Liabilities
Accounts Payable, Total	12Cr	19Cr	22Cr	13Cr	20Cr
Accrued Expenses, Total	44.93L	1.56Cr	59.75L	3L	29.61L
Short-term Borrowings	53Cr	98Cr	81Cr	87Cr	90Cr
Current Portion of Long-Term Debt	3L	24.56L	26.7L	-	35.28L
Current Income Taxes Payable	38.66L	44.47L	-	-	8T
Other Current Liabilities	98.61L	9.98Cr	1.47Cr	1.03Cr	2.06Cr
Total Current Liabilities	66Cr	129.46Cr	105.18Cr	100.65Cr	112.13Cr
Long-Term Debt	1.25Cr	1.55Cr	4.89Cr	5.29Cr	13Cr
Pension & Other Post Retirement Benefits	-	17.06L	18.55L	24.23L	30.86L
Deferred Tax Liability Non Current	2L	-	-	-	-
Other Non Current Liabilities	-1T	1T	-	1T	-
Total Liabilities	68Cr	131.18Cr	110.26Cr	106.18Cr	125.16Cr
Common Stock, Total	1.71Cr	17Cr	23Cr	23Cr	24Cr
Additional Paid In Capital	-	-	40Cr	-	51Cr
Retained Earnings	23Cr	28Cr	30Cr	71Cr	36Cr
Comprehensive Income and Other	-	-	-	-	2.47Cr
Total Common Equity	24Cr	45Cr	94Cr	94Cr	113.84Cr
Minority Interest	-	3L	-1.96Cr	-1.96Cr	-1.19Cr
Total Equity	24Cr	46Cr	92Cr	92Cr	112.64Cr
Total Liabilities And Equity	92Cr	176.7Cr	202.02Cr	198.22Cr	237.8Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.71Cr	1.71Cr	2.35Cr	2.37Cr	2.43Cr
ECS Total Common Shares Outstanding	1.71Cr	1.71Cr	2.35Cr	2.37Cr	2.43Cr
Book Value / Share	14.3	26.63	39.91	39.58	46.85
Tangible Book Value	24Cr	45Cr	94Cr	94Cr	113.84Cr
Tangible Book Value Per Share	14.3	26.63	39.91	39.58	46.85
Total Debt	54Cr	100Cr	86Cr	92Cr	102.93Cr
Net Debt	45Cr	91Cr	43Cr	46Cr	48Cr
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	20.11L	21.95L	-	34.64L
Debt Equivalent Oper. Leases	53.6L	92L	22Cr	-	61.36L
Minority Interest, Total (Incl. Fin. Div)	-	3L	-1.96Cr	-1.96Cr	-1.19Cr
Account Code - Inventory Valuation	-	3	3	-	3
Inventories - Raw Materials, Total	-	38.49L	40.54L	-	-
Inventories - Work In Process, Total	-	28.95L	34.26L	-	34.26L
Inventories - Finished Goods, Total	10Cr	12Cr	17Cr	-	11Cr
Inventories - Others	-	-	-	-	-
Buildings, Total	2.22Cr	2.3Cr	2.32Cr	-	9.29Cr
Machinery, Total	1.55Cr	3.31Cr	3.44Cr	-	6.98Cr
Full Time Employees	-	135	24	-	25

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	6.96Cr	21Cr	4.29Cr	1.75Cr	6.1Cr
Depreciation & Amortization - CF	16.39L	50.19L	60.64L	46.61L	1.18Cr
Depreciation & Amortization, Total	16.39L	50.19L	60.64L	46.61L	1.18Cr
Other Operating Activities, Total	70T	23L	-2.49Cr	-26.24L	92.58L
Change In Accounts Receivable	-21Cr	-68Cr	35Cr	2.99Cr	-27Cr
Change In Inventories	-7.35Cr	-2.43Cr	-5.47Cr	37.57L	6.53Cr
Change In Accounts Payable	3.48Cr	7.33Cr	2.77Cr	-9.14Cr	6.79Cr
Change In Income Taxes	-	-	-	-	-
Change in Other Net Operating Assets	-4.48Cr	-2.14Cr	-23Cr	3.99Cr	-7.02Cr
Cash from Operations	-22Cr	-44Cr	11Cr	17.07L	-12Cr
Capital Expenditure	-21.38L	-1.84Cr	-7.12Cr	-1.42Cr	-2.13Cr
Sale of Property, Plant, and Equipment	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	7L	-7L	-19.54L	-23.9L	-1.34Cr
Cash from Investing	-14.25L	-1.91Cr	-7.32Cr	-1.66Cr	-3.47Cr
Short Term Debt Issued, Total	24Cr	46Cr	-	5.62Cr	3.39Cr
Long-Term Debt Issued, Total	70.64L	29.77L	3.34Cr	39.54L	7.43Cr
Total Debt Issued	25Cr	46Cr	3.34Cr	6.02Cr	11Cr
Short Term Debt Repaid, Total	-	-	-17Cr	-	-
Long-Term Debt Repaid, Total	-	-	-	-	-
Total Debt Repaid	-	-	-17Cr	-	-
Issuance of Common Stock	-	-	48Cr	-	81.76L
Common Dividends Paid	-	-	-2.35Cr	-1.17Cr	-46.96L
Common & Preferred Stock Dividends Paid	-	-	-2.35Cr	-1.17Cr	-46.96L
Other Financing Activities, Total	-19.4L	9L	-1.88Cr	-39.52L	13Cr
Cash from Financing	25Cr	46Cr	30Cr	4.45Cr	25Cr
Miscellaneous Cash Flow Adjustments	-1T	-	1T	1T	-
Net Change in Cash	2.53Cr	28.98L	34Cr	2.96Cr	8.82Cr
Supplemental Items
Cash Income Tax Paid (Refund)	2.2Cr	6.95Cr	2.2Cr	90.08L	1.75Cr
Levered Free Cash Flow	-	-49Cr	3.67Cr	-3.61Cr	-21Cr
Unlevered Free Cash Flow	-	-47Cr	6.09Cr	99.39L	-16Cr
Change In Net Working Capital	-	65Cr	-9.22Cr	1.77Cr	21Cr
Net Debt Issued / Repaid	25Cr	46Cr	-14Cr	6.02Cr	11Cr

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	-	14.19	1.79	1.85	2.97
Return on Total Capital	-	17.04	2.09	2.05	3.24
Return On Equity %	-	60.21	3.35	1.9	6.71
Return on Common Equity	-	60.24	6.16	1.86	5.87
Margin Analysis
Gross Profit Margin %	11.87	16.84	10.84	7.27	7.05
SG&A Margin	1.11	1.05	2.65	0.75	0.54
EBITDA Margin %	3.93	5.9	1.6	1.37	2.24
EBITA Margin %	3.87	5.8	1.44	1.27	2.02
EBIT Margin %	3.87	5.8	1.44	1.27	2.02
Income From Continuing Operations Margin %	2.59	4	0.61	0.37	1.33
Net Income Margin %	2.59	4	1.14	0.37	1.18
Net Avail. For Common Margin %	2.59	4	1.14	0.37	1.18
Normalized Net Income Margin	2.15	3.29	1.26	0.31	0.84
Levered Free Cash Flow Margin	-	-9.33	0.97	-0.77	-4.02
Unlevered Free Cash Flow Margin	-	-8.92	1.62	0.21	-3.05
Asset Turnover
Asset Turnover	-	3.91	1.99	2.34	2.36
Fixed Assets Turnover	-	229.99	60.7	47.09	47.26
Receivables Turnover (Average Receivables)	-	5.68	3.44	5.17	5.03
Inventory Turnover (Average Inventory)	-	25.08	12.3	24.32	19.86
Short Term Liquidity
Current Ratio	1.32	1.31	1.79	1.78	1.98
Quick Ratio	1.09	1.13	1.4	1.34	1.65
Operating Cash Flow to Current Liabilities	-0.33	-0.34	0.11	0	-0.11
Days Sales Outstanding (Average Receivables)	-	64.31	106.11	70.73	72.59
Days Outstanding Inventory (Average Inventory)	-	14.56	29.68	15.05	18.38
Average Days Payable Outstanding	-	12.78	21.34	14.64	12.48
Cash Conversion Cycle (Average Days)	-	66.09	114.44	71.14	78.49
Long Term Solvency
Total Debt/Equity	221.04	219.45	93.82	100.08	91.38
Total Debt / Total Capital	68.85	68.7	48.41	50.02	47.75
LT Debt/Equity	5.13	3.41	5.33	5.74	11.29
Long-Term Debt / Total Capital	1.6	1.07	2.75	2.87	5.9
Total Liabilities / Total Assets	73.47	74.24	54.58	53.57	52.63
EBIT / Interest Expense	6.46	8.81	1.4	0.81	1.29
EBITDA / Interest Expense	6.56	8.95	1.55	0.87	1.44
(EBITDA - Capex) / Interest Expense	6.42	8.42	-0.28	0.68	1.17
Total Debt / EBITDA	5.12	3.22	14.29	14.38	8.91
Net Debt / EBITDA	4.31	2.93	7.17	7.18	4.12
Total Debt / (EBITDA - Capex)	5.23	3.42	-78.46	18.46	10.93
Net Debt / (EBITDA - Capex)	4.4	3.12	-39.37	9.22	5.04
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	95.94	-28.33	24.21	9.95
Gross Profit, 1 Yr. Growth %	-	177.89	-53.71	-17.36	6.59
EBITDA, 1 Yr. Growth %	-	194.2	-80.65	7.42	79.24
EBITA, 1 Yr. Growth %	-	194.02	-82.32	10.87	73.53
EBIT, 1 Yr. Growth %	-	194.02	-82.32	10.87	73.53
Earnings From Cont. Operations, 1 Yr. Growth %	-	202.68	-89.08	-24.03	292.88
Net Income, 1 Yr. Growth %	-	202.7	-79.64	-59.3	249.43
Normalized Net Income, 1 Yr. Growth %	-	200.59	-72.71	-69.72	239.38
Diluted EPS Before Extra, 1 Yr. Growth %	-	202.92	-85.19	-59.56	243.24
Accounts Receivable, 1 Yr. Growth %	-	116.78	-27.21	-3.26	30.11
Inventory, 1 Yr. Growth %	-	31.4	75.91	-2.08	-21.11
Net Property, Plant and Equip., 1 Yr. Growth %	-	82.23	220.59	10.04	9.13
Total Assets, 1 Yr. Growth %	-	91.9	14.33	-1.88	19.97
Tangible Book Value, 1 Yr. Growth %	-	86.21	106.05	0.29	21.11
Common Equity, 1 Yr. Growth %	-	86.21	106.05	0.29	21.11
Cash From Operations, 1 Yr. Growth %	-	97.69	-125.2	-98.46	-7.3T
Capital Expenditures, 1 Yr. Growth %	-	760.38	288.13	-80.1	50.17
Levered Free Cash Flow, 1 Yr. Growth %	-	-	-107.46	-149.28	165.52
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	-112.95	-89.96	354.6
Dividend Per Share, 1 Yr. Growth %	-	-	-50	-60	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	18.5	-5.65	16.87
Gross Profit, 2 Yr. CAGR %	-	-	13.21	-37.87	-5.73
EBITDA, 2 Yr. CAGR %	-	-	-24.42	-54.64	38.48
EBITA, 2 Yr. CAGR %	-	-	-27.76	-55.96	38.39
EBIT, 2 Yr. CAGR %	-	-	-27.76	-55.96	38.39
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	-42.5	-71.19	72.77
Net Income, 2 Yr. CAGR %	-	-	-21.49	-71.21	19.26
Normalized Net Income, 2 Yr. CAGR %	-	-	-9.21	-71.21	-4.6
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	-33.02	-75.5	17.94
Accounts Receivable, 2 Yr. CAGR %	-	-	25.61	-16.24	12.19
Inventory, 2 Yr. CAGR %	-	-	52.04	-5.57	-22.81
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	141.7	87.82	9.58
Total Assets, 2 Yr. CAGR %	-	-	48.12	5.92	8.49
Tangible Book Value, 2 Yr. CAGR %	-	-	95.88	43.75	10.21
Common Equity, 2 Yr. CAGR %	-	-	95.88	43.75	10.21
Cash From Operations, 2 Yr. CAGR %	-	-	-29.27	-93.77	5.3
Capital Expenditures, 2 Yr. CAGR %	-	-	477.07	-12.12	-45.34
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-	-72.93	66.05
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-	-85.47	25.68
Dividend Per Share, 2 Yr. CAGR %	-	-	-	-55.28	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	20.38	-0.71
Gross Profit, 3 Yr. CAGR %	-	-	-	2.24	-25.62
EBITDA, 3 Yr. CAGR %	-	-	-	-15.3	-28.14
EBITA, 3 Yr. CAGR %	-	-	-	-16.98	-30.3
EBIT, 3 Yr. CAGR %	-	-	-	-16.98	-30.3
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-	-36.91	-31.18
Net Income, 3 Yr. CAGR %	-	-	-	-36.93	-33.84
Normalized Net Income, 3 Yr. CAGR %	-	-	-	-36.97	-37.14
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	-43.35	-40.94
Accounts Receivable, 3 Yr. CAGR %	-	-	-	15	-3
Inventory, 3 Yr. CAGR %	-	-	-	5.42	2.37
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	85.94	56.73
Total Assets, 3 Yr. CAGR %	-	-	-	29.12	10.41
Tangible Book Value, 3 Yr. CAGR %	-	-	-	56.7	35.77
Common Equity, 3 Yr. CAGR %	-	-	-	56.7	35.77
Cash From Operations, 3 Yr. CAGR %	-	-	-	-80.25	-34.63
Capital Expenditures, 3 Yr. CAGR %	-	-	-	87.83	5.06
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	-25.06
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	-30.65