About Merritronix Ltd.
Merritronix Components Limited was established in 1988 and mainly operates in the Electronics Manufacturing Services (EMS) and Electronic System Design & Manufacturing (ESDM) sectors. The company provides highly reliable electronic assembly systems mainly for the defence, aerospace, telecommunication, and specialised electronics industries.
The company is involved in electronics product manufacturing services, including Printed Circuit Board (PCB) assembly, system integration, testing, box-building solutions, product finishing, and complete electronics product delivery. For manufacturing, the company uses advanced technologies such as Surface Mount Technology (SMT) and Through-Hole Technology (THT).
Merritronix mainly generates revenue from electronics manufacturing services, product management, and trading activities. Recently, the company has also expanded its telecom component supply business for the defence and aerospace electronics sector. The company is associated with major Indian organisations such as Hindustan Aeronautics Limited, Bharat Heavy Electricals Limited, and Bharat Dynamics Limited. It also has more than 20 years of experience in specialised high-precision PCB assembly and has emerged as a strong player in the electronics circuit manufacturing industry.
The company’s vision is to deliver world-class precision-engineered electronics products with the shortest possible production cycle time.
Merritronix Milestones
Merritronix Components Limited started its journey in 1988 to build a strong presence in the electronics industry. In 1994, the company began commercial operations in the telecom sector by supplying cable jointing kits and accessories. As the business expanded, the company entered the electronics manufacturing segment in 2002 to serve the defence, avionics, and communication industries.
In 2006, Merritronix was recognised as a key vendor by Hindustan Aeronautics Limited Hyderabad, for supplying critical electronic components. Later, in 2007, the company upgraded its operations from basic PCB assembly jobs to complete turnkey manufacturing solutions. By 2008, the company started exporting products to Europe and successfully competed with Chinese manufacturers on both quality and pricing, which helped strengthen its position in the electronics manufacturing sector.
Merritronix IPO Important Dates
| IPO Events | Dates |
|---|---|
| IPO Open Date | 1 June 2026 |
| IPO Close Date | 3 June 2026 |
| Basis of Allotment | 4 June 2026 |
| Refund Initiation | 5 June 2026 |
| Shares Credit Date | 5 June 2026 |
| IPO Listing Date | 8 June 2026 |
| Listing Exchange | BSE SME |
Merritronix IPO Price & Investment Details
| IPO Details | Information |
|---|---|
| IPO Price Band | ₹141 – ₹149 per share |
| Face Value | ₹10 per share |
| IPO Size | ₹70.03 Crore |
| Issue Type | Book Built Issue |
| Fresh Issue | 47.00 Lakh Shares |
| Listing Exchange | BSE SME |
| Lot Size | 1,000 Shares |
| Retail Minimum Application | 2 Lots |
| Retail Shares | 2,000 Shares |
| Minimum Investment | ₹2,98,000 |
| Lead Manager | GYR Capital Advisors Pvt. Ltd. |
| Registrar | Bigshare Services Pvt. Ltd. |
Merritronix IPO Investment Details
| Category | Investment Amount |
|---|---|
| Minimum Investment (2 Lots) | ₹2,98,000 |
| Maximum Retail Investment | ₹2,98,000 |
| HNI Minimum Investment | ₹4,47,000 (3 Lots) |
Merritronix Financial Report
| Financial Year | Revenue | Profit After Tax (PAT) |
|---|---|---|
| FY2024 | ₹59.84 Crore | ₹4.92 Crore |
| FY2025 | ₹73.28 Crore | ₹7.11 Crore |
| FY2026 | ₹96.45 Crore | ₹11.84 Crore |
Merritronix Components Limited has shown steady financial growth over the last three financial years. The company’s revenue increased from ₹59.84 crore in FY2024 to ₹96.45 crore in FY2026, while profit after tax (PAT) also improved significantly from ₹4.92 crore to ₹11.84 crore.
Merritronix IPO Valuation
| Valuation Metrics | Details |
|---|---|
| ROE (Return on Equity) | 28.74% |
| ROCE (Return on Capital Employed) | 24.18% |
| EBITDA Margin | 18.42% |
| PAT Margin | 12.27% |
| Debt-to-Equity Ratio | 0.48 |
| EPS (Earnings Per Share) | ₹9.84 |
| NAV (Net Asset Value) | ₹34.12 |
| P/E Ratio | 15.14x |
| RoNW | 28.74% |
| Market Capitalization | ₹281.46 Crore |
Merritronix IPO – Strengths & Weaknesses
| Strengths | Weaknesses |
|---|---|
| Strong presence in Electronics Manufacturing Services (EMS) and ESDM sector. | Business depends heavily on defence, aerospace, and telecom sectors. |
| Specialized in high-precision PCB assembly with 20+ years of experience. | Electronics manufacturing requires high capital investment and technology upgrades. |
| Works with major organizations like HAL, BHEL, and BDL. | Industry faces strong competition from domestic and global manufacturers. |
| Provides end-to-end solutions including PCB assembly, system integration, testing, and box build services. | Raw material costs and supply chain disruptions can affect margins. |
| Uses advanced manufacturing technologies such as SMT and THT. | Dependence on a few large customers may impact revenue concentration. |
| Expanding into telecom components and defence electronics manufacturing. | Technology changes rapidly, requiring continuous investment in infrastructure and skills. |
Merritronix Major Clients
| Major Clients / Organizations | Sector |
|---|---|
| Hindustan Aeronautics Limited (HAL) | Aerospace & Defence |
| Bharat Heavy Electricals Limited (BHEL) | Engineering & Power |
| Bharat Dynamics Limited (BDL) | Defence Manufacturing |
| Telecom Equipment Companies | Telecommunication |
| Aerospace Electronics Companies | Aerospace Electronics |
| Defence Electronics Manufacturers | Defence Sector |
| Industrial Electronics Clients | Industrial Electronics |
Website: merritronix.com
Disclaimer
This article is published by the Namo.in team and founder only for educational and informational purposes. IPO, the stock market, and financial investments are subject to market risks. Please do your own research and analysis before investing. Any profit or loss arising from investments will be your own responsibility and decision.
