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Le Merite Exports Limited (LEMERITE)

₹20.60 -2.46% last close, 16 Oct

📊 NSE: LEMERITE 🏢 Trading - Textile Products 📢 Latest filing: 02 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Le Merite's revenue was ₹89.8 Cr (-18.7% year on year, +19.2% on the previous quarter), and net profit ₹-4.6 Cr (against a profit a year earlier); the operating margin was -10.7%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹89.8	-18.7%	+19.2%
Operating profit	₹-9.6	to loss	loss widened
Net profit	₹-4.6	to loss	to loss
EPS (₹)	-0.36	to loss	to loss
Operating margin	-10.7%	—	—

Full quarterly financials → Results calendar →

LEMERITE delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 69.65% of the LEMERITE shares traded on NSE were taken to delivery, against the stock's own 20-session average of 44.87%. That is higher than usual for this stock. Turnover was only ₹24 lakh, so a handful of trades can move this figure. Volume was 0.4 times its average, well below normal. It closed at a price band (circuit) on 6 sessions in about the last 20.

69.65%Delivery, 16 Oct

44.87%Own 20-session average

0.4×Volume vs its average

₹20.60NSE close · -2.46%

Delivery in the last 5 sessions: 21.2% · 39.8% · 69.7% · 65.4% · 69.7%

Delivery across the market →Circuit stocks →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Le Merite Exports Approves FY26 Financials and Board Appointments with 100% Approval

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 02 Oct 2026, 06:45 PM

Le Merite Exports concluded its 23rd Annual General Meeting on September 30, 2026, passing all 8 resolutions with 100% of votes polled in favor. Approved resolutions included the adoption of FY26 financial statements and the re-appointments of MD & CFO Abhishek Lath and Chairman & MD Umashankar Lath. A total of 7.59 crore votes were polled representing 60.656% of total outstanding shares, heavily led by the promoter group. Public non-institutional turnout was low at 2.703%, with zero valid votes from public institutions.

All 8 resolutions passed unanimously with 100% of polled votes in favour
Overall voter turnout stood at 60.656% across 7,59,21,950 total votes polled
Promoter group polled 7,45,59,000 votes, representing 99.854% of their shareholding
Public non-institutional participation was minimal, with only 2.703% of shares voted (13,62,950 votes)

💡 Track the upcoming Q2 FY27 earnings for operational recovery after the Q1 FY27 net loss of Rs 4.58 crore, alongside progress on migration to the Main Board.

Le Merite Exports Trading Window Closes from October 1, 2026 for Q2 and H1 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 21 Sep 2026, 05:33 PM

Le Merite Exports Limited has informed the exchange that its trading window will remain closed starting Thursday, October 1, 2026. This closure complies with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the announcement of unaudited financial results for the quarter and half year ending September 30, 2026. The window will reopen 48 hours after the declaration of the financial results. The specific date of the Board Meeting to approve the results will be communicated separately.

Trading window closure starts on Thursday, October 01, 2026
Closure applies to Designated Persons and their immediate relatives
Pertains to Unaudited Financial Results for the Quarter and half year ended September 30, 2026
Window to reopen 48 hours post declaration of financial results

💡 Track subsequent filings for the announcement of the Board Meeting date to review Q2 and H1 FY27 financial results.

Le Merite Exports Schedules 23rd AGM for September 30, 2026; Cut-off Date September 23

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Sep 2026, 07:49 PM

Le Merite Exports has issued the notice for its 23rd Annual General Meeting (AGM) scheduled for September 30, 2026, through Video Conferencing. The cut-off date to determine shareholder eligibility for e-voting is September 23, 2026, with remote e-voting running from September 27 to September 29, 2026. The company also published its Annual Report for FY26, in which standalone profit attributable to equity holders was reported at Rs 1,102.67 lakhs (up from Rs 463.37 lakhs in FY25). This is an annual statutory compliance filing without fresh operational surprises.

23rd Annual General Meeting scheduled for Wednesday, September 30, 2026 at 1:00 PM IST via VC/OAVM
Shareholder eligibility cut-off date fixed as Wednesday, September 23, 2026
Remote e-voting window runs from September 27, 2026 (9:00 AM) to September 29, 2026 (5:00 PM)
FY26 standalone profit attributable to equity holders stood at Rs 1,102.67 lakhs compared to Rs 463.37 lakhs in FY25
FY26 standalone basic EPS reported at Rs 4.47 (diluted Rs 4.37) on nominal share value of Rs 10.00

💡 Eligible shareholders should review the AGM resolutions and exercise remote voting rights between September 27 and September 29, 2026. Track upcoming quarterly earnings for signs of operational margin recovery following a weak Q1 FY27 loss.

Le Merite Exports Approves 5-Year Re-Appointments for Key Directors and Internal Auditor

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 08 Sep 2026, 07:32 PM

Le Merite Exports announced board approval for the re-appointment of MD & CFO Abhishek Lath, Chairman & MD Umashankar Lath, and Executive Director Sweta Lath for a five-year term from October 31, 2026 to October 30, 2031, subject to shareholder approval. Additionally, two Independent Directors, Jaydeep Purujit Mehta and Narendra Kumar Srivastava, were recommended for a second five-year term ending December 16, 2031. The board also appointed Accounts Manager Narendra Kumar Sharma as the Internal Auditor for FY27. These decisions ensure executive leadership continuity for a micro-cap company with TTM revenue of ₹451 Cr and market cap of ₹35 Cr.

Re-appointment of MD & CFO Abhishek Lath and Chairman & MD Umashankar Lath for 5 years from October 31, 2026 to October 30, 2031
Executive Director Sweta Lath re-appointed for a 5-year tenure expiring October 30, 2031
Independent Directors Jaydeep Purujit Mehta and Narendra Kumar Srivastava recommended for a 5-year second term starting December 17, 2026
Narendra Kumar Sharma appointed as Internal Auditor for financial year 2026-27

💡 Track voting outcomes at the upcoming 23rd Annual General Meeting regarding the proposed special resolutions and subsequent Q2 FY27 earnings.

Le Merite Exports Re-appoints Key Promoters & Independent Directors for 5-Year Terms

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 08 Sep 2026, 07:23 PM

Le Merite Exports approved the re-appointment of its core promoter leadership—including MD & CFO Abhishek Lath, Chairman & MD Umashankar Lath, and Executive Director Sweta Lath—for a 5-year term from October 31, 2026, to October 30, 2031. Two Non-Executive Independent Directors, Jaydeep Purujit Mehta and Narendra Kumar Srivastava, were also re-appointed for second 5-year terms ending December 16, 2031, subject to shareholder approval. Additionally, the company appointed Accounts Manager Narendra Kumar Sharma as Internal Auditor for FY27.

Re-appointment of Abhishek Lath as MD & CFO for a 5-year term from October 31, 2026 to October 30, 2031
Re-appointment of Umashankar Lath as Chairman & MD for 5 years ending October 30, 2031
Re-appointment of Sweta Lath as Executive Director for 5 years ending October 30, 2031
Independent Directors Jaydeep Purujit Mehta and Narendra Kumar Srivastava re-appointed for second 5-year terms from December 17, 2026 to December 16, 2031
Board approved convening of the 23rd Annual General Meeting

💡 Track voting outcomes at the upcoming 23rd AGM for shareholder approval of the director re-appointments and monitor upcoming quarterly operational performance.

Le Merite Exports Sells Mumbai Investment Property for ₹1.53 Cr to Rationalize Non-Core Assets

🟡 NEUTRAL ⭐ 3/10

OTHER 📅 31 Aug 2026, 07:06 PM

Le Merite Exports Limited has entered into an agreement on August 31, 2026, to sell its investment property in Andheri (East), Mumbai, for a total consideration of ₹1.53 Cr. The property sold is Unit No. 801 at Crescent Business Square Premises Co-operative Society Limited. The transaction is with an unrelated third-party buyer and aligns with the company's objective to optimize its asset base and divest non-core holdings. Given the company's debt of ₹90 Cr and market cap of ₹36 Cr, the transaction size is relatively modest (~4.25% of market cap).

Agreed to sell Unit No. 801, Crescent Business Square, Mumbai, on August 31, 2026
Total transaction value is ₹1.53 Cr (₹1,53,00,000)
Buyer is an independent third party with no related-party involvement
Sale value represents ~4.25% of the company's ₹36 Cr market cap and ~1.7% of its ₹90 Cr debt

💡 Monitor subsequent quarterly disclosures to confirm receipt of cash proceeds and check if the capital is deployed toward working capital or debt repayment.

₹18.80 Cr Fundraise: Le Merite Exports Reports Zero Deviation in Fund Utilization

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 14 Aug 2026, 04:01 PM

Le Merite Exports Limited has submitted its quarterly statement of deviation for the period ended June 30, 2026, regarding funds raised via a preferential issue in September 2025. The company confirmed that there has been no deviation or variation in the utilization of proceeds from the objects stated in the EGM notice. Of the total ₹18.80 crore issue size (comprising equity shares and convertible warrants), the company has received ₹6.17 crore to date. The funds are being utilized for general corporate purposes as per the approved ratio.

Total fundraise size of ₹18.80 crore through preferential issue of shares and warrants.
Actual amount received as of June 30, 2026, is ₹6.17 crore (617.28 Lakhs).
Issue price for both equity shares and warrants was fixed at ₹320 per unit.
Zero deviation reported in the utilization of proceeds for the quarter ended June 2026.
Funds raised include 61,400 equity shares and 526,000 convertible warrants.

💡 Investors should monitor the timeline for the conversion of the remaining 526,000 warrants, which will trigger the inflow of the remaining capital (approximately ₹12.6 crore).

Le Merite Reports Q1 FY27 Net Loss of ₹4.26 Cr Due to ₹11.06 Cr Investment Fair-Value Loss

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 14 Aug 2026, 02:27 PM

Le Merite Exports reported a consolidated net loss of ₹4.26 Cr for Q1 FY27, a sharp reversal from a profit of ₹4.30 Cr in the year-ago period. The loss is primarily driven by a non-cash, unrealized fair-value loss of ₹11.06 Cr on investments (FVTPL), which the management highlights as a market-linked accounting impact rather than an operational failure. Revenue from operations declined 18.7% year-on-year to ₹89.75 Cr, while the company reported an 'adjusted' PAT of ₹4.96 Cr when excluding the investment valuation impact.

Reported a Net Loss of ₹4.26 Cr for Q1 FY27 compared to a profit of ₹4.30 Cr in Q1 FY26.
Recognized an unrealized fair-value loss of ₹11.06 Cr on FVTPL investments during the quarter.
Revenue from operations fell to ₹89.75 Cr from ₹110.46 Cr in the corresponding quarter last year.
Other expenses increased significantly to ₹16.84 Cr from ₹8.15 Cr in Q1 FY26.
Management reported an adjusted Profit After Tax of ₹4.96 Cr excluding the non-cash accounting impact.

💡 Investors should scrutinize the nature of the company's investment portfolio to understand the potential for further FVTPL volatility. Monitor if the 18.7% YoY revenue decline is due to temporary cotton price cycles or a loss in market share.

Le Merite Reports ₹5.96 Cr Underlying PBT in Q1 FY27; Reported Loss of ₹4.26 Cr on FVTPL Impact

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 14 Aug 2026, 02:23 PM

Le Merite Exports reported a standalone net loss of ₹4.26 Cr for Q1 FY27, primarily due to a ₹11.06 Cr non-cash unrealized fair-value loss on investments (FVTPL). Excluding this accounting impact, the company achieved an underlying Profit Before Tax (PBT) of ₹5.96 Cr. Revenue from operations declined 18.7% YoY to ₹89.75 Cr from ₹110.46 Cr. Additionally, the board appointed Ms. Kusum Naruka as an Independent Director following the resignation of Mr. Rohit Agarwal.

Reported standalone Net Loss of ₹4.26 Cr for Q1 FY27 compared to a profit of ₹4.30 Cr in Q1 FY26.
Unrealized fair-value loss on FVTPL investments amounted to ₹11.06 Cr, which is a non-cash accounting charge.
Underlying Profit Before Tax (PBT) stood at ₹5.96 Cr, demonstrating operational profitability.
Revenue from operations fell to ₹89.75 Cr, an 18.7% decline from ₹110.46 Cr in the year-ago quarter.
Ms. Kusum Naruka appointed as Independent Director for a 5-year term effective August 14, 2026.

💡 Investors should focus on the underlying operating profit of ₹5.96 Cr rather than the reported loss, while monitoring the 18.7% YoY revenue decline and the volatility of the company's investment portfolio.

Q1 FY27: Rs 4.25 Cr Net Loss reported due to Rs 11.06 Cr Unrealized Investment Loss

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 14 Aug 2026, 02:19 PM

Le Merite Exports reported a consolidated net loss of Rs 4.25 Cr for Q1 FY27, a sharp reversal from a profit of Rs 4.29 Cr in Q1 FY26. The loss is primarily driven by a non-cash, unrealized fair-value loss of Rs 11.06 Cr on investments (FVTPL), which management highlights as a market-linked accounting impact rather than an operating cash outflow. Revenue from operations declined 18.7% YoY to Rs 89.75 Cr. Excluding the investment impact, the company reported an adjusted PAT of Rs 4.96 Cr.

Reported a Net Loss of Rs 4.25 Cr in Q1 FY27 against a profit of Rs 4.29 Cr in the previous year's quarter.
Recognized an unrealized fair-value loss of Rs 11.06 Cr on FVTPL investments, representing ~15.8% of the company's market cap.
Revenue from operations decreased to Rs 89.75 Cr from Rs 110.46 Cr in Q1 FY26.
Adjusted Profit After Tax (excluding FVTPL impact) is stated at Rs 4.96 Cr.
Appointed Ms. Kusum Naruka as an Independent Director for a 5-year term following the resignation of Mr. Rohit Agarwal.

💡 Investors should scrutinize the nature of the company's investment portfolio to determine if such large mark-to-market swings will continue to impact reported earnings. Monitor if the core revenue decline (18.7% YoY) is a temporary trend or a structural slowdown in the textile trading segment.

Le Merite Reports Q1 FY27 Net Loss of ₹4.26 Cr Due to ₹11.06 Cr Non-Cash Investment Loss

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 14 Aug 2026, 02:14 PM

Le Merite Exports reported a consolidated net loss of ₹4.26 Cr for Q1 FY27, compared to a profit of ₹4.30 Cr in the same quarter last year. The loss is primarily attributed to a non-cash, unrealized fair-value loss of ₹11.06 Cr on investments (FVTPL) under Ind AS 109. Excluding this market-linked accounting impact, the company achieved an adjusted Profit After Tax (PAT) of ₹4.96 Cr. Revenue from operations declined 18.7% year-on-year to ₹89.75 Cr.

Reported a Net Loss of ₹4.26 Cr for Q1 FY27 against a profit of ₹4.30 Cr in Q1 FY26
Recognized a significant non-cash unrealized fair-value loss of ₹11.06 Cr on FVTPL investments
Revenue from operations fell to ₹89.75 Cr from ₹110.46 Cr in the year-ago period
Adjusted PAT (excluding FVTPL impact) stood at ₹4.96 Cr, showing underlying business profitability
Appointed Ms. Kusum Naruka as an Independent Director for a 5-year term following the resignation of Mr. Rohit Agarwal

💡 Investors should focus on the 'Adjusted PAT' to gauge core business health while monitoring the volatility of the company's investment portfolio, which currently causes large swings in reported earnings relative to its ₹70 Cr market cap.

Cancellation of ₹1.45 Lakh Acquisition of 14.5% Stake in Le Merite Tactical & Defence Solutions

🟡 NEUTRAL ⭐ 3/10

M&A 📅 11 Aug 2026, 05:02 PM

Le Merite Exports Limited has announced the cancellation of its proposed acquisition of an additional 14.5% stake in Le Merite Tactical & Defence Solutions Private Limited (LMTDSPL). The transaction, originally approved on June 23, 2026, involved 14,500 shares for a consideration not exceeding ₹1,45,000. The deal was called off because the seller, Mr. Nand Nandan Sureka, expressed unwillingness to proceed with the transfer. Given the transaction value is less than 0.01% of the company's TTM revenue of ₹488 Cr, the financial impact is negligible.

Proposed acquisition of 14,500 equity shares (14.5% stake) in LMTDSPL stands cancelled.
Total consideration for the transaction was capped at ₹1,45,000.
Cancellation is due to the seller, Mr. Nand Nandan Sureka, withdrawing his intent to sell.
Original board approval for this transaction was dated June 23, 2026.
No change will occur in the existing shareholding of the company in LMTDSPL.

💡 Investors should treat this as a non-material event given the extremely small transaction size relative to the company's ₹70 Cr market cap. Focus remains on the core textile business and cotton yarn price trends.

Le Merite Exports corrects FY26 Diluted EPS to 4.37 in revised XBRL filing

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 13 Jul 2026, 01:00 PM

Le Merite Exports Limited has submitted a revised XBRL filing for the financial year ended March 31, 2026, following a clarification request from the National Stock Exchange. The revision addresses a typographical error in the original electronic filing regarding the company's Diluted Earnings Per Share (EPS). The company confirmed the correct Diluted EPS is 4.37, which matches the audited PDF results previously approved by the Board. This is a procedural correction and does not alter the company's reported financial performance.

Corrected Diluted EPS for the year ended March 31, 2026, is 4.37
Revised XBRL filing submitted to NSE on July 10, 2026
Clarification pertains to the reporting period ending March 31, 2026
The correction aligns the XBRL data with the previously approved PDF version of audited results

💡 Investors should verify that financial data on third-party aggregators, which often pull from XBRL data, now reflects the corrected EPS of 4.37 for FY26.

Le Merite Exports Submits Nil Demat/Remat Certificate for Quarter Ended June 30, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Jul 2026, 06:09 PM

Le Merite Exports Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The company's Registrar and Share Transfer Agent (RTA), Bigshare Services Private Limited, confirmed that no requests for dematerialization or rematerialization were received during the quarter ended June 30, 2026. This is a standard administrative filing required by SEBI to confirm the status of share processing. It has no impact on the company's financial performance or business operations.

Quarterly compliance certificate submitted for the period ended June 30, 2026
Zero (0) requests received for dematerialization or rematerialization during the quarter
Confirmation provided by Registrar and Share Transfer Agent, Bigshare Services Private Limited
Filing made in accordance with Regulation 74(5) of SEBI Regulations, 2018

💡 This is a routine procedural filing. Investors should monitor the company's upcoming quarterly financial results for actual business performance updates.

35% Stake in New Technical Textile Park Associate Incorporated

🟢 POSITIVE ⭐ 6/10

EXPANSION 📅 08 Jul 2026, 07:12 PM

Le Merite Exports has incorporated a new associate company, Le Merite Torna Technical Textile Park Private Limited, on July 08, 2026. The company holds a 35% stake in this venture, which has an initial paid-up capital of Rs. 1,00,000. The associate is tasked with developing and managing an integrated technical textile park, including land acquisition, R&D facilities, and logistics infrastructure. While the initial financial commitment is nominal, this move signals a strategic shift toward technical textiles and infrastructure development.

Incorporated 'Le Merite Torna Technical Textile Park Private Limited' on July 08, 2026
Acquired a 35% stake consisting of 3,500 equity shares at Rs. 10 each
Initial paid-up share capital of the associate is Rs. 1,00,000
Project scope includes developing R&D facilities, testing laboratories, and logistics corridors
The venture is currently at the pre-operational stage with no turnover yet

💡 Monitor future disclosures regarding the total project cost, land acquisition progress, and the funding plan for the textile park, as the current investment is only seed capital.

View All LEMERITE Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue for H1 FY26 was INR 208.68 Cr, representing a 29.68% decline from INR 296.77 Cr in H1 FY25. The manufacturing segment accounts for 35% of total sales and experienced losses in FY24 due to commodity price fluctuations.

Profitability Margins

Operating margins declined to 1.4% in FY24 from 2.8% in FY23. Net profit margin for H1 FY26 improved to 4.14% compared to 1.22% in H1 FY25, driven by the clearance of high-priced inventory.

EBITDA Margin

Operating margins stood at 1.4% in FY24, a 50% reduction YoY from 2.8% in FY23, primarily due to losses in the manufacturing division.

Capital Expenditure

The company is currently evaluating setting up a new manufacturing unit to expand current capacities; specific INR values for this planned debt-funded expansion are not disclosed.

Credit Rating & Borrowing

CRISIL reaffirmed the rating at 'CRISIL BBB-' but revised the outlook to 'Negative' from 'Stable' in 2024. The company maintains limited dependence on external borrowings with a gearing ratio of 0.92 times as of March 31, 2024.

⚙️ Operational Drivers

Raw Materials

Cotton yarn is the primary raw material, representing a significant portion of the cost structure for the 35% manufacturing segment.

Capacity Expansion

The company is evaluating a new manufacturing unit to expand its current capacity; current installed capacity in MT is not disclosed.

Raw Material Costs

Raw material costs are highly sensitive to cotton yarn price fluctuations, which caused manufacturing losses in FY24. 80-90% of higher-priced inventory was cleared by FY25 to stabilize margins.

Manufacturing Efficiency

Manufacturing segment was loss-making in FY24 due to high inventory costs and lower realizations.

📈 Strategic Growth

Growth Strategy

Growth is targeted through the migration from the NSE SME Emerge platform to the Main Board (approved Dec 2025), expansion of manufacturing capacity via a new unit, and margin stabilization by clearing high-cost inventory.

Products & Services

Cotton yarn and manufactured textile products.

Brand Portfolio

Le Merite.

Market Expansion

Migration to the NSE Main Board in December 2025 to increase market visibility and access to capital.

🌍 External Factors

Industry Trends

The industry is facing subdued profitability due to commodity volatility, but the company is positioning for a revival in FY25 through capacity expansion and migration to the Main Board.

Competitive Moat

Moat is derived from the extensive experience of the promoters in the textile export business and a comfortable capital structure with a net worth of INR 96 Cr.

Macro Economic Sensitivity

Highly sensitive to global commodity cycles, specifically cotton yarn prices.

⚖️ Regulatory & Governance

Industry Regulations

Migration from SME Emerge to the NSE Main Board requires compliance with broader SEBI (LODR) regulations; the company transitioned to Ind AS reporting in FY25.

Environmental Compliance

The company maintains a CSR policy and has implemented a 'Green Initiative' for paperless electronic compliance.

Taxation Policy Impact

The company transitioned to Ind AS on April 1, 2024, which resulted in deferred tax charges to reserves.

Legal Contingencies

The stock exchange noted a delayed appointment of the Company Secretary and Compliance Officer, which has since been corrected with the appointment of Arpit Sharma.