Merino Industries Ltd. has announced its results for FY24

Author

Financial Analyst Intern

Publish Date5 September 2024

Reading time2 Min

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Revenue - In FY24, the company's revenue grew by 4%, increasing from Rs. 2,176 cr in FY23 to Rs. 2,252 cr in FY24, driven by higher sales of panel products, furniture, and potato flakes, despite a slight decline in laminator sales. The net income of the company rose by 3%, from Rs. 118 cr in FY23 to Rs. 122 cr in FY24. This led to a 3% increase in EPS, which went up from Rs. 105 in FY23 to Rs. 109 in FY24.
Financial position - The company's total asset base grew by 13%, rising from Rs. 2,310 cr in FY23 to Rs. 2,599 cr in FY24. Additionally, total equity increased by 9%, moving from Rs. 1,248 cr in FY23 to Rs. 1,360 cr in FY24.
Future prospects - The Directors and Management of your Company anticipate steady growth and favorable outcomes in the coming years. Moreover, the company has invested Rs. 9 cr in comprehensive energy conservation measures, air emission control, waste value creation, and water conservation projects, marking a commitment to ecological sustainability.