Revenue and Profit Trends
Examining the net sales figures from fiscal year ending March 2019 through March 2025, Meera Industries experienced significant volatility. Sales peaked at ₹35.58 crores in March 2019, followed by a decline to ₹20.27 crores in March 2020. The subsequent years saw a recovery with sales rising to ₹31.66 crores in March 2022, before dipping again to ₹20.34 crores in March 2023. The latest fiscal year ending March 2025 marked a strong resurgence with net sales reaching ₹39.85 crores, the highest in the observed period.
This revenue pattern was mirrored in the company’s profitability metrics. Operating profit (PBDIT) excluding other income swung from a healthy ₹6.26 crores in March 2019 to a marginal ₹0.38 crores in March 2020, and even recorded a loss in March 2023. However, the company rebounded impressively to an operating profit of ₹5.79 crores in March 2025. Similarly, profit after tax (PAT) followed a comparable trend, with a low point in March 2023 showing a loss, but recovering to ₹3.72 crores in March 2025.
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Cost Structure and Margins
Raw material costs have consistently represented a significant portion of total expenditure, rising from ₹22.73 crores in March 2019 to ₹23.46 crores in March 2025. Employee costs have also increased steadily, reflecting the company’s scaling operations. Other expenses have remained relatively stable, though they have slightly decreased in recent years.
Operating profit margins excluding other income have fluctuated considerably, from a robust 17.59% in March 2019 to a negative margin in March 2023, before recovering to 14.53% in March 2025. The PAT margin similarly dipped to negative territory in March 2023 but improved to 9.34% by March 2025, signalling a return to profitability and operational efficiency.
Balance Sheet and Financial Position
Meera Industries’ balance sheet reflects growth in shareholder funds, increasing from ₹23.36 crores in March 2020 to ₹29.15 crores in March 2025. The company has taken on long-term borrowings in recent years, rising to ₹4.33 crores by March 2025, indicating strategic financing to support expansion or capital expenditure. Total liabilities have grown in tandem, reaching ₹43.25 crores in the latest fiscal year.
On the asset side, net block values have increased steadily, suggesting ongoing investment in fixed assets. Capital work in progress surged notably to ₹7.32 crores in March 2025, highlighting active development projects. Current assets have remained relatively stable, with inventories and sundry debtors showing moderate fluctuations.
Cash Flow and Liquidity
Cash flow from operating activities has shown improvement, with a positive ₹5.00 crores in March 2025 after a negative cash flow in the previous year. Investing activities have consistently been cash outflows, reflecting ongoing capital investments. Financing activities contributed positively in recent years, supporting the company’s liquidity and growth initiatives. Closing cash and cash equivalents stood at ₹1.00 crore in March 2025, indicating a modest but stable liquidity position.
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Summary and Outlook
Overall, Meera Industries’ historical performance reveals a company that has navigated through periods of volatility and operational challenges to achieve a sustainable turnaround. The recent fiscal years demonstrate a clear recovery in sales, profitability, and financial stability. The company’s improving margins and strengthened balance sheet position it well for future growth, although the increased debt levels warrant monitoring.
Investors and market watchers should note the company’s ability to rebound from losses and maintain positive cash flows, signalling operational resilience. Continued focus on cost management and capital investment will be critical to sustaining this upward trajectory in a competitive industrial manufacturing environment.
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