LE MERITE EXPORTS LIMITED Share price

Le Merite Exports Limited was originally incorporated as a Private Limited Company in name and style of 'Didwaniya Yarn Exports Private Limited' on December 24, 2003 issued by the Registrar of Companies, Maharashtra, Mumbai. Further, name of the Company was changed to 'Le Merite Exports Private Limited' and the Assistant Registrar of Companies, Maharashtra, Mumbai issued a fresh Certificate of Incorporation dated September 02, 2004, upon change of name. Further, Company got converted into a Public Limited Company and name of the Company was changed to 'Le Merite Exports Limited' vide a fresh Certificate of Incorporation dated July 08, 2015. Abhishek Lath & Umashankar Lath are the Present Promoters of the Company. Le Merite Exports Limited, is a prominent name in the cotton yarn and greige fabrics manufacturing industry. Renowned globally, 'Le Merite' has become a trusted brand in numerous yarn-importing countries. Le Merite Exports is Limited an ISO 9001:2015 certified company is vertically integrated into manufacturing and trading of textile products namely cotton yarn, greige fabric and finished fabric for domestic and export sales. The Company deal in diversified product portfolio to supply compact cotton yarn, combed carded & double yarn that are used in various forms for ultimate customers. 'Le Merite' is a well-renowned & popular brand name in several yarn importing countries. The Company is a recognized 3 Star Export House and exports more than 20,000 tons of yarn annually. The Company incorporated two subsidiary companies for diversification into non cotton yarn products. The Company's manufacturing plant Unit I located in Nagpur is engaged in processing of cotton yarn doubling. The Company has undertaken Operation and Management of Unit 1 with Sainath Textiles Private Limited for a period of 4 years. As per arrangement, the Company has exclusive rights to sell the product manufactured at Unit 1. Unit II is located in the cotton growing belt of Maharashtra and is engaged in manufacturing of Cotton Yarn with an installed capacity of 3040 MTPA. The Company is presently operating Unit 3 located at MIDC (Plot No. B1), Jalgaon Arvi, Dist Amravati, in Maharashtra. Unit 3 comprises of factory building, Godowns and other ancillary construction. Unit 3 is well equipped with Raw Material like Cotton Bales, Process - Blowroom, Carding, Draw frame, Speed frame, Ring frame, Link coner, YCP Finished Goods - Yarn and Spinning Plant Machineries. Unit 3 is engaged in manufacturing of Cotton Yarn with an installed capacity of 6000 MTPA. The Company is certified by some of the most reputed global certification agencies for quality, environment consciousness, processes and customer services such as ISO 9001:2015, OEKO-TEXr Standard 100, Global Organic Textile Standard (GOTS) for 100% Organic cotton yarn and greige fabric. The Company is also a registered member of Better Cotton Initiative (BCI) etc. In March 2006, the entire Share Capital of Company got transferred by Didwaniya family to the Lath family and the control of Company was handed over to Lath Family, the New Promoters of the Company, Mr. Abhishek Lath & Ms. Umashankar Lath, pursuant to Share Transfer Deed. The Company raised money from public through IPO by issuing upto 64,00,000 Equity Shares of Rs 10/- each aggregating to Rs 48 Crore in April, 2022. The Company, in 2023-24, has diversified into the lucrative businesses of Defence forces by obtaining a DRDO license, which enables it to diversify from its traditional commodity-based manufacturing to high value customers like defence, Para Military forces, Ministry of home affairs forces (like CRPF, BSF), Railways, Government hospitals etc effective from May 23, 2024. The Company has started actively participating in government tenders for Ministry of Defence (Army, Navy, and Airforce) and Indian Railways operates extensive barracks for staff in FY 2025.