Merino Laminates Limited

Merino Laminates Unlisted Shares Logo

The Merino Group was commissioned in 1965 by the late Man Kumar Lohia and his brothers. The Group has since evolved into the largest manufacturer and exporter of laminates in India. The Company is presently managed by a team of multi-genre professionals. With more than half a decade of experience, the Company has established its respect and leadership in the country’s laminates segment.
The Company is headquartered in Kolkata with manufacturing units in Hapur (Uttar Pradesh), Rohad (Haryana), Hosur (Tamil Nadu), and Dahej (Gujarat).
The Company has a presence in almost all the States and markets its products in more than 60 countries. The Company’s network of more than 4000 dealers (doubled in the last five years) helps provide products across more than 2000 outlets.

About the Company

  • Merino Industries is the world’s largest manufacturers of decorative laminates for interiors and has global recognition of being a leader in the laminates and panel industry.
  • Merino Industries was incorporated in 1965 with its registered office in Kolkata. The Group’s network of more than 1080 dealers (doubled in the last five years) provides products across 10,000 pan-India outlets
  • The Group is headquartered in Kolkata, West Bengal, with a presence in over 65 countries across five continents and manufacturing units in Hapur (Uttar Pradesh), Rohad (Haryana), Hosur (Tamil Nadu) and Dahej (Gujarat)
  • Merino Industries is one of the largest laminates brands. Merino is an integrated manufacturer and marketer of interior solution with a wide array of world-class products for homes, offices, commercial and public areas.
  • The Group possesses India’s largest manufacturing laminates capacity of 215 Lakh sheets per annum.
  • The Company forayed into Agro-Food Industry through the cold storage business and subsequently diversified into farming, biotechnology and food processing.

Industry Overview

  • The global decorative laminates market is estimated to reach USD 7.97 Billion by at a CAGR of over 5.0% during the forecast period, 2019–2025.
  • The growth of the global market is primarily driven by the increasing application of decorative laminates in the construction industry. In addition, the low maintenance and installation costs of decorative laminates are also expected to fuel the global market growth.
  • The Indian wood and laminate flooring market size was estimated at USD 2.80 billion in 2019 and is expected to expand at a CAGR of 6.4% in terms of revenue, from 2020 to 2027.
  • The size of the Indian furniture market spread across all the metropolitan cities is estimated to be over INR 60,000 crore. The wooden furniture industry alone covers INR 60 crore in the market.
  • The laminate market alone covers a market of US $2.8 billion along with flooring and furniture, in India. It is expected that the $2.8 billion laminate markets will now expand at 6.4% CAGR between 2020-2027.


  • Laminates
  • Special Laminates
  • Solid Surfaces
  • Performance Laminates
  • Compact
  • Panels
  • Plywood

Business Segments

Interior - Architectural Products

  • The Company’s decorative laminates are available in rich finishes ranging from classic matte to trendy leather and new age jute and fabric.

Information Technology

  • Specialized in Enterprise Solutions such as ERP, CRM, SCM, EAM, CDP, PLM, HCM, ION and business Intelligence implementation, this IT service firm provides value-added services across various industries

Food & Agro Technology

  • A leading brand in the country making Potato Flakes & Instant Snack Mixes, in the ready to cook market. Offering 100% classic Indian, vegetarian snacks which require only a tenth of the cooking time & effort, while retaining authenticity and pleasure of traditional cooking.


  • Merino possesses a wide range of laminates comprising more than 10,000 designs, textures, colours and finishes, possibly the widest in its sector in the country.
  • The Group possesses a 1,080 distributors network, ensuring product availability and accessibility.
  • The Company witnessed an increase in revenues by 0.11% from INR 1472.13 Crore in 2018-19 to INR 1473.72 Crore in 2019-20.
  • The Company observed an increase in revenues from exports by 4.53% to INR 392.79 Crore in FY19-20.
  • The Company maintained a credit rating at AA- in 2019-20.
  • The Company reported 14.46% RoCE in 2019-20.
  • The Company declared and paid 1st Interim Dividend and 2nd Interim Dividend both at the rate of INR 3.50 per share for Financial Year 2019–20.

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