Merritronix IPO — Broker Reviews

Strong presence in defence and aerospace electronics manufacturing with long-term contracts and high entry barriers. Valuation appears reasonable compared to listed peers.

Healthy revenue and PAT growth with improving margins. Order book visibility from defence sector supports medium-term outlook.

Business is niche and growth-oriented but execution risk remains due to dependence on government and defence contracts.

Strong technical capabilities in mission-critical electronics with improving ROE and scalable manufacturing setup.

Long-term structural story in defence electronics and ESDM sector with steady earnings growth trajectory.