Just for fun, thought I'd math out Meru vs. Andarc if you allowed half started SP (Let's say 3 levels). Taking the nicer damage average for Meru (Kill Point of 3255; 3090 against Andarc). Meru is 127% speed, Andarc is 96% (She barely misses the 4/3, especially considering that her first turn speed is more like 114%).
Meru 1: Blue Sea Dragon. Andarc about cuts magic by 27%, so he takes 1530.
Andarc 1: Lightning Panel. Andarc heals 618 HP.
Meru 2: Freezing Ring. Does 765.
Andarc 2: Lightning Panel. Andarc heals 618 HP.
Meru 3: Freezing Ring. Does 765. And she's out of MP. Out of Dragoon form.
Andarc 3: Attack.
Meru 4: Attack...and 75% chance of eating a counter, at which point she's dead. She can now Defend forever and hope that he doesn't slowly overcome her (But if he takes a turn for Lightning panels, he likely will, and she's likely eating that Counter, which she hates).
Alternate strategy is so try to just use Freezing Rings so that she doesn't run out of MP! After all, she has 10 Freezing Rings and he only has 9 shots of Lightning Panels. This means no MP for healing, and that she'll need to enter Dragoon form several times (Which means attacking several times, which mean engaging counters several times. Given that her PDur even after transformation isn't that amazing, a Counter+Going to Dragoon form where she can't Defend+Healing being met by his evil buffing....I don't think it's impossible that she could win, but it seems like the cards are notably stacked against her. Meru versus decent physical counters is kind of a hideous thing.