Manorama Industries Ltd

₹ 1,157 -3.88%
19 Aug - close price
manoramagroup.co.in BSE: 541974 NSE : MANORAMA
About

Manorama Industries is engaged in manufacturing specialty fats and butter made from exotic seeds and nuts. [1]

Key Points

Products
The product portfolio of the Co includes Mango butter, Mango olein, Mango stearin, Sal butter, Sal olein, Sal stearin, Shea butter, Shea olein, Shea stearin, Cocoa Butter Equivalents, Cocoa Butter Improvers, Chocolates/Hazelnut Spread Fats, Cocoa Butter Optimisers, etc. [1][2]

Website BSE NSE
  • Market Cap ₹ 1,380 Cr.
  • Current Price ₹ 1,157
  • High / Low ₹ 1,749 / 821
  • Stock P/E 54.0
  • Book Value ₹ 225
  • Dividend Yield 0.00 %
  • ROCE 12.9 %
  • ROE 11.7 %
  • Face Value ₹ 10.0
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Pros

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 13.2% for last 3 years.
  • Company might be capitalizing the interest cost
  • Promoter holding has decreased over last 3 years: -3.77%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Edible Oil Industry: Solvent Extraction

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Quarterly Results

Figures in Rs. Crores

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
29.65 46.98 64.95 61.05 61.60 71.14 68.73 77.64 72.97
24.51 36.31 53.58 53.56 52.35 61.85 59.88 66.10 60.36
Operating Profit 5.14 10.67 11.37 7.49 9.25 9.29 8.85 11.54 12.61
OPM % 17.34% 22.71% 17.51% 12.27% 15.02% 13.06% 12.88% 14.86% 17.28%
0.56 1.61 1.48 2.49 1.09 2.65 2.98 1.52 0.66
Interest 1.51 4.19 2.52 2.27 0.99 1.75 1.53 1.50 1.84
Depreciation 1.76 2.03 2.10 2.07 1.80 1.96 2.06 2.07 1.85
Profit before tax 2.43 6.06 8.23 5.64 7.55 8.23 8.24 9.49 9.58
Tax % 29.63% 28.38% 36.09% 42.02% 29.27% 23.69% 30.83% 28.13% 29.33%
Net Profit 1.72 4.35 5.26 3.26 5.34 6.27 5.71 6.82 6.77
EPS in Rs 1.55 3.91 4.73 2.93 4.80 5.26 4.79 5.72 5.68
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Profit & Loss

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
71 96 100 104 133 131 145 210 102 188 208 279 290
71 95 101 101 129 127 143 193 73 144 173 240 248
Operating Profit -0 0 -0 4 4 4 3 17 29 44 36 39 42
OPM % -0% 0% -0% 4% 3% 3% 2% 8% 28% 23% 17% 14% 15%
2 1 3 1 1 1 1 2 3 6 10 8 8
Interest 1 0 1 3 3 2 1 2 5 10 10 6 7
Depreciation 0 0 0 0 1 1 1 1 1 8 8 8 8
Profit before tax 1 1 1 1 2 2 2 16 27 32 27 34 36
Tax % 35% 33% 32% 34% 34% 36% 33% 38% 28% 28% 33% 28%
Net Profit 1 0 1 1 1 1 1 10 19 23 18 24 26
EPS in Rs 5.93 2.42 4.68 5.44 6.14 5.42 6.40 13.15 17.13 20.97 16.47 20.26 21.45
Dividend Payout % 28% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 11%
5 Years: 14%
3 Years: 40%
TTM: 24%
Compounded Profit Growth
10 Years: 54%
5 Years: 77%
3 Years: 7%
TTM: 40%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 81%
1 Year: -24%
Return on Equity
10 Years: 16%
5 Years: 17%
3 Years: 13%
Last Year: 12%

Balance Sheet

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
1 1 2 2 2 2 2 8 11 11 11 12
Reserves 4 4 6 7 8 11 12 17 93 116 134 256
6 6 11 12 4 5 0 18 24 119 85 108
18 35 8 1 3 3 8 3 5 42 19 19
Total Liabilities 29 47 27 22 17 21 23 45 133 289 250 396
1 1 3 3 3 3 3 3 6 51 57 55
CWIP 1 1 0 0 0 0 0 1 16 0 0 42
Investments 5 0 0 0 0 0 0 0 0 0 0 0
21 44 23 19 14 18 20 41 112 237 193 299
Total Assets 29 47 27 22 17 21 23 45 133 289 250 396

Cash Flows

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
0 2 -11 -11 -60 38 -33
0 2 -1 -50 -10 -3 -35
0 -1 16 62 85 -45 117
Net Cash Flow 0 3 3 2 15 -10 49

Ratios

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 59 125 21 11 3 1 3 3 50 32 40 33
Inventory Days 3 31 10 18 6 37 273 669 317 427
Days Payable 64 2 5 5 21 0 11 147 22 19
Cash Conversion Cycle -3 125 21 40 8 14 -13 40 312 553 335 441
Working Capital Days -11 -5 36 39 9 13 -11 33 178 286 249 274
ROCE % 22% 7% 16% 21% 27% 24% 17% 62% 37% 22% 13% 13%

Shareholding Pattern

Numbers in percentages

Sep 2018 Mar 2019 Sep 2019 Mar 2020 Sep 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
85.99 61.03 61.30 61.33 61.33 61.33 61.33 57.26 57.26 57.26 57.26
0.00 0.00 0.00 0.06 0.18 0.67 0.57 2.29 2.40 2.40 2.40
0.00 0.00 0.00 0.01 0.00 0.00 0.00 3.36 3.40 3.40 3.40
14.01 38.97 38.70 38.60 38.49 38.00 38.10 37.09 36.94 36.94 36.94

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