Manilam Industries India Ltd
Incorporated in 2015, Manilam Industries India Limited is engaged in the manufacturing and sale of Decorative Laminates and Plywood.[1]
- Market Cap ₹ 142 Cr.
- Current Price ₹ 65.0
- High / Low ₹ 67.0 / 49.8
- Stock P/E 71.0
- Book Value ₹ 32.2
- Dividend Yield 0.00 %
- ROCE 8.41 %
- ROE 3.83 %
- Face Value ₹ 10.0
Pros
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Company has a low return on equity of 11.6% over last 3 years.
- Company has high debtors of 223 days.
- Working capital days have increased from 73.5 days to 134 days
* 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.
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 148 | 138 | 140 | 104 | |
| 139 | 124 | 122 | 93 | |
| Operating Profit | 9 | 14 | 18 | 12 |
| OPM % | 6% | 10% | 13% | 11% |
| 1 | 0 | 2 | 0 | |
| Interest | 5 | 7 | 7 | 6 |
| Depreciation | 2 | 3 | 3 | 3 |
| Profit before tax | 2 | 4 | 10 | 3 |
| Tax % | 30% | 30% | 29% | 32% |
| 2 | 3 | 7 | 2 | |
| EPS in Rs | 6.65 | 13.48 | 32.09 | 0.92 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -11% |
| TTM: | -26% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 9% |
| TTM: | -73% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 12% |
| Last Year: | 4% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 22 |
| Reserves | 21 | 24 | 32 | 49 |
| 61 | 73 | 62 | 51 | |
| 49 | 50 | 63 | 49 | |
| Total Liabilities | 134 | 150 | 159 | 171 |
| 34 | 33 | 29 | 28 | |
| CWIP | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 |
| 99 | 116 | 129 | 142 | |
| Total Assets | 134 | 150 | 159 | 171 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| -3 | -4 | 16 | ||
| -5 | -1 | 1 | ||
| 8 | 6 | -17 | ||
| Net Cash Flow | -0 | 0 | -0 | |
| Free Cash Flow | -8 | -5 | 17 | |
| CFO/OP | -29% | -27% | 99% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 144 | 178 | 209 | 223 |
| Inventory Days | 119 | 161 | 176 | 331 |
| Days Payable | 126 | 134 | 178 | 189 |
| Cash Conversion Cycle | 137 | 205 | 207 | 365 |
| Working Capital Days | 31 | 37 | 50 | 134 |
| ROCE % | 13% | 17% | 8% |
Documents
Announcements
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Statement of deviation(s) or variation(s) under Reg. 32
29 May 2026 - 29 May 2026: No deviation in IPO proceeds utilisation for year ended 31 March 2026.
-
Outcome of Board Meeting
29 May 2026 - Board approved FY2026 audited results and appointed/reappointed secretarial, internal and tax auditors.
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Outcome of Board Meeting
29 May 2026 - Board approved FY26 audited results and appointed/reappointed secretarial, internal and tax auditors on 29 May 2026.
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Credit Rating
27 May 2026 - Brickwork assigned BBB-/Stable and A3 ratings to ₹42.5 crore bank facilities.
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Structural Digital Database
26 May 2026 - Submitted SDD compliance certificate for FY ended 31 March 2026; no noncompliance observed.
Business Profile[1]
The company is engaged in the manufacturing and sale of decorative laminates & plywood trading. The business primarily operates on a B2B model, contributing around 99% to revenue, wherein products are supplied to distributors who further cater to dealers.[2]