Manilam Industries India Ltd
Incorporated in 2015, Manilam Industries India Ltd is engaged in the manufacturing and sale
of designer laminate & allied products and Veneer & Plywoods
- Market Cap ₹ 70.7 Cr.
- Current Price ₹ 32.4
- High / Low ₹ 67.0 / 30.2
- Stock P/E
- Book Value ₹ 32.4
- Dividend Yield 0.00 %
- ROCE 8.40 %
- ROE 3.81 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 1.00 times its book value
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 10.6% 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.
Peer comparison
Consumer Discretionary Consumer Durables Consumer Durables Plywood Boards/ Laminates
Part of Nifty SME Emerge
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 | TTM | |
|---|---|---|---|---|---|
| 148.10 | 137.90 | 140.03 | 104.16 | 94.40 | |
| Sales growth | -6.89% | +1.54% | -25.62% | ||
| 139.09 | 123.84 | 122.40 | 92.52 | 86.10 | |
| Operating Profit | 9.01 | 14.06 | 17.63 | 11.64 | 8.30 |
| OPM % | 6.08% | 10.20% | 12.59% | 11.18% | 8.79% |
| 0.72 | 0.14 | 2.14 | 0.41 | 0.08 | |
| Interest | 5.17 | 7.13 | 7.77 | 6.24 | 5.74 |
| Depreciation | 2.38 | 2.64 | 2.65 | 2.87 | 3.00 |
| Profit before tax | 2.18 | 4.43 | 9.35 | 2.94 | -0.36 |
| Tax % | 29.82% | 29.80% | 32.94% | 31.97% | |
| 1.53 | 3.10 | 6.27 | 2.00 | -0.79 | |
| EPS in Rs | 0.95 | 1.93 | 3.89 | 0.92 | -0.36 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -11% |
| TTM: | -26% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 9% |
| TTM: | -68% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 11% |
| Last Year: | 4% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 2.30 | 2.30 | 2.30 | 21.85 | 21.85 |
| Reserves | 21.06 | 24.16 | 31.57 | 48.61 | 48.98 |
| 60.76 | 73.49 | 62.45 | 51.48 | 56.25 | |
| 49.43 | 49.61 | 62.67 | 49.13 | 42.69 | |
| Total Liabilities | 133.55 | 149.56 | 158.99 | 171.07 | 169.77 |
| 34.16 | 32.79 | 29.38 | 28.32 | 27.37 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.30 | 0.30 | 0.30 | 0.30 | 0.30 |
| 99.09 | 116.47 | 129.31 | 142.45 | 142.10 | |
| Total Assets | 133.55 | 149.56 | 158.99 | 171.07 | 169.77 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| -2.87 | -4.19 | 17.60 | -6.08 | |
| -5.05 | -1.22 | 0.81 | -0.95 | |
| 7.84 | 5.60 | -18.44 | 16.55 | |
| Net Cash Flow | -0.08 | 0.18 | -0.03 | 9.52 |
| Free Cash Flow | -7.93 | -5.42 | 18.40 | -7.05 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -29% | -27% | 106% | -50% |
Ratios
Standalone / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 144.35 | 178.19 | 208.63 | 222.55 |
| Inventory Days | 119.01 | 160.53 | 176.39 | 330.84 |
| Days Payable | 126.25 | 133.75 | 177.74 | 188.50 |
| Cash Conversion Cycle | 137.11 | 204.96 | 207.28 | 364.90 |
| Working Capital Days | 30.83 | 37.06 | 49.79 | 133.58 |
| ROCE % | 12.52% | 17.42% | 8.40% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Total Number of Designs (SKUs) count |
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| Laminated Sheets Capacity Utilization % |
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| Laminated Sheets Production Volume Pcs |
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| Laminates Revenue Share % of revenue from operations |
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| Number of Dealers count |
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| Number of Distributors count |
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| Plywood (Manufacturing) Revenue Share % of revenue from operations |
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| Trading Activities Revenue Share % of revenue from operations |
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Extracted by Screener AI
Documents
Announcements
-
Statement of deviation(s) or variation(s) under Reg. 32
- No deviation in IPO fund utilisation for half year ended 30 September 2026.
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Outcome of Board Meeting
- Board approved unaudited results for half year ended 30 September 2026; no IPO fund deviation.
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Resignation of Director/KMP/SMP
- Manilam Industries India Limited has informed about Resignation of Director/KMP/SMP
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Resignation of Director/KMP/SMP
- Manilam Industries India Limited has informed about Resignation of Director/KMP/SMP
-
Resignation
- Rajesh Jalan resigned as Independent Director effective 28 October 2026.
Business Overview:[1]
MIIL, started as a partnership firm viz. B.P. Industries, is engaged in the manufacturing of decorative laminates and the trading of plywood. The company manufactures decorative laminates in various thicknesses (0.7mm to 1mm) and trades plywood in different grades and sizes, primarily serving the industrial and commercial sectors.