Manorama Industries Ltd
₹ 1,744
7.98%
14 Aug
11:25 a.m.
About
Manorama Industries is engaged in manufacturing specialty fats and butter made from exotic seeds and nuts. [1]
Key Points
- Market Cap ₹ 11,009 Cr.
- Current Price ₹ 1,744
- High / Low ₹ 1,864 / 1,061
- Stock P/E 41.6
- Book Value ₹ 116
- Dividend Yield 0.04 %
- ROCE 35.4 %
- ROE 40.3 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is expected to give good quarter
- Company has delivered good profit growth of 74.1% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 29.7%
- Debtor days have improved from 32.2 to 15.1 days.
- Company's median sales growth is 34.0% of last 10 years
Cons
- Stock is trading at 14.9 times its book value
* 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.
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Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 133 | 131 | 145 | 210 | 102 | 188 | 203 | 279 | 351 | 457 | 771 | 1,358 | 1,472 | |
| 129 | 127 | 143 | 193 | 73 | 144 | 168 | 240 | 294 | 384 | 580 | 990 | 1,074 | |
| Operating Profit | 4 | 4 | 3 | 17 | 29 | 44 | 35 | 39 | 56 | 74 | 191 | 368 | 398 |
| OPM % | 3.2% | 3.0% | 1.9% | 8% | 28% | 23% | 17% | 14% | 16% | 16% | 25% | 27% | 27% |
| 1 | 1 | 1 | 2 | 3 | 6 | 6 | 8 | 6 | 13 | 19 | 11 | 22 | |
| Interest | 3 | 2 | 1 | 2 | 5 | 10 | 10 | 6 | 9 | 20 | 39 | 38 | 38 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 8 | 8 | 8 | 11 | 14 | 22 | 26 | 26 |
| Profit before tax | 2 | 2 | 2 | 16 | 27 | 32 | 22 | 34 | 43 | 53 | 148 | 316 | 356 |
| Tax % | 34% | 36% | 33% | 38% | 28% | 28% | 35% | 28% | 31% | 25% | 24% | 26% | |
| 1 | 1 | 1 | 10 | 19 | 23 | 15 | 24 | 30 | 40 | 112 | 233 | 264 | |
| EPS in Rs | 1.23 | 1.08 | 1.28 | 2.63 | 3.43 | 4.20 | 2.62 | 4.05 | 5.00 | 6.73 | 18.80 | 39.06 | 44.25 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 8% | 6% | 3% | 2% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 26% |
| 5 Years: | 46% |
| 3 Years: | 57% |
| TTM: | 59% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 70% |
| 5 Years: | 74% |
| 3 Years: | 99% |
| TTM: | 77% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 39% |
| 3 Years: | 67% |
| 1 Year: | 17% |
| Return on Equity | |
|---|---|
| 10 Years: | 24% |
| 5 Years: | 25% |
| 3 Years: | 30% |
| Last Year: | 40% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 8 | 11 | 11 | 11 | 12 | 12 | 12 | 12 | 12 |
| Reserves | 8 | 11 | 12 | 17 | 93 | 116 | 134 | 256 | 286 | 325 | 450 | 683 |
| 4 | 5 | 0 | 18 | 24 | 119 | 85 | 108 | 110 | 346 | 482 | 355 | |
| 3 | 3 | 8 | 3 | 5 | 42 | 24 | 19 | 16 | 53 | 41 | 150 | |
| Total Liabilities | 17 | 21 | 23 | 45 | 133 | 289 | 254 | 396 | 424 | 737 | 985 | 1,200 |
| 3 | 3 | 3 | 3 | 6 | 51 | 57 | 55 | 97 | 129 | 176 | 195 | |
| CWIP | 0 | 0 | 0 | 1 | 16 | 0 | 0 | 42 | 50 | 42 | 5 | 18 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10 |
| 14 | 18 | 20 | 41 | 112 | 237 | 197 | 299 | 278 | 565 | 804 | 977 | |
| Total Assets | 17 | 21 | 23 | 45 | 133 | 289 | 254 | 396 | 424 | 737 | 985 | 1,200 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2 | -11 | -11 | -60 | 33 | -33 | 59 | -154 | -59 | 259 | |||
| 2 | -1 | -50 | -10 | 11 | -35 | -99 | -62 | -34 | -87 | |||
| -1 | 16 | 62 | 85 | -45 | 117 | -7 | 214 | 93 | -165 | |||
| Net Cash Flow | 3 | 3 | 2 | 15 | -0 | 49 | -47 | -1 | 0 | 7 | ||
| Free Cash Flow | 1 | -14 | -32 | -91 | 29 | -93 | 8 | -193 | -90 | 206 | ||
| CFO/OP | 72% | -47% | -16% | -126% | 121% | -56% | 126% | -188% | -15% | 93% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 3 | 1 | 3 | 3 | 50 | 32 | 40 | 33 | 29 | 33 | 48 | 15 |
| Inventory Days | 10 | 18 | 6 | 37 | 273 | 669 | 391 | 535 | 272 | 586 | 516 | 349 |
| Days Payable | 5 | 5 | 21 | 0 | 11 | 147 | 24 | 24 | 7 | 60 | 13 | 39 |
| Cash Conversion Cycle | 8 | 14 | -13 | 40 | 312 | 553 | 408 | 544 | 294 | 559 | 551 | 325 |
| Working Capital Days | 0 | -0 | -11 | 2 | 94 | 56 | 128 | 172 | 119 | 100 | 105 | 100 |
| ROCE % | 27% | 24% | 17% | 62% | 37% | 22% | 14% | 13% | 13% | 13% | 23% | 35% |
Insights
In beta| Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Export Revenue Share % |
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| Top 5 Customer Concentration % of TOI |
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| Number of Countries Served count |
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| Stearin + CBE Production Volume MT |
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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Investor Presentation
- Investor Presentation with respect to Unaudited Financial Results for the Quarter ended June 30, 2026.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
- Q1 FY27 revenue rose 39.5% to Rs 4,040.1 million; PAT up 67.6%; Chad subsidiary incorporated.
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Intimation Of Record Date For The Purpose Of Final Dividend.
- Record date for final dividend set as September 14, 2026, subject to AGM approval.
- Outcome Of The Board Meeting Of The Company Held Today I.E. Thursday, August 13, 2026.
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Board Meeting Outcome for Outcome Of The Board Meeting Of The Company Held Today I.E. Thursday, August 13, 2026
- Manorama approved Q1 FY27 results; standalone profit rose to ₹8,158.59 lakh; AGM on September 21, 2026.
Annual reports
Concalls
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Aug 2026TranscriptAI SummaryPPT
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May 2026Transcript PPT REC
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Jan 2026Transcript PPT REC
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Oct 2025Transcript PPT REC
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Jul 2025TranscriptAI SummaryPPT
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May 2025Transcript PPT REC
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Jan 2025Transcript PPT
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Oct 2024TranscriptAI SummaryPPT
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Aug 2024Transcript PPT
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May 2024TranscriptAI SummaryPPT
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Feb 2024TranscriptAI SummaryPPT
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Nov 2023TranscriptAI SummaryPPT
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Aug 2023TranscriptAI SummaryPPT
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May 2023TranscriptAI SummaryPPT
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Jan 2023TranscriptAI SummaryPPT
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Nov 2022TranscriptAI SummaryPPT
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Aug 2022TranscriptAI SummaryPPT
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May 2022TranscriptAI SummaryPPT
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Feb 2022TranscriptAI SummaryPPT
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Nov 2021TranscriptAI SummaryPPT
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Aug 2021TranscriptAI SummaryPPT
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Jul 2021TranscriptAI SummaryPPT
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Jun 2021TranscriptAI SummaryPPT
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Jun 2021TranscriptAI SummaryPPT
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Apr 2021TranscriptAI SummaryPPT
Business Profile[1]
Manorama Industries is a leading manufacturer of specialty fats and butters derived from Sal and Mango seeds. The company operates on a "Waste to Wealth" business model, procuring exotic tree-borne seeds, processing them, and manufacturing cocoa butter equivalents (CBE) and specialty fats for various industries, including food, chocolate, confectionery, and cosmetics.