Manorama Industries Ltd
MANORAMA NSE
Manorama Industries Ltd
Food ProductsNSE: MANORAMA BSE: 541974
Key Fundamentals
MicrocapFood ProductsMarket Cap
₹12,179 Cr
Volatility
High Risk
P/E Ratio
42.88
EBITDA
₹351 Cr
Return on Equity
23.88%
Debt to Equity
0.51
Book Value
₹187.28
EPS
₹7.06
52W High
₹2,043
52W Low
₹1,060.6
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Manorama Industries Ltd insights
58 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
6- 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
Weaknesses
1- Stock is trading at 16.7 times its book value
Growth Rate
Revenue Growth
72.61% ↗
Net Income Growth
95.66% ↗
Cash Flow Change
-860.70% ↘
ROE
40.00% ↘
ROCE
-
EBITDA Margin (Avg.)
-2.60% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 18d agoAI opinion · based on fundamentals
Risk high
Manorama Industries Ltd is a food products company with a market cap of ₹10,268 Cr, trading at a P/E of 45.9x. The company has delivered exceptional profit growth of 74% CAGR over 5 years and TTM sales growth of 76%, though it trades at a significant premium to book value at 8.73x P/B.
Bull Case 8
- Exceptional profit growth with 5-year compounded profit CAGR of 74% and TTM profit growth of 108%
- Strong revenue momentum with TTM sales growth of 76% and 3-year compounded sales CAGR of 57%
- Consistent return on equity with last year ROE at 40% and 3-year average ROE of 30%
- Significant improvement in working capital efficiency with debtor days declining from 32.2 to 15.1 days
- Long-term compounding track record with 10-year compounded sales growth of 26% and profit growth of 70%
- Company has been actively reducing debt, improving balance sheet quality
- Median sales growth of 34% over the last 10 years indicates consistent demand for its products
- 5-year ROE of 25% and 10-year ROE of 24% demonstrate sustained capital efficiency across market cycles
Bear Case 8
- Stock trades at 14.0x book value, a steep premium that leaves limited margin of safety
- P/E ratio of 45.9x is elevated for a food products company, pricing in significant future growth
- Dividend yield of only 0.04% offers negligible income return to shareholders
- 52-week high and low data unavailable (showing 0), making it difficult to assess recent price range and volatility
- Small-to-mid cap at ₹10,268 Cr market cap may carry higher liquidity risk and volatility compared to large-cap food peers
- Current growth rates of 76% sales and 108% profit growth may be difficult to sustain, creating deceleration risk
- P/B of 8.73x implies the market expects continued high ROE; any compression in ROE from 40% could trigger re-rating downward
- Stock CAGR of 7% over 1 year lags the profit growth of 108% TTM, suggesting market may already be pricing in execution risk
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 15d ago Positives 1
- Chad subsidiary incorporated Jul 21
Manorama Industries incorporated Manorama Savannah Agro Chad SARL on July 20, 2026, with paid-up capital of CFA 10,000,000, signaling international expansion into African markets.
Neutral 2
- Board approves Chad expansion Jul 9
Board approved incorporating a wholly owned subsidiary in Chad on July 09, 2026, preceding the formal incorporation on July 20.
- Promoter holding steady at 51.38% Jul 8
Promoters hold 51.38% of total issued capital as of July 04, 2026, disclosed under SEBI Takeover Regulations, indicating stable ownership structure.
TL;DR: Manorama Industries is actively pursuing international expansion with a new subsidiary in Chad, suggesting management confidence in growing its food products business in African markets. Promoter holding remains stable above 51%, reflecting no dilution concerns. No headwinds are visible in recent news flow. The trend is mildly positive with geographic diversification as the key forward catalyst.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 112 | 118 | 98 | 129 | 133 | 195 | 209 | 233 | 290 | 323 | 363 | 382 | 404 |
| Expenses | 93 | 99 | 83 | 109 | 107 | 150 | 154 | 169 | 211 | 236 | 264 | 279 | 295 |
| Operating Profit | 19 | 18 | 16 | 21 | 27 | 45 | 55 | 64 | 79 | 88 | 98 | 103 | 109 |
| OPM % | 17% | 16% | 16% | 16% | 20% | 23% | 26% | 27% | 27% | 27% | 27% | 27% | 27% |
| Other Income | 3 | 2 | 4 | 4 | 4 | 3 | 2 | 9 | 5 | 1 | 11 | -5 | 16 |
| Interest | 2 | 5 | 6 | 7 | 8 | 8 | 11 | 12 | 9 | 8 | 11 | 9 | 10 |
| Depreciation | 3 | 3 | 4 | 4 | 4 | 6 | 6 | 6 | 6 | 6 | 6 | 7 | 6 |
| PBT | 16 | 12 | 11 | 14 | 18 | 35 | 40 | 55 | 69 | 74 | 92 | 81 | 109 |
| Tax % | 30% | 30% | 30% | 10% | 26% | 24% | 27% | 23% | 27% | 26% | 25% | 26% | 25% |
| Net Profit | 12 | 9 | 7 | 12 | 14 | 27 | 30 | 42 | 51 | 55 | 68 | 60 | 82 |
| EPS in Rs | 1.94 | 1.44 | 1.25 | 2.1 | 2.27 | 4.48 | 4.95 | 7.09 | 8.48 | 9.19 | 11.43 | 9.97 | 13.66 |
Profit & Loss
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 133 | 131 | 145 | 210 | 102 | 188 | 203 | 279 | 351 | 457 | 771 | 1,358 | 1,472 |
| Expenses | 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% | 1.9% | 8% | 28% | 23% | 17% | 14% | 16% | 16% | 25% | 27% | 27% |
| Other Income | 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 |
| PBT | 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% | — |
| Net Profit | 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 | 4.2 | 2.62 | 4.05 | 5 | 6.73 | 18.8 | 39.06 | 44.25 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 8% | 6% | 3% | 2% | — |
Balance Sheet
| 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 |
| Borrowings | 4 | 5 | 0 | 18 | 24 | 119 | 85 | 108 | 110 | 346 | 482 | 355 |
| Other Liabilities | 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 |
| Fixed Assets | 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 |
| Other Assets | 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 Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | — | 2 | — | -11 | -11 | -60 | 33 | -33 | 59 | -154 | -59 | 259 |
| Investing | — | 2 | — | -1 | -50 | -10 | 11 | -35 | -99 | -62 | -34 | -87 |
| Financing | — | -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
| 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% |
Documents
1
Announcement under Regulation 30 (LODR)-Change in Management
8h - FY26 audited results approved; 40% dividend recommended; up to ₹150 crore support for Burkina Faso factory. 8h - FY26 audited results approved; 40% dividend recommended; up to ₹150 crore support for Burkina Faso factory.
2
Announcement under Regulation 30 (LODR)-Press Release / Media Release
8h - Manorama reported FY26 revenue up 76.1%, PAT up 108.1%; declared 40% final dividend and ₹460 crore capex. 8h - Manorama reported FY26 revenue up 76.1%, PAT up 108.1%; declared 40% final dividend and ₹460 crore capex.
3
Announcement under Regulation 30 (LODR)-Press Release / Media Release (Revised)
4h - Manorama Industries released revised FY26 audited results, reporting 76.1% revenue growth and 40 paise final dividend. 4h - Manorama Industries released revised FY26 audited results, reporting 76.1% revenue growth and 40 paise final dividend.
4
Board Meeting Outcome for Revised Outcome Of Board Meeting
4h - Board approved FY26 audited results, 40% final dividend, and up to Rs 150 crore support for Burkina Faso factory. 4h - Board approved FY26 audited results, 40% final dividend, and up to Rs 150 crore support for Burkina Faso factory.
5
Board Meeting Intimation for Annual Audited Financial Results And Dividend Scheduled To Be Held On May 11, 2026
6 May - Board meets May 11, 2026 to approve FY26 results and consider final dividend. 6 May - Board meets May 11, 2026 to approve FY26 results and consider final dividend.
Frequently Asked Questions about Manorama Industries Ltd
What does Manorama Industries Ltd do?
Manorama Industries is engaged in manufacturing specialty fats and butter made from exotic seeds and nuts. [1]
Where is Manorama Industries Ltd (MANORAMA) listed?
Manorama Industries Ltd is listed on the Indian stock exchanges. It is listed on NSE: MANORAMA and BSE: 541974. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Manorama Industries Ltd belong to?
Manorama Industries Ltd operates in the Food Products sector. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Manorama Industries Ltd?
Manorama Industries Ltd has a market capitalisation of approximately ₹12178.83 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Manorama Industries Ltd?
The Price-to-Earnings (PE) ratio of Manorama Industries Ltd is 42.88. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Manorama Industries Ltd?
Over the past 52 weeks, Manorama Industries Ltd has traded between a low of ₹1,060.6 and a high of ₹2,043. This range helps investors understand the stock's price volatility and recent trading levels.
Does Manorama Industries Ltd pay dividends?
Yes, Manorama Industries Ltd has a dividend yield of 0.04%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Manorama Industries Ltd?
Manorama Industries Ltd has a Return on Equity (ROE) of 23.88%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Manorama Industries Ltd on Tapetide?
On Tapetide, you can view Manorama Industries Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Manorama Industries is engaged in manufacturing specialty fats and butter made from exotic seeds and nuts. [1]
Website manoramagroup.co.in
CEO Mr. Ashish Ramesh Saraf
Employees 498
Listed 2022-07-01
Face Value ₹ 2
Issued Size 5,97,08,530