NSE: MANORAMA · BSE: 541974 · ISIN INE00VM01036
Manorama Industries Limited stock analysis
Manorama Industries Limited ranks #87 in the TickerSutra evidence-ranked universe with a score of 73/100 and 95% data confidence. The latest captured fundamentals show ROCE of 35.4%, quarterly sales growth of 39.5% and quarterly profit growth of 61.3%.Watchlist candidate
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- ROCE is 35.4%
- 57% three-year sales CAGR
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Debt/equity is above 0.5×
- Valuation is above 40× earnings
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹279cr | ₹39cr | ₹24cr | 14.0% |
| 2023 | ₹351cr | ₹56cr | ₹30cr | 16.0% |
| 2024 | ₹457cr | ₹74cr | ₹40cr | 16.0% |
| 2025 | ₹771cr | ₹191cr | ₹112cr | 25.0% |
| 2026 | ₹1,358cr | ₹368cr | ₹233cr | 27.0% |
| TTM | ₹1,472cr | ₹398cr | ₹264cr | 27.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Manorama Industries Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineManorama Industries Ltd - 541974 - Shareholder Meeting / Postal Ballot-Scrutinizer''s ReportBSE · 23 Sept 2026Scrutinizer''s Report
RoutineShareholders meetingNSE · 23 Sept 2026Manorama Industries Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 21, 2026. Further, the company has informed the Exchange regarding voting results.
RoutineManorama Industries Ltd - 541974 - Board Meeting Outcome for Outcome Of The Board Meeting Of The Company Held On Tuesday, September 22, 2026.NSE · 22 Sept 2026Outcome of the Board meeting of the company held on Tuesday, September 22, 2026.
RoutineManorama Industries Ltd - 541974 - Shareholder Meeting / Postal Ballot-Outcome of AGMBSE · 21 Sept 2026Summary of the proceedings of the 21st Annual General Meeting of the Company held on Monday, September 21, 2026.
MANAGEMENT COMMENTARY
Signals from filed documents
These efforts are aligned with our strategy to strengthen our leadership position in specialty fats and butters, particularly in the Cocoa Butter Alternatives segment. Additionally, the Company has outlined a strategic capital expenditure plan aimed at driving forward and backward integration, expanding refining capabilities, and strengthening global sourcing infrastructure, including the establishment of a processin
Expansion in Burkina Faso and operational progress in Brazil further enhanced our global reach and sourcing resilience. Outcomes • Presence strengthened across India, West Africa, UAE and Brazil • 10 subsidiaries operational globally • Taang Kaam Industries SA operationalised in Burkina Faso • First commercial production batch successfully achieved in Brazil • Enhanced proximity to both raw material origins and custo
Profit After Tax (PAT) more than doubled to `233.2 Crore in 2025–26 from `112.1 Crore in 2024–25, registering a growth of 108.1% year-on-year. PAT margin also strengthened to 17.2% from 14.5% in the previous financial year, reflecting the Company’s strong operating leverage and improving profitability profile. 82 Risks and Concerns Mitigations MIL's sourcing model relies significantly on forest-based raw materials pr
organic beauty sales reached USD 182.94M in 2022 Influencer & Digital Marketing Targeted engagement through industry exhibitions, trade publications, and email marketing campaigns is strengthening brand visibility and B2B customer reach. E-Commerce Expansion Online channels growing at CAGR 6.75%; convenience, variety, and competitive pricing drive adoption Men’s Grooming Trend Men’s segment growing at CAGR 6.99%; shi
The Company recorded strong revenue growth, reflecting sustained demand across the food and cosmetics sectors, while also reinforcing the resilience of its value chain. A key milestone achieved during the year was the enhancement of installed capacity at Solvent Fractionation Plant 2, alongside continued focus on future capacity expansion. These efforts are aligned with our strategy to strengthen our leadership posit
During the financial year under review, the Board of Directors of the Company, at its meeting held on March 12, 2026, approved the raising of funds through a Qualified Institutional Placement (“QIP”), which was subsequently approved by the shareholders of the Company on April 19, 2026. Pursuant thereto, at its meeting held on July 02, 2026, the Board of Directors approved the allotment Manorama Industries Limited Ann
Favourable Industry Dynamics The increasing use of specialty fats in food and non-food applications, coupled with evolving consumer preferences for premium and plant-based products, continues to expand the addressable market. Regulatory acceptance of CBEs and growing awareness of sustainable alternatives further strengthen the industry’s growth prospects. Manorama Industries Limited Annual Report 2025-26 Corporate Ov
During the year under review, the Company has not raised any funds through preferential allotment or qualified institutions placement as specified under Regulation 32 (7A) of the SEBI Listing Regulations. During the financial year under review, the Board of Directors of the Company, at its meeting held on March 12, 2026, approved the raising of funds through a Qualified Institutional Placement (“QIP”), which was subs
As we continue to strengthen our market position and expand our global presence, we remain focused on executing our long-term strategy, driving innovation and delivering consistent, sustainable value creation for all our stakeholders. We have entered financial year '27 with strong conviction and momentum delivering a 39.5% year-on-year revenue growth in quarter 1 financial year 27 and crossing the INR4,000 million qu
New Products Introduced During FY26 New Developments During FY26 Financial Statements Statutory Reports Corporate Overview 25 Manorama Industries Limited Annual Report 2025-26 Why Tree-Borne Seeds Matter More Than Ever OPERATING LANDSCAPE Positioned at the Intersection of Nature and Science Global food and personal care industries are undergoing a period of significant transformation. Consumers increasingly seek prod
Environmental Justice, Positive Economic Development Fostering Cleaner Environment Key Initiatives • Recycling, reuse, reprocess of water • Installation of solar lighting systems across tribal communities • Promotion of organic and responsibly sourced wild-harvested raw materials • Skill development and livelihood enhancement programmes for women • Equal remuneration and inclusive workplace practices • ISO 14001:2015
• Pr omotion of transparent, traceable sourcing practices, including direct payments through banking channels. Negative – Deforestation- related risks may lead to supply chain disruptions, increased compliance costs, and restricted access to key export markets with stringent sustainability requirements. Potential reputational damage and evolving regulatory obligations could also impact revenue growth and long-term bu
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
DIRECTOR & BUSINESS NETWORK
Loading corporate intelligence
Loading universe coverage and exchange-backed evidence…