Change in Management regarding Re-appointment of Internal and Cost Auditors of the Company
MANORAMA · price
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Manorama Industries board approved annual audited results for FY2026 showing strong performance. Standalone revenue grew to Rs. 13,577 Crore from Rs. 7,708 Crore, while net profit more than doubled to Rs. 2,332 Crore from Rs. 1,120 Crore. EPS stood at Rs. 39.06 versus Rs. 18.80 last year. The board recommended a final dividend of Rs. 0.80 per share (40% of face value). Internal auditors CLA Indus Value Consulting and cost auditors M/s. S N & Co. were reappointed for FY2026-27. Most significantly, the board approved financial support up to Rs. 350 Crore for setting up a processing factory in Burkina Faso through wholly-owned subsidiary Taang Kaam Industries SA, including equity investment (Rs. 150 Crore), unsecured loans (Rs. 100 Crore), and guarantees (Rs. 100 Crore).
Strong financial performance with profit doubling is positive for shareholders. The Rs. 0.80 dividend provides direct returns. However, the Rs. 350 Crore commitment to the Burkina Faso subsidiary represents a significant cash outflow that investors should monitor closely.