Manorama Industries Limited has informed the Exchange about Transcript
MANORAMA · price
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Manorama Industries reported FY25 revenue of INR 771 crores, up 69% YoY, with EBITDA margin expanding 870 bps to 24.8% and PAT nearly doubling to INR 112 crores. Growth was driven by strong export demand (73% of revenue) and commercialization of a new 25,000 ton fractionation facility, taking total capacity to 40,000 tons. Combined capacity utilization in FY25 was ~62.5%, with the new plant running at 40–50% utilization. Management guided for FY26 revenue of INR 1,050 crores (35–36% growth), with capacity utilization rising to 75–85% and revenue mix expected to be 25–30% volume-led and 5–10% price-led. CBE share of sales rose from 10% to 30%, becoming the key margin driver. Net debt stood at INR 380 crores with working capital days reduced from 180 to 150, and CARE rating was upgraded to A.
Strong execution and clear revenue growth visibility, with the new fractionation plant's ramp-up being the key swing factor for both revenue and margins. However, management's reluctance to give specific margin or capex guidance may temper near-term investor conviction; debt reduction and capacity utilization progress will be the key triggers to watch.