Produces specialty fats and cocoa butter equivalents (CBE) for the global food and cosmetics industry, fractionating natural raw materials such as shea, sal, and mango kernels through solvent fractionation plants. Revenue comes from two product groups: cocoa butter equivalents, which have scaled from 10% to 30% of revenue in two years, and other specialty fats that together with CBE make up 70-75% of the sales mix. Capacity was lifted 30% via debottlenecking at the SF Plant 2 site to 32,500 MT, taking total fractionation capacity to 52,000 MT, with FY27 utilisation targeted at 85-90%. An INR 460 crore capex programme over 2-3 years will add a new solvent fractionation plant, a CBA facility, refinery expansion, and a shea processing unit in Burkina Faso (INR 120 crore) intended to cut raw-material logistics costs by 45-60%. The company operates nine early-stage subsidiaries across Africa and Latin America for raw-material sourcing, and has set up a new trading subsidiary in Chad. Raw materials account for 64.1% of revenue, making agricultural commodity prices the primary cost driver. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Cocoa Butter Equivalents (CBE), Specialty / value-added fats. B2B specialty ingredient maker with agricultural commodity cost base and African raw-material sourcing footprint.
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 771 | 1,367 |
| EBITDA (ex other income) | 186 | 361 |
| margin % | 24.2 | 26.4 |
| Owners' profit | 0 | 0 |
| EPS, as reported (₹) | 18.42 | 37.67 |
| ROE % · ROCE % | 23.9 · 36.3 | 33.0 · 47.6 |
| Debt / equity (x) | 1.05 | 0.52 |
| Cash from operations | (57) | 250 |
| Capex | (32) | (55) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 195 | 209 | 233 | 290 | 323 | 363 | 391 | 404 |
| Profit before tax | 34 | 41 | 52 | 65 | 73 | 96 | 74 | 106 |
| Net profit | 26 | 30 | 40 | 47 | 53 | 72 | 52 | 79 |
| EPS (₹) | 4.32 | 5.11 | 6.72 | 7.87 | 8.91 | 12.10 | 8.79 | 13.17 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| EID PARRY INDIA LTD | 12,861 | 27.7 | 0.86 | 4.4 | 9.3 | 13.1 | 15.7 | 8.7 |
| MANORAMA INDUSTRIES LTD ◆ | 12,300 | 47.9 | 18.03 | 34.0 | 33.0 | 42.4 | — | 30.3 |
| ORKLA INDIA LIMITED | 8,048 | 27.3 | 2.93 | 18.1 | 10.4 | 13.1 | — | 19.9 |
| KRISHIVAL FOODS LIMITED | 963 | 40.6 | 4.82 | 24.9 | 11.1 | 13.1 | — | 13.0 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 4 Sept 2026 · New Independent Director appointed, Rs 75 crore capital infusion into 6 global subsidiaries | management changes | medium | — | — |
| 4 Sept 2026 · Board approves new independent director, Rs 75 Cr in foreign subsidiaries | board shareholder meetings | medium | — | — |
| 28 Aug 2026 · 21st AGM notice dispatched; e-voting from Sept 18 to Sept 20 | compliance | minimal | — | — |
| 27 Aug 2026 · AGM Notice 2025-26: Manorama Industries dispatches letters to shareholders | compliance | minimal | — | — |
| 27 Aug 2026 · Manorama Industries 21st AGM on Sept 21; Rs 0.80 dividend proposed | board shareholder meetings | low | — | — |
| 22 Aug 2026 · Newspaper notice published for 21st AGM on September 21, 2026 | compliance | minimal | — | — |
| 18 Aug 2026 · Manorama Q1 FY27: revenue up 39.5%, PAT jumps 67.6% | investor communications | medium | — | — |
| 14 Aug 2026 · Manorama Industries Q1FY27 results published in newspapers | compliance | minimal | — | — |
| 13 Aug 2026 · Q1FY27 Investor Presentation: Revenue up 39.5% YoY, PAT up 67.6% | investor communications | medium | — | — |
| 13 Aug 2026 · Manorama Industries Q1FY27 Investor Presentation | investor communications | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| APIS INDIA LTD. | 716 | 2.8 | 3.60 | 18.7 | 12.7 | 15.5 | 7.4 | 11.9 |
| Pajson Agro India Limited | 502 | 38.6 | — | — | — | 24.0 | — | — |
| MEGASTAR FOODS LIMITED | 311 | 31.5 | 3.02 | 12.3 | 9.0 | 7.5 | 26.4 | 5.8 |
| Wardwizard Foods and Beverages | 237 | 40.1 | 2.91 | — | 1.6 | 0.6 | — | 13.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 47.9 | 17.9 | 27 of 28 | 4% |
| P/B | 18.0 | 1.8 | 19 of 19 | 0% |
| ROCE | 42.4 | 12.1 | 2 of 31 | 97% |
| ROE | 33.0 | 5.1 | 1 of 23 | 100% |
| Debt / Equity | 0.5 | 0.4 | 16 of 23 | 32% |
| EBITDA margin | 30.3 | 8.7 | 2 of 21 | 95% |
| Revenue growth | 39.5 | 8.6 | 5 of 17 | 75% |
| Profit growth | 67.5 | 32.7 | 7 of 20 | 68% |
| Market cap | 12300 | 118 | 2 of 29 | 96% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
