Manorama Industries (541974) Investor presentation summary

Financial performance and growth

• Achieved FY26 revenue of INR 1,358 crores, up 76.1% YoY, with EBITDA rising 92.5% and PAT up 108.1%.

• EBITDA margin expanded to 27.1% and PAT margin to 17.2% in FY26, reflecting strong operational leverage.

• Net cash flow from operations reached INR 259 crores; working capital cycle improved to 125 days.

• Board declared a final dividend of INR 0.80 per share for FY26.

• Return on equity surged to 40.3% and return on capital employed to 33.6% in FY26.

Capacity expansion and capital efficiency

• Increased SF2 plant capacity by 30% to 32,500 TPA; similar upgrades planned for SF1.

• Strategic capex of INR 460 crores planned over 2-3 years for integration, new facilities, and global expansion.

• Fractionation capacity grew to 47,500 TPA in FY26, supporting product diversification.

• Annual cash profit exceeded gross block, indicating high capital efficiency.

Business model and supply chain

• Operates a waste-to-wealth model sourcing exotic seeds from India and Africa, converting them into specialty fats and butters.

• Integrated value chain with end-to-end processing and strong tribal community engagement for raw material procurement.

• Largest exporter of Sal Fat in India by value and volume in FY25.

• Holds prestigious certifications (FSSC 22000, RSPO, USDA Organic, etc.) and serves marquee global clients.