Manorama Industries (541974) Q1 24/25 earnings summary

Executive summary

• Revenue grew 19.6% year-over-year to INR 1,334 million in Q1 FY25, driven by strong demand for sustainable CBE and specialty fats and butters from global and domestic clients.

• EBITDA rose 43.6% YoY to INR 268 million, with margin expanding 335 bps to 20.1% due to operating leverage.

• PAT increased 17.2% YoY to INR 135.4 million, with a PAT margin of 10.2%.

• Commercial operations began at a new fractionation facility in July 2024, raising total capacity to 40,000 tonnes per annum.

• Standalone unaudited results for the quarter ended 30 June 2024 were reviewed and approved by the Board and auditors.

Financial highlights

• Revenue: INR 1,334.1 million in Q1 FY25, up 19.6% YoY and 3.2% sequentially.

• Gross profit: INR 559.2 million, up 34.1% YoY; gross margin expanded 455 bps YoY to 41.9%.

• EBITDA: INR 267.7 million, up 43.6% YoY; EBITDA margin at 20.1%.

• PAT: INR 135.4 million, up 17.2% YoY; diluted EPS at INR 2.27, up 17.1% YoY.

• Finance cost increased 256.9% YoY to INR 85 million.

Outlook and guidance

• FY25 revenue guidance upgraded to INR 750+ Crores, with expectations of increased profitability from expanded capacity and economies of scale.

• Results prepared in accordance with Ind AS and reviewed by the Audit Committee and Board.