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Revenue
₹391 Cr
verified against source
Revenue YoY
76.1%
reported change
EBITDA
₹367.7 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Manorama Industries delivered an exceptional FY26 with standalone revenue surging 76.1% YoY to INR 1,357 crore, driven by volume growth and improved product mix. EBITDA margin expanded to 27.1% (PAT margin 17.2%), reflecting operational leverage and higher value-added sales (CBE now 30% of revenue vs 10% two years ago). Operating cash flow was robust at INR 259 crore, and working capital improved to 125 days. Management guided for continued strong growth in FY27, targeting 20-30% volume growth plus 5-10% price realization, with EBITDA margins sustaining in the 25-27% range. A INR 460 crore capex over 2-3 years (including a Burkina Faso backward integration plant and new fractionation/refinery capacity) supports the long-term INR 3,500 crore revenue vision by FY30. Key risk: consolidated margins were impacted by startup losses at new international subsidiaries, which management expects to normalize.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects 20-30% volume growth plus 5-10% price realization, supported by debottlenecking and product mix improvement.
- Management reiterated sustainable EBITDA margin range of 25-27% on a yearly basis, despite near-term headwinds.
- Includes new solvent fractionation plant (75,000 tons), CBA plant, refinery (90,000 tons), and Burkina Faso processing unit.
- Management confirmed confidence in achieving INR 3,500 crore revenue by FY30, backed by capacity expansions and backward integration.
Risks flagged
- Consolidated EBITDA margin was 26% vs standalone 27.1% due to initial setup costs at nine new subsidiaries; losses may persist if ramp-up is slower than expected.
- Ongoing tensions (Iran, Russia-Ukraine) could raise energy/freight costs and cause forex losses; company hedges ~60% of exposure but MTM loss of INR 23.3 crore booked in FY26.
- Political instability in West Africa could delay the INR 120 crore backward integration plant; management claims government backing but risks remain.
- 20-25% of raw material sourced from Manorama Africa (promoter entity); any disruption or pricing changes could impact margins.
Key quotes
- Our target is to make every human on this earth somewhere our customer.
- The company has done a very remarkable improvement on improving the product mix for our speciality fats and butters.
- We are very confident on whatever plans we have going forward in terms of our capex outline.
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