Manorama Industries Limited (MANORAMA)

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Manorama Industries Limited (MANORAMA) · mywealthgrid

About

Manorama Industries Limited operates in Other Food Products within the Consumer Staples sector. With a market cap of ₹10,370.49 Cr and quarterly revenue of ₹289–391 Cr, it is a small-cap company at modest scale. Recent quarters show revenue growth from ₹289.55 Cr (Jun 2025) to ₹391.34 Cr (Mar 2026), with stable 25–28% operating margins.

Face value: ₹2

Market cap

₹11,225 Cr

P/E

43.7×

P/B

16.5×

Dividend yield

ROE

39.4%

ROCE

56%

Debt / equity

0.52

OPM

26.4%

EPS (TTM)

₹43.0

Book value

₹114.3

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

PE ratio of 46.11 reflects high valuation relative to trailing earnings; verify if growth expectations are justified
Quarterly net profit ranges ₹46.94–72.27 Cr despite stable revenue, indicating earnings volatility — verify causes and normalization
Market cap of ₹10,370.49 Cr places company in small-cap segment with potential liquidity and research coverage constraints
Product focus limited to 'Other Food Products' category without visibility into portfolio composition — verify diversification and concentration risk

Generated analysis · source review pending

Growth drivers

Revenue grew 35% from ₹289.55 Cr (Jun 2025) to ₹391.34 Cr (Mar 2026); verify sustainability and growth drivers (volume, pricing, categories)
Operating margins held 25–28% range (26.44% overall) during revenue expansion; verify if cost discipline or scale supports this consistency
D/E of 0.52 and ROE of 39.4% provide financial flexibility and capital efficiency for growth investments — verify capex plans and strategic deployment

Generated analysis · source review pending

1,046 historical price candles were omitted because the exchange source has not been verified.

₹1,880.3+0.9%1Y

Quick read

rule-based

Pros

+Strong return on equity of 26.5% (3-yr avg)
+High return on capital employed of 39.1%
+Healthy operating margin of 26.4%
+Profit CAGR of 72.8% over the last 5 years
+Revenue CAGR of 46.5% over the last 5 years

Cons

−Trading at 16.5× book value
−Low dividend payout of 1.9% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

66/100

Business quality: 81
Growth: 100

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MICROCAP 250 NIFTY TOTAL MARKET

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	203	279	351	457	771	1,367
COGS	—	—	—	—	398	733
Gross profit	—	—	—	—	373	633
	—	—	—	—	187	272
	35	39	56	74	186	361
OPM %	17.1%	14%	16.1%	16.1%	24.2%	26.4%
Depreciation	8	8	11	14	22	26
Interest	10	6	9	20	39	38
	6	8	6	13	21	10
Profit before tax	22	34	43	53	146	308
Tax	—	—	—	—	36	83
Tax %	—	—	—	—	24.8%	27%
	15	24	30	40	110	225
PAT margin %	7.2%	8.7%	8.5%	8.8%	14.2%	16.5%
EPS (₹)	—	—	—	—	18.4	37.7
EPS adjusted (₹)	2.6	4.1	5	6.7	18.4	37.7
	—	—	—	—	3.3%	2.1%
Annual report	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	11	11	12	12	12	12	12
Reserves	119	134	256	286	325	448	670
	119	85	108	110	346	482	356
	43	24	19	16	53	41	162
Total equity & liabilities	293	254	396	424	737	983	1,200
	55	57	55	97	129	175	195
CWIP	—	—	—	—	—	2	18
Investments	—	—	—	—	—	1	1
	—	—	—	—	—	805	985
Total assets	293	254	396	424	737	983	1,200

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	33	-33	59	-154	-57	250
	11	-35	-99	-62	-34	-78
	-45	117	-7	214	93	-165
Net cash flow	-0	49	-47	-1	2	7
Free cash flow	—	—	—	—	-89	196
CFO / Operating profit %	96.6%	-85.7%	105%	-208.8%	-30.5%	69.3%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	48.4%	46.3%
EBITDA margin %	17.1%	14%	16.1%	16.1%	24.2%	26.4%
EBIT margin %	13.2%	11.1%	13%	13.1%	21.3%	24.6%
PAT margin %	7.2%	8.7%	8.5%	8.8%	14.2%	16.5%
Working capital
Receivable days	—	—	—	—	48	17
Inventory days	—	—	—	—	505	362
Payable days	—	—	—	—	13	45
NWC days	—	—	—	—	540	334
Leverage
Current ratio	1.97	2.95	2.82	1.62	1.67	1.97
Debt to EBITDA	2.46	2.79	1.95	4.71	2.59	0.98
Debt to equity	0.59	0.4	0.37	1.03	1.05	0.52
Interest coverage	3.1	6.8	6	3.7	4.7	9.1
Asset turnover	0.8	0.71	0.83	0.62	0.78	1.14
Return ratios
Return on assets %	5.7%	6.1%	7%	5.4%	11.2%	18.8%
Return on capital employed %	20.2%	16.9%	16.4%	20.2%	41%	56%
Return on equity %	10.1%	9%	10%	11.9%	23.9%	33%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	57.26%	57.26%	57.26%	57.26%	57.26%	54.42%	54.42%	54.41%	54.32%	54.32%	54.32%	54.32%
	2.79%	2.81%	2.53%	2.16%	2.37%	2.53%	2.81%	3.41%	2.52%	2.71%	2.89%	3.22%
	3.29%	2.58%	2.55%	1.78%	1.82%	4.7%	5.14%	4.62%	4.44%	3.61%	3%	2.63%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	36.66%	37.35%	37.66%	38.8%	38.55%	38.35%	37.63%	37.56%	38.72%	39.36%	39.79%	39.83%
No. of shareholders	—	—	—	—	—	—	—	—	32,671	34,703	36,335	33,841

Promoter holding down 2.94 percentage points since Sep 2023.

25 deals · 19 Dec 2024 – 14 Aug 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
14 Aug 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	3,54,011	₹1,779.63	₹63.00 Cr
14 Aug 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	3,54,011	₹1,780.85	₹63.04 Cr
24 Dec 2024	VINITA ASHISH SARAF	Bulk	BSE	Sell	13,92,613	₹1,102.10	₹153.48 Cr
24 Dec 2024	VINITA ASHISH SARAF	Block	BSE	Sell	8,18,180	₹1,100.00	₹90.00 Cr
24 Dec 2024	ADITYA BIRLA SUN LIFE MUTUAL FUND	Bulk	BSE	Buy	8,18,180	₹1,100.00	₹90.00 Cr
24 Dec 2024	LIC MUTUAL FUND	Bulk	BSE	Buy	7,27,270	₹1,100.00	₹80.00 Cr
24 Dec 2024	ADITYA BIRLA SUN LIFE MUTUAL FUND	Block	BSE	Buy	5,45,453	₹1,100.00	₹60.00 Cr
24 Dec 2024	LIC MUTUAL FUND	Block	BSE	Buy	2,97,995	₹1,100.00	₹32.78 Cr
24 Dec 2024	RITU SARAF	Block	BSE	Sell	2,97,995	₹1,100.00	₹32.78 Cr
24 Dec 2024	VINITA ASHISH SARAF	Block	BSE	Sell	2,72,733	₹1,100.00	₹30.00 Cr

1–10 of 25

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Mr. ASHISH RAMESH SARAFExecutive Director-Chairperson related to Promoter-MD
Mrs. VINITA ASHISH SARAFExecutive Director
Mr. GAUTAM KUMAR PALExecutive Director
Mr. ASHOK JAINExecutive Director
Mr. SHREY ASHISH SARAFExecutive Director
Mr. JOSE VAILAPPALLIL JOSEPHNon-Executive - Independent Director
Mr. NIPUN SUMANLAL MEHTANon-Executive - Independent Director
Mr. MUDIT KUMAR SINGHNon-Executive - Independent Director
Ms. VENI MOCHERLANon-Executive - Independent Director
Ms. SUBHAPRADA NISHTALANon-Executive - Independent Director
Mr. Deepak SharmaCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 4 fund houses

Held by these funds

of the company's equity

All mutual funds

2.27%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

9 schemes · 4 fund houses

		Shares
MF MULTI CAP FUND	LIC Mutual Fund	2 L	37.82	1.68%	0.335%	-0
MF SMALL CAP FUND	LIC Mutual Fund	1.42 L	26.94	3.24%	0.239%	-0
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	63,265	11.96	0.48%	0.106%	-1,385
Aggressive Hybrid Fund	Baroda BNP Paribas Mutual Fund	63,000	11.91	0.95%	0.106%	-11,829
Multi Asset Fund	Baroda BNP Paribas Mutual Fund	63,000	11.91	0.8%	0.106%	-11,829
MF UNIT LINKED INSURANCE SCHEME	LIC Mutual Fund	40,000	7.56	1.7%	0.067%	-0
MF MID CAP FUND	LIC Mutual Fund	25,752	4.87	1.24%	0.043%	-14,750
IB18-Groww Nifty Total Market Index Fund	Groww Mutual Fund	433	0.08	0.02%	0.001%	+2

1–8 of 9

1 / 2

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

4

Final dividend11 Sept 2026 · ex-date₹0.8
Final dividend21 Aug 2025 · ex-date₹0.6
Final dividend27 Aug 2024 · ex-date₹0.4
Final dividend11 Sept 2023 · ex-date₹2

1

Board meeting to consider results13 Aug 2026

1

Face value ₹10 → ₹27 Mar 2024 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

51 announcementsExport CSV

30 Sept 2026, 4:57 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

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Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	48.4%	46.3%
EBITDA margin %	17.1%	14%	16.1%	16.1%	24.2%	26.4%
EBIT margin %	13.2%	11.1%	13%	13.1%	21.3%	24.6%
PAT margin %	7.2%	8.7%	8.5%	8.8%	14.2%	16.5%
Working capital
Receivable days	—	—	—	—	48	17
Inventory days	—	—	—	—	505	362
Payable days	—	—	—	—	13	45
NWC days	—	—	—	—	540	334
Leverage
Current ratio	1.97	2.95	2.82	1.62	1.67	1.97
Debt to EBITDA	2.46	2.79	1.95	4.71	2.59	0.98
Debt to equity	0.59	0.4	0.37	1.03	1.05	0.52
Interest coverage	3.1	6.8	6	3.7	4.7	9.1
Asset turnover	0.8	0.71	0.83	0.62	0.78	1.14
Return ratios
Return on assets %	5.7%	6.1%	7%	5.4%	11.2%	18.8%
Return on capital employed %	20.2%	16.9%	16.4%	20.2%	41%	56%
Return on equity %	10.1%	9%	10%	11.9%	23.9%	33%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Eid Parry India LimitedEIDPARRYEIDPARRY	₹12,007 Cr	₹14,861 Cr	₹38,840 Cr	₹3,395 Cr	9%	₹465 Cr	3.6%	20.2%	6.8%	75
Manorama Industries LimitedMANORAMAMANORAMA	₹11,225 Cr	₹11,581 Cr	₹1,481 Cr	₹396 Cr	26.4%	₹257 Cr	16.5%	56%	39.4%	334
Orkla India LimitedORKLAINDIAORKLAINDIA	₹7,360 Cr	₹7,360 Cr	₹2,571 Cr	₹420 Cr	16.7%	₹294 Cr	11.4%	14.6%	11%	37
Krishival Foods LimitedKRISHIVALKRISHIVAL	₹1,010 Cr	₹1,046 Cr	₹332 Cr	₹32 Cr	9.3%	₹22 Cr	7.6%	17%	13.1%	94
Hexagon Nutrition LimitedHEXAGONHEXAGON	₹846 Cr	₹876 Cr	₹383 Cr	₹53 Cr	13.8%	₹38 Cr	9.9%	22.2%	16.3%	179
Apis India LtdAPISAPIS	₹701 Cr	₹763 Cr	₹391 Cr	₹36 Cr	9.2%	₹7 Cr	6.5%	18.9%	13.6%	207
Pajson Agro India LtdPAJSONPAJSON	₹509 Cr	—	₹256 Cr	₹37 Cr	14.3%	₹25 Cr	9.7%	—	—	—
Megastar Foods LimitedMEGASTARMEGASTAR	₹302 Cr	₹433 Cr	₹558 Cr	₹36 Cr	6.6%	₹10 Cr	1.8%	16.4%	9.5%	70
Nutricircle LtdNUTRICIRCLENUTRICIRCLE	₹300 Cr	₹301 Cr	₹3 Cr	₹1 Cr	1.6%	₹0 Cr	1.7%	4.2%	4.7%	18
Chemkart India LtdCHEMKARTCHEMKART	₹292 Cr	—	₹213 Cr	₹29 Cr	13.6%	₹21 Cr	9.8%	—	—	—
Wardwizard Foods and Beverages LtdWARDWIZFBLWARDWIZFBL	₹213 Cr	₹250 Cr	₹93 Cr	₹-6 Cr	3.3%	₹-14 Cr	0.6%	4.3%	1.6%	4
Adon Agro Commodities LtdADONADON	₹207 Cr	—	₹324 Cr	₹34 Cr	10.6%	₹23 Cr	7.2%	—	—	—

Date	Category	Subject	Filing
30 Sept 2026, 4:57 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
22 Sept 2026, 9:10 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
22 Sept 2026, 2:38 pm	Others Outcome without intimation	Board Meeting Outcome for Outcome Of The Board Meeting Of The Company Held On Tuesday, September 22, 2026.	PDF
21 Sept 2026, 6:06 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
19 Sept 2026, 3:04 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
18 Sept 2026, 3:51 pm	AGM/EGM Postal Ballot	Shareholder Meeting / Postal Ballot-Notice of Postal Ballot	PDF
4 Sept 2026, 8:25 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
4 Sept 2026, 8:22 pm	Others Outcome without intimation	Board Meeting Outcome for Outcome Of Board Meeting Held On September 04, 2026.	PDF

Manorama Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

4

1

1

Announcements

Not in the F&O segment

4

1

1

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

Manorama Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Dividends4

Board meetings1

Stock splits1

Announcements

Ratio timeline

Not in the F&O segment

Dividends4

Board meetings1

Stock splits1

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

4

1

1

4

1

1