Manorama Industries has revised its revenue guidance upwards for FY26, from ₹1,150 crores to ₹1,300 crores, reflecting confidence in its growth trajectory and business model strength. Q3 revenues reached ₹363 crores, marking a 73.3% year-on-year increase. The company is expanding capacity with a planned capital expenditure of ₹460 crores over the next 2-3 years, enhancing capabilities in both India and West Africa.
Financial Performance Highlights
Manorama Industries reported strong financial results, with revenues for 9M FY25-26 reaching ₹975 crores, a substantial 81.3% year-on-year growth. EBITDA stood at ₹265 crores with a margin of 27.2%, while profit after tax was ₹174 crores, translating to a margin of 17.8%. For Q3 FY26, revenue reached ₹363 crores, with EBITDA at ₹98 crores and a profit after tax of ₹68 crores. The company has revised upwards its revenue guidance for financial year ’26 from ₹1,150 crores to ₹1,300 crores.
Capacity Expansion and Investments
Manorama Industries is set to increase its existing capacity by 30%, bringing it to 52,000 metric tons of fractionation per annum. The company has acquired 19.40 acres of new land adjacent to its existing facility and commissioned a new packing plant. A capital expenditure of ₹460 crores is planned over the next 2 to 3 years for various projects, including:
- Forward integration through setting up a manufacturing facility for cocoa butter alternatives with 75,000 metric tons per annum capacity.
- Setting up a new fractionation manufacturing facility for shea, palm, mango, and other exotic seeds with 75,000 metric tons per annum capacity.
- Setting up a new refinery manufacturing facility with 90,000 metric tons per annum capacity.
- Backward integration to processing factory in Burkina Faso, West Africa, with 90,000 metric tons per annum capacity.
Operational Performance and Future Outlook
The company’s capacity utilization for the 40,000 metric tons plant is around 85% combined. A throughput increase of approximately 30% is anticipated through debottlenecking, expected to drive growth over the next 2 years. Value-added portion to sales is around 75%. The company expects asset turnover to be more than 5x with its investments. Working capital cycle is currently at 120 days.
Source: BSE
