Manorama Industries Limited has reported exceptional financial results for the fiscal year 2026. The company achieved a 76.1% year-on-year revenue growth, reaching INR 1,358 crores. This strong performance was driven by increased operational efficiency, volume growth, and a focus on high-value product segments. Despite geopolitical headwinds, the firm remains confident in its long-term growth strategy, supported by strategic capacity expansions in India and the Burkina Faso backward integration project.
Financial and Operational Highlights
For the full financial year 2025-26, Manorama Industries demonstrated significant growth. Stand-alone revenue surged by 76.1% to INR 1,357 crores. Profit after tax (PAT) stood at INR 233.2 crores, reflecting a margin of 17.2%. The company also maintained a healthy EBITDA margin of 27.1%, totaling INR 367.7 crores, supported by disciplined cost management and an optimized product mix.
Strategic Capacity Expansion
The company is actively executing a INR 460 crore capital expenditure program over the next two to three years. Key initiatives include debottlenecking solvent fractionation plants to increase output and setting up a new facility for cocoa butter alternatives. Additionally, the company is investing in a backward integration project in Burkina Faso, valued at approximately INR 120 crores. This initiative is expected to reduce logistics costs, improve yield efficiency, and secure a reliable supply of raw materials.
Market Outlook and Future Growth
Management highlighted that volume growth for FY26 was in the range of 80%-90%, complemented by a 5%-10% price growth. The shift toward higher value-added products, such as CBE (Cocoa Butter Equivalents), which now accounts for approximately 30% of top-line revenue, is a major pillar for future profitability. Looking ahead to FY27 and beyond, the company expects sustained volume-led growth and continues to target a long-term margin range of 25% to 27%.
Risk Management
Despite global geopolitical tensions and market volatility, the company maintains a prudent risk management framework. Approximately 60% of net foreign exchange exposure is hedged, providing stability against currency fluctuations. The management remains largely insulated from direct impacts of ongoing global conflicts, focusing instead on long-term scalability and cementing its position as a global leader in specialty fats and exotic butters.
Source: BSE
