Manorama Industries Limited announced the outcome of its Board Meeting held on November 12, 2026. The Board considered and approved the unaudited financial results for the quarter and half year ended September 30, 2026, along with the Limited Review Report. Key leadership changes were also approved, including the resignation of Ashish Ramesh Saraf as Chairman & Managing Director and Vinita Ashish Saraf as Vice-Chairperson & Whole-time Director, with subsequent redesignations and appointments.
Board Meeting Outcome
Manorama Industries Limited convened its Board Meeting on Thursday, November 12, 2026, commencing at 06:00 P.M. IST and concluding at 07:28 P.M. IST. During the meeting, the Board inter alia considered and approved several significant matters.
Financial Results and Review
The Board took on record the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026, in accordance with SEBI Listing Regulations. Additionally, the Limited Review Report issued by M/s. Singhi & Co., Chartered Accountants, the Statutory Auditors, on these financial results was also taken on record.
Monitoring Agency Report
A Monitoring Agency Report issued by CRISIL Ratings Limited concerning the utilization of proceeds raised through Qualified Institutions Placement (QIP) for the quarter ended September 30, 2026, was also noted by the Board.
Leadership Transitions and Appointments
The Board noted the cessation of Mr. Ashish Ramesh Saraf from the office of Chairman & Managing Director. Following his resignation and in the interest of management continuity, the Board approved his redesignation as President – Strategic Planning and Business Development, effective November 12, 2026.
Similarly, the cessation of Mrs. Vinita Ashish Saraf from the office of Vice-Chairperson & Whole-time Director was noted. The Board approved her redesignation as President – Business Excellence & Development, effective November 12, 2026.
Further, the Board approved the appointment of Mr. Deep Saraf as an Additional Director in the category of Executive Director (Whole-Time Director) for a term of 5 years, effective November 12, 2026, to November 11, 2031, subject to member approval. Mr. Deep Saraf was also appointed as Managing Director for a period of 5 years from November 12, 2026, to November 11, 2031, subject to member approval.
The appointment of Mr. Mudit Kumar Singh as an Additional Director in the category of Executive Director (Whole-Time Director) for a term of 5 years, effective November 12, 2026, to November 11, 2031, was approved, subject to member approval. Mr. Mudit Kumar Singh was also elected as the Chairman of the Board of Directors, effective November 12, 2026.
Postal Ballot and Scrutinizers
The Postal Ballot Notice for seeking member approval on the appointments of Mr. Deep Saraf as Director and Managing Director, and Mr. Mudit Kumar Singh as Chairman and Director, was approved. The cut-off date for determining eligibility for remote e-voting was set as Friday, November 20, 2026. M/s Mehta & Mehta, Company Secretaries, were appointed as Scrutinizers for the remote e-voting process.
Key Managerial Personnel (KMP)
The Board also approved the details of the Key Managerial Personnel (KMP) of the Company for the purpose of determining materiality of an event or information and for making disclosures to the Stock Exchanges.
Financial Highlights
The standalone financial results for the quarter and half year ended September 30, 2026, showed Total Income from Operations of ₹47,130.47 lacs and ₹89,129.04 lacs respectively. The net profit after tax stood at ₹8,781.90 lacs for the quarter and ₹16,940.49 lacs for the half-year.
Consolidated results for the same period reported Total Income from Operations of ₹46,854.86 lacs and ₹88,873.52 lacs. The net profit after tax was ₹8,080.89 lacs for the quarter and ₹15,946.70 lacs for the half-year.
The company’s assets as of September 30, 2026, stood at ₹1,97,730.69 lacs on a standalone basis and ₹1,97,645.35 lacs on a consolidated basis.
Source: BSE
