Manorama Industries Ltd Q3 FY26 Earnings Analysis
Published 8 Jul 2026 | Food Products | Market Cap: ₹10.1K Cr
Price
₹1,741
Market Cap
₹10.1K Cr
P/E Ratio
43.5
How does Manorama Industries Ltd rank in Food Products?
Compare Manorama Industries Ltd against every Food Products company this quarter on revenue, margins and earnings-call signals.
Manorama Industries Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹382 Cr, net profit ₹60 Cr.
Full financials →Earnings Summary
Company expects 40%-45% growth in volume over next 1-2 years due to 30% increase in capacity and 15% available in existing capacity. Manorama Industries expects approximately 40%-45% growth in capacity utilization over the next 1-2 years, translating into strong revenue growth, with a target of more than 30% increase.
📊 Revenue & Sales Performance
- →Company expects 40%-45% growth in volume over next 1-2 years due to 30% increase in capacity and 15% available in existing capacity.
- →Revenue growth is anticipated commensurate or above 30% with new capacity expansion.
- →Existing capacities support growth for next 1-2 years; planned capex will drive growth for 4-5 years.
- →New projects include 75,000 MTPA fractionation capacity and 90,000 MTPA refinery capacity, targeting a 5x or higher asset turnover.
- →Volume growth contributed majorly to 73%-81% Y-o-Y revenue increase recently, with ~65%-90% volume growth depending on periods.
- →Working capital cycle expected to improve with new product lines requiring lower inventory periods.
- →Overall, the company is confident of strong sustainable growth for coming years backed by capacity expansion and product mix enhancement.
📈 Profitability & Margins
- →Manorama Industries expects approximately 40%-45% growth in capacity utilization over the next 1-2 years, translating into strong revenue growth, with a target of more than 30% increase.
- →The company anticipates EBITDA margins to remain sustainable in the range of 25%-27%, supported by improved product mix, higher capacity utilization, and operational efficiencies.
- →The new capex of INR 460 crores, primarily funded through internal accruals, aims to enable 4-5 years of growth, with asset turns expected to exceed 5x, potentially adding around INR 2,000 crores to topline over the next 3 years.
- →Working capital cycle is expected to improve, especially for new forward integration projects, reducing from current ~120 days to around 1-3 months for new products.
- →Forward integration projects and product innovation (e.g., cocoa butter alternatives) are expected to be margin-neutral or accretive, supporting consistent earnings growth.
🏗️ Capital Expenditure Plans
- →Manorama Industries has announced a capex plan of around INR 460 crores, to be deployed over the next 2-3 years.
- →The capex includes:
- → - Addition of 75,000 MTPA solvent fractionation capacity for new products like ESOS and HPMF.
- → - A new 75,000 MTPA capacity for cocoa butter alternative (CBA) including specialty fats.
- → - Expansion of refinery capacity by 90,000 MTPA, linked to the new fractionation capacity.
- → - A backward integration project in Burkina Faso (land acquired) alongside expansion in West Africa.
- →The capex is primarily funded from strong internal accruals, with no immediate plans for external financing.
- →Expected asset turnover is over 5x, with potential top-line addition of around INR 2,000 crores over 3 years.
- →New capacities are expected to be operational in phases from FY'27 to FY'29.
- →The working capital cycle for new products is expected to be shorter (1-3 months) compared to existing business.
💰 Fundraising & Capital Structure
- →As of now, Manorama Industries has no immediate plans for external financing through debt or equity.
- →The company primarily relies on strong internal cash accruals to fund its planned capex projects over the next 2 to 3 years.
- →Options for external financing will be considered selectively if necessary, but currently there are no active plans for raising funds externally.
📋 Order Book & Pipeline
Key Metrics
Frequently Asked Questions
What were Manorama Industries Ltd Q3 FY26 results?
Company expects 40%-45% growth in volume over next 1-2 years due to 30% increase in capacity and 15% available in existing capacity. Manorama Industries expects approximately 40%-45% growth in capacity utilization over the next 1-2 years, translating into strong revenue growth, with a target of more than 30% increase.
What is Manorama Industries Ltd share price analysis?
Manorama Industries Ltd currently shows a neutral. The stock trades at a P/E of 43.5 with a market cap of ₹10,149 Cr. Investors should review the full earnings analysis for detailed insights.
Is Manorama Industries Ltd planning capital expenditure?
Manorama Industries has announced a capex plan of around INR 460 crores, to be deployed over the next 2-3 years.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.