Manorama Industries Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹11,339 Cr
- P/E
- 42.93
- ROE
- 40.25%
- PEG
- 0.42
- Price to sales
- 7.71
- Debt to equity
- 0.51
- 52W high / low
- ₹2,133 / ₹1,076
- Sales growth (5Y)
- 46.29%
- EBITDA margin
- 27.03%
- Net profit margin
- 17.15%
- Promoter holding
- 51.38%
- Sales (last year)
- ₹1,472 Cr
Manorama Industries is engaged in manufacturing specialty fats and butter made from exotic seeds and nuts. [1]
Guidance scorecard · Q1 FY27 call
What Manorama Industries Ltd's management guided
and where it ranks in Food Products
Food Products
RevenueQ1 FY27 call
20–40%- The company began FY27 on a very healthy note, with Q1 performance establishing a strong run rate for the year.
- Expectation of healthy top-line growth in FY27 supported by capacity ramp-up and debottlenecking.
- Focus on improving utilization of plants, targeting around 80%-85% utilization post-debottlenecking.
- New capex plans include expanding solvent fractionation and refinery capacity, along with backward integration in Burkina Faso, expected to support growth into FY28 and beyond.
- Additional incremental capacity of approximately 4,500 tons from debottlenecking expected to come online in FY27 Q3, increasing total capacity to around 52,000 tons per annum.
2 more points from Manorama Industries Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Manorama Industries Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Manorama Industries has a proposed capex plan of approximately INR 460 crores, expected to be commissioned by Q3 FY28, with full impact visible in FY29.
- Capex includes expanding solvent fractionation capacity, refinery capacity in India, and backward integration project in Burkina Faso.
- Burkina Faso facility capex is around INR 120-130 crores; the balance is for Indian projects.
- Debottlenecking capacity expansion of 4,500 MTPA during FY27 costing around INR 5-6 crores.
- Total capex spending planned for FY27 is around INR 225-250 crores, with about INR 70 crores already spent.
2 more points from Manorama Industries Ltd's call on capex
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FundraisingQ1 FY27 call
PlannedSee what Manorama Industries Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Ask what Manorama Industries Ltd said on the order book →
Full Q1 FY27 analysisRanges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Food Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Food Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹459 Cr | 7.9 | |
| 2 | 40%+ | Up 2%+ | ₹454 Cr | 79.8 | |
| 3 | 40%+ | Flat | ₹1,061 Cr | 48.2 | |
| 4 | 40%+ | Flat | ₹157 Cr | 10.5 | |
| 5 | 20–40% | Up 2%+ | ₹671 Cr | 48.3 | |
| 6 | 20–40% | Up 2%+ | ₹265 Cr | 7.8 |
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Pro shows every company guiding 40%+ revenue growth →Full Food Products rankingFinancials of Manorama Industries Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Manorama Industries Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 102 | 112 | 118 | 98 | 129 | 133 | 195 | 209 | 233 | 290 | 323 | 363 | 382 |
| Expenses + | 85 | 93 | 99 | 83 | 109 | 107 | 150 | 154 | 169 | 211 | 236 | 264 | 279 |
| Operating Profit | 16 | 19 | 18 | 16 | 21 | 27 | 45 | 55 | 64 | 79 | 88 | 98 | 103 |
| OPM % | 16% | 17% | 16% | 16% | 16% | 20% | 23% | 26% | 27% | 27% | 27% | 27% | 27% |
| Other Income + | 3 | 3 | 2 | 4 | 4 | 4 | 3 | 2 | 9 | 5 | 1 | 11 | -5 |
| Interest | 2 | 2 | 5 | 6 | 7 | 8 | 8 | 11 | 12 | 9 | 8 | 11 | 9 |
| Depreciation | 3 | 3 | 3 | 4 | 4 | 4 | 6 | 6 | 6 | 6 | 6 | 6 | 7 |
| Profit before tax | 14 | 16 | 12 | 11 | 14 | 18 | 35 | 40 | 55 | 69 | 74 | 92 | 81 |
| Tax % | 29% | 30% | 30% | 30% | 10% | 26% | 24% | 27% | 23% | 27% | 26% | 25% | 26% |
| Net Profit + | 10 | 12 | 9 | 7 | 12 | 14 | 27 | 30 | 42 | 51 | 55 | 68 | 60 |
| EPS in Rs | 1.68 | 1.94 | 1.44 | 1.25 | 2.10 | 2.27 | 4.48 | 4.95 | 7.09 | 8.48 | 9.19 | 11.43 | 9.97 |
Financials of Manorama Industries Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 133 | 131 | 145 | 210 | 102 | 188 | 203 | 279 | 351 | 457 | 771 | 1,358 |
| Expenses + | 129 | 127 | 143 | 193 | 73 | 144 | 168 | 240 | 294 | 384 | 580 | 990 |
| Operating Profit | 4 | 4 | 3 | 17 | 29 | 44 | 35 | 39 | 56 | 74 | 191 | 368 |
| OPM % | 3% | 3% | 2% | 8% | 28% | 23% | 17% | 14% | 16% | 16% | 25% | 27% |
| Other Income + | 1 | 1 | 1 | 2 | 3 | 6 | 6 | 8 | 6 | 13 | 19 | 11 |
| Interest | 3 | 2 | 1 | 2 | 5 | 10 | 10 | 6 | 9 | 20 | 39 | 38 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 8 | 8 | 8 | 11 | 14 | 22 | 26 |
| Profit before tax | 2 | 2 | 2 | 16 | 27 | 32 | 22 | 34 | 43 | 53 | 148 | 316 |
| Tax % | 34% | 36% | 33% | 38% | 28% | 28% | 35% | 28% | 31% | 25% | 24% | 26% |
| Net Profit + | 1 | 1 | 1 | 10 | 19 | 23 | 15 | 24 | 30 | 40 | 112 | 233 |
| EPS in Rs | 1.23 | 1.08 | 1.28 | 2.63 | 3.43 | 4.20 | 2.62 | 4.05 | 5.00 | 6.73 | 18.80 | 39.06 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 8% | 6% | 3% | 2% |
Financials of Manorama Industries Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 8 | 11 | 11 | 11 | 12 | 12 | 12 | 12 | 12 |
| Reserves | 8 | 11 | 12 | 17 | 93 | 116 | 134 | 256 | 286 | 325 | 450 | 683 |
| Borrowings + | 4 | 5 | 0 | 18 | 24 | 119 | 85 | 108 | 110 | 346 | 482 | 355 |
| Other Liabilities + | 3 | 3 | 8 | 3 | 5 | 42 | 24 | 19 | 16 | 53 | 41 | 150 |
| Total Liabilities | 17 | 21 | 23 | 45 | 133 | 289 | 254 | 396 | 424 | 737 | 985 | 1,200 |
| Fixed Assets + | 3 | 3 | 3 | 3 | 6 | 51 | 57 | 55 | 97 | 129 | 176 | 195 |
| CWIP | 0 | 0 | 0 | 1 | 16 | 0 | 0 | 42 | 50 | 42 | 5 | 18 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10 |
| Other Assets + | 14 | 18 | 20 | 41 | 112 | 237 | 197 | 299 | 278 | 565 | 804 | 977 |
| Total Assets | 17 | 21 | 23 | 45 | 133 | 289 | 254 | 396 | 424 | 737 | 985 | 1,200 |
Financials of Manorama Industries Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 2 | -11 | -11 | -60 | 33 | -33 | 59 | -154 | -59 | 259 | ||
| Cash from Investing Activity + | 2 | -1 | -50 | -10 | 11 | -35 | -99 | -62 | -34 | -87 | ||
| Cash from Financing Activity + | -1 | 16 | 62 | 85 | -45 | 117 | -7 | 214 | 93 | -165 | ||
| Net Cash Flow | 3 | 3 | 2 | 15 | -0 | 49 | -47 | -1 | 0 | 7 | ||
| Free Cash Flow | 1 | -14 | -32 | -91 | 29 | -93 | 8 | -193 | -90 | 206 | ||
| CFO/OP | 72% | -47% | -16% | -126% | 121% | -56% | 126% | -188% | -15% | 93% |
Financials of Manorama Industries Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 3 | 1 | 3 | 3 | 50 | 32 | 40 | 33 | 29 | 33 | 48 | 15 |
| Inventory Days | 10 | 18 | 6 | 37 | 273 | 669 | 391 | 535 | 272 | 586 | 516 | 349 |
| Days Payable | 5 | 5 | 21 | 0 | 11 | 147 | 24 | 24 | 7 | 60 | 13 | 39 |
| Cash Conversion Cycle | 8 | 14 | -13 | 40 | 312 | 553 | 408 | 544 | 294 | 559 | 551 | 325 |
| Working Capital Days | 0 | -0 | -11 | 2 | 94 | 56 | 128 | 172 | 119 | 100 | 105 | 100 |
| ROCE % | 27% | 24% | 17% | 62% | 37% | 22% | 14% | 13% | 13% | 13% | 23% | 35% |
Guidance history
How Manorama Industries Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Flat | Planned | Planned | — |
| Q4 FY26 call → | 20–40% | Flat | Planned | Planned | — |
| Q3 FY26 call → | 40%+ | Flat | Planned | None planned | — |
| Q2 FY26 call → | 20–40% | Flat | Planned | Planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
78 out of 100 — Strengthening
Over the past year its share price has done better than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +28.4% | 79% |
| Last 6 months | +19.0% | 75% |
| Last 3 months | +11.9% | 83% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Manorama Industries Ltd: 0.4 × 79 + 0.4 × 75 + 0.2 × 83 = 78.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Manorama Industries Ltd's management said in earlier quarters
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