Manorama Industries Limited
₹1,795.00-₹36.25 (-2.0%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹7,889 Cr
- P/E
- 44.5x
- EV / EBITDA
- 93.4x
- Revenue
- ₹771 Cr
- Net margin
- 8.8%
- ROCE
- 10.8%
Price chart
Technical chartScreen technicals →+28.1% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -3.1%
- 3M
- +9.9%
- 6M
- +19.2%
- 1Y
- +28.1%
- 5Y
- +484.0%
52-week range
Day change -₹36.25 (-2.0%) from ₹1,831 to ₹1,795 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in MANORAMA, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Strong 5-year revenue CAGR of 19.4%
Concerns1
- Negative free cash flow (₹93 Cr)
Rule-based from financial data. Not advice.
About the company
Manorama Industries Limited manufactures, processes, and supplies specialty fats and butters from tree-borne, and plant-based seeds worldwide. The company offers shea butter and fat, sal butter, sal fat, shea oil, sal oil, sal stearine, shea stearine, mango butter and fat, mango oil, mango stearine, kokum butter and oil, mowrah fat, and de-oiled cakes, as well as cocoa, mowrah, and phulwara butter.
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Manorama Industries Limited manufactures, processes, and supplies specialty fats and butters from tree-borne, and plant-based seeds worldwide. The company offers shea butter and fat, sal butter, sal fat, shea oil, sal oil, sal stearine, shea stearine, mango butter and fat, mango oil, mango stearine, kokum butter and oil, mowrah fat, and de-oiled cakes, as well as cocoa, mowrah, and phulwara butter. It also provides organic castor, neem, karanja, moringa, and rice bran oil; and organic glycerine. In addition, the company trades in rice, wheat, sugar, raw cotton, cotton linter, maize/corn, soy meal, cotton seed meal, rice bran meal, sesame, sorghum yellow and white jawar, safflower, niger seeds, cassia tora, medicinal herbs, etc. Further, it offers value-added tailor made products to form the ingredients of cocoa butter equivalents. Its products are used in bakery, plant based food, chocolate and confectionery, technical products, culinary and savory, and animal nutrition industries. The company was incorporated in 2005 and is based in Raipur, India.
- Sector
- Consumer Staples
- Shares outstanding
- 6.0 Cr shares
- ISIN
- INE00VM01036
- BSE code
- 541974
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹7,889 Cr
- P/E
- 44.5x
- P/B
- 13.8x
- EV / EBITDA
- 93.4x
- EV / Sales
- 17.8x
- P/S
- 17.3x
- Earnings yield
- 2.2%
- 52-week high
- ₹2,131.00
- 52-week low
- ₹1,072.65
Profitability
- Operating margin
- 16.2%
- Net margin
- 8.8%
- EBITDA margin
- 19.0%
- ROE
- 11.9%
- ROCE
- 10.8%
- ROA
- 5.4%
- Dividend payout
- 6.0%
- Tax rate
- 25.0%
- Other income, % of PBT
- 24.5%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹771 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 68.7%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 19.4%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹87.0 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 40.3%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 180.0%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 11.7%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹154 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -361.0%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹0 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 73.8%
Solvency and efficiency
- Current ratio
- 10.66
- Debt / Equity
- 1.03
- Debt / Assets
- 0.47
- Debt / EBITDA
- 3.98
- Interest coverage
- 3.70
- Financial leverage
- 2.19
- CFO / Net profit
- -3.85
- Cash / Market cap
- 7.2%
- Cash per share
- ₹94.75
- Asset turnover
- 0.62
- Fixed asset turnover
- 3.54
- Capital intensity
- 0.28
- Debtor days
- 33 days
- Inventory turnover
- 0.62
- Cash conversion cycle
- 559 days
Where the revenue went
Some FY2025 lines are not reported, so the ones that are appear as a table.
| Line | FY2025 |
|---|---|
| Sales | ₹771 Cr |
| Expenses | ₹580 Cr |
| Operating profit | ₹191 Cr |
| Other income | ₹19 Cr |
| Interest | ₹39 Cr |
| Depreciation | ₹22 Cr |
| Profit before tax | ₹148 Cr |
| Tax and other | ₹36 Cr |
| Net profit | ₹112 Cr |
Revenue and net profit
Revenue grew 68.7% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹203 Cr | ₹15 Cr |
| FY2022 | ₹279 Cr | ₹24 Cr |
| FY2023 | ₹351 Cr | ₹30 Cr |
| FY2024 | ₹457 Cr | ₹40 Cr |
| FY2025 | ₹771 Cr | ₹112 Cr |
Cash flows
FY2025: -₹59.0 Cr from operations, -₹93.0 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹33 Cr | ₹44 Cr |
| FY2022 | -₹33 Cr | -₹68 Cr |
| FY2023 | ₹59 Cr | -₹40 Cr |
| FY2024 | -₹154 Cr | -₹216 Cr |
| FY2025 | -₹59 Cr | -₹93 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹771 Cr+68.7%1Y
- Net profit
- ₹112 Cr+180.0%1Y
- Cash from operations
- -₹59 Cr
- Free cash flow
- -₹93 Cr
- Revenue CAGR, 5Y
- 19.4%
- EBITDA CAGR, 5Y
- 11.7%
- Net profit CAGR, 5Y
- 11.7%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹771 Cr | ₹191 Cr | — | ₹112 Cr | -₹59 Cr | -₹93 Cr | 24.2% | +68.7% | +180.0% |
Monthly returns
Month-by-month returns of MANORAMA across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹985 Cr |
| Equity capital | ₹12 Cr |
| Reserves | ₹450 Cr |
| Borrowings | ₹482 Cr |
| Other liabilities | ₹41 Cr |
| Assets | ₹985 Cr |
| Fixed assets | ₹176 Cr |
| Capital work in progress | ₹5 Cr |
| Investments | ₹0 Cr |
| Other assets | ₹804 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
MANORAMA trades at 44.5x earnings against a peer median of 44.5x.
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| Manorama Industries LimitedMANORAMAthis company | ₹7,889 Cr | 44.5x | 13.8x | 11.9% | 93.4x |
| Godrej Agrovet LimitedGODREJAGRO | ₹10,751 Cr | 18.5x | 4.0x | 15.8% | 17.0x |
| Tilaknagar Industries LtdTI | ₹10,605 Cr | 38.8x | 4.4x | 22.0% | 52.5x |
| Balrampur Chini Mills Ltd.BALRAMCHIN | ₹8,571 Cr | 23.0x | 2.3x | 13.2% | 11.6x |
| KRBL Ltd.KRBL | ₹8,295 Cr | 13.6x | 1.5x | 12.3% | 8.7x |
| Triveni Engineering & Industries LtdTRIVENI | ₹7,500 Cr | 28.4x | 2.4x | 13.6% | 12.2x |
| Dodla Dairy LimitedDODLA | ₹7,355 Cr | 29.5x | 5.3x | 14.9% | 26.7x |
| Gujarat Ambuja Exports Ltd.GAEL | ₹6,332 Cr | 30.4x | 2.0x | 12.5% | 10.7x |
| Piccadily Agro Industries ltd.PICCADIL | ₹5,708 Cr | 51.5x | 7.1x | 32.8% | 31.8x |
| Peer median | — | 44.5x | 7.0x | 14.2% | 25.9x |
Year-to-date ROI
MANORAMA since 1 January, against earlier years.
Historical volatility
MANORAMA's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 17.0% |
| FY2022 | 14.0% |
| FY2023 | 16.0% |
| FY2024 | 16.0% |
| FY2025 | 25.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹771 Cr |
| Costs | |
| Interest | ₹39 Cr |
| Expenses | ₹580 Cr |
| Operating profitOperating Profit | ₹191 Cr |
| Other income and charges | |
| Profit before tax | ₹148 Cr |
| Tax | |
| Net profitNet Profit | ₹112 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹985 Cr |
| Equity capitalEquity Capital | ₹12 Cr |
| Reserves | ₹450 Cr |
| Borrowings | ₹482 Cr |
| Other liabilitiesOther Liabilities | ₹41 Cr |
| AssetsTotal Assets | ₹985 Cr |
| Fixed assetsFixed Assets | ₹176 Cr |
| Capital work in progressCWIP | ₹5 Cr |
| Investments | ₹0 Cr |
| Other assetsOther Assets | ₹804 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | -₹59 Cr |
| Investing cash flowCash from Investing Activity | -₹34 Cr |
| Financing cash flowCash from Financing Activity | ₹93 Cr |
| Change in cashNet Cash Flow | ₹0 Cr |
Learn while you research
Academy chapters picked for Manorama Industries Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 44.5, learn when high multiples are justified.6 min read
- 04 Growth Investing69% revenue growth is in the top tier, learn how to value growth.7 min read
- 05 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 06 Cyclical vs Defensive StocksConsumer staples behave defensively across the business cycle.6 min read