Manorama Industries

Manorama Industries disclosed strong quarterly results with consolidated revenue of INR 612.9 crores for H1 FY26, representing 86.4% year-on-year growth. EBITDA stood at INR 156.6 crores with a 27.2% margin, while profit after tax reached INR 105.5 crores (17.2% margin). For Q2 FY26, revenue was INR 323.3 crores with EBITDA of INR 87.7 crores (27.1% margin) and PAT of INR 54.9 crores (17% margin). The company revised its annual guidance upward from INR 1,050 crores to INR 1,150 crores plus. Value-added products contributed 70%-75% to sales, with plant utilization at 80%-85% of 40,000 tons capacity. Export sales accounted for 58% of revenue while domestic sales were 42%. The company plans capacity expansion from 40,000 to 52,000 metric tons annually through plant upgradation in Q3. Management announced INR 450 crores in capital expenditure for expansion projects, including backward integration facilities in West Africa and forward integration in Latin America. Top customers include Mondelez, Nestle, and Hershey's, with top 10 customers contributing around 40% of revenue. Working capital days improved from 151 to 97 days, with a target of 75 days over the next two years.

Manorama Industries delivered robust quarterly results with net profit reaching 548.8 million rupees compared to 267 million rupees in the same period last year. Revenue grew significantly to 3.23 billion rupees from 1.95 billion rupees year-on-year. EBITDA increased to 877 million rupees versus 452 million rupees in the prior year period. The company's EBITDA margin improved to 27.12% from 23.13% year-on-year, indicating enhanced operational efficiency alongside revenue growth.

Manorama Industries has increased its FY26 revenue guidance to over ₹1,150 crores. The company attributes this upward revision to growing demand for specialty fats, global expansion initiatives, and capacity upgrades. These factors are expected to drive improvements in margins and return on capital employed (ROCE).