Manorama Industries shareholders approved the company’s financial statements for FY26 and declared a final dividend of 40% per equity share during its 21st Annual General Meeting on September 21, 2026. The meeting, conducted via video conference, also saw the reappointment of Whole-Time Director Gautam Kumar Pal.

The Board presented consolidated standalone results showing significant growth in top-line and bottom-line metrics for the fiscal year ended March 31, 2026. Management highlighted robust demand across food and cosmetics sectors as key drivers for the performance. The meeting commenced at 3:00 pm and concluded at 3:48 pm, with 54 members attending virtually.

Financial Performance Highlights

The company reported strong financial outcomes for FY26, reflecting expanded operational leverage and increased contribution from value-added specialty fats. Key standalone metrics disclosed during the proceedings are outlined below.

Return on Equity (ROE) improved to 40.3% in FY26 from 28.1% in FY25. Similarly, Return on Capital Employed (ROCE) rose to 33.6% from 19.8%. The net debt-to-equity ratio declined significantly to 0.38 from 0.83, indicating strengthened balance sheet health following a successful Qualified Institutional Placement (QIP).

What the Numbers Show

The divergence between revenue growth (76.1%) and EBITDA growth (92.4%) underscores substantial operating leverage achieved by Manorama Industries in FY26. This expansion in margins coincided with a reduction in working capital days from 151 in FY25 to 125 in FY26, suggesting improved efficiency in cash conversion cycles alongside higher volume throughput.

Governance and Resolutions

Shareholders approved several ordinary resolutions during the AGM:

• Adoption of audited standalone and consolidated financial statements for FY26.
• Reappointment of Mr. Gautam Kumar Pal as Whole-Time Director upon retirement by rotation.
• Declaration of final dividend at ₹0.80 per equity share of face value ₹2 each.
• Ratification of remuneration for Cost Auditors M/s. S N & Co.
• Approval of material related-party transactions.

All directors attended the meeting, including Chairman and Managing Director Ashish Ramesh Saraf. Statutory auditors M/s. Singhi & Co., secretarial auditors M/s. B.R. Agarwal & Associates, and internal auditor CLA Indus Value Consulting were present. The voting process was scrutinized by M/s. Mehta & Mehta, Company Secretaries.

Strategic Outlook

Management noted that Q1FY27 revenue grew 39.5% year-on-year, crossing the ₹400 crore quarterly milestone for the first time. Capacity expansions include a 30% increase in Solvent Fractionation Plant-II to 32,500 TPA. The company continues to focus on global expansion with a presence in over 39 countries and strategic investments in Burkina Faso for backward integration.

Manorama Industries has completed the dispatch of its postal ballot notice seeking shareholder approval to appoint Dr. Rohini Tiwari as a non-executive independent director. The company confirmed the completion of dispatch on September 18, 2026, via advertisements in Business Standard and Loksatta.

The Board of Directors initially approved the appointment on September 4, 2026, following recommendations from the Nomination and Remuneration Committee. Dr. Tiwari was appointed as an additional director on that date pursuant to Section 161 of the Companies Act, 2013. The proposed term spans five consecutive years, commencing on September 4, 2026, and ending on September 3, 2031.

Voting Process

Shareholders holding equity shares as of the cut-off date of September 11, 2026, are eligible to vote via remote e-voting only. No physical ballot forms are being dispatched in compliance with Ministry of Corporate Affairs circulars. The voting window opens at 9:00 am on Saturday, September 19, 2026, and closes at 5:00 pm on Sunday, October 18, 2026.

The company has engaged MUFG Intime India Private Limited to facilitate the electronic voting process. Members holding shares in physical form without registered email IDs must register their details with the Registrar & Share Transfer Agent or the Company to enable voting. Those holding shares in dematerialized mode should update their email IDs with their Depository Participants.

M/s. Mehta & Mehta has been appointed as the scrutinizer to oversee the postal ballot process. Ms. Alifya Sapatwala will represent the firm, with Ms. Namrata Tatiya serving as alternate representative. Once cast, votes cannot be changed or recast. If approved, the resolution will be deemed passed on the last day of e-voting.

Director Profile

Dr. Rohini Tiwari brings multidisciplinary experience in food technology, nutrition, and quality assurance. She holds a Ph.D. in Food Science and Nutrition and has served as Chief Clinical Nutritionist at Ganga Hospital, Coimbatore. Her industry background includes quality assurance roles at Hindustan Coca-Cola Beverages Pvt. Ltd. and nutraceutical R&D consultancy with Dr. Reddy's Laboratories.

The appointment is subject to member approval via special resolution. The results will be declared within two working days from the closure of e-voting, expected by October 20, 2026.