Manorama Industries Limited has clarified the delay in disclosing a customs inquiry, stating that the lag was necessary to conduct a detailed internal review of multiple import consignments under the India-UAE CEPA. The company name voluntarily paid ₹20,64,17,893 to resolve the inquiry initiated by the Special Intelligence & Investigation Branch, Customs, Indore, and has since initiated recovery proceedings against its overseas supplier. This disclosure addresses concerns regarding compliance with the 24-hour timeline prescribed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company received a summons under Section 108 of the Customs Act, 1962, dated July 23, 2026, on July 24, 2026. The inquiry concerned imports undertaken by the company, requiring verification and reconciliation of records across two ports. Manorama Industries noted that no show cause notice, demand order, adjudication order, or penalty order had been issued by the Customs Department in relation to the inquiry. The delay in disclosure was attributed to the complexity of reconciling records for multiple consignments, including a correction required for one consignment, before arriving at an accurate assessment of financial implications.

Timeline of Events

The reconciliation process was completed on July 29, 2026, following which the aggregate quantum of ₹20,64,17,893 was ascertained as voluntarily paid by the company. Concurrently, Manorama Industries engaged in discussions with the overseas supplier of the imported goods to seek recovery of the amount involved. These discussions culminated in the issuance of a debit note to the supplier on August 10, 2026. The company finalized its overall assessment of the matter, including the financial particulars and recovery action, on that date, leading to the disclosure filed with BSE Limited.

Regulatory Compliance and Future Measures

Manorama Industries acknowledged that the disclosure exceeded the 24-hour timeline prescribed under Regulation 30 read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company stated that the delay was neither deliberate nor attributable to any intent to withhold material information from the market. Instead, it was occasioned by the time required to ascertain and finalize complete facts and financial particulars necessary for an accurate and complete disclosure.

Deepak Sharma, Company Secretary & Compliance Officer of Manorama Industries Limited, signed the clarification letter dated August 11, 2026, submitted to the Listing Compliance Monitoring Team at BSE Limited. The company reaffirmed its commitment to corporate governance and transparency, stating it will implement appropriate internal escalation processes to ensure timely disclosures in accordance with SEBI Listing Regulations. This includes making initial disclosures of material events within the prescribed timeline, with further particulars to follow via supplementary disclosure as they are ascertained.

Manorama Industries Limited has expanded its international footprint by incorporating a wholly owned subsidiary in the Republic of Chad on July 20, 2026. The new entity, named Manorama Savannah Agro Chad SARL, was established with the primary objective of expanding the company's business operations. The Certificate of Incorporation was received by the company on the evening of July 20, 2026.

The subsidiary falls under the Food & Cosmetic Industry (Trading) sector. As a wholly owned subsidiary, it is classified as a related party of Manorama Industries Limited. The company confirmed that the promoter and promoter group have no interest in the transaction other than what is stated, and any future dealings with the subsidiary will be conducted on an arm's length basis.

Financial Details of the Subsidiary

The incorporation involved a total cost of acquisition of CFA 10,000,000. Manorama Industries Limited holds 100% of the shareholding in the new entity, acquired through a full cash subscription to the initial paid-up capital.

Regulatory and Operational Status

The incorporation was completed in accordance with the laws applicable in the Republic of Chad. Since the entity is newly incorporated, it does not have a history of turnover for the past three years. The intimation was submitted to the exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.