Manorama Industries Limited has announced a significant credit rating upgrade from Care Edge Ratings, marking a positive development in the company's financial standing. The rating agency upgraded the company's credit rating from CARE A to CARE A+ with a stable outlook on March 27, 2026.

Credit Rating Enhancement Details

The rating upgrade encompasses substantial enhancements to the company's banking facilities. Care Edge Ratings has not only improved the credit rating but also increased the facility amounts significantly, reflecting confidence in Manorama Industries' financial capabilities.

Regulatory Compliance and Disclosure

The company has fulfilled its regulatory obligations by informing both major stock exchanges about this development. Manorama Industries communicated the rating upgrade to BSE Limited and the National Stock Exchange of India Limited in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Facility Expansion

The rating upgrade comes with substantial increases in banking facility limits. The long-term bank facilities have been enhanced by Rs. 85.00 crore, rising from Rs. 492.90 crore to Rs. 577.90 crore. More notably, the long-term/short-term bank facilities have seen a dramatic increase of Rs. 95.00 crore, expanding from Rs. 10.00 crore to Rs. 105.00 crore.

Company Profile and Certifications

Manorama Industries operates from its registered office in Mumbai and corporate office in Raipur, Chhattisgarh. The company maintains multiple quality and sustainability certifications including:

• ISO 9001, ISO 14001 & ISO 45001 certification
• RSPO, Kosher, and Halal (MUI) certifications
• EcoVadis Committed badge and Sedex SMETA 4-Pillar certification
• Recognition as a Government of India Star Export House
• MSME ZED GOLD certification

This credit rating upgrade positions Manorama Industries favorably for future growth initiatives and demonstrates the company's commitment to maintaining strong financial health and operational excellence.

Manorama Industries Limited has completed the dispatch of its postal ballot notice on March 20, 2026, seeking shareholder approval for a significant fund-raising initiative through qualified institutions placement (QIP) or other permissible modes. The company aims to raise up to ₹500 crore to support its expansion plans and strengthen its financial position.

Compliance Filing and Notice Dispatch

The company has filed compliance documents under Regulation 30 and 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirming completion of postal ballot notice dispatch. The notice has been published in Business Standard (English) and Loksatta (Marathi) newspapers on March 21, 2026.

Board Approval and Timeline

The Board of Directors approved the postal ballot process on March 12, 2026, setting in motion a comprehensive shareholder consultation process. The company has established a detailed timeline for the postal ballot procedure, ensuring compliance with regulatory requirements.

Fund Raising Details

The special resolution seeks approval for raising funds through various mechanisms, with QIP being the primary mode. The company's current authorized capital stands at ₹30 crore, while the paid-up capital as of December 31, 2025, is ₹11.94 crore, divided into 5,97,08,530 equity shares of ₹2 face value each.

E-voting Process and Scrutinizer

The company has engaged MUFG Intime India Private Limited (formerly Link Intime India Private Limited) to facilitate the e-voting process. The Board has appointed M/s. Mehta & Mehta, Company Secretaries as scrutinizer for conducting the postal ballot process.

Utilization of Proceeds

The company has outlined specific purposes for the fund utilization, ensuring transparency in deployment. The proceeds will support multiple strategic initiatives aimed at strengthening the company's market position and operational capabilities.

Key utilization areas include:

• Capital expenditure for project expansion and new undertakings
• Working capital requirements to support business operations
• Repayment or prepayment of existing borrowings
• Funding organic and inorganic growth opportunities
• Research and development activities
• General corporate purposes (limited to 25% of total funds)

Regulatory Compliance

The fund raising initiative complies with various regulatory frameworks, including the Companies Act 2013, SEBI ICDR Regulations 2018, and SEBI Listing Regulations 2015. The company has ensured adherence to all applicable provisions governing qualified institutions placement.

For QIP-specific compliance, the resolution incorporates several key requirements including pricing not less than the floor price as per SEBI ICDR Regulations, discount limitation of maximum 5% on floor price, and minimum two allottees for issues up to ₹250 crore.

Shareholders can access the complete postal ballot notice on the company's website and participate in the e-voting process through the designated platform. The resolution requires approval as a special resolution, necessitating support from at least 75% of voting shareholders.