Manorama Industries Limited , a leading manufacturer of specialty fats and butters, has taken significant steps towards international expansion by signing strategic agreements in Burkina Faso and Brazil.

New Subsidiary in Burkina Faso

Manorama Industries has signed a Memorandum of Understanding (MOU) with the National Office for Major Projects of Burkina Faso to establish a new factory focused on processing Shea Nuts and Mango Kernels. The company plans to conduct this business through a wholly-owned subsidiary, tentatively named Manorama Burkina Industries SA. The proposed entity will have an authorized and paid-up capital of CFA 1,60,00,00,000 (160 crore CFA francs), with Manorama Industries Limited providing 100% subscription in cash.

Strategic Expansion in West Africa

This partnership aligns with Burkina Faso's industrialization policy and is expected to promote sustainable economic development in the region. The primary objectives of the new subsidiary will be:

• Buying, processing, and selling of shea nuts/butter
• Processing and selling of mango kernels/butter
• Handling other related raw materials

Manorama Industries brings to the table its two-decade expertise in manufacturing specialty fats and butters for Fortune 500 companies in the chocolate, confectionery, and cosmetic industries.

Brazilian Venture for Cocoa Butter Equivalent Production

In a parallel development, Manorama Industries has entered into a strategic partnership with DEKEL Agroindústria through its subsidiary Manorama Latin America LTDA. This collaboration aims to produce Cocoa Butter Equivalent (CBE) and specialty fats in Brazil. This move makes Manorama the first global CBE producer to manufacture in Brazil.

Partnership Details

The partnership will utilize DEKEL's facility in Itápolis, São Paulo, with Manorama supplying specialty raw materials for CBE production. This strategic alliance positions Manorama to supply CBE and specialty fats to the broader Latin American chocolate market.

Management's Perspective

Chairman and Managing Director Ashish Saraf stated that the Burkina Faso initiative supports backward integration plans and will improve operational efficiencies in Africa. He also emphasized that the Brazil partnership aims to cater to the growing demand for CBE and specialty fats in the Latin American chocolate market.

Investment Strategy and Regulatory Compliance

Manorama Industries has stated that investments in Burkina Faso will be made in one or more tranches, based on business requirements. This phased approach allows for flexibility in scaling operations as the venture progresses.

The company's Board of Directors approved the Burkina Faso expansion during a meeting. In compliance with SEBI regulations, Manorama Industries has disclosed the details of these developments to the stock exchanges.

Market Impact

These expansions into Burkina Faso and Brazil represent significant opportunities for Manorama Industries to strengthen its position in the global specialty fats and butters market. By establishing a direct presence in a key source region for shea and mango in West Africa, and entering the Latin American market for CBE production, the company is poised to enhance its supply chain, diversify its product offerings, and potentially increase its market share in the international cosmetic and food industries.

Manorama Industries Limited , a prominent player in the specialty fats and butter industry, has witnessed a significant change in its shareholding pattern. Ashish Ramesh Saraf, an immediate relative of the promoter group, has increased his stake in the company through an off-market gift transfer.

Key Details of the Transaction

• Acquisition Date: August 5, 2025
• Shares Acquired: 23,84,562 equity shares (4% stake)
• Mode of Transfer: Off-market gift transfer
• Transferors:
  • Shrey Ashish Saraf (11,92,281 shares)
  • Agastya Saraf (11,92,281 shares)

Impact on Shareholding

The transaction has resulted in a notable shift in the company's ownership structure:

Company Overview

Manorama Industries Limited, listed on both BSE and NSE, has a total equity share capital of 5,96,14,050 shares with a face value of Rs. 2 each. The company's total share capital remains unchanged at Rs. 11,92,28,100 following this transaction.

Regulatory Compliance

The company has duly informed the stock exchanges about this transaction, complying with Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Recent Company Developments

In a separate announcement, Manorama Industries Limited reported an upgrade in its credit rating. India Ratings & Research has upgraded the rating for the company's bank loan facilities:

• New Rating: IND A/Positive/IND A1
• Facilities Rated: Bank Loan Facilities
• Amount: INR 3,300.2 million (reduced from INR 3,999.0 million)

This credit rating upgrade potentially reflects the company's improving financial health and market position.

The inter-family transfer of shares and the recent credit rating upgrade underscore the dynamic nature of Manorama Industries' corporate landscape, potentially signaling confidence in the company's future prospects.