Manorama Industries Reports Strong Performance with 76.1% Revenue Growth in FY26

Manorama Industries Reports Strong Performance with 76.1% Revenue Growth in FY26​

Manorama Industries Limited, a pioneer in the manufacturing of Cocoa Butter Equivalent (CBE), specialty fats, and butters, announced its financial results for the fourth quarter and the full fiscal year ended March 31, 2026.

The company reported significant growth, with FY26 revenue increasing by 76.1% year-on-year (YoY) to INR 13,577.0 Million. Furthermore, EBITDA grew by 92.5% YoY to INR 3,677.1 Million, while Profit After Tax (PAT) surged by 108.1% YoY to INR 2,332.2 Million.

Consolidated Financial Performance​

The company's consolidated financial results for the fiscal year 2026 and quarter 4, 2026, are detailed below:

Key Performance Highlights​

The financial highlights for Q4 and FY26 confirm the strong growth trajectory across core metrics:

• Revenue: Q4 FY26 revenues stood at INR 3,823.4 Million, representing a 64.2% YoY increase. Total FY26 revenues reached INR 13,577.0 Million, demonstrating a 76.1% growth over FY25. This growth is attributed to a favorable product mix of value-added products and higher utilization from enhanced fractionation capacity. For FY26, the Domestic to Export Revenue Mix was recorded at 43:57.
• EBITDA: EBITDA for Q4 FY26 improved by 61.0% YoY to INR 1,028.5 Million. For the full year, EBITDA increased by 92.5% YoY to INR 3,677.1 Million, benefiting from cost controls measures and operational optimization. The EBITDA margin stood at 26.9% in Q4 FY26 and 27.1% for FY26, an expansion of 230 basis points YoY.
• PAT: PAT for Q4 FY26 increased by 40.8% YoY, reaching INR 595.2 Million. Similarly, FY26 PAT grew by 108.1% YoY to INR 2,332.2 Million. The PAT margin was 15.6% for Q4 FY26 and 17.2% for FY26, representing an expansion of 264 basis points YoY.

Operational and Strategic Outlook​

Commenting on the performance, Chairman and Managing Director of Manorama Industries, Mr. Ashish Saraf, noted that the company has delivered a sustainable performance during FY26, achieving revenues of INR 1,358 Crores, marking a 76.1% year-on-year growth. He stated that this growth underscores the sustainable demand for the company's products across the Food and Cosmetics sectors, leveraging the strength of the integrated value chain.

In terms of capacity enhancement, Mr. Saraf highlighted that by the end of FY26, the company boosted the capacity of its Solvent Fractionation Plant 2 (SF 2) by 30%, increasing it from 25,000 to 32,500 tonnes per annum through debottlenecking. Plans are also underway to implement similar capacity enhancements for Solvent Fractionation Plant 1 (SF 1), currently operating at 15,000 TPA, to meet the rising demand for Specialty fats and butters.

Looking ahead, the company plans to further strengthen its market position through strategic capital expenditure (capex) estimated at approximately INR 460 crores over the next two to three years. These investments will target forward and backward integration, a new manufacturing facility for cocoa butter alternatives, refinery expansion, and the establishment of a processing plant in Burkina Faso. These initiatives aim to diversify raw material sources, enhance global competitiveness, and support long-term sustainable growth.

The company also reported that in FY26, its annual Cash Profit (PAT + Depreciation) of 3258.77 Crore exceeded its Gross Block (Land + Building + Plant & Machinery) of 250.85 Crore, indicating strong capital efficiency.

On liquidity and shareholder returns, Manorama Industries' net cash flow from operating activities stood at INR 259 Crores as of March 31, 2026. The working capital cycle improved to approximately 125 days in FY26. Furthermore, the Board announced a final dividend of INR 0.80 per equity share (40% of the face value of INR 2).

MANORAMA Stock Price Movement​

Today, Manorama Industries Limited shares edged higher, closing at ₹1597 after gaining 1.83% during trading. The stock saw a strong flow, trading on a total volume of 248,873 shares during the session.