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Manorama Industries Ltd.

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manoramagroup.co.inBSE: 541974NSE: MANORAMA
Market Cap₹ 13,148 Cr.
Current Price
High / Low₹ 2,150 / 1,061
Stock P/E49.8
Book Value₹ 202
Price to Book9.74
Dividend Yield0.04 %
ROCE35.5 %
ROE41.0 %
Face Value₹ 2

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ABOUT

AI Sector View

AI GENERATED

Fast Moving Consumer Goods

Hold

Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.

Confidence
62%
View full sector analysis →

PROS

  • Company has delivered good profit growth of 74.1% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 27.4%
  • Company has a healthy return on capital (ROCE) of 24.0%
  • Latest quarter profit grew 61.3% YoY, showing strong momentum
  • Company has delivered good sales growth of 46.3% CAGR over last 5 years
  • Operating margins have improved to 27.1% from 17.8%

CONS

  • Promoter holding has decreased over last 2 years: -2.9pp
  • Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.12x)
  • Operating cash flow has been negative in recent years
  • Stock is trading at 9.7x its book value
  • Though reporting repeated profits, the company pays out little dividend (2.0%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Fast Moving Consumer GoodsFMCGConsumer Food
Part ofNIFTY MICROCAP250NIFTY TOTAL MKT
S.No.Name
1.NESTLEIND1396.0070.63269192.680.869586.801382.6763781.801157.0498.3523.86
2.VBL411.3041.09139120.780.361525.3615.088650.5720.7720.7327.04
3.BRITANNIA5011.0046.35120699.101.81593.3814.084999.9710.2656.4816.77
4.JUBLFOOD472.9571.9131207.380.25100.036.032569.6513.6625.5619.77
5.HATSUN1192.2076.2426556.050.5060.58—2363.7217.6117.4010.81
6.MILKYMIST279.35169.3221505.580.00646.79—9734.46—13.7914.77
7.ZYDUSWELL565.6095.6217995.170.21118.90-7.041437.0067.544.4216.82
8.DEVYANI135.850.0016749.490.00171.047576.8415805.161064.748.9816.09
9.LTFOODS442.0023.9715348.580.68183.458.873151.8327.9219.7711.26
10.BIKAJI567.2055.0114221.770.2259.471.62734.2615.2621.6513.48
11.MANORAMA2082.9053.3013147.760.0478.6667.55404.0139.5335.0026.29
12.KWIL41.560.009764.900.0050.70354.77878.3099.34—11.77
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
11211898129133195209233290323363382404
939983109107150154169211236264279311
Operating Profit191816212745556479889810393
OPM %16.71%15.71%15.86%16.07%20.07%23.13%26.37%27.45%27.27%27.12%27.09%26.90%23.07%
324443295111-516
Interest25678811129811910
Depreciation3344466666676
Profit before Tax161211141835405569749281109
Tax %29.87%29.57%29.75%10.07%25.73%24.33%26.51%22.61%26.85%26.31%25.43%26.36%25.30%
Net Profit129713142730425155686082
1.941.441.252.102.274.484.957.098.489.1811.439.9713.66

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
1452191021882032793514577711,3581,472
143204741441682402943845809901,090
Operating Profit316284435395674191368382
OPM %1.90%7.17%27.62%23.29%17.11%13.95%16.09%16.08%24.75%27.08%25.94%
134668613191122
Interest12510106920393838
Depreciation1118881114222626
Profit before Tax216273222344353148316356
Tax %32.83%37.63%28.24%27.90%34.79%27.96%30.85%24.57%24.46%26.19%25.78%
Net Profit110192315243040112233264
EPS6.370.0020.2620.9713.1020.764.996.7318.8039.06—
Dividend Payout %0.00%0.00%0.00%0.00%0.00%0.00%8.01%5.94%3.19%2.05%—

COMPOUNDED SALES GROWTH

10 Years:
26%
5 Years:
46%
3 Years:
57%

COMPOUNDED PROFIT GROWTH

10 Years:
71%
5 Years:
74%
3 Years:
99%

STOCK PRICE CAGR

10 Years:
—
5 Years:
—
3 Years:
79%
1 Year:
54%

RETURN ON EQUITY

10 Years:
23%
5 Years:
21%
3 Years:
27%
Last Year:
41%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

2026

Sep 11

₹ 0.40

Rs.0.8000 per share(40%)Final Dividend

2024

Aug 27

₹ 0.20

Rs.0.4000 per share(20%)Final Dividend

2023

Sep 11

₹ 0.20

Rs.2.0000 per share(20%)Final Dividend

2025

Apr 28

₹ 0.30

Rs.0.6000 per share(30%)Final Dividend

2026

Aug 17

₹ 0.40

Rs.0.8000 per share(40%)Final Dividend

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital281111111212121212
121793116134256286324433681
0182411985109111337471348
Trade Payables71133784401480
0339161012245480
Total Liabilities22461332892543964247379851,201
33651575597129176195
Capital Work in Progress011600424941218
00000000010
21837150123181158389549710
00000004210256
Cash & Bank16194236175360889691
2532515765614859119
Total Assets22461332892543964247379851,201

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
12-8-5-5542-2271-153-59259
Cash from Investing0-1-50-1011-35-99-62-34-87
Cash from Financing-5166385-45117-721493-165
63215-049-47-107

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
57.2657.2654.4254.4254.4154.3254.3254.3254.32
2.162.372.532.813.402.522.712.893.22
1.741.794.675.114.584.413.572.962.59
Government0.000.000.000.000.000.000.000.000.00
38.8438.5638.3837.6737.6038.7539.4039.8339.87

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-04
Change in Director(s)

2026-09-04 - Manorama Industries Limited has informed the Exchange regarding Change in Director(s) of the company.

2026-09-04
Outcome of Board Meeting

2026-09-04 - Manorama Industries Limited has informed the Exchange regarding Outcome of Board Meeting held on September 04, 2026.

2026-08-28
Copy of Newspaper Publication

2026-08-28 - Manorama Industries Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-27
Shareholders meeting

2026-08-27 - Manorama Industries Limited has informed the Exchange regarding Dispatch of letter to shareholders whose e-mail addresses are not registered with Company/RTA/Depository Participants.

2026-08-27
Shareholders meeting

2026-08-27 - Manorama Industries Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on Monday, September 21, 2026 at 3:00 P.M. (IST) .

2026-08-22
Copy of Newspaper Publication

2026-08-22 - Manorama Industries Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-18
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-18 - Manorama Industries Limited has informed the Exchange about Transcript

2026-08-14
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-14 - Manorama Industries Limited has informed the Exchange about Link of Recording

2026-08-14
Copy of Newspaper Publication

2026-08-14 - Manorama Industries Limited has informed the Exchange about Copy of Newspaper Publication for Unaudited Financial Results (Both Standalone and Consolidated) for the quarter ended June 30, 2026.

News

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