Manorama Industries Ltd.

•

₹ 1,927.3-1.6%

2026-08-21

manoramagroup.co.inBSE: 541974NSE: MANORAMA

Market Cap₹ 12,358 Cr.

Current Price₹ 1,927

High / Low₹ 2,043 / 1,061

Stock P/E50.1

Book Value₹ 198

Price to Book14.29

Dividend Yield0.04 %

ROCE19.7 %

ROE24.8 %

Face Value₹ 2

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ABOUT

KEY POINTS

PROS

Latest quarter profit grew 67.6% YoY, showing strong momentum

CONS

Operating cash flow has been negative in recent years
Promoter holding has decreased over last 2 years: -2.9pp
Stock is trading at 14.3x its book value
Rich enterprise valuation - EV/EBITDA of 32.4x

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

Peer comparison

EDIT COLUMNS

Fast Moving Consumer GoodsFMCGConsumer Food

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	NESTLEIND	1456.65	73.70	280887.91	0.82	9586.80	1382.67	63781.80	1157.04	98.35	23.86
2.	VBL	438.00	43.75	148151.96	0.34	1525.36	15.08	8650.57	20.77	20.73	27.04
3.	BRITANNIA	5549.00	51.33	133657.82	1.63	593.38	14.08	4999.97	10.26	56.48	16.77
4.	JUBLFOOD	507.90	77.23	33513.54	0.24	100.03	6.03	2569.65	13.66	25.56	19.77
5.	HATSUN	964.45	61.68	21482.96	1.66	60.58	—	2363.72	17.61	14.60	10.81
6.	DEVYANI	147.70	0.00	18210.52	0.00	171.04	7576.84	15805.16	1064.74	8.98	16.09
7.	ZYDUSWELL	501.60	84.80	15958.94	0.24	118.90	-7.04	1437.00	67.54	4.42	16.82
8.	BIKAJI	606.50	58.83	15207.16	0.21	59.47	1.62	734.26	15.26	21.65	13.48
9.	LTFOODS	430.80	23.36	14959.66	0.70	183.45	8.87	3151.83	27.92	21.42	11.26
10.	MILKYMIST	184.25	111.68	14184.36	0.00	—	—	—	—	13.79	—
11.	MANORAMA	1957.75	50.10	12357.79	0.04	78.66	67.55	404.01	39.53	19.70	26.29
12.	KWIL	43.47	0.00	10213.67	0.00	50.70	354.77	878.30	99.34	—	11.77

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	195	209	233	290	323	363	391	404
	151	155	172	215	235	258	307	314
Operating Profit	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—
Other Income	3	4	10	6	0	12	-7	16
Interest	8	11	12	9	9	13	6	10
Depreciation	6	6	6	6	6	6	7	6
	34	41	52	65	73	96	64	106
Tax %	25.02%	25.90%	23.60%	28.32%	27.27%	24.63%	33.21%	26.03%
Net Profit	26	30	40	47	53	72	42	79
	4	5	7	8	9	12	7	1
Equity Capital	12	12	12	12	12	12	12	12
Reserves	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Equity Capital	12	12	12	12	12	12	12	12
Reserves	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Sep 2024

: 195
: 151
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 8
Depreciation: 6
: 34
Tax %: 25.02%
Net Profit: 26
: 4
Equity Capital: 12
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 12
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2024

: 209
: 155
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 11
Depreciation: 6
: 41
Tax %: 25.90%
Net Profit: 30
: 5
Equity Capital: 12
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 12
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2025

: 233
: 172
Operating Profit: —
OPM %: —
Other Income: 10
Interest: 12
Depreciation: 6
: 52
Tax %: 23.60%
Net Profit: 40
: 7
Equity Capital: 12
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 12
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 290
: 215
Operating Profit: —
OPM %: —
Other Income: 6
Interest: 9
Depreciation: 6
: 65
Tax %: 28.32%
Net Profit: 47
: 8
Equity Capital: 12
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 12
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 323
: 235
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 9
Depreciation: 6
: 73
Tax %: 27.27%
Net Profit: 53
: 9
Equity Capital: 12
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 12
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2025

: 363
: 258
Operating Profit: —
OPM %: —
Other Income: 12
Interest: 13
Depreciation: 6
: 96
Tax %: 24.63%
Net Profit: 72
: 12
Equity Capital: 12
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 12
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2026

: 391
: 307
Operating Profit: —
OPM %: —
Other Income: -7
Interest: 6
Depreciation: 7
: 64
Tax %: 33.21%
Net Profit: 42
: 7
Equity Capital: 12
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 12
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2026

: 404
: 314
Operating Profit: —
OPM %: —
Other Income: 16
Interest: 10
Depreciation: 6
: 106
Tax %: 26.03%
Net Profit: 79
: 1
Equity Capital: 12
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 12
Reserves: 0
Promoter Pledge %: 0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2025	TTM
	771	1,481
	585	1,114
Operating Profit	207	—
OPM %	27	—
Other Income	21	21
Interest	39	39
Depreciation	22	26
	146	339
Tax %	25	27
Net Profit	110	247
EPS	18	—
Dividend Payout %	3	—
Minority Interest	0	0
Share of Associates	0	0
Adjusted EPS	18	—
Minority Interest	0	0
Share of Associates	0	0
Adjusted EPS	18	—

Mar 2025

: 771
: 585
Operating Profit: 207
OPM %: 27
Other Income: 21
Interest: 39
Depreciation: 22
: 146
Tax %: 25
Net Profit: 110
EPS: 18
Dividend Payout %: 3
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 18
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 18

TTM

: 1,481
: 1,114
Operating Profit: —
OPM %: —
Other Income: 21
Interest: 39
Depreciation: 26
: 339
Tax %: 27
Net Profit: 247
EPS: —
Dividend Payout %: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: 72%
1 Year:: 38%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: —
Last Year:: 25%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2025
LIABILITIES	-
Equity Capital	12
	431
	427
Trade Payables	14
	99
Total Liabilities	983
ASSETS	-
	176
Capital Work in Progress	2
	550
	102
Cash & Bank	98
	54
Total Assets	983
Total Debt	481
Net Working Capital	317
Contingent Liabilities	1
Book Value per Share	74.35
Face Value	2.00
Total Debt	481
Net Working Capital	317
Contingent Liabilities	1
Book Value per Share	74.35
Face Value	2.00

Mar 2025

Equity Capital: 12
: 431
: 427
Trade Payables: 14
: 99
Total Liabilities: 983
: 176
Capital Work in Progress: 2
: 550
: 102
Cash & Bank: 98
: 54
Total Assets: 983
Total Debt: 481
Net Working Capital: 317
Contingent Liabilities: 1
Book Value per Share: 74.35
Face Value: 2.00
Total Debt: 481
Net Working Capital: 317
Contingent Liabilities: 1
Book Value per Share: 74.35
Face Value: 2.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2025
	-57
Cash from Investing	-34
Cash from Financing	93
	2
Free Cash Flow	-57
OCF / Net Profit	-0.52
Cumulative 5-Year FCF	0
OCF / Net Profit	-0.52
Cumulative 5-Year FCF	0

Mar 2025

: -57
Cash from Investing: -34
Cash from Financing: 93
: 2
Free Cash Flow: -57
OCF / Net Profit: -0.52
Cumulative 5-Year FCF: 0
OCF / Net Profit: -0.52
Cumulative 5-Year FCF: 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2025
PER SHARE	-
EPS (₹)	18.42
Book Value (₹)	74.35
Dividend per Share (₹)	0.60
Cash EPS (₹)	22.14
PROFITABILITY	-
Operating Margin %	24.15%
Net Margin %	14.24%
ROE %	24.78%
ROCE %	19.70%
	11.17%
EFFICIENCY	-
Debtor Days	48
Inventory Days	261
Payable Days	14
	295
FINANCIAL HEALTH	-
Debt to Equity (x)	1.09x
Interest Coverage (x)	4.73x
	1.67x
GROWTH	-
Revenue Growth %	0.00%
Operating Profit Growth %	0.00%
Net Profit Growth %	0.00%
	0.00%
VALUATION	-
P/E (x)	57.67x
P/B (x)	14.29x
Dividend Yield %	0.06%
	32.37x

Mar 2025

EPS (₹): 18.42
Book Value (₹): 74.35
Dividend per Share (₹): 0.60
Cash EPS (₹): 22.14
Operating Margin %: 24.15%
Net Margin %: 14.24%
ROE %: 24.78%
ROCE %: 19.70%
: 11.17%
Debtor Days: 48
Inventory Days: 261
Payable Days: 14
: 295
Debt to Equity (x): 1.09x
Interest Coverage (x): 4.73x
: 1.67x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 0.00%
P/E (x): 57.67x
P/B (x): 14.29x
Dividend Yield %: 0.06%
: 32.37x

Shareholding Pattern

Numbers in percentages

TRADES

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	57.26	57.26	54.42	54.42	54.41	54.32	54.32	54.32	54.32
	2.16	2.37	2.53	2.81	3.40	2.52	2.71	2.89	3.22
	1.74	1.79	4.67	5.11	4.58	4.41	3.57	2.96	2.59
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	38.84	38.56	38.38	37.67	37.60	38.75	39.40	39.83	39.87

Jun 2024

: 57.26
: 2.16
: 1.74
Government: 0.00
: 38.84

Sep 2024

: 57.26
: 2.37
: 1.79
Government: 0.00
: 38.56

Dec 2024

: 54.42
: 2.53
: 4.67
Government: 0.00
: 38.38

Mar 2025

: 54.42
: 2.81
: 5.11
Government: 0.00
: 37.67

Jun 2025

: 54.41
: 3.40
: 4.58
Government: 0.00
: 37.60

Sep 2025

: 54.32
: 2.52
: 4.41
Government: 0.00
: 38.75

Dec 2025

: 54.32
: 2.71
: 3.57
Government: 0.00
: 39.40

Mar 2026

: 54.32
: 2.89
: 2.96
Government: 0.00
: 39.83

Jun 2026

: 54.32
: 3.22
: 2.59
Government: 0.00
: 39.87

Documents

Announcements

Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-18 - Manorama Industries Limited has informed the Exchange about Transcript
Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-14 - Manorama Industries Limited has informed the Exchange about Link of Recording

Annual Reports

Credit Ratings

Nothing filed yet.

Concalls

Aug 2026
Transcript PPTREC
May 2026
Transcript PPTREC
Jan 2026
Transcript PPTREC