As of 6 Nov 2026, Manorama Industries trades at 47.4× trailing earnings, above the industry P/E of 19.5×. It earns ROCE of 47% and ROE of 39%, and sales and net profit grew 58% and 96% a year over 3 years. Debt is 0.52× equity. It is a small-cap company with a market cap of ₹12,358 Cr, ranked 11th of 127 Packaged Foods companies by market cap; the shares rose 44% over the past year.
- ₹1,885.10
- ₹1,968.00
- ₹1,876.00
- ₹1,904.50
- 96.7K
Health check
- ReturnsAhead
+43.8% over a year, better than 6 of 7 peers.
- Price tagPricier
P/E 47.4 vs industry 19.5.
- GrowthStrong
Sales +57.6%, profit +96.2% a year over 3 years.
- ProfitabilityStrong
ROCE 47.4% vs peer median 15.3%.
- Balance sheetFair
Debt 0.52× equity, interest covered 9.6×, Piotroski 7 of 9.
- Red flags2 to check
P/E of 47.4 against an industry P/E of 19.5.
Small cap
Defensive
Key metrics
- Market cap
- ₹12,358 Cr
- Small cap
- P/E
- 47.4
- Industry 19.5
- Price to book
- 17.14
- Peers 8.88
- Dividend yield
- 0.04%
- ROE
- 39.4%
- Peers 14.8%
- ROCE
- 47.4%
- Peers 15.3%
- Debt to equity
- 0.52
- Debt ₹356 Cr
- EPS (TTM)
- ₹41.30
- Face value ₹2
- OPM (TTM)
- 25.5%
- Net margin 17.3%
- Sales growth
- +39.5%
- Latest quarter vs a year ago
- Profit growth
- +67.6%
- Latest quarter vs a year ago
- Price to sales
- 8.34
- EV/EBITDA 30.5
Strengths and risks
Strengths
- Return on equity of 39.4%.
- Return on capital employed of 47.4%.
- Quarterly profit up 67.6% on a year ago.
- Quarterly sales up 39.5% on a year ago.
Risks to check
- P/E of 47.4 against an industry P/E of 19.5.
- Promoter stake down from 54.3% to 51.4%.
About Manorama Industries
Manorama Industries Limited manufactures, processes, and supplies specialty fats and butters from tree-borne, and plant-based seeds worldwide. The company offers shea butter and fat, sal butter, sal fat, shea oil, sal oil, sal stearine, shea stearine, mango butter and fat, mango oil, mango stearine, kokum butter and oil, mowrah fat, and de-oiled cakes, as well as cocoa, mowrah, and phulwara butter. It also provides organic castor, neem, karanja, moringa,…
- Headquarters
- Raipur
- Sector
- Consumer Defensive
- ISIN
- INE00VM01036
- Website
- manoramagroup.co.in
Price range
- Avg volume (3M)
- 4.5 L
- 1-year return
- plus 43.8%
- From 52-week high
- minus 8.9%
Peers · Packaged Foods
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NESTLEINDNestle India | 1,282.10 | plus 1.89% | 2,47,229 | 60.6 | 42.76 | – | 79.9% | 21.0% | – | – | 0.94% | minus 0.5% |
| BRITANNIABritannia Industries | 4,785.00 | minus 3.92% | 1,15,255 | 43.2 | 27.13 | 61.2% | 66.7% | 18.4% | 5.7% | 3.0% | 1.89% | minus 15.5% |
| TATACONSUMTata Consumer Products | 1,086.30 | plus 0.80% | 1,07,511 | 63.3 | 4.86 | 8.3% | 7.6% | 14.0% | 13.9% | 8.6% | 0.92% | minus 8.6% |
| PATANJALIPatanjali Foods | 411.50 | plus 0.19% | 44,776 | 22.7 | 3.42 | 11.2% | 14.8% | 4.2% | 8.7% | 27.0% | 0.98% | minus 28.6% |
| HATSUNHatsun Agro Product | 1,068.10 | plus 0.33% | 23,792 | 66.0 | 12.07 | 20.2% | 19.0% | 10.7% | 11.2% | 29.0% | 1.87% | plus 2.4% |
| MILKYMISTMilky Mist Dairy Food | 297.20 | plus 0.93% | 22,880 | 91.2 | 8.88 | – | 9.7% | 10.1% | – | – | 0.00% | plus 63.7% |
| AWLAWL Agri Business | 167.00 | minus 0.48% | 21,573 | 18.7 | 1.98 | 15.3% | 11.1% | 2.9% | 8.7% | 21.4% | 0.60% | minus 39.5% |
| MANORAMAManorama Industries | 1,957.80 | plus 2.80% | 12,358 | 47.4 | 17.14 | 47.4% | 39.4% | 25.5% | 57.6% | 96.2% | 0.04% | plus 43.8% |
| Median of 7 peers | – | 0.33% | 44,776 | 60.6 | 8.88 | 15.3% | 14.8% | 10.7% | 8.7% | 21.4% | 0.94% | −8.6% |
Quarterly results
| ₹ Cr | Mar 25 | Jun 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 233 | 290 | 363 | 391 | 404 | |
| – | – | – | +68.1% | +39.5% | |
| 172 | 215 | 258 | 307 | 298 | |
| 61.3 | 74.7 | 104 | 84.6 | 106 | |
| 26.3% | 25.8% | 28.7% | 21.6% | 26.3% | |
| 9.5 | 5.8 | 11.6 | −7.1 | 16.2 | |
| 12 | 9.3 | 13.4 | 6.5 | 9.9 | |
| 6.4 | 5.7 | 6.4 | 7.4 | 6.2 | |
| 52.4 | 65.5 | 95.9 | 63.6 | 106 | |
| 23.6% | 28.3% | 24.6% | 33.2% | 26.0% | |
| 40 | 46.9 | 72.3 | 42.5 | 78.7 | |
| – | – | – | +6.1% | +67.6% | |
| 6.69 | 7.85 | 12.10 | 7.12 | 13.17 |
Profit & loss
- Sales CAGR 3Y
- +57.6%
- Profit CAGR 3Y
- +96.2%
- EPS CAGR 3Y
- +96.1%
- ROE
- 39.4%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 348 | 456 | 767 | 1,362 | |
| – | +30.9% | +68.3% | +77.6% | |
| 292 | 382 | 580 | 1,001 | |
| 56.5 | 73.5 | 187 | 361 | |
| 16.2% | 16.1% | 24.3% | 26.5% | |
| 5.2 | 11.9 | 18.6 | 8.1 | |
| 7.8 | 18.6 | 36.9 | 36 | |
| 10.9 | 13.6 | 22.1 | 25.7 | |
| 0.1 | – | −0.2 | 0.3 | |
| 43.1 | 53.2 | 146 | 308 | |
| 30.9% | 24.6% | 24.8% | 27.0% | |
| 29.8 | 40.1 | 110 | 225 | |
| – | +34.7% | +173.7% | +104.9% | |
| 4.99 | 6.72 | 18.35 | 37.66 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 11.9 | 11.9 | 11.9 | 11.9 | |
| 286 | 325 | 448 | 670 | |
| 110 | 346 | 482 | 355 | |
| 16.1 | 53.3 | 41.3 | 163 | |
| 424 | 737 | 983 | 1,200 | |
| 148 | 174 | 183 | 213 | |
| 51.7 | 44.4 | 7.3 | 18.8 | |
| 3.1 | 3.7 | 4.7 | 47.7 | |
| 58.3 | 87.1 | 97.9 | 84 | |
| 163 | 428 | 690 | 836 | |
| 424 | 737 | 983 | 1,200 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 59.3 | −153 | −56.9 | 250 | |
| −99.5 | −62.1 | −33.6 | −78.2 | |
| −7.1 | 214 | 92.8 | −165 | |
| −47.3 | −1.5 | 2.2 | 7.3 | |
| −51.3 | −39 | −31.8 | −54.8 | |
| 8 | −193 | −88.7 | 196 | |
| – | −2.4 | −2.4 | −3.6 |
Shareholding pattern
- Promoters51.38%
- Public48.62%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 51.38% | 48.62% | minus 2.94 | |
| 30 Jun 2026 | 54.32% | 45.68% | 0.00 | |
| 31 Mar 2026 | 54.32% | 45.68% | 0.00 | |
| 31 Dec 2025 | 54.32% | 45.68% | 0.00 | |
| 30 Sep 2025 | 54.32% | 45.68% | – |
Major shareholders
Filings & events
News
No recent news coverage found.