Manorama Industries Limited announced its unaudited financial results for Q2 and H1 FY27 ended September 30, 2026, pursuant to Regulation 30 of SEBI Listing Regulations, 2015.

Financial Performance (Consolidated)

Q2 FY27 Results:

  • Revenue: ₹4,588.6 million, up 41.9% YoY from ₹3,233.1 million in Q2 FY26
  • EBITDA: ₹1,181.8 million, up 34.4% YoY from ₹879.2 million in Q2 FY26
  • EBITDA margin: 25.8% (down 144 bps from 27.2% in Q2 FY26)
  • PAT: ₹808.1 million, up 51.8% YoY from ₹532.4 million in Q2 FY26
  • PAT margin: 17.6% (up 114 bps from 16.5% in Q2 FY26)
  • Diluted EPS: ₹12.44, up 39.6% YoY from ₹8.91 in Q2 FY26

H1 FY27 Results:

  • Revenue: ₹8,628.7 million, up 40.8% YoY from ₹6,128.6 million in H1 FY26
  • EBITDA: ₹2,243.9 million, up 38.0% YoY from ₹1,626.2 million in H1 FY26
  • EBITDA margin: 26.0% (down 53 bps from 26.5% in H1 FY26)
  • PAT: ₹1,594.7 million, up 59.2% YoY from ₹1,001.9 million in H1 FY26
  • PAT margin: 18.5% (up 213 bps from 16.4% in H1 FY26)
  • Diluted EPS: ₹25.61, up 52.7% YoY from ₹16.77 in H1 FY26

Full Year FY26 Reference:

  • Revenue: ₹13,667.4 million
  • EBITDA: ₹3,613.3 million
  • EBITDA margin: 26.4%
  • PAT: ₹2,249.2 million
  • PAT margin: 16.5%

Operational Highlights

  • Growth driven by strong demand across product portfolio and higher sales volumes
  • Domestic-Export mix for H1FY27: 39:61, indicating diversified market reach
  • Despite increased freight costs, the company maintained strong profitability

Leadership Transition

The company announced a leadership restructuring:

  • Mr. Mudit Kumar Singh - Chairman: Leads Board, strengthening corporate governance and risk oversight
  • Mr. Deep Saraf - Managing Director: Leads operations and execution, including manufacturing excellence, supply chain, and capacity utilization
  • Mr. Ashish Saraf - President Strategic Planning & Business Development: Focuses on long-term strategy, global partnerships, and customer/supplier relationships
  • Mrs. Vinita Saraf - President Business Excellence & Development: Leads business excellence and development, strengthening processes and operational capabilities

Management Commentary

Mr. Deep Saraf, Managing Director, commented on the strong performance citing:

  • Healthy demand and stronger value-added mix driving growth
  • Focus on translating expanded capacities into sustainable growth
  • Exports accounting for 61% of H1FY27 revenue
  • Innovation as critical growth lever through DSIR-certified Milcoa® Innovation & Research Centre
  • Integrated business model with robust balance sheet positioning the company for long-term opportunities in CBE and specialty fats

Company Background

Manorama Industries Limited is a manufacturer of specialty fats & butters and exotic products, including Cocoa Butter Equivalent (CBE), Sal CBE & Stearin, Shea CBE & Stearin, and Mango CBE & Stearin. The company serves chocolate, confectionery, and cosmetic industries with customized solutions. The company holds multiple international certifications including ISO 9001, ISO 14001, ISO 45001, RSPO, Kosher, Halal (MUI), EcoVadis, and Sedex SMETA 4-Pillar.