MarketFriction

Manorama Industries Ltd

NSE MANORAMA · BSE 541974 · Other Food Products
₹1,880.30 +1.48%
NSE close2026-10-01
52 week range1,060.60 - 2,149.50
Market cap₹11,763 Cr.
P/E44.5
Microcap 250 Price band 20% Delivery 41.6%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales11898129133195209233290323363382404
Expenses9983109107150154169211236264279295
Operating Profit18162127455564798898103109
OPM %16%16%16%20%23%26%27%27%27%27%27%27%
Other Income24443295111-516
Interest5678811129811910
Depreciation344466666676
Profit before tax1211141835405569749281109
Tax %30%30%10%26%24%27%23%27%26%25%26%25%
Net Profit9712142730425155686082
EPS in Rs1.441.252.102.274.484.957.098.489.1911.439.9713.66
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1311452101021882032793514577711,3581,472
Expenses127143193731441682402943845809901,074
Operating Profit4317294435395674191368398
OPM %3.0%1.9%8%28%23%17%14%16%16%25%27%27%
Other Income1123668613191122
Interest212510106920393838
Depreciation11118881114222626
Profit before tax2216273222344353148316356
Tax %36%33%38%28%28%35%28%31%25%24%26%
Net Profit1110192315243040112233264
EPS in Rs1.081.282.633.434.202.624.055.006.7318.8039.0644.25
Dividend Payout %0%0%0%0%0%0%0%8%6%3%2%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth26%46%57%59%
Compounded Profit Growth70%74%99%77%
Stock Price CAGR%44%65%34%
Return on Equity24%25%30%40%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital22281111111212121212
Reserves811121793116134256286325450683
Borrowings450182411985108110346482355
Other Liabilities33835422419165341150
Total Liabilities172123451332892543964247379851,200
Fixed Assets3333651575597129176195
CWIP00011600425042518
Investments0000000000010
Other Assets14182041112237197299278565804977
Total Assets172123451332892543964247379851,200
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity2-11-11-6033-3359-154-59259
Cash from Investing Activity2-1-50-1011-35-99-62-34-87
Cash from Financing Activity-1166285-45117-721493-165
Net Cash Flow33215-049-47-107
Free Cash Flow1-14-32-9129-938-193-90206
CFO/OP72%-47%-16%-126%121%-56%126%-188%-15%93%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days31335032403329334815
Inventory Days1018637273669391535272586516356
Days Payable552101114724247601340
Cash Conversion Cycle814-1340312553408544294559551331
Working Capital Days0-0-1129456128172119100105100
ROCE %27%24%17%62%37%22%14%13%13%13%23%35%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters57.26%57.26%57.26%57.26%57.26%54.42%54.42%54.41%54.32%54.32%54.32%54.32%
FIIs2.80%2.81%2.53%2.16%2.37%2.53%2.81%3.40%2.52%2.71%2.89%3.22%
DIIs3.27%2.55%2.51%1.74%1.79%4.70%5.14%4.61%4.45%3.61%3.00%2.63%
Public36.69%37.40%37.69%38.83%38.58%38.35%37.64%37.56%38.71%39.36%39.78%39.83%
No. of Shareholders6,7128,04814,27914,04014,50618,15219,93824,61732,67134,70336,33533,841

Fundamentals

Market Cap₹ 11,763 Cr.
Current Price₹ 1,864
Stock P/E44.5
Book Value₹ 116
ROCE35.4 %
ROE40.2 %
Dividend Yield0.04 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)59%
Compounded Profit Growth (TTM)77%
Standalone figures.
Valuation
Market capRs 11,227 Cr
Enterprise valueRs 11,491 Cr
P/E (TTM)42.49x
Price to book16.16x
Price to sales7.63x
EV / EBITDA27.34x
EV / EBIT29.14x
EV / sales7.81x
Price to cash flow43.29x
Earnings yield2.35%
Dividend yield0.04%
P/E, 3-year average48.18x
P/B, 3-year average10.15x
P/E, 5-year average32.85x
P/B, 5-year average6.46x
Profitability
Operating margin (excl. other income)27.08%
Operating margin (incl. other income)27.92%
EBITDA margin28.55%
Pre-tax margin24.18%
Net profit margin17.95%
Net margin, latest quarter20.20%
ROE40.32%
ROCE35.45%
ROA21.34%
ROE, 3-year average27.00%
ROCE, 3-year average23.96%
ROA, 3-year average13.76%
ROE, 5-year average20.64%
ROCE, 5-year average19.60%
ROA, 5-year average11.19%
ROIC (approx.)30.35%
Tax rate26.19%
Other income / net worth1.63%
Growth
Sales growth (latest year)76.13%
Profit growth (latest year)108.14%
Sales CAGR, 3 years57.01%
Sales CAGR, 5 years46.29%
Profit CAGR, 3 years98.59%
Profit CAGR, 5 years74.10%
Sales growth QoQ5.67%
Profit growth QoQ37.08%
Sales growth YoY (latest quarter)39.51%
Profit growth YoY (latest quarter)61.31%
Per share
EPS (TTM)Rs 44.25
EPS (latest year)Rs 39.06
EPS (latest quarter)Rs 13.66
EPS, 3-year averageRs 21.53
EPS, 5-year averageRs 21.97
Book value per shareRs 116.38
Sales per shareRs 246.55
Cash flow per shareRs 43.44
Free cash flow per shareRs 34.50
Dividend per share (latest year)Rs 0.80
Dividend per share, 3-year averageRs 0.60
Dividend per share, 5-year averageRs 0.95
Dividends
Dividend payout2.05%
Dividend payout, 3-year average3.73%
Dividend payout, 5-year average4.79%
Efficiency
Asset turnover1.13x
Fixed asset turnover6.95x
Inventory turnover1.18x
Inventory days309 days
Debtor days15 days
Debtors turnover24.13x
Creditor days40 days
Cash conversion cycle331 days
Working capital days100 days
Leverage
Total debtRs 355 Cr
Cash and bankRs 91 Cr
Net debtRs 264 Cr
Debt to equity0.51x
Net debt / EBITDA0.63x
Interest coverage10.31x
Current ratio (filing 2026-03-31)2.00x
Quick ratio (filing 2026-03-31)0.47x
Trade payables (filing 2026-03-31)Rs 80 Cr
Owners' fund to total sources57.88%
Debt to assets29.61%
Cash flow
Cash from Operating Activity (latest year)Rs 259 Cr
Cash from Investing Activity (latest year)Rs -87 Cr
Cash from Financing Activity (latest year)Rs -165 Cr
Net Cash Flow (latest year)Rs 7 Cr
Free cash flow (latest year)Rs 206 Cr
FCFE (approx.: FCF + change in debt)Rs 79 Cr
Cash from ops / profit, 5 years0.16x
Sales to cash flow5.23x
Statement figures
Net sales (TTM)Rs 1,472 Cr
Net sales (latest year)Rs 1,358 Cr
Sales (latest quarter)Rs 404 Cr
Operating profit excl. other income (latest year)Rs 368 Cr
Operating profit (latest quarter)Rs 109 Cr
Other income (TTM)Rs 22 Cr
EBITDA (TTM)Rs 420 Cr
PBDT (TTM)Rs 382 Cr
Profit before tax (TTM)Rs 356 Cr
Tax (latest year)Rs 83 Cr
Net profit (TTM)Rs 264 Cr
Net profit (latest year)Rs 233 Cr
Net profit (latest quarter)Rs 82 Cr
Depreciation (TTM)Rs 26 Cr
Depreciation (latest quarter)Rs 6 Cr
Interest (TTM)Rs 38 Cr
Cost of goods sold (latest year)Rs 839 Cr
Total expenditure (latest year)Rs 990 Cr
Total income (latest year)Rs 1,369 Cr
Share capitalRs 12 Cr
ReservesRs 683 Cr
Shareholders' fundsRs 695 Cr
Total assetsRs 1,200 Cr
Net blockRs 195 Cr
Capital work in progressRs 18 Cr
InvestmentsRs 10 Cr
ReceivablesRs 56 Cr
InventoryRs 710 Cr
Other liabilitiesRs 150 Cr
Shares outstanding (crore)5.97
Ownership
Promoter holding54.32% (-0.09 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 42.5 is at the 38th percentile of its own 8.1-year range (median 53.4, low 12.2, high 175.3).
P/B 16.16 is at the 78th percentile (median 9.63).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodMANORAMANifty 50Difference
1 week-0.1%-2.8% +2.7 pts
1 month+2.5%-6.8% +9.3 pts
3 months+20.3%-7.6% +28.0 pts
6 months+66.4%+0.4% +66.0 pts
1 year+29.6%-9.9% +39.5 pts
2 years+136.3%-13.6% +149.9 pts
3 years+351.3%+14.2% +337.1 pts
5 years+533.8%+27.9% +505.9 pts
28 mutual fund schemes hold about ₹342 Cr. Over three months 14 bought more and 10 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Aditya Birla SL Small Cap Fund1.52%95 -13%
LIC MF Multi Cap Fund1.68%38 -14%
WOC Flexi Cap Fund0.36%33 +100%
LIC MF Small Cap Fund3.24%27 -15%
WOC Mid Cap Fund0.36%27 +100%
WOC Multi Cap Fund0.45%18 +100%
JM Small Cap Fund1.63%15 +231%
WOC Multi Asset Allocation Fund0.17%15 +100%
Motilal Oswal Nifty Microcap 250 Index Fund0.48%12 -6%
Baroda BNP Paribas Aggressive Hybrid Fund0.95%12 +100%
Baroda BNP Paribas Aggressive Hybrid Fund0.95%12 +100%
Baroda BNP Paribas Multi Asset Fund0.80%12 +100%
LIC MF ULIS Regular Premium Uniform Cover Yrly 15Y1.70%8 -39%
WOC Balanced Advantage Fund0.25%6 +100%
LIC MF Midcap Fund1.24%5 -43%
WOC Aggressive Hybrid Fund0.58%3 +100%
WOC ELSS Tax Saver Fund0.42%2 +100%
DynaSIF Equity Ex-Top 100 Long-Short Fund0.89%1 +100%
WOC Consumption Opportunities Fund0.92%1 +100%
WOC Balanced Hybrid Fund0.31%1 +100%
Groww Nifty Total Market Index Fund0.02%0 -4%
Angel One Nifty Total Market Index Fund0.02%0 -4%
Mirae Asset Nifty Total Market Index Fund0.02%0 +2%
Bandhan Nifty Total Market Index Fund0.02%0 -4%
Motilal Oswal BSE 1000 Index Fund0.02%0 -8%

Red flags

F-score 8 of 8
explainWeak cash conversion Cash from operations was 12% of net profit over the last 3 years
lookAuditor change Auditor change 2026-05-11: Manorama Industries Limited has informed the Exchange regarding Change in Auditors of the company.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹404 Cr +39.3% vs Jun 2025. Net profit ₹82 Cr +60.8%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-11Dividend - Re 0.80 Per Share
2025-08-21Dividend - Rs 0.60 Per Share
2024-08-27Annual General Meeting/Dividend - Re 0.40 Per Share
2024-03-07Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share0.2000
2023-09-11Annual General Meeting/Dividend - Rs 2 Per Share
2022-09-09Annual General Meeting
DateTypeWhat it says
2026-09-30Concall / analyst meetSchedule of meet
2026-09-22Shareholder meetingVoting results.
2026-09-22Board meeting outcomeOutcome of Board Meeting held on September 22, 2026.
2026-09-21Shareholder meetingProceedings of Annual General Meeting held on September 21, 2026
2026-09-18Shareholder meetingNotice of Postal Ballot.
2026-09-04Director changeChange in Director(s) of the company.
2026-09-04Board meeting outcomeOutcome of Board Meeting held on September 04, 2026.
2026-08-27Shareholder meetingDispatch of letter to shareholders whose e-mail addresses are not registered with Company/RTA/Depository Participants.
2026-08-27Shareholder meetingNotice of Annual General Meeting to be held on Monday, September 21, 2026 at 3:00 P.M. (IST) .
2026-08-18Concall / analyst meetTranscript
2026-08-14Concall / analyst meetLink of Recording
2026-08-13Investor PresentationInvestor Presentation
2026-08-13Press ReleaseA press release dated August 13, 2026, titled "Press Release for the Quarter ended June 30, 2026.".
2026-08-13Record DateRecord date for the purpose of Dividend is 14-Sep-2026.
2026-08-13Board meeting outcomeManorama Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-10Concall / analyst meetSchedule of meet
2026-08-10Disclosure of material issueManorama Industries Limited has informed regarding Disclosure of material issue.
2026-07-21General UpdatesIncorporation of Wholly Owned Subsidiary Company in Republic of Chad
2026-07-09Board meeting outcomeOutcome of Board Meeting held on July 09, 2026 in respect of incorporation of Wholly Owned Subsidiary Company in CHAD.
2026-07-07Disclosure under SEBI TakeovAshish Ramesh Saraf has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substanti...
2026-07-03ESOPAllotment of 12500 Equity Shares under its ESOP Scheme.
2026-07-02Board meeting outcomeOutcome of Board Meeting held on July 02, 2026 in respect of QIP allotment.
2026-07-02Board meeting outcomeOutcome of Board Meeting held on July 02, 2026 in respect of closure of QIP issue
2026-06-29Board meeting outcomeOutcome of Board Meeting held on Jun 29, 2026 in respect of QIP.
2026-06-29General UpdatesAudited Standalone and Consolidated Financial Statements for the Financial Year ended March 31, 2026.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Manorama Industries Ltd?

Manorama Industries Ltd (MANORAMA) has a market capitalisation of Rs 11,763 Cr. at the 2026-10-01 close.

What is the P/E ratio of Manorama Industries Ltd?

Manorama Industries Ltd trades at a P/E of 44.5 on trailing twelve-month profit, at the 2026-10-01 close.

What were Manorama Industries Ltd's latest quarterly results?

In the Jun 2026 quarter, Manorama Industries Ltd sales was Rs 404 Cr (+39.3% vs Jun 2025) and net profit was Rs 82 Cr.

What is the 52-week high and low of Manorama Industries Ltd?

The 52-week high is Rs 2,149.50 and the 52-week low is Rs 1,060.60.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03