Manorama Industries Limited profit rises 60% as sales grow 41%

Manorama Industries Limited reported standalone net profit of Rs 87.819 crore for the three months ended September 30, 2026, 60% higher than a year earlier, as revenue from operations rose 41% to Rs 456.0475 crore. The unaudited results were reviewed by the Audit Committee and approved by the board on November 12, 2026.

How did Manorama Industries perform in the September quarter?

Manorama Industries recorded standalone revenue from operations of Rs 456.0475 crore in the three months ended September 30, 2026, compared with Rs 323.3093 crore in the corresponding 2025 quarter. Total income was Rs 471.3047 crore, including Rs 15.2571 crore of other income, versus total income of Rs 323.9473 crore a year earlier.

Standalone profit before tax rose to Rs 117.8891 crore from Rs 73.4866 crore, while net profit increased to Rs 87.819 crore from Rs 54.8825 crore. No exceptional items were reported in either quarter. Current tax was Rs 31.7636 crore, compared with Rs 19.6753 crore, while deferred tax was a Rs 1.6934 crore credit.

Manorama Industries reported basic earnings per share of Rs 13.54 for the September 2026 quarter, against Rs 9.18 a year earlier. Diluted earnings per share were Rs 13.55, compared with Rs 9.18. The company stated that these earnings-per-share figures, based on shares with a face value of Rs 2 each, were not annualised.

What changed in Manorama Industries’ quarterly costs?

Manorama Industries’ standalone total expenses rose to Rs 353.4155 crore from Rs 249.4607 crore in the September quarter. Cost of materials consumed increased to Rs 262.4116 crore from Rs 243.072 crore, while employee benefit expenses rose to Rs 20.5319 crore from Rs 13.833 crore.

The inventory-change line was an expense of Rs 0.7286 crore in the latest quarter, compared with a negative Rs 69.1517 crore a year earlier. Finance cost increased to Rs 11.3108 crore from Rs 7.7797 crore, depreciation and amortisation rose to Rs 6.2705 crore from Rs 6.0464 crore, and other expenses increased to Rs 52.1626 crore from Rs 48.2812 crore.

Manorama Industries’ revenue also increased sequentially from Rs 403.9593 crore in the three months ended June 30, 2026. Net profit rose from Rs 81.5859 crore in that quarter, while profit before tax increased from Rs 109.2132 crore. Materials consumed declined from Rs 358.9694 crore in the June quarter, when the inventory-change line was negative Rs 131.5286 crore.

How did Manorama Industries’ consolidated results compare?

Manorama Industries reported consolidated revenue from operations of Rs 458.8635 crore for the September 2026 quarter, compared with Rs 323.3093 crore a year earlier. Consolidated net profit was Rs 80.8089 crore, up from Rs 53.2425 crore, while consolidated profit before tax rose to Rs 110.1783 crore from Rs 73.2029 crore.

Consolidated total expenses were Rs 358.3703 crore, compared with Rs 250.1851 crore in the September 2025 quarter. Cost of materials consumed was Rs 257.4155 crore and other expenses were Rs 55.2727 crore in the latest quarter. The consolidated result reported no exceptional items.

Consolidated revenue was Rs 2.816 crore higher than standalone revenue of Rs 456.0475 crore, but consolidated net profit was Rs 7.0101 crore below standalone net profit of Rs 87.819 crore. The filing identifies manufacturing of exotic seed-based fats and butters, including cocoa butter equivalent, or CBE, as the sole reportable segment for both the company and the group.

What do Manorama Industries’ half-year results show?

Manorama Industries’ standalone revenue from operations for the six months ended September 30, 2026 was Rs 860.0069 crore, compared with Rs 612.8601 crore in the same period of 2025. Half-year standalone net profit rose to Rs 169.4049 crore from Rs 105.4587 crore, while profit before tax increased to Rs 227.1023 crore from Rs 143.6303 crore.

The consolidated half-year result showed revenue from operations of Rs 862.8695 crore, compared with Rs 612.8601 crore a year earlier, and net profit of Rs 159.467 crore against Rs 100.1874 crore. Consolidated basic earnings per share were Rs 25.61 for the six-month period, compared with Rs 16.78, while standalone basic earnings per share were Rs 27.10 against Rs 17.66.

Other income was Rs 31.2835 crore in the standalone first half and Rs 25.8657 crore on a consolidated basis. Manorama Industries states that other income includes mark-to-market gains or losses on foreign-currency fluctuation, so the total-income figures include items beyond revenue from operations.

What do Manorama Industries’ balance sheet and cash flow show?

Manorama Industries’ standalone total assets stood at Rs 1,977.3069 crore on September 30, 2026, compared with Rs 1,200.5014 crore on March 31, 2026. Inventory rose to Rs 796.5456 crore from Rs 710.4028 crore, trade receivables increased to Rs 110.2806 crore from Rs 56.2669 crore, and other current assets rose to Rs 313.7698 crore from Rs 66.4671 crore.

Standalone equity increased to Rs 1,349.0522 crore from Rs 694.8612 crore over the same period. Paid-up equity share capital was Rs 12.6245 crore on September 30, compared with Rs 11.9447 crore on March 31, while other equity rose to Rs 1,336.4277 crore from Rs 682.0195 crore.

Net cash used in operating activities was Rs 245.5831 crore for the six months ended September 30, 2026, despite profit before tax of Rs 227.1023 crore. The cash-flow statement records working-capital outflows of Rs 247.3027 crore for other current assets, Rs 86.1428 crore for inventory and Rs 54.0504 crore for trade receivables. Financing activities provided Rs 623.8249 crore, including Rs 487.9207 crore from issue of share capital including premium.

Conclusion

Manorama Industries’ September-quarter filing records higher standalone and consolidated revenue and profit, led by standalone revenue of Rs 456.0475 crore and net profit of Rs 87.819 crore. The company’s reported business remains a single segment producing exotic seed-based fats and butters, including CBE, while half-year standalone profit reached Rs 169.4049 crore.

The filing does not disclose a revenue target or a scheduled next event. The next results will show whether the September-quarter increase in revenue is accompanied by movement in inventory of Rs 796.5456 crore, receivables of Rs 110.2806 crore and other current assets of Rs 313.7698 crore, which contributed to negative operating cash flow in the first half.