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Manorama Industries Ltd.
(MANORAMA)
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Rating:70Outperform
Price Target:
₹2,149.00
▲(60.59% Upside)
Action:Reiterated
Date:08/18/26
The score is driven primarily by strong financial performance (sharp FY2026 growth and margin expansion), supported by a clear bullish technical trend. These positives are tempered by expensive valuation (high P/E with minimal yield) and historical inconsistency in cash-flow generation despite the FY2026 rebound.
Positive Factors
Strong Revenue and EPS Growth
Strong FY2026 revenue and earnings expansion indicates robust customer demand and improving scale. Continued adoption across food, personal care and industrial applications could support durable growth if the company maintains execution and capacity.
Negative Factors
Inconsistent Cash Generation
The FY2026 cash-flow rebound is encouraging, but repeated prior-year outflows show that earnings conversion can be uneven. Working-capital needs or business-cycle effects may continue to absorb cash and constrain internally funded expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue and EPS Growth
Strong FY2026 revenue and earnings expansion indicates robust customer demand and improving scale. Continued adoption across food, personal care and industrial applications could support durable growth if the company maintains execution and capacity.
Read all positive factors
Manorama Industries Ltd. (MANORAMA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹125.67B
Dividend Yield0.03%
Average Volume (3M)49.59K
Price to Earnings (P/E)47.9
Beta (1Y)1.23
Revenue Growth59.79%
EPS Growth71.95%
CountryIN
Employees411
SectorGeneral
Sector StrengthN/A
IndustryPackaged Foods
Share Statistics
EPS (TTM)41.31
Shares Outstanding63,122,390
10 Day Avg. Volume16,407
30 Day Avg. Volume49,592
Financial Highlights & Ratios
PEG Ratio0.33
Price to Book (P/B)10.04
Price to Sales (P/S)4.94
P/FCF Ratio40.71
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)50.08
Revenue Forecast (FY)₹17.75B
Manorama Industries Ltd. Business Overview & Revenue Model
Company Description
Established in 2005 and headquartered in Raipur, India, Manorama Industries Limited operates as a manufacturer, processor, and global supplier of specialized fats and butters. These premium ingredients are extracted from a variety of tree-borne an...
How the Company Makes Money
Manorama Industries primarily makes money by manufacturing and selling specialty fats and oils (including refined and fractionated vegetable fats) to business customers. Its core revenue stream is product sales of plant-based lipid ingredients use...
Manorama Industries Ltd. Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
72
Positive
Cash Flow
67
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 14.81B | 13.67B | 7.71B | 4.56B | 3.51B | 2.78B |
| Gross Profit | 5.64B | 5.25B | 3.73B | 2.01B | 1.35B | 1.07B |
| EBITDA | 3.87B | 3.62B | 1.86B | 866.74M | 617.60M | 471.80M |
| Net Income | 2.47B | 2.15B | 1.10B | 401.09M | 297.75M | 241.45M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 11.90B | 9.83B | 7.37B | 4.24B | 3.96B |
| Cash, Cash Equivalents and Short-Term Investments | 840.47M | 938.74M | 983.46M | 870.76M | 582.65M | 491.93M |
| Total Debt | 0.00 | 3.56B | 4.82B | 3.46B | 1.10B | 1.08B |
| Total Liabilities | -6.82B | 5.17B | 5.24B | 4.00B | 1.26B | 1.28B |
| Stockholders Equity | 6.82B | 6.72B | 4.60B | 3.37B | 2.98B | 2.68B |
Cash Flow | ||||||
| Free Cash Flow | 1.64B | 1.66B | -887.21M | -1.93B | 79.71M | -930.32M |
| Operating Cash Flow | 2.01B | 2.21B | -568.97M | -1.53B | 592.85M | -333.59M |
| Investing Cash Flow | -609.31M | -857.80M | -336.36M | -620.88M | -994.71M | -345.41M |
| Financing Cash Flow | -1.25B | -1.28B | 927.69M | 2.14B | -71.24M | 1.17B |
Manorama Industries Ltd. Technical Analysis
Positive
1338.15
Price Trends
1706.39
Positive
1591.36
Positive
1457.94
Positive
Market Momentum
75.09
Negative
67.71
Neutral
90.63
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MANORAMA, the sentiment is Positive. The current price of 1338.15 is below the 20-day moving average (MA) of 1861.92, below the 50-day MA of 1706.39, and below the 200-day MA of 1457.94, indicating a bullish trend. The MACD of 75.09 indicates Negative momentum. The RSI at 67.71 is Neutral, neither overbought nor oversold. The STOCH value of 90.63 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MANORAMA.
Manorama Industries Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ₹148.04B | 34.02 | ― | 0.53% | 35.83% | 39.24% | |
75 Outperform | ₹96.55B | 12.72 | ― | 0.82% | 0.51% | 40.39% | |
70 Outperform | ₹125.67B | 47.86 | ― | 0.03% | 59.79% | 71.95% | |
63 Neutral | ₹77.06B | 18.47 | ― | 0.18% | 25.31% | 75.08% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | ₹18.11B | 18.68 | ― | 0.52% | 43.22% | 12.57% | |
47 Neutral | ₹29.11B | 31.88 | ― | 0.45% | 19.44% | 31.16% |
* General Sector Average
IN:MANORAMA
Manorama Industries Ltd.
2,002.95
675.75
50.92%
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Manorama Industries Ltd. Corporate Events
Manorama Industries Board Clears Wholly Owned Subsidiary in Chad
Jul 9, 2026
Manorama Industries Ltd. has announced that its board of directors has approved the incorporation of a wholly owned subsidiary in Chad, following a meeting held on July 9, 2026. The move signals an expansion of the company’s international fo...
Manorama Industries Raises ₹500 Crore via Qualified Institutions Placement
Jul 2, 2026
Manorama Industries Ltd. has completed a qualified institutions placement, issuing and allotting 3,401,360 equity shares of face value ₹2 each at an issue price of ₹1,470 per share, reflecting a 4.99% discount to the floor price and ra...
Manorama Industries Launches Qualified Institutions Placement, Sets Floor Price at ₹1,547.18
Jun 29, 2026
Manorama Industries Ltd., an export-focused, ISO-certified manufacturer and supplier of specialty products with multiple international quality and sustainability accreditations, operates from Chhattisgarh and Maharashtra and serves global industri...
Manorama Industries Closes Trading Window Ahead of June-Quarter Results
Jun 26, 2026
Manorama Industries Ltd. has announced that its trading window for dealing in company securities will be closed from 1 July 2026 until 48 hours after it declares its unaudited standalone and consolidated financial results for the quarter ended 30 ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.