Manorama Industries Profit Doubles To ₹233 Crore, Q4 Revenue Climbs 64%

Mumbai: Manorama Industries Limited reported a 40.8 percent year-on-year rise in consolidated net profit to Rupees 59.5 crore for Q4 FY26, supported by strong demand for specialty fats, butters, and cocoa butter equivalents. Revenue from operations during the quarter rose 64.2 percent to Rupees 382.3 crore from Rupees 232.8 crore in Q4 FY25. However, profit declined sequentially by 12.8 percent from Rupees 68.2 crore in Q3 FY26 amid foreign exchange-related provisions.

Revenue Growth Remains Strong

The company posted consolidated FY26 revenue of Rupees 1,357.7 crore, registering a 76.1 percent jump over Rupees 770.8 crore reported in FY25. EBITDA for the year increased 92.5 percent to Rupees 367.7 crore, while annual profit after tax surged 108.1 percent to Rupees 233.2 crore. During Q4 FY26, EBITDA rose 61 percent year-on-year to Rupees 102.9 crore, though EBITDA margin moderated to 26.9 percent from 27.4 percent in the year-ago quarter.

Sequential Performance Moderates

Sequentially, revenue increased 5.5 percent from Rupees 362.5 crore in Q3 FY26, while EBITDA improved 4.7 percent from Rupees 98.2 crore. However, quarterly PAT declined from Rupees 68.2 crore in the December quarter, impacted by mark-to-market provisions linked to foreign exchange hedging contracts. The company recognised an MTM provision of Rupees 17.05 crore during the quarter, while the cumulative MTM provision for FY26 stood at Rupees 23.30 crore. Net foreign exchange loss for Q4 FY26 was Rupees 7.58 crore.

Capacity Expansion And Strategic Capex

Chairman and Managing Director Ashish Saraf said the company enhanced the capacity of Solvent Fractionation Plant 2 by 30 percent to 32,500 tonnes per annum through debottlenecking. Similar expansion plans are underway for Solvent Fractionation Plant 1, currently operating at 15,000 TPA. The company also outlined strategic capital expenditure plans of around Rupees 460 crore over the next two to three years, including investments in refinery expansion, cocoa butter alternative manufacturing and a processing plant in Burkina Faso.

Cash Flow And Dividend

Manorama Industries reported net cash flow from operating activities of Rupees 259 crore as of March 31, 2026, while its working capital cycle improved to nearly 125 days in FY26. The board recommended a final dividend of Rupees 0.80 per equity share for FY26. Diluted earnings per share for the year increased to Rupees 39.05 from Rupees 18.73 in FY25.