Manorama Industries Ltd (FMCG - Chocolate) — fundamental analysis, earnings data, and key metrics. PE: 33.7. ROE: 23.9%. This stock is not currently in the Nifty 500 momentum outperformers list.
Based on Q3 FY26 earnings • Updated Feb 22, 2026
What: 52,000 MTPA capacity achieved through debottlenecking, supporting revenue growth to ₹1,300 cr
Impact: +₹150 Cr revenue
“We are already increasing our throughput approximately by 30% through the bottlenecking. So that will cater to the growth for the next two years.”
What: Higher-margin products driving OPM to 27.1% from previous 16-17%
“We have improved the product mix, we have improved the share of value added product... we can report a very good margin... which was related to a couple of years back, which is around 16, 17%.”
What: Forward/backward integration projects expected to improve margins beyond 27%
“We are coming up with projects which is related to forward and backwards that should really help in improving the margins and we are working for that.”
Earnings deceleration risks from management commentary
Trigger: Loss of value-added product mix or capacity utilization
Impact: -1000 bps margin impact
Management view: Current margin of 25-27% is sustainable but working to improve further
Monitor: Value-added product mix percentage
Trigger: Project delays or cost overruns
Impact: -300 bps margin impact
Management view: Not explicitly addressed
Monitor: Capex spending vs timeline
Key quotes from recent conference calls
“We are already increasing our throughput, you know approximately by 30% through the bottlenecking. So that will cater to the growth for the next two years. — Ekta Soni”
“We believe that the current margin which is around 25 to 27% which we always share and guide in the range happens to be on a sustainable mode. But of course we are in the trajectory to improve over the medium term and in a longer term because there are multi level strategy, we are coming up with projects which is related to forward and backwards that should really help in improving the margins and we are working for that. — Ekta Soni”
“We have utilized our capacity which we have commenced last year of 25,000 tonnes. So that attributes mainly to our growth in this number. — Ekta Soni”
“In light of these positive developments, we are excited to to announce that we have properly revised our financial year 26 Revenue guidance from INR 1150 crores to INR 1300 crores. — Management”
Forward-looking targets from management for FY26
Revenue Growth Target
13%
Implied PAT Growth
10%
OPM Guidance
25%
Capex Plan
₹460 Cr
Key Milestones
• 52,000 MTPA capacity by FY26
• ₹1,300 cr revenue for FY26
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Feb 22, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Manorama Industries Ltd's latest quarterly results (Dec 2025) show
Manorama Industries Ltd's current PE ratio is 33.7x.
Manorama Industries Ltd's price-to-book ratio is 12.8x.
Manorama Industries Ltd's fundamental strength based on key financial ratios:
Manorama Industries Ltd has a debt-to-equity ratio of N/A.
Manorama Industries Ltd's operating cash flow is negative (FY2025).
Manorama Industries Ltd's current dividend yield is 0.05%.
Manorama Industries Ltd's shareholding pattern (Dec 2025)
Manorama Industries Ltd's promoter holding has remained stable recently.
Manorama Industries Ltd is an established outperformer with 1 weeks of consecutive Nifty 500 outperformance.
Manorama Industries Ltd has 3 key growth catalysts identified from recent earnings analysis
Manorama Industries Ltd has 2 key risks worth monitoring
In Q3 FY26, Manorama Industries Ltd's management highlighted
Manorama Industries Ltd's management has provided the following forward guidance for FY26
Based on quantitative research signals, here is why Manorama Industries Ltd may be worth studying
Manorama Industries Ltd investment thesis summary:
Manorama Industries Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
