Manorama Industries Ltd. · NSE:MANORAMA
Manorama Industries — Q3 FY25 Earnings Presentation
49 slides from Manorama Industries's earnings presentation, Jan 21, 2025
Slide 1: Investor Presentation filing letter to exchanges
Manorama Industries Limited KHASRA No. 2449-2618 Nr. IIDC, Birkoni Mahasamund (C.G.) Pin : 493445 January 21, 2025 To, To, The Manager, The Manager, BSE Limited ("BSE") National Stock Exchange of India Limited ("NSE") Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, Dalai Street, Fort, G Blo
Slide 2: Empowering Sustainability – Investor Presentation Q3 & 9M FY25
EMPOWERING SUSTAINABILITY Manorama Industries Limited Investor Presentation Q3 & 9M FY25 January - 2025
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Manorama Industries Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any s
Slide 4: Table of Content
01 Q3 & 9MFY25 Financial Highlights 02 Manorama’s Unique Proposition 03 Advantage @ Manorama 04 Company Overview 05 Sustainable Business Practices Table 06 Leadership & Management Team of Content 07 Growth Strategy 08 Appendix
Slide 5: Q3 & 9M FY25 Financial Highlights
Q3 & 9M FY25 Financial Highlights
Slide 6: Management Commentary – Q3 & 9MFY25
Management Commentary – Q3 & 9MFY25 Commenting on the results and performance, Mr. Ashish Saraf, Chairman & MD said: “Manorama Industries Limited achieved its highest ever quarterly revenues during Q3FY25 at INR 2,092 million, registering an impressive growth of 112.5% YoY. This surge in revenue is
Slide 7: Q3 & 9M FY25 Results Highlights
Q3 & 9M FY25 Results Highlights Particulars (INR Millions) Q3FY25 Q3FY24 YoY Q2FY25 QoQ 9MFY25 9MFY24 YoY FY24 Revenue 2,092.0 984.5 112.5% 1,954.2 7.1% 5,380.4 3,277.5 64.2% 4,570.8 Cost of Goods Sold 988.3 525.3 88.1% 1,062.2 (7.0%) 2,825.5 1,756.3 60.9% 2,502.1 Total Income grew by 112.5% Gross
Slide 8: Q3FY25: Financial Snapshot
Q3FY25: Financial Snapshot Revenue (in INR Millions) EBITDA (in INR Millions) & EBITDA Margin (%) 26.4% 2,092 15.9% 552 985 112.5% 253.4% 156 Q3FY24 Q3FY25 Q3FY24 Q3FY25 PAT (in INR Millions) & PAT Margin (%) Earnings Per Share (in INR) 7.21 7.6% 14.1% 295 296.8% 476.8% 74 1.25 Q3FY24 Q3FY25 Q3FY24
Slide 9: 9MFY25: Financial Snapshot
9MFY25: Financial Snapshot Revenue (in INR Millions) EBITDA (in INR Millions) & EBITDA Margin (%) 5,380 23.6% 16.1% 1,271 3,278 64.2% 527 141.1% 9MFY24 9MFY25 9MFY24 9MFY25 PAT (in INR Millions) & PAT Margin (%) Earnings Per Share (in INR) 8.4% 13.0% 11.67 698 152.8% 4.63 152.1% 276 9MFY24 9MFY25 9M
Slide 10: Balance Sheet
Balance Sheet Equity and Liabilities (INR Millions) H1FY25 FY24 Assets (INR Millions) H1FY25 FY24 Share Capital 119 119 Non-Current Assets Other Equity 3,668 3,250 Plant, Property and Equipment 1,745 1,293 Total Equity 3,787 3,369 Capital Work in Progress 32 412 Borrowings 466 507 Other Non-Current
Slide 11: Historical Financial Snapshot (1/2)
Historical Financial Snapshot (1/2) Revenue (in INR Millions) EBITDA (in INR Millions) & EBITDA Margin (%) 17.1% 16.1% 16.1% 21.9% 14.0% 4,571 3,508 735 720 3,288 2,791 565 2,026 389 347 FY21 FY22 FY23 FY24 H1FY25 FY21 FY22 FY23 FY24 H1FY25 PAT (in INR Millions) & PAT Margin (%) *Earnings Per Share
Slide 12: Historical Financial Snapshot (2/2)
Historical Financial Snapshot (2/2) Return on Equity Return on Capital Employed 21.3% 28.9% 11.9% 20.3% 10.1% 10.0% 18.5% 9.0% 15.7% 13.0% FY21 FY22 FY23 FY24 H1FY25* FY21 FY22 FY23 FY24 H1FY25* Working Capital Analysis (in days) Net Debt to Equity 242 0.77 0.71 181 170 160 0.47 138 0.21 0.17 FY21 F
Slide 13: Manorama's Unique Proposition
Manorama’s Unique Proposition
Slide 14: Built on Strong Business Moats – Greener Future
Built on Strong Business Moats – Greener Future Waste to Wealth Competitive Marquee Manufacturing Industry Sustainable Growth Advantage Clientele Excellence Tailwinds Financial Performance Offers customer-centric solutions Integrated capacity powered with Huge industry demand of Cocoa Uplift
Slide 15: Advantage @ Manorama
Advantage @ Manorama
Slide 16: The Manorama Industries Edge
The Manorama Industries Edge # 1 Indian Exporter of Sal & Mango Based Speciality Fats & Butter # 1 Sal Fat Manufacturer in the World Leadership Status Leading manufacturer in the world manufacturing CBE & Exotic Speciality Fats and Butter from different seeds namely Sal, Mango, Shea, Kokum, Mo
Slide 17: Company Overview
Company Overview
Slide 18: Waste to Wealth Business Model
Waste to Wealth Business Model De-Oiled Cake Revenues: Sells De-Oiled Q3 FY25 – INR Cake to Indian 110 million Cattle Feed (9MFY25 – INR Industry 339 million) India: Sal, Mango, Kokum & Mowrah Manufactures Procure Exotic Extracts and Cocoa Butter Tree Borne Processes Seeds Equivalent (CBE) Seeds at
Slide 19: Strong Supply Chain Network
Strong Supply Chain Network India – Sal Seed Collection Process *Sal Forest - India Covers ~14% of Forest region Orissa, Bihar, Jharkhand, West Bengal, Madhya Pradesh & Chhattisgarh accounts of 30% of Scattered Seeds Seed Collection Pre-Cleaning Deshelling Cleaning Seed Collection Total Sal Fore
Slide 20: Glimpse of Seed Procurement Process/Team
Glimpse of Seed Procurement Process/Team Tribals Collecting Sal Seeds, India Management with Shea Seed Collection Team, Africa Low Risk of Non-availability of Raw Materials 19
Slide 21: CBE and Exotic Specialty Fats & Butter - Process
CBE and Exotic Specialty Fats & Butter - Process Raw Materials Sal/Mango/Shea illipe & other exotic seeds Raw Materials Shea / Illipe Raw Materials Sal/Mango Expeller Crude oil Cake Solvent Extraction Process Refinery process Crude oil De-oiled cake (cattle feed) Palm mid fraction Fractionation proc
Slide 22: CBE and Exotic Specialty Fats & Butter – Winning Proposition
CBE and Exotic Specialty Fats & Butter – Winning Proposition CBEs and Exotic Specialty Fats & Butter - Winning Case Factors Fractionated Ingredients Contains Same Fatty Acids & Comparable Physical & Fractionation of Exotic Blended without Compatible in all Proportion Triglycerides as Cocoa Chemical
Slide 23: Global CBE and Exotic Specialty Fats & Butter Industry
Global CBE and Exotic Specialty Fats & Butter Industry Global CBE and Exotic Specialty Fats & Butter: Demand Dynamics Global CBE and Specialty Fats & Butter: Market Size (in USD million) 2030 Advantage due to high CBEs and Exotic Specialty Cocoa Prices, supply chain Fats & Butter provides Rising Dem
Slide 24: State-of-the-Art Capacity & Sustainable Manufacturing
State-of-the-Art Capacity & Sustainable Manufacturing for Catering the Global CBE and Exotic Specialty Fats & Butter Demand Manorama’s Birkoni Plant (Raipur) Refinery Interesterification 45,000 MTPA 30,000 MTPA Extraction Plant *Fractionation 90,000 MTPA 40,000 MTPA Integrated Capacity Blending Stat
Slide 25: Building Capacities over a Period of Time
Building Capacities over a Period of Time The Journey Towards Building an Integrated Capacity Particulars (in Tons Per Annum) FY23 FY24 FY25 Capacity Addition Seed Milling (Expeller) 60,000 90,000 90,000 Added 30,000 TPA in FY24 Solvent Extraction Plant 90,000 90,000 90,000 Added 90,000 TPA in FY23
Slide 26: Building Capacities over a Period of Time
Building Capacities over a Period of Time The Journey Towards Building an Integrated Capacity Particulars FY20 FY21 FY22 FY23 FY24 FY25 CAGR Fractionation (TPA) 15,000 15,000 15,000 15,000 15,000 40,000 21.7% Revenues (in INR Crores) 188 203 279 351 457 24.9% Average Fixed Assets (in INR Crore) 29 5
Slide 27: R&D Capabilities for Catering the Global CBE Demand
R&D Capabilities for Catering the Global CBE and Exotic Specialty Fats & Butter Demand Milcoa® Innovation & Research Center – Edge Milcoa® Brand Range Spearheaded by Dr. Krishnadath Bhaggan, a professional with All-round filling fats (MilcocreamTM1056 and MilcocreamTM1010) Leadership 25+ years r
Slide 28: R&D Enabled State-of-the-Art DSIR Certified Lab
R&D Enabled State-of-the-Art DSIR Certified Lab Glimpse of Latest R&D Enabled Processes in DSIR Certified Lab 27
Slide 29: Array of Global Certifications
Array of Global Certifications Quest to be the Best: Wide Spectrum of Prestigious Certifications 28
Slide 30: Growing Global Footprints
Growing Global Footprints New Subsidiaries Launch Geographical Presence RUSSIA EUROPE RUSSIA EUROPE ASIA NORTH ASIA NORTH AMERICA LEBANON TURKEY AMERICA BURKINA EGYPT MEXICO GHANA FASO UAE MEXICO IVORY NIGERIA COAST TOGO BENIN SINGAPORE SINGAPORE BRAZIL AFRICA AFRICA BRAZIL SOUTH SOUTH AMERICA AUSTR
Slide 31: Fortune 500 Clientele
Fortune 500 Clientele Geographical Footprints Marquee Global Clientele
Slide 32: Expanding our Geographical Footprints
Expanding our Geographical Footprints Manorama Savanna One Subsidiary in *One Subsidiary Limited, UAE in Brazil Manorama Manorama Nigeria Savanna Savanna Togo Ghana Sarl, Limited, Togo Six Ghana Manorama Subsidiaries in Manorama Mena Brazil Africa Manorama Trading LLC Manorama Africa Burkina Sarl, S
Slide 33: Growth Strategy
Growth Strategy
Slide 34: Gearing up for the next wave of growth
Gearing up for the next wave of growth Capacity to Cater Growing CBE and Market Launch Innovative Vigoured Operational Exotic Specialty Fats & Diversification Products Efficiencies Butter Demand Deepening penetration R&D team continuous Economies of scale, Commissioned new operating leverage, to new
Slide 35: Sustainable Business Practices
Sustainable Business Practices
Slide 36: Environmental Initiatives
Environmental Initiatives Environment ❑ Zero effluent or water discharged outside the plant ❑ Entire treated water utilised in the plant ❑ The organization's water withdrawal has a negligible effect on the local water table ❑ Uses Biofuel Husk as an alternative fuel in the boiler Educational Tour of
Slide 37: Social Initiatives
Social Initiatives Social ❑ Empowering tribal women in seed gathering through spending INR 6.9 million towards CSR in FY24 for uplifting their overall health & hygiene ❑ The Company’s leadership composition is the fair representation of women in the Governance body and has Equal Remuneration Policy
Slide 38: Governance Initiatives
Governance Initiatives Governance ❑ Committed to UN Sustainable Development Goals & UN Global Compact ❑ Adheres principle and core element of the National Guidelines on Responsible Business Conduct (NGRBCs) ❑ Structured approach to corporate governance by delegating specific responsibilities to vari
Slide 39: Leadership Team & Management
Leadership Team & Management
Slide 40: Seasoned Board of Directors
Seasoned Board of Directors Ashish Saraf – Chairman & Managing Vinita Saraf - Vice Chairperson & Whole CA Ashok Jain - Whole Time Director & Director Time Director Chief Financial Officer Experience : 33 Years Experience : 21 Years Experience : 13 Years He has rich experience in the specialty fats S
Slide 41: Seasoned Board of Directors
Seasoned Board of Directors Mudit Kumar Singh - Independent Jose V Joseph - Independent Director Ashish Bakliwal - Independent Director Experience : 11 Years Director Experience : 38 Years Experience : 41 Years He is practicing CA. Experienced in the field of A senior retired bureaucrat from 1984 He
Slide 42: Experienced Management Team (1/2)
Experienced Management Team (1/2) Dr. Krishnadath Bhaggan - VP - R&D Appel Sten - VP – New & Existing Projects Deep Saraf - VP – Business Development Product Development Degree in Chemical Engineering from Part of co. since commencement. Currently Experience in R&D and Innovation for 22 Aalborg Univ
Slide 43: Experienced Management Team (2/2)
Experienced Management Team (2/2) Pankaj Gupta - VP – Operations Mansoor Ali – Associate VP - HR Chandan Gupta - Associate VP - Sales He has 32 years of experience in FMCG She has more than 30 years of experience in He is MBA in Operation Research and company like HUL, Nestle, Adani Wilmar Steel Man
Slide 44: Appendix
Appendix
Slide 45: Recent Awards & Accolades (1/2)
Recent Awards & Accolades (1/2) Shri. Ashish Saraf – Chairman and Managing Director Shri. Gautam Pal – Director and Shri. Ashok Jain Ekta Soni – Associate VP – IR receiving of Manorama Industries Limited received six – Whole Time Director & Chief Financial Officer, Sustainability Award 2024 on behal
Slide 46: Recent Awards & Accolades (2/2)
Recent Awards & Accolades (2/2) Shri Shrey Saraf – Whole Time Director, Manorama Industries receiving ‘Eminent Excellence in ESG & Sustainable Creation of Business through waste, with support to thousands of forest Shri. Ashish Saraf – Chairman and Managing Director and Shri Shrey dwellers’ Award Sa
Slide 47: Client Testimonials
Client Testimonials Meet the Women of Manorama – Article Published on The Body Shop Website Article Published on Lush Website 46 Note: The Brand names mentioned are the property of their respective owners and are used here for identification purposes only
Slide 48: Shareholder Information
Shareholder Information Capital Market Data Shareholding Pattern December 2024 (%) Promoter MANORAMA / NSE Ticker /BSE Code 541974 39% FIIs Current Market Price 1,115.6 54% (as on 20 January 2025) MF 4%3% Other Market Cap (INR Crores) 6,582.7 (as on 20 January 2025) 1400 Share Price Movement (1 Year
Slide 49: Thank You!
THANK YOU! Contact Information Company : Manorama Industries Limited Investor Relations Advisors : CIN: L15142MH2005PLC243687 Mr. Vikash Verma/Mr. Hiral Keniya Ms. Ekta Soni Mr. Deepak Sharma Associate Vice President - IR Company Secretary & Compliance officer E: vikash.verma1@in.ey.com/ E: ekta@man