Manorama Industries Ltd. · NSE:MANORAMA
Manorama Industries — Q2 & H1 FY26 Earnings Presentation
51 slides from Manorama Industries's earnings presentation, Oct 17, 2025
Slide 1: Manorama Industries Limited – Exchange Filing Letter
Manorama Industries Limited KHASRA No. 2449-2618 Nr. IIDC, Birkoni October 17, 2025 Mahasamund (C.G.) Pin: 493445 To, To, The Manager The Manager Listing Department Listing Department BSE Limited ("BSE") National Stock Exchange of India Limited ("NSE") Phiroze Jeejeebhoy Towers, "Exchange Plaza", C/
Slide 2: Investor Presentation Q2 & H1FY26
Manorama Industries Limited Investor Presentation Q2 & H1FY26 October - 2025 Empowering Sustainability
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 Contents
01 02 03 04 Q2 & H1FY26 Manorama’s Company Growth Financial Unique Overview Strategy Highlights Table of Proposition Contents 05 06 07 Sustainable Leadership & Appendix Business Management Practices Team
Slide 5: Q2 & H1FY26 Financial Highlights
Q2 & H1FY26 Financial Highlights
Slide 6: Management Commentary – Q2 & H1FY26
Management Commentary – Q2 & H1FY26 “Manorama Industries Limited delivered another strong performance in H1FY26, reaffirming its position as a global leader in specialty fats and butters. The growth was fueled by a superior mix of value-added products, optimized use of the newly upgraded fractionati
Slide 7: Financial Snapshot
Manorama Industries Stellar Q2 & H1 FY26 Performance EBITDA (in INR Mn) PAT (in INR Mn) Revenue (in INR Mn) & EBITDA Margin (%) & PAT Margin (%) Financial Snapshot 3,233 23.1% 27.1% 13.7% 17.0% Q2 FY26 877 549 1,954 452 65.4% YoY 267 93.9% YoY 105.5% YoY Q2FY25 Q2FY26 Q2FY25 Q2FY26 Q2FY25 Q2FY26 EBI
Slide 8: Q2 & H1FY26 Results Highlights
Q2 & H1FY26 Results Highlights Particulars (INR Millions) Q2FY26 Q2FY25 YoY Q1FY26 QoQ H1FY26 H1FY25 YoY FY25 TotalIncome grew by 65.4% Revenue 3,233.1 1,954.2 65.4% 2,895.5 11.7% 6,128.6 3,288.3 86.4% 7,708.4 YoY to INR 3,233 million in Q2 Cost of Goods Sold 1,739.2 1,062.2 63.7% 1,525.7 14.0% 3,
Slide 9: Balance Sheet
Balance Sheet Equity and Liabilities (INR 30th Sep. 31st March 30th Sep. 31st March Assets (INR Millions) Millions) 2025 2025 2025 2025 Share Capital 119 119 Non-Current Assets Other Equity 5,590 4,500 Plant, Property and Equipment 1,906 1,746 Total Equity 5,709 4,619 Capital Work in Progress 51 24
Slide 10: Historical Financial Snapshot (1/2)
Historical Financial Snapshot (1/2) Revenue (in INR Millions) EBITDA (in INR Millions) & EBITDA Margin (%) 7,708 27.2% 24.8% 14.0% 16.1% 16.1% 6,129 1,911 1,666 4,571 3,508 2,791 735 565 389 FY22 FY23 FY24 FY25 H1FY26 FY22 FY23 FY24 FY25 H1FY26 PAT (in INR Millions) & PAT Margin (%) Earnings Per Sha
Slide 11: Historical Financial Snapshot (2/2)
Historical Financial Snapshot (1/2) Return on Equity Return on Capital Employed 36.9% 49.9% 24.3% 33.0% 11.9% 18.5% 9.0% 10.0% 13.0% 15.7% FY22 FY23 FY24 FY25* H1FY26 FY22 FY23 FY24 FY25* H1FY26 Working Capital Analysis (in days) Net Debt to Equity 242 0.83 0.77 181 170 0.57 151 97 0.21 0.17 FY22 FY
Slide 12: Manorama's Unique Proposition
Manorama’s Unique Proposition
Slide 13: 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 Nearly 2 decades of rich Offers customer-centric Integrated capacity Huge industry demand of Uplift t
Slide 14: Company Overview
Company | Overview
Slide 15: Waste to Wealth Business Model
Waste to Wealth Business Model De-Oiled Cake Sells De-Oiled Revenues: Cake to Indian H1FY26 – INR Cattle Feed 282 million Industry India: Sal, Mango, Kokum & Mowrah Manufactures Extracts and Cocoa Butter Procure Exotic Processes Seeds Equivalent (CBE) Tree Borne Seeds at State-of-the-Art and Exotic
Slide 16: 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 Seed Collection Pre-Cleaning Deshelling Cleaning Seed Collection Total Sal Forest in
Slide 17: 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
Slide 18: 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) Byproducts / gums Refined butter Pal
Slide 19: 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 Contains Same Comparable Compatible in Fractionation Fractionated Fatty Acids & Physical & all Proportion of Exotic Ingredients Triglycerides Chemical with the Final Seeds Yiel
Slide 20: 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 Refinery Interesterification 45,000 MTPA 30,000 MTPA Integrated *Fractionation Extraction Plant Capacity 90,000 MTPA 40,000 MTPA Seed Milling Blending Station & Packing^ 90,000
Slide 21: 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 22: Building Capacities over a Period of Time
Building Capacities over a Period of Time The Journey Towards Building an Integrated Capacity Particulars FY21 FY22 FY23 FY24 FY25 CAGR Fractionation (TPA) 15,000 15,000 15,000 15,000 40,000 21.7% Revenues (in INR Crores) 203 279 351 457 771 39.7% Average Fixed Assets (in INR 54 56 76 113 152 29.5%
Slide 23: R&D Capabilities for Catering the Global CBE and Exotic Specialty Fats & Butter Demand
R&D Capabilities for Catering the Global CBE and Exotic Specialty Fats & Butter Demand Milcoa® Innovation & Research Center – Edge Amongst the Elite Spearheaded by Dr. Indian Companies Krishnadath Bhaggan, a accredited with the professional with 25+ esteemed DSIR years rich global industry DSIR Lead
Slide 24: New Product Launches and Developments
New Product Launches and Developments New Products New Developments Milcoa® Brand Range All-round filling fat (Milcoceam 1059) All-round filling fat (palm based) All-round filling fats (MilcocreamTM1056 and (Milcocream FF77) MilcocreamTM1010) Bake-stable filling fat (Milcocream 1068) Premi
Slide 25: 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
Slide 26: Our Global Membership & Certification
Our Global Membership & Certification Quest to be the Best: Wide Spectrum of Prestigious Certifications
Slide 27: Esteemed Clientele
Esteemed Clientele MANORAMA® o INDUSTRIES LIMITED VALUABLE CUSTOMERS G5)) VOREAL LUSH | FERRERO Mondeléz SHOP PARIS International MARS HERSHEY« | SS Nestle Cargill THE HERSHEY COMPANY SS ApDEKA fk FUJIOIL oders Croklaan o) SOYUZSNAB Gupsa Gsvonomest ee) Uniconf ISF : ste WJ Olam pladis — (6) Seeberg
Slide 28: Growth Strategy
Growth Strategy
Slide 29: Gearing up for the next wave of growth
Gearing up for the next wave of growth Capacity to Cater Growing Market Vigoured Operational CBE and Exotic Specialty Fats Launch Innovative Products Diversification Efficiencies & Butter Demand Commercialized new Deepening penetration to new R&D team continuous quest to Economies of scale, operatin
Slide 30: Our Global Reach
Our Global Reach We serve the world’s top food and beauty brands. Our logistics, documentation, and customer service are designed for seamless global collaboration. Government of India Recognized THREE STAR EXPORT HOUSE
Slide 31: Expanding our Geographical Footprints
Expanding our Geographical Footprints Manorama Savanna Limited, Nigeria Manorama Savanna Manorama Ghana Limited, Savanna Togo Sarl, Ghana One Subsidiary in One Subsidiary in Togo UAE Brazil Six Subsidiaries in Manorama Mena Manorama Africa Trading LLC Latin America LTDA Manorama Manorama Africa Burk
Slide 32: Global Partnerships
Global Partnerships Manorama & DEKEL Our Latin America Team Partnership For CBE & Specialty Fats Production In Brazil ➢ Manorama Industries has expanded its international footprint in Latin America through its wholly owned subsidiary, Manorama Latin America LTDA. The company has entered into a strat
Slide 33: MoUs Signed
MoUs Signed MoU Signed with the Burkina Faso’s Government for MoU signed with setting up a new factory The Government of Chhattisgarh ➢ The Company has signed an MoU with the Government ➢ Mr. Shri Deep Saraf, Vice President – Business of Burkina Faso to establish a new factory for Development at Man
Slide 34: Sustainable Business Practices
Sustainable Business Practices
Slide 35: Environmental Initiatives
Environmental Initiatives Environment ❑ Organized a program titled 'VANSAKHI' aimed at identifying and preparing selected delegates from among our seed collectors, to train villagers and fellow collectors on forest and wildlife conservation. ❑ No Deforestation, No Peat, No Exploitation policy public
Slide 36: Social Initiatives
Social Initiatives Social ❑ Honoured with the CSR Winner Award in the category of Rural Development and Promoting Renewable Sources of Energy by Greentech Foundation at the 11th Greentech CSR Awards held on 14th June 2025, for our CSR initiative focused on the installation of solar street lights in
Slide 37: Governance Initiatives
Governance Initiatives Governance ❑ Committed to UN Sustainable Development Goals & 10 Principles of 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 respons
Slide 38: Leadership Team & Management
Leadership Team & Management
Slide 39: Seasoned Board of Directors
Seasoned Board of Directors Ashish Saraf – Chairman & Managing Director Vinita Saraf - Vice Chairperson & Whole CA Ashok Jain - Whole Time Director & Experience : 33 Years Time Director Chief Financial Officer He has rich experience in the specialty fats and butters Experience : 21 Years Experience
Slide 40: Seasoned Board of Directors
Seasoned Board of Directors Mudit Kumar Singh - Independent Director Jose V Joseph - Independent Director Subhaprada Nishtala - Independent Director Experience : 38 Years Experience : 41 Years Experience : 25 Years A senior retired bureaucrat from 1984 Batch of the IFS, He retired as the Executive V
Slide 41: Experienced Management Team (1/4)
Experienced Management Team (1/4) Dr. Krishnadath Bhaggan - VP - R&D Product Appel Sten - VP – New & Existing Projects Development Degree in Chemical Engineering from Aalborg University Experience in R&D and Innovation for 22 yrs.+ He is an (DK) and has a vast experience in Edible Oil Industries as
Slide 42: Experienced Management Team (2/4)
Experienced Management Team (2/4) Thales Baptistella- Finance Manager at Brazil Marcelo Sasaki - Regional Sales Manager at Latam Brazil Latam He has Bachelor’s Degree in Business Administration & Logistics Graduated in Food Engineering from Unicamp University and a Master Degree in Accounting and Fi
Slide 43: Experienced Management Team (3/4)
Experienced Management Team (3/4) Mansoor Ali - Associate VP - HR Vishal Hotchand Narang - Director – Manorama Africa Limited He has over 30 years of rich experience in Manufacturing A seasoned MBA-qualified business leader with over 33 years Industry, specializing in Strategic HR as an HR Business
Slide 44: Experienced Management Team (4/4)
Experienced Management Team (4/4) Steffen Storgaard - Vice President – Europe Sales Jonas Bobou Bayoulou – Associate Vice President & General Coordinator Graduated from the University of Aarhus (DK) in Languages and Business, he has over 30 years of global leadership experience in A seasoned executi
Slide 45: Appendix
Appendix
Slide 46: Recent Awards & Accolades (1/3)
Recent Awards & Accolades (1/3) Shri Shrey Saraf – Whole Time Director, Manorama Industries receiving ‘Excellency Award ’ in collaboration with the Government of Chhattisgarh & Swadeshi Jagran Manch. Team “Nava Soch” from Manorama Industries Limited won the Gold Award in the Kaizen Category at CCQC
Slide 47: Recent Awards & Accolades (2/3)
Recent Awards & Accolades (2/3) 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 dwellers’ Award Shri. Ashish Saraf – Chairman and Managing Director and Shri Shrey Sa
Slide 48: Recent Awards & Accolades (3/3)
Recent Awards & Accolades (3/3) Mr. Deep Saraf – Vice President, Manorama Industries receiving ‘GLOBOIL INDIA 2025 Award’ for highest exports of Made in India CBE: Waste to Wealth & Women Empowerment for Global Market Shri. Ashish Saraf – Chairman and Managing Director and Smt. Vinita Saraf – Voce S
Slide 49: Client Testimonials
Client Testimonials Meet the Women of Manorama – Article Published on The Body Shop Website Article Published on Lush Website 48 Note: The Brand names mentioned are the property of their respective owners and are used here for identification purposes only
Slide 50: Shareholder Information
Shareholder Information Capital Market Data Shareholding Pattern September 2025 (%) Promoter MANORAMA / NSE Ticker /BSE Code 541974 39% FIIs Current Market Price 54% 1,541.3 MF (as on 16 Oct 2025) 4% 3% Other Market Cap (INR Crores) 9,011.8 (as on 16 Oct 2025) Share Price Movement (1 Year) 52 Week H
Slide 51: Thank You!
Contact Information Company : Manorama Industries Limited CIN: L15142MH2005PLC243687 THANK Ms. Ekta Soni Mr. Deepak Sharma Associate Vice President - IR Company Secretary & C Compliance officer E: ekta@manoramagroup.co.in E: investors@manoramagroup.co.in E: cs_sharma@manoramagroup.co.in M: +91 78791
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