Manorama Industries Ltd. · NSE:MANORAMA
Manorama Industries — Q4 FY26 Earnings Presentation
52 slides from Manorama Industries's earnings presentation, May 11, 2026
Slide 1: Cover letter to exchanges: Investor Presentation on Annual Audited Results
b Manorama Industries Limited KHASRA No. - 2449-2610, Parswani Road, Near Birkoni Industrial Area, May 11,2026 Mahasamund (C.G.)- 493445 To, To, The Manager The Manager, Listing Department Listing Department BSE Limited (“BSE”) National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, (“NS
Slide 2: Investor Presentation Q4 & FY26
Manorama Industries Limited Investor Presentation Q4 & FY26 May - 2026 Empowering Sustainability
Slide 3: Safe Harbor
Safe Harbor This presentation contains selected information about the activities of the Company and its subsidiaries as at the date of this presentation, unless otherwise specifically mentioned. The information in this document has been collected with the purpose to provide interested parties with i
Slide 4: Table of Contents
01 02 03 04 Q4 & FY26 Manorama’s Niche Financial Unique Business Growth Highlights Strategy Table of Proposition Model Contents 05 06 07 Sustainable Leadership & Appendix Business Management Practices Team
Slide 5: Q4 & FY26 Financial Highlights
Q4 & FY26 Financial Highlights
Slide 6: Sustaining Momentum Amid Global Volatility
Sustaining Momentum Amid Global Volatility “Manorama Industries has once again delivered a sustainable performance during FY26. The Company achieved revenues of INR 1,358 Crores, reflecting a year-on-year growth of 76.1%. This underscores the sustainable demand for our products across the Food and c
Slide 7: Financial Snapshot
Consistent Sustainable Performance EBITDA (in INR Mn) PAT (in INR Mn) Revenue (in INR Mn) & EBITDA Margin (%) & PAT Margin (%) Financial Snapshot 3,823 27.4% 26.9% 18.2% 15.6% Q4 FY26 1,029 2,328 595 639 423 64.2% YoY 61.0% YoY 40.8% YoY Q4FY25 Q4FY26 Q4FY25 Q4FY26 Q4FY25 Q4FY26 EBITDA (in INR Mn) P
Slide 8: Consistent Multi Year Growth Backed by Execution
Consistent Multi Year Growth Backed by Execution Historical Quarterly Trend 5,000 30.0% 26.4% 27.4% 27.3% 27.1% 27.1% 26.9% 4,500 23.1% 25.0% 4,000 20.1% 3,500 3,823 3,625 20.0% 16.1% 3,233 3,000 2,500 2,896 15.0% 2,000 2,328 1,954 2,092 10.0% 982 1,029 1,500 790 877 1,000 1,293 1,334 552 639 452 5.
Slide 9: Key Performance Metrics (1/2)
Key Performance Metrics (1/2) Revenue (in INR Millions) EBITDA (in INR Millions) & EBITDA Margin (%) 24.8% 27.1% 13,577 14.0% 16.1% 16.1% 3,677 7,708 4,571 1,911 3,508 2,791 565 735 389 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 PAT (in INR Millions) & PAT Margin (%) Earnings Per Share (in IN
Slide 10: Key Performance Metrics (2/2)
Key Performance Metrics (2/2) Return on Equity Return on Capital Employed 40.3% 33.0% 33.6% 24.3% 18.5% 15.7% 13.0% 10.0% 11.9% 9.0% FY22 FY23 FY24 FY25* FY26 FY22 FY23 FY24 FY25* FY26 Working Capital Analysis (in days) Net Debt to Equity 242 0.83 0.77 181 170 151 125 0.38 0.21 0.17 FY22 FY23 FY24 F
Slide 11: Strong Q4 Momentum Caps FY26 Performance
Strong Q4 Momentum Caps FY26 Performance Particulars (INR Millions) Q4FY26 Q4FY25 YoY Q3FY26 QoQ FY26 FY25 YoY TotalIncome grew by 76.1% Revenue 3,823.0 2,328.1 64.2% 3,625.4 5.5% 13,577.0 7,708.4 76.1% YoY to INR 13,577 million in Cost of Goods Sold 2,143.6 1,151.3 86.2% 2,021.1 6.1% 7,429.6 3,97
Slide 12: Balance Sheet
Balance Sheet Equity and Liabilities (INR 31st March 31st March 31st March 31st March Assets (INR Millions) Millions) 2026 2025 2026 2025 Share Capital 119 119 Non-Current Assets Other Equity 6,829 4,500 Plant, Property and Equipment 1,924 1,746 Total Equity 6,949 4,619 Capital Work in Progress 182
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 Built the business over Offers customer-centric Integrated capacity Sustainable Waste-to- Strong unde
Slide 15: Niche Business Model
| Niche Business Model Dy. w. ’ ae. « eo” Za
Slide 16: Waste to Wealth Business Model
Waste to Wealth Business Model Sells De-Oiled Cake to Indian Cattle Feed Industry India: Sal, Mango, Kokum & Mowrah Manufactures Cocoa Butter Extracts and Procure Exotic Equivalent (CBE) Processes Seeds Tree Borne Seeds and Exotic at Birkoni Plant Specialty Fats Africa: Shea and Butter Proximity of
Slide 17: 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 18: Sound Supply Chain Network
Sound Supply Chain Network India – Sal Seed Collection Process Scattered Seed Collection Pre-Cleaning Deshelling Cleaning Seed Collection Seeds in Forest by Tribal at Purchase Bed Women Centre Africa – Shea Seed Collection Process Nuts Picked by Boiling & Deshelling Manorama Manorama Shea Seeds at T
Slide 19: CBE and Exotic Specialty Fats & Butter – Winning Proposition
CBE and Exotic Specialty Fats & Butter – Winning Proposition CBE - Winning Case Factors Contains Same Comparable Compatible in Fractionation Fractionated Fatty Acids & Physical & all Proportion of Exotic Ingredients Triglycerides Chemical with the Final Seeds Yields Blended without as Cocoa Qualitie
Slide 20: End-to-end processing capabilities within a single manufacturing ecosystem
End – to – end processing capabilities within a single manufacturing ecosystem Refinery 45,000 MTPA Integrated *Fractionation Extraction Plant Capacity 90,000 MTPA 47,500 MTPA Seed Milling Packing 30,000 MTPA 90,000 MTPA * Fractionation capacity of 25,000 MTPA commercialized from July 2024 onwards &
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 FY22 FY23 FY24 FY25 FY26 Capacity Addition Annum) Seed Milling (Expeller) 60,000 60,000 90,000 90,000 90,000 Added 30,000 TPA in FY24 Solvent Extraction Plant - 90,000 90,000 90,000
Slide 22: Building Capacities over a Period of Time
Building Capacities over a Period of Time The Journey Towards Building an Integrated Capacity Particulars FY22 FY23 FY24 FY25 FY26 CAGR* Fractionation (TPA) 15,000 15,000 15,000 40,000 47,500 33.4% Revenues (in INR Crores) 279 351 457 771 1,358 48.5% Average Fixed Assets (in INR 56 76 113 152 184 34
Slide 23: Our Global Membership & Certification
Our Global Membership & Certification Wide Spectrum of Prestigious Certifications
Slide 24: Esteemed Clientele
Esteemed Clientele The Body Shop L’Oreal Paris Lush Ferrero Mondelez International Mars The Hershey Company Nestle Barry Callebaut Slavyanka Bunge Cargill EFKO Group Soyuzsnab ADEKA Loders Croklaan Jagston Trading Fuji Oil LipSa Beyond Meat Uniconf Limited Ülker Olam Menguy’s Pladis Walter Rau Seebe
Slide 25: Growth Strategy
Growth Strategy
Slide 26: Gearing up for the next wave of growth
Gearing up for the next wave of growth Capex Plan* focused on expanding forward-integrated Market Vigoured Operational Launch Innovative Products specialty fat capacities in Diversification Efficiencies India Manorama has outlined a ~₹460 crore Deepening penetration to new R&D team continuous quest
Slide 27: Capex Plan: Charting a Growth Roadmap
Capex Plan: Charting a Growth Roadmap Capex Plan Capacity Total Proposed Particulars Integration Type Location (in MTPA) Capex Outlay Setting up manufacturing facility for Cocoa Butter 75,000 Forward India Alternative (CBA) Setting up of new Solvent Fractionation manufacturing facility for Sal, Shea
Slide 28: 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 Seven Subsidiaries in Manorama Mena Manorama Manorama Africa Manorama Africa Trading LLC Latin America Burkina
Slide 29: 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. UKRAINE AUSTRIA OMAN Government of India Recognized TAANG KAAM INDUSTRIES, SA, THREE STAR EXPORT HOUSE Burkina Faso
Slide 30: 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 31: 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 Indian Companies accredited with the Spearheaded by Dr. esteemed DSIR Krishnadath Bhaggan DSIR Leadership Certification Certification from the Government of
Slide 32: R&D Enabled DSIR Certified Lab
R&D Enabled DSIR Certified Lab Glimpse of Latest R&D Enabled Processes in DSIR Certified Lab
Slide 33: Sustainable Business Practices
Sustainable Business Practices
Slide 34: Environmental Stewardship Through Circular Practices
Environmental Stewardship Through Circular Practices 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
Slide 35: Social Impact Integrated with Supply Chain Development
Social Impact Integrated with Supply Chain Development Social ❑ Supported “Shaurya Marathon – 2026” Program organized by Ex – servicemen service organization, mahsamund in the occasion of SHAHID DIWAS on 22nd March 2026 ❑ M-TAP (Manorama Tribal Empowerment Program) includes an annual training and aw
Slide 36: Strong Governance Supporting Long Term Value Creation
Strong Governance Supporting Long Term Value Creation 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
Slide 37: Leadership Team & Management
Leadership Team & Management
Slide 38: Seasoned Board of Directors
Seasoned Board of Directors Ashish Saraf - Chairman & Managing Director Vinita Saraf CA Ashok Jain Gautam Pal Mudit Kumar Singh Shrey Saraf Vice Chairperson Whole Time Director & Whole Time Director Independent Director Whole Time Director & Whole Time Director Chief Financial Officer Subhaprada Nis
Slide 39: Experienced Management Team (1/3)
Experienced Management Team (1/3) Dr. Krishnadath Bhaggan – Appel Sten – Thales Baptistella Deputy CEO – VP – New & Existing Projects Finance Manager Business Development & at Brazil Latam Vice President – R&D Mauro Sérgio Nobre Terreri – Rossana Bento Cabral Deep Saraf – VP – Fats & Oils business M
Slide 40: Experienced Management Team (2/3)
Experienced Management Team (2/3) Marcelo Sasaki Nisha Sharma - Manager – Regional Sales Manager Yogendra Puri Goswami International Sales at Brazil Latam VP – Sales & Business Development Sandeep Agrawal Chandan Gupta Gundam Sreenivasula Reddy Chief Operating Officer Vice President - Sales General
Slide 41: Experienced Management Team (3/3)
Experienced Management Team (3/3) Jonas Bobou Bayoulou Pankaj Rathi Associate Vice President DGM Accounts & Finance & General Coordinator Ekta Soni CS Deepak Sharma Associate Vice President - IR CS & Compliance Officer
Slide 42: Appendix
Appendix
Slide 43: Recent Awards & Accolades (1/4)
Recent Awards & Accolades (1/4) Mr. Deep Saraf – Felicitation by Governor of Vice President, Chhattisgarh Shri Raman Manorama Industries Deka to Mr. Deep Saraf receiving ‘GLOBOIL and Mr. Shrey Saraf, INDIA 2025 Award’ Manorama industries for highest exports of Limited for supporting the Made in Indi
Slide 44: Recent Awards & Accolades (2/4)
Recent Awards & Accolades (2/4) Shri. Ashish Saraf – Chairman and Managing Director, Manorama Industries awarded as ‘The Highest Processor of Sal Seed & Mango Kernel, and Highest Processor of Sal Oil (Fats). Shri. Ashish Saraf – Chairman and Managing Director and Smt. Vinita Saraf – Vice Shri. Ashis
Slide 45: Recent Awards & Accolades (3/4)
Recent Awards & Accolades (3/4) Shri. Ashish Saraf – Chairman and Managing Director and Shri Supported Global Food regulatory Participated in RSPO RT 2025 conference Shrey Saraf – Whole Time Director, Manorama Industries awarded Summit organized & the General Assembly organized in Kuala with ‘Highes
Slide 46: Recent Awards & Accolades (4/4)
Recent Awards & Accolades (4/4) Shri. Ashish Saraf – Chairman and Shri Shrey Saraf – Managing Director, Manorama Whole Time Director, Industries awarded as ‘TWO Manorama Industries EXPORT EXCELLENCE receiving ‘Excellency AWARDS’ under the category Award ’ in collaboration Highest Foreign Exchange Ea
Slide 47: 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 48: Global Partnerships
Global Partnerships Manorama & DEKEL Our Latin America Team Partnership For CBE & Specialty Fats Production In Brazil DEKEL ➢ 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
Slide 49: 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 of Burkina Faso to establish a new factory for processing Shea ➢ Mr. Shri Deep Saraf, Vice President – Business Nu
Slide 50: Client Testimonials
Client Testimonials Meet the Women of Manorama – Article Published on The Body Shop Website Article Published on Lush Website 49 Note: The Brand names mentioned are the property of their respective owners and are used here for identification purposes only
Slide 51: Shareholder Information
Shareholder Information Capital Market Data Shareholding Pattern March 2026 (%) Promoter MANORAMA / NSE Ticker /BSE Code 541974 39.79 FIIs Current Market Price 54.32 1,576.20 MF (as on 08 May 2026) 3.00 Other Market Cap (INR Crores) 2.89 9,411.25 (as on 08 May 2026) Share Price Movement (1 Year) 1,8
Slide 52: 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