Small Chemicals

Manorama Industries Ltd.

MANORAMA

₹1438.9

1.25% (17.8)

Market Cap

₹8,641 Cr.

P/E

77.12

Manorama Industries Ltd.
Overview
Financials
Benchmarking
Shareholding

Manorama Industries Ltd.

Manorama Industries Ltd.
Overview
Financials
Benchmarking
Shareholding

Price
Growth Table
Balance Sheet
Profit & Loss
Cash Flow
Cash Flow Analysis
Ratios
Quarterly Results
Reverse DCF

FAQs on Manorama Industries Ltd. Shareprice

Has the share price of Manorama Industries grown faster than its competition?

Manorama Industries has given better returns compared to its competitors.
Manorama Industries has grown at ~93.9% over the last 3yrs while peers have grown at a median rate of 36.47%

Is Manorama Industries stock expensive?

Yes, Manorama Industries is expensive.
Latest PE of Manorama Industries is 77.12, while 3 year average PE is 75.01.
Also latest EV/EBITDA of Manorama Industries is 48.41 while 3yr average is 40.92.

View FAQ's On Business

Growth Table

Manorama Industries Ltd.
Gokul Agro Resources
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Sundrop Brands
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In %	1yr	2yr	3yr	4yr	5yr	6yr	7yr	8yr	9yr	10yr
Share Price CAGR	126	119	93.90	52.66	74.87	81.43	—	—	—	—
TTM EPS CAGR	176	93.27	66.28	54.26	—	—	—	—	—	—
Sales CAGR	68.64	48.24	40.30	39.66	—	—	—	—	—	—
PAT Margin (Abs Growth)	0.29	0.12	1.58	-3.62	-9.84	4.25	7.83	7.95	8.06	7.92
PE CAGR	-17.99	13.33	16.61	-1.04	—	—	—	—	—	—
CFO CAGR	-359	115	—	26.43	69.55	54.52	—	—	—	—

* Share price and PE growth are updated everyday. All other fields are as of latest financial year end. EPS adjusted for bonus and splits.

Balance Sheet

Manorama Industries Ltd.
Gokul Agro Resources
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Sundrop Brands
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Assets	19.88	22.15	46.18	133	289	254	396	424	737	985
Non Current Assets	3.22	3.05	4.44	35.79	62.69	71.40	115	149	176	194
Net Block	2.69	2.51	3.26	6.33	51.38	56.60	55.32	96.63	129	175
Capital Work in Progress	0.11	0.00	0.69	15.51	0.00	0.00	41.58	50.17	41.91	2.40
Intangible Assets Under Development	—	—	—	—	—	—	—	0.71	0.71	2.30
Long Term Investments	0.01	0.01	—	—	—	—	—	—	—	0.50
Current Assets	17.01	19.56	41.61	97.70	226	180	280	270	556	792
Inventory	5.51	1.90	18.03	37.00	150	123	181	158	389	549
Accounts Receivable	0.38	1.07	1.64	14.16	16.26	22.36	25.09	27.58	41.82	102
Short Term Investments	—	—	—	—	—	—	—	—	—	—
Cash & Bank Balances	10.18	15.74	19.12	42.39	36.37	17.41	53.04	59.94	87.54	96.18
Liabilities	19.88	22.15	46.18	133	289	254	396	424	737	985
Shareholders Funds	12.99	14.37	24.31	104	127	145	268	298	337	462
Share Capital	2.16	2.16	7.55	11.13	11.13	11.13	11.92	11.92	11.92	11.92
Reserves	10.84	12.21	16.76	92.80	116	134	256	286	324	450
Non Current Liabilities	-0.16	-0.34	0.37	0.14	0.94	17.67	32.92	30.11	56.76	49.98
Secured Loans	0.09	—	0.09	0.51	0.50	15.06	29.84	23.99	50.74	—
Unsecured Loans	—	—	—	—	—	—	—	—	—	42.85
Current Liabilities	7.05	8.12	21.50	28.83	161	91.48	94.62	96.00	343	473
Accounts Payable	1.52	7.17	1.03	1.47	32.99	7.40	8.15	4.04	40.14	14.31
Short Term Loans	4.66	0.01	17.82	23.50	119	69.69	73.46	80.44	285	438

Balance Sheet Snapshot

No data available.

Fund Flow Analysis

Increase
Decrease
Total

No data available.

*Data is as of latest FY end

Profit & Loss

Manorama Industries Ltd.
Gokul Agro Resources
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Sundrop Brands
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Sales	131	145	219	102	188	203	279	351	457	771
Operating Expenses	127	143	204	74.12	144	168	240	294	384	580
Raw Material	28.75	29.78	32.30	62.67	136	90.67	175	194	323	374
Seeds	28.75	29.78	32.30	62.67	131	89.14	149	173	302	—
Others	0.00	0.00	0.00	0.00	4.84	1.53	26.24	20.52	21.36	—
Chemicals	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—
Material Cost (%)	82.15	85.66	80.53	43.03	44.15	57.46	53.68	60.26	53.05	51.59
Employee Cost	2.49	2.98	2.99	3.50	6.91	7.52	9.64	12.82	19.53	47.92
Power & Fuel Cost	0.49	0.39	0.36	0.41	4.29	9.47	11.15	16.26	19.89	—
Operating Profit	3.65	2.76	15.73	28.28	43.85	34.66	38.94	56.45	73.52	191
Other Income	0.66	0.91	2.65	3.64	5.95	6.15	8.24	6.12	13.15	18.57
OPM (%)	2.79	1.90	7.17	27.62	23.29	17.11	13.95	16.09	16.08	24.78
Depreciation and Amortisation	0.86	0.82	0.71	0.81	7.66	7.96	7.89	10.85	13.61	22.13
Interest	1.78	0.80	1.75	4.55	9.77	10.49	5.77	8.66	19.89	39.16
Profit Before Tax	1.67	2.05	15.92	26.56	32.37	22.36	33.51	43.06	53.17	148
Tax	0.59	0.67	5.99	7.50	9.03	7.78	9.37	13.28	13.06	36.28
Net Profit	1.08	1.38	9.93	19.06	23.33	14.58	24.14	29.78	40.11	112
Number of shares(Crs)	—	—	0.77	1.11	1.11	1.11	1.19	1.19	5.96	—
Dividend Payout Ratio(%)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	8.01	5.94	—

TTM Values as of Mar 2025

Cash Flow

Manorama Industries Ltd.
Gokul Agro Resources
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Sundrop Brands
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash from Operating Activity	1.31	10.66	-11.28	-10.95	-60.08	33.49	-33.36	59.28	-153	-58.73
Profit Before Tax	1.67	2.05	15.92	26.56	32.37	22.36	33.51	43.06	53.17	148
Adjustments	1.52	0.68	1.43	2.32	14.59	16.42	12.13	16.50	28.66	69.55
OCF Before Working Capital	3.19	2.72	17.35	28.88	46.96	38.78	45.65	59.56	81.83	218
Working Capital Changes	-1.19	8.92	-25.24	-33.64	-102	3.29	-67.62	11.73	-220	-247
Taxes Paid	-0.69	-0.98	-3.40	-6.19	-4.79	-8.58	-11.39	-12.00	-14.95	-29.45
Cash from Investing Activity	-0.33	0.33	-0.85	-49.81	-9.99	10.88	-34.54	-99.47	-62.09	-33.99
Net Fixed Assets Purchased	-0.93	-1.08	-1.69	-21.17	-30.75	-4.44	-59.67	-51.18	-39.05	-31.53
Fixed Assets Purchased	-0.93	-0.54	-1.89	-24.28	-30.75	-4.44	-59.67	-51.31	-39.05	-31.68
Fixed Assets Sold	—	-0.54	0.20	3.10	0.00	—	—	0.14	—	0.15
Investment Purchased	—	—	—	—	—	—	—	-51.84	-29.32	-0.50
Investment Sold	—	—	0.10	0.03	17.99	13.00	23.13	—	—	—
Interest Recieved	0.60	0.87	1.43	-28.66	2.76	2.31	2.00	3.55	6.28	7.44
Dividends Recieved	—	—	—	—	—	—	—	—	—	—
Subsidiary Investments	—	—	—	—	—	—	—	—	—	—
Cash from Financing Activity	2.23	-5.44	15.51	62.50	85.27	-44.57	117	-7.12	214	92.79
Proceeds From Shares	2.27	—	—	57.10	—	—	99.39	—	—	—
Net Long Term Borrowings	-0.17	-0.09	-0.47	0.82	-0.12	14.83	19.32	-5.40	31.41	-7.98
Proceeds From Borrowings	—	—	0.09	0.95	0.40	15.24	18.50	12.38	35.54	3.64
Repayment From Borrowings	-0.17	-0.09	-0.56	-0.13	-0.51	-0.41	0.82	-17.78	-4.13	-11.62
Interest Paid	-1.22	-0.69	-1.84	-4.55	-9.63	-10.57	-5.78	-8.71	-19.86	-38.88
Dividend Paid	—	—	—	—	—	—	—	—	-2.38	-2.38
Net Cash Flow	3.21	5.55	3.39	1.74	15.19	-0.20	48.79	-47.31	-1.47	0.07
Opening Cash & Cash Equivalents	6.98	10.18	15.74	0.43	2.18	0.60	0.40	49.19	1.88	0.42
Effect of FX	—	—	—	—	—	—	—	—	—	—
Closing Cash & Cash Equivalents	10.18	15.74	19.12	2.18	17.37	0.40	49.19	1.88	0.42	0.49
Net Capex (est)	0.93	1.08	1.69	21.17	30.75	4.44	59.67	51.18	39.05	31.53
Free Cash Flow (est)	0.38	9.58	-12.97	-32.13	-90.83	29.06	-93.03	8.11	-193	-90.26

Cash Flow Analysis

Increase
Decrease
Total

No data available.

Ratios

= Dominant Factor

Manorama Industries Ltd.
Gokul Agro Resources
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Sundrop Brands
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	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Operational Ratios
Quick Ratio	1.62	1.63	2.18	1.10	2.11	0.47	0.62	1.04	1.17	0.49
Liquid Assets (Crs)	10.72	11.50	17.66	23.57	60.70	75.85	56.90	98.47	113	167
Current Liabilities (Crs)	6.63	7.05	8.12	21.50	28.83	161	91.48	94.62	96.00	343
Current Ratio	2.05	2.41	2.41	1.94	3.39	1.41	1.97	2.95	2.82	1.62
Current Assets (Crs)	13.59	17.01	19.56	41.61	97.70	226	180	280	270	556
Current Liabilities (Crs)	6.63	7.05	8.12	21.50	28.83	161	91.48	94.62	96.00	343
Interest Coverage Ratio	1.66	1.94	3.56	10.11	6.84	4.31	3.13	6.80	5.97	3.67
EBIT (Crs)	3.63	3.45	2.85	17.67	31.11	42.13	32.85	39.29	51.72	73.07
Interest Expenses (Crs)	2.19	1.78	0.80	1.75	4.55	9.77	10.49	5.77	8.66	19.89
Fixed Asset Turnover	24.41	20.99	21.11	29.40	9.11	2.94	3.14	3.93	2.85	2.70
Net Sales (Crs)	133	131	145	219	102	188	203	279	351	457
Fixed Assets (Crs)	5.43	6.24	6.89	7.46	11.24	63.94	64.56	71.10	123	169
Cash Conversion Cycle	17.20	8.80	-1.63	10.37	116	135	218	211	193	213
Inventory Days	14.43	11.67	9.30	16.59	98.08	181	246	199	176	218
Days Receivable	5.74	1.92	1.81	2.26	28.16	29.49	34.78	31.02	27.40	27.71
Days Payable	2.96	4.79	12.74	8.47	10.36	75.68	63.30	18.94	10.53	33.25
Debt to Equity Ratio	0.41	0.38	0.01	0.74	0.24	0.94	0.59	0.40	0.37	1.03
Total Debt (Crs)	4.00	4.92	0.11	17.95	24.45	119	85.35	108	110	346
Shareholders Equity (Crs)	9.64	12.99	14.37	24.31	104	127	145	268	298	337
Free Cash Flow/Sales (%)	7.12	0.29	6.58	-5.91	-31.38	-48.25	14.34	-33.33	2.31	-42.12
Free Cash Flow(est) (Crs)	9.44	0.38	9.58	-12.97	-32.13	-90.83	29.06	-93.03	8.11	-193
Net Sales (Crs)	133	131	145	219	102	188	203	279	351	457
Profitability Ratios
Gross Margin (%)	18.45	17.85	14.34	19.47	56.97	55.85	42.54	46.32	39.74	46.95
Op Profit Margin (%)	2.57	2.79	1.90	7.17	27.62	23.29	17.11	13.95	16.09	16.08
Operating Profit (Crs)	4.32	4.31	3.67	18.38	31.92	49.80	40.81	47.18	62.57	86.67
Net Sales (Crs)	133	131	145	219	102	188	203	279	351	457
Net Profit Margin (%)	0.71	0.83	0.95	4.53	18.61	12.40	7.20	8.65	8.49	8.77
Net Profit (Crs)	0.94	1.08	1.38	9.93	19.06	23.33	14.58	24.14	29.78	40.11
Net Sales (Crs)	133	131	145	219	102	188	203	279	351	457
ROCE (%)	37.27	26.91	20.28	71.61	29.90	32.87	20.23	13.05	15.75	18.56
EBIT (Crs)	3.63	3.45	2.85	17.67	31.11	42.13	32.85	39.29	51.72	73.07
Capital Employed (Crs)	9.75	12.83	14.03	24.68	104	128	162	301	328	394
Return on Assets (%)	5.75	5.44	6.21	21.51	14.34	8.08	5.74	6.10	7.02	5.44
Net Profit (Crs)	0.94	1.08	1.38	9.93	19.06	23.33	14.58	24.14	29.78	40.11
Total Assets (Crs)	16.38	19.88	22.15	46.18	133	289	254	396	424	737
ROIC (%)	65.37	70.20	-73.23	190	35.48	28.84	12.11	9.53	11.91	15.03
Op Profit after Taxes (Crs)	1.77	1.81	1.30	9.37	19.71	26.09	17.42	22.37	31.53	45.19
Invested Capital (Crs)	2.71	2.58	-1.78	4.94	55.55	90.47	144	235	265	301
ROE (%)	9.77	8.33	9.57	40.86	18.34	18.34	10.08	9.00	9.98	11.90
Net Profit Margin (%)	0.71	0.83	0.95	4.53	18.61	12.40	7.20	8.65	8.49	8.77
Asset Turnover ratio	8.09	6.59	6.57	4.75	0.77	0.65	0.80	0.71	0.83	0.62
Equity Multiplier	1.70	1.53	1.54	1.90	1.28	2.27	1.75	1.48	1.42	2.19
Adjusted EPS	0.31	0.29	0.36	2.63	3.43	4.19	2.62	4.05	5.00	6.73
Valuation Ratios
P/E	0.00	0.00	0.00	0.00	11.53	14.54	61.73	57.43	41.23	59.31
Price to Book	0.00	0.00	0.00	0.00	2.11	2.67	6.22	5.17	4.12	7.08
EV/EBITDA	-0.28	-0.72	-3.67	0.35	6.32	8.48	23.73	30.56	20.42	30.43
Dividend Yield (%)	—	—	—	—	0.00	0.00	0.00	0.00	0.19	0.10

Quarterly Results

Manorama Industries Ltd.
Gokul Agro Resources
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In Rs. Cr.	Sep'24	Dec'24	Mar'25
Net Sales	195	209	233
Operating Expenses	151	155	172
Increase/Decrease in Stock	2.01	0.61	4.63
Raw Material	104	98.23	110
Employee Cost	11.78	17.40	14.82
Selling and Distribution Expenses	0.00	0.00	0.00
Electricity, Power & Fuel Cost	0.00	0.00	0.00
Gen_AdminExpenses	0.00	0.00	0.00
Miscellaneous Expenses	0.00	0.00	0.00
Operating Profit	44.23	54.15	61.25
Other Income	3.49	3.91	9.52
Interest	7.78	10.94	11.96
PBDT	39.94	47.11	58.81
Depreciation and Amortization	5.61	6.00	6.40
Profit Before Tax	34.33	41.12	52.41
Tax	8.59	10.65	12.37
Profit After Tax	25.74	30.47	40.04
Exceptional Items	0.00	0.00	0.00
Net Profit	25.74	30.47	40.04
Quarterly Ratios
EPS	4.32	5.11	6.72
Operating Profit Margin	22.63	25.88	26.31
Net Profit Margin	13.17	14.56	17.20

Reverse DCF

Earnings

Discount Rate (%)

Terminal Multiple

5 YEAR

10 YEAR

20 YEAR

71.40%

Implied Growth Rate over a 5 year period*

27.00%

Implied Growth Rate over a 10 year period*

12.50%

Implied Growth Rate over a 20 year period*

*Implied Growth calculated using Newton-Raphson method.

Learn how to use Reverse DCF

FAQs on Manorama Industries Ltd. Financials

How strong is Manorama Industries balance sheet?

Balance sheet of Manorama Industries is strong.
But short term working capital might become an issue for this company.

Is the debt of Manorama Industries increasing or decreasing?

Yes, The net debt of Manorama Industries is increasing.
Latest net debt of Manorama Industries is ₹382 Crs as of Mar-25.
This is greater than Mar-24 when it was ₹172 Crs.

Is the profitablity of Manorama Industries improving?

Yes, profit is increasing.
The profit of Manorama Industries is ₹112 Crs for TTM, ₹40.11 Crs for Mar 2024 and ₹29.78 Crs for Mar 2023.

Does Manorama Industries pay decent dividends?

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Manorama Industries latest dividend payout ratio is 5.94% and 3yr average dividend payout ratio is 6.98%

How has Manorama Industries allocated its funds?

Companies resources are allocated to majorly unproductive assets like Inventory

View FAQ's On Shareholding

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Manorama Industries Ltd.

Manorama Industries Ltd.

Has the share price of Manorama Industries grown faster than its competition?

Is Manorama Industries stock expensive?

How strong is Manorama Industries balance sheet?

Is the debt of Manorama Industries increasing or decreasing?

Is the profitablity of Manorama Industries improving?

Does Manorama Industries pay decent dividends?

How has Manorama Industries allocated its funds?

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