Manorama Industries Limited — Important, 21-01-2025: General Updates

**Financial Highlights:** Manorama Industries achieved Q3 FY25 revenue of ₹2,092 million, a remarkable 112.5% increase year-on-year, attributed to robust demand for specialty fats and the new fractionation facility's output. EBITDA more than doubled to ₹552 million, reflecting a growth of 253.4% and an impressive margin expansion to 26.4%. PAT surged by 296.8% to ₹295 million, with a PAT margin of 14.1%. For the 9-month FY25, revenues reached ₹5,380 million, up 64.2% YoY.

**Strategic Initiatives and Growth Drivers:** The company has entered six new subsidiaries in Africa and one in the UAE to bolster procurement and customer reach. The focus on forward and backward integration includes plans for cocoa butter equivalent manufacturing and new seed processing facilities, enhancing production capabilities.

**Business Developments:** Manorama continues its commitment to sustainability and quality, being the world's leading exporter of specialty fats derived from diverse seeds.

**Market Position and Competitive Advantage:** The strong positioning in niche markets is complemented by industry-leading suppliers, fostering a competitive edge through scalable operations and diverse sourcing.

**Investor Implications:** Positive outlook as Manorama is on track to surpass its FY25 revenue target of ₹750 crore. Continued expansion and operational efficiencies present significant growth opportunities, making it an attractive proposition for investors.