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Manorama Industries H1FY20 financial results

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Manorama Industries H1 financial results of FY20. Post impressive numbers

Manorama Industries Ltd has released its financial results for the period starting April to September of the Financial Year 2020. The company is one of the market leaders to pioneer in the production of Cocoa Butter Equivalent (CBE). CBE  is used as a substitute for cocoa in chocolates. Globally the company is one of the lead manufacturers of Sal Oils and Stearine. The company has a global presence with markets in Japan, Italy, Malaysia, Indonesia and Singapore.

Financial results as of September 30, 2019

Manorama Industries reported a sharp increased in revenue for the period ending September 2019, which stood at Rs 95.34 crore. In comparison, during the same period of the previous financial year, the company’s revenue stands at Rs 37.69 crore. This shows a staggering increased in revenue by 153% YoY in H1FY20.

EBITDA for the six months period shows a 78% increase on a YoY basis which stood at Rs 26.15 crore. While if compared with the year-ago period EBITDA of H1FY19 is recorded at Rs 14.68 crore. 

Profit Before Tax (PBT) of Manorama also shows a steep growth for the period under H1FY20 which is reported at Rs 20.70 crore. The company PBT numbers as recorded in the year-ago period stood at Rs 12.36 crore. Manorama Industries achieved an overall increase of 67% YoY in PBT during the period of H1FY20.

With strong growth in earnings, Profit After Tax (PAT) also advances by 74% YoY during the half-yearly period of FY20. The company PAT stood at Rs 15.23 crore during the said period. PAT of Manorama Industries during the same period of the previous financial year stood at Rs 8.76 crore. 

Earnings Per Share (EPS) shows a decent growth of 20.63% during H1FY20. The company EPS for the period stood higher at Rs 13.68 crore in comparison to the EPS of the year-ago period which stood at Rs 11.34 crore. 

Manorama new manufacturing Plant

After the announcement of the financial results of H1FY20 Manorama Industries management gives an update on the new manufacturing plant located in Birkoni.

Image 1: Image is of Birkoni Plant taken on October 2019

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The management is pleased with the under developing new manufacturing plant in Birkoni, Raipur. The plant is still under development, and it will be completed in the planned time frame. However, a key section of the new plant under refinery has already started operation and has commenced production.

 

Image 2: Image is of Birkoni Plant taken on October 2019

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The management stated that Manorama is making good progress in the overall development of the company with its new strategic plans.

 

Image 3: Image is of Birkoni Plant taken on October 2019

 

Manorama plans on sustainable growth

The company is also investing in several new methods to provide more solutions for their existing and attaining new customers. The company is also focusing on reinvesting its capital, increasing their portfolio and push for higher growth of the company. Manorama Industries Limited is a listed company under BSE.

The company which is one of the global top player has deep knowledge in developing super speciality fats and Cocoa Butter Equivalent (CBE). CBE is used in chocolate, confectionery, and cosmetics globally. Manorama aimed at continuous growth which is the main goals of the company strategy. As for the company, continuous growth means focusing on overall benefits for stakeholders, global and local customers, Bankers, Investors, suppliers, employees, and the society in which the company operates.

As of January 13, 2020 Manorama stock trades the highest at Rs 364.90 and also close the day at Rs 364.90. This shows a gain of Rs 4.90 (1.36%) from the previous day closing price at Rs 360.00

Manorama Industries H1FY20 financial results. Post impressive numbers

MANORAMA INDUSTRIES. STRONG GROWTH POTENTIAL.

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