1 Rs 2,000 Per Share To Split Into 5 New Shares; FMCG Fixed Record Date, 930% Returns In 5 Years

Manorama Industries, engaged in the food products business, zoomed by 10% in a single day after it announced stock sub-division in the range of 1:5. On Friday, the stock price ended at Rs 2,021.70 apiece, up by 8.63% on BSE. The company has also fixed its record date for determining eligible shareholders for the stock split rewards.

The stock's 52-week high and low is at Rs 2,399.95 and Rs 926 apiece. From its 1-year lows, the stock is currently up by 118.3% on BSE. In 5 years, the stock has skyrocketed by 929.77%.

Manorama Industries Stock Split:

As per the regulatory filing, the company y has fixed Friday, March 08, 2024 as the "Record Date" for determining entitlement of Equity Shareholders for sub-division/stock split of existing Equity Shares of the Company, such that 1 (one) equity share having face value of Rs. 10/- (Rupees ten only) each, fully paid-up, will be sub-divided into 05 (five) equity shares having face value of Rs. 2/- (Rupee two only) each, fully paid-up.

Hence, the stock will also turn ex-split on March 8.

Manorama Industries Results:

Revenues during 9M FY24 stood at INR 3,277.5 Mn registering a growth of 31.6% YoY. The Company experienced improved realisations and enhanced demand in domestic and export markets of Russia, Latin America, Japan and Europe. EBITDA during 9M FY24 grew by 32% YoY at INR 527.5 Mn; the EBITDA margin for the period stood at 16.1%. PAT during 9M FY24 grew by 39.6% YoY to INR 276 Mn; PAT margin expanded by 48 bps YoY to 8.4%.

Looking ahead, e, President of Manorama Industries, Ashish Saraf said, "We have strategically built inventory due to seasonal procurement of Shea Nuts, Sal Seeds and Mango kernels, resulting in increased finance costs attributed to higher working capital. The expanded fractionation capacity positions us to meet growing customer demand, reinforcing our position in the global CBE and speciality butter and fats industry. This added capacity is expected to drive incremental sales and profitability."

Further, Saraf added, "We are actively working to accelerate our growth momentum. Exploring opportunities to deepen our presence in existing geographies, the Company is considering establishing entities in Russia, Latin America, UAE and other markets. Furthermore, leveraging our expertise in the Chocolate & Confectionery industry, we are evaluating diversification into manufacturing real chocolate, super compound slabs, compound chocolate, and specialty cocoa products for both Indian and global markets."

About Manorama Industries:

Established in 2005, MIL is a global pioneer in manufacturing speciality fats & butters and exotic products. The Company has carved a niche in manufacturing Sal CBE & Stearin, Shea CBE & Stearin, Mango CBE & Stearin and other exotic fats & butter. MIL offers customized solutions to Fortune 500 companies in chocolate, confectionery and cosmetic industry.

The Company's R&D thrust and quality focus has propelled MILCOA Research & Development Centre laced with several Global certifications. Over the years, the Company has bagged over 50 International and National awards for its unique business model and playing a pivotal role in empowering communities and its contribution to nation-building.

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