Manorama Industries, one of the leaders in Specialty Butters, Fats and Cocoa Butter Equivalents (CBE) announced its results on 29 June where it announced a yoy revenue increase of 83.83%, EBITA increase of 55.99% and PAT increase of 22.43%.
On an H2 comparison basis, while its revenue increased by 37.65%, the PAT saw a decline of 21.29%. As stated by the management in the release uploaded on the exchanges they are confident that in FY20-21 their operations will be smooth and they anticipate an increase in production and revenue that will set off the increased costs.
Commenting on the performance, Vinita Saraf, Managing Director says” We are tapping growth opportunities and the positive performance during this year was led by a strong growth in sales. The Bikroni plant has started full commercial production of all its units including the key process of fractionation. We are also in the process of considering making our Africa venture a wholly owned subsidiary of the company.
Vinita Saraf added, “the company’s in house research and development operations has been recognised by the Department of Scientific and Industrial Research of the GOI. On the impact of the ongoing COVID crisis, prior to April 18, 2019 there were hiccups in the production and rescheduling of scheduled dispatches of finished goods post which necessary permissions, approvals and precautions were taken and the Bikroni plant in its limited capacity and manpower is taking care of pending requirements with no impact on the supply chain. We are exercising caution and looking at minimizing costs.”