What we do Manorama Industries Ltd manufactures and exports exotic and specialty fats & butters for cocoa butter equivalents serving cosmetics, chocolate, and confectionery industries. |
Founded in 2,005 |
Market share #1 global processor and exporter of sal and mango-based specialty fats; recognized as Star Export House by the Government of India. |
Problem solved Provides quality, cost-effective cocoa butter equivalents that enhance shelf-life and functionality in tropical climates for food and cosmetic sectors. |
Top clients or who we serve Supplies Fortune 500 companies in confectionery, chocolate, bakery, cosmetics; B2B industry clients globally across Asia, Europe, Africa, Americas. |
Key management Ashish Ramesh Saraf (Chairman & Managing Director), Vinita Ashish Saraf (Vice Chairperson & Whole Time Director), Ashok Jain (Whole Time Director & CFO). |
Our journey and innovations Started in 2005 with sal seed extraction, evolved into specialty fats manufacturing, expanded capacity to 90,000 MTPA solvent extraction, multiple certifications. |
Where we operate India (Raipur base), exports to Japan, Italy, Malaysia, Europe, UK, Africa; subsidiaries in West Africa, UAE, Brazil expanding global footprint. |
Top products or what we offer Cocoa Butter Equivalents, sal butter, mango butter, kokum butter, specialty fats, de-oiled cakes, interesterified fats, fractionation products. |
Top brands Milcoa® innovation brand; MilcocreamTM and MilcospreadTM product lines tailored for confectionery and cosmetics (customized, high-margin specialty fats). |
Raw materials needed Exotic tree-borne seeds such as Sal, Mango kernel, Shea nuts, Kokum; raw seeds supplied by tribal networks and African subsidiaries. |
Raw materials supplier Supply sourced from tribal collectors in Indian forests and Manorama Africa wholly owned subsidiaries managing shea nut procurement. |
Recurring vs cyclical contribution Revenue is largely recurring from long-term contracts with multinational clients supported by steady supply chain integration. |
Our industry position Market leader in exotic specialty fats with robust backward integration and global certifications ensuring competitive moat and premium pricing. |
Financial highlights FY25 standalone revenue INR 789.4 Cr with PAT INR 112 Cr; strong Q3 FY26 growth with revenues at INR 363 Cr, 73% YoY increase. |
Geographical revenue split Domestic markets mainly Maharashtra & Gujarat; exports across Europe, Asia, Africa, Middle East, Latin America with increasing global share. |
Order book - |
Whats driving growth Rising global demand for cocoa butter equivalents, capacity expansions, product innovation, certifications, and penetration in confectionery and cosmetics sectors. |
Our future plans Capex of INR 460 Cr over 2-3 years to increase capacities including new plants for Cocoa Butter Alternative and solvent fractionation; geographic expansion in Africa, Latin America. |
Our green promise Sustainability through waste-to-wealth model empowering tribal communities, solar installations, carbon footprint reporting, and eco-friendly certifications. |
Our people and values 498 employees with emphasis on tribal empowerment, diversity, ethical sourcing, and meritocratic growth culture fostering innovation and quality. |
Key challenges ahead Raw material sourcing risks due to climatic and geopolitical factors, managing large-scale capacity expansion, and maintaining product quality consistency. |
Interesting facts Awarded India’s highest processor and exporter of minor oil seeds for 19+ years; first CBE producer to manufacture in Brazil via strategic partnership. |
Risks and strategy Mitigates procurement risks via diversified tribal sourcing and subsidiaries; focuses on R&D and client partnerships to sustain competitive advantage and innovation. |
