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Manorama Industries Limited IPO (Manorama Industries IPO) Detail

Sep 21, 2018 - Sep 25, 2018

Incorporated in 2005, Mumbai based Manorama Industries Limited is a company engaged in the business of manufacturing, processing and supply of exotic and specialty fats & oils like Sal butter, Sal fat, Sal oil, Sal Stearine, Sal olein, Mango butter, Mango fat, Mango oil, Mango Stearine, Kokum butter, Kokum oil, Mowrah fat, and other tailor-made products. It majorly caters to the chocolate and cosmetic industry.

With an annual production of 3,000-4,000 tonnes, the company is one of the leading manufacturers of Sal Oils and Stearine globally. It is also one of the top 10 manufacturers of Stearine.

Manorama Industries has partnered with one of the leading chocolate manufacturers for supply of CBE for a 2 year period starting 2018. Currently, it has an order book to supply CBE worth Rs. 7680.00 lakhs.

The company has been recognized as a Star Export House by Government of India. Internationally, it supplies its products to Japan, Italy, Malaysia, Germany, Sweden, Denmark, Indonesia, Singapore, Netherlands, and the UK.

Some of the major customers of the company include global chocolate/ CBE manufacturers like Ferrero (Italy), Ferrero (India), Mitsui (Japan), Unigra (Italy), Walter Rau (Germany), Adeka Corporation (Japan), Olvea Vegetable Oils (France), etc. The company has also entered into an agreement with The Body Shop International Ltd. (U.K.) for the supply of Mango Butter.

From 2013-14 to 2017-18-

-Total revenue has grown from Rs. 10,532.50 lakhs to Rs. 22,189.33 lakhs, at a CAGR of 20.46%.

-EBITDA has grown from Rs. 462.26 lakhs to Rs. 1,851.48 lakhs, at a CAGR of 41.43%.

-PAT has grown from Rs. 89.62 lakhs to a profit of Rs. 1,035.56 lakhs at a CAGR of 84.29%.

The Company is in the process of setting up an integrated manufacturing facility at Raipur, Chattisgarh to carry out its entire manufacturing operations under one roof. The facility will have a capacity of around 11,250 tonnes p.a. of specialty fats and CBE.

The company has 66 permanent employees on its payroll.

Competitive Strengths-

1. A robust network of raw material suppliers across Chhattisgarh, Odisha, Jharkhand and Madhya Pradesh etc., with over 18,000 collection centers

2. Large global businesses as customers with a history of repeat orders

Investor Presentation

Company Promoters:

The Promoter of the Company is Vinita Saraf. She holds 27,73,680 aggregating to 35.91 % Pre Issue paid up equity capital.

Company Financials:

Summary of financial Information (Restated)
Particulars For the year/period ended (in Rs. Lakhs)
31-Mar-18 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14
Total Assets 4,676.47 2,260.94 2,022.82 1,659.75 2,120.32
Total Revenue 22,189.33 14,638.20 13,169.45 13,343.50 10,532.50
Profit After Tax 1,035.56 137.52 108.21 94.16 89.62

Objects of the Issue:

The objects of the issue are-

1. Establishing an integrated Greenfield project for manufacturing of CBE / specialty fats and tailor-made products
2. General corporate purposes.

Manorama Industries IPO Details
Issue OpenSep 21, 2018 - Sep 25, 2018
Issue TypeBook Built Issue IPO
Issue Size3,404,400 Eq Shares of Rs 10
(aggregating up to Rs 64.00 Cr)
Face ValueRs 10 Per Equity Share
Issue PriceRs 181 - Rs 188 Per Equity Share
Market Lot600 Shares
Min Order Quantity600 Shares
Listing AtBSE SME

Manorama Industries IPO Prospectus

Manorama Industries IPO Rating

71
3.1
Rating:Rated 3.1 stars

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Manorama Industries IPO Reviews / Ratings

Company Contact Information

Manorama Industries Limited
Office No 403, 4th Floor,
Midas, Sahar Plaza, Andheri Kurla Road,
Andheri East, Mumbai- 400059
Phone: 022-67088148
Fax:
Email: investors@manoramagroup.co.in
Website: http://www.manoramagroup.co.in

Manorama Industries IPO Registrar

Link Intime India Private Ltd   »  Report
   Link Intime India Private Ltd,
   C-13 Pannalal Silk Mills Compound,
   LBS Marg, Bhandup West, Mumbai 400078

Phone: +91-22-25963838
Fax: +91-22-25946969
Email: manorama.ipo@linkintime.co.in
Website: http://www.linkintime.co.in

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Manorama Industries IPO Review / Comments

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15. AnkurGoel  Sep 24, 2018 13:34 I Like It. | Report Abuse Reply
IPO Mentor IPO Mentor (900+ Posts, 800+ Likes)
I am not sure what was the message posted by WhistleBlower? But if it is true that company threaten chittorgarh then it is definitely avoid.
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14. IPOMantra  Sep 23, 2018 19:43 I Like It. 2 | Report Abuse Reply
Why whistleblower message removed, please explain Admin chittorgarh.
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14.1. Administrator  Sep 24, 2018 09:52 I Like It. | Report Abuse
Dear Sir,

We have to remove the message as company has sent us a legal notice and said they have filed a FIR regarding this.

Team Chittorgarh.com

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avatar
13. GrowYourMoney  Sep 23, 2018 21:38 I Like It. 1 | Report Abuse Reply
This IPO created huge trust deficit...
Very unfortunate incident....
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12. GrowYourMoney  Sep 23, 2018 21:18 I Like It. 1 | Report Abuse Reply
Something is there which clearly signaling to avoid the IPO...
Best way to dealt with..
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11. Grow up  Sep 23, 2018 17:41 I Like It. 4 | Report Abuse Reply
This message has been removed by a moderator.
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10. Girishbhai  Sep 20, 2018 18:02 I Like It. | Report Abuse Reply
I just started in this. What does it mean by long term?
2 to 3 years or more?
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9. 📞📞📞 IPO CALLING 📞📞📞  Sep 20, 2018 16:32 I Like It. 1 | Report Abuse Reply
Big big avoid
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8. VIE  Sep 16, 2018 01:47 I Like It. 7 | Report Abuse Reply
Top Contributor Top Contributor (400+ Posts, 500+ Likes)
PARTICULAR=====POST=====PRE
EPS=============9.31=====13.72
NAV=============79.73=====32.75
RONW===========11.67=====41.89
DE===============0.25=====0.89
EBIDTA MARGIN====8.34======8.34
PAT MARGIN=======4.67======4.67
PE==============20.19======13.7
P/BV=============2.36=======5.74
MC/SALES========0.94=======0.64
EV/EBITA=========13.52======9.89
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7. FUNDINGTOUCH  Sep 15, 2018 08:50 I Like It. 1 | Report Abuse Reply
Read in DRHP page no 246 to 249 group co litigation ., after read this 4 pages of DRHP take it decision.co asking for @20 PE it's too high majority revenue come from trading business.AVOID AVOID AVOID
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6. IpoNewbie  Sep 15, 2018 08:27 I Like It. 2 | Report Abuse Reply
Even if books are cooked for last year.
Will definitely buy after it lists and price is reasonable.
Worth to invest for long term.
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5. CPHArun  Sep 15, 2018 01:43 I Like It. 3 | Report Abuse Reply
I don't doubt the revenue or increased profit in last year due to their deal with Body Shop. Body Shop has 3000+ stores all over world and they are really profitable. Also Mango butter is a key product. So, Manoram industries has lot of things going for it.

This company has no direct litigation pending against it but other promoter company has got spate of things pending in court.

If someone can provide clarity on how they could affect this industry that would be good. Business wise this is a must apply. Only question mark is outstanding group promoter litigations..
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4. SME BADSHAH  Sep 14, 2018 22:26 I Like It. 3 | Report Abuse Reply
Shriniwas Sir,
Good observation & Reading.Please keep posting for all the SME IPO so that we can get good knowledge. Surprising how can any L.M can bring issue which is having so much of Litigation's & claims. People should read thoroughly the DRHP before investing in any issue.Only last year before bringing IPO there is sudden jump in profits.
It's a BIG AVOID.
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3. Naveen Batra  Sep 14, 2018 12:43 I Like It. 5 | Report Abuse Reply
If we are positive for our business, then why we are holding only 35% stake ???
Lead Manager had launched PMS for such SME IPO recently and to do work .........

Rest is your luck !
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2. GrowYourMoney  Sep 13, 2018 17:06 I Like It. 1 | Report Abuse Reply
Sudden spike in Profit raise the concerns
Being such a grand old Co it took IPO year to perform
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1. Jagdish master  Sep 13, 2018 14:29 I Like It. 4 | Report Abuse Reply
Post ipo Equity 11.12cr & EPS Post IPO 9.30 Rs per share IPO @180-188 Rs per share it's 20 PE Multiples & raise approx 64cr. Sudden PROFIT JUMP from 2016-17 - 1.38 Cr to 10.36Cr in 2017-18 is approx 10 Times is looks like cooked balance sheet before IPO and out of 221cr Turnover already 162cr trading Turnover and inventories increased 20 Times from 1.90cr to 18cr in 2017-18 .
BIG AVOID .
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