Q4FY22 Quarterly Result Announced for Manorama Industries Ltd.
Food products company Manorama Industries declares Q4FY22 result: The Company's Employee costs increased as it has inducted employees at various key managerial positions to drive the business growth in the future. Other expenditures, which primarily include Processing/Job Working Charges, Freight and Logistics, and Packaging Expenses, among others, significantly increased due to the ongoing inflationary environment. The company attempts to offset the impact of inflation through calibrated price increases and cost-cutting initiatives and has reached an agreement with Transgraph to optimize the costs. The company was able to report a PAT of Rs. 241.5 million, an increase of 66% percent year on year. PAT margin for FY22 stood at 8.7% compared to 7.2% in FY21. Commenting on the results and performance, Ms. Vinita Saraf, Chairperson, and Managing Director Said: “I am very pleased to report that our company has maintained consistent performance throughout FY22. Despite the pandemic and the resulting supply chain challenges, the Company's operational excellence, constant focus on product innovation, and R&D; have contributed to its leadership position in the manufacturing, processing, and supply of exotic butters and specialty fats. We are happy to state that our perseverance and resilience have helped us not only get through these difficult times, but also achieve a healthy revenue growth of 38% year on year. Our revenue for the financial year ended March 31,2022 stood at Rs. 2,791 million, up from Rs. 2,026 million in the same time last year. Our EBITDA for the year stood at Rs. 389 million, representing a 12% increase year over year. Due to the current inflationary environment, our EBITDA margins stood at 14%. However, with corrective actions in place to address the near-term supply chain and cost challenges, we expect performance to improve further in FY23 and beyond. For FY23 the company expects to achieve a revenue of Rs.3,500 — 3,750 million and an EBITDA margin expansion of 100-200 bps. The Company’s ongoing capex is on schedule and is under different stages of implementation. This capex is expected to come on stream by Q3FY23. As on 31st March 2022 the company has spent Rs. 573.52 million on the same. Going forward, we will continue to serve the requirements and offer innovative solutions to our customers which in turn will drive valuable growth for them as well as our stakeholders.” Result PDF12-05-2022