Annual Report for the Financial Year 2025-26.

Manorama Industries Limited K.HASRNAo -.2 449-2610, ParsRwoaanNdie, a r Augu2s72t,0 26 BirkIonndiu Asrterai,a l To, To, Mahasa(mCu.nG4d.9 )3-445 ThMea nager ThMea nager Listing Department LisDteipnagr tment BSEL imi(t"eBdS E"), NatiSotnoaEclxk c haonfIg ned ia Limited ("NSE"), PhirJoezeej eTeobwheorys , ExchaPnlgaPezl aNo,ot C. / G1B ,l ock, DalSatlrF eoertt,, BandraC-oKmuprlBleaaxn ,d( Eraas t), Mumb4a0i00 0 1 Mumb4a0i00 5 1 BSESc rCiopd 5e4:1 974 NSE SyMmAbNoOlR:A MA ISIINN:E 00VM01036 ISIINN:E 00VM01036 Subj:e cItn tegArnantueRadel p ofrotr Ftihnea nYceia2ar0l 2 5a-n2Nd6o toifct he2e s1 t Annual MGeeenteoirfMna agln orIanmdatu rsiLeimsi (t"etCdho em pany"). De aSrira/dMam, Withr feerencet oc aptisounbjeeadcn tpdu r suatnoRt e guoln3a 0ta in3d4 (1o)fth eS EBI( Listing Obliagtnsia ondD isclRoesquurier eRmeegnutlsa20)t1 i5po,ln esfia,ns eden csle hoderewtih2te h I AnnuReapoltro fM anor IanmdtaursLiiemsei dfotr thfien anci2a0l2 5ya-en2Nad6or t ciocnev etnhien g 211 'AnnuGaelnr ae Mleetisncgh leedtduob eheoln dM ony d,Saeepmtbr 2e,12 20,6 atP .3M(:.1T0 S )0 trhuoghV idCeonofer neci(n"CgV" / O)thAeudroi V-isMueaal"n OsA(VM "). l nter om ftshe reuiqreenmtosfR egualti3o4n( 2o)ft( h fSe)E B(IL igsO tbilnigaantdDi iosncsl osure RequiremReegnutlsa)t 2i05o,1nw se,a r ee nclohseirnegwt ihtBehu si nReesssponsanidb ility Sustainaiyb tRieloprfotrm nigp raotfA nnu RaelpoTrheAt n.na luR epcoorantit ntihnNeog t ioc fAneun al GeneraMle etisia nl gusp looaodnet dh C eompanyw'ebss iat twew w.manogrraomuapa.nctdoh s.eai mne shaallblsem o a de avaoinlt ahwbeel ibetso fe M UFGlt nim IendPirai vLaimtitee( d"o Frmerlya sk nown LinIknm teIi ndPirai Lviamtie(t M"eUFdG)" at )ht tpinss:t/a/vote.linkintime.co.in Wer qeeus yotut toa tkehea boivfoner amtioonren oc rd. Thankiynogu , Youfarist hfully, FoMra nomraIa n dusLtirmiietse d DeepakSharma CompaSneyc reatnaCdro ym pliOaffincceer MemberNsohA:i4 p8 707 EncAlsa: b ove CorpoOrffaitcee : Certifications: RegisOtffeirceed: F-A6n,u pNaamg ar, 1S9O0 0I1S,1O 4 0&0 I1S O4 50C0e1r,t Ciofmipeadn y 701,F7ltohBo orn,a Bnuzial ding, Raipur-C4h9h2a0t0t7Ii,ns dgiaarh, Manufact&u Sruipnpgl dyiifnfgpe rroednutc ts SahPalra Czoam,p lex E-maiinlf:o @manoramagroup.co.iCnertifofRriS ePdOK ,o shHearl(,aM lU I), AndhKeurriRl oaa Adn,d heri Tel+.9:1 -771-22228823405771, EcoVaCdoimsm ibtatdecgdee r t&i SfieeddSe MxE T4A- PiClelratri fie· dM umbai-4M0a0h0a5r9a,sI hntdriaa, Tele+f9a1x-:7 71-4056958 AG overonIrmn edRnietoc ogniEzxepdHo orSutts aer Te0l2.2 49704232661710,8 8148 CINL:1 5142MH200SPLC243687 MSMZEE D GOLD www.manoramagroup.co.in GSTI2N2:A AECM3726C1ZI GSTJNA-A2E7C M37l2 6ZCR Across the pages Corporate Overview 02-59 Financial Statements 193-302 About Manorama Industries Limited 02 Standalone Philosophy 03 Independent Auditor’s Report 193 Global reach 06 Balance Sheet 200 Certifications, Memberships and 08 Statement of Profit and Loss 201 Accreditations Statement of Cash Flow 202 Journey & Milestones 10 Consolidated Letter from the Chairman and 12 Managing Director Independent Auditor’s Report 250 A Portfolio Built on Science 16 Balance Sheet 257 The Science of Differentiation 18 Statement of Profit and Loss 258 From Seed to Solution 20 Statement of Cash Flow 259 Innovation in Action 24 Shareholders’ Information Operating Landscape 26 Notice of the 21st AGM 303-320 Scaling the Science 28 Strategic Priorities 32 Governance 36 Click here to access investor-related information: Financial Highlights 42 https://manoramagroup.co.in/investors-overview Our People 44 Or, scan this QR code Empowering Communities 48 Environmental Initiatives 52 Awards and Accolades 56 Statutory Reports 60-192 Management Discussion and Analysis 60 Director’s Report 86 Corporate Governance Report 105 Business Responsibility and 137 Sustainability Report This Annual Report contains forward-looking statements based on currently available information and management’s expectations, estimates and projections. Such statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied. The Company undertakes no obligation to update any forward-looking statement. Certain data in this report has been obtained from external sources; the Company has not independently verified all such data. This report should be read in conjunction with the audited standalone and consolidated financial statements and notes thereto. Past performance is not an indicator of future results. THEME INTRODUCTION Tree-Borne Seeds: Science and Innovative Solutions What if the answer to some of the world’s across the globe. What begins as a forest-harvested most complex formulation challenges seed ultimately becomes a precisely engineered solution designed to meet the requirement defined was already hidden inside a seed? by the customer. At Manorama Industries, that is where our story Our model is founded on a simple but powerful begins. Not merely in forests or factories, but within principle: innovation starts with our deep the molecular architecture of tree-borne seeds understanding of nature. By combining sustainable such as sal, mango, shea, kokum and other exotic sourcing with advanced fractionation technologies, seeds. For generations, these seeds were valued analytical capabilities and collaborative product for what they yielded. Today, they are valued for development, we create solutions that deliver what they contain — naturally occurring fatty acids consistency, functionality and value at scale. and triglyceride structures that unlock a world of exciting and innovative application possibilities. The result is an ecosystem where science creates opportunity at every stage. Forest communities gain This understanding lies at the heart of Manorama’s access to sustainable livelihoods. Customers gain evolution. Through years of research, process differentiated ingredients tailored to their needs. innovation and application expertise, we have Industries gain reliable alternatives built on natural transformed nature’s raw potential into high- resources. And innovation transforms a traditional performance specialty fats and butters trusted by commodity into a specialised, value-added solution. leading food, confectionery and personal care brands This is more than the story of tree-borne seeds. It is the story of how science unlocks their full potential — turning nature’s intelligence into innovative solutions for a changing world. ABOUT MANORAMA INDUSTRIES LIMITED Inspired by Nature. Driven by Science Manorama Industries Limited (also referred to as Today, Manorama operates an integrated value ‘Manorama Industries’, ‘Manorama’, ‘the Company’ chain spanning ethical sourcing, processing, or ‘We’), established in 2005 and headquartered refining, fractionation, product development and at Raipur, Chhattisgarh, is a leading science-driven global distribution, enabling quality, traceability, manufacturer of Cocoa Butter Equivalents (CBEs), consistency and customisation across every stage of specialty fats and butter, and exotic plant-based the journey. ingredients derived from tree-borne seeds. With ten global wholly owned subsidiaries across Since inception, the Company has been guided by West Africa, the UAE and Brazil, recognition as a a distinctive insight: that underutilised resources Three Star Export House by the Government of such as Sal seeds, Shea nuts, Mango kernels, India, and a DSIR-certified Innovation & Research Kokum seeds and other exotic seeds possess the Centre, Manorama has evolved beyond a processor molecular building blocks of premium specialty fats. of exotic seeds with the footprint, capabilities and Through scientific innovation, advanced processing innovation expertise to serve some of the world’s and continuous research, Manorama has pioneered most demanding brands. this potential to serve global food, confectionery, cosmetics, bakery and HoReCa industries. Vision Mission • Acquire and maintain a leadership [Showing first 8,000 characters — download PDF for full document]