Key Developments at Manorama Industries

Raipur, January 15th, 2024 – Manorama Industries Limited, a front-runner in specialty fats, butters, and exotic products, is hitting the headlines with two major announcements that could reshape its market presence and shareholder value.

1:5 Stock Split: Making Shares More Accessible

The Board of Directors has given the green light to a stock split, changing the face value of its shares from INR 10 to INR 2. What does this mean for investors? Simply put, it’s going to make the company’s shares more affordable and increase their liquidity in the market. A smart move that could attract more investors!

Geographic Expansion and Product Diversification

The company isn’t just stopping at a stock split. They’re setting their sights on bigger, global goals. Manorama plans to strengthen its roots in key international markets by setting up entities in the UAE, Russia, and other strategic locations. This expansion aims to bolster their business operations significantly.

Chocolate & Confectionery: The New Frontier

But there’s more brewing at Manorama. They’re eyeing the lucrative Chocolate & Confectionery sector. Think real chocolate, super compound slabs, compound chocolate, and specialty cocoa products. It’s a natural extension of their existing business line, tapping into both domestic and international markets.

Updates and Developments:

• New Fractionation Plant: The company is gearing up to complete its new fractionation plant’s CAPEX by FY24. This expansion is set to boost its production capacity, solidifying its position in the global market for CBE and specialty butter & fats.
• Credit Rating Upgrade: Manorama’s commitment to growth and excellence has been recognized with an upgraded credit rating by CARE, now standing at ‘CARE A-, Stable’.
• Investor Relations: Ernst & Young LLP has been roped in to manage their investor relations, signaling a step towards strengthening stakeholder communication.
• Manorama Industries share has jumped around 100% in the last 1 year, doubling from 1000 to 2000 rupees per share. It’d be interesting to see how the stock price reacts to this news.

Words from the President

Mr. Ashish Saraf, President of Manorama Industries, expresses confidence in these strategic moves. The stock split, geographic expansion, and foray into new product lines are not just about growth but also about enhancing shareholder value and meeting global demands.

About Manorama Industries Limited (MIL)

Since 2005, MIL has been a leader in the manufacturing of specialty fats & butters. With a focus on R&D and quality, MIL offers customized solutions to top global companies. Their commitment to ESG practices underscores their dedication to sustainable and responsible growth.

EaseMy Trip popularly known for for its travel services, just stepped into the insurance world with the launch of its new arm, EaseMyTrip Insurance Broker Private Limited. This move aims to expand their services and cater to the insurance market’s growing needs. By venturing into insurance, the company plans to leverage its customer base of 20 million users.

EaseMy Trip is looking at Opportunities in the Insurance Market

India’s insurance sector is on the rise, with annual growth rates of 32-34%. By 2027, experts believe that the sector can reach a milestone of US$200 billion. EaseMy Trip sees this as an opportunity to expand its offerings and expand its business horizons.

Pioneering Change in the Industry

The incorporation of EaseMyTrip Insurance Broker Private Limited as a distinct entity under the parent brand signifies the company’s dedication to innovation. Mr. Nishant Pitti, a driving force behind the company, takes the helm as the Director, ushering in a new era for the company.

CEO’s Enthusiasm and Vision

Mr. Nishant Pitti, CEO and Co-Founder of EaseMyTrip, is excited about this leap into the insurance domain. He aims to elevate their customer offerings by providing a comprehensive travel ecosystem that now includes insurance solutions.

A Vision for Innovation

EaseMyTrip Insurance Broker Private Limited is set to redefine the insurance sector. Fueled by innovation and a customer-centric approach, the company aims to meet customers’ evolving needs effectively.

A Glimpse into EaseMyTrip

EaseMyTrip, a prominent online travel platform listed on NSE and BSE, has been flourishing at a remarkable rate. Offering end-to-end travel solutions with no booking fees, it provides access to a vast network of airlines, hotels, and transportation services. Read more Finance news with Tradealone.

The Rise of XAlt in India’s Investment Sphere

KFintech, a trailblazer in global investor and issuer solutions, recently announced the launch of XAlt. This innovative, first-of-its-kind platform is designed specifically for Alternative Investment Funds (AIFs) in India. XAlt aims to streamline fund administration, offering a seamless and secure environment for both fund managers and investors. This groundbreaking platform emerges at a crucial time when India’s AIF commitments have seen a meteoric rise, soaring from ₹1,437 crore in 2013 to a staggering ₹8,33,774 crore in March 2023.

About KFintech: Pioneering Financial Services

With its headquarters buzzing with innovation, KFintech is not just another financial services firm. As a leader in providing cutting-edge solutions to the capital markets ecosystem, KFintech services a diverse range of clients. From mutual funds to private retirement schemes, its influence spans across several countries, including Malaysia, Singapore, and Canada. In India, it stands out as the top investor solutions provider, catering to a wide array of asset managers and corporate issuers.

XAlt: A Game-Changer for AIF Administration

The introduction of XAlt marks a significant milestone in the evolution of AIF fund administration. It simplifies complex processes, making it easier for investors and fund managers to navigate the intricacies of AIFs. XAlt is bolstered by its integration with KFintech’s proprietary Fund Accounting platform, mPower, which automates critical tasks like valuations and compliance management. This synergy enhances operational efficiency and elevates the overall user experience.

Cutting-Edge Features of XAlt

XAlt stands out with its array of innovative features. It offers persona-based portals tailored for investors, distributors, and fund managers, providing customized dashboard insights and transaction details. The platform also pioneers in digital onboarding, seamless system integration, and innovative commission processing. Furthermore, it upholds stringent security protocols, including regular AML/KYC checks and robust encryption measures, ensuring a safe and compliant environment for high-value transactions.

The Impact and Future of XAlt

As noted by Mr. Sreekanth Nadella, MD & CEO of KFintech, XAlt reflects the company’s commitment to innovation and meeting the evolving needs of the AIF market. The platform is poised to significantly influence fund management in India, attracting more investments into the AIF sector due to its user-friendly and secure framework. By simplifying and securing fund administration processes, XAlt is set to become a cornerstone in the burgeoning landscape of alternative investments in India.

By integrating XAlt into India’s dynamic investment market, KFintech not only addresses current needs but also paves the way for future advancements in fund administration. This initiative showcases KFintech’s dedication to innovation and its foresight in shaping a more efficient and secure investment environment.

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