Manorama Industries to set up factory in Burkina Faso, partners with DEKEL in Brazil

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Manorama Industries Limited (BSE: 541974; NSE: MANORAMA) has signed a Memorandum of Understanding (MOU) with the National Office for Major Projects of Burkina Faso to establish a new factory focused on the processing plants of Shea Nuts & Mango Kernels. The company has also entered into a strategic partnership with DEKEL Agroindústria (Dekel) to produce Cocoa Butter Equivalent (CBE) and specialty fats in Brazil.

The business in Burkina Faso will be conducted through the Company's new wholly owned subsidiary, proposed name: Manorama Burkina Industries SA, Burkina Faso or any other name as approved by the authorities. This partnership aligns with Burkina Faso's industrialization policy and promotes sustainable economic development, leveraging Manorama's expertise in manufacturing specialty fats & butters and exotic products for Fortune 500 companies in the chocolate, confectionery and cosmetic industry.

Manorama Latin America LTDA, a wholly owned subsidiary of Manorama Industries Limited, has partnered with DEKEL Agroindústria (Dekel) to produce Cocoa Butter Equivalent (CBE) and specialty fats in Brazil. This collaboration marks Manorama as the first global CBE producer to manufacture in Brazil, with production set to begin in November 2025 tentatively. Manorama will supply the specialty raw materials necessary for CBE production and will benefit from access to Dekel's facility located in Itápolis, São Paulo, Brazil.

Commenting on the key developments, Chairman and Managing Director of Manorama Industries, Mr. Ashish Saraf said, "Manorama has significantly enhanced its international presence in Africa and Latin America. The Memorandum of Understanding with the Government of Burkina Faso supports our plans for backward integration by establishing a processing factory in Africa. This initiative is designed to improve our overall operations in Africa, leading to greater operational efficiencies and better supply chain management.

Additionally, our strategic partnership with Dekel for manufacturing Cocoa Butter Equivalent (CBE), a crucial ingredient for the chocolate industry, is set to begin in November 2025 tentatively. This makes us the first global CBE producer in Brazil. It underscores our growth ambitions to introduce and supply CBE and specialty fats to Brazil and the broader Latin American chocolate market."

Established in 2005, MIL is a global pioneer in manufacturing speciality fats & butters and exotic products. The Company has carved a niche in manufacturing Sal CBE & Stearin, Shea CBE & Stearin, Mango CBE & Stearin and other exotic fats & butter. MIL offers customized solutions to Fortune 500 companies in chocolate, confectionery and cosmetic industry.

The Company's R&D thrust and quality focus has propelled MILCOA Research & Development Centre laced with several Global certifications. Over the years, the Company has bagged over 50 International and National awards for its unique business model and playing a pivotal role in empowering communities and its contribution to nation-building. MIL is equally committed towards various Environmental, Social, and Governance (ESG) sustainability practices driving long-term growth and creating value for its esteemed stakeholders.

For more information, please visit: https://manoramagroup.co.in

For further details, please get in touch with:

Ms. Ekta Soni

AVP - Investor Relations

Email: ekta@manoramagroup.co.in

Email: investors@manoramagroup.co.in

Phone: +91 7879165440

Mr. Deepak Sharma

Company Secretary & Compliance officer

Email: cs.sharma@manoramagroup.co.in

Phone: +91 9329932082

Hiral Keniya | Vikash Verma | Yashvi Jain

Ernst & Young LLP

Email: hiral.keniya@in.ey.com | vikash.verma1@in.ey.com | yashvi.jain1@in.ey.com

Phone: +91 9029662801 | +91 9664009029 | +91 89059 54390

Certain statements in this document that are not historical facts are forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political, or economic developments, industry risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. Manorama Industries will not be responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.