Declaration of audited financial results
MEIL · price
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Mangal Electrical Industries reported FY2026 revenue of Rs 5,797 Lakhs, up 5.5% from Rs 5,494 Lakhs in FY2025. However, Profit After Tax declined 8.7% to Rs 4,317 Lakhs from Rs 4,731 Lakhs, reflecting margin compression as EBITDA fell from Rs 6,863 Lakhs to Rs 6,404 Lakhs. The company raised Rs 400 crore via IPO in August 2025, with Rs 309.34 crore utilized by March 2026. Operating cash flow turned significantly negative at Rs -10,135 Lakhs (vs Rs -3,009 Lakhs prior year). Total assets nearly doubled to Rs 70,705 Lakhs, with equity surging to Rs 59,037 Lakhs from Rs 16,216 Lakhs, largely due to IPO proceeds. The Board also approved an Employee Stock Option Plan (MEIL-ESOP 2025) for up to 15 lakh options. Statutory auditors gave an unmodified (clean) opinion.
Despite revenue growth, the 8.7% decline in PAT and deeply negative operating cash flows are concerns. The doubling of equity from IPO proceeds provides a strong balance sheet cushion, but investors should monitor margin recovery and cash conversion in FY2027.