Presentation - Mangal Electrical Industries Limited
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Mangal Electrical Industries reported FY26 revenue of ₹579.7 Crs with EBITDA of ₹68.3 Crs and PAT of ₹43.2 Crs. The company achieved 20% volume growth in its core CRGO product despite challenging market conditions with declining CRGO prices throughout the year. EBITDA margin contracted to 11.8% from 14.9% in FY25, and PAT margin fell to 7.4% from 8.6% in FY25, primarily due to raw material price pressures. Total debt was significantly reduced from ₹149.1 Crs to ₹45.4 Crs. The company listed on NSE and BSE in August 2025 and is expanding capacity with a new greenfield transformer plant under implementation to move up the value chain to higher kV class transformers.
Margin pressure from declining raw material prices is a near-term concern, but strong volume growth and significant debt reduction signal a healthier balance sheet. The expansion into higher kV class transformers and the upcoming capacity additions could drive improved profitability as market conditions stabilize.