Manufactures and trades electrical transformers, CRGO (Cold Rolled Grain Oriented) steel laminations, and electrical accessories, which together generated ₹511.83 crore or 88.3% of FY26 segment revenue. CRGO laminations are a key input into transformer cores and are sold both internally and to external buyers. The remaining 11.7% of revenue (₹67.84 crore in FY26) comes from EPC contracts involving electrical items, where the EBIT was ₹15.76 crore on a smaller base, indicating a higher margin profile than the manufacturing segment. In Q1 FY27, total revenue rose about 40% YoY to ₹125.8 crore, with CRGO volumes growing roughly 32% even as realisations fell about 18% YoY, while transformer revenue tripled to ₹24.4 crore. Raw materials are the dominant cost, making up 71% of FY26 revenue, with employees at 4.9% and other opex at 6.9%. The company is expanding capacity — it acquired 1.4315 hectares of industrial land in Parsarampura, Sikar, Rajasthan for ₹8 crore in June 2026, with new transformer capacity targeted by end of FY27. It listed on NSE and BSE in August 2025 via an IPO of ₹400 crore, and promoters hold 74.79% of equity. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Manufacturing & Trading of Electrical Transformers, CRGO, Electrical Accessories (88%), EPC Contract Involving Electrical Items (12%). Capital- and materials-intensive electrical equipment maker with vertical integration into CRGO steel laminations
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 580 |
| EBITDA (ex other income) | 68 |
| margin % | 11.8 |
| Owners' profit | 43 |
| EPS, as reported (₹) | 17.46 |
| ROE % · ROCE % | 7.3 · 11.7 |
| Debt / equity (x) | 0.08 |
| Cash from operations | (101) |
| Capex | (37) |
| ₹ crore | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|
| Revenue | 90 | 154 | 156 | 179 | 126 |
| Profit before tax | 5 | 18 | 18 | 17 | 10 |
| Net profit | 4 | 13 | 13 | 13 | 8 |
| EPS (₹) | 1.82 | 5.96 | 5.01 | 4.68 | 2.72 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Manufacturing & Trading of Electrical Transformers, CRGO, Electrical Accessories | 152 | 84.5 |
| EPC Contract Involving Electrical Items | 28 | 15.5 |
| Total, before eliminations | 179 | 100.0 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 2 Sept 2026 · CARE assigns credit rating to bank facilities worth Rs 133 crore | credit debt | medium | — | — |
| 27 Aug 2026 · All 8 resolutions passed at 18th AGM including ESOP 2025 approval | board shareholder meetings | low | — | — |
| 27 Aug 2026 · All 8 resolutions passed at 18th AGM including ESOP 2025 approval | compliance | minimal | — | — |
| 26 Aug 2026 · Mangal Electrical Industries Discloses KPIs for FY26 | results | medium | — | — |
| 26 Aug 2026 · 18th AGM proceedings: 8 resolutions passed including ESOP 2025 approval | board shareholder meetings | low | — | — |
| 10 Aug 2026 · Corrigendum to 18th AGM notice published in newspapers | compliance | minimal | — | — |
| 7 Aug 2026 · Corrigendum to 18th AGM notice - auditor term and profile corrections | board shareholder meetings | low | — | — |
| 6 Aug 2026 · IPO Proceeds Q1FY27: Rs 315 Cr Used, Delays in Capex and Loan Repayment | compliance | minimal | — | — |
| 5 Aug 2026 · Newspaper publication of 18th AGM Notice and Annual Report | compliance | minimal | — | — |
| 4 Aug 2026 · MEIL 18th AGM on Aug 26, 2026 with ESOP 2025 and Director Appointments | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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