NSE: MGEL · BSE: 544273
MANGALAM GLOBAL ENT LTD
Operates an agricultural products business that generated Rs 931.39 crore in segment revenue for the year ended March 2026, alongside foreign operations contributing Rs 141.16 crore through Singapore and Dubai subsidiaries. The company is building out a small but new Agri Retail & FMCG segment under the NEAT Everyday brand, which sold nutraceuticals, vegan capsules, cold-pressed oils and personal care products through newly opened stores in Mumbai and Ahmedabad. In FY26, revenue totalled Rs 3,384.46 crore with net profit of Rs 45.22 crore and an EBITDA margin of about 2.6%. Materials accounted for 53.9% of revenue, making agricultural commodity input costs the dominant cost line, while employee, other operating and depreciation costs together were less than 2% of revenue. The Q1 FY27 consolidated revenue of Rs 952.07 crore included foreign operations revenue that more than doubled year-on-year to Rs 153.90 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Agri Products, Foreign Operations, Agri Retail & FMCG. Thin-margin, materials-heavy agricultural trading with a small early-stage retail expansion.
Exhibit 1: Financial summary, FY23–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 1,425 | 1,839 | 2,281 | 3,384 |
| EBITDA (ex other income) | 28 | 37 | 42 | 72 |
| margin % | 1.9 | 2.0 | 1.8 | 2.1 |
| Owners' profit | 13 | 20 | 23 | 45 |
| EPS, as reported (₹) | 0.98 | 1.40 | 0.72 | 1.37 |
| ROE % · ROCE % | 11.1 · 20.5 | 14.6 · 26.9 | 11.8 · 28.5 | 18.2 · 32.4 |
| Debt / equity (x) | 2.08 | 1.45 | 0.87 | 0.87 |
| Cash from operations | (67) | 40 | (39) | 46 |
| Capex | (40) | (2) | (9) | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 563 | 502 | 537 | 859 | 706 | 756 | 1,064 | 952 |
| Profit before tax | 7 | 9 | 8 | 8 | 19 | 10 | 17 | 11 |
| Net profit | 6 | 6 | 5 | 6 | 18 | 9 | 12 | 8 |
| EPS (₹) | 0.34 | 0.38 | 0.16 | 0.20 | 0.54 | 0.26 | 0.38 | 0.26 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Agri Products | 931 | 34.7 |
| Agri Retail & FMCG | 0 | 0.0 |
| Foreign Operation | 141 | 5.3 |
| Indian Operations | 1,413 | 52.6 |
| Foreign Operations | 206 | 7.7 |
| Total, before eliminations | 2,692 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| LT FOODS LIMITED | 13,296 | 20.8 | 2.94 | 11.3 | 13.8 | 16.0 | 18.7 | 11.5 |
| KRBL LIMITED | 8,012 | 10.6 | 1.38 | 8.3 | 11.2 | 14.7 | 8.8 | 24.9 |
| GUJARAT AMBUJA EXPORTS LT | 6,614 | 15.9 | 2.01 | 12.4 | 9.2 | 11.7 | 4.0 | 17.0 |
| KAVERI SEED CO. LTD. | 3,616 | 14.6 | 2.06 | 9.8 | 16.9 | 17.0 | 6.1 | 40.1 |
| TRUALT BIOENERGY LIMITED | 3,233 | 23.0 | 2.05 | 12.7 | 6.1 | 4.8 | — | 23.5 |
| INDRAYANI BIOTECH LTD. | 2,966 | 22.3 | 29.05 | 217.6 | 1.9 | 0.2 | 45.6 | 8.2 |
| AMIR CHAND JAG KUM (E) L | 2,165 | 20.7 | 2.34 | 12.7 | 11.2 | 14.8 | — | 9.5 |
| SANSTAR LIMITED | 1,839 | 54.6 | — | — | — | — | — | 8.8 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 12.6 | 12.6 | 26 of 53 | 52% |
| P/B | 2.4 | 1.5 | 38 of 51 | 26% |
| ROCE | 20.7 | 4.1 | 7 of 67 | 91% |
| ROE | 18.2 | 3.5 | 6 of 51 | 90% |
| Debt / Equity | 0.9 | 0.4 | 38 of 51 | 26% |
| EBITDA margin | 2.3 | 9.7 | 39 of 45 | 14% |
| Revenue growth | 10.9 | 10.3 | 25 of 51 | 52% |
| Profit growth | 31.0 | 16.6 | 24 of 51 | 54% |
| Market cap | 596 | 62 | 14 of 69 | 81% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 21 Oct 2026 · Newspaper publication of Q2 FY26-27 unaudited financial results | compliance | minimal | — | — |
| 19 Oct 2026 · MGEL Q2 FY27 PBT up 41.85% YoY to Rs 12.27 Crore; revenue rises 39% | compliance | low | — | — |
| 19 Oct 2026 · Q2 FY27 results: Revenue up sharply YoY, but PAT and operating cashflow decline | results | medium | — | — |
| 19 Oct 2026 · Mangalam Global Q2 FY27 results: revenue up, profit down | results | high | — | — |
| 16 Oct 2026 · MGEL board approves raising up to Rs 150 crore via secured listed NCDs | board shareholder meetings | low | — | — |
| 14 Oct 2026 · Board meeting on Oct 19 to consider Q2 and H1 FY27 results | results | low | — | — |
| 13 Oct 2026 · Mangalam Global opens NEAT Everyday retail store in Ahmedabad | business updates | low | — | — |
| 12 Oct 2026 · Postal Ballot Results: All 4 Resolutions Passed | board shareholder meetings | low | — | — |
| 12 Oct 2026 · Postal ballot proceedings filed - 4 resolutions including 2 director appointments | board shareholder meetings | low | — | — |
| 7 Oct 2026 · Quarterly dematerialisation compliance certificate filed for Q2 FY27 | compliance | minimal | — | — |
How to read this document
| 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 |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.