Manufactures stainless steel products at its Halol facility in Gujarat and exports to 20 European countries. FY26 standalone revenue was Rs 1,214.98 crore, with consolidated revenue of Rs 1,207.98 crore. Materials dominate the cost structure at 83.3% of revenue, with other operating expenses at 12.2% and employee costs at 2.9%. The company commissioned a 10.4 MW ground-mounted solar plant at Halol in July 2026, taking total captive solar capacity to 11.6 MW, which it states will offset over 12,500 metric tonnes of CO2 annually and cut electricity costs by 20 to 40 percent. In Q1 FY27, consolidated revenue rose to Rs 316.85 crore with adjusted EBITDA of Rs 29.72 crore. Outstanding debt stood at Rs 10,000 lakhs with a D/E ratio of 1.14 times. The company is listed on NSE (MWL) and BSE (544764), recently completed a stock split from Rs 10 to Re 1 face value, and migrated to the main boards of both exchanges. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Stainless steel products. Asset-heavy stainless steel manufacturer with export focus and captive solar power
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 1,061 | 1,208 |
| EBITDA (ex other income) | 57 | 91 |
| margin % | 5.3 | 7.5 |
| Owners' profit | 29 | 50 |
| EPS, as reported (₹) | 10.59 | 16.87 |
| ROE % · ROCE % | 11.3 · 18.7 | 16.4 · 21.4 |
| Debt / equity (x) | 0.73 | 0.76 |
| Cash from operations | (87) | (20) |
| Capex | 0 | (26) |
| ₹ crore | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|
| Revenue | 594 | 276 | 317 | 350 | 265 | 316 |
| Profit before tax | 16 | 10 | 10 | 14 | 16 | 13 |
| Net profit | 17 | 10 | 11 | 14 | 15 | 12 |
| EPS (₹) | 5.61 | 3.41 | 3.55 | 4.74 | 5.17 | 4.01 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| WELSPUN CORP LIMITED | 70,880 | 30.7 | 7.54 | 30.2 | 17.2 | 14.9 | 21.1 | 18.5 |
| APL APOLLO TUBES LTD | 59,803 | 48.6 | 11.29 | 31.1 | 22.7 | 26.1 | 22.1 | 8.0 |
| SHYAM METALICS AND ENGY L | 29,979 | 26.8 | 2.43 | 12.2 | 8.6 | 11.4 | 24.1 | 14.9 |
| JINDAL SAW LIMITED | 20,016 | 30.5 | 1.63 | 10.5 | 7.5 | 6.8 | 10.9 | 9.4 |
| RATNAMANI MET & TUB LTD. | 19,815 | 45.8 | 4.71 | 23.1 | 12.7 | 15.6 | 14.4 | 18.5 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Mangalam Worldwide Clarifies No Undisclosed Info Behind Volume Surge | regulatory legal | medium | — | — |
| 10 Sept 2026 · NSE seeks clarification from Mangalam Worldwide on unusual volume spike | regulatory legal | high | — | — |
| 8 Sept 2026 · Newspaper publication of Postal Ballot Notice | compliance | minimal | — | — |
| 7 Sept 2026 · Postal Ballot: Independent Director Appointment and Related Party Pay Hike | board shareholder meetings | low | — | — |
| 7 Sept 2026 · MWL empaneled as approved vendor by Abu Dhabi National Oil Company | business updates | high | — | — |
| 3 Sept 2026 · Mangalam Worldwide appoints Keyoor Bakshi as Independent Director | management changes | medium | — | — |
| 3 Sept 2026 · Board appoints Keyoor Bakshi as independent director | board shareholder meetings | medium | — | — |
| 3 Sept 2026 · Board appoints new Independent Director, approves Postal Ballot | board shareholder meetings | low | — | — |
| 27 Aug 2026 · BSE waives fine for Mangalam Worldwide on listing non-compliance | regulatory legal | high | — | — |
| 24 Aug 2026 · Independent Director Anilkumar Agrawal resigns citing health reasons | management changes | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| GODAWARI POW & ISP LTD |
| 15,875 |
| 18.6 |
| 2.71 |
| 12.0 |
| 13.7 |
| 17.0 |
| 5.7 |
| 21.0 |
| USHA MARTIN LTD. | 15,069 | 29.7 | 4.56 | 19.8 | 14.1 | 17.7 | 12.0 | 21.0 |
| GALLANTT ISPAT LIMITED | 13,270 | 30.6 | 4.00 | 17.7 | 14.6 | 16.8 | 34.4 | 17.8 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 2.4 | 16.2 | 11 of 118 | 92% |
| P/B | 0.4 | 1.7 | 9 of 99 | 92% |
| ROCE | 12.4 | 8.7 | 42 of 120 | 66% |
| ROE | 16.4 | 8.6 | 18 of 114 | 85% |
| Debt / Equity | 0.8 | 0.1 | 102 of 114 | 11% |
| EBITDA margin | 9.4 | 11.0 | 57 of 100 | 43% |
| Revenue growth | 14.7 | 13.7 | 47 of 97 | 52% |
| Profit growth | 18.7 | 29.3 | 62 of 105 | 41% |
| Market cap | 124 | 247 | 72 of 120 | 40% |
| 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 |
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.
