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Mangalam Global Enterprise Q2 FY27 results: net profit down 48.0% to ₹9.25 crore, revenue up 39.2%
Mangalam Global Enterprise Limited reported consolidated revenue of ₹982.56 crore in Q2 FY27, up 39.2% from Q2 FY26. EBITDA rose 96.5% to ₹22.54 crore and margin increased 0.7 percentage points to 2.3%, while profit after tax fell 48.0% to ₹9.25 crore and basic EPS declined to ₹0.28.
Key points
- Consolidated revenue was ₹982.56 crore in Q2 FY27, up ₹276.76 crore or 39.2% from Q2 FY26.
- EBITDA was ₹22.54 crore, up ₹11.07 crore or 96.5% year on year, while EBITDA margin rose 0.7 percentage points to 2.3%.
- Profit after tax was ₹9.25 crore, down ₹8.55 crore or 48.0% from Q2 FY26, and basic EPS fell from ₹0.54 to ₹0.28.
- In H1 FY27, revenue rose 23.7% to ₹1,934.63 crore, while profit after tax fell 27.0% to ₹17.68 crore.
- The board approved the consolidated and standalone unaudited results for the quarter and half year ended 30 September 2026 on 19 October 2026.
How did Mangalam Global Enterprise perform in Q2 FY27?
Mangalam Global Enterprise reported consolidated revenue of ₹982.56 crore in Q2 FY27, up 39.2% from ₹705.80 crore in Q2 FY26. EBITDA rose 96.5% to ₹22.54 crore and its margin increased 0.7 percentage points to 2.3%. Profit before tax fell 36.4% to ₹12.27 crore.
Profit after tax declined 48.0% to ₹9.25 crore from ₹17.80 crore, while basic EPS fell from ₹0.54 to ₹0.28. Against Q1 FY27, revenue rose 3.2% to ₹982.56 crore, EBITDA increased 22.3% to ₹22.54 crore and margin rose 0.4 percentage points to 2.3%. Profit after tax was ₹9.25 crore, up from ₹8.43 crore, and EPS was ₹0.28 compared with ₹0.26. On the standalone basis, revenue was ₹874.51 crore and profit after tax was ₹8.32 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 982.56 | 952.07 | 705.80 | +39.2% | +3.2% |
| Other income | 0.57 | 2.75 | 5.20 | −89.0% | −79.3% |
| Total expenses | 970.86 | 944.38 | 702.35 | +38.2% | +2.8% |
| EBITDA | 22.54 | 18.43 | 11.47 | +96.5% | +22.3% |
| EBITDA margin | 2.3% | 1.9% | 1.6% | +0.7 pp | +0.4 pp |
| Profit before tax | 12.27 | 10.95 | 19.29 | −36.4% | +12.1% |
| Tax | 3.02 | 2.53 | 1.49 | +102.7% | +19.4% |
| Net profit | 9.25 | 8.43 | 17.80 | −48.0% | +9.7% |
| EPS (₹) | 0.28 | 0.26 | 0.54 | −48.1% | +7.7% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Mangalam Global Enterprise's costs and profit?
Total expenses rose 38.2% year on year to ₹970.86 crore, outpacing the increase in revenue. Cost of materials increased by ₹80.23 crore to ₹577.87 crore, employee cost by ₹2.94 crore to ₹4.90 crore, finance costs by ₹2.47 crore to ₹9.87 crore, depreciation by ₹0.34 crore to ₹0.96 crore and other expenses by ₹5.69 crore to ₹12.14 crore.
Other income fell by ₹4.63 crore to ₹0.57 crore. Q2 FY26 included an exceptional gain of ₹10.64 crore, while Q2 FY27 had no exceptional item, so profit before tax fell by ₹7.02 crore to ₹12.27 crore despite higher EBITDA. Tax expense increased by ₹1.53 crore to ₹3.02 crore.
Sequentially, total expenses rose by ₹26.48 crore to ₹970.86 crore. Cost of materials increased by ₹147.91 crore to ₹577.87 crore, employee cost by ₹0.52 crore to ₹4.90 crore, depreciation by ₹0.15 crore to ₹0.96 crore and other expenses by ₹2.20 crore to ₹12.14 crore. Other income fell by ₹2.18 crore to ₹0.57 crore, and tax was ₹3.02 crore, up ₹0.49 crore from Q1 FY27.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 577.87 | 497.64 | +80.23 | +16.1% |
| Employee cost | 4.90 | 1.96 | +2.94 | +150.0% |
| Finance costs | 9.87 | 7.40 | +2.47 | +33.4% |
| Depreciation | 0.96 | 0.62 | +0.34 | +54.8% |
| Other expenses | 12.14 | 6.45 | +5.69 | +88.2% |
| Total expenses | 970.86 | 702.35 | +268.51 | +38.2% |
| Other income | 0.57 | 5.20 | −4.63 | −89.0% |
| Tax | 3.02 | 1.49 | +1.53 | +102.7% |
| Exceptional items | none | +10.64 (gain) |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue rose 23.7% to ₹1,934.63 crore from ₹1,564.34 crore in H1 FY26. Total income increased 23.1% to ₹1,937.94 crore. Profit before tax declined 16.3% to ₹23.23 crore, while profit after tax fell 27.0% to ₹17.68 crore and EPS decreased from ₹0.74 to ₹0.54.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,935 | 1,564 | +23.7% |
| Profit before tax | 23.23 | 27.76 | −16.3% |
| Net profit | 17.68 | 24.23 | −27.0% |
| EPS (₹) | 0.54 | 0.74 | −27.0% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹946.56 crore, compared with ₹805.02 crore at 31 March 2026. Total equity rose to ₹267.10 crore from ₹248.02 crore, while borrowings increased to ₹291.28 crore from ₹214.57 crore. Cash was ₹5.73 crore, compared with ₹3.54 crore at the previous balance sheet date.
Inventories increased to ₹169.72 crore from ₹158.35 crore, trade receivables to ₹546.27 crore from ₹486.94 crore and trade payables to ₹363.55 crore from ₹186.61 crore. In H1 FY27, operating cash flow was negative ₹25.48 crore, compared with ₹23.07 crore in H1 FY26. Investing cash flow was negative ₹28.63 crore against negative ₹13.97 crore, while financing cash flow was ₹56.30 crore against negative ₹6.14 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 946.56 | 805.02 |
| Total equity | 267.10 | 248.02 |
| Borrowings | 291.28 | 214.57 |
| Cash and equivalents | 5.73 | 3.54 |
| Inventories | 169.72 | 158.35 |
| Trade receivables | 546.27 | 486.94 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −25.48 | 23.07 |
| Cash from investing | −28.63 | −13.97 |
| Cash from financing | 56.30 | −6.14 |
| Capital expenditure | 0 | 0.09 |
Source: Company's results filing (XBRL).
How has Mangalam Global Enterprise done over the last 8 quarters?
Revenue increased year on year in each of the last six quarters. Across the reported series, revenue was highest at ₹1,063.96 crore in Q4 FY26 and lowest at ₹502.16 crore in Q3 FY25. It reached ₹982.56 crore in Q2 FY27 after ₹952.07 crore in Q1 FY27.
Profit after tax peaked at ₹17.80 crore in Q2 FY26 and was lowest at ₹5.19 crore in Q4 FY25. In Q2 FY27, profit after tax was ₹9.25 crore, above ₹8.43 crore in the previous quarter. EBITDA margin was 2.3% in the latest quarter, equal to the Q4 FY26 peak, while its low over the series was 1.5%.
Which businesses drove the quarter?
Agri Products reported revenue of ₹871.21 crore and EBIT of ₹26.93 crore, with an EBIT margin of 3.1%. Foreign Operations reported revenue of ₹108.05 crore and EBIT of ₹1.13 crore, with an EBIT margin of 1.0%. The filing excerpts did not provide year-ago segment revenue or EBIT figures for a comparison.
Agri Retail & FMCG reported revenue of ₹3.30 crore and an EBIT loss of ₹3.29 crore, with an EBIT margin of negative 99.7%. The available figures do not include year-ago segment revenue, EBIT or growth rates for the reported businesses.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Agri Products | 871.21 | 26.93 | 3.1% | |
| Agri Retail & FMCG | 3.30 | −3.29 | -99.7% | |
| Foreign Operations | 108.05 | 1.13 | 1.0% |
Source: Company's results filing (XBRL segment data).
How did Mangalam Global Enterprise shares react?
The filing was released after market hours. From the price when it appeared, MGEL rose 0.6% after 5 minutes and 15 minutes and was up 0.4% after 30 minutes. On the reaction day, the stock closed 0.6% below its previous close. By the next day's close, it was down 1.1% from the pre-results close, while by the fifth session it was up 5.2%.
The Other Agricultural Products industry median moved down 2.9% on the reaction day, down 3.9% by the next day and down 6.2% by five days. MGEL therefore outperformed the industry median by 2.3 percentage points on the reaction day, 2.8 percentage points by the next day and 11.3 percentage points by five days. Earlier reaction-day moves included negative 2.9% on 1 August 2026 and positive 11.6% on 18 April 2026.
| After the filing | Stock | Other Agricultural Products median |
|---|---|---|
| 5 minutes | +0.6% | |
| 15 minutes | +0.6% | |
| 30 minutes | +0.4% | |
| Reaction day | −0.6% | −2.9% |
| Next day | −1.1% | −3.9% |
| 5 days | +5.2% | −6.2% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 1 August 2026 | −2.9% |
| 18 April 2026 | +11.6% |
| 13 January 2026 | −8.5% |
| 15 October 2025 | −9.7% |
| 31 July 2025 | +0.4% |
| 23 April 2025 | −7.4% |
| 18 January 2025 | −2.6% |
| 21 October 2024 | −6.4% |
Source: MarketPing price-reaction measurement.
How did other Other Agricultural Products companies do?
Among 16 Other Agricultural Products companies compared for the quarter, the median revenue growth was 12.9%. Eleven peers grew more slowly than Mangalam Global Enterprise and five grew faster. Of the 15 peers with comparable profit data, nine reported higher profit, with the peer comparison dated 4 November 2026.
| Mangalam Global Enterprise revenue growth (YoY) | +39.2% |
|---|---|
| Median of 16 other Other Agricultural Products companies | +12.9% |
| Companies with slower revenue growth than Mangalam Global Enterprise | 11 of 16 |
| Companies with faster revenue growth than Mangalam Global Enterprise | 5 of 16 |
| Companies whose net profit rose | 9 of 15 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Mangalam Global Enterprise's revenue in Q2 FY27?
Revenue from operations was ₹982.56 crore, up 39.2% from ₹705.80 crore in Q2 FY26 (consolidated).
Did Mangalam Global Enterprise make a profit in Q2 FY27?
Yes. Net profit was ₹9.25 crore, against a net profit of ₹17.80 crore in Q2 FY26.
What was Mangalam Global Enterprise's EPS in Q2 FY27?
Basic earnings per share were ₹0.28, against ₹0.54 in Q2 FY26.
How did Mangalam Global Enterprise shares react to the Q2 FY27 results?
On the reaction day the stock moved −0.6% from the previous close; the median Other Agricultural Products stock moved −2.9%.
When did Mangalam Global Enterprise announce its Q2 FY27 results?
On 19 October 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of Unaudited Financial Results For The Quarter And Half Year Ended September 30, 2026 (BSE, 14 October 2026) · PDF
- Outcome of Board Meeting (NSE, 19 October 2026) · PDF
- Integrated Filing- Financial (NSE, 19 October 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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