Mangalam Worldwide Q2 FY27 results: net profit up 31.3% to ₹13.83 crore, revenue up 13.7%

How did Mangalam Worldwide perform in Q2 FY27?

Mangalam Worldwide’s standalone revenue for Q2 FY27 was ₹360.40 crore, up ₹43.29 crore or 13.7% from ₹317.11 crore in Q2 FY26. Total income was ₹361.06 crore, up ₹42.54 crore or 13.4%. Against Q1 FY27, revenue rose ₹44.18 crore or 14.0% from ₹316.22 crore.

Standalone EBITDA was ₹39.27 crore in Q2 FY27, up ₹18.69 crore or 90.8% from ₹20.58 crore in Q2 FY26 and ₹10.75 crore or 37.7% from ₹28.52 crore in Q1 FY27. The margin was 10.9%, compared with 6.5% in Q2 FY26 and 9.0% in Q1 FY27, an expansion of 4.4 percentage points and 1.9 percentage points, respectively.

Profit before tax was ₹17.70 crore, up from ₹10.32 crore in Q2 FY26 and ₹12.37 crore in Q1 FY27. Net profit was ₹13.83 crore, compared with ₹10.53 crore and ₹11.76 crore, respectively. Basic EPS was ₹0.47, against ₹3.55 in Q2 FY26 and ₹3.96 in Q1 FY27, adjusted for the stock split. The company also filed consolidated results, which the investor presentation reported separately.

What changed in Mangalam Worldwide's costs and profit?

Total expenses rose ₹35.16 crore or 11.4% from Q2 FY26 to ₹343.36 crore, below the ₹42.54 crore increase in total income. Cost of materials consumed was ₹304.57 crore, up ₹45.98 crore or 17.8%; other expenses were ₹48.63 crore, up ₹9.66 crore or 24.8%; and employee cost was ₹10.06 crore, up ₹0.96 crore or 10.5%.

Finance costs increased ₹8.62 crore or 93.0% to ₹17.89 crore, while depreciation rose ₹1.94 crore or 80.8% to ₹4.34 crore. Other income fell ₹0.75 crore or 53.2% to ₹0.66 crore. There was no exceptional item. Tax expense was ₹3.87 crore, against a tax credit of ₹0.21 crore in Q2 FY26, and the stated difference was ₹4.08 crore.

Compared with Q1 FY27, total expenses were up ₹38.88 crore or 12.8%, led by cost of materials consumed at ₹304.57 crore, up ₹32.88 crore. Finance costs were ₹17.89 crore, up ₹4.01 crore; depreciation was ₹4.34 crore, up ₹1.44 crore; other expenses were ₹48.63 crore, up ₹6.89 crore; and tax expense was ₹3.87 crore, up ₹3.25 crore. Other income was ₹0.66 crore, and there was no exceptional item.

How did the first half of FY27 go?

In the first half of FY27, standalone revenue was ₹676.62 crore, up ₹83.78 crore or 14.1% from ₹592.84 crore in H1 FY26. Total income rose 13.4% to ₹677.91 crore from ₹597.93 crore, while profit before tax increased 49.2% to ₹30.07 crore from ₹20.15 crore.

Net profit for H1 FY27 was ₹25.58 crore, up ₹4.94 crore or 23.9% from ₹20.64 crore. Basic EPS was ₹0.87, compared with ₹6.95 in H1 FY26, a fall of 87.5%. The comparative EPS figures were adjusted for the stock split.

What do the balance sheet and cash flow show?

At 30 September 2026, standalone total assets were ₹1,211.67 crore, compared with ₹917.97 crore at 31 March 2026. Total equity rose to ₹323.27 crore from ₹291.35 crore, while borrowings increased to ₹345.78 crore from ₹232.91 crore. Cash and cash equivalents were ₹4.97 crore, compared with ₹1.26 crore, and inventories were ₹593.74 crore against ₹459.13 crore.

Trade receivables increased to ₹245.69 crore from ₹161.65 crore, while trade payables rose to ₹466.01 crore from ₹112.67 crore. For the first half of FY27, operating cash flow was negative ₹47.22 crore, compared with ₹1.51 crore a year earlier. Investing cash flow was negative ₹24.62 crore against negative ₹7.90 crore, and financing cash flow was ₹75.96 crore against ₹8.92 crore.

How has Mangalam Worldwide done over the last 7 quarters?

Revenue rose in each of the last two quarters on a year-on-year basis, while profit also rose year on year for two quarters. In Q2 FY27, revenue reached ₹360.40 crore and net profit ₹13.83 crore, following ₹316.22 crore and ₹11.76 crore in Q1 FY27.

The EBITDA margin increased from 6.5% in Q2 FY26 to 10.9% in Q2 FY27. Over the supplied period, revenue bottomed at ₹264.95 crore in Q4 FY26 before rising for two quarters, while net profit bottomed at ₹10.11 crore in Q1 FY26 and reached ₹15.38 crore in Q4 FY26 before easing to ₹11.76 crore and then rising to ₹13.83 crore.

What else did the company announce?

On 15 October 2026, the board considered, approved and adopted the standalone and consolidated unaudited financial results for the quarter and half year ended 30 September 2026, together with the limited review report. The same-day filings did not report a dividend, a fund raise or new appointments.

What did Mangalam Worldwide's management say?

Management identified fluctuations in raw material prices, foreign-exchange movements, demand-supply dynamics and project-execution risks among factors that could cause actual results to differ from expectations. No numerical revenue or profit guidance and no analyst question-and-answer responses were included in the supplied presentation excerpts.

How did Mangalam Worldwide shares react?

After the after-market filing, the share price fell 2.2% after five minutes, 2.3% after 15 minutes and 2.3% after 30 minutes. It closed 0.7% lower from its pre-results close on the reaction day, while the industry median was up 0.4%. By the next day's close, the stock was up 0.9% from its pre-results close; the industry median was down 1.3%.

By the fifth-session close, the stock was down 8.4% from its pre-results close, compared with a 7.6% fall for the industry median and a 6.4% fall for the Nifty Microcap 250. The five-session move was 0.8 percentage points below the industry median. Earlier results-day moves were 11.6% on 29 April 2026, 4.7% on 29 October 2024, 0.4% on 7 August 2024 and 19.7% on 19 April 2024; the move on 24 July 2026 was 1.0% lower.

How did other Iron & Steel Products companies do?

Among 28 other Iron & Steel Products companies compared for Q2 FY27, the median revenue growth was 25.5%. Twelve peers grew slower than Mangalam Worldwide and 16 grew faster. Of the 33 peers for which profit was compared, 22 reported higher profit. These peer figures were available as of 4 November 2026.