Mangalam Alloys Ltd
Incorporated in 1988, Mangalam Alloys Ltd manufactures and distributes high quality Stainless Steel products[1]
- Market Cap ₹ 129 Cr.
- Current Price ₹ 52.2
- High / Low ₹ 80.2 / 26.2
- Stock P/E 9.69
- Book Value ₹ 58.0
- Dividend Yield 0.00 %
- ROCE 15.7 %
- ROE 9.74 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.90 times its book value
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 4.51% over past five years.
- Company has a low return on equity of 9.81% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Industrial Products Iron & Steel Products
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| 269 | 359 | 346 | 271 | 309 | 303 | 304 | 431 | |
| 242 | 325 | 316 | 258 | 280 | 269 | 270 | 378 | |
| Operating Profit | 26 | 34 | 30 | 13 | 28 | 33 | 34 | 53 |
| OPM % | 10% | 10% | 9% | 5% | 9% | 11% | 11% | 12% |
| 2 | 0 | 0 | 1 | 0 | 5 | 1 | 2 | |
| Interest | 10 | 12 | 15 | 15 | 14 | 19 | 20 | 26 |
| Depreciation | 6 | 6 | 7 | 8 | 8 | 7 | 7 | 8 |
| Profit before tax | 12 | 17 | 8 | -9 | 6 | 13 | 8 | 21 |
| Tax % | 26% | 25% | 19% | -28% | 17% | 22% | -43% | 37% |
| 9 | 12 | 7 | -7 | 5 | 10 | 11 | 13 | |
| EPS in Rs | 5.09 | 7.01 | 3.68 | -3.52 | 2.72 | 5.46 | 4.65 | 5.41 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 5% |
| 3 Years: | 12% |
| TTM: | 42% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 16% |
| 3 Years: | 38% |
| TTM: | 16% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 35% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 6% |
| 3 Years: | 10% |
| Last Year: | 10% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 18 | 18 | 18 | 19 | 19 | 19 | 25 | 25 |
| Reserves | 32 | 44 | 50 | 45 | 50 | 60 | 105 | 118 |
| 116 | 143 | 151 | 168 | 164 | 154 | 151 | 178 | |
| 60 | 80 | 107 | 81 | 68 | 99 | 110 | 139 | |
| Total Liabilities | 225 | 285 | 326 | 312 | 301 | 332 | 390 | 460 |
| 50 | 71 | 83 | 78 | 82 | 77 | 96 | 90 | |
| CWIP | 14 | 0 | 0 | 0 | 0 | 6 | 0 | 0 |
| Investments | 19 | 19 | 19 | 19 | 19 | 0 | 0 | 0 |
| 142 | 195 | 223 | 215 | 199 | 248 | 295 | 369 | |
| Total Assets | 225 | 285 | 326 | 312 | 301 | 332 | 390 | 460 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| 9 | -0 | 12 | 5 | 31 | 13 | 9 | 1 | |
| -19 | -13 | -20 | -2 | -12 | 17 | -18 | -1 | |
| 10 | 13 | 8 | -3 | -18 | -29 | 10 | 1 | |
| Net Cash Flow | 0 | -0 | 0 | -0 | -0 | -0 | 0 | 1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 80 | 77 | 80 | 80 | 69 | 110 | 107 | 95 |
| Inventory Days | 134 | 155 | 188 | 240 | 199 | 220 | 244 | 213 |
| Days Payable | 103 | 106 | 131 | 124 | 91 | 140 | 159 | 133 |
| Cash Conversion Cycle | 111 | 126 | 137 | 196 | 177 | 190 | 191 | 174 |
| Working Capital Days | 114 | 27 | 29 | 55 | 49 | 73 | 108 | 90 |
| ROCE % | 15% | 11% | 2% | 9% | 11% | 11% | 16% |
Documents
Announcements
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Appointment
15 October 2025 - 15 Oct 2025: Megha Tushar Mehta appointed Additional Director; CFO and spouse of MD.
-
Resignation
15 October 2025 - Uttamchand Chandanmal Mehta resigned as Whole-Time Director effective 30 September 2025.
-
Outcome of Board Meeting
15 October 2025 - Resignation of Whole-Time Director Uttamchand Mehta effective 30 Sep 2025; Megha Mehta appointed Executive Director on 15 Oct 2025.
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Outcome of Board Meeting
15 October 2025 - Resignation of WTD Uttamchand Mehta effective 30 Sep 2025; Megha Mehta appointed Additional Executive Director on 15 Oct 2025.
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Certificate under SEBI (Depositories and Participants) Regulations, 2018
14 October 2025 - Reg 74(5) certificate: no physical share certificates received for demat for quarter ended 30 Sept 2025.
Business Overview:[1][2][3]
a) MAL is the flagship company of Unison Metal Limited group
b) It is an ISO 9001:2015 and PED certified, and also recognized as Two Star Export House by DGFT, India.
c) Company manufactures various types of Steel products in 15+ international grades and in size range from 3mm to 400mm Black Round Bars, SS RCS, Forging, Hexagonal and Square, Bars, Steel Ignots, Bright Round Bar, Fasteners, Flat Bars, and Angle Bars
d) Their business model is B2B including Oil and Gas, Pump Sector, Engineering Sector