Mangal Electrical Industries Ltd
Incorporated in 2008, Mangal Electrical Industries Ltd manufactures and supplies different transformer components.[1]
- Market Cap ₹ 681 Cr.
- Current Price ₹ 246
- High / Low ₹ 483 / 206
- Stock P/E 15.2
- Book Value ₹ 220
- Dividend Yield 0.00 %
- ROCE 14.6 %
- ROE 11.3 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 1.12 times its book value
- Company has delivered good profit growth of 109% CAGR over last 5 years
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 95.5 to 129 days.
- Working capital days have increased from 119 days to 225 days
* 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 Electrical Equipment Other Electrical Equipment
Part of BSE Industrials Nifty IPO
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 208 | 121 | 218 | 354 | 449 | 549 | 580 | 630 | |
| Sales growth | -42% | +80% | +62% | +27% | +22% | +6% | +15% | |
| 194 | 109 | 198 | 310 | 407 | 467 | 511 | 567 | |
| Operating Profit | 14 | 12 | 21 | 44 | 43 | 82 | 68 | 63 |
| OPM % | 7% | 10% | 9% | 13% | 9% | 15% | 12% | 10% |
| 4 | 1 | 1 | 4 | 3 | 2 | 7 | 10 | |
| Interest | 10 | 9 | 10 | 11 | 13 | 15 | 12 | 7 |
| Depreciation | 4 | 3 | 3 | 4 | 4 | 5 | 6 | 5 |
| Profit before tax | 5 | 1 | 8 | 33 | 28 | 64 | 58 | 60 |
| Tax % | 36% | 4% | 24% | 25% | 25% | 26% | 26% | |
| 3 | 1 | 6 | 25 | 21 | 47 | 43 | 45 | |
| EPS in Rs | 2.03 | 0.74 | 4.19 | 17.06 | 14.45 | 23.08 | 15.62 | 16.15 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 37% |
| 3 Years: | 18% |
| TTM: | 15% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 109% |
| 3 Years: | 20% |
| TTM: | 0% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -47% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 19% |
| 3 Years: | 18% |
| Last Year: | 11% |
Balance Sheet
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 14 | 14 | 14 | 14 | 14 | 20 | 28 | 28 |
| Reserves | 31 | 32 | 39 | 79 | 100 | 142 | 563 | 581 |
| 88 | 106 | 83 | 97 | 92 | 149 | 45 | 50 | |
| 54 | 32 | 51 | 31 | 39 | 55 | 71 | 85 | |
| Total Liabilities | 188 | 185 | 187 | 221 | 247 | 366 | 707 | 744 |
| 32 | 30 | 31 | 34 | 40 | 39 | 70 | 79 | |
| CWIP | 0 | 0 | 0 | 0 | 2 | 9 | 10 | 20 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 156 | 155 | 156 | 187 | 205 | 318 | 628 | 645 | |
| Total Assets | 188 | 185 | 187 | 221 | 247 | 366 | 707 | 744 |
Cash Flows
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| -16 | -1 | 37 | 27 | 37 | -30 | -101 | |
| -1 | -10 | -2 | 4 | -13 | -18 | -158 | |
| 17 | 9 | -33 | -34 | -18 | 42 | 264 | |
| Net Cash Flow | 0 | -1 | 1 | -2 | 6 | -7 | 5 |
| Free Cash Flow | -17 | -2 | 32 | 24 | 25 | -42 | -138 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -101% | -4% | 177% | 76% | 105% | -15% | -131% |
Ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 173 | 203 | 112 | 90 | 72 | 86 | 129 |
| Inventory Days | 266 | 147 | 112 | 83 | 131 | 158 | |
| Days Payable | 118 | 91 | 27 | 26 | 32 | 35 | |
| Cash Conversion Cycle | 173 | 351 | 168 | 175 | 129 | 184 | 252 |
| Working Capital Days | 102 | 175 | 71 | 98 | 61 | 72 | 225 |
| ROCE % | 7% | 13% | 27% | 21% | 30% | 15% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Amorphous Processing Capacity MT |
|
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| CRGO Installed Capacity MT |
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| CRGO Processing Volume MT |
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| ICB Installed Capacity units |
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| Transformer Effective Installed Capacity KVA |
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| Top 10 Customer Concentration % |
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| Order Book INR Crores |
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Extracted by Screener AI
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
- Newspaper publication-Unaudited Financial Results(standalone) for the quarter and half year ended on September 30, 2026.
-
Statement Of Deviation And Variation For The Quarter Ended September 30, 2026
- September 30, 2026 quarter: no deviation in utilization of ₹40,000 lakh IPO proceeds.
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
- Mangal Electrical reported Q2 FY27 revenue of ₹168.6 crore and plans ₹25 crore radiator facility by H1 FY28.
- Unaudited Financial Results Q2 2026-2027.
-
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
- Board approved Q2FY27 standalone results; noted IPO proceeds utilization, and designated COO CRGO as SMP.
Concalls
-
May 2026PPT
Business Overview:
a) Product Processing & Trading:[1]
MEIL processes transformer components like CRGO coils, cut laminations, core assemblies, amorphous cores, and circuit breakers. Additionally, the company trades in CRGO /CRNO coils and amorphous ribbons for power infrastructure.
b) Manufacturing & Services:
The company manufactures a wide range of transformers, from single-phase 5 KVA to three-phase 10 MVA units. Furthermore, MEIL provides turnkey EPC services for setting up electrical substations.