Company Overview

Mangalam Drugs & Organics Limited is a key player in the manufacturing and sale of Active Pharmaceutical Ingredients (APIs) and intermediates within India. The company's core business involves producing chemicals such as APIs, perfumery compounds, disperse dye intermediates, and bulk drugs. Notably, it is one of the few Indian companies approved by the World Health Organization (WHO) and associated with the William J. Clinton Foundation for the manufacture of anti-malarial drugs.

The company operates manufacturing facilities in Vapi, Gujarat, and Sangamner, Maharashtra, complemented by an in-house Research and Development (R&D) base. Mangalam Drugs & Organics actively participates in the 'Fight Malaria' program, supplying anti-malarial APIs globally.

The product portfolio includes essential APIs like Chloroquine Phosphate I.P., Aluminum Chloride Anhydrous, and various dyes and intermediaries. Key API products in their offering are Acyclovir, Amodiaquine HCI, Artemether, Artesunate, Atazanavir Sulfate, Atorvastatin Calcium, Bisoprolol Fumarate, and Furosemide. Their intermediate products include compounds such as 4,6-Dichloro-5-Methoxy Pyrimidine, 2-Dibutylamino-1-Ethanol (DBA), 4,7-Dichloroquinoline, Ortho Phenoxy Methane Sulfonanilide, Tenofovir Alafenamide Base, and Tenofovir Disoproxil Base.

Corporate History and Structure

Mangalam Drugs and Organics Ltd was initially incorporated on April 18, 1972, as a private limited company named Advent Pharma Pvt Ltd. On July 1, 1997, the company's name was changed to Mangalam Drugs and Organics Pvt Ltd. Subsequently, on August 10, 2001, it was converted into a public limited company.

Over the years, the company has demonstrated significant expansion in its production capabilities. Between the fiscal years 2003-04 and 2009-10, its bulk drug production capacity increased from 350 MTPA to 1260 MTPA. During this period, the company also developed and introduced two new bulk drugs: Bisoprolol Fumarate and Pantaprazole Sodium.

The company is led by Govardhan M Dhoot as Chairman and Anuradha Pandey as Company Secretary. Its registered office is located at 3rd Floor Rupam Building, 239 P D Mello Road, Mumbai, Maharashtra, 400001.

Financial Performance

Market Capitalization and Valuation Metrics

Mangalam Drugs And Organics Ltd has a market capitalization of ₹125 Cr as of March 26, 2025. The company is listed and trades on both the NSE and BSE under the stock symbol MANGALAM.

Key valuation metrics as of recent dates include:

- PE Ratio: 11.72

- PB Ratio: 0.81

Recent Financial Results

The company's recent financial performance has shown mixed trends.

For the fiscal year ending March 2025, Mangalam Drugs reported a decline in net sales by 28.56% to Rs 73.04 crore, with net profit decreasing by 95.74% to Rs 0.15 crore. Earnings Per Share (EPS) dropped to Rs 0.10 from Rs 2.24 in the same period.

For Q4 FY25 (Quarter ended March 2025):

- Revenue: ₹72.78 Cr

- Net Profit: ₹0.06 Cr

Looking at quarterly performance, the Net Profit for the quarter ended December 2024 rose by 180.00% to Rs 1.40 crore compared to Rs 0.50 crore in the quarter ended December 2023. However, sales declined by 8.76% to Rs 88.55 crore in the quarter ended December 2024 from Rs 97.05 crore in the previous year's corresponding quarter.

For the full financial year 2023-24, Mangalam Drugs and Organics Ltd posted a net loss of Rs -9.07 crore on a total income of Rs 368.59 crore.

Shareholding Pattern

As of the last reported quarter (March 2025), the shareholding pattern for Mangalam Drugs and Organics Ltd indicates:

- Promoter Holding: 50.3% (decreased slightly from 50.32% in June 2024)

- FII Holding: 0.5%

- Public Holding: 49.2%

Stock Performance

The stock has experienced challenges in recent periods.

- 52-Week High: ₹144.65

- 52-Week Low: ₹70.11

Historical stock performance shows:

- Last 1 Month: Increased by 2.79% on BSE

- Last 3 Months: Decreased by 28.91% on BSE

- Last 12 Months: Decreased by 18.52% on BSE

- Last 3 Years: Decreased by 26.28% on BSE

Recent Corporate Developments

The company has been focused on enhancing its corporate governance and financial standing.

- Board Meeting Outcome: A board meeting held on April 11, 2025, approved the appointment of a Chief Financial Officer (Key Managerial Personnel) effective April 11, 2025.

- Credit Rating Upgrade: Mangalam Drugs and Organics has received an upgrade in its credit ratings from CRISIL:

- Long-term rating: CRISIL BBB-; Stable (upgraded from CRISIL BB+; Stable)

- Short-term rating: CRISIL A3 (upgraded from CRISIL A4+)

Industry Position and Peers

Mangalam Drugs and Organics Ltd (MANGALAM) operates within the Health Care sector and specifically the Pharmaceuticals sub-sector.

Key peers within the Health Care sector include: Astal Lab, Smruthi Organic, Murae Organisor, Mangalam Drugs, Samrat Pharma, Parnax Lab, and Source Natural.

The company holds a strategic position in a specialized niche of the pharmaceutical industry, focusing on the production of anti-malarial drugs and APIs. Its WHO approval and association with the William J. Clinton Foundation underscore its significant contribution to the global fight against malaria through its pharmaceutical products.