Company Overview

Manglam Infra & Engineering Limited (MIEL) is an ISO 9001:2015 certified engineering consultancy organization established in 2010. It delivers design, planning, engineering, consulting, and construction management solutions for highways, roads, bridges, tunnels, and buildings. The company was originally formed as a Partnership Firm named "Manglam Associates" on February 17, 2010, and was later converted into a Public Limited Company, "Manglam Infra & Engineering Limited," on July 20, 2023.

MIEL's core business is providing project management consultancy services, including Detailed Project Reports (DPRs), Supervision and Quality Control (SQC), and Operation & Maintenance (O&M) for Highways/Roads, Bridges, Tunnels, and Buildings/Urban development. The company undertakes projects independently and through Joint Ventures and MoUs. Additional services include rural & urban development, capacity building, environmental engineering, construction material testing, and geotechnical investigations.

Financial Performance and Key Metrics

The company has demonstrated robust financial growth over recent years. Between FY2023 and FY2024, Manglam Infra & Engineering Limited's revenue increased by 16.46% and profit after tax (PAT) rose by 22.06%. From FY2022 to FY2024, MIEL's revenue posted a Compound Annual Growth Rate (CAGR) of 22.98%, and Net Profit marked a CAGR of 42.53%.

The company is also nearly debt-free, which significantly strengthens its financial standing.

Financial Highlights (FY22 to FY24):

- Revenue: ₹26.78 crore (FY22), ₹34.78 crore (FY23), ₹40.51 crore (FY24)

- Net Profit (PAT): ₹3.33 crore (FY22), ₹5.54 crore (FY23), ₹6.76 crore (FY24)

- PAT Margins: 12.90% (FY22), 16.10% (FY23), 16.81% (FY24)

- RoCE Margins: 54.04% (FY22), 67.04% (FY23), 44.95% (FY24)

- Average EPS: ₹5.18

- Average RoNW: 54.10%

As of the latest available data, the company has a revenue of ₹40.2 crore and a profit of ₹6.76 crore. The total asset value stood at ₹33 crore as on March 31, 2024.

Market Performance and Valuation

As of May 2, 2025, the market capitalization of Manglam Infra & Engineering Ltd (MIEL) is ₹48.30 Cr. The company has been classified as a Small Cap company by Value Research.

- 52-Week High: ₹123.10

- 52-Week Low: ₹20.00

- P/E Ratio: 7.16

- P/B Ratio: 2.82

IPO Performance and Listing

Manglam Infra And Engineering IPO bidding took place from July 24, 2024, to July 26, 2024. The allotment was finalized on July 29, 2024, and the shares were listed on the NSE SME on July 31, 2024. The IPO price band was set at ₹56 per share.

The IPO was highly subscribed, reaching 246.97 times the offered amount. On listing day, shares of MIEL traded at ₹111.70 on the NSE, a premium of 99.46% over the issue price. The scrip initially listed at ₹106.40, a premium of 90% over the IPO price. Prior to the IPO, the company raised ₹7.40 crore from anchor investors on July 23, 2024.

Management and Shareholding

The Promoters of Manglam Infra & Engineering Ltd are Yogendra Kumar Singh, Ajay Verma, Nisha Singh, and Seema Verma.

- Chairman: Yogendra Singh

- Managing Director: Ajay Verma

- Promoter Holding: 72.0%

There is no promoter pledging reported for MIEL.

Operational Strengths and Business Reach

As of May 31, 2024, the company employed 272 individuals. Its Order Book, representing anticipated revenues from unexecuted contracts, stood at ₹78.91 crore as of the same date.

Manglam Infra and Engineering is managing 45 ongoing projects, of which 22 are independent and 23 are conducted through joint ventures and MoUs. To date, the company has successfully completed 127 projects, with 116 handled independently and 11 through collaborations.

The company has a strong presence across multiple states and serves prominent clients such as:

- National Highways Authority of India (NHAI)

- NHIDCL

- Public Works Department (various states)

- Madhya Pradesh Industrial Development Corporation (MPIDC)

- Border Roads Organization

- Bihar Rajya Pul Nirmal Nigam

- MP Warehousing & Logistics Corporation

- Ministry of Road Transport & Highways

- MSRDC

- Government of Jharkhand

- Maharashtra PWD

- Bihar Rural Road Development Authority

Key Financial Strengths

- Debt-Free Status: The company is almost debt-free, contributing to its financial resilience.

- Robust Margins: Net margins have been relatively robust, standing at 16.81% in FY24.

- Strong Returns: Return on Equity (ROE) was a strong 39.55% in FY24, and Return on Assets (ROA) was robust at 20.38% in FY24.

- Asset-Light Model: The business model is characterized by being relatively asset-light.

Areas of Concern

- High Debtors: The company exhibits high debtors, with an average collection period of 152 days.

_(Note: This analysis is machine-generated. Investors should conduct their own detailed research before making investment decisions.)_

Manglam Infra & Engineering Ltd operates effectively in the infrastructure consultancy sector, offering comprehensive project management services for diverse government and private sector projects. The company's solid financial performance, debt-free status, growing order book, and operational strengths position it favorably within India's expanding infrastructure development landscape.