Mangalam Worldwide Limited (MWL) is a fully integrated stainless steel manufacturer, specializing in products from scrap melting to finished seamless pipes and tubes. Incorporated in 1995 and promoted by the Ahmedabad-based Mangalam Group, the company is certified with ISO-9001:2015, ISO-14001:2015, and ISO 45001:2018. MWL manufactures and trades steel products, alongside offering consultancy services. The company's product range includes billets, flat and round bars, and recently, bright bars, with advanced infrastructure comprising steel melting shops, rolling mills, and finishing machines.
The company has a history of corporate transformations: originally incorporated as `Temchem Exports Private Limited` in 1995, it was renamed `Hindprakash Exim Private Limited` in 2007, then `Mangalam Worldwide Private Limited` in 2014, before becoming `Mangalam Worldwide Limited` upon conversion to a public limited company in 2022.
Mangalam Worldwide operates a robust, fully integrated stainless steel manufacturing setup. Its infrastructure encompasses steel melting facilities, rolling mills, and advanced finishing equipment, enabling end-to-end production. In 2024, the company enhanced its capabilities by installing a bright bar manufacturing unit at Kapadvanj, allowing for the conversion of round bars to bright bars.
The company adheres to stringent international quality and safety standards, holding certifications for:
- ISO-9001:2015: Quality Management Systems
- ISO-14001:2015: Environmental Management Systems
- ISO 45001:2018: Occupational Health and Safety Management Systems
These certifications reflect Mangalam Worldwide's commitment to operational excellence, environmental stewardship, and workplace safety.
Mangalam Worldwide Ltd (MWL) is classified as a Small Cap company. As per the latest available data, its market capitalization is reported around ₹399 Cr to ₹506 Cr (with a 22.1% increase in market cap over 1 year noted alongside the 506 Cr figure). The company reported a revenue of ₹1,061 Cr and a profit of ₹29.4 Cr.
Vipin Prakash Mangal, Chairman of Mangalam Worldwide Limited, highlighted the strong performance in the first nine months of FY25, noting an impressive 89% year-on-year increase in net profit, attributed to operational efficiencies and strategic growth initiatives.
- TTM Profit After Tax: ₹29 Cr
- Market Capitalization: ₹399 Cr (as of 30-Apr-2025) / ₹506 Crore (latest available data)
- Revenue: ₹1,061 Cr (as per latest available data)
- Price-to-Book Ratio: 1.58 times (as on 30-Apr-2025), a 19% discount to peers
- Price-to-Earnings Ratio: 13.53 times (as on 30-Apr-2025), a 39% discount to peers
- Return on Equity: 13.6% over the last 3 years
- Debtor Days: Increased from 43.8 to 57.5 days
The stock has experienced volatility, with a return of -10.12% in the last 1 year. However, valuation metrics suggest attractive levels compared to industry peers.
Promoter holding in Mangalam Worldwide Ltd has shown an increase, rising to 67.41% as of March 2025 from 63.54% in September 2024. This upward trend in promoter stake signifies strong confidence in the company's future prospects and contributes to its strategic stability.
Mangalam Worldwide is actively pursuing growth and strategic expansions. The company is seeking shareholder approval to migrate its shares from the NSE SME platform to the main boards of NSE and BSE. This potential migration is a significant milestone, expected to enhance liquidity and attract institutional investors.
Additionally, the company will hold its Annual General Meeting (AGM) on August 4th, where key governance matters including dividend distribution, director appointments, and auditor approvals will be addressed. The company has also submitted its revised FY25 annual report.
As per Value Research classification, Mangalam Worldwide is a Small Cap company. Despite its classification, it demonstrates robust growth potential and operational performance. The company's valuation metrics, such as its Price-to-Earnings and Price-to-Book ratios, indicate that it trades at attractive levels, often at a discount compared to industry peer medians.
Operating in the capital-intensive metals and mining sector, Mangalam Worldwide is a fully integrated stainless steel manufacturer. Its end-to-end production capabilities—from scrap melting to finished goods—offer advantages in margin control and quality assurance over competitors reliant on external suppliers.
With a global customer base and international quality certifications, the company is well-positioned to compete in both domestic and export markets. The stainless steel industry's growth drivers, including infrastructure development, automotive applications, and industrial equipment demand, provide a favorable environment for Mangalam Worldwide's continued expansion and market presence.
