Mangal Electrical Industries will hold its 18th Annual General Meeting (AGM) on Wednesday, August 26, 2026, at 2:00 P.M. IST. The meeting will be conducted exclusively through video conferencing (VC) or other audio-visual means (OAVM), without physical presence, in compliance with the Companies Act, 2013, and applicable regulatory circulars. This virtual format ensures broader accessibility for shareholders while adhering to current corporate governance standards.

The company published the notice of the AGM in Financial Express (English) and Nafa Nuksan (Hindi) on July 30, 2026, pursuant to Regulation 30 and Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Naresh Kumar Sharma, Company Secretary & Compliance Officer, confirmed the submission of the newspaper publication to the stock exchanges.

Meeting Details and Participation

Shareholders can join the AGM using the VC/OAVM facility provided by the company. Members holding shares in demat form must register or update their email IDs with their respective Depository Participants (DPs). Those holding shares in physical form should update their details directly with the company or its Registrar and Transfer Agent (RTA), Bigshare Services Private Limited.

Document Access and Voting

Electronic copies of the Annual Report for the financial year 2025-26 and the AGM notice are being sent only to members who have registered their email IDs with the company, DP, or RTA as of Friday, July 31, 2026. Physical copies are no longer mandatory under recent Ministry of Corporate Affairs (MCA) and SEBI circulars but can be requested by writing to compliance@mangals.com with folio or DP/Client IDs.

Members without registered email addresses will receive a letter containing the web link to access the full annual report. Remote e-voting and e-voting during the AGM will be facilitated through the RTA’s platform. Instructions for participation and voting will be included in the AGM notice available on the company’s website and the BSE and NSE portals.

Mangal Electrical Industries reported a net profit of ₹7.52 crore for the quarter ended June 30, 2026, marking a 101.5% year-on-year increase from ₹3.73 crore in Q1FY26. The surge was driven by a 40.3% rise in revenue from operations to ₹125.83 crore, supported by healthy volume growth in its core CRGO lamination business and improved contribution from transformers. EBITDA margin contracted to 8.85% from 11.12% due to lower CRGO realizations, though operational efficiencies and a change in depreciation accounting policy significantly boosted the bottom line.

The Board of Directors, chaired by Chairman & Managing Director Rahul Mangal, approved the unaudited standalone financial results on July 29, 2026, pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the Audit Committee and subjected to a limited review by statutory auditors A Bafna & Co. In addition to financial approvals, the Board appointed Ms. Neha Rathi as an Additional Director (Independent Category) effective July 29, 2026, subject to shareholder approval at the upcoming Annual General Meeting.

Financial Performance

Revenue from operations grew to ₹12,582.73 lakh in Q1FY27, compared to ₹8,966.00 lakh in the corresponding period of FY26. EBITDA rose to ₹111M rupees from ₹97M rupees in the year-ago period, while Profit After Tax (PAT) more than doubled. Earnings per share (EPS) increased to ₹2.72 from ₹1.82 in the previous year's quarter. Finance costs remained stable at ₹185.60 lakh.

The profit before tax increased by 99.1% to ₹1,009.79 lakh. Tax expense for the quarter was ₹257.57 lakh, comprising current tax of ₹164.79 lakh and deferred tax of ₹92.78 lakh.

Operational Drivers & Segment Analysis

The company achieved approximately 32% volume growth in CRGO during Q1FY27 compared to Q1FY26. However, CRGO realizations declined by approximately 18% year-on-year, impacting overall margins. Sequentially, CRGO prices increased by 5% compared to Q4FY26, with management noting early signs of price recovery after a year-long downtrend.

The Manufacturing & Trading segment, which includes electrical transformers and CRGO, contributed ₹11,400.74 lakh to revenue, up from ₹8,650.22 lakh in Q1FY26. This segment generated a result of ₹1,025.66 lakh before finance costs, depreciation, and other income. The EPC Contract segment saw revenue grow significantly to ₹1,181.99 lakh from ₹315.77 lakh, with segment results reaching ₹87.36 lakh compared to ₹7.49 lakh previously.

What the Numbers Show

A key driver of the improved bottom line was a change in depreciation method from Written Down Value (WDV) to Straight-Line Method (SLM) effective April 1, 2026. This accounting estimate change reduced depreciation expense by ₹1.30 crore, directly boosting profit before tax by the same amount. While operational revenue growth remains strong, nearly 17% of the reported pre-tax profit improvement stems from this non-cash accounting adjustment rather than pure operational leverage. Additionally, the expansion in transformer revenue — up 187% YoY — highlights the success of the company's capacity expansion strategy, even as component margins face pressure.

Corporate Governance & Outlook

The Board reappointed M/s SCLJ & Associates as Internal Auditors for FY27 and appointed M/s SKMG & Co. as Secretarial Auditors, subject to shareholder approval. Ms. Neha Rathi, an Associate Company Secretary with over 10 years of experience, joins the board as an Additional Independent Director. Her appointment is pending ratification via a special resolution at the 18th Annual General Meeting scheduled for August 26, 2026. The record date for the AGM is fixed as August 17, 2026.

Commenting on the performance, Mr. Rahul Mangal stated, "We have started FY27 on a positive note with strong operational performance, driven by healthy volume growth and improved contribution from our transformer business." He added that the transformer capacity expansion is progressing as planned and expected to be completed by the end of FY27. The company has also acquired industrial land adjacent to its existing manufacturing facility in Reengus, Rajasthan, to support future capacity expansion.

As of June 30, 2026, the company has utilized ₹31,509.37 lakh of its IPO proceeds, with ₹8,490.63 lakh remaining unutilised and held in bank accounts.