Mangalam Worldwide Ltd has successfully commissioned a 10.4 MW DC ground-mounted solar power plant at its Halol Unit in Handod, Taluka Karjan, District Vadodara, Gujarat. This new installation, combined with the company's existing 1.2 MW rooftop solar installations, has raised its total operational solar capacity to 11.6 MW. The facility is intended for captive consumption, which is expected to significantly enhance the company's renewable energy generation capacity and support its sustainability objectives by reducing operational energy costs and improving energy independence.

The unified 11.6 MW solar footprint is projected to offset more than 12,500 metric tonnes of carbon dioxide (CO2) emissions annually. Operationally, substituting conventional grid electricity with captive solar power projects a significant reduction in electricity costs by 20% to 40%. Given that steel and engineering manufacturing are highly energy-intensive, this capital investment directly safeguards the company's bottom line from future utility price hikes.

Project Details

The installation aligns with the company's commitment to sustainable business practices. Key aspects of the commissioned project are outlined below:

The land for the solar power project has been secured on a long-term lease for a period of 25 years. By utilizing this plant, the company aims to lower its carbon footprint and contribute to the renewable energy targets of the country. The project is anticipated to deliver a positive environmental and social impact through reduced carbon emissions and benefits to the local community.

The company submitted the intimation regarding this commissioning to the National Stock Exchange of India Limited and BSE Limited on July 13, 2026, under Regulation 30 and 51 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Mangalam Worldwide Limited has scheduled its 30th Annual General Meeting (AGM) for Thursday, July 30, 2026, at 2:00 P.M. IST through video conferencing. The record date for determining eligibility for the final dividend and e-voting is Thursday, July 23, 2026. Remote e-voting will commence on July 27, 2026, and conclude on July 29, 2026. The meeting will cover the adoption of financial statements for the year ended March 31, 2026, and other routine and special business.

Financial Performance and Dividend

The company reported a robust financial performance for FY 2025-26, with consolidated total income rising to ₹1,21,498.82 Lakhs from ₹1,06,603.37 Lakhs in the previous year. Consolidated Profit After Tax (PAT) surged approximately 69.83% to ₹5,014.32 Lakhs, while standalone PAT increased by 70.14% to ₹5,004.70 Lakhs. The Board of Directors has recommended a final dividend of ₹0.30 per equity share of face value ₹10 each for FY 2025-26. If the proposed stock split from ₹10 to ₹1 per share is completed before payment, the dividend will be adjusted proportionally to ensure aggregate entitlement remains unchanged. The dividend is payable on or before August 29, 2026.

Corporate Actions and Resolutions

Shareholders will vote on several key resolutions. The Board has proposed the appointment of M/s. N.K. Aswani & Co. (FRN: 100738W) as statutory auditor for a term of five years, replacing the current auditor M/s. Keyur Shah & Co. Additionally, the AGM will seek ratification for the remuneration of ₹30,000 payable to M/s. V. M. Patel & Associates as Cost Auditor for the financial year ending March 31, 2027.

Special Business and Borrowing Limits

The notice includes special resolutions to significantly enhance the company's financial flexibility. Shareholders are asked to approve increasing the overall borrowing limits from ₹1,000 crore to ₹2,500 crore under Section 180(1)(c) of the Companies Act, 2013. Correspondingly, the company seeks approval to create charges on assets up to ₹2,500 crore under Section 180(1)(a). Another special resolution proposes authorizing the conversion of outstanding secured or unsecured loans and debt into equity shares, with a cap of ₹2,500 crore, subject to applicable regulations. Further resolutions seek approval to enhance limits for loans, investments, guarantees, and security under Sections 186 and 185 of the Companies Act, 2013, up to ₹2,500 crore.

Director Re-appointments

The agenda includes the re-appointment of Mr. Mohit Kailash Agrawal as Director, retiring by rotation. Ms. Pritu Gupta, an Independent Director, is proposed for re-appointment for a second term of five consecutive years effective February 21, 2027. The company has received necessary declarations and consents from both directors regarding their eligibility and independence.