Mangalam Postal Ballot Opens for Stock Split

Mangalam Worldwide Limited has commenced the postal ballot process to seek shareholder approval for the proposed sub-division of its equity shares. The company's Board had previously approved the 1:10 stock split, reducing the face value from ₹10 to ₹1 per share, subject to regulatory and shareholder consent.

Postal Ballot Schedule

The remote e-voting period for the postal ballot opened on May 22, 2026, at 09:00 A.M. IST and will conclude on June 20, 2026, at 05:00 P.M. IST. Shareholders recorded in the Register of Members as of the cut-off date, May 15, 2026, are eligible to participate. The company has engaged MUFG Infine India Private Limited to facilitate the e-voting through the InstaVote Platform.

Stock Split and Share Capital

The proposed split aims to enhance liquidity and widen the shareholder base. Following the sub-division, the total authorized share capital will remain unchanged at ₹44,52,80,000, comprising 39,75,00,000 equity shares of ₹1 each. The Board has also approved the alteration of the Capital Clause of the Memorandum of Association to reflect this change.

Parameter	Details
Split Ratio	1:10
Existing Face Value	₹10 per share
Revised Face Value	₹1 per share
Cut-off Date	May 15, 2026
E-Voting Start	May 22, 2026
E-Voting End	June 20, 2026

Financial Performance

Mangalam Worldwide reported a revenue of ₹1,214.98 crore and a Profit After Tax (PAT) of ₹50.14 crore for FY26. The Board has recommended a final dividend of ₹0.30 per equity share for the fiscal year. Additionally, the company is pursuing a direct listing on the Main Board of BSE.

Scrutinizer Appointment

M/s. Manoj Hurkat and Associates, Practicing Company Secretaries, have been appointed as the Scrutinizer to ensure the postal ballot and remote e-voting process is conducted fairly. The results will be announced within two working days after the conclusion of voting.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.04%	+0.82%	+8.51%	+45.92%	+127.05%	+271.18%

Mangalam Worldwide Limited has reported a robust financial performance for FY26, with Profit After Tax (PAT) increasing by 70% year-on-year to ₹50.14 crore, up from ₹29.53 crore in FY25. The fully integrated stainless steel manufacturer achieved a total income of ₹1,214.99 crore, a 14% rise from ₹1,066.03 crore in the previous fiscal year. EBITDA for the year stood at ₹97.84 crore, reflecting an improved margin of 8.05% compared to 5.63% in FY25. The Diluted EPS rose to ₹16.87 from ₹10.29 in the prior year.

Board Decisions and Corporate Actions

Following the board meeting on April 29, 2026, the directors approved the audited financial results for the quarter and year ended March 31, 2026. The board recommended a final dividend of ₹0.30 per equity share, representing 3% of the face value of ₹10 per share, subject to shareholder approval at the upcoming Annual General Meeting. Additionally, the board approved a proposal for the direct listing of the company's shares on the Main Board of BSE Limited, pending necessary approvals.

In key organizational changes, Mr. Chanakya Prakash Mangal's designation was changed from Managing Director to Director (Non-Executive Non Independent Director) effective April 29, 2026. The board also appointed new auditors for the fiscal year 2026-27. M/s. S S Rawat & Co. was appointed as the Internal Auditor, and M/s. V. M. Patel & Associates was appointed as the Cost Auditor.

Board Decision:	Details
Final Dividend:	₹0.30 per equity share (3% of face value)
BSE Listing Proposal:	Direct listing on Main Board approved
Leadership Change:	Chanakya Prakash Mangal redesignated as Director (Non-Executive Non Independent)
Internal Auditor:	M/s. S S Rawat & Co. (FRN: 147356W)
Cost Auditor:	M/s. V. M. Patel & Associates (Firm Reg No: 101519)

FY26 and Q4 Financial Performance

The company's Q4 FY26 performance showed continued momentum, with total income reaching ₹266.51 crore. PAT for the quarter surged 81% year-on-year to ₹15.37 crore from ₹8.48 crore in Q4 FY25, while EBITDA for the quarter was recorded at ₹15.65 crore. The following tables summarise the key financial metrics:

Performance Metric:	FY26	FY25	FY24
Total Income (₹ Cr):	1,214.99	1,066.03	—
EBITDA (₹ Cr):	97.84	60.05	20.92
EBITDA Margin (%):	8.05%	5.63%	—
PAT (₹ Cr):	50.14	29.53	17.58
PAT Margin (%):	4.13%	2.77%	—
Diluted EPS (₹):	16.87	10.29	8.45

Q4 Performance:	Q4 FY26	Q4 FY25	Growth (%)
Total Income (₹ Cr):	266.51	324.56	—
EBITDA (₹ Cr):	15.65	—	—
PAT (₹ Cr):	15.37	8.48	+81%

Strategic Milestones and Ratios

FY26 was a year of strategic milestones, including the migration to the NSE Main Board in September 2025 and a credit rating upgrade to "A". The company expanded its global footprint by securing vendor approvals from SABIC and QatarEnergy. On the sustainability front, a 1.2 MW rooftop solar system was installed at the Kapadvanj facility, with a 10.42 MW ground-mounted solar project under implementation at Handod, Vadodara.

Financial ratios indicate strengthened balance sheet health. Net worth grew to ₹305.48 crore in FY26 from ₹139.69 crore in FY23. Return on Equity (ROE) improved to 17.68%, while Return on Capital Employed (ROCE) rose to 15.35%. The Book Value per share increased to ₹100.91 from ₹86.17 in the previous year.