Mangalam Worldwide Limited has appointed Mr. Pankaj Kumar Sahay as its Europe Business Head effective June 01, 2026, to steer its international growth initiatives. The appointment, approved by the Board via a circular resolution on the recommendation of the Nomination and Remuneration Committee, aligns with the company's strategy to establish a business presence in Europe. Mr. Sahay will also be appointed as a Director in the proposed wholly owned subsidiary that the company is currently incorporating in Belgium or the Netherlands. This strategic move aims to leverage his extensive experience to facilitate long-term growth and operational efficiencies in the European steel industry.

The company is in the process of incorporating a wholly owned subsidiary in Belgium, the Netherlands, or another European country to expand its international presence. The proposed entity will operate within the steel industry and undertake activities aligned with Mangalam Worldwide's existing business operations. The incorporation is subject to the receipt of necessary regulatory approvals and compliance with statutory formalities. Mangalam Worldwide intends to hold 100% of the shareholding and control in the proposed subsidiary, with the consideration to be intimated upon incorporation.

Mr. Pankaj Kumar Sahay brings over 27 years of experience in managing B2B industrial and steel businesses across Europe and India. Prior to this appointment, he was associated with Jindal Stainless Limited and Tata International, gaining extensive experience in international trade, global business development, and EU trade regulations. Within the Jindal Group, he served as Chief Executive Officer and Board Member of Iberjindal S.L., Spain, and led the European operations of Jindal Stainless Limited. He holds a B.Tech in Manufacturing Engineering from the National Institute of Advanced Manufacturing Technology, Ranchi, and an MBA in Marketing from SMU.

Key Details of Appointment and Subsidiary

The following table outlines the key parameters of the appointment and the proposed subsidiary:

The transaction will not fall within related party transactions initially, as the promoters and promoter group have no interest in the entity. However, upon the allotment of shares, the wholly owned subsidiary will become a related party to the company. Mr. Sahay is not related to the promoters or any members of the Board of Directors of the company or their relatives, and he does not hold any shareholding in the company.

The Government of India unveiled a ₹5 commemorative postage stamp on June 1, 2026, honouring Late Shri Tejmal Ji Mangal, the founder of the Mangal family business legacy. The ceremony took place at the headquarters of mangalam worldwide in Ahmedabad, marking the 84th anniversary of the business foundation established on June 1, 1942. The stamp serves as a tribute to the founder's entrepreneurial vision and the diversified industrial legacy that includes Mangalam Worldwide Limited, a stainless-steel manufacturer and exporter.

The event was attended by Mr. Vipin Prakash Mangal, Chairman of Mangalam Worldwide Limited, along with the fourth generation of the family, Mr. Chandragupt Prakash Mangal and Mr. Chanakya Prakash Mangal. Distinguished guests from the Department of Posts, including Shri Ganesh V. Sawaleshwarkar, Chief Postmaster General, Gujarat Circle, and Shri Krishna Kumar Yadav, Postmaster General, Headquarters Region, Ahmedabad, were present at the unveiling.

Mr. Vipin Prakash Mangal, Chairman, Mangalam Worldwide Limited, stated that the unveiling was a proud moment for the family. He highlighted that Late Shri Tejmal Ji Mangal laid the foundation of the journey in 1942 with values of integrity, perseverance, and commitment. He noted that the honour recognises a journey nurtured across four generations and belongs to family members, employees, partners, and stakeholders.

The Mangal family business began as a modest trading venture and has grown over eight decades into a respected business group. The group contributes to India's industrial and economic development while maintaining the principles established by its founder. The commemorative stamp symbolises the founder's contribution to Indian enterprise and a legacy that has remained resilient and growth-oriented.

Mangalam Worldwide Limited, established in 1995, is a fully integrated stainless steel manufacturer. Its operations range from scrap melting to the manufacturing of seamless pipes and tubes. The company produces stainless steel billets, ingots, flat bars, round bars, bright bars, heat exchanger tubes, and U-tubes across four plants in Gujarat.

The company's infrastructure covers over 1,25,000 square meters and employs a skilled workforce of over 750 people. Mangalam Worldwide Limited is positioned to meet the growing demand for stainless steel products.