Mangalam Worldwide , a prominent stainless-steel manufacturer, marked a significant milestone in its corporate journey as it successfully migrated from the SME platform to the mainboard of the National Stock Exchange (NSE) on Thursday. This strategic move involves the listing of 2,97,00,674 equity shares, each with a face value of Rs 10.00.

Enhanced Market Presence

The transition to the NSE mainboard is expected to substantially boost Mangalam Worldwide's market presence and accessibility to a broader investor base. Chandragupt Prakash Mangal, the Managing Director of the company, expressed confidence in this development, stating that it "reaffirms market confidence in their business fundamentals and growth strategy."

Anticipated Benefits

The migration is poised to bring several advantages to the company:

1. Increased Visibility: Listing on the mainboard is likely to attract more attention from institutional investors and market analysts.
2. Wider Investor Access: The move opens doors to a larger pool of potential investors, both domestic and international.
3. Enhanced Liquidity: Trading on the mainboard could potentially improve the liquidity of the company's shares.
4. Operational Scaling: The transition aligns with Mangalam Worldwide's strategy to scale its operations.
5. Export Expansion: The company aims to leverage this platform to expand its export activities.

Company Background

Established in 1995, Mangalam Worldwide has carved a niche for itself as an integrated stainless-steel manufacturer. The company's product portfolio includes:

• Billets and ingots
• Flats and angle bars
• Seamless pipes and tubes
• U-tubes

This diverse range of products underscores the company's comprehensive approach to stainless steel manufacturing.

The successful transition from the SME platform to the NSE mainboard represents a significant step forward for Mangalam Worldwide. As the company embarks on this new phase, stakeholders will be keenly watching how it capitalizes on the expanded opportunities and navigates the challenges that come with increased market exposure.

Mangalam Worldwide , a prominent stainless-steel manufacturer, has reported a robust financial performance for the first quarter. The company's profit after tax soared by 68%, reaching Rs 10.13 crore, marking a significant improvement in its bottom line.

Financial Highlights

The Gujarat-based integrated stainless steel manufacturer demonstrated strong growth across key financial metrics:

The company's total income witnessed a healthy 21% year-on-year growth, rising to Rs 279.41 crore from Rs 230.21 crore in the same quarter of the previous fiscal year. Notably, the adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) saw a substantial increase of 53.04%, reaching Rs 19.72 crore compared to Rs 12.88 crore in the corresponding period last year.

Improved Operational Efficiency

Mangalam Worldwide's EBITDA margins exceeded 7.10%, indicating enhanced operational efficiency. This improvement in profitability metrics underscores the company's ability to manage costs effectively while driving growth.

Management Commentary

Chairman Vipin Prakash Mangal attributed the company's impressive performance to two key factors:

1. Improved efficiencies across operations
2. Rising demand for stainless steel in key markets

Company Overview

Mangalam Worldwide operates as an integrated stainless steel manufacturer, with a comprehensive range of operations. The company's vertical integration spans from scrap melting to the manufacturing of seamless pipes and tubes, positioning it strongly in the stainless steel value chain.

The robust Q1 results reflect Mangalam Worldwide's strong market position and its ability to capitalize on the growing demand for stainless steel products. As the company continues to leverage its integrated manufacturing capabilities, it appears well-positioned to benefit from the positive trends in the stainless steel industry.