Mangal Electrical Industries Reports Strong Q2 FY2026 Growth Post-IPO

Mangal Electrical Industries Limited (MEIL) has reported a robust financial performance for the second quarter of fiscal year 2026, marking its first quarterly results since its successful Initial Public Offering (IPO) in August 2025.

Revenue Surge and Profit Performance

The company witnessed a significant year-on-year growth in its revenue from operations for Q2 FY2026:

Particulars (in Rs. lakhs)	Q2 FY2026	Q2 FY2025	YoY Growth
Revenue from Operations	15,432.85	13,269.74	16.30%
Total Income	15,563.68	13,333.63	16.73%
Profit Before Tax	1,782.55	1,907.30	-6.54%
Profit After Tax	1,330.17	1,428.37	-6.88%

Despite the impressive top-line growth, the company experienced a slight dip in profitability compared to the same quarter last year. This could be attributed to increased operational costs and expenses related to the recent IPO.

Half-Yearly Performance

For the half-year ended September 30, 2025, MEIL reported:

Particulars (in Rs. lakhs)	H1 FY2026	H1 FY2025	YoY Growth
Revenue from Operations	24,398.83	24,701.79	-1.23%
Total Income	24,554.75	24,818.56	-1.06%
Profit Before Tax	2,289.77	2,647.73	-13.52%
Profit After Tax	1,705.44	1,973.27	-13.57%

The half-yearly results indicate a marginal decline in revenue and a more noticeable decrease in profitability compared to the previous year.

Balance Sheet Highlights

Post-IPO, MEIL's financial position has strengthened considerably:

Total Assets increased to Rs. 68,151.61 lakhs as of September 30, 2025, up from Rs. 36,646.36 lakhs on March 31, 2025.
Cash and Cash Equivalents saw a substantial rise to Rs. 10,318.80 lakhs from Rs. 43.96 lakhs.
Total Equity grew to Rs. 56,370.71 lakhs from Rs. 16,216.35 lakhs.

IPO Proceeds and Utilization

MEIL completed its IPO during the quarter, issuing 71,30,124 equity shares at Rs. 561 per share (including a premium of Rs. 551). The IPO raised a total of Rs. 40,000.00 lakhs. As of September 30, 2025:

Rs. 18,061.16 lakhs of the IPO proceeds have been utilized.
Rs. 21,938.84 lakhs remain unutilized and are held in bank accounts.

Management Commentary

Rahul Mangal, Chairman & Managing Director of MEIL, stated, "We are pleased with our performance in the first quarter post our IPO. The significant growth in our revenue demonstrates the strong demand for our products and the success of our expansion strategies. While we've seen some impact on our profitability due to increased costs and IPO-related expenses, we believe these are short-term effects. The capital raised from our IPO puts us in a strong position to fuel our future growth plans."

Market Response

MEIL's shares were listed on the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on August 28, 2025.

Outlook

With a strengthened balance sheet and significant cash reserves, Mangal Electrical Industries Limited appears well-positioned for future growth. However, investors will be keen to see how the company improves its profitability while maintaining its revenue growth in the upcoming quarters.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+5.82%	+3.59%	+4.80%	-11.09%	-11.09%	-11.09%

Mangal Electrical Industries Limited (MEIL) has announced the appointment of Mr. Ramkishan Bairwa as its new Chief Operating Officer (EPC), effective September 16, 2025. The decision was approved by the company's Board of Directors, following a recommendation from the Nomination and Remuneration Committee.

Extensive Industry Experience

Mr. Bairwa brings over three decades of expertise to his new role at MEIL. With more than 33 years of experience in managing EPC (Engineering, Procurement, and Construction) contracts in the Power Transmission & Distribution sector, he is poised to contribute significantly to the company's operations.

Educational Background

The newly appointed COO holds a Bachelor's Degree in Electrical Engineering from Delhi College of Engineering under Delhi University. Additionally, he has earned a Graduate Diploma in Materials Management from the Indian Institute of Material Management, Bangalore, further enhancing his qualifications for the role.

Professional History

Prior to joining Mangal Electrical Industries Limited, Mr. Bairwa has had an illustrious career, having been associated with several prominent companies in the industry. His previous engagements include:

Alstom Systems Limited
Teracom Limited
Vindhya Telelinks Limited
RAMA Prime Engineers & Construction Private Limited

Regulatory Compliance

In compliance with regulatory requirements, Mangal Electrical Industries Limited has confirmed that Mr. Ramkishan Bairwa has not been debarred from holding office by the Securities and Exchange Board of India (SEBI) or any other regulatory authority.

Company Performance

Coinciding with this appointment, Mangal Electrical Industries Limited also released its unaudited financial results for the quarter ended June 30, 2025. The company reported:

Metric	Amount (₹ crore)
Revenue from Operations	8,966.00
Total Income	8,991.07
Profit Before Tax	507.22
Profit for the Period	373.27

Market Listing

Mangal Electrical Industries Limited recently completed its Initial Public Offering (IPO) and was listed on the National Stock Exchange of India Limited (NSE) and BSE Limited on August 28, 2025. The IPO comprised a fresh issue of 71,30,124 equity shares with a face value of ₹10 each, aggregating to ₹713.01 crore, issued at a premium of ₹551 per equity share.

The appointment of Mr. Ramkishan Bairwa as COO (EPC) is expected to bring valuable expertise to Mangal Electrical Industries Limited as it navigates its journey as a newly listed public company in the power transmission and distribution sector.