Mangalam Organics Limited has announced its unaudited financial results for the third quarter ended December 31, 2025. The Board of Directors approved these results at their meeting held on February 12, 2026, following review and recommendation by the Audit Committee.

Standalone Financial Performance

The company's standalone operations showed mixed results for Q3FY26. Revenue from operations reached Rs 12,244.57 lakhs, representing a significant increase from Rs 10,052.72 lakhs reported in Q3FY25.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, Mangalam Organics demonstrated strong revenue growth. The company achieved revenue from operations of Rs 36,621.19 lakhs compared to Rs 30,588.09 lakhs in the corresponding period of the previous year.

Consolidated Results

The consolidated financial results, which include wholly owned subsidiaries Mangalam Brands Private Limited, Mangalam Pooja Stores Private Limited, and Mangalam Speciality Chemicals Private Limited, showed robust performance. Consolidated revenue from operations for Q3FY26 stood at Rs 16,429.84 lakhs versus Rs 12,391.66 lakhs in Q3FY25.

Cost Structure and Operational Metrics

The company's cost structure showed variations across different expense categories. Cost of material consumed for Q3FY26 standalone operations was Rs 7,721.98 lakhs compared to Rs 8,407.35 lakhs in Q3FY25. Employee benefit expenses increased to Rs 889.44 lakhs from Rs 797.69 lakhs year-on-year. Finance costs rose to Rs 707.72 lakhs in Q3FY26 from Rs 544.78 lakhs in the corresponding quarter of the previous year.

Corporate Governance and Compliance

The financial results were prepared in accordance with Indian Accounting Standards (Ind-AS) prescribed under Section 133 of the Companies Act, 2013. The statutory auditors NGST & Associates conducted a limited review of both standalone and consolidated results. The company operates primarily in the chemicals segment, with segment-wise reporting under Ind-AS-108 not being applicable due to having only one reportable segment.

The paid-up equity share capital remained unchanged at Rs 856.44 lakhs with a face value of Rs 10 per share. The results are also available on the company's website at www.mangalamorganics.com .

Mangalam Organics witnessed significant institutional selling on Wednesday as multiple investors executed bulk deals worth over ₹1.60 crore. The microcap pharmaceutical stock saw prominent investor Vijay Kedia's investment firm among the key sellers, despite the stock posting gains during the trading session.

Major Bulk Deal Transactions

The bulk deal activity involved several institutional investors exiting their positions in the company:

Kedia Securities Private Limited, the investment firm of well-known investor Vijay Kedia, sold approximately 1.38 lakh shares worth ₹48.35 lakh, representing the largest single transaction among the bulk deals.

Stock Performance and Technical Indicators

Despite the institutional selling pressure, shares of Mangalam Drugs surged 5.00% during Wednesday's trading session to settle at ₹35.18 on the NSE. The stock has experienced significant volatility over different time periods, with contrasting performance trends.

The company's shares have declined 69.00% over the past 12 months, reflecting substantial erosion in market value. However, recent weeks have shown a recovery pattern, with the stock jumping nearly 40.00% over the past month, indicating renewed investor interest.

Technical Analysis Overview

The current market positioning shows mixed technical signals:

The stock is trading below both its 50-day and 200-day simple moving averages, suggesting the recent rally has not yet overcome longer-term resistance levels. The Money Flow Index around 90 indicates the counter is in a strongly overbought zone, as readings above 70 are typically considered overbought.

Financial Performance Update

The company's recent financial results reflect challenging operating conditions. For the quarter ended September 30, 2025, Mangalam Drugs reported a consolidated net loss of ₹7.40 crore, marking a significant deterioration from the profit after tax of ₹2.70 crore recorded in the corresponding quarter of the previous financial year.

Revenue performance also showed weakness, with total revenue declining to ₹50.00 crore in the quarter under review, representing a 38.00% decrease from ₹80.00 crore posted in the same quarter of the last financial year.

Company Background

Mangalam Drugs is a Gujarat-based pharmaceutical company that began manufacturing Active Pharmaceutical Ingredients and Intermediates in 1977. The company operates multi-product manufacturing facilities across two locations and maintains an in-house Research & Development laboratory to support its operations in the pharmaceutical sector.