Mangalam Worldwide , a key player in the manufacturing sector, has reported a robust financial performance for the second quarter of the current fiscal year. The company's results show significant growth across key financial metrics, indicating a strong market position and operational efficiency.

Financial Highlights

Profit and Revenue Growth

Mangalam Worldwide has demonstrated impressive growth in its bottom line, with net profit rising to ₹105.00 million in the second quarter. This represents a substantial 51.5% increase from the ₹69.30 million reported in the same quarter of the previous year. The company's top-line performance was equally strong, with revenue climbing to ₹3.17 billion, up from ₹2.38 billion year-over-year, marking a 33.2% growth.

Operational Efficiency

The company's operational efficiency has shown notable improvement, as evidenced by the growth in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). EBITDA for the quarter stood at ₹208.00 million, a significant jump from ₹126.00 million in the corresponding quarter last year, reflecting a 65.1% increase.

Margin Expansion

Mangalam Worldwide has also succeeded in expanding its profit margins. The EBITDA margin improved to 6.57% in the current quarter, up from 5.30% in the same period last year. This 127 basis points improvement in margin suggests enhanced operational efficiency and potentially better cost management by the company.

The robust financial performance across all key metrics indicates that Mangalam Worldwide has maintained strong momentum in its business operations, despite potential challenges in the broader economic environment.

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.