Mangalam Worldwide Reports 68% Profit Surge in Q1
By ScanX News Team
Mangalam Worldwide, a stainless-steel manufacturer, posted strong Q1 results with a 68% increase in profit after tax to Rs 10.13 crore. Total income grew 21% year-on-year to Rs 279.41 crore, while adjusted EBITDA rose 53.04% to Rs 19.72 crore. The company's EBITDA margin improved to 7.10%, indicating enhanced operational efficiency. Chairman Vipin Prakash Mangal attributed the performance to improved operational efficiencies and rising stainless steel demand in key markets.
*this image is generated using AI for illustrative purposes only.
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:
| Metric | Q1 | Q1 Previous Year | YoY Change |
|---|---|---|---|
| Total Income | 279.41 | 230.21 | +21.00% |
| Adjusted EBITDA | 19.72 | 12.88 | +53.04% |
| Profit After Tax | 10.13 | - | +68.00% |
| EBITDA Margin | 7.10% | - | - |
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:
- Improved efficiencies across operations
- 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.
Historical Stock Returns for Mangalam Worldwide
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.31% | +2.21% | +15.63% | +26.54% | +39.10% | +80.40% |
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