Mangalam Cement Limited (MCL) has filed an insurance claim for approximately $5.4 million following the non-delivery of a 55,000 MT petroleum coke shipment from Venezuela. The company opened irrevocable letters of credit for 90% of the cargo's value but the shipment never reached Kandla Port, India. MCL has taken legal action against various parties involved in the transaction. Despite this challenge, the company reported strong financial results for Q1 FY2026, with revenue up 18.70% and net profit increasing by 89.06% year-over-year.
08Aug 25
Mangalam Cement Reports 89% Jump in Net Profit, Discloses $5.4M Cargo Delivery Issue
Mangalam Cement reported impressive financial results for the quarter with an 18.70% increase in revenue to ₹45,174.26 lakhs and an 89.00% surge in net profit to ₹3,225.93 lakhs. Earnings per share rose to ₹11.73. However, the company is facing a significant challenge with the non-delivery of petroleum coke cargo worth $5.4 million from AUM Commodities FZCO. Mangalam Cement has filed an insurance claim and initiated legal actions to address this issue.
08Jul 25
Mangalam Cement Emerges as Top Bidder for Rajasthan Mining Block
Mangalam Cement Ltd. has emerged as the top bidder for the Nimana-Duniya mining block in Rajasthan, potentially expanding its mining operations. This strategic move could secure a steady supply of raw materials, potentially reduce costs, and strengthen the company's position in the cement industry. The acquisition, if finalized, may lead to improved resource security and possible expansion of production capacity.
10May 25
Mangalam Cement Reports Q4 Results, Dividend Declaration, and EBITDA Growth
Mangalam Cement Ltd. released Q4 FY23 results showing mixed performance. Revenue increased 14.32% YoY to ₹5.03 billion. Net profit slightly decreased by 2.31% YoY to ₹169.00 million. EBITDA grew to ₹542.00 million with improved margin at 10.77%. The company declared a dividend of ₹1.50 per share. Quarter-on-quarter profit showed significant improvement from ₹78.00 million in Q3 FY23 to ₹169.00 million in Q4 FY23.