Mangalam Cement Limited (MANGLMCEM)

Loading page…

Mangalam Cement Limited (MANGLMCEM) · mywealthgrid

About

Small cement manufacturer. Market cap ₹2,464.96 Cr, revenue ₹400–500 Cr quarterly. Thin 9.37% OPM, 5.42% ROE. PE 54.7 extreme despite 25% YoY return.

Face value: ₹10

Market cap

₹2,708 Cr

P/E

60.1×

P/B

3.2×

Dividend yield

0.2%

ROE

5.4%

ROCE

11.1%

Debt / equity

0.72

OPM

9.4%

EPS (TTM)

₹16.4

Book value

₹309.8

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Valuation concentration: PE 54.7 extreme for cement. Earnings miss or multiple compression trigger sharp downside
Profitability instability: Net profit ₹1.19–₹65.23 Cr over 12 months (55x swing). Clarify whether one-time items, seasonal, or operational
Margin shock risk: 9.37% OPM offers no cushion against material, energy, or freight cost inflation. Verify input cost trends
Cement cyclicality: Verify construction activity and capex spending indicators to assess cycle position

Generated analysis · source review pending

Growth drivers

Margin expansion: Improved to 11.73% (Jun 2026) from 10.68% (Dec 2025); touched 16.64% (Jun 2025). Recapturing peak drives profit growth beyond revenue growth
Earnings consistency: Net profit volatility ₹1.19–₹65.23 Cr; stable business model grows EPS (₹6.57 Jun 2026) more predictably
Regional scale leverage: Market cap ₹2,464.96 Cr, revenue ₹450 Cr quarterly. Verify capex and capacity vs. construction demand
Dividend sustainability: Regular payouts (Aug 2024, 2025, 2026) show cash. Stable 11%+ margins clarify growth trajectory

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹984.7-0.1%1Y

Quick read

rule-based

Pros

No positive flags triggered.

Cons

−Low return on equity of 5.1% (3-yr avg)
−Profit declined 16.6% a year over the last 3 years
−Modest revenue growth of 2.4% a year over the last 3 years
−Expensive at 60.1× trailing earnings
−Low dividend payout of 9.2% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

20/100

Business quality: 22
Growth: 5
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Ambuja Cements LimitedAMBUJACEMAMBUJACEM	₹90,012 Cr	₹90,065 Cr	₹39,867 Cr	₹6,167 Cr	16.1%	₹4,377 Cr	13.9%	5.3%	8.4%	37
Shree Cement LimitedSHREECEMSHREECEM	₹79,059 Cr	₹80,653 Cr	₹21,896 Cr	₹4,577 Cr	22.1%	₹1,630 Cr	8.4%	10.6%	7.8%	227
Jk Cement LimitedJKCEMENTJKCEMENT	₹38,279 Cr	₹44,353 Cr	₹14,401 Cr	₹2,334 Cr	17.3%	₹946 Cr	7.2%	14.3%	15.1%	71
Dalmia Bharat LimitedDALBHARATDALBHARAT	₹31,556 Cr	₹38,308 Cr	₹15,058 Cr	₹3,005 Cr	20.8%	₹409 Cr	7.8%	7.4%	6.4%	5
Acc LimitedACCACC	₹22,213 Cr	₹22,213 Cr	₹25,369 Cr	₹2,629 Cr	11.4%	₹1,909 Cr	8.2%	10.8%	10.9%	32
The Ramco Cements LimitedRAMCOCEMRAMCOCEM	₹19,633 Cr	₹23,485 Cr	₹9,228 Cr	₹1,345 Cr	15.9%	₹645 Cr	7.7%	6.1%	9%	-0
Jsw Cement LimitedJSWCEMENTJSWCEMENT	₹15,216 Cr	₹19,297 Cr	₹6,849 Cr	₹1,216 Cr	19%	₹760 Cr	-12.3%	10.1%	-11.5%	-140
Nuvoco Vistas Corporation LimitedNUVOCONUVOCO	₹11,505 Cr	₹16,046 Cr	₹11,594 Cr	₹1,907 Cr	16.4%	₹386 Cr	3.2%	7.1%	3.7%	-130
The India Cements LimitedINDIACEMINDIACEM	₹9,147 Cr	₹10,452 Cr	₹4,479 Cr	₹469 Cr	8.8%	₹92 Cr	-1.5%	1.5%	-0.7%	-28
Star Cement LimitedSTARCEMENTSTARCEMENT	₹7,211 Cr	₹7,797 Cr	₹3,807 Cr	₹902 Cr	24.8%	₹370 Cr	10.3%	17%	13%	177
Birla Corporation LimitedBIRLACORPNBIRLACORPN	₹6,383 Cr	₹9,658 Cr	₹9,848 Cr	₹1,450 Cr	15.1%	₹554 Cr	5.8%	8.8%	7.8%	63
Jk Lakshmi Cement LimitedJKLAKSHMIJKLAKSHMI	₹5,915 Cr	₹8,406 Cr	₹6,926 Cr	₹958 Cr	15%	₹370 Cr	6.1%	12.1%	11.2%	57

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	1,305	1,566	1,802	1,725	1,681
Operating expenses	—	—	—	—	—
Operating profit (EBITDA)	245	218	128	202	157
OPM %	18.8%	14%	7.1%	11.7%	9.4%
Depreciation	63	62	69	74	79
Interest	69	64	66	68	69
	25	27	35	38	61
Profit before tax	138	119	28	99	70
Tax	—	—	—	—	—
	93	78	17	60	45
PAT margin %	7.2%	5%	1%	3.5%	2.7%
EPS (₹)	—	—	—	—	—
EPS adjusted (₹)	34	28.3	6.2	21.7	16.4
Annual report	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity capital	28	28	28	28	28
Reserves	640	715	729	784	824
Borrowings	626	624	612	599	615
Other liabilities	564	563	622	657	699
Total equity & liabilities	1,858	1,928	1,990	2,068	2,166
Fixed assets	973	1,131	1,161	1,153	1,169
CWIP	—	—	—	—	—
Investments	—	—	—	—	—
Other assets	—	—	—	—	—
Total assets	1,858	1,928	1,990	2,068	2,166

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from operations	234	189	139	182	188
Cash from investing	-172	-134	-64	-112	-132
Cash from financing	-41	-73	-89	-86	-63
Net cash flow	20	-18	-14	-15	-7
Free cash flow	—	—	—	—	—
CFO / Operating profit %	95.4%	86.3%	108%	90.1%	119.2%

Compounded sales growth

7 years: —
5 years: —
3 years: 2%
1 year: -3%

Compounded profit growth

7 years: —
5 years: —
3 years: -17%
1 year: -25%

Return on equity

7 years: —
5 years: 8%
3 years: 5%
Last year: 5%

Loading financials…

Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Margins
Gross margin %	—	—	—	—	—
EBITDA margin %	18.8%	14%	7.1%	11.7%	9.4%
EBIT margin %	14%	10%	3.3%	7.4%	4.7%
PAT margin %	7.2%	5%	1%	3.5%	2.7%
Working capital
Receivable days	—	—	—	—	—
Inventory days	—	—	—	—	—
Payable days	—	—	—	—	—
NWC days	—	—	—	—	—
Leverage
Current ratio	1.05	1.04	0.86	0.85	0.82
Debt to EBITDA	2.55	2.85	4.76	2.96	3.91
Debt to equity	0.94	0.84	0.81	0.74	0.72
Interest coverage	3	2.8	1.4	2.5	2
Asset turnover	0.7	0.81	0.91	0.83	0.78
Return ratios
Return on assets %	5%	4%	0.9%	2.9%	2.1%
Return on capital employed %	17.2%	14.9%	7.6%	13.6%	11.1%
Return on equity %	14%	10.5%	2.3%	7.4%	5.3%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

Loading ratios…

Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	36.32%	36.63%	36.94%	36.94%	36.94%	37.81%	39.52%	39.52%	40%	40%	40%	40%
	6.81%	6.2%	5.71%	6.32%	6.17%	6.07%	5.81%	5.87%	6.08%	5.79%	5.59%	5.53%
	2.62%	3.4%	5.73%	5.95%	4.78%	4.8%	4.98%	7.09%	6.95%	6.78%	6.17%	6.17%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	54.25%	53.77%	51.62%	50.79%	52.11%	51.32%	49.69%	47.52%	46.97%	47.43%	48.24%	48.3%
No. of shareholders	—	—	—	—	—	—	—	—	31,949	31,419	30,066	29,390

Promoter holding up 3.68 percentage points since Sep 2023.

3 disclosures

Person	Deal	Shares	Value	Holding	Filed
AVA TRADING AND CONSULTING PRIVATE LIMITEDPromoter Group	BuyMarket Purchase	37,000	₹2.79 cr	0.07% → 0.21%	30 Sept 20257(2)
VIDULA CONSULTANCY SERVICES LIMITEDPromoters	BuyMarket Purchase	45,000	₹3.31 cr

57 deals · 20 May 2022 – 2 Jun 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
2 Jun 2026	SANTOSH INDUSTRIES LTD	Bulk	NSE	Sell	2,07,644	₹840.00	₹17.44 Cr
22 May 2026	LOK PRAKASHAN LTD	Bulk	NSE	Sell	1,90,000	₹829.96	₹15.77 Cr
21 May 2026	LOK PRAKASHAN LTD	Bulk	NSE	Sell	2,12,579	₹830.40	₹17.65 Cr
24 Mar 2026	ADITYA BIRLA REAL ESTATE LIMITED	Block	NSE	Sell	9,80,000	₹818.00	₹80.16 Cr
24 Mar 2026	ADITYA BIRLA REAL ESTATE LIMITED	Bulk	NSE	Sell	9,80,000	₹818.00	₹80.16 Cr
24 Mar 2026	AVA TRADING AND CONSULTING PRIVATE LIMITED	Bulk	NSE	Buy	5,00,000	₹818.00	₹40.90 Cr
24 Mar 2026	AVA TRADING AND CONSULTING PRIVATE LIMITED	Block	NSE	Buy	5,00,000	₹818.00	₹40.90 Cr
24 Mar 2026	RAMBARA TRADING PRIVATE LIMITED	Bulk	NSE	Buy	4,80,000	₹818.00	₹39.26 Cr
24 Mar 2026	RAMBARA TRADING PRIVATE LIMITED	Block	NSE	Buy	4,80,000	₹818.00	₹39.26 Cr
14 Aug 2025	JAKHOTIA POLYFIBRE PRIVATE LIMITED	Bulk	NSE	Sell	4,61,401	₹716.02	₹33.04 Cr

1–10 of 57

1 / 6

Mr. ANSHUMAN VIKRAM JALANExecutive Director-Chairperson
Mr. NAND GOPAL KHAITANNon-Executive - Non Independent Director
Mr. GAURAV GOELNon-Executive - Non Independent Director
Mr. ANAND DAGANon-Executive - Independent Director
Mrs. HIMALYANI GUPTANon-Executive - Independent Director
Mr. Arun ChawlaNon-Executive - Independent Director
Mr. Yaswant MishraExecutive Director
Mr. AJIT CHERIAN KURUVILLANon-Executive - Independent Director
Mr. Pawan Kumar ThakurCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

Loading shareholding…

F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

Loading f&o…

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 1 fund houses

Held by these funds

4.21%

of the company's equity

All mutual funds

4.21%

shareholding pattern, Jun 2026

Portfolios as of

July 2026

compared with June 2026

2 schemes

		Shares
Infrastructure Fund	quant Mutual Fund	8.69 L	82.64	2.63%	3.162%	-0
Value Fund	quant Mutual Fund	2.89 L	27.45	1.41%	1.05%	-0

Loading fund holders…

Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Intimation of Credit Rating under Regulation 30 of SEBI (LODR), 201518 Mar 2026

Documents link to external sources (exchange filings, company investor pages).

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

20

Final dividend14 Aug 2026 · ex-date₹1.5
Final dividend14 Aug 2025 · ex-date₹1.5
Final dividend19 Jul 2024 · ex-date₹1.5
Final dividend28 Jul 2023 · ex-date₹1.5
Dividend dividend25 Aug 2022 · ex-date₹1.5
Dividend dividend8 Sept 2021 · ex-date₹1.5
Final dividend17 Sept 2020 · ex-date₹1
Final dividend11 Sept 2019 · ex-date₹0.5
Dividend dividend30 Aug 2018 · ex-date₹0.5
Dividend dividend23 Aug 2017 · ex-date₹0.75
Dividend dividend8 Sept 2016 · ex-date₹0.5
Dividend dividend6 Aug 2015 · ex-date₹2
Dividend dividend4 Sept 2014 · ex-date₹3
Dividend dividend18 Jul 2013 · ex-date₹6
Dividend dividend26 Jul 2012 · ex-date₹6
Dividend dividend28 Jul 2011 · ex-date₹6
Dividend dividend21 Jul 2010 · ex-date₹6
Dividend dividend8 Jul 2009 · ex-date₹5.5
Dividend dividend4 Jul 2008 · ex-date₹5
Dividend dividend5 Jul 2007 · ex-date₹2

1

Board meeting to consider results8 Aug 2026

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

20 announcementsExport CSV

28 Sept 2026, 4:30 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

Loading announcements…

Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Margins
Gross margin %	—	—	—	—	—
EBITDA margin %	18.8%	14%	7.1%	11.7%	9.4%
EBIT margin %	14%	10%	3.3%	7.4%	4.7%
PAT margin %	7.2%	5%	1%	3.5%	2.7%
Working capital
Receivable days	—	—	—	—	—
Inventory days	—	—	—	—	—
Payable days	—	—	—	—	—
NWC days	—	—	—	—	—
Leverage
Current ratio	1.05	1.04	0.86	0.85	0.82
Debt to EBITDA	2.55	2.85	4.76	2.96	3.91
Debt to equity	0.94	0.84	0.81	0.74	0.72
Interest coverage	3	2.8	1.4	2.5	2
Asset turnover	0.7	0.81	0.91	0.83	0.78
Return ratios
Return on assets %	5%	4%	0.9%	2.9%	2.1%
Return on capital employed %	17.2%	14.9%	7.6%	13.6%	11.1%
Return on equity %	14%	10.5%	2.3%	7.4%	5.3%

Date	Category	Subject	Filing
28 Sept 2026, 4:30 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
22 Aug 2026, 3:13 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
21 Aug 2026, 6:17 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
21 Aug 2026, 12:41 pm	Company Update General	Reply To Clarification Sought Regarding Significant Increase In Trading Volume Of The Company''s Equity Shares	PDF
21 Aug 2026, 12:30 pm	Company Update Clarification	Clarification sought from Mangalam Cement Ltd	—
9 Aug 2026, 6:02 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
9 Aug 2026, 4:38 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
8 Aug 2026, 4:32 pm	Board Meeting Outcome of Board Meeting	Board Meeting Outcome for Un-Audited Financial Results For The Qtr. Ended 30.06.2026	PDF

Mangalam Cement Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Events

Dividends20

Board meetings1

Announcements

Dividends20

Board meetings1

Ratio timeline

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

20

1

20

1