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Swing Capital

Mangalam Cement Ltd

NSE: MANGLMCEM BSE: 502157Cement

Mangalam Cement Limited, incorporated in 1976, is engaged in the manufacturing of Cement in India and is a professionally run company, managed by Smt. Vidula Jalan of the B.K. Birla group. The Co. has its own manufacturing plants in Morak (Rajasthan) and Aligarh (Uttar Pradesh). The company markets and sells its product under the brand name of Birla Uttam Cement.[1][2]

₹853
52W: ₹679 — ₹955
PE 16 · Book ₹355 · +140% vs book
Market Cap₹2,346 Cr
Stock P/E16Price to Earnings
ROCE10.8%Return on Capital
ROE16%Return on Equity
Div. Yield0.17%Face Value ₹10

Weaknesses

  • −The company has delivered a poor sales growth of 6.15% over past five years.
  • −Tax rate seems low
  • −Company has a low return on equity of 10.0% over last 3 years.

Shareholding Pattern

Promoters40.01%
FIIs5.59%
DIIs6.17%
Public48.25%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters36.94%36.94%37.82%▲0.939.53%▲1.739.53%40.01%▲0.540.01%40.01%
FIIs6.32%6.17%▼0.26.07%▼0.15.81%▼0.35.87%▲0.16.07%▲0.25.8%▼0.35.59%▼0.2
DIIs4.75%4.78%▲0.04.79%▲0.04.98%▲0.27.09%▲2.16.94%▼0.16.78%▼0.26.17%▼0.6
Public51.97%52.1%▲0.151.33%▼0.849.69%▼1.647.52%▼2.246.97%▼0.647.43%▲0.548.25%▲0.8

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales439437381359438503452395421490
Expenses382392351329395449377352376436
Operating Profit57463030435475434554
OPM %13%10%8%8%10%11%17%11%11%11%
Net Profit161717381732201165
EPS ₹5.86.286.21.192.846.1511.737.314.1323.72

AI Insights

Revenue Trend

Mar 2026 revenue at ₹1,758Cr, up 4.6% YoY. OPM at 12%.

Debt Position

Borrowings at ₹888Cr. Debt-to-equity ratio: 0.93x. Moderate leverage.

Capex Cycle

CWIP at ₹54Cr (4% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 6.17% (+3.55pp change). FIIs: 5.59% (-1.16pp change). Promoters hold 40.01%.

Margin & Efficiency

ROCE improving from 7% (Mar 2015) to 11% (Mar 2026). Working capital days: -91.

Valuation

PE 16x with 10.8% ROCE. Price is 140% above book value of ₹355. Dividend yield: 0.17%.

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