MarketFriction

Mangalam Cement Ltd

NSE MANGLMCEM · BSE 502157 · Cement & Cement Products
₹984.65 -0.86%
NSE close2026-10-01
52 week range679.35 - 1,120.00
Market cap₹2,711 Cr.
P/E20.8
Price band 20% Delivery 74.4%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales428439437381359438503452395421490455
Expenses380382392351329395449377352376436402
Operating Profit485746303043547543455453
OPM %11%13%10%8%8%10%11%17%11%11%11%12%
Other Income8619321051311106-411
Interest181717161716191716151618
Depreciation181919191919212020202022
Profit before tax20272926413274916161324
Tax %41%41%41%35%10%40%37%34%-22%27%-400%24%
Net Profit1216171738173220116518
EPS in Rs4.295.806.286.201.192.846.1511.737.314.1323.726.57
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales8421,0451,0801,2001,2281,3051,5661,8021,7251,6811,7581,762
Expenses7979279971,1421,0291,0601,3481,6541,5231,5201,5381,567
Operating Profit451188257200245218148203161221195
OPM %5%11%8%4.8%16%19%14%8%12%10%13%11%
Other Income62128243025271638571822
Interest464747516369646668696466
Depreciation374044464963626974798183
Profit before tax-315019-161171381192899709469
Tax %-31%27%40%-39%35%32%35%38%40%36%-37%
Net Profit-213711-10769378176045129115
EPS in Rs-8.0413.724.26-3.6528.4335.0228.266.2321.7216.3946.9041.73
Dividend Payout %-6%5%12%-14%4%4%5%24%7%9%3%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth8%6%-1%1%
Compounded Profit Growth24%10%81%116%
Stock Price CAGR11%16%39%32%
Return on Equity8%9%10%16%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital272727272727282828282828
Reserves491447479488477549640715729784824950
Borrowings382428391372518585632628621607627888
Other Liabilities312291316333393432558558612649687559
Total Liabilities1,2121,1921,2131,2201,4141,5931,8581,9281,9902,0682,1662,425
Fixed Assets7577448148318219159801,1411,1701,1651,1851,308
CWIP31714957321112101743554
Investments3620283633657110478849176
Other Assets388358323348487591694673725776884987
Total Assets1,2121,1921,2131,2201,4141,5931,8581,9281,9902,0682,1662,425
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity4875163868421623418913918218894
Cash from Investing Activity-50-62-91-17-176-156-172-134-64-112-132-297
Cash from Financing Activity-18-13-77-67833-41-73-89-86-63183
Net Cash Flow-20-0-52-96320-18-14-15-7-20
Free Cash Flow-4107668-175015665148473-224
CFO/OP49%167%140%111%147%114%102%98%103%94%125%45%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days111512121181198798
Inventory Days305202216210200421366270320492326427
Days Payable200194269270286463316235310377290271
Cash Conversion Cycle11623-40-47-75-3460431712345164
Working Capital Days21-21-42-43-25-37-56-54-67-77-91-105
ROCE %7%2%11%7%3%17%17%14%8%12%10%11%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters36.32%36.63%36.94%36.94%36.94%37.82%39.53%39.53%40.01%40.01%40.01%40.01%
FIIs6.82%6.20%5.70%6.32%6.17%6.07%5.81%5.87%6.07%5.80%5.59%5.53%
DIIs2.62%3.40%4.36%4.75%4.78%4.79%4.98%7.09%6.94%6.78%6.17%6.17%
Public54.26%53.76%53.00%51.97%52.10%51.33%49.69%47.52%46.97%47.43%48.25%48.30%
No. of Shareholders34,98832,21034,06532,43133,02733,42731,75031,51631,94931,41930,06629,390

Fundamentals

Market Cap₹ 2,711 Cr.
Current Price₹ 986
Stock P/E20.8
Book Value₹ 355
ROCE11.0 %
ROE16.3 %
Dividend Yield0.15 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)1%
Compounded Profit Growth (TTM)116%
Standalone figures.
Valuation
Market capRs 2,708 Cr
Enterprise valueRs 3,434 Cr
P/E (TTM)23.59x
Price to book2.77x
Price to sales1.54x
EV / EBITDA15.81x
EV / EBIT25.53x
EV / sales1.95x
Price to cash flow28.81x
Earnings yield4.24%
Dividend yield0.15%
P/E, 3-year average32.33x
P/B, 3-year average2.37x
P/E, 5-year average30.67x
P/B, 5-year average1.90x
Profitability
Operating margin (excl. other income)12.55%
Operating margin (incl. other income)13.60%
EBITDA margin12.33%
Pre-tax margin3.90%
Net profit margin6.51%
Net margin, latest quarter3.97%
ROE14.10%
ROCE9.46%
ROA5.62%
ROE, 3-year average9.04%
ROCE, 3-year average10.33%
ROA, 3-year average3.56%
ROE, 5-year average8.09%
ROCE, 5-year average10.32%
ROA, 5-year average3.13%
ROIC (approx.)10.81%
Tax rate-36.90%
Other income / net worth1.88%
Growth
Sales growth (latest year)4.61%
Profit growth (latest year)186.17%
Sales CAGR, 3 years-0.81%
Sales CAGR, 5 years6.15%
Profit CAGR, 3 years96.02%
Profit CAGR, 5 years6.65%
Sales growth QoQ-7.17%
Profit growth QoQ-72.30%
Sales growth YoY (latest quarter)0.77%
Profit growth YoY (latest quarter)-43.99%
Per share
EPS (TTM)Rs 41.73
EPS (latest year)Rs 46.90
EPS (latest quarter)Rs 6.57
EPS, 3-year averageRs 28.33
EPS, 5-year averageRs 23.90
Book value per shareRs 355.42
Sales per shareRs 640.75
Cash flow per shareRs 34.17
Free cash flow per shareRs -81.46
Dividend per share (latest year)Rs 1.50
Dividend per share, 3-year averageRs 1.50
Dividend per share, 5-year averageRs 1.50
Dividends
Dividend payout3.19%
Dividend payout, 3-year average6.41%
Dividend payout, 5-year average9.72%
Efficiency
Asset turnover0.73x
Fixed asset turnover1.34x
Inventory turnover3.84x
Inventory days95 days
Debtor days8 days
Debtors turnover46.95x
Creditor days271 days
Cash conversion cycle164 days
Working capital days-105 days
Leverage
Total debtRs 888 Cr
Cash and bankRs 162 Cr
Net debtRs 726 Cr
Debt to equity0.91x
Net debt / EBITDA3.34x
Interest coverage2.04x
Current ratio (filing 2026-03-31)0.72x
Quick ratio (filing 2026-03-31)0.40x
Trade payables (filing 2026-03-31)Rs 202 Cr
Owners' fund to total sources40.30%
Debt to assets36.64%
Cash flow
Cash from Operating Activity (latest year)Rs 94 Cr
Cash from Investing Activity (latest year)Rs -297 Cr
Cash from Financing Activity (latest year)Rs 183 Cr
Net Cash Flow (latest year)Rs -20 Cr
Free cash flow (latest year)Rs -224 Cr
FCFE (approx.: FCF + change in debt)Rs 37 Cr
Cash from ops / profit, 5 years2.41x
Sales to cash flow18.71x
Statement figures
Net sales (TTM)Rs 1,762 Cr
Net sales (latest year)Rs 1,758 Cr
Sales (latest quarter)Rs 455 Cr
Operating profit excl. other income (latest year)Rs 221 Cr
Operating profit (latest quarter)Rs 53 Cr
Other income (TTM)Rs 22 Cr
EBITDA (TTM)Rs 217 Cr
PBDT (TTM)Rs 151 Cr
Profit before tax (TTM)Rs 69 Cr
Tax (latest year)Rs -35 Cr
Net profit (TTM)Rs 115 Cr
Net profit (latest year)Rs 129 Cr
Net profit (latest quarter)Rs 18 Cr
Depreciation (TTM)Rs 83 Cr
Depreciation (latest quarter)Rs 22 Cr
Interest (TTM)Rs 66 Cr
Cost of goods sold (latest year)Rs 1,223 Cr
Total expenditure (latest year)Rs 1,538 Cr
Total income (latest year)Rs 1,777 Cr
Share capitalRs 28 Cr
ReservesRs 950 Cr
Shareholders' fundsRs 977 Cr
Total assetsRs 2,425 Cr
Net blockRs 1,308 Cr
Capital work in progressRs 54 Cr
InvestmentsRs 76 Cr
ReceivablesRs 37 Cr
InventoryRs 319 Cr
Other liabilitiesRs 559 Cr
Shares outstanding (crore)2.75
Ownership
Promoter holding40.01% (+0.48 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 23.6 is at the 41th percentile of its own 8.4-year range (median 26.5, low 6.4, high 136.9).
P/B 2.77 is at the 87th percentile (median 1.55).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodMANGLMCEMNifty 50Difference
1 week-4.5%-2.8% -1.8 pts
1 month-9.2%-6.8% -2.4 pts
3 months+6.3%-7.6% +13.9 pts
6 months+28.4%+0.4% +28.0 pts
1 year+33.1%-9.9% +43.0 pts
2 years+6.6%-13.6% +20.1 pts
3 years+166.7%+14.2% +152.5 pts
5 years+118.6%+27.9% +90.7 pts
2 mutual fund schemes hold about ₹124 Cr. Over three months 2 bought more and 0 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Quant Infrastructure Fund2.95%93 +12%
Quant Value Fund1.56%30 +9%

Red flags

F-score 5 of 8
lookRegulator order or action Regulator order or action 2025-10-14: Mangalam Cement Limited has informed the Exchange about Action(s) taken or orders passed
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹455 Cr +0.7% vs Jun 2025. Net profit ₹18 Cr -43.8%.

Activity

Compare
CompanyMcap (Cr)P/EROCE
UltraTech Cement Ltd319,10837.012.7 %
Grasim Industries Ltd210,96636.88.01 %
Ambuja Cements Ltd90,88219.35.61 %
Shree Cement Ltd79,01748.510.3 %
J K Cements Ltd37,27838.215.1 %
Dalmia Bharat Ltd30,71228.07.59 %
ACC Ltd22,58311.911.2 %
The Ramco Cements Ltd19,9491056.13 %
JSW Cement Ltd15,34919.511.1 %
Nuvoco Vistas Corporation Ltd11,79328.46.99 %
India Cements Ltd9,41269.71.24 %
Star Cement Ltd7,19819.016.6 %
Birla Corporation Ltd6,54511.79.78 %
JK Lakshmi Cement Ltd6,08515.812.0 %
Prism Johnson Ltd5,50046.95.92 %
No bulk or block deals on record.
Ex-dateActionFactor
2026-08-14Dividend - Rs 1.50 Per Share
2025-08-14Dividend - Rs 1.50 Per Share
2024-07-19Annual General Meeting/Dividend - Rs 1.50 Per Share
2023-07-28Annual General Meeting/Dividend - Rs 1.50 Per Share
2022-08-25Annual General Meeting/Dividend - Rs 1.50 Per Share
2021-09-08 Annual General Meeting/Dividend - Rs 1.50 Per Share
2020-09-17 Annual General Meeting/Dividend - Re 1 Per Share
2019-09-11 Annual General Meeting/Dividend - Rs 0.50 Per Share
2018-08-30 Annual General Meeting/Dividend- Re 0.50 Per Share
2017-08-23 Annual General Meeting/Dividend - Re 0.75 Per Share
2016-09-08 Annual General Meeting/ Divided - Re 0.50/- Per Share
2015-08-06Annual General Meeting/ Dividend - Rs 2/- Per Share
2014-09-04Annual General Meeting / Dividend - Rs 3/- Per Share (Purpose Revised)
2013-07-18Annual General Meeting / Final Dividend Rs.6/- Per Equity Share
2012-07-26Dividend - Rs.6/- Per Share
2011-07-28Dividend-Rs.6/- Per Share
2010-07-21Annual General Meeting And Dividend Rs.6/- Per Share (Purpose Revised)
2009-07-08Agm/Div-Rs.5.50 Per Share
2008-07-04Agm/Div-Rs.5 Per Share
2007-07-05Agm/Div-Rs.2/- Per Sh
2006-12-18Agm
DateTypeWhat it says
2026-08-22Shareholder meetingVoting results.
2026-08-21Shareholder meetingProceedings of Annual General Meeting held on August 21, 2026
2026-08-20Volume querySignificant increase in volume has been observed in Mangalam Cement Limited. The Exchange, in order to ensure that investors have latest relevant info...
2026-08-20Volume querySignificant increase in volume has been observed in Mangalam Cement Limited. The Exchange, in order to ensure that investors have latest relevant info...
2026-08-08Board meeting outcomeFinancial Results for the Qrt ended 30.06.2026
2026-08-06UpdatesUpdate on Commissioning of Captive Solar Power Project and supply of Solar Power to the Company..
2026-07-29UpdatesBusiness Responsibility and Sustainability Report for the financial year 2025-26.
2026-07-29UpdatesLetter sent to shareholders providing weblink of Annual Report of the Company for the Financial year 2025-26 to those members who have not registered ...
2026-07-29General UpdatesGeneral Updates
2026-07-29Shareholder meetingNotice of Annual General Meeting to be held on August 21, 2026
2026-07-06Volume querySignificant increase in volume has been observed in Mangalam Cement Limited. The Exchange, in order to ensure that investors have latest relevant info...
2026-07-03Volume querySignificant increase in volume has been observed in Mangalam Cement Limited. The Exchange, in order to ensure that investors have latest relevant info...
2026-06-19UpdatesCommunication to Shareholders: Dividend for Financial Year 2025-26 Intimation on Tax Deduction at Source (TDS) / withholding tax on Dividend.
2026-06-16Disclosure under SEBI TakeovMangalam Cement Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Subst...
2026-05-16DividendBoard of Directors at its meeting held on May 16, 2026, recommended Final Dividend of Rs. 1.5 per equity share.
2026-05-16Change in ManagementChange in Management
2026-05-16Record DateRecord date for the purpose of Final Dividend is 14-Aug-2026.
2026-05-16Board meeting outcomeMangalam Cement Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-13ResignationResignation of Director/KMP/SMP
2026-05-13Change in ManagementChange in Management
2026-04-27General UpdatesGeneral Updates
2026-04-22General UpdatesGeneral Updates
2026-03-31Commencement of commercial pCommencement of commercial production/operations
2026-03-27Disclosure under SEBI TakeovRambara Trading Private Limited, AVA Trading and Consulting Private Limited and Mignonette Creations Private Limited has submitted to the Exchange a c...
2026-03-18Credit RatingCredit Rating
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-04-01NCLTMangalam Cement Limited with Mangalam Timber Products Limited Vs N/A
2021-03-23NCLTMangalam Cement Limited with Mangalam Timber Products Limited Vs N/A
2021-03-23NCLTM/s Interarch Building Products Pvt. Ltd. Vs M/s Mangalam Cement Limited
2021-02-23NCLTM/s Interarch Building Products Pvt. Ltd. Vs M/s Mangalam Cement Limited
2020-09-11CESTATUDAIPUR ---VS.--- MANGALAM CEMENT LTD
2020-03-11CESTATMANGALAM CEMENT LTD ---VS.--- JODHPUR 1
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03