MarketFriction

Mangalam Seeds Ltd

NSE MSL · BSE 539275 · Other Agricultural Products
₹144.99 +5.52%
NSE close2026-10-01
52 week range120.00 - 160.00
Market cap₹149 Cr.
P/E10.7
Price band 20% Delivery 96.2%

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

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales15.5152.2921.3832.2121.9527.3721.6149.1518.3096.3315.8761.84
Expenses10.9344.8817.4626.5618.3224.5815.7443.1914.2283.0412.8256.10
Operating Profit4.587.413.925.653.632.795.875.964.0813.293.055.74
OPM %29.53%14.17%18.33%17.54%16.54%10.19%27.16%12.13%22.30%13.80%19.22%9.28%
Other Income0.010.010.060.030.020.220.170.020.030.050.010.06
Interest0.450.941.210.961.210.981.121.091.093.250.840.87
Depreciation0.310.310.670.410.390.410.430.420.481.420.610.59
Profit before tax3.836.172.104.312.051.624.494.472.548.671.614.34
Tax %23.76%15.24%-5.24%11.14%20.00%16.67%23.39%12.98%29.53%19.61%19.25%8.76%
Net Profit2.925.232.203.831.641.353.453.891.796.961.293.96
EPS in Rs2.664.762.003.471.491.233.083.531.626.321.143.64
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2430303240414165112103112192
Expenses2126262835323349928596166
Operating Profit34556981621181626
OPM %12%14%16%15%14%22%20%25%18%18%15%14%
Other Income000000000000
Interest001111123446
Depreciation000001112223
Profit before tax23444761316121017
Tax %5%8%9%8%10%14%16%17%17%18%20%
Net Profit2333465111310814
EPS in Rs2.512.823.023.053.425.594.7110.0812.009.377.5112.72
Dividend Payout %20%18%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth17%22%20%60%
Compounded Profit Growth14%6%-9%36%
Stock Price CAGR10%9%-15%-16%
Return on Equity15%15%14%10%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital0.9345111111111111111111
Reserves4818161923293446596978
Borrowings355569101818576549
Other Liabilities12232544481626
Total Liabilities91930353848546778135161164
Fixed Assets233111523232527545351
CWIP00000258791811
Investments000000000111
Other Assets616272423232634447190101
Total Assets91930353848546778135161164
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-0-3-45578-25-1-014
Cash from Investing Activity-2-3-3-7-4-8-7-3-2-32-96
Cash from Financing Activity1870-01-07-2364-20
Net Cash Flow-110-20-10213-60
Free Cash Flow-2-4-5-40-44-83-32-920
CFO/OP-13%-108%-92%102%106%128%97%-8%44%9%10%86%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days44721451208991959487588076
Inventory Days99133131438538355137260195178291298
Days Payable7101854216712103101425
Cash Conversion Cycle136195258504607379219343279226357349
Working Capital Days4412122519017011014214013468110146
ROCE %20%17%14%13%13%17%13%22%19%12%10%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters74.84%74.84%74.84%74.84%74.84%74.35%74.36%74.36%74.36%74.36%74.36%73.24%
Public25.15%25.15%25.15%25.15%25.16%25.64%25.65%25.65%25.65%25.64%25.65%26.77%
No. of Shareholders2,7172,8173,8903,8935,0344,8894,9174,8054,6404,4804,3124,226

Fundamentals

Market Cap₹ 149 Cr.
Current Price₹ 136
Stock P/E10.7
Book Value₹ 80.6
ROCE10.0 %
ROE9.79 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)60%
Compounded Profit Growth (TTM)36%
Consolidated figures.
Valuation
Market capRs 159 Cr
Enterprise valueRs 207 Cr
P/E (TTM)11.40x
Price to book1.80x
Price to sales0.83x
EV / EBITDA7.86x
EV / EBIT8.91x
EV / sales1.08x
Price to cash flow11.58x
Earnings yield8.78%
P/E, 3-year average17.78x
P/B, 3-year average2.54x
P/E, 5-year average17.53x
P/B, 5-year average2.57x
Profitability
Operating margin (excl. other income)14.55%
Operating margin (incl. other income)14.61%
EBITDA margin13.68%
Pre-tax margin8.92%
Net profit margin7.26%
Net margin, latest quarter6.47%
ROE9.79%
ROCE10.15%
ROA5.07%
ROE, 3-year average14.80%
ROCE, 3-year average13.79%
ROA, 3-year average8.12%
ROE, 5-year average15.64%
ROCE, 5-year average15.21%
ROA, 5-year average9.62%
ROIC (approx.)13.71%
Tax rate19.57%
Other income / net worth0.07%
Growth
Sales growth (latest year)8.92%
Profit growth (latest year)-19.83%
Sales CAGR, 3 years19.73%
Sales CAGR, 5 years22.19%
Profit CAGR, 3 years-9.34%
Profit CAGR, 5 years6.09%
Sales growth QoQ289.67%
Profit growth QoQ220.00%
Sales growth YoY (latest quarter)25.82%
Profit growth YoY (latest quarter)3.09%
Per share
EPS (TTM)Rs 12.72
EPS (latest year)Rs 7.51
EPS (latest quarter)Rs 3.64
EPS, 3-year averageRs 9.63
EPS, 5-year averageRs 8.74
Book value per shareRs 80.60
Sales per shareRs 175.17
Cash flow per shareRs 12.52
Free cash flow per shareRs 18.21
Efficiency
Asset turnover0.68x
Fixed asset turnover2.19x
Inventory turnover1.26x
Inventory days291 days
Debtor days76 days
Debtors turnover4.77x
Creditor days25 days
Cash conversion cycle349 days
Working capital days146 days
Leverage
Total debtRs 49 Cr
Cash and bankRs 2 Cr
Net debtRs 48 Cr
Debt to equity0.56x
Net debt / EBITDA1.81x
Interest coverage3.84x
Owners' fund to total sources53.98%
Debt to assets30.14%
Cash flow
Cash from Operating Activity (latest year)Rs 14 Cr
Cash from Investing Activity (latest year)Rs 6 Cr
Cash from Financing Activity (latest year)Rs -20 Cr
Net Cash Flow (latest year)Rs 0 Cr
Free cash flow (latest year)Rs 20 Cr
FCFE (approx.: FCF + change in debt)Rs 4 Cr
Cash from ops / profit, 5 years0.34x
Sales to cash flow8.16x
Statement figures
Net sales (TTM)Rs 192 Cr
Net sales (latest year)Rs 112 Cr
Sales (latest quarter)Rs 62 Cr
Operating profit excl. other income (latest year)Rs 16 Cr
Operating profit (latest quarter)Rs 6 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 26 Cr
PBDT (TTM)Rs 20 Cr
Profit before tax (TTM)Rs 17 Cr
Tax (latest year)Rs 2 Cr
Net profit (TTM)Rs 14 Cr
Net profit (latest year)Rs 8 Cr
Net profit (latest quarter)Rs 4 Cr
Depreciation (TTM)Rs 3 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 6 Cr
Cost of goods sold (latest year)Rs 84 Cr
Total expenditure (latest year)Rs 96 Cr
Total income (latest year)Rs 112 Cr
Share capitalRs 11 Cr
ReservesRs 78 Cr
Shareholders' fundsRs 88 Cr
Total assetsRs 164 Cr
Net blockRs 51 Cr
Capital work in progressRs 11 Cr
InvestmentsRs 1 Cr
ReceivablesRs 24 Cr
InventoryRs 67 Cr
Other liabilitiesRs 26 Cr
Shares outstanding (crore)1.10
Ownership
Promoter holding73.24% (-1.12 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 11.4 is at the 7th percentile of its own 9.4-year range (median 19.0, low 7.9, high 51.5).
P/B 1.80 is at the 5th percentile (median 2.38).
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.
PeriodMSLNifty 50Difference
1 week+5.1%-2.8% +7.8 pts
1 month-1.4%-6.8% +5.4 pts
3 years-34.1%+14.2% -48.3 pts
5 years+63.2%+27.9% +35.3 pts

Red flags

F-score 6 of 8
explainWeak cash conversion Cash from operations was 41% of net profit over the last 3 years
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 ₹62 Cr +25.8% vs Jun 2025. Net profit ₹4 Cr +1.8%.
Against our estimate for Jun 2026: sales -21.4%, profit -37.2% miss. Our estimate for Sep 2026: sales Rs 18 Cr, profit Rs 1 Cr (how).

Activity

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No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
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.
Less than 100 unique PAN traded in previous 30 days

Quick answers

What is the market cap of Mangalam Seeds Ltd?

Mangalam Seeds Ltd (MSL) has a market capitalisation of Rs 149 Cr. at the 2026-10-01 close.

What is the P/E ratio of Mangalam Seeds Ltd?

Mangalam Seeds Ltd trades at a P/E of 10.7 on trailing twelve-month profit, at the 2026-10-01 close.

What were Mangalam Seeds Ltd's latest quarterly results?

In the Jun 2026 quarter, Mangalam Seeds Ltd sales was Rs 62 Cr (+25.8% vs Jun 2025) and net profit was Rs 4 Cr.

What is the 52-week high and low of Mangalam Seeds Ltd?

The 52-week high is Rs 160.00 and the 52-week low is Rs 120.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03