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22.2% Revenue Growth in Q1 FY27; PAT Declines 40.5% Amid Margin Compression
Mangalam Organics reported a strong 22.2% YoY revenue growth to ₹179.09 Cr for Q1 FY27, driven by its expanding retail presence. However, Net Profit (PAT) fell significantly by 40.5% YoY to ₹7.27 Cr as EBITDA margins contracted from 14.74% to 12.40%. The decline is primarily attributed to a 50.5% surge in raw material costs, which reached ₹122.89 Cr during the quarter. While the company is successfully pivoting to a B2C model (now 38% of revenue), high debt levels of ₹356 Cr remain a concern relative to its ₹449 Cr market cap.
Confidence: HIGH
What changedThe company released its Q1 FY27 investor presentation, revealing a divergence between strong top-line growth and declining profitability due to input cost pressures.
Why it mattersThe results demonstrate the execution of the company's B2C strategy (38% revenue share) but also highlight its continued vulnerability to volatile global raw material prices and high leverage.
Q1 FY27 Revenue: ₹179.09 CrQ1 FY27 PAT Growth (YoY): -40.55%EBITDA Margin (Q1 FY27): 12.40%Total Borrowings (Mar-26): ₹356 CrRetail Revenue Contribution: 38%Debt-to-Equity Ratio: 1.11x
📅 Short termThe stock may face pressure in the short term as the market digests the 40% drop in quarterly profit and the impact of rising input costs on margins.
📈 Long termThe structural shift toward branded retail (B2C) is positive for long-term valuation, but sustainable growth depends on managing high debt and reducing sensitivity to camphor price cycles.
⚠ Risk flags
- High raw material price volatility (60-70% of costs)
- High Debt-to-Equity ratio (>1.1x)
- Significant import dependency for key inputs
Key Highlights
Q1 FY27 Revenue increased 22.2% YoY to ₹179.09 Cr, representing ~29% of TTM revenue.
Net Profit for Q1 FY27 dropped to ₹7.27 Cr from ₹12.23 Cr in the same quarter last year.
Cost of materials consumed rose sharply to ₹122.89 Cr in Q1 FY27 compared to ₹81.65 Cr in Q1 FY26.
Retail FMCG portfolio (CamPure and Mangalam brands) now contributes 38% of total revenue.
Total borrowings as of March 2026 stood at ₹356 Cr, resulting in a Debt-to-Equity ratio of approximately 1.11x.
👀 What to Watch
Investors should monitor the stabilization of raw material prices (Alpha pine and gum turpentine) and the company's ability to pass on costs through its branded retail segment. Watch for debt reduction progress in upcoming quarters as interest costs (₹7.42 Cr in Q1) are consuming a significant portion of EBIT.
Q1 Revenue up 22% to ₹179 Cr; Net Profit Declines 40% YoY on Higher Input Costs
Mangalam Organics reported a 22.2% YoY increase in consolidated revenue to ₹179.09 Cr for Q1 FY27. However, net profit fell 40.6% to ₹7.27 Cr compared to ₹12.23 Cr in Q1 FY26, primarily due to a sharp rise in raw material costs which reached ₹122.89 Cr. The company also proposed the appointment of JMT & Associates as new statutory auditors for a five-year term. The 44th Annual General Meeting is scheduled for September 24, 2026.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial results showing strong top-line growth but significant margin compression, alongside a planned transition in statutory auditors.
Why it mattersThe results highlight the company's vulnerability to volatile raw material costs, which offset the benefits of higher sales volumes and capacity utilization.
Revenue (Q1 FY27): ₹179.09 CrNet Profit (Q1 FY27): ₹7.27 CrYoY Revenue Growth: 22.2%Material Cost as % of Revenue: 68.6%Quarterly EPS: ₹8.49
📅 Short termThe stock may face pressure in the short term as the market reacts to the 40% drop in net profit despite the revenue growth.
📈 Long termLong-term performance depends on the successful scaling of the higher-margin retail FMCG portfolio (currently 38% of revenue) to mitigate raw material price volatility.
⚠ Risk flags
- High raw material price volatility
- Significant import dependency (60-70% of RM)
- High debt-to-equity ratio (0.94)
Key Highlights
Revenue from operations grew 22.2% YoY to ₹179.09 Cr from ₹146.55 Cr.
Net profit for the quarter declined 40.6% YoY to ₹7.27 Cr from ₹12.23 Cr.
Cost of materials consumed surged to ₹122.89 Cr, representing 68.6% of revenue compared to 55.7% in the previous year's quarter.
Finance costs increased by 29.3% YoY to ₹7.42 Cr from ₹5.74 Cr.
Proposed appointment of JMT & Associates as Statutory Auditors for a 5-year term starting from the 44th AGM.
👀 What to Watch
Monitor the stabilization of raw material prices (Alpha pine and gum turpentine) and the company's ability to pass on costs through its retail brands like Mangalam and CamPure.
Mangalam Organics Q1 Revenue Up 22% to ₹179 Cr; PAT Declines 40% on Higher Input Costs
Mangalam Organics reported a 22.2% YoY growth in consolidated revenue to ₹179.09 Cr for Q1 FY27. However, Net Profit fell 40.6% YoY to ₹7.27 Cr, primarily due to a 50.5% surge in raw material costs which reached ₹122.89 Cr. The Board also approved the appointment of M/s JMT & Associates as Statutory Auditors for a 5-year term, replacing M/s NGST & Associates upon completion of their tenure. The company's finance costs rose 29.3% YoY to ₹7.42 Cr, reflecting the impact of its ₹285 Cr debt load.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial results and initiated a mandatory rotation of statutory auditors as the previous auditor's term concluded.
Why it mattersThe results highlight a significant margin squeeze despite strong top-line growth, emphasizing the company's vulnerability to global raw material price shifts and its high debt-servicing costs.
Revenue (Q1 FY27): ₹179.09 CrNet Profit (Q1 FY27): ₹7.27 CrMaterial Cost as % of Revenue: 68.6%EPS (Q1 FY27): ₹8.49Finance Cost (Q1 FY27): ₹7.42 CrAGM Date: September 24, 2026
📅 Short termThe stock may face pressure due to the 40% YoY decline in profitability and contracting margins, despite the healthy 22% revenue growth.
📈 Long termLong-term value depends on the successful transition toward a higher-margin retail FMCG portfolio and stabilizing raw material procurement costs.
⚠ Risk flags
- High raw material cost volatility
- Rising finance costs on ₹285 Cr debt
- Significant margin contraction YoY
Key Highlights
Consolidated Revenue from operations increased to ₹179.09 Cr in Q1 FY27 from ₹146.55 Cr in Q1 FY26.
Net Profit (Total Comprehensive Income) dropped to ₹7.27 Cr compared to ₹12.23 Cr in the same quarter last year.
Cost of materials consumed surged to ₹122.89 Cr, representing 68.6% of revenue versus 55.7% in the previous year.
Finance costs increased to ₹7.42 Cr from ₹5.74 Cr YoY, a 29.3% rise.
New Statutory Auditors M/s JMT & Associates appointed for a 5-year term starting from the 44th AGM on September 24, 2026.
👀 What to Watch
Monitor the trend in Alpha pine and gum turpentine prices, as raw material volatility remains the primary risk to margins. Watch for management commentary during the AGM on September 24, 2026, regarding the ramp-up of retail FMCG brands to offset industrial chemical cyclicality.
Mangalam Organics Q1 Revenue up 22% to ₹179 Cr; PAT Drops 40% on High Material Costs
Mangalam Organics reported a 22.2% YoY increase in revenue to ₹179.09 Cr for Q1 FY27. However, net profit declined significantly by 40.5% YoY to ₹7.27 Cr, down from ₹12.23 Cr in the same quarter last year. This profitability squeeze was primarily driven by a 50.5% surge in raw material costs, which rose to ₹122.89 Cr. The company also announced the appointment of M/s JMT & Associates as new statutory auditors for a five-year term, replacing the outgoing auditors.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial results showing top-line growth but bottom-line contraction, and initiated a mandatory rotation of statutory auditors.
Why it mattersThe results underscore the company's high sensitivity to global raw material price volatility, which can erode profitability even during periods of sales growth. The auditor change is a routine governance requirement.
Q1 FY27 Revenue: ₹179.09 CrQ1 FY27 PAT: ₹7.27 CrMaterial Cost YoY Increase: 50.5%Finance Cost: ₹7.42 CrRevenue vs TTM Revenue: ~28.7%
📅 Short termThe stock may face downward pressure in the short term as the market reacts to the 40% drop in quarterly net profit and visible margin compression.
📈 Long termLong-term value depends on the company's ability to pass on raw material costs and increase the share of its higher-margin retail FMCG segment, which was recently 38% of revenue.
⚠ Risk flags
- Raw material price volatility
- High import dependency (60-70% of RM)
- Rising finance costs
- Margin compression
Key Highlights
Revenue from operations increased 22.2% YoY to ₹179.09 Cr from ₹146.55 Cr.
Net profit fell 40.5% YoY to ₹7.27 Cr, resulting in an EPS of ₹8.49 compared to ₹14.28 YoY.
Cost of materials consumed spiked 50.5% YoY to ₹122.89 Cr, significantly outpacing revenue growth.
Finance costs rose 29.3% YoY to ₹7.42 Cr from ₹5.74 Cr.
M/s JMT & Associates appointed as Statutory Auditors for a 5-year term starting from the 44th AGM.
👀 What to Watch
Investors should monitor the stabilization of raw material prices (Alpha pine and gum turpentine) which currently consume ~68% of revenue. Watch for the upcoming AGM on September 24, 2026, for management commentary on margin recovery strategies.
MANORG Q1 FY27: Revenue grows 22% YoY to ₹179 Cr; PAT drops 40% on higher input costs
Mangalam Organics reported a 22.2% YoY increase in consolidated revenue to ₹179.09 Cr for the quarter ended June 30, 2026. However, net profit (Total Comprehensive Income) fell 40.6% YoY to ₹7.27 Cr, primarily due to a sharp rise in raw material costs, which surged to 68.6% of revenue compared to 55.7% in the year-ago period. Sequentially, the company showed recovery with revenue up 16.6% and PAT up 21.6% over Q4 FY26. The board also recommended the appointment of JMT & Associates as new statutory auditors for a five-year term.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial results, showing strong top-line growth but significant margin compression due to input cost inflation, alongside a planned transition in statutory auditors.
Why it mattersThe results highlight the company's vulnerability to volatile raw material prices despite its dominant position in the camphor market; the sequential improvement suggests a recovery from the lower margins seen in late FY26.
Revenue (Q1 FY27): ₹179.09 CrPAT (Q1 FY27): ₹7.27 CrYoY Revenue Growth: 22.2%Material Cost as % of Revenue: 68.6%Debt-to-Equity Ratio: 0.94
📅 Short termThe stock may face pressure due to the significant YoY decline in profitability, though the sequential revenue growth provides some cushion.
📈 Long termLong-term value depends on the successful scaling of the 'Mangalam' and 'CamPure' retail brands to reduce reliance on the volatile bulk camphor market.
⚠ Risk flags
- High raw material price volatility (60-70% of costs)
- Significant import dependency for key inputs
- High finance costs relative to quarterly profits
Key Highlights
Revenue from operations increased 22.2% YoY to ₹179.09 Cr from ₹146.55 Cr.
Net profit declined 40.6% YoY to ₹7.27 Cr, down from ₹12.23 Cr in Q1 FY26.
Cost of materials consumed rose significantly to ₹122.89 Cr, accounting for 68.6% of total revenue.
Earnings Per Share (EPS) for the quarter stood at ₹8.49, compared to ₹14.28 in the previous year's corresponding quarter.
Finance costs increased to ₹7.42 Cr from ₹5.74 Cr YoY, reflecting the impact of the company's ₹285 Cr debt load.
👀 What to Watch
Investors should monitor the stabilization of raw material prices (Alpha pine and gum turpentine) and the growth of the retail FMCG segment, which is intended to provide better margin protection.
₹179 Cr Revenue in Q1 FY27; Net Profit Declines 40% YoY Amid Rising Material Costs
Mangalam Organics reported a 22.2% YoY increase in revenue from operations to ₹179.09 Cr for the quarter ended June 30, 2026. However, net profit fell 40.5% YoY to ₹7.27 Cr, primarily driven by a 50.5% surge in raw material costs which now consume 68.6% of revenue. Sequentially, the company showed recovery with revenue up 16.6% and net profit up 29.4% compared to the March 2026 quarter. The board also initiated a statutory auditor rotation, appointing JMT & Associates for a five-year term.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial results and announced a change in statutory auditors due to the completion of the previous auditor's term.
Why it mattersThe results highlight a significant margin squeeze despite strong top-line growth, emphasizing the company's high sensitivity to global raw material price volatility and its impact on the bottom line.
Revenue (Q1 FY27): ₹179.09 CrNet Profit (Q1 FY27): ₹7.27 CrMaterial Cost as % of Revenue: 68.6%Q1 Revenue vs TTM Revenue: ~28.7%EPS (Q1 FY27): ₹8.49
📅 Short termThe stock may face pressure due to the sharp YoY profit decline, though the sequential (QoQ) improvement in both revenue and profit provides some support.
📈 Long termStructural growth depends on the successful expansion of the high-margin retail brand portfolio (Mangalam/CamPure) and efficient utilization of newly added capacities to offset raw material volatility.
⚠ Risk flags
- High raw material cost sensitivity (60-70% of revenue)
- Rising finance costs
- High debt-to-equity ratio of 0.94
Key Highlights
Revenue from operations grew 22.2% YoY to ₹179.09 Cr from ₹146.55 Cr.
Net profit (Total Comprehensive Income) dropped 40.5% YoY to ₹7.27 Cr from ₹12.23 Cr.
Cost of materials consumed increased significantly to ₹122.89 Cr compared to ₹81.65 Cr in the same quarter last year.
Finance costs rose 29.3% YoY to ₹7.42 Cr, reflecting the company's ₹285 Cr debt burden.
Statutory auditor rotation initiated with JMT & Associates replacing NGST & Associates for a 5-year term.
👀 What to Watch
Investors should monitor the stabilization of raw material prices (Alpha pine and gum turpentine) and the company's ability to pass on costs in its retail FMCG segment. Watch for the commissioning of the ₹30 Cr capital work-in-progress which could improve manufacturing efficiency.
CRISIL Reaffirms BBB+/Stable Rating for Rs 397 Cr Facilities, Removes 'Watch' Status
CRISIL Ratings has removed Mangalam Organics from 'Rating Watch with Developing Implications' and assigned a 'Stable' outlook, reaffirming its Long-Term rating at BBB+ and Short-Term at A2. The review covered bank facilities totaling Rs 397 Crore, which is significant given the company's current debt of Rs 285 Crore and Net Worth of Rs 304 Crore (D/E of 0.94). Additionally, its material subsidiary, Mangalam Brands Private Limited, received a first-time rating of BBB+/Stable for Rs 80 Crore in facilities, signaling credit support for its retail expansion strategy.
Confidence: HIGH
What changedCRISIL has finalized its credit view on the company, moving from a 'Developing' watch to a 'Stable' outlook and reaffirming existing investment-grade ratings.
Why it mattersThe removal of the 'Watch' status reduces perceived credit risk for lenders and investors. This is vital for a company with high raw material price sensitivity and significant debt-funded working capital needs.
Total Rated Bank Facilities: Rs 397 CroreSubsidiary Rated Facilities: Rs 80 CroreRated Facilities vs Net Worth: ~130%Long-Term Rating: CRISIL BBB+/StableShort-Term Rating: CRISIL A2
📅 Short termThe removal of the 'Watch' status provides immediate relief regarding credit stability and may support the stock price as it reduces uncertainty regarding bank facility renewals.
📈 Long termThe stable rating supports the company's long-term strategy of diversifying into FMCG (38% of current revenue) and managing its high debt-to-equity position amidst volatile raw material costs.
⚠ Risk flags
- High Debt-to-Equity ratio (0.94)
- Raw material price volatility (60-70% of costs)
- High import dependency for key inputs
Key Highlights
CRISIL reaffirmed Long-term rating at BBB+ and Short-term at A2 for Rs 397 Crore in bank facilities.
Removed the 'Rating Watch with Developing Implications' status, assigning a 'Stable' outlook.
Subsidiary Mangalam Brands Private Limited received an initial rating of BBB+/Stable for Rs 80 Crore facilities.
The rated facilities of Rs 397 Crore represent approximately 130% of the company's reported Net Worth of Rs 304 Crore.
Largest single facility rated is a Rs 225 Crore Cash Credit from YES Bank Limited.
👀 What to Watch
Investors should monitor if this credit stabilization leads to a reduction in finance costs, which is critical given the company's 0.94 D/E ratio. Watch for the execution of the retail strategy in the Mangalam Brands subsidiary, as it now has independent credit access.
Mangalam Organics Appoints Manoj Mhapadi as CFO; Names New Auditors for FY 2026-27
Mangalam Organics has announced a planned leadership transition as CFO Shrirang V. Rajule retires on June 30, 2026, after over two decades with the company. He will be succeeded by Manoj Mhapadi, a Chartered Accountant with 20 years of experience, including 10 years as the company's Head of Finance. Additionally, the board has appointed Vilaskumar Vaghela as Internal Auditor and M/s NKJ & Associates as Cost Auditors for the 2026-27 financial year. These appointments aim to maintain continuity in financial management and regulatory compliance.
Key Highlights
Mr. Manoj Mhapadi appointed as Chief Financial Officer effective July 01, 2026.
Outgoing CFO Mr. Shrirang V. Rajule retires on June 30, 2026, after a 20-year tenure.
New CFO Manoj Mhapadi has served as the company's Head of Finance for the last 10 years.
Mr. Vilaskumar Vaghela and M/s NKJ & Associates appointed as Internal and Cost Auditors respectively for FY 2026-27.
👀 What to Watch
Investors should view this as a routine and well-planned succession; the internal promotion of the Head of Finance to CFO suggests stability in the company's financial operations.
Mangalam Organics Appoints Manoj Mhapadi as CFO; Shrirang Rajule Retires After 20 Years
Mangalam Organics has announced a planned leadership transition where Mr. Manoj Mhapadi will take over as Chief Financial Officer effective July 1, 2026. This follows the retirement of Mr. Shrirang V. Rajule, who served the company for over two decades. Mr. Mhapadi is an internal promotee with 10 years of experience as the company's Head of Finance and 20 years of total experience as a Chartered Accountant. Additionally, the company has appointed new Internal and Cost Auditors for the 2026-27 financial year to ensure regulatory compliance.
Key Highlights
Mr. Manoj Mhapadi appointed as CFO and KMP effective July 1, 2026.
Outgoing CFO Mr. Shrirang V. Rajule retires on June 30, 2026, after more than 20 years with the firm.
New CFO Manoj Mhapadi has been with the company for 10 years as Head of Finance, ensuring management continuity.
Mr. Vilaskumar Vaghela (Internal Auditor) and M/s. NKJ & Associates (Cost Auditor) appointed for FY 2026-27.
The transition includes the handover of Deputy Nodal Officer duties for IEPF matters to the new CFO.
👀 What to Watch
Investors should view this as a routine and stable succession. The internal promotion of a long-term finance head suggests continuity in financial reporting and strategy.
Mangalam Organics Appoints Manoj Mhapadi as CFO Following Retirement of Shrirang V. Rajule
Mangalam Organics Limited has announced a leadership transition in its finance department, with CFO Mr. Shrirang V. Rajule set to retire on June 30, 2026, after over 20 years of service. The Board has appointed Mr. Manoj Mhapadi, the current Head of Finance with 10 years of tenure at the company, as the new CFO effective July 01, 2026. Additionally, the company has appointed new Internal and Cost Auditors for the Financial Year 2026-27 to ensure regulatory compliance. This internal promotion for the CFO role suggests a focus on continuity and stability in financial management.
Key Highlights
Mr. Shrirang V. Rajule retires as CFO and KMP effective June 30, 2026, after a 20-year association.
Mr. Manoj Mhapadi, a CA with 20+ years of experience and 10 years at the company, appointed as new CFO.
Mr. Vilaskumar Vaghela appointed as Internal Auditor for the Financial Year 2026-27.
M/s. NKJ & Associates appointed as Cost Auditor for the Financial Year 2026-27.
Manoj Mhapadi also takes over as Deputy Nodal Officer for IEPF matters from July 01, 2026.
👀 What to Watch
Investors should view this as a routine and well-planned succession; the promotion of an internal candidate who has headed finance for a decade minimizes transition risk.
Mangalam Organics Appoints Manoj Mhapadi as CFO; Shrirang Rajule to Retire
Mangalam Organics has announced a planned leadership transition in its finance department, with Mr. Manoj Mhapadi appointed as the Chief Financial Officer effective July 01, 2026. This follows the retirement of Mr. Shrirang V. Rajule, who is stepping down after a long association of over 20 years with the company. Mr. Mhapadi, a Chartered Accountant with 20+ years of experience, has already served as the company's Head of Finance for the last 10 years. The board also appointed new Internal and Cost Auditors for the Financial Year 2026-27 to ensure continued regulatory compliance.
Key Highlights
Mr. Manoj Mhapadi appointed as CFO and Key Managerial Personnel effective July 01, 2026.
Current CFO Mr. Shrirang V. Rajule to retire on June 30, 2026, after more than 20 years with the firm.
New CFO Manoj Mhapadi brings 20+ years of experience, including a decade as the company's Head of Finance.
Mr. Vilaskumar Vaghela and M/s. NKJ & Associates appointed as Internal and Cost Auditors for FY 2026-27.
The transition is an internal promotion, suggesting continuity in financial management and strategy.
👀 What to Watch
Investors should view this as a routine and well-planned succession; no immediate action is required as the internal promotion ensures stability in financial oversight.
Mangalam Organics Appoints Manoj Mhapadi as CFO; Shrirang Rajule Retires After 20+ Years
Mangalam Organics Limited has announced a leadership transition in its finance department, with Mr. Shrirang V. Rajule retiring as CFO on June 30, 2026, after a long tenure. Mr. Manoj Mhapadi, who has been with the company for 10 years as Head of Finance and possesses over 20 years of total experience, will take over as CFO effective July 01, 2026. Additionally, the board approved the appointment of Mr. Vilaskumar Vaghela as Internal Auditor and M/s. NKJ & Associates as Cost Auditor for the financial year 2026-27. The transition appears to be a planned succession, leveraging internal talent for the top finance role.
Key Highlights
Mr. Shrirang V. Rajule to retire as CFO and Key Managerial Personnel effective June 30, 2026.
Mr. Manoj Mhapadi, a Chartered Accountant with 20+ years of experience, appointed as the new CFO from July 01, 2026.
Mr. Manoj Mhapadi has been associated with the company as Head of Finance for the past 10 years.
Mr. Vilaskumar Vaghela and M/s. NKJ & Associates appointed as Internal and Cost Auditors respectively for FY 2026-27.
👀 What to Watch
Investors should view this as a routine and well-planned management succession. The promotion of an internal candidate who has headed the finance function for a decade ensures continuity in financial strategy and reporting.
Mangalam Organics FY26 PAT Surges 103% to ₹25.38 Cr; EBITDA Margins Expand to 14.11%
Mangalam Organics reported a robust financial performance for the fiscal year ended March 2026, with revenue growing 17.46% to ₹622.57 crore. The company's profitability saw a significant boost as PAT doubled to ₹25.38 crore, driven by lower input costs and enhanced operational efficiencies. EBITDA margins improved by 306 basis points YoY to reach 14.11%. Additionally, the company successfully completed its capacity expansion for Bhimseni/Isoborneol Flakes to 2,500 MT per annum during the year.
Key Highlights
Annual Revenue increased by 17.46% YoY to ₹622.57 crore in FY26 compared to ₹530.01 crore in FY25.
Net Profit (PAT) grew by 103.04% YoY to ₹25.38 crore, with PAT margins improving from 2.36% to 4.08%.
EBITDA rose 49.91% YoY to ₹87.82 crore, reflecting significant improvements in cost management.
Successfully completed expansion of Bhimseni/Isoborneol Flakes manufacturing capacity to 2,500 MTPA.
Q4 FY26 PAT grew 29.49% sequentially to ₹5.62 crore despite a 6.49% QoQ dip in revenue.
👀 What to Watch
The doubling of profits and significant margin expansion suggest a strong turnaround and improved cost control. Investors should monitor the ramp-up of the new Bhimseni capacity and the sustainability of raw material price benefits in upcoming quarters.
Mangalam Organics FY26 Net Profit Jumps 75% to ₹13.27 Cr; Revenue Hits ₹500 Cr
Mangalam Organics reported a strong financial performance for the fiscal year ended March 31, 2026, with standalone revenue from operations growing 22% to ₹500.85 crore. Net profit for the full year surged by 74.6% to ₹13.27 crore, up from ₹7.60 crore in the previous year, despite an exceptional loss of ₹3.51 crore. The fourth quarter showed significant momentum with revenue of ₹134.64 crore, representing a 29.5% growth over Q4 FY25. Earnings per share (EPS) saw a substantial increase to ₹15.50 from ₹8.87 YoY.
Key Highlights
Annual revenue from operations increased 22% YoY to ₹500.85 crore in FY26.
Full-year net profit grew by 74.6% to ₹13.27 crore compared to ₹7.60 crore in FY25.
Q4 FY26 revenue stood at ₹134.64 crore, a 29.5% increase over ₹103.97 crore in Q4 FY25.
Earnings Per Share (EPS) expanded significantly to ₹15.50 from ₹8.87 in the previous fiscal.
Operating profit before tax for FY26 reached ₹17.72 crore despite a ₹3.51 crore exceptional item loss.
👀 What to Watch
The company demonstrates robust top-line growth and significant margin expansion, making it a positive outlook for long-term investors. Shareholders should monitor the impact of raw material costs and the nature of the negative other income reported in the final quarter.
Mangalam Organics FY26 Net Profit Jumps 75% to ₹13.27 Cr; Revenue Up 22%
Mangalam Organics reported a strong performance for the financial year ended March 31, 2026, with annual revenue from operations growing 22.2% to ₹500.85 crore. Net profit for the full year surged by approximately 74.6% to ₹13.27 crore, up from ₹7.60 crore in the previous fiscal, despite an exceptional loss of ₹3.51 crore. The fourth quarter showed significant sequential momentum, with profit after tax rising to ₹3.37 crore from ₹1.11 crore in Q3 FY26. The company's balance sheet remains healthy with total equity increasing to ₹303.10 crore.
Key Highlights
Annual Revenue from operations increased by 22.2% YoY to ₹500.85 crore from ₹409.85 crore.
Full-year Net Profit grew to ₹13.27 crore compared to ₹7.60 crore in FY25.
Earnings Per Share (EPS) improved significantly to ₹15.50 for FY26 from ₹8.87 in FY25.
Q4 FY26 revenue stood at ₹134.64 crore, representing a 29.5% increase over the same quarter last year.
The Board declared an unmodified audit opinion for both standalone and consolidated financial results.
👀 What to Watch
The company has demonstrated strong operational recovery and margin expansion; investors should consider this a positive signal but remain cautious regarding raw material price volatility.
CRISIL Reaffirms Mangalam Organics Credit Ratings at BBB+; Maintains 'Watch Developing' Status
CRISIL Ratings has reaffirmed the credit ratings for Mangalam Organics Limited's bank facilities totaling Rs. 397 Crore. The long-term rating is maintained at CRISIL BBB+ and the short-term rating at CRISIL A2. Both ratings continue to be on 'Rating Watch with Developing Implications', indicating that the credit profile is under close monitoring for potential future changes. The rated facilities include a mix of cash credit, letters of credit, and term loans across several major banks.
Key Highlights
Total bank loan facilities reaffirmed at Rs. 397 Crore
Long-term rating maintained at CRISIL BBB+ and short-term at CRISIL A2
Ratings continue on 'Rating Watch with Developing Implications' status
Major facility allocations include Axis Bank (Rs. 125 Cr) and HDFC Bank (Rs. 92.5 Cr)
Facilities include Rs. 169.5 Crore in Cash Credit and Rs. 100 Crore in Letters of Credit
👀 What to Watch
Investors should monitor the company's upcoming financial performance and any news regarding the resolution of the 'Rating Watch' status. While the reaffirmation shows stability, the 'Developing Implications' tag suggests potential volatility in the credit profile.
Mangalam Organics Q3 FY26 Revenue Jumps 32.6% YoY to ₹164.3 Cr; PAT Up 19.6%
Mangalam Organics reported a strong 32.58% YoY revenue growth in Q3 FY26, reaching ₹164.29 crore, driven by volume growth and lower input costs. Net profit for the quarter rose 19.56% to ₹4.34 crore, although margins saw a slight contraction with EBITDA margin at 11.75%. The company successfully completed its Bhimseni/Isoborneol Flakes expansion to 2,500 MTPA in 2025. The retail segment, Mangalam Brands, showed significant EBITDA growth of 252% YoY, contributing ₹55.9 crore to the top line.
Key Highlights
Revenue from operations grew 32.58% YoY to ₹164.29 crore in Q3 FY26.
PAT increased by 19.56% YoY to ₹4.34 crore, while full-year FY25 PAT surged 197% to ₹12.50 crore.
Successfully completed expansion of Bhimseni/Isoborneol Flakes capacity to 2,500 MT per annum in 2025.
Retail subsidiary Mangalam Brands reported a 252% YoY increase in EBITDA to ₹6.9 crore for the quarter.
B2B Terpene operations remain the dominant segment, contributing 96% of the company's revenue.
👀 What to Watch
Investors should monitor the scaling of the newly expanded Bhimseni capacity and the improving profitability of the B2C retail segment. The stock remains a play on pine chemistry and domestic camphor demand, though margin volatility due to raw material costs remains a key risk.
Mangalam Organics Q3 Consolidated Net Profit Rises 19% YoY to ₹4.34 Crore
Mangalam Organics reported a strong consolidated performance for Q3 FY26, with revenue from operations growing 32.6% YoY to ₹164.30 crore. Consolidated net profit increased to ₹4.34 crore from ₹3.64 crore in the same quarter last year, driven by robust subsidiary performance. However, standalone results showed a significant decline in net profit to ₹1.11 crore compared to ₹2.83 crore YoY, indicating margin pressure on the core manufacturing business. The company's consolidated EPS improved to ₹5.07 from ₹4.25 in the year-ago period.
Key Highlights
Consolidated Revenue from Operations grew 32.6% YoY to ₹164.30 crore from ₹123.92 crore.
Consolidated Net Profit increased by 19.3% YoY to ₹4.34 crore.
Standalone Net Profit declined by 60.8% YoY to ₹1.11 crore, reflecting higher operational costs.
Consolidated EPS for the quarter rose to ₹5.07 compared to ₹4.25 in Q3 FY25.
Nine-month consolidated profit reached ₹19.76 crore, a significant jump from ₹7.43 crore in the previous year.
👀 What to Watch
Investors should focus on the consolidated growth which suggests that the company's brand and retail-focused subsidiaries are scaling effectively. Monitor the standalone segment for potential recovery in margins as the core chemical business currently appears to be a drag on overall profitability.
Mangalam Organics Q3 Consolidated Net Profit Rises 19% YoY to ₹4.34 Cr; Revenue Up 33%
Mangalam Organics reported a strong consolidated performance for Q3 FY26, with revenue from operations growing 32.6% YoY to ₹164.30 crore. Consolidated net profit increased by 19.3% YoY to ₹4.34 crore, showing resilience despite a sharp drop in 'Other Income' compared to the previous quarter. For the nine-month period ended December 2025, the company's consolidated net profit surged to ₹19.76 crore from ₹7.43 crore in the previous year, indicating a significant operational turnaround. However, standalone margins faced pressure, with standalone net profit declining YoY to ₹1.11 crore.
Key Highlights
Consolidated Revenue from operations grew 32.6% YoY to ₹164.30 crore in Q3 FY26.
Consolidated Net Profit (Total Comprehensive Income) rose 19.3% YoY to ₹4.34 crore.
9M FY26 Consolidated Net Profit surged to ₹19.76 crore compared to ₹7.43 crore in 9M FY25.
Consolidated EPS improved to ₹5.07 for the quarter from ₹4.25 in the same quarter last year.
Standalone revenue grew 21.8% YoY to ₹122.45 crore, though standalone net profit dipped to ₹1.11 crore.
👀 What to Watch
Investors should focus on the robust consolidated growth which suggests strong performance in subsidiaries and the core chemical segment. Monitor raw material cost trends as they remain the largest expense component impacting standalone margins.
Mangalam Organics Q3 FY26 Consolidated Net Profit Rises 19% YoY to ₹4.34 Crore
Mangalam Organics reported a strong 32.6% YoY growth in consolidated revenue from operations, reaching ₹164.30 crore for the quarter ended December 31, 2025. Consolidated net profit increased by 19.3% YoY to ₹4.34 crore, despite a significant drop in other income compared to the previous quarter. The nine-month performance shows a robust recovery, with consolidated net profit surging 166% to ₹19.76 crore. However, standalone margins appear under pressure, with standalone net profit declining YoY, suggesting that growth is being driven by its subsidiaries and retail brands.
Key Highlights
Consolidated Revenue from Operations grew 32.6% YoY to ₹164.30 crore in Q3 FY26.
Consolidated Net Profit for the quarter stood at ₹4.34 crore versus ₹3.64 crore in Q3 FY25.
Nine-month consolidated net profit surged to ₹19.76 crore from ₹7.43 crore in the previous year period.
Consolidated EPS improved to ₹5.07 for the quarter, up from ₹4.25 YoY.
Standalone net profit declined to ₹1.11 crore from ₹2.83 crore YoY, indicating margin pressure at the parent level.
👀 What to Watch
Investors should take note of the strong consolidated growth driven by subsidiaries, which offsets the weakness in standalone operations. Monitor the sustainability of the 9-month growth trajectory and the company's ability to manage raw material costs in the chemical segment.
