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Mangalam Cement Limited (MANGLMCEM)

📊 NSE: MANGLMCEM 🏢 Cement - North India 📅 Last Updated: 12/14/2025 9:33

📢 Recent Corporate Announcements

Mangalam Cement Shareholders Approve All Resolutions at 50th AGM

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 22 Aug 2026, 03:22 PM

Mangalam Cement Limited has submitted the voting results and Scrutinizer's Report for its 50th Annual General Meeting (AGM) held on August 21, 2026. As per the filing under Regulation 44(3) of SEBI LODR Regulations, 2015, all resolutions proposed in the AGM notice were approved by shareholders with the requisite majority. This is a routine annual compliance filing concluding the statutory AGM proceedings.

50th Annual General Meeting concluded on August 21, 2026
All resolutions approved by shareholders with requisite majority
Filing submitted under Regulation 44(3) of SEBI LODR Regulations along with Scrutinizer's Report

💡 Track upcoming quarterly financial results and management execution on margin improvements and capacity targets.

Mangalam Cement 50th AGM: Considers Rs 1.50 Dividend, Proposes Rs 3,000 Cr Borrowing Cap

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 21 Aug 2026, 06:24 PM

Mangalam Cement held its 50th Annual General Meeting via video conference, attended by 73 members representing 1.13 crore shares. Shareholders voted on ordinary business including the declaration of a final dividend of Rs 1.50 per share (15%) for FY26 and adoption of annual accounts. Key special resolutions included hiking the company's borrowing limit from Rs 2,000 crore to Rs 3,000 crore and authorizing related asset charges. E-voting scrutinizer results will be announced separately.

Proposed declaration of final dividend of Rs 1.50 (15%) per equity share for FY 2025-26.
Placed special resolution to increase borrowing limit from Rs 2,000 Crores to Rs 3,000 Crores.
Proposed enabling resolution to create asset charges/mortgages up to Rs 3,000 Crores under Section 180(1)(a).
A total of 73 members representing 1,13,38,915 shares attended the meeting.

💡 Track the upcoming disclosure of scrutinizer voting results to confirm approval of all resolutions, and monitor any subsequent capex or debt-raising announcements utilizing the expanded limit.

Mangalam Cement Clarifies on Volume Spurt: No Undisclosed Material Information

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 20 Aug 2026, 09:06 PM

Mangalam Cement Limited replied to an NSE surveillance clarification letter dated August 20, 2026, regarding a significant increase in trading volume of its equity shares. The company confirmed that there is no undisclosed price-sensitive information or material event pending disclosure under SEBI LODR Regulation 30. Management stated that the volume increase appears purely market-driven and outside company control, though it will make reasonable enquiries.

Clarification submitted in response to NSE letter Ref. No. NSE/CM/Surveillance/17382 dated August 20, 2026
Confirmed zero pending material disclosures or price-sensitive events under Regulation 30
Company attributed the volume surge as purely market-driven
Proposed to make reasonable internal enquiries to monitor and verify trading activity

💡 Treat this as a standard regulatory clarification. Investors should focus on fundamental business performance and upcoming quarterly operational metrics rather than short-term trading volume spikes.

44% YoY Profit Drop to ₹18.07 Cr for Mangalam Cement in Q1 FY27

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 08 Aug 2026, 04:26 PM

Mangalam Cement reported a weak set of results for Q1 FY27, with Net Profit declining 44% YoY to ₹18.07 Cr from ₹32.26 Cr. Revenue remained nearly flat at ₹455.22 Cr, up just 0.8% YoY. The profitability squeeze was primarily driven by a significant swing in inventory accounting and a 10.6% rise in finance costs to ₹18.27 Cr. Despite a 5.6% reduction in power and fuel expenses, the operating margin faced pressure from the competitive North Indian market.

Net Profit declined 44% YoY to ₹18.07 Cr compared to ₹32.26 Cr in the same quarter last year.
Revenue from operations grew marginally by 0.8% to ₹455.22 Cr from ₹451.74 Cr.
Finance costs increased by 10.6% YoY to ₹18.27 Cr, reflecting the company's ₹888 Cr debt burden.
Power and fuel costs, a major expense, decreased by 5.6% YoY to ₹103.71 Cr.
Inventory changes resulted in a ₹34.57 Cr charge this quarter versus a ₹20.20 Cr credit in Q1 FY26.

💡 Investors should monitor the company's ability to improve realizations in the Rajasthan market and track the recovery of the remaining Petcoke advance following the AED 1.80 million already recovered.

15.17 MW Solar Plant Commissioned to Reduce Power Costs

🟢 POSITIVE ⭐ 6/10

EXPANSION 📅 06 Aug 2026, 10:28 PM

Mangalam Cement has successfully commissioned a 15.17 MW (AC) / 22 MW (DC) captive solar power project in Barmer, Rajasthan. The supply of solar power commenced on August 6, 2026, under a Group Captive Open Access model. This is a strategic move to mitigate high energy costs, which currently represent 27% of the company's cost structure. The project was developed on a Build-Own-Operate (BOO) basis by Suryadeep RJ-1 Projects Private Limited.

Commissioned 15.17 MW (AC) / 22 MW (DC) solar power plant in Barmer, Rajasthan
Short-Term Open Access (STOA) for power evacuation became effective on August 6, 2026
Energy costs account for 27% of the company's total cost structure
A 10% increase in power and fuel costs previously impacted the bottom line by Rs 45.8 Cr
Project developed under the Group Captive Generation Mechanism on a BOO basis

💡 Investors should monitor the 'Power & Fuel' cost line item in the Q2 and Q3 FY27 results to quantify the actual margin improvement from this renewable energy transition.

₹1.50 Dividend Announced; 50th AGM Scheduled for August 21, 2026

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 29 Jul 2026, 10:44 PM

Mangalam Cement Limited has scheduled its 50th Annual General Meeting (AGM) for August 21, 2026, to be held via video conferencing. The company has proposed a final dividend of ₹1.50 per equity share (15% of face value) for the financial year 2025-26. The cut-off date for dividend eligibility is fixed for August 14, 2026, with payments starting from August 25, 2026. Shareholders are required to update KYC and PAN details by the cut-off date to ensure electronic credit of the dividend.

Proposed final dividend of ₹1.50 per equity share of face value ₹10 each.
50th Annual General Meeting (AGM) to be held on Friday, August 21, 2026, at 2:00 PM.
Cut-off date for dividend eligibility and tax exemption submissions is August 14, 2026.
Dividend payment date scheduled on or after Tuesday, August 25, 2026.
Shareholders holding physical shares must update PAN and KYC by August 14, 2026, to receive dividends.

💡 Investors should ensure their bank account and KYC details are updated with their Depository Participant or the RTA (Mas Services Limited) before August 14, 2026, to avoid delays in dividend credit.

₹1.50 Dividend Announced; 50th AGM Scheduled for August 21, 2026

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 29 Jul 2026, 10:34 PM

Mangalam Cement Limited has scheduled its 50th Annual General Meeting (AGM) for August 21, 2026, to be held via video conferencing. The company has proposed a final dividend of ₹1.50 per equity share (15% of face value) for the financial year 2025-26. The cut-off date for dividend eligibility is August 14, 2026, with payments starting from August 25, 2026. Shareholders are required to update KYC and bank details by the cut-off date to ensure electronic credit of dividends.

Proposed final dividend of ₹1.50 per equity share of face value ₹10 each.
50th Annual General Meeting (AGM) scheduled for August 21, 2026, at 2:00 PM.
Cut-off date for dividend eligibility and tax exemption forms is August 14, 2026.
Dividend payment to be processed on or after August 25, 2026.
Annual Report for FY 2025-26 made available via digital web-link for all shareholders.

💡 Investors should ensure their PAN and bank details are updated with their Depository Participant or RTA by August 14, 2026, to receive the dividend. Review the Annual Report for updates on the company's strategy to reach ₹2,000 Cr revenue.

Rs 1.50 Final Dividend Announced; Mangalam Cement Schedules 50th AGM for August 21, 2026

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 29 Jul 2026, 10:26 PM

Mangalam Cement has scheduled its 50th Annual General Meeting (AGM) for August 21, 2026, to be conducted via video conferencing. The company has proposed a final dividend of Rs 1.50 per equity share (15% of face value) for the financial year ended March 31, 2026. The cut-off date for determining dividend eligibility is set for August 14, 2026, with payments expected to commence on or after August 25, 2026. Shareholders must ensure KYC and bank details are updated by the cut-off date to receive dividends electronically.

Proposed final dividend of Rs 1.50 per equity share of face value Rs 10.
50th Annual General Meeting scheduled for Friday, August 21, 2026.
Cut-off date for dividend eligibility and remote e-voting is August 14, 2026.
Dividend payment to be processed on or after August 25, 2026.
Mandatory electronic mode for dividend payments for folios without updated PAN/KYC as of April 1, 2024.

💡 Investors should verify that their PAN, KYC, and bank account details are updated with their Depository Participant or the RTA (Mas Services Limited) before August 14, 2026, to ensure seamless dividend credit.

Mangalam Cement proposes ₹1,000 Cr increase in borrowing limit to ₹3,000 Cr

🟡 NEUTRAL ⭐ 5/10

BOARD_MEETING 📅 29 Jul 2026, 10:05 PM

Mangalam Cement has issued a notice for its 50th Annual General Meeting (AGM) scheduled for August 21, 2026. The company is seeking shareholder approval to increase its borrowing limits from ₹2,000 Cr to ₹3,000 Cr, a 50% increase in headroom. A final dividend of ₹1.50 per share (15%) has been proposed for the financial year ended March 31, 2026. Additionally, the company is seeking an enabling resolution to provide loans or guarantees to entities in which directors are interested, as per Section 185 of the Companies Act.

Proposed increase in borrowing limits from ₹2,000 Cr to ₹3,000 Cr under Section 180(1)(c).
Declaration of a final dividend of ₹1.50 per equity share (15%) for FY 2025-26.
Record date for dividend eligibility and e-voting set for August 14, 2026.
Ratification of Cost Auditor remuneration of ₹1,77,464 for the financial year ending March 31, 2027.
Special resolution proposed to authorize loans, guarantees, or securities under Section 185.

💡 Investors should monitor the AGM voting results on August 21, 2026, and watch for management commentary regarding the specific utilization of the increased borrowing headroom for potential capacity expansion.

Mangalam Cement Submits Quarterly Compliance Certificate for Dematerialization

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Jul 2026, 12:30 PM

Mangalam Cement Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the period ending June 30, 2026. The certificate, issued by its Registrar and Share Transfer Agent (RTA), Mas Services Limited, confirms that all share dematerialization requests were processed within the mandated 15-day timeframe. This filing is a standard administrative requirement to ensure the integrity of the company's share register and depository records. There are no financial implications or operational changes associated with this announcement.

Compliance certificate covers the quarter from April 1, 2026, to June 30, 2026
Dematerialization requests were confirmed or rejected within the 15-day regulatory limit
Security certificates were mutilated and cancelled after verification as per SEBI norms
Register of Members was updated with the Depositories as the registered owners within 15 days

💡 No action is required from investors as this is a routine procedural filing confirming administrative compliance with SEBI regulations.

Mangalam Cement clarifies on trading volume spurt; no undisclosed material events

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 06 Jul 2026, 01:13 PM

Mangalam Cement Limited has responded to a clarification sought by the National Stock Exchange (NSE) regarding a significant increase in the trading volume of its equity shares. The company stated on July 6, 2026, that it is in full compliance with SEBI LODR Regulations and has disclosed all material events. Management confirmed there is no pending price-sensitive information that could impact trading behavior. The company characterized the volume increase as purely market-driven.

NSE sought clarification via letter Ref. No. NSE/CM/Surveillance/17211 dated July 3, 2026
Company submitted its formal response on July 6, 2026
Management confirmed no material information is pending disclosure under Regulation 30
Trading volume increase attributed to market forces rather than internal company developments

💡 Investors should treat this as a routine regulatory clarification. Focus on upcoming fundamental triggers like quarterly earnings rather than speculative volume spikes.

Mangalam Cement to Close Trading Window from July 1, 2026, for Q1 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 27 Jun 2026, 12:37 PM

Mangalam Cement Limited has announced the mandatory closure of its trading window starting July 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This closure is in anticipation of the un-audited financial results for the quarter ending June 30, 2026. The restriction applies to all designated persons and their immediate relatives and will remain in effect until 48 hours after the results are publicly disclosed. This is a standard procedural filing and does not indicate any change in business fundamentals.

Trading window closure begins on July 1, 2026
Closure pertains to the financial results for the quarter ending June 30, 2026
Window to remain closed until 48 hours after the declaration of results
Applicable to all Designated Persons and their immediate relatives

💡 Investors should wait for the company to announce the specific date of the board meeting for Q1 results to evaluate performance against the target of Rs 2,000 Cr annual revenue.

Mangalam Cement Announces ₹1.50 Dividend for FY 2025-26; Sets Record Date for Aug 14

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 19 Jun 2026, 06:59 PM

Mangalam Cement Limited has recommended a final dividend of ₹1.50 per equity share (15% of face value) for the financial year 2025-26. The dividend is subject to shareholder approval at the upcoming Annual General Meeting scheduled for August 21, 2026. The company has established August 14, 2026, as the record date to identify eligible shareholders. Payments are expected to be processed on or after August 25, 2026, net of applicable Tax Deduction at Source (TDS).

Recommended dividend of ₹1.50 per equity share of ₹10 each for FY 2025-26.
Record date for determining dividend eligibility is fixed as August 14, 2026.
Annual General Meeting (AGM) for shareholder approval is scheduled for August 21, 2026.
Dividend payment to commence on or after August 25, 2026, following approval.
Standard TDS of 10% applies for resident shareholders with valid PAN, increasing to 20% without PAN.

💡 Investors interested in the dividend should ensure they hold the stock before the record date of August 14, 2026. It is also advised to update PAN and bank details with the Depository Participant to ensure correct tax treatment and timely credit.

Mangalam Cement FY26 Net Profit Jumps 186% to ₹128.9 Cr; ₹1.50 Dividend Declared

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 16 May 2026, 10:35 PM

Mangalam Cement reported a robust performance for FY26, with net profit soaring to ₹128.95 crore from ₹45.06 crore in FY25. While a deferred tax credit of ₹55.14 crore significantly aided the bottom line, Profit Before Tax also grew by 34.5% to ₹94.19 crore. The company recommended a final dividend of ₹1.50 per share and appointed Pankaj Kumar as Joint President (Operations). Revenue grew 4.6% YoY to ₹1,758.41 crore.

Net Profit increased 186% YoY to ₹128.95 crore, supported by a ₹55.14 crore deferred tax credit.
Revenue from operations rose 4.6% to ₹1,758.41 crore for the full year ended March 31, 2026.
Board recommended a final dividend of ₹1.50 per equity share with a record date of August 14, 2026.
Full-year EPS rose to ₹46.90 from ₹16.39 in the previous year.
Profit Before Tax (PBT) grew to ₹94.19 crore from ₹69.99 crore YoY despite ₹21.76 crore in exceptional items.

💡 The sharp rise in PAT is partly due to one-time tax adjustments, but the 34% PBT growth shows solid operational improvement. Investors should monitor the impact of new labor codes and legal proceedings mentioned in exceptional items.

Mangalam Cement Appoints Shri Pankaj Kumar as Joint President (Operations)

🟢 POSITIVE ⭐ 4/10

MANAGEMENT 📅 16 May 2026, 05:40 PM

Mangalam Cement Limited has appointed Shri Pankaj Kumar as Joint President (Operations) effective May 16, 2026. Mr. Kumar is a seasoned professional with approximately 29 years of experience in the cement industry, having previously held senior roles at major competitors including Shree Cement and UltraTech Cement. This appointment to the Senior Management Personnel category is expected to bolster the company's operational leadership. The decision was finalized during a Board meeting held on May 16, 2026, following recommendations from the Nomination and Remuneration Committee.

Shri Pankaj Kumar appointed as Joint President (Operations) effective May 16, 2026
Appointee brings 29 years of specialized experience in the cement industry
Previous experience includes leadership roles at Shree Cement, UltraTech Cement, and My Home Industries
The appointment was approved in a Board meeting conducted between 1:00 P.M. and 4:00 P.M. on the same day

💡 Investors should view this as a positive step in strengthening operational expertise, though no immediate portfolio changes are necessary. Monitor for improvements in plant efficiency or production metrics in upcoming quarters.

View All MANGLMCEM Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Revenue from operations decreased by 2.58% YoY, falling from INR 1,725.48 Cr in FY24 to INR 1,680.99 Cr in FY25. The company operates as a single-segment entity focused on cement manufacturing.

Geographic Revenue Split

Not explicitly disclosed in percentage terms, but the company faces high geographical concentration risks, primarily operating in Rajasthan with a significant presence in the Kota region as evidenced by local newspaper advertisements.

Profitability Margins

Profit Before Tax (PBT) margin contracted from 5.74% in FY24 to 4.16% in FY25. Net Profit Before Tax fell 29.38% YoY to INR 69.99 Cr from INR 99.11 Cr, driven by higher freight and finance costs despite lower power expenses.

EBITDA Margin

Operating profit before working capital changes stood at INR 196.87 Cr in FY25, representing an 11.3% margin on total income, a decrease from the 12.2% margin (INR 215.42 Cr) recorded in FY24.

Capital Expenditure

Historical capital expenditure for FY25 was INR 125.41 Cr, primarily directed towards the purchase of property, plant, and equipment and capital work-in-progress, compared to INR 98.75 Cr in FY24.

Credit Rating & Borrowing

The company maintains an adequate liquidity profile with gross cash accruals of INR 156 Cr in FY24. PBILDT interest coverage improved to 3.48x in 9MFY24. Total borrowings as of March 31, 2025, include non-current borrowings of INR 194.23 Cr and current borrowings of INR 420.69 Cr.

⚙️ Operational Drivers

Raw Materials

Primary raw materials include Limestone (partially procured from high-cost open markets), Fly Ash, and Gypsum. Cost of materials consumed was INR 296.57 Cr in FY25, representing 17.6% of total revenue.

Import Sources

Limestone is sourced from local mines and open markets; specific states or countries for other additives are not disclosed in the available documents.

Capacity Expansion

Current capacity is not explicitly stated in MTPA; however, the company is targeting a scale of operation with total operating income exceeding INR 2,000 Cr to trigger a positive rating action.

Raw Material Costs

Raw material costs increased by 2.03% YoY to INR 296.57 Cr in FY25. The company faces pressure from high-cost limestone procurement from open markets which limits margin expansion.

Manufacturing Efficiency

Operating efficiency is being targeted through moderation in input costs; however, specific capacity utilization percentages were not disclosed.

Logistics & Distribution

Freight and Forwarding costs increased by 8.39% YoY to INR 383.32 Cr in FY25, representing 22.8% of revenue, up from INR 353.63 Cr in FY24.

📈 Strategic Growth

Expected Growth Rate

19%

Growth Strategy

The company aims to reach a total operating income of over INR 2,000 Cr (a 19% increase from current levels) by improving scale and maintaining PBILDT margins above 18%. Strategy includes optimizing the sales mix, leveraging state government subsidies/rebates, and reducing overall gearing to below 0.5x.

Products & Services

The company sells cement bags and related cementitious products to retail and institutional customers.

Brand Portfolio

Mangalam Cement.

Market Expansion

The company is focusing on improving its sales mix and eligibility for subsidies from various state governments to enhance realizations.

Strategic Alliances

The company has no subsidiaries, joint ventures, or associates as of March 31, 2025.

🌍 External Factors

Industry Trends

The cement industry is characterized by cyclicality and regional supply-demand imbalances. Current trends show a moderation in input costs but persistent competitive pressure in high-density regions like Rajasthan.

Competitive Landscape

Faces intense competition from larger players like ACC and regional competitors, which limits its pricing power and market share expansion.

Competitive Moat

The company lacks a strong national moat, operating as a modest-scale player with geographical concentration. Its competitive advantage is tied to regional brand presence and state-level subsidies.

Macro Economic Sensitivity

Highly sensitive to the cyclicality of the cement industry and infrastructure spending. Profitability is directly tied to volatility in coal/petcoke prices (Power & Fuel) and diesel prices (Freight).

Consumer Behavior

Demand is driven by regional construction cycles and government infrastructure projects in Northern India.

Geopolitical Risks

Exposure to global fuel price volatility affects power and fuel costs, which constitute over 27% of total expenses.

⚖️ Regulatory & Governance

Industry Regulations

Subject to environmental norms for cement plants and mining regulations for limestone extraction. Complies with Section 186 of the Companies Act for investments.

Environmental Compliance

The company spent its required CSR amounts for FY25, with no unspent balance remaining.

Taxation Policy Impact

Current tax/MAT for FY25 was INR 12.17 Cr, representing an effective tax rate of approximately 17.4% on PBT.

Legal Contingencies

Pending litigations regarding uncertain positions of duty, taxes, and cess were identified as Key Audit Matters. Specific case values were not aggregated in the summary, but Note 42.2 in the full report details these impacts.

⚠️ Risk Analysis

Key Uncertainties

Uncertainty regarding the outcome of pending tax and duty disputes could lead to significant financial settlements. Volatility in input prices (Power/Fuel) poses a risk to the 11.3% EBITDA margin.

Geographic Concentration Risk

High risk with operations primarily concentrated in a single region, making it vulnerable to local economic downturns and regional pricing wars.

Third Party Dependencies

Significant dependency on open-market suppliers for high-cost limestone and external power/fuel vendors.

Technology Obsolescence Risk

The company uses SAP for accounting with audit trail features, though database-level logging was noted as an exception, indicating a need for further digital control strengthening.