On 6 Nov 2026, Mangalam Cement was priced at ₹913.25, or 21.9× trailing earnings, against an industry P/E of 27.3×, and the shares are 18% below their 52-week high. Sales fell 0.7% a year over 3 years while net profit grew 96%, with ROCE of 9.3% and ROE of 11%. Debt is 0.98× equity, and its dividend yield is 0.2%. It is a small-cap company with a market cap of ₹2,511 Cr, ranked 20th of 58 Building Materials companies by market cap; the shares rose 19% over the past year.
- ₹904.00
- ₹914.90
- ₹886.65
- ₹903.15
- 43.5K
Health check
- ReturnsAhead
+19.0% over a year, better than 7 of 7 peers.
- Price tagCheaper
P/E 21.9 vs industry 27.3.
- GrowthSteady
Sales −0.7%, profit +96.0% a year over 3 years.
- ProfitabilityWeak
ROCE 9.3% vs peer median 10.2%.
- Balance sheetFair
Debt 0.98× equity, interest covered 5.8×.
- Red flags1 to check
Quarterly profit down 44.0% on a year ago.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹2,511 Cr
- Small cap
- P/E
- 21.9
- Industry 27.3
- Price to book
- 2.51
- Peers 2.12
- Dividend yield
- 0.16%
- ROE
- 10.7%
- Peers 4.9%
- ROCE
- 9.3%
- Peers 10.2%
- Debt to equity
- 0.98
- Debt ₹977 Cr
- EPS (TTM)
- ₹41.73
- Face value ₹10
- OPM (TTM)
- 11.1%
- Net margin 5.7%
- Sales growth
- +0.8%
- Latest quarter vs a year ago
- Profit growth
- −44.0%
- Latest quarter vs a year ago
- Price to sales
- 1.40
- EV/EBITDA 16.3
Strengths and risks
Strengths
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Quarterly profit down 44.0% on a year ago.
About Mangalam Cement
Mangalam Cement Limited manufactures and sells cement and clinker products in India. The company offers Portland Pozzolana, 43 grade, 53 grade, and fly ash-based PPC cement under the Mangalam ProMaxX and Birla Uttam Cement brands, as well as medium density fibre boards. It sells its products directly to customers, as well as through intermediates, distributors, and dealers. The company serves institutional/commercial customers, dealers, individual house…
- Headquarters
- Kolkata
- Employees
- 992
- Sector
- Basic Materials
- ISIN
- INE347A01017
- Website
- mangalamcement.com
Price range
- Avg volume (3M)
- 1.3 L
- 1-year return
- plus 19.0%
- From 52-week high
- minus 18.5%
Peers · Building Materials
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ULTRACEMCOUltraTech Cement | 12,450.00 | plus 1.63% | 3,66,110 | 41.6 | 22.8 | 11.8% | 19.1% | 0.38 | 11.9% | plus 3.6% |
| GRASIMGrasim Industries | 3,227.00 | minus 0.02% | 2,18,884 | 38.5 | 16.8 | 4.0% | 15.0% | 1.35 | 14.3% | plus 12.0% |
| AMBUJACEMAmbuja Cements | 390.60 | plus 0.67% | 97,057 | 34.7 | 14.6 | 4.6% | 14.3% | 0.01 | – | minus 31.6% |
| SHREECEMShree Cement | 25,100.00 | plus 0.82% | 90,563 | 57.2 | 18.0 | 10.2% | 20.1% | 0.09 | 5.7% | minus 9.8% |
| JKCEMENTJ.K. Cement | 5,239.80 | minus 0.20% | 40,487 | 42.3 | 19.2 | 13.3% | 15.8% | 1.01 | 12.1% | minus 9.1% |
| DALBHARATDalmia Bharat | 1,470.30 | plus 0.27% | 27,602 | 56.3 | 9.6 | 7.0% | 16.5% | 0.57 | 3.0% | minus 28.5% |
| ACCACC | 1,236.20 | plus 0.77% | 23,214 | 26.4 | 7.9 | 10.4% | 8.7% | 0.02 | – | minus 33.1% |
| MANGLMCEMMangalam Cement | 913.25 | plus 1.12% | 2,511 | 21.9 | – | – | 11.1% | 0.98 | – | plus 19.0% |
| Median of 7 peers | – | 0.67% | 90,563 | 41.6 | 16.8 | 10.2% | 15.8% | 0.38 | 11.9% | −9.8% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 452 | 395 | 421 | 490 | 455 | |
| 377 | 352 | 376 | 436 | 402 | |
| 75.2 | 42.7 | 45 | 54 | 53.4 | |
| 16.6% | 10.8% | 10.7% | 11.0% | 11.7% | |
| 10.6 | 9.8 | 7.3 | 16.3 | 10.6 | |
| 16.5 | 15.8 | 15.3 | 16.4 | 18.3 | |
| 20.2 | 20.2 | 20.4 | 20.1 | 22.1 | |
| – | – | −1 | −20.7 | – | |
| 49.1 | 16.4 | 15.6 | 13 | 23.6 | |
| 34.4% | −22.3% | 27.1% | −400.1% | 23.6% | |
| 32.3 | 20.1 | 11.4 | 65.2 | 18.1 | |
| 11.73 | 7.31 | 4.13 | 23.72 | 6.57 |
Profit & loss
- Sales CAGR 3Y
- −0.7%
- Profit CAGR 3Y
- +96.0%
- EPS CAGR 3Y
- +96.0%
- ROE
- 10.7%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,792 | 1,725 | 1,680 | 1,757 | |
| – | minus 3.8% | minus 2.6% | +4.6% | |
| 1,640 | 1,520 | 1,516 | 1,529 | |
| 152 | 205 | 164 | 228 | |
| 8.5% | 11.9% | 9.8% | 13.0% | |
| −4.3 | 7.9 | 20.8 | −0.3 | |
| 40.4 | 49.1 | 44.3 | 39.5 | |
| 69.5 | 74.2 | 78.6 | 80.9 | |
| −10.2 | 10 | 8.1 | −13 | |
| 27.7 | 99.1 | 70 | 94.2 | |
| 38.2% | 39.7% | 35.6% | −36.9% | |
| 17.1 | 59.7 | 45.1 | 129 | |
| – | +248.8% | minus 24.5% | +186.2% | |
| 6.23 | 21.72 | 16.39 | 46.90 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 27.5 | 27.5 | 27.5 | 27.5 | |
| 729 | 784 | 824 | 950 | |
| 621 | 607 | 627 | 888 | |
| 612 | 649 | 687 | 559 | |
| 1,990 | 2,068 | 2,166 | 2,425 | |
| 1,260 | 1,283 | 1,329 | 1,574 | |
| 90.3 | 122 | 151 | 279 | |
| 0.2 | 0.2 | 2.8 | 9.4 | |
| 214 | 216 | 196 | 156 | |
| 426 | 447 | 488 | 406 | |
| 1,990 | 2,068 | 2,166 | 2,425 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 139 | 182 | 188 | 94 | |
| −63.6 | −112 | −132 | −297 | |
| −89.4 | −85.9 | −62.6 | 183 | |
| −14.4 | −15.3 | −7 | −20.3 | |
| −127 | −98.7 | −125 | −348 | |
| 11.5 | 83.7 | 62.2 | −254 | |
| −4.1 | −4.1 | −4.1 | −4.1 |
Shareholding pattern
- Promoters40.00%
- Public60.00%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 40.00% | 60.00% | 0.00 | |
| 30 Jun 2026 | 40.00% | 60.00% | 0.00 | |
| 31 Mar 2026 | 40.00% | 60.00% | 0.00 | |
| 31 Dec 2025 | 40.00% | 60.00% | 0.00 | |
| 30 Sep 2025 | 40.00% | 60.00% | – |
Major shareholders
Filings & events
News
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