Mangalam Global Enterprise Ltd. (MGEL) AI Stock Analysis

• Market Cap: ₹3.35B
• Dividend Yield: 0.07%
• Average Volume (3M): 165.12K
• Price to Earnings (P/E): 13.7
• Beta (1Y): 0.47
• Revenue Growth: 12.35%
• EPS Growth: 22.87%
• Country: IN
• Employees: 61
• Sector: Services
• Sector Strength: N/A
• Industry: Agricultural Farm Products
• EPS (TTM): 0.26
• Shares Outstanding: 329,555,600
• 10 Day Avg. Volume: 94,321
• 30 Day Avg. Volume: 165,119
• PEG Ratio: 7.20
• Price to Book (P/B): 2.36
• Price to Sales (P/S): 0.21
• P/FCF Ratio: -9.93
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: ₹11.00 ▼(-21.32% Downside)
• Action: Reiterated Date: 03/03/26
• Date: Action: Reiterated 03/03/26

The score is driven primarily by solid underlying financial performance and attractive valuation (low P/E and high dividend yield). These positives are offset by notably weak technical momentum (below major moving averages with negative MACD and oversold indicators) and ongoing cash-flow quality concerns (negative free cash flow).

Positive Factors

Clear trading/distribution model

Mangalam operates a durable, asset-light trading and distribution model focused on agri-commodities, deriving revenue from procurement-to-sale spreads and value-added services (grading, packaging, logistics). This model supports recurring turnover, operational scalability and margin capture across domestic and export channels.

Strong revenue growth trend

Reported revenue growth near 25% and management commentary showing a strong increase year-over-year indicate durable demand expansion and market penetration. Sustained top-line growth alleviates pressure on unit margins and provides capacity to invest in operations and customer relationships over the medium term.

Improving operating cash flow

Operating cash flow improvement signals better conversion of earnings into cash from core trading activities, enhancing working-capital management in a commodity business. Improved OCF reduces short-term financing needs and supports reinvestment in processing, logistics, and customer-service capabilities.

Negative Factors

Negative free cash flow

Persistent negative free cash flow limits the company's ability to self-fund capital expenditures, reduce debt, or build cash buffers. For a trading-centric firm, negative FCF increases reliance on external financing or working-capital suppliers, amplifying vulnerability to funding cost rises or tighter credit markets.

Moderate leverage / liability risk

A balance sheet dependent on liabilities versus equity raises refinancing and interest-rate sensitivity, especially in cyclical commodity markets. Leverage constrains strategic flexibility, heightens liquidity risk during price shocks, and may force prioritization of debt service over growth or operational investments.

EBITDA margin variability

Fluctuating EBITDA margins point to inconsistent operating expense control or exposure to volatile input and logistics costs. In commodity distribution this variability undermines forward earnings visibility, complicates budgeting and weakens confidence in sustainable cash generation during adverse market cycles.

Mangalam Global Enterprise Ltd. Business Overview & Revenue Model

Company Description

Mangalam Global Enterprise Limited, together with its subsidiaries, engages in the manufacturing, dealing, and trading of edible and non-edible oils, and agricultural products India and internationally. Its products include soya oil, soya meal, soya de oiled cake, mustard oil, mustard meal, mustard de oiled cake, refined castor oil first special grade, castor de-oiled cake, high protein castor de-oiled cake, and cotton bales. The company also trades in wheat, rice, etc. and other merchandise; processes wheat and rice; provides agency services. In addition, it offers refined soyabean oil, refined vegetable oil and pungent mustard oil under the LAGNAM brand name. The company was formerly known as Mangalam Global Enterprise Private Limited and changed its name to Mangalam Global Enterprise Limited in September 2019. Mangalam Global Enterprise Limited was founded in 1942 and is based in Ahmedabad, India.

How the Company Makes Money

MGEL generates revenue through multiple channels. Primarily, the company earns income from the sale of its manufactured products, which include textiles and consumer goods, to wholesalers, retailers, and end consumers. Additionally, MGEL engages in trading activities, sourcing products from various suppliers to meet market demands, thus earning a profit margin on these transactions. The company also benefits from strategic partnerships with local and international distributors, which enhance its market reach and sales volume. Furthermore, MGEL may explore opportunities in contract manufacturing, providing services to other brands, thereby diversifying its revenue streams. Overall, the combination of manufacturing, trading, and strategic partnerships contributes significantly to MGEL's financial performance.

Mangalam Global Enterprise Ltd. Financial Statement Overview

Summary

Solid profitability and revenue growth (Income Statement score 78) and improving operating cash flow (Cash Flow score 72) support a constructive view, but balance-sheet leverage/liability financing risk (Balance Sheet score 65) and negative free cash flow temper the strength.

Income Statement

Mangalam Global Enterprise Ltd. has demonstrated robust revenue growth over the years, with a strong increase from 2024 to 2025. The gross profit margin has remained stable, indicating effective cost management despite an industry that can be volatile. The net profit margin has also shown a positive trajectory, reflecting improved bottom-line efficiency. However, the EBITDA margin has seen some fluctuation, which might suggest variability in operating expenses or other operational challenges.

Balance Sheet

The company's balance sheet reveals a moderate debt-to-equity ratio, suggesting a balanced approach to leveraging. However, the equity ratio indicates that a significant portion of the company's assets is financed through liabilities, which could pose risks if external economic conditions change. Return on equity has improved, reflecting better utilization of shareholder funds, although the stockholders' equity has grown at a slower pace compared to total assets.

Cash Flow

Cash flow analysis shows a concerning pattern of negative free cash flow, though there is a notable improvement in operating cash flow in the latest period. The free cash flow to net income ratio indicates that not all earnings are converting into free cash flow, which could impact future investments or debt repayments. The operating cash flow to net income ratio suggests better alignment recently, highlighting improved cash generation from core operations.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	24.60B	22.81B	18.39B	14.25B	12.76B	9.58B
Gross Profit	745.67M	781.78M	723.41M	848.99M	361.24M	428.29M
EBITDA	579.07M	441.60M	516.00M	338.93M	199.28M	163.79M
Net Income	235.22M	231.01M	202.08M	126.96M	43.03M	57.93M
Balance Sheet
Total Assets	0.00	5.56B	4.20B	4.39B	2.71B	2.21B
Cash, Cash Equivalents and Short-Term Investments	7.95M	146.42M	16.14M	25.86M	17.97M	32.66M
Total Debt	0.00	2.24B	2.01B	2.37B	1.37B	1.22B
Total Liabilities	-2.02B	3.54B	2.81B	3.25B	1.91B	1.52B
Stockholders Equity	2.02B	2.02B	1.39B	1.14B	796.28M	688.16M
Cash Flow
Free Cash Flow	0.00	-478.26M	377.18M	-1.08B	-285.92M	-577.99M
Operating Cash Flow	0.00	-390.79M	398.60M	-672.28M	-285.92M	-470.09M
Investing Cash Flow	0.00	39.66M	16.56M	-410.88M	341.91M	-120.15M
Financing Cash Flow	0.00	342.95M	-424.88M	1.09B	-70.68M	611.57M

Mangalam Global Enterprise Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 13.98
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MGEL, the sentiment is Negative. The current price of 13.98 is above the 20-day moving average (MA) of 11.62, above the 50-day MA of 12.55, and below the 200-day MA of 14.60, indicating a bearish trend. The MACD of -0.65 indicates Positive momentum. The RSI at 30.35 is Neutral, neither overbought nor oversold. The STOCH value of 13.08 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MGEL.

Mangalam Global Enterprise Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MGEL	66 Neutral	₹3.35B	13.68	―	0.07%	12.35%	22.87%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
CINEVISTA	43 Neutral	₹861.55M	6.41	―	―	37558.79%	-267.29%
TNTELE	43 Neutral	₹418.44M	-3.30	―	―	―	―
CYBERMEDIA	41 Neutral	₹305.16M	-57.30	―	―	3.93%	-6902.88%
SHANTI	39 Underperform	₹73.41M	1.54	―	―	220.47%	-47.38%

Mangalam Global Enterprise Ltd. Corporate Events

Mangalam Global Shareholders Approve 2026 ESOP via Postal Ballot

Mangalam Global Enterprise Ltd. has reported the results of a postal ballot process in which shareholders approved key resolutions via remote electronic voting on February 20, 2026. The exercise was conducted in compliance with the Companies Act, SEBI listing regulations, and multiple Ministry of Corporate Affairs circulars governing e-voting and postal ballots.

Through this postal ballot, shareholders cleared the implementation of the Employee Stock Option Plan 2026 for eligible employees of the company as well as those of its subsidiary and wholly owned subsidiary entities. The approval of this ESOP framework is expected to strengthen employee alignment and retention across the group, potentially supporting long-term growth and enhancing corporate governance practices in line with market norms for listed companies.

Mangalam Global Seeks Stock Exchange No-Objection Under SEBI Regulation 31A

Mangalam Global Enterprise Limited has notified the stock exchange that it has submitted an application to recognized stock exchanges seeking a no-objection certificate under Regulation 31A(8)(c) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This step indicates the company is pursuing a change related to its shareholding or classification of shareholders in compliance with SEBI’s regulatory framework, a move that could affect its governance structure and stakeholder composition once approved.

Mangalam Global Seeks Shareholder Nod for Group-Wide ESOP 2026 via Postal Ballot

Mangalam Global Enterprise Ltd. has initiated a postal ballot process to seek shareholder approval for its Employee Stock Option Plan 2026, including the grant of stock options to eligible employees of the company as well as those of its wholly owned and other subsidiary companies. The voting will be conducted exclusively through remote e-voting between January 22 and February 20, 2026, with electronic dispatch of the ballot notice to shareholders whose email IDs are registered, and an independent scrutinizer appointed to oversee the process; the outcome, which will determine the implementation of the ESOP framework and its potential role in employee incentivization and group-wide talent retention, will be announced within two working days of the voting period’s conclusion and posted on the company’s and stock exchanges’ websites.