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Mangalam Cement

08-Nov-2025 | 17:46
Net sales up 10% YoY to Rs 394.9 crore in Q2FY2026
On standalone basis

Quarter ended September 2025 compared with Quarter ended September 2024.

Net sales (including other operating income) of Mangalam Cement has increased 9.95% to Rs 394.88 crore.  

Operating profit margin has jumped from 8.39% to 10.81%, leading to 41.77% rise in operating profit to Rs 42.70 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 19.95% to 18.13%.   Employee cost decreased from 8.59% to 8.02%.   Other expenses rose from 63.75% to 64.01%.   Selling and administration expenses rose from 20.58% to 20.70%.   Power and Oil fuel cost rose from 29.06% to 30.06%.   

Other income fell 4.60% to Rs 9.75 crore.  PBIDT rose 30.02% to Rs 52.45 crore.  Provision for interest fell 9.31% to Rs 15.78 crore.  Loan funds rose to Rs 734.11 crore as of 30 September 2025 from Rs 646.17 crore as of 30 September 2024.  Inventories rose to Rs 365.19 crore as of 30 September 2025 from Rs 317.95 crore as of 30 September 2024.  Sundry debtors were higher at Rs 37.00 crore as of 30 September 2025 compared to Rs 34.08 crore as of 30 September 2024.  Cash and bank balance declined from Rs 160.39 crore as of 30 September 2024 to Rs 145.31 crore as of 30 September 2025.  Investments declined from Rs 97.51 crore as of 30 September 2024 to Rs 76.26 crore as of 30 September 2025.  

PBDT rose 59.85% to Rs 36.67 crore.  Provision for depreciation rose 4.82% to Rs 20.23 crore.  Fixed assets increased to Rs 1,255.95 crore as of 30 September 2025 from Rs 1,171.27 crore as of 30 September 2024.  Intangible assets declined from Rs 8.73 crore to Rs 8.33 crore.  

Profit before tax grew 351.65% to Rs 16.44 crore.  Provision for tax was credit of Rs 3.67 crore, compared to debit of Rs 0.36 crore.  Effective tax rate was negative 22.32% compared to 9.89%.

Profit after tax rose 513.11% to Rs 20.11 crore.  

Equity capital stood at Rs 27.50 crore as of 30 September 2025 to Rs 27.50 crore as of 30 September 2024.  Per share face Value remained same at Rs 10.00.  

Promoters? stake was 40.00% as of 30 September 2025 ,compared to 36.94% as of 30 September 2024 .  

year-to-date (YTD) results analysis

Net sales (including other operating income) of Mangalam Cement has increased 14.45% to Rs 846.62 crore.  

Operating profit margin has jumped from 8.09% to 13.92%, leading to 97.09% rise in operating profit to Rs 117.88 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 18.89% to 16.43%.   Employee cost decreased from 8.61% to 7.97%.   Other expenses fell from 65.02% to 62.58%.   Selling and administration expenses rose from 20.95% to 21.59%.   Power and Oil fuel cost fell from 29.51% to 26.52%.   

Other income fell 51.50% to Rs 20.37 crore.  PBIDT rose 35.79% to Rs 138.25 crore.  Provision for interest fell 4.58% to Rs 32.29 crore.  Loan funds rose to Rs 734.11 crore as of 30 September 2025 from Rs 646.17 crore as of 30 September 2024.  Inventories rose to Rs 365.19 crore as of 30 September 2025 from Rs 317.95 crore as of 30 September 2024.  Sundry debtors were higher at Rs 37.00 crore as of 30 September 2025 compared to Rs 34.08 crore as of 30 September 2024.  Cash and bank balance declined from Rs 160.39 crore as of 30 September 2024 to Rs 145.31 crore as of 30 September 2025.  Investments declined from Rs 97.51 crore as of 30 September 2024 to Rs 76.26 crore as of 30 September 2025.  

PBDT rose 55.89% to Rs 105.96 crore.  Provision for depreciation rose 6.32% to Rs 40.38 crore.  Fixed assets increased to Rs 1,255.95 crore as of 30 September 2025 from Rs 1,171.27 crore as of 30 September 2024.  Intangible assets declined from Rs 8.73 crore to Rs 8.33 crore.  

Profit before tax grew 118.67% to Rs 65.58 crore.  Provision for tax was expense of Rs 13.22 crore, compared to Rs 9.65 crore.  Effective tax rate was 20.16% compared to 32.18%.

Profit after tax rose 157.42% to Rs 52.36 crore.  

Equity capital stood at Rs 27.50 crore as of 30 September 2025 to Rs 27.50 crore as of 30 September 2024.  Per share face Value remained same at Rs 10.00.  

Promoters? stake was 40.00% as of 30 September 2025 ,compared to 36.94% as of 30 September 2024 .  


Full year results analysis

Net sales (including other operating income) of Mangalam Cement has declined 2.58% to Rs 1,680.99 crore.  

Operating profit margin has declined from 11.73% to 9.37%, leading to 22.22% decline in operating profit to Rs 157.44 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 16.26% to 17.77%.   Employee cost increased from 7.17% to 7.93%.   Other expenses fell from 65.25% to 64.87%.   Selling and administration expenses rose from 19.78% to 22.97%.   Power and Oil fuel cost fell from 31.40% to 27.47%.   

Other income up 57.54% to Rs 60.62 crore.  PBIDT fell 9.48% to Rs 218.06 crore.  Provision for interest up 2.74% to Rs 69.43 crore.  Loan funds rose to Rs 627.32 crore as of 31 March 2025 from Rs 607.48 crore as of 31 March 2024.  Inventories declined from Rs 307.60 crore as of 31 March 2024 to Rs 275.25 crore as of 31 March 2025.  Sundry debtors were higher at Rs 39.72 crore as of 31 March 2025 compared to Rs 34.48 crore as of 31 March 2024.  Cash and bank balance rose to Rs 167.17 crore as of 31 March 2025 from Rs 155.08 crore as of 31 March 2024.  Investments rose to Rs 91.47 crore as of 31 March 2025 from Rs 83.98 crore as of 31 March 2024 .  

PBDT fell 14.25% to Rs 148.63 crore.  Provision for depreciation rose 5.97% to Rs 78.64 crore.  Fixed assets declined from Rs 1,195.86 crore as of 31 March 2024 to Rs 1,174.38 crore as of 31 March 2025.  Intangible assets declined from Rs 8.93 crore to Rs 8.53 crore.  

Profit before tax down 29.38% to Rs 69.99 crore.  Provision for tax was expense of Rs 24.93 crore, compared to Rs 39.39 crore.  Effective tax rate was 35.62% compared to 39.74%.

Profit after tax fell 24.55% to Rs 45.06 crore.  

Equity capital stood at Rs 27.50 crore as of 30 September 2025 to Rs 27.50 crore as of 30 September 2024.  Per share face Value remained same at Rs 10.00.  

Promoters? stake was 39.52% as of 31 March 2025 ,compared to 36.94% as of 31 March 2024 .  

Cash flow from operating activities increased to Rs 187.63 crore for year ended March 2025 from Rs 182.46 crore for year ended March 2024.  Cash flow used in acquiring fixed assets during the year ended March 2025 stood at Rs 125.41 crore, compared to Rs 98.75 crore during the year ended March 2024.  

Mangalam Cement : Standalone Results
Quarter endedYear to DateYear ended
Particulars202509202409Var.(%)202509202409Var.(%)202503202403Var.(%)
Net Sales (including other operating income)394.88359.149.95846.62739.7114.451,680.991,725.48-2.58
OPM (%)10.818.39243 bps13.928.09584 bps9.3711.73-237 bps
OP42.7030.1241.77117.8859.8197.09157.44202.42-22.22
Other Inc.9.7510.22-4.6020.3742.00-51.5060.6238.4857.54
PBIDT52.4540.3430.02138.25101.8135.79218.06240.90-9.48
Interest15.7817.4-9.3132.2933.84-4.5869.4367.582.74
PBDT36.6722.9459.85105.9667.9755.89148.63173.32-14.25
Depreciation20.2319.34.8240.3837.986.3278.6474.215.97
PBT16.443.64351.6565.5829.99118.6769.9999.11-29.38
PBT before EO16.443.64351.6565.5829.99118.6769.9999.11-29.38
EO Income00-00-00-
PBT after EO16.443.64351.6565.5829.99118.6769.9999.11-29.38
Taxation-3.670.36LP13.229.6536.9924.9339.39-36.71
PAT20.113.28513.1152.3620.34157.4245.0659.72-24.55
P/(L) from discontinued operations net of tax00-00-00-
Net profit after discontinued operations20.113.28513.1152.3620.34157.4245.0659.72-24.55
EPS (Rs)*7.311.19513.1119.047.40157.4216.3921.72-24.55
* EPS is on current equity of Rs 27.50 crore, Face value of Rs 10, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database
Peer Comparision (Standalone) Q-202509
Sales
(Rs. Crs) 		var.(%) OP
(Rs. Crs) 		var.(%) Net Profit
(Rs. Crs) 		var.(%) Share Price(Rs)
07-Nov-2025 		var.(%)
over
One year 		TTM EPS TTM PE
Mangalam Cement Ltd 394.88 9.95 42.70 41.77 20.11 513.11 766.90 -12.05 28.04 27.35
ACC Ltd 5,852.46 26.43 819.50 90.94 1,112.16 375.55 1,842.20 -20.60 170.72 10.79
Ambuja Cements Ltd 5,148.73 21.76 258.77 -61.97 1,570.66 213.72 558.75 -2.06 16.38 34.10
Birla Corporation Ltd 1,229.40 9.15 129.39 191.88 53.12 LP 1,214.90 4.88 37.15 32.71
HeidelbergCement India Ltd 511.66 10.89 57.53 53.58 24.93 122.39 188.90 -17.87 5.68 33.24
J K Cements Ltd 2,858.51 18.59 439.75 62.55 175.78 334.35 5,632.35 38.29 141.34 39.85
JK Lakshmi Cement Ltd 1,531.77 24.1 208.13 133.88 82.33 LP 844.80 8.91 37.33 22.63
JSW Cement Ltd 1,322.20 13.08 257.56 102.36 95.94 LP 127.55 0.00 2.20 58.07
Nuvoco Vistas Corporation Ltd 2,143.08 8.7 280.40 68.71 32.53 LP 381.20 7.70 5.46 69.78
Prism Johnson Ltd 1,703.50 12.33 176.51 345.96 17.86 LP 142.00 -25.34 1.89 74.99
Sanghi Industries Ltd 284.93 88.07 24.87 LP -116.55 -56.48 64.55 -26.84 -17.26 -
Saurashtra Cement Ltd 385.64 30.16 -9.79 75.48 -11.03 64.98 97.90 -18.35 2.59 37.77
Shree Cement Ltd 4,303.20 15.46 851.34 43.68 277.14 197.58 27,370.75 10.52 465.91 58.75
Shree Digvijay Cement Co. Ltd 161.35 11.15 19.42 139.75 10.23 2457.5 89.83 -2.10 2.54 35.37
Star Cement Ltd 521.67 29.53 87.30 LP 15.35 LP 247.10 21.16 0.79 311.32
UltraTech Cement Ltd 17,864.43 14.77 2,770.21 42.68 1,063.85 56.53 11,850.60 7.09 247.80 47.82
Industry 46,217.41 17.32 6,413.59 53.81 4,424.41 254.55 772,623.59 4.92 38.67

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