Mangalam Worldwide Q1 FY25 Net Profit Jumped 143 per cent
Aug 08, 2024
PNN
Mumbai (Maharashtra) [India], August 8: Mangalam Worldwide Limited (MWL) (NSE EMERGE - MWL), a fully integrated stainless-steel company, reported Unaudited Financial Results for the Q1 FY25.
Consolidated Key Financial Highlights of Q1 FY25:
* Total Income of Rs 230.21 Cr, YoY growth of 13.8s8%
* EBITDA of Rs 12.88 Cr, YoY growth of 78.50%
* EBITDA Margin of 5.60%, YoY growth of 203 Bps
* Net Profit of Rs 6.01 Cr, YoY growth of 143.28%
* Net Profit Margin of 2.61%, YoY growth of 139 Bps
* EPS of Rs 2.45, YoY growth of 142.57%
Commenting on the performance, Vipin Prakash Mangal, Chairman of Mangalam Worldwide Limited said, "I am pleased to report that our financial performance in Q1 FY25 was outstanding, setting a strong foundation for the rest of the year. We are entering a transformative phase with a strategic focus on enhancing our production capabilities and expanding our market reach. Our primary focus will be on the production of stainless steel, flat bars and round bars.
In the forthcoming years, we will significantly increase our capital expenditure to boost our finished goods capacity from 60% to 90%. This expansion will enhance our production capabilities and open up numerous opportunities for growth and innovation. We are expanding our geographic distribution in the southern part of India, allowing us to better serve our customers and tap into new markets.
Our commitment to excellence in manufacturing and trading steel products remains unwavering. We believe that these initiatives will drive significant value for our customers and position us for sustained growth in the future."
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Credit Ratings
Company has received a long-term rating of 'BBB+' and a short-term rating of 'A2' from Acuite Ratings & Research for its bank facilities.
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