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MEIL IPO

Mangal Electrical Industries Limited
IPO Doc
Start Date20-08-2025
Application Timing10am-5pm
Price Range₹533 - ₹561
Min Qty26
Min. Investment₹13858
Listing Date28-08-2025
Close Date22-08-2025

About Mangal Electrical Industries Limited

Incorporated in 2008, Mangal Electrical Industries Ltd. is a leading manufacturer of transformers and transformer components used in the distribution and transmission of electricity across the power sector. The company operates under the brand name “Mangal Electrical”, which is recognized for strong brand recall and quality.

Its product portfolio includes CRGO coils, CRNO coils, amorphous ribbons, coil and core assemblies, toroidal cores, oil-immersed circuit breakers, and EPC services for power substations. With five production facilities in Rajasthan, the company has an annual capacity of 16,200 MT for CRGO, 10,22,500 KVA for transformers, 75,000 units of ICB, and 2,400 MT for amorphous units.

As of June 30, 2025, the company had a workforce of 761 employees across its facilities and offices.

Why To Invest in Mangal Electrical Industries Limited

Strong Financial Growth: Revenue grew by 22% and Profit After Tax (PAT) increased by 126% between FY24 and FY25.
Healthy Margins: EBITDA margin stands at 14.9% and PAT margin at 8.61%, reflecting strong operational performance.
Market Leadership: Proven expertise in transformer manufacturing and EPC services with a diversified customer base.
Capacity Expansion: Fresh issue proceeds will be utilized for repayment of borrowings, capacity expansion, and working capital requirements, which strengthens future growth.
Promoter Strength: Led by experienced promoters with deep knowledge of the industry and strong backward and forward integration.
Attractive KPIs: ROE of 29%, ROCE of 25.38%, and RoNW of 34.14% reflect financial stability and profitability.

Financial Table
Period Ended 31 Mar 2025 31 Mar 2024 31 Mar 2023
Assets366.46 246.54 221.26
Total Income 551.39452.13357.81
Profit After Tax 47.3120.9524.74
EBITDA81.84 42.6344.42
Net Worth 162.16114.9993.97
Total Borrowing 149.1292.1296.64
Strengths And Risks
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Experienced Promoters and Management Team: The company is led by Rahul Mangal and family, supported by an experienced senior management team that brings strong industry knowledge and execution capabilities.
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Diversified Customer Base: Mangal Electrical serves a wide range of clients across the power sector, reducing dependency on a single customer and ensuring stable revenue flow.
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Strong Backward and Forward Integration: The company has established complete integration from raw materials to finished products, ensuring better operational efficiency, cost savings, and quality control.
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Consistent Financial Growth: With a 22% increase in revenue and a 126% rise in PAT between FY24 and FY25, the company has demonstrated a solid track record of financial growth and profitability.
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Approvals and Certifications: The company holds specific approvals and certifications that are limited to selected market players, giving it a competitive advantage and credibility in the industry.
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High Debt Levels: The company’s Debt-to-Equity ratio of 0.92 indicates significant borrowing, which may impact financial flexibility and profitability.
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Dependency on Power Sector Cycles: Since the company’s business is closely tied to the power and infrastructure sector, any slowdown in these industries could affect performance.
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Intense Industry Competition: The transformer manufacturing and EPC sector is highly competitive, with multiple players offering similar products, which can put pressure on margins.
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Promoter Shareholding Dilution: Post-issue, promoter shareholding will reduce from 100% to 74.19%, which may affect overall control of the promoters.
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Rising Raw Material Costs: The company relies heavily on materials like CRGO and CRNO coils. Any volatility in raw material prices can increase production costs and reduce profitability.
FAQs
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