MANORG
Mangalam Organics financials
- Market cap
- ₹399 Cr
- Sector
- Chemicals
What Mangalam Organics Limited does
Mangalam Organics manufactures terpene chemistry products (camphor, dipentene, sodium acetate, isobornyl acetate, isoborneol) and synthetic resins (terpene phenolic resin, alkyl phenolic resin, rosin esters) from turpentine sourced globally, at its single plant in Khopoli, Raigad district, Maharashtra. Its B2B Terpene and Synthetic Resin operations supply industrial customers in paints, adhesives, tyres/rubber, printing ink, textiles, leather and fragrance & flavor. Through its subsidiary Mangalam Brands Private Limited, it also sells camphor tablets and homecare/personal-care products directly to consumers under the Mangalam and CamPure brands, distributed via general trade, modern trade, e-commerce and exports.
Segments
- B2B - Terpene Operations
- B2B - Synthetic Resin Operations
- B2C - Retail Operations
- Manufacturing plant
- 1 (Khopoli, Raigad district, Maharashtra)
- Camphor capacity
- ~10,000 MT/year (expansion completed 2022)
- Bhimseni/Isoborneol Flakes capacity
- 2,500 MT/year (expansion completed 2025)
- Product portfolio
- 100+
- Domestic sales/marketing offices
- 8 offices across India
- Modern Trade retail presence
- 4,700+ organized retail stores
Quarterly results
Q1 FY27: revenue up 22.2%, net profit down 40.6% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 138 | 124 | 150 | 147 | 158 +14% | 164 +33% | 154 +3% | 179 +22% |
| EBITDA | 12 | 16 | 20 | 22 | 0 −98% | 19 +23% | 47 +137% | 22 +3% |
| Net profit | 2 | 4 | 5 | 12 | 3 +49% | 4 +19% | 6 +16% | 7 −41% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −18.9% 1Y
1Y: ₹575.3 on 10 Sept 2025 → ₹466.45. High ₹618.65 (5 May 2026), low ₹367.05 (30 Mar 2026).
Financials, as filed
Revenue grew 8.2% a year over 3 years, FY23 to FY26. Operating margin widened to 14.1%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹492 Cr | ₹494 Cr | ₹530 Cr | ₹623 Cr |
| Operating profit | ₹-3 Cr | ₹39 Cr | ₹59 Cr | ₹88 Cr |
| Operating margin | -0.6% | 7.8% | 11.1% | 14.1% |
| Interest | ₹15 Cr | ₹16 Cr | ₹21 Cr | ₹28 Cr |
| Depreciation | ₹18 Cr | ₹20 Cr | ₹21 Cr | ₹28 Cr |
| Net profit | ₹-27 Cr | ₹4 Cr | ₹13 Cr | ₹26 Cr |
| Net margin | -5.6% | 0.9% | 2.4% | 4.1% |
| Cash from operations | ₹77 Cr | ₹73 Cr | ₹-8 Cr | ₹1 Cr |
| Free cash flow | ₹36 Cr | ₹33 Cr | ₹-75 Cr | ₹-59 Cr |
| ROCE | -4.0% | 4.0% | 7.0% | 10.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹9 Cr | ₹9 Cr | ₹9 Cr | ₹9 Cr | ₹9 Cr | ₹9 Cr |
| Reserves | ₹243 Cr | ₹296 Cr | ₹267 Cr | ₹272 Cr | ₹300 Cr | ₹310 Cr |
| Borrowings | ₹24 Cr | ₹212 Cr | ₹190 Cr | ₹173 Cr | ₹352 Cr | ₹359 Cr |
| Other liabilities | ₹35 Cr | ₹44 Cr | ₹40 Cr | ₹31 Cr | ₹69 Cr | ₹62 Cr |
| Total liabilities | ₹311 Cr | ₹560 Cr | ₹506 Cr | ₹485 Cr | ₹729 Cr | ₹740 Cr |
| Fixed assets | ₹121 Cr | ₹198 Cr | ₹227 Cr | ₹244 Cr | ₹262 Cr | ₹328 Cr |
| Capital work in progress | ₹0 Cr | ₹8 Cr | ₹1 Cr | ₹5 Cr | ₹61 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹191 Cr | ₹354 Cr | ₹277 Cr | ₹236 Cr | ₹406 Cr | ₹411 Cr |
| Total assets | ₹311 Cr | ₹560 Cr | ₹506 Cr | ₹485 Cr | ₹729 Cr | ₹740 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs trimmed −0.57 pp while the public added +0.57 pp. The shareholder count shrank 14% to 14,522.
- Promoters
- 58.6%
- DIIs
- 2.2%
- Public
- 39.1%
Since Jun 2025
- DIIs −0.57 pp
- Public +0.57 pp
- Promoters 0.00 pp
How it drifted, 12 quarters
Over this window the public fell from 45.1% to 39.1% — −6.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 54.9%, Public 45.1%.Dec '23: Promoters 54.9%, FIIs 0.0%, Public 45.1%.Mar '24: Promoters 54.9%, FIIs 0.0%, Public 45.1%.Jun '24: Promoters 54.9%, Public 45.1%.Sep '24: Promoters 58.6%, FIIs 0.1%, DIIs 1.4%, Public 39.8%.Dec '24: Promoters 58.6%, DIIs 1.4%, Public 39.9%.Mar '25: Promoters 58.6%, DIIs 1.4%, Public 39.9%.Jun '25: Promoters 58.6%, DIIs 2.8%, Public 38.6%.Sep '25: Promoters 58.6%, DIIs 3.6%, Public 37.7%.Dec '25: Promoters 58.6%, DIIs 3.6%, Public 37.7%.Mar '26: Promoters 58.6%, DIIs 3.6%, Public 37.7%.Jun '26: Promoters 58.6%, DIIs 2.2%, Public 39.1%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Mangalam Organics Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Tradechem Organics Limited | 21.36% | unchanged |
| Manisha Pankaj Dujodwala | 9.96% | unchanged |
| Akshay Dujodwala | 9.43% | unchanged |
| Alka K Dujodwala | 6.76% | unchanged |
| Investor Education And Protection Fund Authority Ministry Of Corporate Affairs | 6.69% | unchanged |
| Kamalkumar Ramgopal Dujodwala | 5.57% | unchanged |
| Radhakishan S Damani | 2.17% | unchanged |
| Niveshaay Hedgehogs Fund AIF | 2.12% | unchanged |
| Dujodwala Pankaj Ramgopal | 2.01% | unchanged |
| Dujodwala Exports Private Limited | 2.01% | unchanged |
| Pannkaj Dujodwala | 1.53% | unchanged |
| Vasudha Dujodwala | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Mangalam Organics Limited
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