Mangalam Cement Ltd. Share Price

Mangalam Cement Ltd – Company Analysis

Mangalam Cement Ltd is a Birla Group cement manufacturer operating primarily across North and Central India under the Birla Uttam brand. The company manufactures and markets grey cement and benefits from India's long-term infrastructure, housing and construction demand. FY26 showed a substantial improvement in profitability. Revenue from operations increased to approximately ₹1,758 crore from ₹1,681 crore, while EBITDA rose 19.6% to ₹261 crore. Profit before exceptional items and tax increased sharply from ₹70 crore to ₹116 crore, and reported net profit reached ₹129 crore compared with ₹45 crore in FY25. However, the headline profit growth needs some caution because FY26 benefited from a significant tax credit, while an exceptional expense of about ₹21.8 crore was also recorded. Q4 FY26 revenue was around ₹507 crore and reported profit ₹65 crore, but Groww notes that the quarterly profit was boosted by a tax reversal, so underlying operating earnings are more important than the headline PAT number. Looking ahead, Mangalam Cement can benefit from higher cement demand, capacity expansion and improving utilization of its enlarged Aligarh facility. The company's preferred-bidder status for a limestone mining block in Rajasthan could also strengthen long-term raw-material security and potentially improve vertical integration. However, cement remains a cyclical and highly competitive industry, with profitability sensitive to cement prices, fuel costs, freight expenses and capacity utilization. The company also carries meaningful leverage, with debt-to-equity around 0.91. At roughly ₹941 per share and a P/E near 20, the stock is not extremely cheap despite trading below the industry's reported P/E. Overall, Mangalam Cement has improving fundamentals and a credible capacity-led growth story, but investors should focus on normalized earnings and debt reduction rather than the unusually high FY26 profit growth.

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Mangalam Cement Q1: Profit Falls, Margins Under Pressure

📌 Mangalam Cement Q1 FY26 Results Net Profit: ₹181M vs ₹322M (YoY) ⬇️, showing a sharp decline in earnings despite steady sales. Revenue: ₹4.5B vs ₹4.5B (YoY) ➖, reflecting flat topline growth in a competitive market. EBITDA: ₹534M vs ₹752M (YoY) ⬇️, highlighting weaker operating performance. EBITDA Margin: 11.72% vs 16.6% (YoY) ⬇️, underscoring cost pressures. 📊 Fundamentals & Ratios Revenue: ~₹18B annually, steady but limited growth. Net Profit: ~₹1.1B, modest profitability. Debt-to-Equity: ~0.5, moderate leverage. P/E Ratio: ~14–16, fair valuation vs peers. ROE: ~10–11%, average capital efficiency. Dividend Yield: ~1.0%, consistent payouts. 🏦 Projects Capacity expansion initiatives to capture demand. Green cement & sustainability-focused manufacturing. Strengthening distribution network in key regions. Efficiency improvements in plant operations. ⚠️ Risks Rising input costs pressuring margins. Flat revenue growth despite demand. Competitive intensity from larger players. Regulatory compliance challenges. Execution risks in expansion projects.

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Mangalam Cement Limited Submits Q4 FY26 Compliance Certificate Under SEBI Regulations

Mangalam Cement Limited submitted its compliance certificate under SEBI Regulation 74(5) for Q4 FY26 ended 31st March, 2026. The certificate, issued by RTA M/s Mas Services Limited, confirms adherence to dematerialization requirements including timely processing of securities within 15 days, proper cancellation of physical certificates, and updating of depository records and member registers as mandated by SEBI regulations.

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Mangalam Cement Ltd

9-Month Base Breakout – Start of Expansion Phase? Timeframe: Weekly CMP: ₹912 Measured Move Projection: ₹1,100–1,120 (~20–22%) 🔹 Structure Overview – Rectangle Accumulation From March 2025 to Feb 2026, price was locked in a broad consolidation range: Support Zone: ₹700–720 Resistance Zone: ₹880–900 Time spent in base: ~9 months This is classic Wyckoff-style accumulation — prolonged sideways before markup. Now price has given a decisive weekly breakout above ₹900 with strong candle body. Time correction ✔ Volatility compression ✔ Range expansion ✔ This is structural shift. 🔹 Elliott Wave Perspective Probable structure: Wave 1: ₹600 → ₹1,050 Wave 2: Deep correction into ₹700 zone Wave 3: Sideways time correction (complex WXY pattern) Wave 4: Final shakeout near ₹720 Wave 5: Breakout phase starting now If Wave 5 unfolds impulsively: Measured target aligns near ₹1,100–1,150. Cement stocks typically give sharp markup once base resolves. 🔹 Momentum Context Observations: ✔ Wide range bullish candle ✔ Breakout above multi-month resistance ✔ No immediate upper shadow rejection ✔ Volume expansion visible This is not a retail breakout — looks institutional. 🔹 AVWAP / Value Logic Anchored from 2025 swing high (~₹1,050): Price has now reclaimed that anchored resistance Acceptance above ₹900 converts it into support As long as price holds above ₹850–870, structure remains bullish. 🔹 Risk Map Immediate Support: ₹880 Structural Support: ₹820 Failure Level: Weekly close below ₹780

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