MANORG

Mangalam Organics Limited

Specialty and pine chemicals including camphor, dipentene and synthetic resins

Commodities›Chemicals›Chemicals & Petrochemicals›Commodity Chemicals

mangalamorganics.com

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Key metrics

Price as of 2026-10-16

Stock price

₹438.95

Market cap

376 Cr

Stock P/E

18.1

P/B

1.18

Dividend yield

0.3%

ROE (FY26)

8.1%

ROCE (FY26)

9.1%

Operating margin (FY26)

9.7%

Debt / equity (FY26)

1.12

OCF / EBITDA (FY26)

-63.1%

OCF / EBITDA (3Y)

-26.3%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Mangalam Organics makes camphor, other terpene chemicals and synthetic resins, sells them to industrial customers, and also sells camphor-based consumer products under brands such as CamPure and Mangalam.

Company snapshot

22ndBy market cap

Ranked among 24 companies in Commodity Chemicals.

What we see

Concerns

✗Over the last three years operations used more cash than they brought in, despite an operating profit — the business is not yet turning its profit into cash.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

Metric	Sept 2023	Dec 2023	Mar 2024	Jun 2024	Sept 2024	Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026
Sales	169 Cr	111 Cr	105 Cr	118 Cr	138 Cr	124 Cr	150 Cr	147 Cr	158 Cr	164 Cr	154 Cr	179 Cr
Operating expenses (approx.)	159 Cr	101 Cr	95 Cr	107 Cr	126 Cr	108 Cr	130 Cr	125 Cr	158 Cr	145 Cr	107 Cr	157 Cr
EBITDA	10 Cr	10 Cr	10 Cr	11 Cr	12 Cr	16 Cr	20 Cr	22 Cr	0.27 Cr	19 Cr	47 Cr	22 Cr
OPM %	5.7%	9.0%	9.7%	9.2%	8.9%	12.7%	13.1%	14.7%	0.2%	11.7%	30.4%	12.4%
Other income	0.07 Cr	0.04 Cr	0.25 Cr	0.21 Cr	0.11 Cr	0.0061 Cr	0.0069 Cr	4 Cr	21 Cr	0 Cr	-20 Cr	0.08 Cr
Interest	4 Cr	4 Cr	4 Cr	4 Cr	4 Cr	6 Cr	8 Cr	6 Cr	7 Cr	8 Cr	7 Cr	7 Cr
Depreciation	5 Cr	5 Cr	5 Cr	5 Cr	5 Cr	5 Cr	6 Cr	5 Cr	6 Cr	6 Cr	10 Cr	6 Cr
Profit before tax	0.74 Cr	1 Cr	3 Cr	2 Cr	3 Cr	5 Cr	7 Cr	15 Cr	4 Cr	5 Cr	9 Cr	9 Cr
Tax %	14.6%	12.8%	20.6%	20.1%	30.6%	24.8%	22.1%	16.7%	23.2%	20.9%	33.2%	16.5%
Net profit	0.63 Cr	0.90 Cr	2 Cr	2 Cr	2 Cr	4 Cr	5 Cr	12 Cr	3 Cr	4 Cr	6 Cr	7 Cr
EPS (₹)	₹0.83	₹1.05	₹2.87	₹1.95	₹2.48	₹4.25	₹5.92	₹14.28	₹3.73	₹5.07	₹6.56	₹8.49

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

Metric	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	338 Cr	491 Cr	493 Cr	494 Cr	530 Cr	623 Cr	Sign in free for the trailing twelve months
Operating expenses (approx.)	210 Cr	400 Cr	495 Cr	455 Cr	471 Cr	535 Cr	Sign in free for the trailing twelve months
EBITDA	128 Cr	91 Cr	-3 Cr	39 Cr	59 Cr	88 Cr	Sign in free for the trailing twelve months
OPM %	37.8%	18.5%	-0.6%	7.8%	11.1%	14.1%	Sign in free for the trailing twelve months
Other income	1 Cr	1 Cr	0.34 Cr	0.78 Cr	0.33 Cr	5 Cr	Sign in free for the trailing twelve months
Interest	1 Cr	4 Cr	14 Cr	16 Cr	21 Cr	28 Cr	Sign in free for the trailing twelve months
Depreciation	14 Cr	15 Cr	18 Cr	20 Cr	21 Cr	28 Cr	Sign in free for the trailing twelve months
Profit before tax	114 Cr	73 Cr	-34 Cr	5 Cr	17 Cr	33 Cr	Sign in free for the trailing twelve months
Tax %	25.7%	26.6%	19.4%	20.5%	24.2%	22.7%	Sign in free for the trailing twelve months
Net profit	85 Cr	54 Cr	-27 Cr	4 Cr	13 Cr	26 Cr	Sign in free for the trailing twelve months
EPS (₹)	₹98.82	₹62.68	₹-31.63	₹4.92	₹14.60	₹29.64	Sign in free for the trailing twelve months
Dividend payout %	1.0%	2.4%	—	0.0%	0.0%	0.0%	Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

Metric	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	9 Cr	9 Cr	9 Cr	9 Cr	9 Cr	9 Cr
Reserves	243 Cr	296 Cr	267 Cr	272 Cr	285 Cr	310 Cr
Borrowings	24 Cr	212 Cr	190 Cr	173 Cr	268 Cr	356 Cr
Other liabilities	36 Cr	44 Cr	40 Cr	32 Cr	62 Cr	65 Cr
Total liabilities	311 Cr	560 Cr	506 Cr	485 Cr	624 Cr	740 Cr
Fixed assets (net)	121 Cr	198 Cr	227 Cr	244 Cr	265 Cr	323 Cr
CWIP	0 Cr	8 Cr	1 Cr	5 Cr	26 Cr	0 Cr
Investments	0.0025 Cr	0.0025 Cr	0.30 Cr	0.30 Cr	0.30 Cr	0.30 Cr
Loans & advances	0 Cr	0 Cr	0 Cr	0 Cr	18 Cr	0 Cr
Inventories	106 Cr	244 Cr	189 Cr	136 Cr	213 Cr	300 Cr
Trade receivables	34 Cr	44 Cr	47 Cr	56 Cr	69 Cr	59 Cr
Cash & bank	1 Cr	0.51 Cr	1 Cr	2 Cr	0.47 Cr	1 Cr
Other assets	49 Cr	66 Cr	39 Cr	43 Cr	31 Cr	56 Cr
Total assets	311 Cr	560 Cr	506 Cr	485 Cr	624 Cr	740 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

Metric	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	26 Cr	-83 Cr	64 Cr	58 Cr	-51 Cr	-55 Cr
Cash from investing	-28 Cr	-100 Cr	-41 Cr	-40 Cr	-67 Cr	-60 Cr
Cash from financing	2 Cr	182 Cr	-23 Cr	-17 Cr	117 Cr	116 Cr
Net cash flow	0.40 Cr	-0.53 Cr	0.57 Cr	0.66 Cr	-1 Cr	0.65 Cr
Free cash flow (OCF − Capex)	26 Cr	-183 Cr	23 Cr	18 Cr	-118 Cr	-119 Cr

Ratios

Metric	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROCE %	41.8%	15.0%	-4.3%	4.6%	6.8%	9.1%
ROE %	33.7%	17.7%	-9.9%	1.5%	4.3%	8.1%
Debtor days	37	33	35	41	48	34
Inventory days	263	312	168	191	248	299
Days payable	60	42	29	33	60	46
Cash conversion cycle	240	303	174	199	236	288
OCF / EBITDA %	20.6%	-91.3%	—	148.9%	-86.7%	-63.1%
OCF / EBITDA % (3 years)	—	—	3.3%	30.3%	74.8%	-26.3%
Debt / equity	0.10	0.70	0.69	0.62	0.91	1.12
Current ratio	3.55	1.76	1.42	1.24	1.09	1.14
Net debt / EBITDA	0.18	2.32	—	4.43	4.57	4.04