Mangalam Worldwide 42.54% Revenue Growth, Doubled EBITDA Margin – PNN Digital
New Delhi (India), October 18: Mangalam Worldwide Limited (NSE: MWL), is a fully integrated stainless steelmill starting from scrap melting upto manufacturing seamless pipes & tubes based in Gujarat reported unaudited Financial Results for the H1 FY24.
Key Financial Highlights (Consolidated):
• Total Revenues amounted to ₹ 401.56 crore, YoY growth of 42.54%.
• EBITDA of ₹ 17.30 crore, YoY growth of 194.80%
• EBITDA Margin of 4.31%, YoY growth of 223 Bps
• Profit After Tax of ₹ 7.51 crore, YoY growth of 26.62%
• EPS Of ₹ 3.06, YoY growth of 8.51%
Speaking on the occasion Mr. Chandragupt Prakash Mangal, Managing Director of Mangalam Worldwide Limited said – “We are delighted to share the positive developments in Mangalam Worldwide Limited for the first half of the FY24. Our company has made significant strides, driven by a combination of factors, including a strong demand for our steel products and our relentless focus on operational efficiency.
An integral part of our success story is our commitment to an in-house, vertically integrated production process for stainless steel. By making efficient use of materials and minimizing waste through recycling.
Our steel products have continued to enjoy robust demand, reflecting the trust our clients place in the quality we consistently offer. This unwavering client confidence has not only sustained our operations but has also set the stage for a promising second half of the fiscal year.”
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