Mangalam Worldwide Ltd (MWL) — share price & stock analysis

Market cap

₹1,103 Cr

P/E

22×

ROE

18.0%

vs own history (since 2023)

89th pctile

Book value / share

₹10.1

EPS (TTM)

₹1.69

10-yr median P/E

18.7×

Revenue (FY26)

₹1,207 Cr

Profit after tax (FY26)

₹50 Cr

Weinstein stage

Stage 2 (131 weeks)

Data as of

17 July 2026

Strong on the data — worth the deeper look if the story keeps its promises

The numbers lean positive, and the price already assumes the good news continues.

Best thing in the data: margins rising (4.6% → 10.6%).operating_profit

Biggest worry: sales falling (₹324 Cr → ₹265 Cr).revenue

Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.

Stage 2: the trend is up, and has been for 131 weeks

Price trends have a life cycle: they base (1), advance (2), top out (3) and decline (4). This chart is in Stage 2: advancing — 131 weeks so far, confirmed.stage

The price sits above its rising 200-day average (₹30 today) — though the outperformance gap has been narrowing lately, so the trend is intact but losing some of its edge. Trends like this persist more often than they reverse, which is why the system rides them instead of guessing the top.dma_200

Beating NIFTY 500 for 60 weeks — relative strength is the market’s live opinion, and right now it is on this stock’s side, though the outperformance gap has been narrowing.rs_mansfield

What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200

2 of the 5 things we track are currently moving the right way — genuinely mixed: some things working, some not.

Where the levels actually stand: ROCE 18% — decent; debt moderate (0.79× equity); margins at an all-time high. Momentum says which way things are moving; these say where they are.

Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double.

Most of this rally is re-rating, not earnings

Since Oct 2023, the stock is up 220% while earnings per share grew 168%. The difference is re-rating — investors paying more for the same rupee of profit.pricettm_eps

That works until it doesn’t: from here, earnings have to do the lifting, because the multiple has already done its part.

Today’s P/E of 22× means the market is paying up — this is the expensive end of its own history since 2023 (89th percentile).pe_ratio

Read that percentile with the cycle in view: it is measured against its own trading range since 2023, and earnings currently sit at 100% of their own historical range — near the top of the earnings cycle.net_profit

Price is the weekly close (₹). EPS is trailing-twelve-month profit per share, anchored on Screener's own snapshots (the window starts at the first stable snapshot — earlier IPO-era share-count revisions are excluded, since they are not earnings events); between snapshots it is filled from price ÷ P/E (an exact identity), and any fill straying more than 18% from the neighbouring snapshots is dropped rather than shown. The lower panel is the P/E — what the market pays per rupee of profit; the dotted line is its long-run median (18.7×).

Up in 7 of 8 years — the long arc of a compounder

Over 8 years, sales went from ₹31.0 Cr to ₹1,207 Cr (about 58% a year), and profit from ₹0.0 Cr to ₹50.0 Cr.revenuenet_profit

Margins widened 7.5 points along the way — growth with improving economics.operating_profit

Margins are widening — 5% → 10% in a year

Of every ₹100 of sales, the company keeps ₹10.5 as operating profit (a year ago it kept ₹4.7).opm_pct

Zoom out and this is the page's quiet hero: annual operating margin bottomed at 2.0% in FY21 and has been rebuilt to 7.5% — that recovery, not sales alone, is what powers the profit growth elsewhere on this page.operating_profit

The gross margin moved the same way (19% → 27%), so this is about input costs and pricing power — the raw-material equation improved.gpm_pctopm_pct

Profit exploded 88% — mostly from keeping more of each sale

Mar 26 profit after tax was ₹15.0 Cr, up 88% year on year.net_profit

Building hard — new capacity is under construction

The productive asset base has gone from ₹1.0 Cr (FY18) to ₹95.0 Cr, with another ₹16.0 Cr of capacity under construction right now.fixed_assetscwip

Work-in-progress is 17% of the existing asset base — that is a serious bet on future demand. Capacity like this shows up in sales with a lag; it is tomorrow’s growth being paid for today.cwip

The build is bigger than the cash engine: investing outflows (₹52.0 Cr) exceeded operating cash (₹−73.0 Cr) over the last 3 years — the difference comes from debt or shareholders.investing_cash_flowoperating_cash_flow

Debt is present but comfortable

For every ₹100 shareholders have put in (and left in), the company has borrowed ₹79 — total borrowings have grown from ₹1.0 Cr to ₹236 Cr over the window.borrowings

Every ₹100 kept in the business earns ₹18 — decent, not special

Return on capital employed is 18.0% (a year ago: 14.0%). This is the single best test of business quality: what the company earns on the money it keeps.roce_pct

Rising returns on capital while growing is the rarest combination in investing — it means the new projects earn more than the old ones.roce_pct

A Dec 24 event lifted promoter holding — not steady buying

Promoters hold 66.5% — up 2.5 points over 12 quarters (from 64.0%). Foreign funds own 0.3%, domestic funds 0.0%.promoters_pctfiis_pctdiis_pct

The promoter move came in a single step (Dec 24) — promoters rarely buy on-market, so a jump like this is almost always an allotment, infusion or restructuring: a capital event, not a slow accumulation of conviction. Worth knowing which, before reading it as a signal.promoters_pct

Straight answers from the data