Mangalam Seeds Ltd
539275Mangalam Seeds Ltd's earnings have outrun its stock. EPS grew −21.9% in a year against a −29.6% price move.
The sharpest disagreement: profits are rising, but only 12% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.
The price is in a downtrend (78 weeks in) while the P/E sits at the 5th percentile of its own 10-year range. Underneath, the last four quarters read improving — profit −5.2% year on year, and 12% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Mangalam Seeds Ltd trades at ₹115, in a downtrend and 78 weeks into that stage. That is −26.2% against its own 200-day average. It sits at 0% of a 52-week range of ₹115 to ₹180. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (10 weeks and counting).
Today the stock is in a downtrend — week 78 of stage 4, confirmed. At ₹115 it trades −26.2% versus its 200-day average and sits at 0% of its 52-week range (₹115–₹180).
Against the market, two honest reads. Cumulative: over the last 10.0 years the stock moved +231% while the NIFTY 500 moved +236% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (10 weeks and counting; last ahead the week of 2026-01-16) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Mangalam Seeds Ltd trades at 12.2× P/E, near the bottom of its own range — cheaper only 5% of the time. Its long-run median P/E is 18.9×, measured across 10.0 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 12.2× is near the bottom of its own range — cheaper only 5% of the time, against a long-run median of 18.9× measured over 10.0 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved −21.9% against a −29.6% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +11.2%/yr price move, ~+15.1%/yr came from earnings growth and ~−3.9 pp from the multiple (compressing); over 10y, of the +13.3%/yr price move, ~+4.0%/yr came from earnings growth and ~+9.3 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.
What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.
At its price on 13 June 2026, Mangalam Seeds Ltd was priced for profit growth of about 4.3% a year. Profit itself has compounded 25.9% a year over the past 10 years. The market pays that at 12.2× P/E, the 5th percentile of its own 10-year range.
What the two numbers say together. The multiple is low against its own past, and the growth the price is paying for is below what this company has actually delivered. Both readings sit on the same earnings, so they are one reading rather than two.
How to hold this number: it is a reading of one day's price, taken on 13 June 2026, not a running figure. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements. Every other number on this page is read off the live quote.
Stage: Turning around Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Mangalam Seeds Ltd reads as turning around on its fundamental arc. Turning around — profit growth swung from −43.8% at the trough to −5.2% off a 4-quarter-old trough (single-quarter readings), ROCE holding at 12.0%. The read is built from 10 quarters across 3 curves, on partial evidence.
Why it matters: growth inflections are where re-ratings start — the curves say a turn is forming, so the question becomes whether the next quarters confirm it.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | −8.0% | +35.9% | +20.8% | +21.2% |
| Profit | −23.1% | +26.0% | +20.1% | +25.9% |
| EPS | −21.9% | +25.8% | +22.3% | +4.5% |
| Share price | −29.6% | −12.2% | +11.2% | +13.3% |
4-Factor Sector Score
49.0/100 — rank 1 of 1 in Agriculture - Seeds · 73% evidence confidence
Mangalam Seeds Ltd scores 49.0 out of 100 against the 1 companies it is compared with in Agriculture - Seeds, ranking 1. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 16.9 + 11.8 + 12.8 + 7.5 = 49. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Mangalam Seeds Ltd reported ₹28.9 Cr of revenue in the Dec 25 quarter, +5.5% year on year. Over 10 years it has compounded at 21.2% a year. The last full year, FY25, came in at ₹103 Cr. The last four reported quarters add to ₹118 Cr.
FY25 revenue came in at ₹103 Cr (−8.0% on the year), capping 10 years at 21.2% compound. The latest quarter (Dec 25) printed ₹28.9 Cr, +5.5% year on year.
Pace check: the last four quarters averaged +10.7% growth against the decade's 21.2% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +14.6% over the last 4 quarters against +5.1%/yr over the last 8 — accelerating; TTM profit +15.4% vs −17.7%/yr — accelerating.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Mangalam Seeds Ltd's operating margin is 11.2% in the Dec 25 quarter, +1.0 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 6.0% to 25.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 11.2%, +1.0 pp against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 6.0%–25.0%.
Why the margin moved: operating margin went +1.0 pp year on year while gross margin went +3.6 pp — the gain came mostly from the gross line: input costs and pricing.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Mangalam Seeds Ltd earned ₹1.3 Cr of net profit in the Dec 25 quarter, −5.2% year on year. Full-year FY25 profit was ₹10.0 Cr. The 10-year compound rate is 25.9%. That is 4.4% of the quarter's revenue. The same quarter a year earlier earned ₹1.4 Cr.
Dec 25 profit was ₹1.3 Cr, −5.2% year on year. On the full year, FY25 printed ₹10.0 Cr (−23.1%), and the 10-year compound rate is 25.9%.
🚨 Why profit moved: revenue contributed +5.5% and the margin +1.0 pp — the quarter was revenue-led, with the margin roughly flat.
Pace comparison, last four quarters: profit +15.6% vs revenue +10.7%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 12% of Mangalam Seeds Ltd's reported profit arrived as operating cash — a gap worth watching. In FY25 that was ₹0.0 Cr of operating cash against ₹10.0 Cr of profit. After ₹10.0 Cr of capital spending, ₹−10.0 Cr was left as free cash.
FY25: operating cash of ₹0.0 Cr against reported profit of ₹10.0 Cr, leaving free cash of ₹−10.0 Cr after ₹10.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 12% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at 12%: the cash cycle tightened 22 days between FY20 and FY25 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: the bigger cash user is investment — capital spending ran 8.6× depreciation over three years, so the next section's job is to check what that build-out is buying.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Mangalam Seeds Ltd's cash conversion cycle runs 357 days in FY25, down from 379 days in FY20. Capital spending ran ₹43.0 Cr over the last 3 years. At FY25 sales of ₹103 Cr each day of that cycle holds about ₹0.3 Cr, so roughly ₹101 Cr sits inside the business at any moment.
FY25: debtors at 80 days, inventory at 291 days — roughly 9.6 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 357 days, tighter than FY20's 379.
The full loop: cash goes out to suppliers and production on day 0; stock waits 291 days to sell; customers pay about 80 days after that; and suppliers themselves are paid at 14 days — netting out to the 357-day cycle.
In money terms: at FY25 sales of ₹103 Cr, each day of the cycle holds about ₹0.3 Cr — so the 357-day loop keeps roughly ₹101 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹43.0 Cr over the last 3 fiscal years against ₹5.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹18.0 Cr (FY25) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Mangalam Seeds Ltd earns a ROCE of 12% in FY25. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 9.7% net margin on 0.64× asset turns.
FY25 ROCE is 12%.
Why the return is what it is — the wiring (FY25): 9.7% net margin × 0.64× asset turns × 2.01× balance-sheet leverage ≈ 12.5% on equity. Margin does its share; leverage is a meaningful part of the equation.
Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.
Mangalam Seeds Ltd carries ₹65.0 Cr of borrowings against ₹80.0 Cr of equity in FY25, a debt-to-equity of 0.81. Operating profit covers the interest bill 5×. Over 5 years borrowings went from ₹9.0 Cr to ₹65.0 Cr. Capital spending ran ₹43.0 Cr across the last 3 of those years.
FY25: borrowings of ₹65.0 Cr against equity of ₹80.0 Cr — a debt-to-equity of 0.81. Operating profit covers the interest bill 5×. Over 5 years borrowings went from ₹9.0 Cr to ₹65.0 Cr while capital spending ran ₹43.0 Cr in just the last 3 — part of the build-out is riding on borrowed money.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
No holder of Mangalam Seeds Ltd moved a full percentage point over the last two years — the register is quiet. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: −0.5 points over 8 quarters to 74.4%.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Mangalam Seeds Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Mangalam Seeds Ltdthis page539275 | 49.0/100Mixed-negative evidence73% evidence | ASLEEP | 16.9/35 Revenue 14.6% · PAT 15.4% · OPM change 1 pp 95% evidence | 11.8/25 ROCE 12.2% · OPM 11.2% 76% evidence | 12.8/20 P/E 12.2× · PEG — 35% evidence | 7.5/20 RS sector 0% · RS bench -20.8% · 1Y -34.6%0 of 12 weeks ahead 70% evidence |
| Exact sum: 16.9 + 11.8 + 12.8 + 7.5 = 49 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Mangalam Seeds Ltd's share price today?
Mangalam Seeds Ltd trades at ₹115, −29.6% over the past year. The company is valued at ₹126 Cr. The stock sits at the very bottom of its 52-week range (₹115–₹180), −26.2% versus its 200-day average. On the tape, the price is in a downtrend, 78 weeks in. — as of 14 August 2026.
What were Mangalam Seeds Ltd's latest quarterly results?
Mangalam Seeds Ltd reported revenue of ₹28.9 Cr and net profit of ₹1.3 Cr for the Dec 25 quarter. Revenue rose 5.5% and profit fell 5.2% year on year. Earnings per share were ₹1.17. The operating margin was 11.2%, 1.0 pp higher than a year earlier. — as of 14 August 2026.
What is Mangalam Seeds Ltd's revenue?
Mangalam Seeds Ltd reported revenue of ₹28.9 Cr in the Dec 25 quarter, +5.5% year on year. For the full FY25 fiscal year, revenue was ₹103 Cr (−8.0%). Over the last 10 years revenue compounded at 21.2% a year. — as of 14 August 2026.
What is Mangalam Seeds Ltd's profit?
Mangalam Seeds Ltd earned ₹1.3 Cr of net profit in the Dec 25 quarter, −5.2% year on year. Full-year FY25 profit was ₹10.0 Cr. The operating margin ran 11.2% in the latest quarter. — as of 14 August 2026.
What is Mangalam Seeds Ltd's market cap?
Mangalam Seeds Ltd's market capitalisation is ₹126 Cr at a share price of ₹115. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 14 August 2026.
What is Mangalam Seeds Ltd's P/E ratio?
Mangalam Seeds Ltd trades at a P/E of 12.2×, at the 5th percentile of its own 10-year range, against a long-run median of 18.9×. This is a comparison with the stock's own history, not a value call — as of 14 August 2026.
Does Mangalam Seeds Ltd pay a dividend?
Not in its latest year — Mangalam Seeds Ltd's dividend payout was 0% of profit in FY25. It did record a payout in 2 of its last 12 reported fiscal years, so there is a history but no current dividend. This page holds the payout ratio, not a per-share amount. — as of 14 August 2026.
Is Mangalam Seeds Ltd overvalued?
On its own history, Mangalam Seeds Ltd looks cheap: its P/E of 12.2× has been cheaper only 5% of the time in 10 years (long-run median 18.9×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 14 August 2026.
Is Mangalam Seeds Ltd growing?
Yes — Mangalam Seeds Ltd is growing: latest-quarter revenue +5.5% year on year, profit −5.2%, and the margin +1.0 pp at 11.2%. The 10-year compound rates are 21.2% (revenue) and 25.9% (profit). The earnings engine currently reads: improving — as of 14 August 2026.
How is Mangalam Seeds Ltd performing?
Mangalam Seeds Ltd is in a downtrend, 78 weeks in. Its latest quarter's revenue rose 5.5% and profit fell 5.2% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 10 weeks. This describes what the data did, not a rating. — as of 14 August 2026.
What stage is Mangalam Seeds Ltd in?
Turning around — profit growth swung from −43.8% at the trough to −5.2% off a 4-quarter-old trough (single-quarter readings), ROCE holding at 12.0%. The read comes from the last 12 quarters of growth (revenue growth +5.5% latest, profit growth −5.2% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 14 August 2026.
Is Mangalam Seeds Ltd in an uptrend?
No — the price is in a downtrend (week 78 of stage 4), trading −26.2% versus its 200-day average and at the very bottom of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 14 August 2026.
Is Mangalam Seeds Ltd beating the market?
Not lately — on a trailing-13-week view Mangalam Seeds Ltd is currently behind the NIFTY 500 (10 weeks and counting; last ahead the week of 2026-01-16), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.0 years the stock moved +231% against the NIFTY 500's +236% — behind the index over the full window. — as of 14 August 2026.
Will Mangalam Seeds Ltd's share price go up?
This page publishes no price forecast for Mangalam Seeds Ltd. What it measures instead: the share price is ₹115, the price is in a downtrend 78 weeks in. Its P/E of 12.2× sits at the 5th percentile of its own 10-year range. — as of 14 August 2026.
Who owns Mangalam Seeds Ltd?
Promoters hold 74.4% of Mangalam Seeds Ltd, foreign institutions null%, domestic institutions null% and the public 25.6% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 14 August 2026.
Does Mangalam Seeds Ltd have too much debt?
It is moderate — Mangalam Seeds Ltd's debt-to-equity is 0.81, and operating profit covers the interest bill 5×. FY25 borrowings were ₹65.0 Cr against equity of ₹80.0 Cr. Read the returns on this page with that leverage in mind — as of 14 August 2026.
What is Mangalam Seeds Ltd's capex?
Mangalam Seeds Ltd spent ₹43.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY25 alone that was ₹10.0 Cr, with ₹18.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 14 August 2026.
What is Mangalam Seeds Ltd's cash flow?
Mangalam Seeds Ltd generated ₹0.0 Cr of operating cash flow in FY25 and ₹−10.0 Cr of free cash flow after ₹10.0 Cr of capital spending. Reported profit that year was ₹10.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 14 August 2026.
Is Mangalam Seeds Ltd's profit real cash?
Not fully — over the last 3 fiscal years, 12% of Mangalam Seeds Ltd's reported profit arrived as operating cash. In FY25, operating cash was ₹0.0 Cr against reported profit of ₹10.0 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 14 August 2026.
Where is Mangalam Seeds Ltd in its business cycle?
Mangalam Seeds Ltd's FY25 operating margin was 17.0%, against a 12-year band of 6.0%–25.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 11.2%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 14 August 2026.
What growth does Mangalam Seeds Ltd's price assume?
At its price on 13 June 2026, Mangalam Seeds Ltd was priced for profit growth of about 4.3% a year. Profit itself has compounded 25.9% a year over the past 10 years. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 14 August 2026.
What could break the Mangalam Seeds Ltd story?
The sharpest disagreement: profits are rising, but only 12% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 14 August 2026.
Is Mangalam Seeds Ltd a stock worth studying right now?
This is not investment advice. The machine read: Mangalam Seeds Ltd's earnings have outrun its stock. EPS grew −21.9% in a year against a −29.6% price move. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 14 August 2026.