Incorporated in 1988, Mangalam Alloys Limited is a manufacturer of stainless-steel-based products.
The company manufactures SS Ingots, SS Black Bar, SS RCS, SS Bright Round Bar, Bright Hex Bar, Bright Square Bar, Angle, Patti, Forgings, and Fasteners in more than 30 international grades and in the size range from 3 mm to 400 mm.
Mangalam Alloys manufactures stainless steel ingots through three furnaces by melting stainless steel scrap, rolling ingots to stainless steel rounds & flats followed by a heat treatment annealing furnace and bright bar unit. Its manufacturing unit spread across 40,000 sq. meters of land, has an installed capacity of 25,000 TPA (Melting Capacity).
The company recorded Rs. 30,292.25 Lacs, Rs. 30,936.90 Lacs, and Rs. 27,125.88 Lacs in revenue from operation in fiscal 2023, 2022, and 2021 respectively.
| Purpose | Amount (₹ Cr) |
|---|---|
| Working capital requirement; | ₹27 |
| Capital Expenditure for business expansion and research and Development; | ₹5 |
| General Corporate Purposes; and | ₹12 |
| Metric | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Total Assets | 33,202 | 30,067 | 31,211 |
| Revenue | 30,818 | 30,974 | 27,191 |
| PAT | 1,014 | 505 | -654 |
| Net Worth | 7,903 | 6,895 | 6,390 |
| Reserves | 6,047 | 5,039 | 4,534 |
| Total Borrowing | 15,353 | 16,362 | 16,770 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| NII / HNI | — | 3,259,200 (47%) | — |
| Retail (RII) | — | 3,260,800 (48%) | — |
| Market Maker | — | 344,000 (5%) | — |
| Total | — | 6,864,000 (100%) | — |
* Amount calculated at upper price band (₹80) · ** Total includes all investor categories
- 1 Initiation of Refund 02 Oct 2023
- 2 Credit of Shares to Demat 03 Oct 2023
- Retail allocation is strong at 48% of the total offering.
- HNI/NII demand is strong at 47%.
- The IPO P/E of 19x reflects a good valuation relative to typical market ranges.
- Pre-issue EPS of ₹5.
This IPO shows strong fundamentals and healthy investor demand. Research the business model and compare with sector peers before applying.
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