Mangal Electrical Industries Reports Q1 FY27 Results: Revenue Up 40.2% YoY to ₹125.8 Crore, PAT More Than Doubles to ₹7.5 Crore

Mangal Electrical Industries Limited has officially announced its unaudited financial results for the first quarter ended June 30, 2026 (Q1 FY27), kicking off the new financial year with strong operational momentum and significant top-line expansion.

Strong Top-Line Growth Driven by Volume Gains

The company recorded Revenue from Operations of ₹125.8 crore in Q1 FY27, marking a robust 40.25% year-on-year (YoY) increase compared to ₹89.7 crore reported in Q1 FY26. Total revenue for the full previous fiscal year (FY26) stood at ₹579.7 crore.

Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the quarter rose to ₹11.1 crore, up 11% from ₹10.0 crore in Q1 FY26. The EBITDA margin stood at 8.8% in Q1 FY27 (compared to 11.1% in Q1 FY26 and 11.8% in FY26), primarily reflecting lower realizations in Cold-Rolled Grain-Oriented (CRGO) steel during the period.

Net Profit More Than Doubles

Despite margin pressure from lower CRGO realizations, Mangal Electrical Industries posted a sharp jump in profitability:

Profit After Tax (PAT): More than doubled to ₹7.5 crore in Q1 FY27, representing a 102.7% YoY growth over ₹3.7 crore in Q1 FY26 (FY26 PAT was ₹43.2 crore).

PAT Margin: Improved to 6.0% in Q1 FY27, compared to 4.2% in the corresponding quarter of the previous year.

Earnings Per Share (EPS): Rose to ₹2.72 per share for the quarter, up from ₹1.82 in Q1 FY26.

Segment-Wise Revenue Performance

The growth across the company's product verticals was led by significant expansion in the Transformers and EPC segments:

Transformer Components: Remained the primary revenue contributor at ₹83.9 crore in Q1 FY27 (up from ₹76.1 crore in Q1 FY26; full-year FY26 revenue was ₹409.4 crore).

Transformers: Recorded stellar growth, generating ₹24.4 crore in Q1 FY27-nearly tripling from ₹8.5 crore in Q1 FY26 (full-year FY26 revenue was ₹89.4 crore).

EPC & Others: Rose sharply to ₹17.5 crore in Q1 FY27 compared to ₹5.0 crore in Q1 FY26 (full-year FY26 revenue was ₹80.9 crore).

Operational Highlights & Business Dynamics

CRGO Volume Growth: Achieved approximately 32% volume growth in CRGO during Q1 FY27 compared to Q1 FY26.

Realization Trend & Pricing Recovery: CRGO realizations declined by approximately 18% YoY in Q1 FY27 compared to Q1 FY26, but showed a sequential recovery with a 5% increase compared to Q4 FY26. Following nearly a year-long downtrend, CRGO prices are stabilizing, showing early signs of recovery for the upcoming quarters.

Capacity & Infrastructure Expansion: The company has acquired industrial land adjacent to its existing manufacturing facility in Reengus, Rajasthan, to support future growth.

Completion Timeline: The ongoing Transformer Capacity Expansion is progressing as planned and is expected to be completed by the end of FY27.

Strategic Focus: The company maintains a core focus on expanding its transformer components business, particularly CRGO laminations, while adding new products to its portfolio.

Commenting on the quarterly performance, Mr. Rahul Mangal, Managing Director, stated: "We have started FY27 on a positive note with strong operational performance, driven by healthy volume growth and improved contribution from our transformer business. While lower CRGO realizations impacted revenue, our focus on execution and operational efficiencies supported profitability. With CRGO prices showing signs of recovery, our transformer capacity expansion progressing as planned, and continued investments in manufacturing infrastructure, we remain confident of delivering sustainable growth in the coming quarters."

Source : Equity Bulls

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MangalElectricalIndustries Q1FY27 Q1FY2027 ResultUpdate