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Last Updated: April 2, 2026, 3:18 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: | NSE:

Mangalam Cement Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹403.37Overvalued by 49.45%vs CMP ₹798.00

P/E (27.0) × ROE (5.7%) × BV (₹327.00) × DY (0.19%)

₹380.13Overvalued by 52.36%vs CMP ₹798.00
MoS: -109.9% (Negative)Confidence: 63/100 (Moderate)Models: All 7: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹406.3528%Over (-49.1%)
Graham NumberEarnings₹464.4620%Over (-41.8%)
DCFCash Flow₹66.8717%Over (-91.6%)
Net Asset ValueAssets₹327.569%Over (-59%)
EV/EBITDAEnterprise₹605.6811%Over (-24.1%)
Earnings YieldEarnings₹293.209%Over (-63.3%)
Revenue MultipleRevenue₹611.137%Over (-23.4%)
Consensus (7 models)₹380.13100%Overvalued
Key Drivers: Wide model spread (₹67–₹611) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 0.7%

*Investments are subject to market risks

Investment Snapshot

56
Mangalam Cement Ltd scores 56/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health44/100 · Moderate
ROCE 9.9% AverageROE 5.7% WeakD/E 37.63 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money65/100 · Strong
FII holding stable No changeDII holding up 1.80% MF buyingPromoter holding at 40.0% Stable
Earnings Quality60/100 · Moderate
OPM stable around 11% SteadyWorking capital: -91 days (improving) Efficient
Quarterly Momentum80/100 · Strong
Revenue (4Q): +10% YoY GrowingProfit (4Q): +78% YoY Strong
Industry Rank35/100 · Weak
P/E 27.0 vs industry 19.4 In-lineROCE 9.9% vs industry 14.0% AverageROE 5.7% vs industry 16.7% Below peers3Y sales CAGR: 2% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:18 am

Market Cap 2,195 Cr.
Current Price 798
Intrinsic Value₹380.13
High / Low 940/640
Stock P/E27.0
Book Value 327
Dividend Yield0.19 %
ROCE9.87 %
ROE5.70 %
Face Value 10.0
PEG Ratio36.53

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Mangalam Cement Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Mangalam Cement Ltd 2,195 Cr. 798 940/64027.0 3270.19 %9.87 %5.70 % 10.0
Marathon Nextgen Realty Ltd 2,668 Cr. 396 775/36812.5 3260.25 %12.0 %13.2 % 5.00
Ashoka Buildcon Ltd 3,109 Cr. 111 231/1012.97 1500.00 %39.7 %54.8 % 5.00
Ahluwalia Contracts (India) Ltd 4,550 Cr. 679 1,129/64517.0 2870.09 %18.5 %11.9 % 2.00
IRB Infrastructure Developers Ltd 26,101 Cr. 21.6 27.2/18.532.7 16.90.69 %7.82 %5.91 % 1.00
Industry Average89,147.00 Cr628.2719.35214.440.24%13.97%16.65%5.56

All Competitor Stocks of Mangalam Cement Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 429459421428439437381359438503452395421
Expenses 408414369380382392351329395449377352376
Operating Profit 21455148574630304354754345
OPM % 5%10%12%11%13%10%8%8%10%11%17%11%11%
Other Income 15668619321051311106
Interest 15151618171716171619171615
Depreciation 18171818191919191921202020
Profit before tax 320232027292641327491616
Tax % 83%22%36%41%41%41%35%10%40%37%34%-22%27%
Net Profit 11615121617173817322011
EPS in Rs 0.195.685.344.295.806.286.201.192.846.1511.737.314.13

Last Updated: March 3, 2026, 10:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 11:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 6979228421,0451,0801,2001,2281,3051,5661,8021,7251,6811,771
Expenses 6428317979279971,1421,0291,0601,3481,6541,5231,5201,554
Operating Profit 5690451188257200245218148203161217
OPM % 8%10%5%11%8%5%16%19%14%8%12%10%12%
Other Income 50621282430252716385740
Interest 9384647475163696466686967
Depreciation 28343740444649636269747982
Profit before tax 2419-315019-16117138119289970108
Tax % -24%6%-31%27%40%-39%35%32%35%38%40%36%
Net Profit 3018-213711-1076937817604581
EPS in Rs 11.096.71-8.0413.724.26-3.6528.4335.0228.266.2321.7216.3929.32
Dividend Payout % 27%30%-6%5%12%-14%4%4%5%24%7%9%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-40.00%-216.67%276.19%-70.27%-190.91%860.00%22.37%-16.13%-78.21%252.94%-25.00%
Change in YoY Net Profit Growth (%)0.00%-176.67%492.86%-346.46%-120.64%1050.91%-837.63%-38.50%-62.08%331.15%-277.94%

Mangalam Cement Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

No data available for the compounded sales growth chart.

Balance Sheet

Last Updated: December 10, 2025, 3:03 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 27272727272727282828282828
Reserves 480491447479488477549640715729784824873
Borrowings 368382428391372518585632628621607627734
Other Liabilities 267312291316333393432558558612649687716
Total Liabilities 1,1421,2121,1921,2131,2201,4141,5931,8581,9281,9902,0682,1662,350
Fixed Assets 5157577448148318219159801,1411,1701,1651,1851,155
CWIP 255317149573211121017435110
Investments 363620283633657110478849176
Other Assets 3373883583233484875916946737257768841,010
Total Assets 1,1421,2121,1921,2131,2201,4141,5931,8581,9281,9902,0682,1662,350

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 6348751638684216234189139182188
Cash from Investing Activity + -226-50-62-91-17-176-156-172-134-64-112-132
Cash from Financing Activity + 116-18-13-77-67833-41-73-89-86-63
Net Cash Flow -46-20-0-52-96320-18-14-15-7
Free Cash Flow -167-4107668-175015665148473
CFO/OP 131%49%167%140%111%147%114%102%98%103%94%125%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-312.00-292.00-383.00-273.00-290.00-461.00-385.00-387.00-410.00-473.00-404.00-466.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 1211151212118119879
Inventory Days 266305202216210200421366270320492326
Days Payable 158200194269270286463316235310377290
Cash Conversion Cycle 12011623-40-47-75-3460431712345
Working Capital Days 4921-21-42-43-25-37-56-54-67-77-91
ROCE %4%7%2%11%7%3%17%17%14%8%12%10%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 31.95%34.35%36.32%36.63%36.94%36.94%36.94%37.82%39.53%39.53%40.01%40.01%
FIIs 6.41%6.75%6.82%6.20%5.70%6.32%6.17%6.07%5.81%5.87%6.07%5.80%
DIIs 2.60%2.62%2.62%3.40%4.36%4.75%4.78%4.79%4.98%7.09%6.94%6.78%
Public 59.04%56.28%54.26%53.76%53.00%51.97%52.10%51.33%49.69%47.52%46.97%47.43%
No. of Shareholders 36,20135,83134,98832,21034,06532,43133,02733,42731,75031,51631,94931,419

Shareholding Pattern Chart

No. of Shareholders

Mangalam Cement Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 4.661.690.88-6.04-0.96
Diluted EPS (Rs.) 4.661.690.88-6.04-0.96
Cash EPS (Rs.) 3.082.421.91-4.47-7.32
Book Value[Excl.RevalReserv]/Share (Rs.) 6.16-3.03-4.72-5.590.44
Book Value[Incl.RevalReserv]/Share (Rs.) 6.16-3.03-4.72-5.590.44
Revenue From Operations / Share (Rs.) 18.6120.9317.487.897.39
PBDIT / Share (Rs.) 4.154.784.27-2.79-5.61
PBIT / Share (Rs.) 3.524.043.23-4.36-7.93
PBT / Share (Rs.) 2.362.301.10-6.17-9.89
Net Profit / Share (Rs.) 2.441.690.87-6.04-9.64
PBDIT Margin (%) 22.3022.8224.43-35.42-75.92
PBIT Margin (%) 18.9219.3118.50-55.32-107.34
PBT Margin (%) 12.6711.006.31-78.27-133.83
Net Profit Margin (%) 13.138.075.00-76.53-130.47
Return on Networth / Equity (%) 39.71-55.83-18.540.00-2184.14
Return on Capital Employeed (%) 33.47112.23-1028.97-249.43-90.18
Return On Assets (%) 14.8710.316.23-40.36-46.45
Long Term Debt / Equity (X) 0.70-2.19-0.93-1.3118.92
Total Debt / Equity (X) 0.90-4.53-1.40-3.1337.63
Asset Turnover Ratio (%) 1.491.381.210.440.28
Current Ratio (X) 1.880.740.510.560.93
Quick Ratio (X) 1.880.740.510.560.65
Interest Coverage Ratio (X) 3.572.752.00-1.54-2.87
Interest Coverage Ratio (Post Tax) (X) 3.101.971.41-2.34-3.92
Enterprise Value (Cr.) 14.1324.6612.4816.4914.57
EV / Net Operating Revenue (X) 0.571.721.043.062.88
EV / EBITDA (X) 2.597.554.28-8.63-3.80
MarketCap / Net Operating Revenue (X) 0.561.070.660.840.69
Price / BV (X) 1.71-7.43-2.48-1.2011.56
Price / Net Operating Revenue (X) 0.561.070.660.840.69
EarningsYield 0.230.070.07-0.90-1.89

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Manav Infra Projects Ltd. is a Public Limited Listed company incorporated on 08/06/2009 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L45200MH2009PLC193084 and registration number is 193084. Currently company belongs to the Industry of Construction, Contracting & Engineering. Company's Total Operating Revenue is Rs. 24.50 Cr. and Equity Capital is Rs. 13.16 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Construction, Contracting & Engineering102, Gundecha Industrial � Complex Akurli Road, Mumbai Maharashtra 400101Contact not found
Management
NamePosition Held
Mr. Mahendra RajuChairman & Managing Director
Mr. Dinesh YadavExecutive Director
Ms. Mahalakshmi RajuNon Executive Director
Mr. Mohan PaiIndependent Director
Mr. Atul PurohitIndependent Director
Mr. Vipul Vishnu AwaghadeAddnl. & Ind.Director

FAQ

What is the intrinsic value of Mangalam Cement Ltd and is it undervalued?

As of 19 April 2026, Mangalam Cement Ltd's intrinsic value is ₹380.13, which is 52.36% lower than the current market price of ₹798.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (5.70 %), book value (₹327), dividend yield (0.19 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Mangalam Cement Ltd?

Mangalam Cement Ltd is trading at ₹798.00 as of 19 April 2026, with a FY2026-2027 high of ₹940 and low of ₹640. The stock is currently in the middle of its 52-week range. Market cap stands at ₹2,195 Cr..

How does Mangalam Cement Ltd's P/E ratio compare to its industry?

Mangalam Cement Ltd has a P/E ratio of 27.0, which is above the industry average of 19.35. The premium over industry average may reflect growth expectations or speculative interest.

Is Mangalam Cement Ltd financially healthy?

Key indicators for Mangalam Cement Ltd: ROCE of 9.87 % is on the lower side compared to the industry average of 13.97%; ROE of 5.70 % is below ideal levels (industry average: 16.65%). Dividend yield is 0.19 %.

Is Mangalam Cement Ltd profitable and how is the profit trend?

Mangalam Cement Ltd reported a net profit of ₹45 Cr in Mar 2025 on revenue of ₹1,681 Cr. Compared to ₹78 Cr in Mar 2022, the net profit shows a declining trend.

Does Mangalam Cement Ltd pay dividends?

Mangalam Cement Ltd has a dividend yield of 0.19 % at the current price of ₹798.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Mangalam Cement Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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