Mangal Electrical Industries LimitedQ1 FY27 Results & Financial Update
Mangal Electrical Industries Limited: Q1 FY27 standalone results and company financials – revenue ₹125.83 Cr, PAT ₹7.52 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceReported figures and period changes.Changes compare like-for-like reported periods where available.
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Quarterly Results AnalysisExplore Mangal Electrical Industries Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
During the quarter ended June 30, 2026, Mangal Electrical Industries Limited registered strong year-on-year growth in both revenue and profitability, despite a sequential contraction compared to the preceding quarter ended March 31, 2026.
Total income for the quarter stood at 127.6383 crore INR, supported by 125.8273 crore INR in revenue from operations and 1.8110 crore INR in other income.
Profit before exceptional items and tax was reported at 10.0979 crore INR, leading to a net profit after tax of 7.5222 crore INR for the quarter.
During the quarter, the company reviewed its depreciation policy and transitioned its method of providing for depreciation on Property, Plant and Equipment from the Written Down Value (WDV) method to the Straight-Line Method (SLM) with effect from April 1, 2026.
This prospective change in accounting estimate resulted in a lower depreciation expense by 1.30 crore INR for the quarter, thereby increasing the Profit Before Tax by an equivalent 1.30 crore INR.
Segment reporting highlights that the core Manufacturing and Trading division generated 114.0074 crore INR in revenue, while the EPC contract division contributed 1.18199 crore INR.
The company disclosed that out of the 40,000.00 lakh INR raised via its Initial Public Offering in the previous financial year, 31,509.37 lakh INR had been utilized up to June 30, 2026, leaving 8,490.63 lakh INR unutilized and deposited with banks.
01 · Business model
What does Mangal Electrical Industries do?
Mangal Electrical Industries Limited is engaged in the manufacturing and trading of electrical transformers, CRGO (Cold Rolled Grain Oriented) steel, other electrical items, and engineering, procurement, and construction (EPC) services.
The company operates through two primary reportable business segments: Manufacturing and Trading of Electrical Transformers, CRGO, and Related Items; and the Engineering, Procurement and Construction (EPC) business.
The company serves power and electrical infrastructure needs through the supply of specialized transformer components and structured erection or civil work contracts.
02 · Historical context
What shaped the business before this quarter
The company completed its Initial Public Offering of fresh equity shares aggregating to 40,000.00 lakh INR, with its shares subsequently listing on NSE and BSE on August 28, 2025.
Previously, the company calculated depreciation on its Property, Plant and Equipment using the Written Down Value (WDV) method, before shifting to the Straight-Line Method (SLM) from April 1, 2026.
03 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Q1 FY27 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹125.83 Cr | ₹89.66 Cr | ₹179.42 Cr |
| Total income | ₹127.64 Cr | ₹89.91 Cr | ₹182.42 Cr |
| Profit before tax | ₹10.10 Cr | ₹5.07 Cr | ₹17.21 Cr |
| Profit after tax | ₹7.52 Cr | ₹3.73 Cr | ₹12.75 Cr |
| EPS | ₹2.72 | ₹1.82 | ₹4.68 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 6.0% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 8.0% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹1.81 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
The primary revenue driver was the manufacturing and trading of electrical transformers, CRGO, and electrical accessories, contributing 114.0074 crore INR during the quarter.
Engineering, procurement, and construction contracts involving electrical items added 1.18199 crore INR to the top line during the period.
What drove margins
A change in the depreciation method from WDV to SLM lowered quarterly depreciation expenses by 1.30 crore INR, providing a direct positive impact on reported profit before tax.
Cost of materials consumed stood at 94.6084 crore INR, accompanied by 5.5090 crore INR in purchases of stock-in-trade and employee benefit expenses of 7.5594 crore INR.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Segment revenue reached 114.0074 crore INR with segment results before finance cost, depreciation, and other income recorded at 10.2566 crore INR.
The EPC segment recorded revenue of 1.18199 crore INR with corresponding segment results before finance cost, depreciation, and other income at 0.8736 crore INR.
06 · Reported developments
What changed operationally
Net profit after tax increased significantly compared to the corresponding quarter of the previous year, supported by higher operating volumes and revised depreciation accounting.
07 · Pressure points & risks
What is not going smoothly
Revenue and profitability registered a sequential decline compared to the quarter ended March 31, 2026.
08 · Items worth noticing
The line items that can distort a quick read
Adoption of the Straight-Line Method for depreciation instead of WDV reduced quarterly depreciation by 1.30 crore INR and increased pre-tax profit by the same magnitude.
09 · Beyond the numbers
What changed beyond the numbers
Reported update
Auditor and Secretarial Appointments
The board approved the re-appointment of M/s SCLJ & Associates as internal auditors and the appointment of M/s SKMG & Co. as secretarial auditors for the financial year 2026-27.
Reported update
Board and Management Changes
Ms. Neha Rathi was appointed as an Additional Director in the Independent Category for a term of five consecutive years, effective July 29, 2026, subject to shareholder approval.
10 · Key Q&A
The quarter, answered directly
What does Mangal Electrical Industries do?
Mangal Electrical Industries Limited is engaged in the manufacturing and trading of electrical transformers, CRGO (Cold Rolled Grain Oriented) steel, other electrical items, and engineering, procurement, and construction (EPC) services.
What is the clearest takeaway from Q1 FY27?
During the quarter ended June 30, 2026, Mangal Electrical Industries Limited registered strong year-on-year growth in both revenue and profitability, despite a sequential contraction compared to the preceding quarter ended March 31, 2026.
What drove revenue or demand?
The primary revenue driver was the manufacturing and trading of electrical transformers, CRGO, and electrical accessories, contributing 114.0074 crore INR during the quarter.
What mattered most for margins or profitability?
A change in the depreciation method from WDV to SLM lowered quarterly depreciation expenses by 1.30 crore INR, providing a direct positive impact on reported profit before tax.
What changed operationally beyond the headline numbers?
The board approved the re-appointment of M/s SCLJ & Associates as internal auditors and the appointment of M/s SKMG & Co. as secretarial auditors for the financial year 2026-27.
What are the main pressure points disclosed for the quarter?
Revenue and profitability registered a sequential decline compared to the quarter ended March 31, 2026.
11 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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12 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
IPO Proceeds Utilization: Monitor the deployment of the remaining unutilized IPO proceeds of 8,490.63 lakh INR currently lying with banks.
- 02
AGM Approval for Directorship: Track shareholder voting outcomes regarding the appointment of Ms. Neha Rathi as an Independent Director at the upcoming 18th Annual General Meeting.
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Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.