Mangalam Worldwide Limited (MWL), a fully integrated stainless steel manufacturer, reported a 30.90% year-on-year increase in consolidated profit after tax (PAT) to ₹13.82 crore for the second quarter of FY27, compared with ₹10.55 crore in the corresponding quarter of the previous financial year. Total income for the quarter ended September 30, 2026, rose 13.4% to ₹361 crore from ₹319 crore in Q2 FY26. Adjusted EBITDA increased 81% to ₹40.17 crore from ₹22 crore, while the adjusted EBITDA margin improved to 11.13% from 6.98%.
Export revenue recorded strong growth during the quarter, rising 355% year-on-year to ₹63.86 crore from ₹14.04 crore in Q2 FY26. The company, which serves customers in more than 30 countries, continues to focus on expanding its international customer base and increasing sales across key markets.
For the first half of FY27, Mangalam Worldwide reported total income of ₹678 crore, up 13.4% from ₹598 crore in H1 FY26. PAT increased 25% to ₹25.84 crore from ₹20.68 crore in the corresponding period last year. Adjusted EBITDA for H1 FY27 stood at ₹70 crore, compared with ₹42 crore in H1 FY26. The adjusted EBITDA margin improved to 10.31% from 7.02%. Export revenue rose 261% to ₹93 crore from ₹26 crore in the year-ago period.
During October 2026, the company incorporated MWL Europe BV as a wholly owned subsidiary in Belgium. The move is intended to strengthen its presence in Europe, improve customer outreach, support operational efficiency and help it explore business opportunities in the European market.
Commenting on the results, Chandragupt Prakash Mangal, Managing Director of Mangalam Worldwide Limited, said the company’s quarterly performance reflected its focus on operational efficiency, business growth and strengthening its position in the stainless steel industry. He added that the company would continue to expand its value-added product portfolio, improve profitability and pursue opportunities in domestic and international markets.
On the Belgium subsidiary, Mangal said the incorporation marked a step in the company’s international expansion plans. He added that the focus would remain on developing long-term customer relationships, increasing its reach in key markets and creating sustainable business value.
Established in 1995, Mangalam Worldwide Limited manufactures stainless steel products across an integrated production chain, from scrap melting to seamless pipes and tubes. Its product range includes stainless steel billets, ingots, flat bars, round bars, bright bars, seamless pipes and tubes, heat exchanger tubes and U-tubes.
The company’s manufacturing infrastructure comprises four plants in Gujarat, located at Halol, Changodar and Kapadvanj. The facilities cover more than 125,000 square metres and have a combined installed capacity of over 190,000 metric tonnes per annum. Its operations include steel melting shops, rolling mills, peeling units and finishing facilities. Mangalam Worldwide also has 11.6 MW of rooftop and ground-mounted solar installations and a workforce of approximately 1,000 employees.
