MANGALAM ORGANICS LIMITED (MANORG): Financials & Fundamentals History

Share Price

₹443.60

P/E

18.3x

ROCE

10.0%

Market Cap

₹380 cr

Revenue (TTM)

₹655 cr

P/S

0.6x

P/B

1.2x

ROE

6.5%

Operating Margin

12.4%

Debt / Equity

1.1x

Promoter Holding

58.6%

12M Momentum

-13.6%

P/E vs its own history56th percentilesince Nov '21

P/E vs Process Industries1.0xthe sector median

52-week range

₹356.25₹635.00

31% of the way from its 52-week low to its high

Price risk

1Y volatility

51.5%

Beta vs sector

1-year daily

0.74

Balance sheet & cash

Interest cover

operating profit ÷ interest

1.9x

Cash from profit, 3Y

operating cash flow ÷ net profit

1.53x

Share count, 1Y

unchanged

Was the rally earned?

-14%share price, 1 yearEarnings-driven

Mostly earnings.

Per-share earnings took off 10 points, while the multiple moved less (P/E 19.0x to 18.3x).
The share count barely moved.

Net profit growth-10 ptsNet profit fell about 10%, which lowers the price.

P/E change-4 ptsThe P/E fell from 19.0x to 18.3x, which lowers the price.

Share count change0 ptsShare count was little changed. More shares would count against the price.

What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Not shown for 3 years and 5 years: earnings were negative at one end, or there is not enough history.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with COROMANDEL INTERNATIONAL LIMIT

Is it expensive against its own past and its peers?

18.3xP/E todayWithin its usual range

Against its own history56th percentileMedian 16.7x; usual range 7.5x to 66.9x since 2021-11.

Against Process Industries18.3x vs 18.0xClose to the Process Industries median.

P/EP/BP/S

P/E (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

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P/B (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

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P/S (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dashed line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Process Industries is valued

What is the price implying?

~19%annual earnings growth implied by the price

At a P/E of 27.1x, the price would imply about 18.8%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Below the ₹1,000 cr market-cap floor used for the lists.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Process Industries The market-wide Expectations lists

What changed?

Sep '26Year-on-year EPS growth turned negative.
Sep '26Slipped to the 2nd quartile of Process Industries on operating margin (from the top quartile).
Jun '26Moved into the top quartile of Process Industries on operating margin (from the 2nd quartile).
Jun '26Debt / equity rose above 1.0x (1.13x).
Mar '26Moved into the 2nd quartile of Process Industries on operating margin (from the bottom quartile).
Dec '25Slipped to the bottom quartile of Process Industries on operating margin (from the top quartile).
Sep '25Moved into the top quartile of Process Industries on operating margin (from the 2nd quartile).
Jun '25Year-on-year EPS growth turned positive.

Show 9 earlier events

Jun '25Moved into the 3rd quartile of Process Industries on ROCE (from the bottom quartile).
Mar '25Moved into the 2nd quartile of Process Industries on operating margin (from the 3rd quartile).
Dec '24Promoter holding rose 3.7 pts to 58.6%.
Jun '24EPS (TTM) turned positive.
Mar '24Fell 78% from the Nov 2021 peak to the Mar 2024 low.
Jun '23EPS (TTM) turned negative.
Jun '23Slipped to the bottom quartile of Process Industries on ROCE (from the 2nd quartile).
Jun '23Dividend payout cut from 2% to 0% of profit.
Jun '22Slipped to the 2nd quartile of Process Industries on ROCE (from the top quartile).

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Are profits backed by cash?

6 of 7 checks are within range, 1 near a threshold.
Tap a check to see how it is measured.

Other income reliance-10%Within range

Other income as a share of pre-tax profit (trailing twelve months): -10.0%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate22%Within range

Median quarterly effective tax rate over about 2.5 years: 21.6%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.53xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.53x (cash from operations ₹66 cr, net profit ₹43 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow2 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 2. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-6 daysWithin range

Debtor days are below the median of the previous three fiscal years by 6 days (35 vs 41). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress0% of fixed assetsWithin range

Capital work-in-progress is 0% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+23 days / 2 yrsWithin range

Days payable changed by +23 over two years. Bands: rise of up to 30 days; more than 30 days.

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 2 years, promoters added 3.7 pts; DIIs added 2.2 pts.
The number of shareholders fell from 20,016 to 14,522 (-27%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change

Promoters54.9%58.6%+3.7 pts

FIIs0.0%0.0%0.0 pts

DIIs0.0%2.2%+2.2 pts

Public and others45.1%39.1%-5.9 pts

Number of shareholders

14,522shareholders-27% since Dec '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

How rough has the ride been?

Maximum drawdown-78.1%not yet recovered

1-year volatility51.5%annualised

Monthly share price

Last 90 trading days

Drawdown from peak

Largest drawdowns

-78.1% (2021-11 peak to 2024-03 low, not yet recovered)

Where does it rank among Process Industries peers?

Each cell is the company's percentile rank among its Process Industries peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

ROCE

Op. margin

Revenue growth

EPS growth

Debt/equity ↓

Cash cycle ↓

P/E ↓

12M momentum

Nov '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Oct '26

Lower rank Higher rank

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Process Industries sector page Watch it move against Process Industries in the Observatory

What happened next to similar setups

−0.1%typical 12-month return vs the marketNot meaningfully different from the base rate

We found 50 past situations where a non-financial company looked like MANGALAM ORGANICS LIMITED today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −24% to +42% vs the market, against −5% for all non-financial companies in the same months.
The gap against the base rate (+5.3%, 80% range −2.7% to +11.8%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 4 beyond the range shown, drawn at the edge

Similar setups' median

−0.1%

All companies' median

−5.4%

Beat the market

50% vs 44%

50 past situations · 50 companies · 34 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
KHADIM Consumer Non-Durables	Apr 2024	36x	10%	+54%	−14%	−18%
JAYSREETEA Process Industries	Jul 2021	20x	7%	+134%	−8%	−36%
BLKASHYAP Industrial Services	Jan 2023	15x	10%	+6%	−18%	+65%
GOKEX Consumer Non-Durables	Feb 2020	10x	10%	−17%	−47%	+2%
CENTUM Electronic Technology	Feb 2020	15x	10%	−17%	−43%	−2%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
TCPLPACK Commercial Services	Apr 2022	22x	—	+67%	−14%	+93%
SANGAMIND Process Industries	May 2020	11x	7%	−39%	−45%	+45%
JAYBARMARU Distribution Services	May 2023	26x	9%	+15%	−16%	+7%

How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: P/E, 12-month momentum and drawdown from 12-month high. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to MANGALAM ORGANICS LIMITED. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-10-30. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 97,430 company-months from 2000 companies; financial: 5,632 company-months from 106 companies. 2240 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Monthly history (60 months)

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-10	18.3x	₹655 cr	6.5%	10.0%	1.1x
2026-09	18.6x	₹655 cr	6.5%	10.0%	1.1x
2026-08	17.3x	₹623 cr	8.1%	10.0%	1.1x
2026-07	16.1x	₹623 cr	8.1%	10.0%	1.1x
2026-06	18.4x	₹623 cr	8.1%	10.0%	1.1x
2026-05	19.8x	₹619 cr	8.5%	7.0%	0.9x
2026-04	15.7x	₹619 cr	8.5%	7.0%	0.9x
2026-03	12.6x	₹619 cr	8.5%	7.0%	0.9x
2026-02	14.6x	₹578 cr	8.2%	7.0%	0.9x
2026-01	14.6x	₹578 cr	8.2%	7.0%	0.9x
2025-12	17.4x	₹578 cr	8.2%	7.0%	0.9x
2025-11	18.3x	₹559 cr	7.9%	7.0%	0.9x
2025-10	19.0x	₹559 cr	7.9%	7.0%	0.9x
2025-09	19.8x	₹559 cr	7.9%	7.0%	0.9x
2025-08	37.4x	₹530 cr	4.3%	7.0%	0.9x
2025-07	32.2x	₹530 cr	4.3%	7.0%	0.9x
2025-06	39.5x	₹530 cr	4.3%	7.0%	0.9x
2025-05	49.8x	₹485 cr	3.5%	4.0%	0.6x
2025-04	34.3x	₹485 cr	3.5%	4.0%	0.6x
2025-03	30.5x	₹485 cr	3.5%	4.0%	0.6x
2025-02	48.0x	₹472 cr	2.6%	4.0%	0.6x
2025-01	47.5x	₹472 cr	2.6%	4.0%	0.6x
2024-12	52.5x	₹472 cr	2.6%	4.0%	0.6x
2024-11	64.9x	₹503 cr	2.0%	4.0%	0.6x
2024-10	74.7x	₹503 cr	2.0%	4.0%	0.6x
2024-09	78.9x	₹503 cr	2.0%	4.0%	0.6x
2024-08	109.0x	₹494 cr	1.5%	4.0%	0.6x
2024-07	91.2x	₹494 cr	1.5%	4.0%	0.6x
2024-06	71.7x	₹494 cr	1.5%	4.0%	0.6x
2024-05	—	₹493 cr	-9.8%	-4.0%	0.7x
2024-04	—	₹493 cr	-9.8%	-4.0%	0.7x
2024-03	—	₹493 cr	-9.8%	-4.0%	0.7x
2024-02	—	₹493 cr	-9.8%	-4.0%	0.7x
2024-01	—	₹493 cr	-9.8%	-4.0%	0.7x
2023-12	—	₹493 cr	-9.8%	-4.0%	0.7x
2023-11	—	₹493 cr	-9.8%	-4.0%	0.7x
2023-10	—	₹493 cr	-9.8%	-4.0%	0.7x
2023-09	—	₹493 cr	-9.8%	-4.0%	0.7x
2023-08	—	₹493 cr	-9.8%	-4.0%	0.7x
2023-07	—	₹493 cr	-9.8%	-4.0%	0.7x
2023-06	—	₹493 cr	-9.8%	-4.0%	0.7x
2023-05	7.0x	₹491 cr	17.7%	20.0%	0.7x
2023-04	7.6x	₹491 cr	17.7%	20.0%	0.7x
2023-03	5.3x	₹491 cr	17.7%	20.0%	0.7x
2023-02	6.4x	₹491 cr	17.7%	20.0%	0.7x
2023-01	7.4x	₹491 cr	17.7%	20.0%	0.7x
2022-12	8.2x	₹491 cr	17.7%	20.0%	0.7x
2022-11	8.6x	₹491 cr	17.7%	20.0%	0.7x
2022-10	8.5x	₹491 cr	17.7%	20.0%	0.7x
2022-09	9.1x	₹491 cr	17.7%	20.0%	0.7x
2022-08	9.0x	₹491 cr	17.7%	20.0%	0.7x
2022-07	9.6x	₹491 cr	17.7%	20.0%	0.7x
2022-06	9.0x	₹491 cr	17.7%	20.0%	0.7x
2022-05	6.0x	₹338 cr	33.7%	50.0%	0.1x
2022-04	8.6x	₹338 cr	33.7%	50.0%	0.1x
2022-03	9.1x	₹338 cr	33.7%	50.0%	0.1x
2022-02	8.8x	₹338 cr	33.7%	50.0%	0.1x
2022-01	10.9x	₹338 cr	33.7%	50.0%	0.1x
2021-12	10.5x	₹338 cr	33.7%	50.0%	0.1x
2021-11	10.0x	₹338 cr	33.7%	50.0%	0.1x

Methodology and data notes