Incorporated in 2008, Mangal Electrical Industries Limited is a key player in the power sector, specializing in manufacturing and processing electrical components for the transmission and distribution of electricity. The company’s diverse product portfolio includes transformers ranging from 5 KVA to 10 MVA, as well as critical components like transformer laminations, CRGO slit coils, and amorphous cores. Operating under the “Mangal Electrical” brand, the company is recognized for its strong reputation and high brand recall.

With five production facilities in Rajasthan, Mangal Electrical also offers comprehensive EPC services for setting up electrical substations, primarily for government and public sector clients. The company boasts a robust customer base, including governmental utilities and private sector energy producers, and has a global presence with exports to several countries. As of June 30, 2025, the company’s strong order book of ₹29,419.78 lakhs highlights its future revenue potential and sustained growth trajectory. The company is ISO certified and holds approvals from PGCIL and NTPC, underscoring its commitment to quality and operational excellence.

For the year/period ended (Rs. in Cr.)

For year/ period ended ( in Cr.)

• Experienced Management: The company benefits from promoters and a senior management team with over 35 years of industry experience, ensuring strong leadership, strategic guidance, and business expansion.
• Diverse Customer Base: A highly diversified customer base, spanning power utilities and industrial conglomerates across India and abroad, helps mitigate sector-specific risks and ensures stable revenue streams.
• Backward and Forward Integration: The company’s in-house capabilities for processing raw materials (CRGO, amorphous, and ICB) and its EPC services create a backward and forward integrated supply chain, enhancing efficiency and competitive advantage.
• Strong Financial Performance: With a proven track record of consistent growth and profitability since its inception, the company demonstrates financial stability and resilience against market volatility, positioning it for long-term success.

The Company MANGAL ELECTRICAL IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:

• Repayment /pre-payment, in full or in part, of certain outstanding borrowings availed by the Company (₹ 27 Cr.)
• Capital expenditure including civil works of the Company for expanding the facility at Unit IV situated at Reengus Sikar District, Rajasthan (₹ 86 Cr.)
• Funding working capital requirements of the Company (₹ 122 Cr.)
• General corporate purposes.

At the upper band of IPO ₹ 561, the stock is valued at 32.77 P/E multiple. Hence, well-informed investors subscribe for medium to long term perspective.