Manglam Infra Shares Hit 5% Upper Circuit After Winning MoRTH Orders
Shares of Manglam Infra & Engineering Limited surged by 5%, reaching ₹27.7 on the National Stock Exchange (NSE) during Wednesday’s trading session. This spike came after the company emerged as the Lowest Bidder (L1) for a ₹2 crore project from the Ministry of Road Transport & Highways (MoRTH), India.
Stock Performance and Market Insights
Manglam Infra’s stock, currently priced at ₹27.7, has a market capitalization of ₹48.7 crores. Despite the recent price jump, the stock is still trading at a 77% discount from its 52-week high of ₹123.1 (recorded on August 2, 2024). The company’s stock price has been under pressure in recent months, but the latest contract wins have provided a positive trigger for investors.
Key Stock Highlights:
- Current Market Price: ₹27.7
- 52-Week High/Low: ₹123.1 / ₹25.0
- Stock P/E: 7.15
- Book Value: ₹27.0
- Promoter Holding: 72%
- Debt-to-Equity Ratio: 0.07
- Price to Book Value: 1.02
Major Order from MoRTH
According to its latest filing with the NSE, Manglam Infra has been awarded a consultancy contract for the Shewali Fata to Kalambhir section (0.443 km to 4.500 km) and the Nizampur to Chadwel section (13.485 km to 26.265 km) in Maharashtra. The project, valued at ₹2 crores, is expected to be completed within 18 months.
Additionally, on March 4, 2025, the company secured another MoRTH project worth ₹1.97 crores for consultancy services related to a highway supervision project in Maharashtra. This contract also has a completion timeline of 18 months.
Previous Major Contract Win
Manglam Infra has been on a winning spree when it comes to securing infrastructure contracts. On February 25, 2025, the company bagged a ₹66.6 crore contract for a Feasibility Study (FS) and Detailed Project Report (DPR). The project involves constructing a 25 km Gelemo-Pukar La road in Arunachal Pradesh under the EPC (Engineering, Procurement, and Construction) model. This project is part of the 128 RCC under the 23 BRTF Project Arunank.
Financial Performance
Despite winning multiple contracts, Manglam Infra’s financials have shown a decline in recent months. The company’s revenue from operations fell by nearly 50%, dropping from ₹35 crores in H2 FY24 to ₹17.7 crores in H1 FY25. Similarly, net profit also dipped by 54.5% YoY, declining from ₹6.6 crores to ₹3 crores.
Financial Ratios and Metrics
| Metric | Value |
|---|---|
| Market Cap | ₹48.5 Cr. |
| Current Price | ₹27.6 |
| High / Low | ₹123 / ₹25.0 |
| Stock P/E | 7.15 |
| Book Value | ₹27.0 |
| Dividend Yield | 0.00% |
| ROCE (Return on Capital Employed) | – |
| ROE (Return on Equity) | – |
| Face Value | ₹10.0 |
| Promoter Holding | 72.0% |
| Price to Book Value | 1.02 |
| Debt to Equity | 0.07 |
| Pledged Percentage | 0.00% |
| Industry P/E | 24.8 |
| Graham Number | ₹57.0 |
| Intrinsic Value | – |
| RSI (Relative Strength Index) | 30.8 |
| EPS (Earnings Per Share) | ₹5.34 |
| Number of Equity Shares | 1.76 Cr. |
| PEG Ratio | – |
| 200-Day Moving Average (DMA 200) | ₹62.1 |
| Free Cash Flow (3Yrs) | – |
| Free Cash Flow | ₹-1.76 Cr. |
| Debt | ₹3.11 Cr. |
| Free Cash Flow (5Yrs) | – |
| Return on Assets | – |
About Manglam Infra & Engineering Ltd
Established in 2010, Manglam Infra & Engineering Ltd is a leading engineering consulting company specializing in infrastructure projects, including:
✅ Roads & Highways
✅ Bridges & Tunnels
✅ Construction Management
✅ Urban & Rural Development
✅ Environmental Engineering
✅ Geotechnical Investigations
The company provides consulting, planning, design, and construction management solutions for various government and private sector projects across India.
Final Thoughts: Should Investors Consider This Stock?
Manglam Infra’s recent contract wins from MoRTH demonstrate its strong positioning in the infrastructure sector. However, the company’s declining revenue and net profit raise concerns about its financial stability.
🔹 Positives:
✔️ Strong order book with government projects
✔️ Low debt-to-equity ratio (0.07)
✔️ High promoter holding (72%)
🔹 Concerns:
❌ Revenue & profit decline in recent quarters
❌ Stock trading at a 77% discount from its 52-week high
❌ Negative free cash flow (₹-1.76 Cr.)
Given its attractive valuation (P/E 7.15) and recent order wins, Manglam Infra may see positive momentum in the near term. However, investors should closely track the company’s financial performance and execution capability before making any investment decisions.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.