Mangal Electrical Industries Ltd

Corrigendum highlights

• AGM date/time/mode: August 26, 2026 at 2:00 PM IST via VC/OAVM.
• Correction to Item 5: Secretarial Auditor to be appointed for five consecutive FYs 2026-27 to 2030-31.
• Remuneration for Secretarial Auditor to be determined by the Board.
• Ms. Neha Rathi to be listed as Company Secretary & Compliance Officer of Raghav Productivity Enhancers Limited.
• Corrigendum forms an integral part of the AGM Notice and FY 2025-26 Annual Report.

Issue Overview

• Type of issue: IPO; securities: equity shares.
• Issue size disclosed; net proceeds not disclosed; no revision or undersubscription noted.
• Main objectives: debt repayment, capex, working capital, general corporate purposes, and issue-related expenses.

Utilisation of Proceeds

• Utilisation status: not fully per offer document; partial deployment.
• Deviations: no material deviations from disclosed expenditures.
• Repayment of loans: deployment partial; end unutilised balance.
• Capex: partial deployment; large unutilised balance pending quotations approvals.
• Working capital: end-quarter over-utilised; funds reallocated.
• General corporate purposes: utilised; no idle funds.
• Issue related expenses: some spent; reimbursement partial.
• Unutilised funds: total parked in fixed deposits.
• Unutilised funds by instrument: fixed deposits with bank; maturities varied.

Governance and Compliance

• Approvals: all government/statutory approvals obtained.
• Material events: post-issue share price decline noted; board cites market conditions.
• Other information: no additional material events reported.

General Corporate Purpose (GCP)

• GCP not applicable; expenditure completed per monitoring report.

Q1 FY27 financials

• Revenue from operations: ₹125.8 Cr in Q1 FY27.
• EBITDA: ₹11.1 Cr; margin 8.8%.
• PAT: ₹7.5 Cr; margin 6.0%.
• EPS: ₹2.72.
• YoY: revenue ₹125.8 Cr vs ₹89.7 Cr; PAT ₹7.5 Cr vs ₹3.7 Cr.

Operational highlights & strategy

• CRGO volume up ~32% YoY in Q1 FY27.
• CRGO realizations down ~18% YoY; up 5% sequentially.
• CRGO prices stabilizing; early recovery signs.
• Transformer capacity expansion progressing; completion targeted by end-FY27.
• Acquired land adjacent to Reengus facility to support expansion.
• Focus on transformer components; CRGO laminations and new products.
• MD: FY27 started positively; expects sustainable growth.

Revenue mix by segment

• Transformer components revenue: ₹83.9 Cr.
• Transformer revenue: ₹24.4 Cr.
• EPC & others: ₹17.5 Cr.
• Total revenue: ₹125.8 Cr.

Segment Reporting Update

• Under Ind AS 108, only one reportable segment exists: power; main business includes transformers, CRGO, and EPC contracts.
• For quarter ended June 30, 2025, no separate segment information was disclosed in unaudited results.

Meeting Details

• Date: July 29, 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve the unaudited quarterly results for the quarter ended June 30, 2026.

Other Notes

• Trading window closed for designated persons and relatives from July 1, 2026 to 48 hours after results declaration.

Dematerialisation/rematerialisation status

• Dematerialisation securities received up to period were confirmed to depositories by the Registrar and Share Transfer Agent.
• Dematerialised securities are listed on the stock exchanges where the earlier issues are listed.
• Physical certificates were mutilated and cancelled, with the depository's name substituted as registered owner within 15 days.