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Penny stock engaged in the business of manufacturing, marketing, and trading in Edible and non-edible Oils, Seeds, and their derivatives jumped 11 percent in the day’s trade following the decision to produce Cold Press Pharma Grade Castor Oil. 

Price Action 

With a market capitalization of Rs. 440 Crores, the shares of Mangalam Global Enterprise Limited were trading at Rs. 26.75 per equity share, up 2 percent from its previous day’s close price of Rs. 26.34. 

What Happened 

Mangalam Global Enterprise Limited has announced that along with its existing grades of Castor Oil production, it has now decided to produce “Cold Press Pharma Grade Castor Oil. The same manufacturing setup will come at its existing integrated Castor Oil Plant at Kapadvanj, Gujarat. 

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Further, it will market the Cold Press Pharma Grade Castor Oil through B2B & B2C. The plans to come up with the production of Cold Press Pharma Grade Castor Oil will substantially improve the overall profitability of the Company. 

Cold Press Pharma Grade Castor Oil market size is expected to see exponential market growth, The growth of the market can be attributed to the increasing demand for Cold Press Pharma Grade Castor Oil owing to Oral Medicine, Tropical Medicine, Injection Medicine, other applications across the global level. 

About the company 

Mangalam Global Enterprise Limited is engaged in the business of manufacturing, marketing, and trading in Edible and non-edible Oils, Seeds, and their derivatives. Its product portfolio consists of refined soyabean oil, refined vegetable oil, castor de-oiled cake, pungent mustard oil, soya oil, soya meal, wheat, rice, and many more. 

Financials and Ratios 

Its revenue from operations grew by 29.15 percent from Rs.1,424 Crores in FY23 to Rs. 1,839 Crores in FY24, accompanied by profits of Rs. 13 Crores to Rs. 20 Crores. 

In terms of Return ratios, it has reported a return on equity (ROE) of 14.8 percent, and a return on capital employed (ROCE) of 13.1 percent. It has reported a debt-to-equity ratio of 0.45.

Written by: Bharath K.S 

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