Mangalam Worldwide Ltd Company Summary

Mangalam Worldwide Ltd Summary

Mangalam Worldwide Limited was originally incorporated on December 11, 1995 as Temchem Exports Private Limited, as a Private Limited Company. Thereafter, the name of the Company was changed to Hindprakash Exim Private Limited vide fresh Certificate of Incorporation dated April 30, 2007 from Registrar of Companies, Gujarat. Later, the name changed to Mangalam Worldwide Private Limited dated October 13, 2014. Consequent upon conversion of the Companys status into Public Limited Company, name was Company changed to Mangalam Worldwide Limited and fresh Certificate of Incorporation dated March 16, 2022 was issued by Registrar of Companies, Ahmedabad. The Company was originally formed in 1995 by Shareholders namely Mr. Suresh J. Sharma and Mr. Bhavin K. Shah with the main object of trading in textile, Chemicals and other Intermediates etc. Later, in November 2000 such then existing shareholders had transferred their stake to Mr. Dinesh Gupta and Mr. Sachin Modi. In the year 2002, Company was taken over by Mangalam Group. At present, majority of the stake belongs to Promoters, Mr. Vipin Prakash Mangal, Mr. Chanakya Prakash Mangal and Mr. Chandragupt Prakash Mangal. The Company is mainly engaged in manufacturing of Stainless Steel (SS) Billets and rolling of SS Flat Bars with fully integrated infrastructure consisting of steel melting shops, rolling mills and finishing machines at plants located at Halol (Unit-I) and Changodar (Unit-II), Gujarat. The Company also does the manufacturing of Stainless Steel (SS) Billets on job work basis. To cater the demand of customers for SS Round bars and SS Bright bars, the Company get manufacturing of such products on job work basis from third party manufacturers. The Company is also engaged in trading of steel scrap, ferro alloys, steel chemicals etc.The manufacturing Unit I Plant is located at Halol (Gujarat) and Unit II is located at Changodar (Gujarat). Unit I is having installed capacity of 66000 MT/p.a. of Stainless Steel (SS) Billets of 200 series, 300 series (including series 304 and series 316), 400 series and out of which 200 series SS Billets are captively consumed in Unit II. Unit II is having installed rolling capacity of 90,000 MT/p.a. of SS Flat bars. Apart from this, the products are used across industries like Food and Dairy Equipments, Utensils, Oil and Gas, Aerospace and Medical Devices among others. The Companys major customers are spread across states Rajasthan, Gujarat, Maharashtra and Uttar Pradesh. Recently, the Company has also started exporting products to Brazil. The Company manufacture wide range of stainless steel of 200 series, 300 series (including series 304 and series 316), 400 series - grades in Austenitic, Ferritic, Martensitic and special chemical composition grades steel like 17/4 PH, Duplex and Super Duplex Steel. The Company with sound infrastructure, zero tolerance quality policies and with energetic team of experts, make sure that it can fulfill any special customer requirements for various critical product applications. The Company is Quality Management System certified Company and holding ISO 9001:2015, ISO 45001:2018, ISO 14001:2015 certificates.Pursuant to the Scheme of Amalgamation, Agarwal Mittal Concast Private Limited (AMCPL) (a company under CorporateInsolvency Resolution Process), was amalgamated with the Company effective from December 13, 2021 and the Company acquired a Melting shop at Halol, Gujarat (i.e. Unit - I).In July 2022, Company made an Initial Public Offer (IPO) for 64,93,200 Equity shares of Rs. 10/- each by raising funds aggregating to Rs. 65.59 Crores. In 2023, Company started Manufacturing & Marketing of Seamless Pipes & Tubes with Brand Name Mangalam Tubicore. The Steel Division of H.M. Industrial Private Limited (HMIPL) was demerged and vested into with the Company. Similarly, the Company acquired VICOR and Mangalam Saarloh Private Limited (MSPL), a subsidiary company got merged with the Company. Further, pursuant to the proposed Scheme, 245 fully paid up equity shares of Rs. 10/- each were issued by the Company, for every 100 fully paid-up equity shares of Rs. 10/- each of Mangalam Saarloh Private Limited. In 2024, Company has installed bright bar manufacturing unit at Kapadvanj for conversion of Round Bar to Bright Bars.