Mangalam Global Enterprise Ltd Share Price

History of Mangalam Global Enterprise Ltd

Mangalam Global Enterprise Limited was originally incorporated as a Private Limited Company with the name 'Hindprakash Colourchem Private Limited' on September 27, 2010. Further, the name of the Company was changed to 'Mangalam Global Enterprise Private Limited' and a fresh Certificate of Incorporation dated July 31, 2014 was issued by Registrar of Companies, Ahmedabad. Subsequently, the Company converted into a Public Limited Company and the name was changed to 'Mangalam Global Enterprise Limited' on September 30, 2019. The Company belongs to Ahmedabad based Mangalam Group of Companies set up by Mangal Family and led by the vision of Mr. Vipin Prakash Mangal. In this dynamic and extremely competitive business environment, the company has developed a diversified business model with its ...offerings ranging from castor oil to cotton products. It has been successfully catering to these two different sectors in their business operations. The Company is mainly engaged in the business of manufacturing of Refined Castor Oil First Stage Grade (F.S.G.), Castor De-Oiled Cake and High Protein Castor De-Oiled Cake for the domestic market as well as for exports to international markets. The Company has also diversified its business operations into manufacturing of Cotton Bales (Lint Cotton) and Delineate Cotton Seeds. Earlier to this, the Company was engaged in the trading business before starting commercial manufacturing of its above mentioned products in FY 2018-19. The Company has one cotton processing unit at Harij, Gujarat and two well-equipped Castor processing units at Harij and Palanpur, Gujarat respectively for undertaking manufacturing operations of above mentioned two product segments. It is also engaged in the trading of Castor Seeds and Raw Cotton. The Company's journey in the Cotton Manufacturing Industry started in the year 2018. With gaining an insight of the industry coupled with an available opportunity, the Company ventured into manufacturing of Cotton Bales (Lint Cotton) and Delineate Cotton Seeds. The Company has marked its presence in both domestic as well as global markets. The Company supplies its products in states such as Gujarat, Rajasthan, Delhi, Maharashtra, and West Bengal. In order to capture growing demand for Castor Oil in international market and to create a more responsive and cost-effective supply chain, the company started its export operations. The Company exports products to countries such as Thailand, Oman. In November 2019, the Company came up with a fresh Public Issue of 42,30,000 Equity Shares by raising money from public through equity aggregating to Rs 21.58 Crores. The Company entered into B2C market by launching new products like Refined Soyabean Oil, Refined Vegetable Oil, Pungent Mustard Oil under the Brand Name 'Lagnam' in April, 2022. The commercial production of Wheat & Rice Processing Unit at Balva started on 15 December, 2021. Further, the Company started its commercial operations/ production by launching of new products in domestic market i.e. Cotton Cake Cattle Feed which is the cattle feed and Cotton Wash Oil, which is the non-edible oil w.e.f. October 29, 2022. The Company sold entire equity share holding (i.e 60109 Equity Shares - representing 51.01%) of one its subsidiary namely Rajgor Castor Derivatives Private Limited and it ceased to be subsidiary company with effect from December 31, 2021. In 2022-23, through the Scheme of Arrangement, the Steel division of H.M. Industrial Private Limited (HMIPL) got demerged with one of the group Company, Mangalam Worldwide Limited (MWL); and HMIPL and the its rest business i.e. Agri Division was amalgamated with the Company effective from 20 September, 2022. By this acquisition of Agri Division of H.M. Industrial Private Limited, the Company acquired two units: Castor Oil Unit and Cotton Unit. Presently, the Company has started its Commercial Operations/production by manufacturing the Agri products i.e. Castor De-Oiled Cake, Castor Oil and allied by-products depending on its demand in market by setting up the Castor Unit at Kapadvanj w.e.f. April 03, 2023. Presently, the Company operates 4 plants located at: (i) Unit Bundi, Rajasthan - Soya & Mustard Oil, (ii) Unit Bavla, Sanand- Gujarat Wheat & Rice Processing , (iii) Unit Kapadvanj, Kheda- Gujarat - Castor Oil, (iv) Unit Kapadvanj, Kheda- Gujarat- Cotton.