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Steel Giant Splits Stock 10-for-1, Eyes Main Board Listing
18 May
Summary
- Board approved a 10-for-1 stock split, lowering face value to ₹1.
- Company seeks direct listing on the BSE main board.
- Reported ₹1,214.98 crore revenue and ₹50.14 crore profit for FY26.
Mangalam Worldwide Limited (MWL) announced on May 15, 2026, that its board has approved a significant 10-for-1 equity share split. This corporate action will reduce the face value of each share from ₹10 to ₹1, making the stock more accessible to a wider range of investors. The proposal is pending necessary shareholder and regulatory approvals.
In conjunction with the stock split, MWL is also seeking approval for a direct listing on the BSE main board. This strategic move aims to increase the company's visibility and trading liquidity. These developments are underpinned by MWL's robust financial performance in the fiscal year ending March 2026.
The stainless steel manufacturer reported revenues of ₹1,214.98 crore and a profit after tax of ₹50.14 crore for FY26. The board has recommended a final dividend payout of ₹0.30 per share for the same period. MWL operates four manufacturing facilities in Gujarat with a substantial annual capacity.
