Manglam Infra (MIEL)

Score breakdown: P/E: 2/3 · ROCE: 1/2 · Growth: 0/2 · Dividend: 0/1

Key Financials

Strengths

• ROCE of 12.90% shows the existing capital base is generating a reasonable return.
• Latest quarter remains profitable: ₹1 Cr net profit on ₹13 Cr sales, roughly 7.7% margin.
• Current price ₹16.50 is above the 52-week low of ₹10.70, showing some buyer interest.
• P/E of 19.46 is not extreme for a small-cap Indian consulting firm.
• Small market cap of ₹27 Cr leaves room for a niche player to pivot if management executes well.

Concerns

• Sales growth -25.06% and profit growth -51.49% indicate a rapidly shrinking business.
• Piotroski F-Score 3/9 points to weak fundamental health and possible financial stress.
• Zero dividend means no income support while waiting for a recovery.
• No disclosure of book value, debt/equity, or promoter holding prevents a proper Graham-style margin-of-safety assessment.

AI Analysis

At ₹16.50, Manglam Infra wears a market cap of just ₹27 Cr. That alone tells me I am outside the comfortable territory of large, stable businesses. I start with numbers, and they are not pretty: sales are down 25.06%, profits are down 51.49%, and the Piotroski score is a weak 3 out of 9. A 19.46 price-to-earnings ratio on falling earnings is not cheap; Graham would demand a margin of safety, not hope. ROCE of 12.90% is respectable, and the latest quarter's ₹13 Cr revenue with ₹1 Cr profit shows the business is still alive. But consulting is a people-driven trade, not a fortress; I see no pricing moat, no pricing power. Zero dividend means I receive nothing while waiting. Worse, no book value, no debt-to-equity ratio, and no promoter holding details means I cannot calculate tangible asset protection. The 52-week range of ₹10.70 to ₹18.00 shows heavy price volatility, and at ₹16.50 I am near the top, so I am not getting a distressed bargain. I need proof that the decline has reversed. If sales stabilize and margins improve, this could become a turnaround; otherwise it is a speculative small-cap story. I prefer businesses with predictable economics; this one lacks the data and durability to qualify as an investment. I will keep it on watch, but not put capital to work.

Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer