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* - Tentative Dates
The company proposes to utilize the Net Proceeds towards funding the following Objects:
Mangalam Industrial Finance Ltd's revenue increased by 13.84% and profit after tax (PAT) dropped by -474.62% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 28.66 | 34.71 | 32.30 |
| Revenue | 1.33 | 1.17 | 2.05 |
| Profit After Tax | -5.01 | 1.34 | 0.67 |
| Net Worth | 28.34 | 33.39 | 32.05 |
| Amount in ₹ Crore | |||
Mangalam Industrial Finance Limited was incorporated in 1983 with the primary aim of providing financial assistance to industrial undertakings through loans and advances to acquire critical assets such as machinery, land, buildings, and other items. The company subsequently expanded its business scope to include investment/trading in shares and securities and financing transactions, including housing finance.
In 1983, the company's objectives were further amended to encompass the manufacturing and trading agricultural products such as tobacco, jute, cotton, textiles, sugarcane, vegetable products, oilseeds, food grains, and other items. The company intended to operate in two segments, namely NBFC and agro-based industries, but it currently focuses primarily on the NBFC segment.
It is a Non-Banking Financial Company registered with the Reserve Bank of India in Kolkata, and our core focus is on providing a broad range of financial solutions. In 2021, the company's control and management changed due to the successful completion of the Open Offer by the Acquirers (Mr Venkata Ramana and others).
