Manglam Infra and Engineering IPO

Manglam Infra and Engineering Limited is an infrastructure consultancy company initially formed as a partnership named “Manglam Associates” on February 17, 2010. The partnership firm transitioned into a public limited company on July 20, 2023. The company focuses on providing project management consultancy services, including detailed project reports (DPRs), supervision and quality control (SQC), and operation and maintenance (O&M) for various infrastructure projects such as highways, roads, bridges, tunnels, and buildings.

Manglam Infra and Engineering Limited serves several state governments across India, including Madhya Pradesh, Jammu & Kashmir, Bihar, and Maharashtra. The company has completed 127 projects, 116 of which were done independently and 11 through joint ventures. Currently, 45 projects are ongoing, split between independent and joint ventures.

The company boasts a team of over 300 qualified professionals with extensive experience. Additionally, third-party service providers are occasionally engaged for specific contracts. The order book, as of May 31, 2024, stood at ₹7,890.87 lakh. The company has shown a positive growth trend, with total revenue increasing from ₹2,678.36 lakh in Fiscal 2022 to ₹4,050.79 lakh in Fiscal 2024. Net profit also grew significantly over the same period.

Promoters Ajay Verma and Yogendra Kumar Singh bring over 33 years of combined experience in infrastructure consultancy engineering services, playing a crucial role in the company’s strategic direction and growth. With a strong presence in over 10 Indian states, Manglam Infra and Engineering Limited is well-positioned to continue expanding its geographical footprint and exploring new growth opportunities in the infrastructure sector.

Manglam Infra and Engineering IPO Strengths

• Diversified project portfolio includes road, bridge, tunnel, building, and urban development projects.
• Comprehensive services include design, engineering, procurement, and project management services.
• Manglam Infra boasts an experienced workforce of over 272 employees, including 159 engineers with extensive expertise.
• Manglam Infra’s revenue grew from ₹2,581.16 lakh in FY 2022 to ₹4,024.36 lakh in FY 2024, showcasing consistent growth.
• The company is transitioning to integrate project execution with its consultancy services.
• Manglam Infra aims to attract and retain skilled professionals with enhanced training and development programs.

Manglam Infra and Engineering IPO Risks

• Manglam Infra relies heavily on government contracts; losing tenders could impact revenue.
• Revenue depends on unpredictable project awards, which can fluctuate.
• Delays in securing contracts could lead to extra costs for maintaining or adjusting the workforce.
• Clients may cancel, suspend, or adjust contracts, impacting financial stability.
• High revenue concentration in certain regions makes Manglam Infra vulnerable to regional disruptions.