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Mangalam Organics Limited (MANORG) Fair Value & Analysis

Basic Materials · IN · Market cap ₹3.9B

MO Mangalam Organics Limited MANORG · BSE
Price₹473.00
Fair Value₹511.25
Upside+8.1%
Quality44/100
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Strengths

Solidly profitable · 16.0% net margin

Risks

!Expensive Growth
!Low debt · negative free cash flow
!Moderate moat 45/100
Expensive Growth
Solidly profitable · 16.0% net margin
Low debt · negative free cash flow
Moderate moat 45/100
Evidence: High Range ₹299.20 – ₹579.87 Share as image

Fair value as of: Aug 21, 2026

From 16 valuation models · updated yesterday

Share price −15.5% over the past month.

Below-average quality, currently priced close to our fair value.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (₹299.20 to ₹579.87) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹1,236 ₹272.70 Fair Value ₹511.25 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.

How to read this chart

60‑month range ₹272.70 – ₹1,236 · fair‑value band ₹299.20 – ₹579.87 · the ₹473.00 price screens below the ₹511.25 fair value. Dashed = 300-day average. As of Aug 21, 2026.

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Analysis

Mangalam Organics Limited (MANORG) currently trades at ₹473.00, while our model-based Fair Value estimate is ₹511.25, implying the stock looks roughly 8.1% fairly valued today. The Quality Score stands at 44/100 (below-average quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Mangalam Organics Limited generated revenue of ₹489M at a net margin of 16.0%. Revenue grew 22.2% year over year. It earns a return on equity of 8.2%. Net debt stands at ₹3.6B. Fundamentals as of Aug 21, 2026

Our scenario range runs from ₹299.20 (bear case) to ₹579.87 (bull case); at ₹473.00, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 26% below its 52-week high and 34% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -67% fair-value upside, at 8%, MANORG screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income ₹303.97 ₹323.41 ₹362.21 76
ROIC Compounder ₹552.94 ₹734.40 ₹966.89 72
Gordon GGM ₹13.17 ₹26.25 ₹39.75 70
All 16 models by family
Earnings-Based
Graham-Dodd ₹204.50 ₹759.25 ₹1,026 54
Lynch FV ₹182.31 ₹260.44 ₹338.57 50
PEG = 1.0 ₹182.31 ₹260.44 ₹338.57 46
EPV ₹512.67 ₹603.55 ₹681.95 59
Dividend Discount
Gordon GGM ₹13.17 ₹26.25 ₹39.75 70
DDM Multi-Stage ₹13.17 ₹22.69 ₹27.71 61
Multiples
P/E Multiple ₹383.44 ₹511.25 ₹639.07 63
P/S Multiple ₹383.44 ₹511.25 ₹639.07 58
P/B Multiple ₹383.44 ₹511.25 ₹639.07 55
EV/EBIT ₹675.74 ₹921.94 ₹1,168 53
EV/EBITDA ₹706.24 ₹962.61 ₹1,219 54
EV/Revenue ₹577.26 ₹851.60 ₹1,126 43
Asset-Based
NCAV (Graham) ₹186.00 ₹249.24 ₹372.00 50
Economic Profit
Residual Income ₹303.97 ₹323.41 ₹362.21 76
ROIC Compounder ₹552.94 ₹734.40 ₹966.89 72
Growth Earnings
Growth-Adj P/E ₹299.20 ₹427.44 ₹555.67 68

Widest divergence: Multiples (₹511.25) versus Dividend Discount (₹22.69). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹489M
Revenue growth (YoY) +22.2%
Net margin 16.0%
Return on equity 8.2%
Free cash flow −₹626M FY2026
P/E ratio 19.8
More key figures
Operating margin 9.0%
EPS (TTM) ₹23.84
EPS growth (YoY) -40.5%
Net debt ₹3.6B FY2026

Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 41 · Market factors (momentum, volatility) 40

Profitability 47
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 4
Earnings quality: real cash, not paper profit
Fin. Strength 37
Balance sheet, leverage, solvency risk
Investment 54
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 28
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Mangalam Organics Limited manufactures and sells chemicals in India and internationally. The company offers terpene products, including camphor, camphene, isobornyl acetate, Isoborneol, dipentene, sodium acetate trihydrate, camphor oil, terpineol, isoborneol flakes, and pine tar; resin products, such as terpene phenolic and alkyl phenolic resins, penta and …

Full company description

Mangalam Organics Limited manufactures and sells chemicals in India and internationally. The company offers terpene products, including camphor, camphene, isobornyl acetate, Isoborneol, dipentene, sodium acetate trihydrate, camphor oil, terpineol, isoborneol flakes, and pine tar; resin products, such as terpene phenolic and alkyl phenolic resins, penta and glycerol modified ester gums; and camphor tablets. Its products are used in household, religious use, healthcare, hygiene, textiles and dyes, paints, cleaning and degreasing agents, leather tanning, adhesives, tires, rubber, chewing gums, and printing ink industries. The company was formerly known as Dujodwala Products Limited and changed its name to Mangalam Organics Limited in October 2013. Mangalam Organics Limited was incorporated in 1981 and is headquartered in Mumbai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Mangalam Organics Limited reported revenue of ₹6.2B in FY2026 versus ₹4.9B in FY2022, a compound +6.1%/yr. Reported net income was ₹258M in FY2026, compounding −16.8%/yr from FY2022.

Growth Quality 61/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹6.2B
Latest YoY
+17.5%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.1%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.0%
Avg. growth/yr (7Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.6%
Revenue +6.1%/yr
FY22 ₹4.9B
FY23 ₹4.9B
FY24 ₹4.9B
FY25 ₹5.3B
FY26 ₹6.2B
Net income −16.8%/yr
FY22 ₹537M
FY23 −₹242M
FY24 ₹44.1M
FY25 ₹126M
FY26 ₹258M

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Cite: Fair Value Calculator (2026). "Mangalam Organics Limited Fair Value". https://www.fairvalue-calculator.com/stock/MANORG.BSE

Peer Group

Specialty Chemicals · 679 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 44 · Below median
Fair Value upside +29% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 3% · Above median
Net margin (TTM) 16% · Top 25%
Operating margin (TTM) 9% · Above median
Revenue growth 22% · Top 25%
Dividend yield (TTM) 0.3% · Bottom 25%
Debt / equity 0.17× · Higher than median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 19.8× · Cheaper than median
P/B 1.22× · Cheaper than median
P/S (TTM) 7.95× · Pricier than 75% of peers
EV/EBITDA 34.2× · Pricier than 75% of peers

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).

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Wanhua Chemical Group 600309 ¥75.06 ¥68.03 -9%
Asian Paints Limited ASIANPAINT ₹2,630 ₹696.23 -74%
Solar Industries India Limited SOLARINDS ₹18,730 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,702 ₹351.84 -79%
PT Chandra Asri Pacific Tbk TPIA 2,030 IDR 2,147 IDR +6%
Berger Paints India Limited BERGEPAINT ₹541.00 ₹156.35 -71%
Gujarat Fluorochemicals Limited FLUOROCHEM ₹4,680 ₹724.88 -85%
Himadri Speciality Chemical Limited HSCL ₹703.65 ₹229.10 -67%
Enaex S.A ENAEX 25,000 CLP 23,584 CLP -6%

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Frequently asked questions

Is Mangalam Organics Limited (MANORG) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of ₹511.25 versus a price of ₹473.00, about +8% (fairly valued).
What is the fair value of MANORG?
Our model-based fair value for Mangalam Organics Limited is ₹511.25 (as of Aug 21, 2026), built from audited fundamentals. The current price: ₹473.00.
What is the quality score of MANORG?
Mangalam Organics Limited has a Quality Score of 44/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Mangalam Organics Limited (MANORG)?
Mangalam Organics Limited reported trailing-twelve-month revenue of about ₹489M (latest available figure, as of Aug 21, 2026).
What is the net profit margin of MANORG?
The net profit margin of Mangalam Organics Limited is about 16.0%, meaning it keeps roughly 16.0% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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