Mangalam Global Enterprise To Acquire Edible Oil Refinery & Packaging Unit

Mangalam Global Enterprise Limited., a leading processor of castor oil, mustard oil, soyabean oil and their derivatives, Co. has entered into an Agreement on June 18, 2024 to Purchase Plant & Machinery and Buildings from Shree Gurukrupa Oil and Foods and lands admeasuring 19833 square yards at Jotana, Mehasana, Gujarat. Purchase of the said Assets viz. land, plant & machinery and building with following installed capacity at cost of Rs. 10.87 Crores - Edible Oil Refinery & Packing Unit with a capacity of approx. 200 metric tons per day, and Oil Seed crushing plant with a capacity of 20 metric tons per day.

Mehsana Plant acquisition is earnings accretive as same will drive volumes and help improve margins.

In Box

The Union Cabinet in its meeting held on Wednesday approved the Minimum Support Price (MSP) for upcoming kharif crops. The average increase on a year-on-year (YoY) basis is around 5-6 per cent which is broadly the usual trend. It is higher for Pulses and Oilseeds given the government's thrust on increasing their production domestically and reducing imports. Agro company's look to benefit.

Mangalam Global Enterprise Limited is Group Mangalam's agricultural vertical based out of Gujarat and Rajasthan, producing castor oil, mustard oil, soyabean oil and their derivatives, as well as, wheat, rice and cotton ginning. The Company has oil manufacturing facilities and grain processing based out of Bundi in Rajasthan, Bavla & Kapadvanj in Gujarat, which supply the oils to customers across the world.

Sales and Profit margin of the company have seen significant improvement in the past couple of years due to backward integration through strategic acquisition of Oil processing plants.

Group Mangalam is a multinational conglomerate, with a rich legacy of 8 decades spanning from 1942, it was founded in Beawar, Rajasthan. Led by our dynamic chairman Mr. Vipin Prakash Mangal, Group Mangalam has strategic interests in various crucial industries like Agriculture (Mangalam Agri), Stainless Steel (Mangalam Saarloh), E-waste Management (Mangalam ECS), Specialty Chemicals (Mangalam Dura) and Structured Finance.

Mangalam Group works towards inclusive growth for all by being a leading corporate citizen and contributing towards the betterment and well-being of society. Alongside Mr. Vipin Prakash Mangal, the group is being led by his sons, Mr. Chanakya Prakash Mangal and Mr. Chandragupt Prakash Mangal. Together, they are taking forward the proud legacy of the group, of development of the society with emphasis on fulfilment of the fundamental needs of the people, providing quality products and services, setting new trends in the industries and upholding all the stakeholder's confidence through innovation, continuous improvement and growth.