Mangalam Worldwide Ltd

Dear Shareholders,

It is with great pride and optimism that I present to you the Annual Report for the year 2024–25 of Mangalam Worldwide Limited. This has been a landmark year for our Company, marked by robust growth, strategic advancements, and significant progress in our journey towards global leadership. Today, I am pleased to share highlights of our financial and operational performance, as well as the initiatives in innovation, sustainability, and market expansion that are shaping our future.

Operational Milestones and Diversification: During the year, we achieved key operational milestones that position us for sustained growth. Notably, we achieved full commercial production of our state-of-the-art bright bar manufacturing unit at Kapadvanj, enabling us to convert stainless steel round bars into precision bright bars. These bright bars have found applications in sectors such as automotive, railways, oil & gas, and many other engineering segments, enhancing our market reach and strengthening our reputation as a versatile manufacturer. This expansion of capabilities not only opens new revenue streams but also deepens our relationships with clients in high-demand sectors.

Commitment to Sustainability: We also took bold steps towards building a greener future. The successful installation and commissioning of a 1.2 MW (1200 kWp) rooftop solar power plant at our Kapadvanj manufacturing unit was a proud achievement for Mangalam Worldwide this year. The initiative is expected to lower our energy costs, reduce carbon emissions, and support India's renewable energy goals. By embracing solar power, we are demonstrating our unwavering commitment to sustainable industrial practices and reducing our carbon footprint. This investment not only improves our cost efficiency and energy independence but also aligns us with global environmental standards and the broader push for sustainability in manufacturing. We will continue to proactively invest in such initiatives that ensure long-term resilience and environmental stewardship in our growth journey.

Outstanding Financial Performance: In FY 2024 25, Mangalam Worldwide delivered excellent results, reflecting the strength of our strategy and execution. The Company's standalone revenue reached 1,066.03 crore, representing a 29.61% growth year-on-year, while net profit rose to 29.41 crore, a surge of 46.32% over the previous year. This strong performance has further solidi ed our financial foundation. We view these results as a testament to the dedication of our team and the trust of our customers, and they inspire us to aim even higher in the coming years.

Market Dynamics and Opportunities: The market environment for stainless steel products has been very encouraging, and our Company is well-positioned to capitalise on the opportunities ahead. We have seen increased usage of our products in critical applications – from automotive engine components and railway equipment to oil re nery infrastructure and general engineering machinery – as customers seek reliable, high-performance materials. In

India, one of the fastest-growing economies, stainless steel demand is expected to rise significantly in the coming years. The Government's focus on industrial development through initiatives like "Make in India" for sectors such as defence, railways, oil & gas, and aerospace is creating new avenues of growth for domestic manufacturers. With our fully integrated production capabilities and track record of quality, Mangalam Worldwide is uniquely equipped to meet this growing demand. We are con dent that our broad product range and technical expertise will enable us to serve an expanding array of applications and industries, both at home and abroad, in the years to come.

Global Expansion and Export Initiatives: In line with our vision to become a truly global player, we made significant strides in expanding our international footprint during 2024 25. We established a more substantial presence in key export markets across Europe and Southeast

Asia, gaining new customers and deeper market insights. To showcase our capabilities on the world stage, Mangalam Worldwide participated as an exhibitor in the prestigious International Wire Cable Trade Fair at Dusseldorf, Germany & Duplex World 2024 at Rotterdam, Netherlands.

These events were a valuable opportunity for us to connect with global clients, learn about the latest industry trends, and highlight our integrated stainless steel solutions to an international audience. We have been simultaneously investing in expanding our distribution network overseas and building strong relationships with global partners. In the future, we will continue to strengthen our export infrastructure and product approvals in different regions, ensuring that our high-quality stainless steel products reach customers around the world. Our global ambition remains clear – to establish Mangalam Worldwide as a name synonymous with excellence in stainless steel across continents.

Innovation, Integration, and Future Readiness: As we pursue growth, we remain deeply committed to innovation, efficiency, and technological advancement in our operations.

Throughout the year, we focused on continuously improving our manufacturing processes and adopting cutting-edge technologies to enhance productivity and product quality. Our fully integrated production setup spanning from scrap metal melting to finished seamless pipes and tubes gives us significant control over quality and cost at every step. This end-to-end capability not only differentiates us in the marketplace but also enables agility in responding to customer needs and market changes. By fostering a culture of innovation and embracing modern practices, we ensure that Mangalam Worldwide is future-ready. Whether it's developing new steel grades, improving process efficiencies, or enhancing safety and sustainability, we are proactively building the capabilities needed to lead in the next era of our industry. These efforts will help us maintain a competitive edge and continue delivering superior value to our customers and stakeholders as we grow.

Optimism for the Future: The future of Mangalam Worldwide Limited is bright and lled with promise. With a clear vision and a dedicated team, I am con dent that we will achieve new heights in the coming years. We will continue to drive forward with a spirit of innovation, a commitment to sustainability, and an unwavering focus on excellence. As we chart our course ahead, our core mission remains the same: to deliver superior quality products, to push the boundaries of what we can achieve through technology and expertise, and to create lasting value for all our stakeholders.

In closing, I would like to express my sincere gratitude to everyone who has been part of our journey. To our shareholders, thank you for your continued trust and support, which motivates us to strive for greater success. To our employees, I am deeply thankful for your hard work, dedication, and ingenuity – you are the driving force behind our achievements and the backbone of this organisation. I also extend my appreciation to our customers for their loyalty, to our business partners, to our bankers and suppliers for their cooperation, and to our Board of Directors for their guidance and vision. We have built a strong culture of collaboration, integrity, and excellence at Mangalam Worldwide, and together we will continue to transform challenges into opportunities and our ambitions into reality.