Ahmedabad-based Mangalam Worldwide Ltd, a manufacturer of stainless steel products, has incorporated a wholly owned subsidiary, MWL Europe BV, in Belgium on October 1 as part of its strategy to expand its international presence and explore opportunities in the European market.
The company has received the certificate of incorporation from the relevant authorities. MWL Europe BV will undertake activities aligned with Mangalam Worldwide’s existing business operations and support its long-term overseas growth strategy.
New subsidiary to strengthen European reach
The subsidiary has been incorporated through 100% subscription to its share capital by Mangalam Worldwide, with the investment made through cash.
The company said the new entity will help strengthen customer outreach, enhance operational efficiencies and facilitate the exploration of new business opportunities in European markets.
Exports expand across global markets
Mangalam Worldwide’s total income increased 14% to ₹1,215 crore in FY26 from ₹1,066 crore in the previous year, while net profit rose 70% to ₹50 crore, Chairman Vipin Prakash Mangal said in the latest annual report.
The company said the growth was broad-based, with revenue increasing 21% in the first quarter, 33% in the second and 29% in the third quarter, accompanied by faster profit growth and improving operating leverage.
Focus on value-added products
Exports grew more than 100% year-on-year in some of the company’s strongest quarters as it deepened relationships across the 20 countries it serves.
Its export markets span Asia, Africa, the Middle East, Europe, Russia and the Americas, providing a wider base for the company’s international expansion.
Manufacturing capacity expands
Mangalam Worldwide has continued to modernise its four stainless steel manufacturing facilities in Gujarat, which together have cumulative integrated capacity of more than 190,000 tonnes a year.
The facilities cover melting, rolling, bright bar and finishing operations, as well as mother hollow piercing and seamless pipe and tube manufacturing.
Mangalam Tubicore targets tubular products
The company is also sharpening its focus on value-added and higher-margin product categories that command stronger realisations than commodity-grade output.
Mangalam Tubicore is the company’s brand for tubular products, including seamless and welded pipes and tubes, forming part of its broader value-added stainless steel portfolio.
The incorporation of MWL Europe BV is expected to complement these capabilities by providing a platform for customer engagement and business development in the European market.