Mangalam Global Enterprise is the agricultural arm of an 80-year-old Indian business group, built on a simple idea: buy, process and sell the commodities that kitchens and factories run on - edible oils, castor oil, cotton, wheat and rice. It started in 1942 in Beawar, Rajasthan, trading paper and chemicals, then moved into manufacturing dyes before the group’s structured trade business crystallised under the Mangalam name. The recurring approach is forward integration - taking a raw commodity, crushing or refining it in-house, and then pushing further downstream into branded consumer products, using the cash flows of the trading and processing engine to fund each new step. # Business segments Three engines at different stages - a commodity processing and trading core that does the heavy lifting, a branded edible-oil play that reaches kitchen shelves, and a young wellness brand that turns the same oilseeds into nutraceuticals and personal care - each built on the crushing capacity and sourcing muscle of the one before. ## 1. Agri-commodity processing and trading: the factory floor and the merchant desk **The company crushes oilseeds, gins cotton and mills wheat and rice across four Gujarat plants, then sells the output in bulk to industrial buyers and export markets - a working-capital-heavy, high-volume business where the margin lives in the spread between raw seed and processed commodity.** - **Four plants, three crops** - the company runs a castor-oil complex at Kapadvanj (500 tonnes of seed crushed per day, plus refining and solvent extraction), a cotton ginning and pressing unit at the same site (150 tonnes per day), a wheat and rice processing unit at Bavla, Sanand, and an edible-oil refinery and crushing plant at Jotana, Mehsana, acquired in FY25 and running since January 2025. - **Castor is the global differentiator** - the Kapadvanj plant produces refined castor oil (FSG grade), de-oiled cake and high-protein de-oiled cake, feeding a worldwide market projected to grow from roughly USD 980 million to nearly USD 1.4 billion over the next decade. - **Bought, not just built** - the Kapadvanj castor and cotton units were acquired through an NCLT-approved resolution plan in 2022, and the Jotana refinery was bought from a third party, so capacity came with existing machinery and land rather than being developed from scratch. - **Seasonal raw material, in-house quality control** - the key inputs are castor seeds and raw cotton, whose availability follows the harvest cycle, and every plant has its own testing laboratory to check raw materials and finished product before dispatch. - **Trading fills the gaps** - alongside its own manufacturing, the company trades domestically and exports wheat, rice and other agricultural products, which keeps its sourcing network active and its working capital deployed even when its own plants are not crushing. ## 2. LAGNAM edible oils: the branded kitchen staple **Under the LAGNAM label, the company bottles refined soybean oil, refined vegetable oil and pungent mustard oil and sells them directly to consumers - turning a bulk commodity into a branded product with a retail price tag.** - **Launched on the back of its own refineries** - the brand was introduced in April 2022, once the company had refining capacity in place, so the oil that goes into a LAGNAM bottle is processed in-house rather than sourced from a third party. - **Three SKUs, everyday cooking** - the range is deliberately narrow: Refined Soyabean Oil, Refined Vegetable Oil and Pungent Mustard Oil, covering the three largest edible-oil categories in Indian kitchens. - **Mustard and soybean are large, steady markets** - the mustard-oil market was estimated at about USD 22 billion in 2020 and growing at close to 4% a year, while the global soybean-oil market was valued at roughly USD 55 billion in 2025, giving the brand a deep pool of demand to draw on. ## 3. Neat Everyday: the wellness and personal-care bet **Neat Everyday takes the same oilseeds the company already crushes - castor, mustard, coconut, sesame - cold-presses them into premium oils, and packages them alongside Ayurvedic supplements and vegan soft gels, sold through its own website, quick-commerce platforms and a growing chain of company-owned stores.** - **Cold-pressed oils are the bridge** - the range includes castor, yellow mustard, extra-virgin coconut, black sesame, pistachio, almond and walnut oils, all positioned for nutritional and personal-care use rather than cooking, which lifts them out of commodity pricing. - **Supplements built around Ayurvedic pairings** - the nutraceutical line combines herbs like ashwagandha, triphala, brahmi and turmeric with A2 ghee in soft capsules, alongside vegan omega and garlic-oil capsules, targeting the intersection of traditional knowledge and modern formats. - **Omnichannel from day one** - products are sold on the brand’s own site, on Amazon, Flipkart, Meesho, JioMart and Blinkit, and through exclusive retail stores that reached Ahmedabad, Mumbai and Indore by mid-2026, with a plan to hit 100 outlets by March 2028. - **Made in the same Jotana plant** - the cold-pressed oils and related products are processed at the company’s own Gujarat facility, so the brand uses existing manufacturing infrastructure rather than requiring a separate factory. - **India’s nutraceutical market is the tailwind** - the domestic market was estimated at roughly USD 39 billion in 2025 and projected to more than double to about USD 85 billion by 2033, growing at over 10% a year, which gives a young brand room to scale. # Group structure and partners **The company sits inside an 80-year-old family group and has recently spun out separate subsidiaries for its wellness brand, organic products and oleochemicals, while maintaining a Singapore trading hub and a newly formed Dubai entity for international operations.** - **Part of Group Mangalam** - the group also includes Mangalam Worldwide Limited, a stainless-steel pipes and tubes manufacturer with its own melting shop, and has historically operated in dyes, chemicals and structured trade. - **Three subsidiaries as of March 2026** - these include Mangalam Global (Singapore) for wholesale trade (turnover of about Rs 205 crore in FY25), MGEL Multicomm for broader agri and metals trading, Mangalam Neat Everyday for the wellness brand, Mangalam Vanasya Organic (55% held) for organic and ayurvedic products, Mangalam Oleo Speciality Products for vegetable-oil derivatives and oleochemicals, and Mangalam Global General Trading FZE in Dubai for international operations, though the last three were yet to commence business. - **No joint ventures or technical collaborations** - the company has not entered into any tie-ups or partnerships of that kind, keeping its operations and intellectual property fully in-house. - **Banking relationships with four large lenders** - HDFC Bank, State Bank of India, Punjab National Bank and Canara Bank provide the working-capital lines that a commodity business depends on.