M & B Engineering Limited (MBEL)

About

M & B Engineering Limited operates in civil construction within the industrials sector. The company has a market capitalisation of ₹1,543.98 Cr with recent quarterly revenues ranging from ₹260–364 Cr, typical of project-based construction. It trades at a PE of 16.03 with an ROE of 19.35%.

Face value: ₹10

Market cap

₹1,437 Cr

P/E

14.9×

P/B

2.2×

Dividend yield

0.4%

ROE

19.3%

ROCE

27.3%

Debt / equity

0.12

OPM

11.2%

EPS (TTM)

₹16.9

Book value

₹115.0

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Margin volatility: Operating margins swung from 7.77% (Jun 2026) to 14.12% (Dec 2025) in recent quarters, indicating project-mix or execution risk

Share price weakness: -35.25% 1-year return and current price (₹270.4) near the 52-week low (₹226.45) suggest sustained selling pressure

Limited institutional participation: FII 0.85% and DII 9.64% combined leave only ~10.5% institutional ownership, potentially constraining liquidity and research coverage

Verify order concentration — project-based construction can depend on few large contracts; confirm pipeline visibility and backlog depth

Generated analysis · source review pending

Growth drivers

D/E ratio of 0.12 provides unused borrowing capacity; verify whether management has announced expansion capex or targeted order wins

Recent quarterly revenues range ₹260–364 Cr; verify order backlog and pipeline depth to confirm whether volatility reflects stable demand or concentrated project cycles

ROE of 19.35% shows capital is deployed above cost of capital; retained earnings could fund organic growth if reinvested

Generated analysis · source review pending

282 historical price candles were omitted because the exchange source has not been verified.

₹251.8+0.1%1Y

Quick read

rule-based

Pros

+High return on capital employed of 24.7%
+Profit CAGR of 77% over the last 3 years
+Revenue CAGR of 22.3% over the last 3 years
+High promoter holding of 70.6% with no pledge

Cons

−Low dividend payout of 5.9% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

76/100

Business quality: 60
Growth: 90
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Larsen & ToubroLTLT	₹5,05,996 Cr	₹6,27,679 Cr	₹2,90,137 Cr	₹28,950 Cr	10.2%	₹16,590 Cr	6.6%	15.4%	15.5%	-142
Rail Vikas Nigam LimitedRVNLRVNL	₹41,075 Cr	₹45,888 Cr	₹20,825 Cr	₹891 Cr	3.8%	₹900 Cr	4.3%	10.2%	9%	66
Kalpataru Projects International LimitedKPILKPIL	₹23,167 Cr	₹26,474 Cr	₹27,380 Cr	₹2,277 Cr	8.3%	₹1,136 Cr	3.8%	20.3%	14.6%	-94
Nbcc (India) LimitedNBCCNBCC	₹20,898 Cr	₹20,898 Cr	₹12,752 Cr	₹656 Cr	4.8%	₹743 Cr	5.8%	29.3%	26.2%	-7,663
Irb Infrastructure Developers LimitedIRBIRB	₹20,533 Cr	₹40,541 Cr	₹7,686 Cr	₹4,182 Cr	52.1%	₹954 Cr	11.1%	6.1%	4.2%	67
Cemindia Projects LimitedCEMPROCEMPRO	₹20,254 Cr	₹21,120 Cr	₹10,185 Cr	₹1,058 Cr	10.2%	₹602 Cr	5.9%	44.8%	28.2%	-110
Engineers India LimitedENGINERSINENGINERSIN	₹17,577 Cr	₹17,577 Cr	₹3,878 Cr	₹750 Cr	17.7%	₹784 Cr	17.6%	28.8%	23.8%	-22
Techno Electric & Engineering Company LimitedTECHNOETECHNOE	₹11,614 Cr	₹11,686 Cr	₹3,356 Cr	₹469 Cr	14.2%	₹431 Cr	14.6%	13.6%	12%	-33
Ircon International LimitedIRCONIRCON	₹10,369 Cr	₹16,033 Cr	₹9,241 Cr	₹771 Cr	8.4%	₹524 Cr	6.5%	7.8%	9.2%	-469
Rites LimitedRITESRITES	₹10,068 Cr	₹10,068 Cr	₹2,458 Cr	₹555 Cr	22.9%	₹417 Cr	18.8%	19.3%	15.4%	-2,276
Welspun Enterprises LimitedWELENTWELENT	₹10,026 Cr	₹11,998 Cr	₹3,544 Cr	₹716 Cr	20.7%	₹308 Cr	10.9%	17.3%	12.5%	-422
Kec International LimitedKECKEC	₹9,912 Cr	₹15,015 Cr	₹23,506 Cr	₹1,599 Cr	7.1%	₹554 Cr	2.6%	23.1%	10.5%	-132

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2022	Mar 2023	Mar 2025	Mar 2026
	688	880	880	1,260
COGS	—	—	—	846
Gross profit	—	—	—	414
	646	814	813	272
	42	67	67	142
OPM %	6.2%	7.6%	7.6%	11.2%
Depreciation	11	10	10	15
Interest	19	19	19	17
	11	9	8	15
Profit before tax	23	46	47	124
Tax	7	13	13	31
Tax %	28.4%	27.6%	27%	25%
	17	33	34	93
PAT margin %	2.4%	3.7%	3.9%	7.4%
EPS (₹)	—	—	—	16.9
EPS adjusted (₹)	—	—	—	16.3
	—	—	—	5.9%

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	20	20	50	50	57
Reserves	125	161	183	257	600
	100	149	205	186	79
	302	230	195	357	425
Total equity & liabilities	547	559	633	849	1,161
	69	78	77	171	176
CWIP	2	2	66	2	14
Investments	6	5	7	5	4
	470	474	483	671	966
Total assets	547	559	633	849	1,161

₹ Cr	Mar 2026
	-26
	-39
	136
Net cash flow	71
Free cash flow	-60
CFO / Operating profit %	-18.4%

Compounded sales growth

7 years: —
5 years: —
3 years: 22%
1 year: 43%

Compounded profit growth

7 years: —
5 years: —
3 years: 77%
1 year: 170%

Return on equity

7 years: —
5 years: —
3 years: 15%
Last year: 14%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2022	Mar 2023	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	32.8%
EBITDA margin %	6.2%	7.6%	7.6%	11.2%
EBIT margin %	4.6%	6.4%	6.5%	10%
PAT margin %	2.4%	3.7%	3.9%	7.4%
Working capital
Receivable days	64	49	80	69
Inventory days	115	78	145	151
Payable days	—	—	—	92
NWC days	—	—	—	128
Leverage
Current ratio	1.4	1.65	1.38	1.92
Debt to EBITDA	2.35	2.24	2.77	0.56
Debt to equity	0.69	0.82	0.61	0.12
Interest coverage	2.2	3.4	3.5	8.2
Asset turnover	1.26	1.58	1.04	1.09
Return ratios
Return on assets %	3.1%	5.9%	4%	8%
Return on capital employed %	19.5%	26.3%	20.4%	27.3%
Return on equity %	11.6%	18.3%	11.2%	14.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	70.45%	70.45%	70.45%	70.54%	70.61%
	6.16%	4.74%	4.25%	2.86%	0.85%
	15.92%	13.46%	10.24%	9.73%	9.64%
Government	0%	0%	0%	0%	0%
	7.47%	11.35%	15.06%	16.87%	18.9%
No. of shareholders	—	31,622	33,487	33,996	33,955

Promoter holding up 0.16 percentage points since Jun 2025.

6 disclosures

Person	Deal	Shares	Value	Holding	Filed
Birju Maheshbhai PatelDirector	BuyMarket Purchase	5,558	₹21.33 L	0.02% → 0.03%	3 Oct 20257(2)
Birju Maheshbhai PatelDirector	BuyMarket Purchase	5,558	₹21.33 L

46 deals · 6 Aug 2025 – 16 Apr 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
16 Apr 2026	ABU DHABI INVESTMENT AUTHORITY	Bulk	BSE	Sell	12,91,565	₹324.50	₹41.91 Cr
16 Apr 2026	360 ONE ASSET MANAGEMENT LIMITED	Bulk	BSE	Buy	6,77,475	₹324.50	₹21.98 Cr
16 Apr 2026	360 ONE ASSET MANAGEMENT LIMITED	Bulk	BSE	Buy	5,88,819	₹324.50	₹19.11 Cr
11 Nov 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	3,85,735	₹450.12	₹17.36 Cr
11 Nov 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	3,80,559	₹444.55	₹16.92 Cr
7 Nov 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	3,85,037	₹497.85	₹19.17 Cr
7 Nov 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	3,56,796	₹487.85	₹17.41 Cr
7 Nov 2025	MATHISYS ADVISORS LLP	Bulk	NSE	Buy	3,12,271	₹498.87	₹15.58 Cr
7 Nov 2025	MATHISYS ADVISORS LLP	Bulk	NSE	Sell	3,12,071	₹497.03	₹15.51 Cr
14 Oct 2025	360 ONE ASSET MANAGEMENT LIMITED	Bulk	NSE	Buy	5,21,620	₹404.41	₹21.09 Cr

1–10 of 46

1 / 5

Mr. Hemant Ishwarlal ModiNon-Executive - Independent Director-Chairperson
Mr. Chirag Hasmukhbhai PatelExecutive Director
Mr. Malav Girishbhai PatelExecutive Director
Mr. Aditya V PatelExecutive Director
Ms. Birva Chirag PatelExecutive Director
Mr. Vipin K PatelNon-Executive - Non Independent Director
Mr. Birju Maheshbhai PatelNon-Executive - Independent Director
Ms. Sonal Vimal AmbaniNon-Executive - Independent Director
Mr. Subir Kumar DasNon-Executive - Independent Director
Mr. Udayan Dileep ChoksiNon-Executive - Independent Director
Mr. Sanjay Shaileshbhai MajmudarNon-Executive - Non Independent Director

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

1

across 1 fund houses

Held by these funds

1.1%

of the company's equity

All mutual funds

5.16%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

1 schemes

		Shares
Portfolio of Kotak Infrastructure & Economic Reform FundNEW	Kotak Mahindra Mutual Fund	6.3 L	16.84	0.68%	1.103%	—

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

30

Offer and rights documents

1

M & B Engineering Limited — PROSPECTUSListing · 4 Aug 2025

Credit ratings

1

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the credit ratings on the bank facilities of the ....19 Aug 2025

Investor Presentation and earnings call

5

Aug 2026Transcript AI Summary PPT REC
May 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

1

Final dividend10 Sept 2026 · ex-date₹1

1

Board meeting to consider results10 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

100 announcementsExport CSV

21 Sept 2026, 10:38 amCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

17 Sept 2026, 5:07 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

17 Sept 2026, 5:04 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

17 Sept 2026, 5:01 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

17 Sept 2026, 4:53 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

17 Sept 2026, 4:48 pmCompany Update

M & B Engineering Ltd - 544470 - Proceedings Of 44Th Annual General Meeting

General PDF

17 Sept 2026, 1:38 pmCompany Update

Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 - Receipt Of EU Certification For Sanand Manufacturing Facility

General PDF

26 Aug 2026, 12:01 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

Date	Category	Subject	Filing
21 Sept 2026, 10:38 am	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
17 Sept 2026, 5:07 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management

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M & B Engineering Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Offer and rights documents

Credit ratings

Investor Presentation and earnings call

Events

Dividends1

Board meetings1

Announcements

Ratio timeline

Dividends1

Board meetings1

Not in the F&O segment

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Announcements

Offer and rights documents

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

1

1

1