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Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹1640 Cr.
Stock P/E
21.3
P/B
2.5
Current Price
₹287.1
Book Value
₹ 115
Face Value
10
52W High
₹535.9
52W Low
₹ 224.9
Dividend Yield
0.35%

M&B Engineering Overview

Business

M&B Engineering Ltd. is an Indian company primarily engaged in the manufacturing and supply of a wide range of industrial equipment, largely focused on the infrastructure and construction sectors. Its core business involves designing, producing, and distributing machinery such as Asphalt Plants, Wet Mix Macadam Plants, Bitumen Sprayers, Road Sweepers, Crusher Plants, and Concrete Batching Plants. The company also provides after-sales services, including spare parts and technical support. It operates on a business-to-business (B2B) model, selling equipment to construction companies, infrastructure developers, and related enterprises. The company generates revenue through the sale of new equipment, spare parts, and service contracts.

Revenue Mix

While specific revenue percentages are not publicly disclosed, M&B Engineering Ltd.'s business operations can be broadly segmented based on its product categories:

Road Construction Equipment: Includes Asphalt Plants, Wet Mix Macadam Plants, and Bitumen Sprayers.

Material Processing & Handling Equipment: Primarily Crusher Plants for aggregates.

Concrete & Batching Equipment: Concrete Batching Plants.

Ancillary Equipment & Services: Road Sweepers, spare parts, and after-sales support.

The primary revenue drivers are likely the sale of new equipment, particularly road construction and crushing machinery, followed by recurring revenue from spare parts and services.

Industry

M&B Engineering Ltd. operates in the highly competitive Indian industrial equipment sector, specifically within the construction and road-building machinery market. This industry is largely driven by government infrastructure spending, private sector investments in construction, and mining activities. The market includes both large international players (e.g., Caterpillar, Komatsu, Volvo CE) and numerous domestic manufacturers. M&B Engineering Ltd. likely positions itself as a domestic player offering a range of equipment, potentially focusing on cost-effectiveness, local manufacturing, customized solutions, and a strong service network within India, catering to small to mid-sized contractors as well as larger projects. Its long-standing presence in specific niches like asphalt plants could give it recognition within those segments.

MOAT

M&B Engineering Ltd.'s potential competitive advantages are likely to stem from:

Local Market Understanding & Customization: Ability to design and manufacture equipment suited for Indian operating conditions and customer requirements.

Established Brand & Relationships: A presence of several decades in the Indian market might have built recognition and trust among a certain customer base, fostering repeat business.

Distribution & Service Network: A localized sales and service network across India for heavy machinery can be a significant advantage, reducing downtime for customers and ensuring timely support.

Cost Efficiency: As a domestic manufacturer, it might achieve cost advantages over imported machinery, making its products more accessible to a wider range of customers.

However, it may not possess the global scale, advanced R&D budgets, or proprietary technology of larger international competitors.

Growth Drivers

Key factors that can drive M&B Engineering Ltd.'s growth over the next 3-5 years include:

Government Infrastructure Push: Continued high capital expenditure by the Indian government on road construction, highways, ports, and smart cities.

Urbanization & Industrialization: Growing demand for housing, commercial infrastructure, and industrial facilities across India.

Replacement Demand: Modernization and replacement cycles for existing equipment by contractors.

Technological Upgrades: Adoption of more efficient, automated, and environmentally compliant equipment.

Export Expansion: Potential to expand sales to other developing economies in South Asia, Africa, or the Middle East.

Risks

Cyclicality of Infrastructure Spending: The company's performance is highly dependent on government and private sector investment cycles in infrastructure, which can be volatile.

Intense Competition: Facing competition from both well-established global players and other domestic manufacturers can lead to pricing pressure and margin erosion.

Raw Material Price Volatility: Fluctuations in prices of key raw materials like steel and other components can impact manufacturing costs and profitability.

Working Capital Management: The business often requires significant working capital to manage inventory and customer credit, especially for large projects.

Technological Obsolescence: Failure to innovate or adopt new technologies quickly could lead to a loss of competitiveness.

Regulatory Changes: New environmental norms or safety standards could necessitate costly upgrades to products or manufacturing processes.

Management & Ownership

M&B Engineering Ltd. is typically promoted by a founding family or a core group of entrepreneurs, a common structure among Indian SMEs. The promoters and key management personnel generally hold a significant stake, indicating alignment with shareholder interests. The quality of management is often reflected in the company's ability to navigate industry cycles, expand its product portfolio, and maintain profitability in a competitive environment. Specific details about individual management members' track records or qualifications would require further investigation.

Outlook

M&B Engineering Ltd. is positioned to benefit from India's sustained focus on infrastructure development, which is expected to drive demand for construction and industrial equipment. The company's local manufacturing base and established presence could allow it to capture a share of this growing market, particularly if it continues to offer cost-effective and reliable solutions with strong after-sales support. However, its growth trajectory will be subject to the inherent cyclicality of the construction sector, intense competition from larger domestic and international players, and its ability to manage input cost volatility and technological advancements. The company's performance will hinge on its capacity to innovate, maintain competitive pricing, and effectively manage its distribution and service network.

M&B Engineering Share Price

Live · BSE / NSE · Inception: 1981
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Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

M&B Engineering Quarterly Results

#(Fig in Cr.) Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Net Sales 140 207 328 314 238 307 352 364
Other Income 3 2 1 2 4 2 4 5
Total Income 143 209 329 316 242 309 355 369
Total Expenditure 127 168 296 272 208 272 312 326
Operating Profit 16 41 34 44 34 37 44 43
Interest 5 5 4 5 6 4 4 3
Depreciation 2 3 3 4 4 4 4 4
Exceptional Income / Expenses 0 0 0 0 0 0 -1 0
Profit Before Tax 9 32 26 35 24 29 35 36
Provision for Tax 2 8 8 6 6 7 9 9
Profit After Tax 7 24 18 29 18 22 25 27
Adjustments 0 0 0 0 0 0 0 0
Profit After Adjustments 7 24 18 29 18 22 25 27
Adjusted Earnings Per Share 1.4 4.8 3.5 5.7 3.6 3.9 4.5 4.7

M&B Engineering Profit & Loss

#(Fig in Cr.) Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 520 415 688 880 795 989 1261
Other Income 5 8 11 9 13 8 15
Total Income 525 422 699 889 808 997 1275
Total Expenditure 483 388 646 814 715 862 1118
Operating Profit 42 34 53 75 93 135 158
Interest 17 16 19 19 23 20 17
Depreciation 9 9 11 10 9 13 16
Exceptional Income / Expenses 0 0 0 0 0 0 -1
Profit Before Tax 17 10 23 45 61 102 124
Provision for Tax 6 4 7 13 15 25 31
Profit After Tax 11 6 16 33 46 77 92
Adjustments 0 0 4 1 0 0 0
Profit After Adjustments 11 6 20 34 46 77 92
Adjusted Earnings Per Share 2.1 1.2 4 6.8 9.2 15.4 16.7

M&B Engineering Balance Sheet

#(Fig in Cr.) Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 120 125 145 181 233 307
Minority's Interest 0 4 0 -1 0 0
Borrowings 62 71 66 89 44 54
Other Non-Current Liabilities 7 7 7 6 5 10
Total Current Liabilities 238 215 329 284 352 478
Total Liabilities 426 423 547 559 633 849
Fixed Assets 68 70 71 79 77 176
Other Non-Current Assets 10 13 15 12 77 12
Total Current Assets 349 340 462 468 479 661
Total Assets 426 423 547 559 633 849

M&B Engineering Cash Flow

#(Fig in Cr.) Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 13 66 51 51 98 73
Cash Flow from Operating Activities 48 8 37 29 6 36
Cash Flow from Investing Activities -4 -9 -2 -12 -62 -34
Cash Flow from Financing Activities 9 -13 -33 30 32 -45
Net Cash Inflow / Outflow 53 -15 1 47 -25 -44
Closing Cash & Cash Equivalent 66 51 51 98 73 30

M&B Engineering Ratios

# Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 2.15 1.18 4.01 6.82 9.17 15.41
CEPS(Rs) 3.87 2.92 5.38 8.64 10.9 17.91
DPS(Rs) 0 0 0 0 0 0
Book NAV/Share(Rs) 23.91 25.09 29.02 36.1 46.61 61.31
Core EBITDA Margin(%) 7.18 6.45 6.08 7.54 10.01 12.78
EBIT Margin(%) 6.43 6.18 6.1 7.34 10.56 12.36
Pre Tax Margin(%) 3.22 2.44 3.34 5.17 7.66 10.34
PAT Margin (%) 2.06 1.42 2.37 3.74 5.74 7.79
Cash Profit Margin (%) 3.73 3.52 3.91 4.91 6.86 9.06
ROA(%) 2.52 1.38 3.36 5.95 7.66 10.4
ROE(%) 8.98 4.79 12.06 20.2 22.07 28.56
ROCE(%) 14.3 10.84 17.35 22.53 21.88 26.26
Receivable days 66.11 81.95 56.21 49.59 59.26 61.17
Inventory Days 90.06 112.7 87.84 78.39 85.03 95.66
Payable days 156.61 181 127.58 101.27 81.26 97.63
PER(x) 0 0 0 0 0 0
Price/Book(x) 0 0 0 0 0 0
Dividend Yield(%) 0 0 0 0 0 0
EV/Net Sales(x) 0.08 0.12 0.04 0.05 0.2 0.15
EV/Core EBITDA(x) 1.03 1.43 0.52 0.58 1.68 1.12
Net Sales Growth(%) 0 -20.29 66.03 27.93 -9.7 24.34
EBIT Growth(%) 0 -23.42 63.68 54.15 29.81 45.57
PAT Growth(%) 0 -45.32 177.98 101.63 38.74 68.84
EPS Growth(%) 0 -44.99 239.77 69.95 34.52 68.01
Debt/Equity(x) 0.96 0.9 0.69 0.82 0.88 0.61
Current Ratio(x) 1.47 1.58 1.4 1.65 1.36 1.38
Quick Ratio(x) 0.93 0.99 0.78 1.03 0.81 0.71
Interest Cover(x) 2 1.65 2.21 3.37 3.64 6.12
Total Debt/Mcap(x) 0 0 0 0 0 0

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +24% +13% +14%
Operating Profit CAGR +45% +37% +26%
PAT CAGR +67% +69% +48%
Share Price CAGR
ROE Average +29% +24% +18% +16%
ROCE Average +26% +24% +20% +19%

M&B Engineering Shareholding Pattern

Latest · Mar 2026
100% held
Promoters 70.54 %
FII 2.86 %
DII (MF + Insurance) 9.73 %
Public (retail) 29.46 %
# Jun 2025 Aug 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 70.4570.4570.4570.4570.54
FII 6.166.164.744.252.86
DII 15.0315.0313.4610.249.73
Public 29.5529.5529.5529.5529.46
Others 00000
Total 100100100100100

M&B Engineering Peer Comparison

Engineering - Industrial Equipments Edit Columns

M&B Engineering Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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M&B Engineering Pros & Cons

Pros

  • Company has delivered good profit growth of 47% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 24%

Cons

  • Debtor days have increased from 81.26 to 97.63days.
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