Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹349 Cr.
Stock P/E
-15.4
P/B
0.4
Current Price
₹22.4
Book Value
₹ 61.2
Face Value
10
52W High
₹43.3
52W Low
₹ 17.5
Dividend Yield
0%

MBL Infrastructures Overview

Business

MBL Infrastructure Ltd. is an Indian engineering, procurement, and construction (EPC) company primarily engaged in infrastructure development. Its core business involves the construction and maintenance of roads and highways, including various types of civil construction work. The company operates on a project basis, securing contracts from government bodies and other clients through tenders. It makes money by executing these projects within agreed timelines and budgets, receiving payments based on work progress and milestones achieved.

Revenue Mix

MBL Infrastructure primarily operates within a single broad segment: "Infrastructure Development and Construction." While specific revenue breakdowns by project type (e.g., roads, buildings, other civil works) are not consistently reported in granular detail, its historical focus has been heavily on road and highway construction projects across India.

Industry

The Indian engineering and construction sector is vast, highly competitive, and largely driven by government infrastructure spending. It's characterized by numerous players ranging from large, diversified conglomerates to mid-sized and regional specialists. MBL Infrastructure typically positions itself as a mid-tier player, competing for central and state government contracts, particularly in the road and highway segment. Its standing in the industry has been impacted by past financial challenges, leading to a need to re-establish its execution capabilities and financial health against more robust and larger peers.

MOAT

The construction sector inherently offers limited durable competitive advantages due to project-based work and intense price competition. MBL Infrastructure's potential advantages, though not strong moats, include:

Execution Capabilities: A track record, even if marred by past issues, in successfully delivering certain types of projects.

Client Relationships: Maintaining relationships with government agencies that frequently tender infrastructure projects.

Geographic Reach: Experience operating across various regions in India.

However, these are often replicable, and the company currently operates without a significant, sustainable competitive moat.

Growth Drivers

Government Focus on Infrastructure: Continued strong emphasis by the Indian government on infrastructure development (roads, highways, rural connectivity, smart cities) through large budgetary allocations.

Order Book Acquisition: Ability to successfully bid for and secure new projects from central and state governments.

Operational Efficiency: Improvement in project execution, cost management, and timely completion to enhance profitability.

Economic Revival: Overall economic growth in India can drive demand for new infrastructure projects.

Financial Restructuring Success: The successful implementation of its resolution plan and effective capital management under new ownership.

Risks

Project Execution Risks: Delays in project completion, cost overruns, inability to acquire necessary approvals, land acquisition issues, and subcontractor performance.

Financial Health & Liquidity: Legacy debt burdens, challenges in securing adequate working capital and project financing, and ability to service existing obligations post-resolution.

Intense Competition: Aggressive bidding by numerous players can depress profit margins for new projects.

Dependence on Government Policy: Vulnerability to changes in government spending priorities, economic downturns affecting public finances, and delays in tender processes or payments.

Regulatory & Environmental Risks: Changes in environmental regulations, licensing requirements, and other compliance issues.

Arbitration & Legal Disputes: Common in the construction sector, these can lock up capital and impact cash flows.

Management Turnaround Success: The company recently underwent a Corporate Insolvency Resolution Process (CIRP). The success of the approved resolution plan and the new management's ability to revitalize operations and financial performance is a significant risk factor.

Management & Ownership

MBL Infrastructure Ltd. has undergone a significant change in its management and ownership structure. Following a successful Corporate Insolvency Resolution Process (CIRP), a new Resolution Plan was approved, leading to a change in control and management. This means the original promoters' shareholding has been significantly diluted, and the company is now being managed by a new board and team aligned with the resolution applicant. The quality of the new management will be assessed based on their ability to stabilize operations, execute the resolution plan effectively, resolve legacy issues, and drive future growth.

Outlook

MBL Infrastructure is in a critical phase following its Corporate Insolvency Resolution Process. The outlook is balanced, presenting both opportunities and significant challenges. The positive sentiment stems from India's robust infrastructure push, which provides a large addressable market for construction companies. The successful implementation of the resolution plan and the entry of new management offer a chance for a fresh start, potential stabilization of finances, and renewed focus on operational execution. However, the company faces substantial hurdles, including a history of financial distress, the need to shed legacy issues, re-establish credibility with clients and lenders, and compete fiercely in a cut-throat industry. Its future success hinges on the new management's ability to swiftly execute projects, maintain financial discipline, and secure a healthy order book while navigating a challenging competitive and economic landscape.

MBL Infrastructures Share Price

Live · BSE / NSE · Inception: 1995
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

MBL Infrastructures Quarterly Results

#(Fig in Cr.) Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Net Sales 24 34 33 30 31 28 50 51 52 38
Other Income 29 34 41 33 12 35 36 15 57 20
Total Income 53 68 74 64 43 63 86 66 109 57
Total Expenditure 44 60 68 71 38 50 71 52 46 27
Operating Profit 9 8 6 -7 4 13 15 14 63 30
Interest 6 7 8 8 38 12 12 10 5 5
Depreciation 14 16 14 16 14 14 12 14 14 14
Exceptional Income / Expenses 0 238 40 0 -0 -0 17 0 -0 -0
Profit Before Tax -11 224 24 -31 -48 -12 8 -10 44 11
Provision for Tax -0 0 -0 -0 -1 0 -0 -0 53 16
Profit After Tax -11 224 24 -31 -47 -12 8 -9 -8 -5
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments -11 224 24 -31 -47 -12 8 -9 -8 -5
Adjusted Earnings Per Share -1.1 20.4 2 -2.6 -3.9 -0.8 0.5 -0.6 -0.6 -0.3

MBL Infrastructures Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
Net Sales 2343 2281 511 154 213 203 164 159 122 128 176 191
Other Income 20 39 66 87 103 120 96 142 131 120 96 128
Total Income 2363 2320 577 241 316 322 260 301 253 248 272 318
Total Expenditure 2080 2260 456 224 267 99 133 102 70 83 68 196
Operating Profit 283 60 121 17 49 223 128 199 184 165 203 122
Interest 138 159 250 19 67 162 116 178 160 214 136 32
Depreciation 33 27 23 20 55 96 67 72 63 61 54 54
Exceptional Income / Expenses 0 0 164 -284 285 9 0 0 0 278 17 17
Profit Before Tax 112 -126 12 -306 212 -25 -55 -51 -39 169 30 53
Provision for Tax 25 -61 -7 -42 -53 -88 -55 -0 -0 -1 52 69
Profit After Tax 87 -64 19 -264 265 63 0 -51 -39 169 -23 -14
Adjustments 0 0 4 0 0 0 0 0 0 0 0 0
Profit After Adjustments 87 -64 23 -264 265 63 0 -51 -39 169 -23 -14
Adjusted Earnings Per Share 21 -15.5 5.5 -25.2 25.3 6.1 0 -4.8 -3.8 13.8 -1.5 -1

MBL Infrastructures Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Shareholder's Funds 742 675 695 491 757 820 836 786 747 948 956
Minority's Interest 0 26 11 0 0 0 0 0 0 0 0
Borrowings 615 639 1197 1299 1085 1061 977 961 901 639 683
Other Non-Current Liabilities 61 95 572 586 338 344 280 278 245 199 200
Total Current Liabilities 1356 1699 476 627 698 703 773 781 843 1062 1012
Total Liabilities 2773 3134 2952 3003 2878 2928 2866 2806 2736 2849 2851
Fixed Assets 247 224 180 964 910 837 770 698 683 633 579
Other Non-Current Assets 842 2281 2493 1786 1725 1771 1704 1739 1723 1906 2008
Total Current Assets 1684 629 279 253 243 320 392 369 330 310 265
Total Assets 2773 3134 2952 3003 2878 2928 2866 2806 2736 2849 2851

MBL Infrastructures Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Opening Cash & Cash Equivalents 66 -5 4 5 1 9 20 41 32 25 18
Cash Flow from Operating Activities 102 -322 83 277 -6 34 -16 77 48 40 82
Cash Flow from Investing Activities -337 -78 -60 -78 -13 -26 -16 -11 1 -8 5
Cash Flow from Financing Activities 164 392 -22 -203 27 3 52 -74 -57 -38 -54
Net Cash Inflow / Outflow -71 -8 0 -3 8 11 21 -8 -8 -6 33
Closing Cash & Cash Equivalent -5 -13 5 1 9 20 41 32 25 18 52

MBL Infrastructures Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Earnings Per Share (Rs) 20.95 -15.49 5.47 -25.19 25.32 6.05 0.01 -4.82 -3.75 13.83 -1.48
CEPS(Rs) 28.95 -8.92 10.07 -23.3 30.53 15.19 6.42 2.07 2.27 18.77 2.08
DPS(Rs) 1.5 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 178.94 162.79 167.75 46.9 72.23 78.29 79.85 75.03 71.29 77.4 62.68
Core EBITDA Margin(%) 11.2 0.93 10.72 -45.61 -25.46 51.1 19.39 36.1 43.12 35.12 61.15
EBIT Margin(%) 10.65 1.45 51.29 -186.17 131 67.5 37.01 79.65 98.64 298.48 93.97
Pre Tax Margin(%) 4.77 -5.5 2.37 -198.23 99.68 -12.15 -33.45 -31.84 -32.21 131.57 16.93
PAT Margin (%) 3.71 -2.81 3.74 -171.19 124.66 31.25 0.08 -31.69 -32.13 132.08 -12.83
Cash Profit Margin (%) 5.12 -1.62 8.18 -158.34 150.32 78.43 40.91 13.57 19.4 179.24 18
ROA(%) 3.48 -2.17 0.63 -8.86 9.02 2.18 0 -1.78 -1.42 6.07 -0.79
ROE(%) 12.42 -9.06 2.79 -44.47 42.51 8.04 0.02 -6.23 -5.13 20 -2.37
ROCE(%) 12.68 1.38 11.19 -14.34 14.15 6.71 2.96 6.4 6.51 20.78 8.6
Receivable days 81.53 71.39 123.2 236.4 145.78 112.47 118.33 207.32 358.54 324.69 224.77
Inventory Days 120.62 61.03 11.22 14.3 9.83 8.62 8.25 7.56 7.14 4.15 2.24
Payable days 41.73 29 798.67 473.85 971.09 531.1 879.08 502.62 209.26 273.95 211.05
PER(x) 7.31 0 3.53 0 0.1 3.31 1906.25 0 0 3.28 0
Price/Book(x) 0.86 0.28 0.12 0.28 0.04 0.26 0.31 0.2 0.76 0.59 0.31
Dividend Yield(%) 0.98 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 0.87 0.93 2.85 10.18 5.97 7.07 8.63 7.91 12.9 11.62 6.98
EV/Core EBITDA(x) 7.2 35.02 12.03 94.76 26.1 6.43 11.09 6.33 8.59 9.03 6.05
Net Sales Growth(%) 19.42 -2.62 -77.61 -69.82 38.03 -4.67 -18.95 -3.04 -23.2 4.82 37.21
EBIT Growth(%) 10.39 -86.76 692.58 -209.55 197.12 -50.88 -55.57 108.67 -4.88 217.19 -56.8
PAT Growth(%) 6.45 -173.9 129.74 -1481.95 200.51 -76.1 -99.79 0 22.14 530.92 -113.33
EPS Growth(%) 6.45 -173.9 135.34 -560.24 200.51 -76.1 -99.79 0 22.14 468.4 -110.71
Debt/Equity(x) 1.93 2.87 1.98 2.92 1.66 1.52 1.44 1.45 1.39 1.01 1.03
Current Ratio(x) 1.24 0.37 0.59 0.4 0.35 0.46 0.51 0.47 0.39 0.29 0.26
Quick Ratio(x) 0.7 0.36 0.57 0.39 0.34 0.45 0.5 0.47 0.39 0.29 0.26
Interest Cover(x) 1.81 0.21 1.05 -15.45 4.18 0.85 0.53 0.71 0.75 1.79 1.22
Total Debt/Mcap(x) 2.26 10.27 17.24 10.55 45.67 5.95 4.71 7.37 1.83 1.72 3.37

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +38% +3% -3% -23%
Operating Profit CAGR +23% +1% -2% -3%
PAT CAGR -114% — 0% 0%
Share Price CAGR -49% -9% 0% -14%
ROE Average -2% +4% +1% +2%
ROCE Average +9% +12% +9% +7%

MBL Infrastructures Shareholding Pattern

Latest · Jun 2026
100% held
Promoters 74.57 %
FII 0 %
DII (MF + Insurance) 0.42 %
Public (retail) 25.01 %
# Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Promoter 67.468.8571.4571.4569.7474.0174.0174.0174.5774.57
FII 00.0400.040.040.020.020.0100
DII 0000.540.530.430.4300.420.42
Public 32.631.1128.5527.9729.6825.5425.5425.9825.0125.01
Others 0000000000
Total 100100100100100100100100100100

MBL Infrastructures Peer Comparison

Engineering - Construction Edit Columns

MBL Infrastructures Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

See more…

MBL Infrastructures Pros & Cons

Pros

  • Stock is trading at 0.4 times its book value
  • Debtor days have improved from 273.95 to 211.05days.

Cons

  • Company has a low return on equity of 4% over the last 3 years.
  • Earnings include an other income of Rs. 96 Cr.
Want to Start Investing in Top Unlisted Stocks?

Our experts help you choose the right stocks based on performance, risk, and growth potential.

whatsapp