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15 Days Price Change

M&B Engineering IPO

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Profile
Issue Size 377.23 Cr
Profile
Price Range 366  to  385 per share
Profile
Min Investment ₹385
Profile
Lot Size 1
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Face Value ₹10
Profile
Draft Prospectus
Invest Before the IPO Goes Live

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Profile
  • Basic Info
  • IPO Tentative Timetable
  • IPO Lot Size
  • Subscription Status
  • Financials
  • Profit & Loss
  • Balance Sheet
  • Cash Flow
  • Ratios
  • Growth Rates
  • Other info

Overview

We are one of the India’s leading Pre-Engineered Buildings (“PEBs”) and Self-Supported Roofing provider in terms of installed capacity (103,800 MTPA related to PEB and 1,800,000 square metres per annum for Self-Supported Roofing) as on August 31, 2024. (Source: CRISIL Report). As of Fiscal 2024, we are the largest player in terms of revenue for the manufacturing and installation of self-supported steel roofing solutions in India with a market share of 75% (Source: CRISIL Report). As per the CRISIL Report, amongst the considered peers, we registered one of the highest OPBDIT and PAT CAGRs between Fiscals 2022 and 2024 of 38.0% and 67.3% respectively. Our business is structured into (a) Phenix division which provides comprehensive solutions for PEBs and complex structural steel components; and (b) Proflex division which provides self-supported steel roofing solutions. We offer our customers comprehensive turn-key solutions which includes project design, engineering, manufacturing and erection in accordance with customer requirements across industrial and infrastructure segments. We have delivered solutions for our customers engaged in diverse sectors including general engineering and manufacturing, food and beverages, warehousing and logistics, power, textiles, and railways. We have undertaken execution of over 8,700 projects until the end of June 2024 under our Phenix and Proflex Divisions. Read More

Basic Info

Face Value 10 per share

Price 366  to  385 per share

P/E (x) 25

Sales( Cr.) 989

PAT( Cr.) 77

EPS 15.4

Draft Prospectus

Exchange BSE-NSE

Promoter

Company Promoters

Girishbhai Manibhai Patel Chirag Hasmukhbhai Patel Malav Girishbhai Patel Birva Chirag Patel Vipinbhai Kantilal Patel Aditya Vipinbhai Patel Leenaben Vipinbhai Patel Chirag H Patel Family Trust Vipin K Patel Family Trust MGM5 Family Trust MGM11 Family Trust Aditya V Patel Family Trust

Pre Issue Share Holding 100%

Post Issue Share Holding 70.45%

Listing Details:

Listing Price: 386

Listing Gain: 0.26%

Current Price: 298.5

Gain On Issue: 298.5 | 0%

GMP: --

GMP %: -- %

IPO Tentative Timetable

Opening Date Jul 30, 2025
Closing Date Aug 01, 2025
Allotment Aug 04, 2025
Refund Aug 05, 2025
Delivery of Shares Aug 05, 2025
Listing Date Aug 06, 2025

IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 38 14,630
Retail (Max) 13 494 190,190
S-HNI (Min) 14 532 204,820
S-HNI (Max) 68 2584 994,840
B-HNI (Min) 69 2622 1,009,470

Objective of the Issue

1. Funding the capital expenditure requirements for the purchase of equipment and machinery, building works, solar rooftop grid and transport vehicles at our Manufacturing Facilities.2. Investment in information technology (“IT”) software upgradation by our Company.3. Re-payment or pre-payment of term loans, in full or in part, of certain borrowings availed by our Company.4. General corporate purposes.

Issue

Category Nos Bid Bid (x)
QIB 5311475 195038078 36.7x
NII 2655737 101562106 38.2x
Retail 1770491 57625860 32.5x
EMP 60606 492936 8.1x
Total 9798309 354718980 36.2x

Net Sales (in cr.)

Total Income (in cr.)

Operating Profit (in cr.)

Net Profit (in cr.)

Shareholder Funds (in cr.)

Total Assets (in cr.)

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
Other Income 5 8 11 9 13 8
Total Income 525 422 699 889 808 997
Total Expenditure 483 388 646 814 715 862
Operating Profit 42 34 53 75 93 135
Interest 17 16 19 19 23 20
Depreciation 9 9 11 10 9 13
Exceptional Income / Expenses 0 0 0 0 0 0
Profit Before Tax 17 10 23 45 61 102
Provision for Tax 6 4 7 13 15 25
Profit After Tax 11 6 16 33 46 77
Adjustments 0 0 4 1 0 0
Profit After Adjustments 11 6 20 34 46 77
Adjusted Earnings Per Share 2.1 1.2 4 6.8 9.2 15.4

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

Sihora Industries Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 24% 13% 14% 0%
Operating Profit CAGR 45% 37% 26% 0%
PAT CAGR 67% 69% 48% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR NA% NA% NA% NA%
ROE Average 29% 24% 18% 16%
ROCE Average 26% 24% 20% 19%

Company Contact Information

M&B Engineering Ltd.

Palak Dilipbhai Parekh

+91 79- 26463784

compliance@mbel.in

M B House 51 , Chandrodaya Society Opp Golden Triangle Stadium Road Post Navjivan

IPO Lead Manager(s)

M&B Engineering Ltd.

Equirus Capital Pvt Ltd

Dam Capital Advisors Ltd. (Formerly IDFC Securities Ltd.)

Registrar Info

M&B Engineering Ltd.

MUFG Intime India Pvt Ltd.

C 101, 247 Park, LBS Marg, Vikhroli (W), Mumbai (Old Address:) C-13 Pannalal Silk Compound, L B S Marg, Bhandup Mumbai Maharashtra

+91 810 811 8484

91-022-49186060

rnt.helpdesk@in.mpms.mufg.com

https://in.mpms.mufg.com/

Frequently Asked Questions

All You Need To Know About IPO

When you leave without vesting, generally unvested ESOPs are cancelled. Vested ESOPs usually can be exercised after you depart, often within 3 to 6 months, depending on the company's ESOP plan.

For companies listed on a stock exchange, you can sell the shares any time after you exercise the ESOP option and the shares are in your demat account. If the company is unlisted or otherwise a startup, you can only sell the shares if and when the company announces a buyback or has a process for secondary sales.

Whenever you exercised your options to hold shares, you entered into a market risk situation, and if the valuation of the company drops, so do the shares.

Yes. ESOPs are valuable to the employer in that the employer is able to retain the best talent, align employee interests with company goals, and preserve cash while rewarding performance.

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