McNally Bharat Engineering Company Ltd

₹ 4.23 -4.94%

25 Apr 4:01 p.m.

mcnallybharat.com BSE: 532629 NSE : MBECL

About

Incorporated in 1961, McNally Bharat
Engineering Company Ltd is engaged
in diversified construction activities,
primarily execution of Turnkey Projects^[1]

Key Points

Business Overview:^[1]
Company is a part of Williamson Magor
Group. It provides turnkey solutions in
the areas of Power, Steel, Aluminium,
Material Handling, Mineral Beneficiation, Pyroprocessing, and Pneumatic Handling of
powdered materials including fly ash handling
and high concentrate disposal, coal washing,
Port cranes, Cement, Oil and gas, civic and industrial water supply, etc. It has many subsidiaries and associates, both in India
and abroad.

Website BSE NSE

Market Cap ₹ 89.5 Cr.
Current Price ₹ 4.23
High / Low ₹ 7.23 / 2.90
Stock P/E
Book Value ₹ -177
Dividend Yield 0.00 %
ROCE -28.3 %
ROE %
Face Value ₹ 10.0

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Pros

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -25.7% over past five years.
Promoter holding is low: 32.8%
Contingent liabilities of Rs.1,457 Cr.
Company has high debtors of 722 days.
Company's cost of borrowing seems high

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Engineering Industry: Engineering - Turnkey Services

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	120	175	91	109	116	109	92	87	111	90	41	47	40
	136	155	103	105	118	197	125	193	205	178	48	59	54
Operating Profit	-16	20	-12	4	-2	-88	-33	-106	-93	-88	-7	-12	-14
OPM %	-13%	11%	-13%	4%	-2%	-81%	-36%	-121%	-84%	-97%	-17%	-26%	-35%
	8	4	9	13	20	-1	11	12	-59	104	11	11	10
Interest	9	4	10	13	14	15	1,021	144	600	173	241	190	198
Depreciation	3	3	3	3	4	3	3	3	3	2	1	1	1
Profit before tax	-19	17	-16	1	1	-107	-1,046	-241	-756	-159	-237	-192	-203
Tax %	0%	0%	0%	0%	0%	0%	0%	0%	0%	-39%	0%	0%	0%
	-19	17	-16	1	1	-107	-1,046	-241	-756	-221	-237	-192	-203
EPS in Rs	-0.93	0.89	-0.74	0.05	0.04	-4.67	-49.41	-11.36	-35.73	-10.82	-11.20	-9.07	-9.58
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	2,643	2,682	2,632	2,430	2,694	2,172	1,682	1,739	730	502	403	381	218
	2,467	2,513	2,512	2,278	2,692	2,527	1,832	2,205	1,043	496	488	701	339
Operating Profit	177	169	120	152	1	-356	-149	-466	-313	6	-86	-320	-121
OPM %	7%	6%	5%	6%	0%	-16%	-9%	-27%	-43%	1%	-21%	-84%	-55%
	51	21	77	101	47	317	153	135	62	30	40	68	137
Interest	116	162	231	284	385	489	589	447	118	64	63	1,939	802
Depreciation	26	31	40	46	38	45	31	23	18	16	13	10	4
Profit before tax	85	-3	-74	-78	-375	-572	-617	-802	-388	-44	-121	-2,201	-791
Tax %	22%	-736%	-2%	-5%	-0%	91%	24%	1%	0%	0%	0%	-3%
	66	-21	-75	-81	-377	-51	-470	-791	-387	-44	-121	-2,263	-853
EPS in Rs	21.11	-7.03	-24.25	-18.30	-72.15	-10.62	-29.17	-45.51	-18.26	-2.11	-5.32	-107.32	-40.67
Dividend Payout %	5%	-14%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-18%
5 Years:	-26%
3 Years:	-20%
TTM:	-45%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	55%

Stock Price CAGR
10 Years:	-25%
5 Years:	-8%
3 Years:	-17%
1 Year:	4%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	31	31	31	41	51	54	158	172	212	212	212	212	212
Reserves	332	350	276	302	-467	45	-127	-42	-204	-259	-385	-3,536	-3,966
Preference Capital	0	8	10	10	0	0	96	39	0	0	0
	718	1,067	1,395	1,800	2,497	3,095	3,468	2,340	2,397	2,385	2,405	3,106	3,108
	1,729	1,796	1,987	2,024	2,238	2,288	1,834	1,196	683	460	467	2,317	2,663
Total Liabilities	2,810	3,244	3,690	4,167	4,319	5,482	5,334	3,666	3,088	2,798	2,699	2,098	2,017
	346	396	405	314	286	385	360	193	199	183	154	18	17
CWIP	60	11	8	9	5	4	5	5	5	5	5	5	5
Investments	46	94	0	27	30	21	16	1	1	1	1	1	1
	2,359	2,743	3,277	3,817	3,998	5,072	4,953	3,467	2,883	2,609	2,539	2,073	1,994
Total Assets	2,810	3,244	3,690	4,167	4,319	5,482	5,334	3,666	3,088	2,798	2,699	2,098	2,017

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	-56	-156	-184	-457	-392	-568	-303	359	-187	63	-7	10
	-66	-88	67	135	-25	-22	65	390	47	2	47	-11
	67	231	121	329	429	595	302	-806	120	-48	-33	6
Net Cash Flow	-54	-12	5	6	12	6	64	-57	-19	16	7	5

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	209	221	225	231	204	295	390	365	717	791	900	722
Inventory Days	63	200	92	80	72	355	618	267	255	307	202	1
Days Payable	246	800	329	327	312	1,476	1,412	771	597	859	955	394
Cash Conversion Cycle	26	-379	-12	-16	-35	-827	-404	-139	375	239	146	329
Working Capital Days	90	131	172	246	179	308	499	327	771	1,095	1,278	-756
ROCE %	17%	12%	8%	6%	0%	-3%	-1%	-11%	-11%	1%	-1%

Shareholding Pattern

Numbers in percentages

2 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	34.21%	32.79%	32.79%	32.79%	32.79%	32.79%	32.79%	32.79%	32.79%	32.79%	32.79%	32.79%
	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	1.17%	1.14%
	65.75%	67.17%	67.17%	67.17%	67.17%	67.17%	67.16%	67.17%	67.17%	67.17%	66.02%	66.06%
No. of Shareholders	14,997	16,021	18,178	23,824	24,773	24,492	24,204	24,019	23,271	23,076	22,440	22,703

	Feb 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	70.45%	72.11%	44.80%	41.34%	37.89%	34.21%	32.79%	32.79%	32.79%
	0.00%	0.08%	0.03%	0.02%	0.02%	0.00%	0.00%	0.00%	0.00%
	0.73%	0.45%	1.58%	0.06%	0.05%	0.04%	0.04%	0.04%	1.14%
	28.80%	27.36%	53.59%	58.58%	62.04%	65.75%	67.17%	67.17%	66.06%
No. of Shareholders	15,643	16,238	14,860	14,968	14,771	14,772	23,824	24,019	22,703

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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McNally Bharat Engineering Company Ltd

McNally Bharat Engineering Company Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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