MBL Infrastructure Ltd

₹ 45.3 -1.35%

13 Jun 4:01 p.m.

About

Incorporated in 1995, MBL Infrastructure Ltd provides integrated engineering, procurement and construction services for civil construction and other infrastructure projects^[1]

Key Points

Business Overview:^[1]
MBL is a ISO 9001: 2015, 14001:2015, 45001:2018 certified company engaged in the execution of civil engineering projects in various business segments viz:
a) Roads & Highway Construction (EPC, BOT, O&M)
b) Building, Housing & Urban Infrastructure
c) Railways /Metro and Other Infrastructure.
MBL provides integrated engineering, procurement and construction (EPC) services
for civil construction and infrastructure sector projects

Website BSE NSE

Market Cap ₹ 554 Cr.
Current Price ₹ 45.3
High / Low ₹ 85.1 / 32.5
Stock P/E 65.0
Book Value ₹ 108
Dividend Yield 0.00 %
ROCE 0.97 %
ROE 0.66 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.42 times its book value
Company is expected to give good quarter
Promoter holding has increased by 2.56% over last quarter.

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Company has low interest coverage ratio.
The company has delivered a poor sales growth of -12.4% over past five years.
Tax rate seems low
Company has a low return on equity of 0.56% over last 3 years.
Contingent liabilities of Rs.319 Cr.
Company might be capitalizing the interest cost
Earnings include an other income of Rs.158 Cr.
Company has high debtors of 542 days.

* 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

Industrials Construction Construction Civil Construction

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	14.89	1.94	32.50	21.09	25.80	19.43	3.03	22.17	12.80	21.59	23.07	18.55	22.35
	43.98	30.35	34.98	27.99	104.64	50.31	30.12	53.81	36.14	51.15	60.60	42.09	24.77
Operating Profit	-29.09	-28.41	-2.48	-6.90	-78.84	-30.88	-27.09	-31.64	-23.34	-29.56	-37.53	-23.54	-2.42
OPM %	-195.37%	-1,464.43%	-7.63%	-32.72%	-305.58%	-158.93%	-894.06%	-142.72%	-182.34%	-136.92%	-162.68%	-126.90%	-10.83%
	17.94	32.24	7.58	19.36	72.05	34.09	30.52	34.55	27.56	33.46	80.90	32.46	11.29
Interest	0.32	0.68	0.67	0.67	0.69	0.74	0.73	0.00	0.74	0.81	0.00	5.83	5.26
Depreciation	5.59	1.59	1.50	1.50	1.79	1.25	1.26	1.23	1.19	1.16	1.14	1.07	1.00
Profit before tax	-17.06	1.56	2.93	10.29	-9.27	1.22	1.44	1.68	2.29	1.93	42.23	2.02	2.61
Tax %	-202.58%	-0.64%	69.97%	89.21%	-124.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	17.50	1.57	0.88	1.11	2.24	1.22	1.44	1.68	2.29	1.93	42.23	2.02	2.61
EPS in Rs	1.67	0.15	0.08	0.11	0.21	0.12	0.14	0.16	0.22	0.18	3.53	0.17	0.21
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	1,754	1,948	2,314	2,271	487	147	166	146	74	81	57	86
	1,573	1,717	2,078	2,258	453	205	213	76	63	54	38	179
Operating Profit	180	231	236	13	34	-59	-47	70	11	28	20	-94
OPM %	10%	12%	10%	1%	7%	-40%	-28%	48%	15%	34%	34%	-110%
	4	3	16	35	461	-202	370	114	87	131	127	158
Interest	74	102	127	157	248	7	8	127	80	147	135	11
Depreciation	10	15	17	18	15	14	14	53	11	6	5	4
Profit before tax	101	117	107	-126	232	-282	301	5	7	6	7	49
Tax %	25%	31%	21%	-48%	-3%	-15%	-18%	-1,778%	-801%	-5%	0%	0%
	75	80	85	-65	239	-241	354	93	64	6	7	49
EPS in Rs	21.47	19.32	20.42	-15.71	57.66	-23.03	33.82	8.91	6.07	0.55	0.63	3.98
Dividend Payout %	7%	8%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-27%
5 Years:	-12%
3 Years:	5%
TTM:	49%

Compounded Profit Growth
10 Years:	-20%
5 Years:	-34%
3 Years:	-49%
TTM:	29%

Stock Price CAGR
10 Years:	-16%
5 Years:	55%
3 Years:	34%
1 Year:	-18%

Return on Equity
10 Years:	1%
5 Years:	3%
3 Years:	1%
Last Year:	1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	18	21	41	41	41	105	105	105	105	105	105	123
Reserves	443	626	689	617	857	615	970	1,063	1,127	1,133	1,139	1,203
	504	712	907	1,353	815	965	805	791	785	785	791	686
	471	534	476	228	601	706	581	517	489	495	479	455
Total Liabilities	1,435	1,893	2,113	2,239	2,314	2,392	2,460	2,477	2,506	2,517	2,515	2,466
	166	174	188	159	145	130	116	64	53	46	42	38
CWIP	0	0	0	0	0	0	0	0	0	0	0	0
Investments	166	200	242	218	218	303	303	303	303	303	303	313
	1,103	1,518	1,684	1,862	1,951	1,958	2,041	2,110	2,150	2,168	2,170	2,115
Total Assets	1,435	1,893	2,113	2,239	2,314	2,392	2,460	2,477	2,506	2,517	2,515	2,466

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	163	-152	-16	-312	12	155	-123	4	2	-5	4	24
	-107	-90	-66	32	7	-85	-1	-0	-0	-0	-1	-10
	-58	243	45	299	-3	-73	127	0	0	0	0	-10
Net Cash Flow	-3	1	-37	19	16	-4	2	4	1	-5	4	4

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	86	93	113	37	69	266	192	144	312	643	790	542
Inventory Days	148	195	152	5	62	51	94					76
Days Payable	47	55	63	22	414	512	871					182
Cash Conversion Cycle	186	234	202	20	-283	-195	-585	144	312	643	790	436
Working Capital Days	156	198	179	40	114	267	268	521	1,448	1,275	1,418	851
ROCE %	19%	19%	16%	2%	4%	0%	1%	7%	4%	8%	7%	1%

Shareholding Pattern

Numbers in percentages

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
	68.48%	68.48%	68.48%	68.27%	68.27%	68.25%	67.39%	68.84%	71.45%	71.45%	69.74%	74.01%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	0.04%	0.00%	0.04%	0.04%	0.00%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.54%	0.53%	0.43%
	31.52%	31.51%	31.52%	31.73%	31.73%	31.74%	32.60%	31.11%	28.54%	27.97%	29.69%	25.57%
No. of Shareholders	22,087	21,746	21,283	20,549	18,977	18,301	19,887	26,003	25,932	25,421	24,920	25,144

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Jun 2025
	47.90%	26.29%	21.74%	68.49%	68.49%	68.49%	68.49%	68.48%	67.39%	69.74%	74.01%
	11.92%	8.70%	0.00%	0.00%	0.00%	1.03%	0.01%	0.00%	0.00%	0.04%	0.00%
	22.27%	7.97%	0.16%	0.06%	0.01%	0.00%	0.00%	0.00%	0.00%	0.53%	0.43%
	17.90%	57.04%	78.10%	31.45%	31.51%	30.48%	31.51%	31.52%	32.60%	29.69%	25.57%
No. of Shareholders	9,795	20,992	22,644	20,830	18,769	18,096	21,840	21,283	19,887	24,920	25,144

* 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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