MBL Infrastructure Ltd

₹ 36.3 0.17%

05 Dec 2:37 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 ₹ 553 Cr.
Current Price ₹ 36.3
High / Low ₹ 70.0 / 32.5
Stock P/E
Book Value ₹ 63.8
Dividend Yield 0.00 %
ROCE 5.67 %
ROE -12.8 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.57 times its book value

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -9.62% over past five years.
Company has a low return on equity of -8.20% over last 3 years.
Earnings include an other income of Rs.132 Cr.
Company has high debtors of 321 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

Industrials Construction Construction Civil Construction

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	52.49	39.46	43.12	44.75	20.94	32.68	24.04	33.75	32.95	30.45	31.17	27.69	50.11
	53.49	36.20	108.82	61.03	41.72	56.33	43.20	59.59	68.37	67.43	38.22	49.50	70.88
Operating Profit	-1.00	3.26	-65.70	-16.28	-20.78	-23.65	-19.16	-25.84	-35.42	-36.98	-7.05	-21.81	-20.77
OPM %	-1.91%	8.26%	-152.37%	-36.38%	-99.24%	-72.37%	-79.70%	-76.56%	-107.50%	-121.44%	-22.62%	-78.76%	-41.45%
	8.99	21.39	76.96	35.23	31.44	35.57	28.81	272.39	81.56	33.11	11.39	35.11	52.79
Interest	8.41	8.09	7.96	7.53	7.19	6.23	6.58	6.51	7.94	11.26	38.10	11.97	11.92
Depreciation	15.10	18.34	19.87	19.08	14.57	14.98	14.45	16.22	14.40	15.58	14.32	13.77	12.45
Profit before tax	-15.52	-1.78	-16.57	-7.66	-11.10	-9.29	-11.38	223.82	23.80	-30.71	-48.08	-12.44	7.65
Tax %	13.66%	517.42%	-69.70%	0.00%	-0.09%	0.00%	-0.79%	0.00%	-0.04%	-0.10%	-1.29%	0.08%	-0.13%
	-17.64	-10.99	-5.02	-7.66	-11.09	-9.29	-11.29	223.82	23.81	-30.68	-47.46	-12.45	7.66
EPS in Rs	-1.68	-1.05	-0.48	-0.73	-1.06	-0.89	-1.08	20.39	1.99	-2.56	-3.87	-0.82	0.50
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	1,766	1,962	2,343	2,281	511	154	213	203	164	159	122	128	139
	1,574	1,718	2,079	2,259	454	224	267	99	133	102	70	83	226
Operating Profit	192	243	263	22	57	-70	-54	104	32	58	53	45	-87
OPM %	11%	12%	11%	1%	11%	-46%	-25%	51%	19%	36%	43%	35%	-62%
	4	3	19	38	230	-197	387	129	96	142	131	398	132
Interest	80	107	138	159	252	19	67	162	116	178	160	214	73
Depreciation	14	20	33	27	23	20	55	96	67	72	63	61	56
Profit before tax	103	119	112	-126	12	-306	212	-25	-55	-51	-39	169	-84
Tax %	25%	31%	22%	-49%	-58%	-14%	-25%	-357%	-100%	-0%	-0%	-0%
	77	82	87	-64	19	-264	265	63	0	-51	-39	169	-83
EPS in Rs	22.00	19.66	20.95	-15.48	5.47	-25.19	25.32	6.05	0.01	-4.82	-3.75	13.83	-6.75
Dividend Payout %	7%	8%	7%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-24%
5 Years:	-10%
3 Years:	-8%
TTM:	13%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	-93%

Stock Price CAGR
10 Years:	-16%
5 Years:	31%
3 Years:	17%
1 Year:	-37%

Return on Equity
10 Years:	-4%
5 Years:	-4%
3 Years:	-8%
Last Year:	-13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	18	21	41	41	41	105	105	105	105	105	105	123	153
Reserves	451	636	700	633	654	387	652	715	732	681	642	826	821
	828	1,104	1,433	1,934	1,379	1,437	1,253	1,248	1,204	1,139	1,036	955	956
	381	458	460	299	770	1,035	993	955	975	1,031	1,103	1,096	1,073
Total Liabilities	1,677	2,219	2,635	2,907	2,844	2,963	3,003	3,023	3,016	2,956	2,886	3,000	3,003
	214	217	247	224	180	964	910	837	770	698	683	633	607
CWIP	376	541	761	860	725	0	14	17	34	47	0	0	0
Investments	20	24	24	0	0	0	0	0	0	0	0	0	0
	1,068	1,437	1,603	1,823	1,939	1,999	2,079	2,169	2,212	2,211	2,203	2,367	2,396
Total Assets	1,677	2,219	2,635	2,907	2,844	2,963	3,003	3,023	3,016	2,956	2,886	3,000	3,003

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	122	-63	102	-322	83	277	-6	34	-16	77	48	46
	-206	-193	-337	-78	-60	-78	-13	-26	-16	-11	1	-8
	78	265	164	392	-22	-203	27	3	52	-74	-57	-44
Net Cash Flow	-6	9	-71	-8	0	-3	8	11	20	-8	-8	-6

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	66	74	102	39	74	227	127	91	124	287	344	321
Inventory Days	148	195	152	5	62	51	94	38
Days Payable	48	55	63	22	444	551	915	519
Cash Conversion Cycle	166	213	191	21	-307	-273	-694	-389	124	287	344	321
Working Capital Days	52	62	46	-173	-145	-896	-800	-730	-937	-1,018	-1,604	-1,422
ROCE %	15%	15%	13%	1%	4%	-0%	-0%	6%	3%	6%	7%	6%

Shareholding Pattern

Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	68.48%	68.48%	68.27%	68.27%	68.25%	67.39%	68.84%	71.45%	71.45%	69.74%	74.01%	74.01%
	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	0.04%	0.00%	0.04%	0.04%	0.02%	0.02%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.54%	0.53%	0.43%	0.43%
	31.51%	31.52%	31.73%	31.73%	31.74%	32.60%	31.11%	28.54%	27.97%	29.69%	25.55%	25.56%
No. of Shareholders	21,746	21,283	20,549	18,977	18,301	19,887	26,003	25,932	25,421	24,920	25,068	25,212

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 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%	0.02%
	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%	25.56%
No. of Shareholders	9,795	20,992	22,644	20,830	18,769	18,096	21,840	21,283	19,887	24,920	25,212

* 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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