MBL Infrastructure Ltd.
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ABOUT
AI Sector View
AI GENERATEDConstruction
Construction fundamentals are strong, led by government and infrastructure spending. Capital expenditure was up 66% YoY (2026-06), cement output grew 13.1% YoY (2026-07), and the sector also benefits from improving housing and GFCF conditions. FPI flows turned supportive with INR 1720 crore net inflow over 3 months to 2026-08-31 from INR -9439 crore in the prior 3 months, reinforcing the positive view.
PROS
- Promoters have been increasing their shareholding - up 5.7pp over 2 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.58x)
- Company generates healthy free cash flow
CONS
- Company is loss-making at the operating / net level
- A large part of profit comes from other income (320.5% of PBT)
- Company has a low return on equity of 4.2% over last 3 years
- Interest coverage is weak at 1.2x - earnings barely cover interest
- Company has a low return on capital employed of 12.0%
- Company's sales have been declining over the last five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| LT | 3915.00 | 32.47 | 538651.57 | 0.97 | 4988.03 | 15.51 | 67941.74 | 6.69 | 15.98 | 12.00 |
| RVNL | 205.00 | 47.52 | 42742.91 | 0.35 | 159.52 | 18.73 | 4321.23 | 10.55 | 10.81 | 4.41 |
| KPIL | 1435.05 | 21.56 | 24506.71 | 0.77 | 311.53 | 45.85 | 6407.97 | 3.84 | 18.95 | 8.77 |
| IRB | 19.64 | 24.86 | 23721.19 | 1.32 | 3062.70 | 1412.58 | 21372.72 | 918.25 | 7.72 | 53.93 |
| CEMPRO | 1244.10 | 35.53 | 21372.09 | 0.24 | 140.83 | 2.64 | 2720.92 | 7.02 | 33.53 | 10.09 |
| ENGINERSIN | 269.20 | 19.30 | 15130.18 | 1.86 | 157.94 | 141.49 | 819.84 | -5.80 | 30.94 | 20.61 |
| TECHNOE | 972.50 | 26.24 | 11310.13 | 0.72 | 93.33 | -31.44 | 630.34 | 19.84 | 14.86 | 15.79 |
| WELENT | 782.75 | 35.45 | 10834.34 | 0.38 | 56.36 | -44.29 | 773.72 | -8.44 | 16.44 | 19.49 |
| KEC | 406.45 | 19.54 | 10819.70 | 1.35 | 72.62 | -41.72 | 5023.54 | 0.01 | 16.35 | 5.79 |
| IRCON | 113.20 | 20.33 | 10646.64 | 1.68 | 92.03 | -43.92 | 1955.83 | 9.49 | 10.15 | 9.81 |
| AFCONS | 253.95 | 64.55 | 9339.89 | 0.79 | 303.00 | 120.52 | 26710.00 | 692.49 | 12.88 | 9.42 |
| MBLINFRA | 22.86 | 35.53 | 356.34 | 0.00 | -5.19 | 58.31 | 37.55 | 35.61 | 8.60 | 26.98 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 45 | 21 | 33 | 24 | 34 | 33 | 30 | 31 | 28 | 50 | 51 | 52 | 38 | |
| 61 | 42 | 56 | 44 | 60 | 68 | 71 | 38 | 50 | 71 | 52 | 46 | 46 | |
| Operating Profit | -16 | -21 | -24 | -20 | -26 | -35 | -40 | -7 | -22 | -21 | -1 | 6 | -9 |
| OPM % | -36.38% | -99.24% | -72.37% | -82.78% | -76.56% | -107.50% | -131.95% | -22.62% | -78.76% | -41.45% | -2.27% | 11.42% | -23.01% |
| 35 | 31 | 36 | 29 | 272 | 82 | 33 | 11 | 35 | 53 | 15 | 57 | 20 | |
| Interest | 8 | 7 | 6 | 6 | 7 | 8 | 8 | 38 | 12 | 12 | 10 | 5 | 5 |
| Depreciation | 19 | 15 | 15 | 14 | 16 | 14 | 16 | 14 | 14 | 12 | 14 | 14 | 14 |
| Profit before Tax | -8 | -11 | -9 | -11 | 224 | 24 | -31 | -48 | -12 | 8 | -10 | 44 | 11 |
| Tax % | -0.00% | 0.09% | -0.00% | 0.79% | 0.00% | -0.04% | 0.10% | 1.29% | -0.08% | -0.13% | 1.37% | 119.18% | 148.01% |
| Net Profit | 0 | 0 | 0 | 0 | 224 | 24 | -31 | -47 | -12 | 8 | -9 | -8 | -5 |
| -0.73 | -1.06 | -0.89 | -1.08 | 21.32 | 2.20 | -2.83 | -0.54 | -0.94 | 0.54 | -0.86 | -0.57 | -0.34 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,281 | 511 | 154 | 213 | 203 | 164 | 159 | 122 | 128 | 176 | 191 | |
| 2,260 | 456 | 224 | 267 | 99 | 133 | 102 | 70 | 83 | 68 | 215 | |
| Operating Profit | 21 | 55 | -70 | -54 | 104 | 32 | 58 | 53 | 45 | 108 | -25 |
| OPM % | 0.93% | 10.72% | -45.61% | -25.46% | 51.10% | 19.39% | 36.10% | 43.12% | 35.12% | 61.15% | -12.91% |
| 39 | 230 | -197 | 387 | 129 | 96 | 142 | 131 | 398 | 112 | 145 | |
| Interest | 159 | 250 | 19 | 67 | 162 | 116 | 178 | 160 | 214 | 136 | 31 |
| Depreciation | 27 | 23 | 20 | 55 | 96 | 67 | 72 | 63 | 61 | 54 | 55 |
| Profit before Tax | -126 | 12 | -306 | 212 | -25 | -55 | -51 | -39 | 169 | 30 | 53 |
| Tax % | 48.85% | -58.00% | 13.64% | -25.06% | 357.19% | 100.24% | 0.46% | 0.26% | -0.39% | 175.78% | 128.97% |
| Net Profit | -64 | 19 | -264 | 265 | 63 | 0 | -51 | -39 | 169 | -23 | -15 |
| EPS | 0.00 | 0.00 | 0.00 | 25.32 | 6.05 | 0.01 | -4.82 | -3.75 | 13.83 | -1.48 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -23%
- 5 Years:
- -3%
- 3 Years:
- 3%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- -13%
- 5 Years:
- 4%
- 3 Years:
- -5%
- 1 Year:
- -46%
RETURN ON EQUITY
- 10 Years:
- 1%
- 5 Years:
- 1%
- 3 Years:
- 4%
- Last Year:
- -2%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 41 | 41 | 105 | 105 | 105 | 105 | 105 | 105 | 123 | 153 |
| Minority Interest | 26 | 11 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 633 | 654 | 387 | 652 | 715 | 732 | 681 | 642 | 826 | 803 | |
| 1,869 | 1,758 | 1,925 | 1,623 | 1,589 | 1,487 | 1,473 | 1,303 | 1,285 | 1,270 | |
| Trade Payables | 122 | 45 | 62 | 55 | 53 | 44 | 8 | 3 | 4 | 4 |
| 443 | 443 | 525 | 443 | 466 | 497 | 539 | 683 | 611 | 621 | |
| Total Liabilities | 3,134 | 2,952 | 3,003 | 2,878 | 2,928 | 2,866 | 2,806 | 2,736 | 2,849 | 2,851 |
| 224 | 180 | 964 | 910 | 837 | 770 | 698 | 683 | 633 | 579 | |
| 25 | 6 | 6 | 6 | 4 | 4 | 3 | 2 | 1 | 1 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 115 | 113 | 104 | |
| Cash & Bank | 12 | 6 | 5 | 11 | 23 | 41 | 33 | 25 | 19 | 52 |
| 2,874 | 2,760 | 2,029 | 1,951 | 2,064 | 2,051 | 2,072 | 1,911 | 2,083 | 2,116 | |
| Total Assets | 3,134 | 2,952 | 3,003 | 2,878 | 2,928 | 2,866 | 2,806 | 2,736 | 2,849 | 2,851 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -315 | -300 | 276 | -5 | 35 | -14 | 78 | 48 | -238 | 66 | |
| Cash from Investing | -78 | -60 | -78 | -13 | -26 | -16 | -11 | 1 | -8 | 5 |
| Cash from Financing | 392 | -22 | -203 | 27 | 3 | 52 | -74 | -57 | -38 | -54 |
| -8 | 0 | -3 | 8 | 11 | 20 | -8 | -8 | -6 | 33 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-12 - MBL Infrastructure Limited has informed the Exchange about Shareholders meeting
2026-09-12 - MBL Infrastructure Limited has informed the Exchange about Shareholders meeting
2026-08-17 - MBL Infrastructure Limited has informed the Exchange about General Updates
2026-08-17 - MBL Infrastructure Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-11 - MBL Infrastructure Limited has informed the Exchange about General Updates
2026-08-05 - The Exchange had sought clarification from MBL Infrastructure Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: The response of the Company is enclosed.
2026-07-31 - The Exchange has sought clarification from MBL Infrastructure Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: The response of the Company is awaited.
2026-07-28 - MBL Infrastructure Limited has informed the Exchange regarding a press release dated July 28, 2026, titled "Press Release".
2026-07-28 - MBL Infrastructure Limited has informed the Exchange about General Updates
News
Recent coverage and analyst commentary for MBLINFRA
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MBL Infrastructure Ltd.
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