MBL Infrastructure Ltd.

•

mblinfra.comBSE: 533152NSE: MBLINFRA

Market Cap₹ 361 Cr.

Current Price

High / Low₹ 52 / 18

Stock P/E—

Book Value₹ 61

Price to Book0.31

Dividend Yield0.00 %

ROCE8.6 %

ROE-2.4 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Construction

Buy

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.

Confidence

80%

View full sector analysis →

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

ConstructionInfrastructureEngineering - Construction

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	LT	3989.15	33.08	548853.62	0.95	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	205.95	47.74	42940.99	0.34	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1410.25	21.19	24083.20	0.78	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.18	24.28	23165.60	1.36	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1234.85	35.26	21213.19	0.24	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	276.40	19.81	15534.85	1.81	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	969.70	26.16	11277.57	0.72	93.33	-31.44	630.34	19.84	14.86	15.79
8.	IRCON	118.30	21.25	11126.30	1.61	92.03	-43.92	1955.83	9.49	10.15	9.81
9.	KEC	407.85	19.61	10856.97	1.35	72.62	-41.72	5023.54	0.01	16.35	5.79
10.	AFCONS	284.95	72.43	10480.02	0.70	303.00	120.52	26710.00	692.49	12.88	9.42
11.	WELENT	741.55	33.58	10264.08	0.40	56.36	-44.29	773.72	-8.44	16.44	19.49
12.	MBLINFRA	23.18	36.02	361.33	0.00	-5.19	58.31	37.55	35.61	8.60	26.98

Detailed Comparison with:

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	451	45	-40	-7	-22	13	-1	6	10
OPM %	-36.38%	-99.24%	-72.37%	-82.78%	1335.47%	136.87%	-131.95%	-23.39%	-80.14%	26.20%	-2.27%	10.62%	26.98%
Other Income	35	31	36	29	34	41	33	12	35	36	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
	-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
	-1	-1	-1	-1	21	2	-3	-1	-1	1	-1	-1	-0
Equity Capital	105	105	105	105	110	120	120	123	153	153	153	153	153
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

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	60	121	17	49	223	128	199	184	165	203	—
OPM %	3	24	11	23	110	78	125	150	129	115	—
Other Income	39	66	87	103	120	96	142	131	120	96	128
Interest	159	250	19	67	162	116	178	160	214	136	31
Depreciation	27	23	20	55	96	67	72	63	61	54	55
	-126	12	-306	212	-25	-55	-51	-39	169	30	53
Tax %	49	-58	14	-25	357	100	0	0	-0	176	129
Net Profit	-64	19	-264	265	63	0	-51	-39	169	-23	-15
EPS	0	0	0	25	6	0	-5	-4	14	-1	—
Dividend Payout %	0	0	0	0	0	0	0	0	0	0	—
Minority Interest	0	4	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	-15	5	-25	25	6	0	-5	-4	14	-1	—

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:: -9%
5 Years:: 4%
3 Years:: -2%
1 Year:: -41%

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
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	41	41	105	105	105	105	105	105	123	153
	633	654	387	652	715	732	681	642	826	803
	1,225	120	107	110	96	91	88	43	314	302
Trade Payables	122	45	62	55	53	44	8	3	4	4
	1,113	2,092	2,343	1,955	1,959	1,894	1,923	1,943	1,583	1,588
Total Liabilities	3,134	2,952	3,003	2,878	2,928	2,866	2,806	2,736	2,849	2,851
ASSETS	-	-	-	-	-	-	-	-	-	-
	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
Total Debt	1,934	1,379	1,437	1,253	1,248	1,205	1,139	1,036	955	987
Net Working Capital	-1,070	-198	-374	-455	-383	-381	-412	-513	-752	-747
Contingent Liabilities	556	181	222	225	75	22	22	77	18	31
Book Value per Share	162.79	167.75	46.90	72.23	78.29	79.85	75.03	71.29	77.40	62.68
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00

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
	-322	83	277	-6	34	-16	77	48	40	82
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
Free Cash Flow	-325	83	-527	-6	11	-16	77	1	28	82
OCF / Net Profit	5.02	4.35	-1.05	-0.02	0.53	-117.98	-1.52	-1.22	0.24	-3.65
Cumulative 5-Year FCF	0	0	0	0	-763	-454	-461	67	101	172

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
PER SHARE
EPS (₹)	-15.49	5.47	-25.19	25.32	6.05	0.01	-4.82	-3.75	13.83	-1.48
Book Value (₹)	162.79	167.75	46.90	72.23	78.29	79.85	75.03	71.29	77.40	62.68
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	-8.92	10.07	-23.30	30.53	15.19	6.42	2.07	2.27	18.77	2.08
PROFITABILITY
Operating Margin %	2.64%	23.65%	10.74%	22.86%	110.02%	77.84%	124.92%	43.12%	35.12%	61.15%
Net Margin %	-2.81%	3.74%	-171.19%	124.66%	31.25%	0.08%	-31.69%	-32.13%	132.08%	-12.83%
ROE %	-9.06%	2.79%	-44.47%	42.51%	8.04%	0.02%	-6.23%	-5.13%	20.00%	-2.37%
ROCE %	1.38%	11.19%	-14.34%	14.15%	6.71%	2.96%	6.40%	6.51%	20.78%	8.60%
	-2.17%	0.63%	-8.86%	9.02%	2.18%	0.00%	-1.78%	-1.42%	6.07%	-0.79%
EFFICIENCY
Debtor Days	71	123	236	146	112	118	207	359	325	225
Inventory Days	61	11	14	10	9	8	8	7	4	2
Payable Days	29	799	474	971	531	879	503	209	274	211
	103	-664	-223	-815	-410	-753	-288	156	55	16
FINANCIAL HEALTH
Debt to Equity (x)	2.87x	1.98x	2.92x	1.66x	1.52x	1.44x	1.45x	1.39x	1.01x	1.03x
Interest Coverage (x)	0.21x	1.05x	-15.45x	4.18x	0.85x	0.53x	0.71x	0.75x	1.79x	1.22x
	0.37x	0.59x	0.40x	0.35x	0.46x	0.51x	0.47x	0.39x	0.29x	0.26x
GROWTH
Revenue Growth %	-2.62%	-77.61%	-69.82%	38.03%	-4.67%	-18.95%	-3.04%	-23.20%	4.82%	37.21%
Operating Profit Growth %	-78.68%	100.37%	-86.29%	193.89%	358.71%	-42.66%	55.60%	-7.67%	-10.19%	23.07%
Net Profit Growth %	-173.90%	129.74%	-1481.95%	200.51%	-76.10%	-99.79%	0.00%	22.14%	530.92%	-113.33%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	22.14%	468.40%	-110.71%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	3.28x	0.00x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.76x	0.59x	0.31x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	8.59x	9.03x	6.05x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	68.85	71.45	71.45	69.74	74.01	74.01	74.01	74.57	74.57
	0.04	0.00	0.04	0.04	0.02	0.02	0.01	0.00	0.00
	0.00	0.00	0.54	0.53	0.43	0.43	0.00	0.42	0.42
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	31.11	28.55	27.97	29.68	25.54	25.54	25.98	25.01	25.01

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-17

General Updates

2026-08-17 - MBL Infrastructure Limited has informed the Exchange about General Updates

2026-08-17

Copy of Newspaper Publication

2026-08-17 - MBL Infrastructure Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-11

General Updates

2026-08-11 - MBL Infrastructure Limited has informed the Exchange about General Updates

2026-08-05

Reply to Clarification- Financial results

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

Clarification - Financial Results

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

Press Release

2026-07-28 - MBL Infrastructure Limited has informed the Exchange regarding a press release dated July 28, 2026, titled "Press Release".

2026-07-28

General Updates

2026-07-28 - MBL Infrastructure Limited has informed the Exchange about General Updates

2026-07-23

Outcome of Board Meeting

2026-07-23 - MBL Infrastructure Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-20

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-20 - MBL Infrastructure Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

News

Recent coverage and analyst commentary for MBLINFRA

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Free 5nance Account

Name

3989.15

33.08

548853.62

0.95

4988.03

15.51

67941.74

6.69

15.98

12.00

RVNL

205.95

47.74

42940.99

0.34

159.52

18.73

4321.23

10.55

10.81

4.41

KPIL

1410.25

21.19

24083.20

0.78

311.53

45.85

6407.97

3.84

18.95

8.77

IRB

19.18

24.28

23165.60

1.36

3062.70

1412.58

21372.72

918.25

7.72

53.93

CEMPRO

1234.85

35.26

21213.19

0.24

140.83

2.64

2720.92

7.02

33.53

10.09

ENGINERSIN

276.40

19.81

15534.85

1.81

157.94

141.49

819.84

-5.80

30.94

20.61

TECHNOE

969.70

26.16

11277.57

0.72

93.33

-31.44

630.34

19.84

14.86

15.79

IRCON

118.30

21.25

11126.30

1.61

92.03

-43.92

1955.83

9.49

10.15

9.81

KEC

407.85

19.61

10856.97

1.35

72.62

-41.72

5023.54

0.01

16.35

5.79

AFCONS

284.95

72.43

10480.02

0.70

303.00

120.52

26710.00

692.49

12.88

9.42

WELENT

741.55

33.58

10264.08

0.40

56.36

-44.29

773.72

-8.44

16.44

19.49

MBLINFRA

23.18

36.02

361.33

0.00

-5.19

58.31

37.55

35.61

8.60

26.98

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

Operating Profit

-16

-21

-24

-20

451

-40

-7

-22

-1

OPM %

-36.38%

-99.24%

-72.37%

-82.78%

1335.47%

136.87%

-131.95%

-23.39%

-80.14%

26.20%

-2.27%

10.62%

26.98%

Other Income

Interest

Depreciation

-8

-11

-9

-11

224

-31

-48

-12

-10

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

224

-31

-47

-12

-9

-8

-5

-1

-3

-1

-0

Equity Capital

105

110

120

123

153

Reserves

Promoter Pledge %

0.00%

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

133

102

215

Operating Profit

121

223

128

199

184

165

203

—

OPM %

110

125

150

129

115

—

Other Income

103

120

142

131

120

128

Interest

159

250

162

116

178

160

214

136

Depreciation

-126

-306

212

-25

-55

-51

-39

169

Tax %

-58

-25

357

100

-0

176

129

Net Profit

-64

-264

265

-51

-39

169

-23

-15

EPS

-5

-4

-1

—

Dividend Payout %

—

Minority Interest

Share of Associates

Adjusted EPS

-15

-25

-5

-4

-1

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

LIABILITIES

Equity Capital

105

123

153

633

654

387

652

715

732

681

642

826

803

1,225

120

107

110

314

302

Trade Payables

122

1,113

2,092

2,343

1,955

1,959

1,894

1,923

1,943

1,583

1,588

Total Liabilities

3,134

2,952

3,003

2,878

2,928

2,866

2,806

2,736

2,849

2,851

ASSETS

224

180

964

910

837

770

698

683

633

579

115

113

104

Cash & Bank

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

Total Debt

1,934

1,379

1,437

1,253

1,248

1,205

1,139

1,036

955

987

Net Working Capital

-1,070

-198

-374

-455

-383

-381

-412

-513

-752

-747

Contingent Liabilities

556

181

222

225

Book Value per Share

162.79

167.75

46.90

72.23

78.29

79.85

75.03

71.29

77.40

62.68

Face Value

10.00

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-322

277

-6

-16

Cash from Investing

-78

-60

-78

-13

-26

-16

-11

-8

Cash from Financing

392

-22

-203

-74

-57

-38

-54

-8

-3

-8

-6

Free Cash Flow

-325

-527

-6

-16

OCF / Net Profit

5.02

4.35

-1.05

-0.02

0.53

-117.98

-1.52

-1.22

0.24

-3.65

Cumulative 5-Year FCF

-763

-454

-461

101

172

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

PER SHARE

EPS (₹)

-15.49

5.47

-25.19

25.32

6.05

0.01

-4.82

-3.75

13.83

-1.48

Book Value (₹)

162.79

167.75

46.90

72.23

78.29

79.85

75.03

71.29

77.40

62.68

Dividend per Share (₹)

0.00

Cash EPS (₹)

-8.92

10.07

-23.30

30.53

15.19

6.42

2.07

2.27

18.77

2.08

PROFITABILITY

Operating Margin %

2.64%

23.65%

10.74%

22.86%

110.02%

77.84%

124.92%

43.12%

35.12%

61.15%

Net Margin %

-2.81%

3.74%

-171.19%

124.66%

31.25%

0.08%

-31.69%

-32.13%

132.08%

-12.83%

ROE %

-9.06%

2.79%

-44.47%

42.51%

8.04%

0.02%

-6.23%

-5.13%

20.00%

-2.37%

ROCE %

1.38%

11.19%

-14.34%

14.15%

6.71%

2.96%

6.40%

6.51%

20.78%

8.60%

-2.17%

0.63%

-8.86%

9.02%

2.18%

0.00%

-1.78%

-1.42%

6.07%

-0.79%

EFFICIENCY

Debtor Days

123

236

146

112

118

207

359

325

225

Inventory Days

Payable Days

799

474

971

531

879

503

209

274

211

103

-664

-223

-815

-410

-753

-288

156

FINANCIAL HEALTH

Debt to Equity (x)

2.87x

1.98x

2.92x

1.66x

1.52x

1.44x

1.45x

1.39x

1.01x

1.03x

Interest Coverage (x)

0.21x

1.05x

-15.45x

4.18x

0.85x

0.53x

0.71x

0.75x

1.79x

1.22x

0.37x

0.59x

0.40x

0.35x

0.46x

0.51x

0.47x

0.39x

0.29x

0.26x

GROWTH

Revenue Growth %

-2.62%

-77.61%

-69.82%

38.03%

-4.67%

-18.95%

-3.04%

-23.20%

4.82%

37.21%

Operating Profit Growth %

-78.68%

100.37%

-86.29%

193.89%

358.71%

-42.66%

55.60%

-7.67%

-10.19%

23.07%

Net Profit Growth %

-173.90%

129.74%

-1481.95%

200.51%

-76.10%

-99.79%

0.00%

22.14%

530.92%

-113.33%

0.00%

22.14%

468.40%

-110.71%

VALUATION

P/E (x)

0.00x

3.28x

0.00x

P/B (x)

0.00x

0.76x

0.59x

0.31x

Dividend Yield %

0.00%

0.00x

8.59x

9.03x

6.05x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

68.85

71.45

69.74

74.01

74.57

0.04

0.00

0.04

0.02

0.01

0.00

0.54

0.53

0.43

0.00

0.42

Government

0.00

31.11

28.55

27.97

29.68

25.54

25.98

25.01

MBL Infrastructure Ltd.

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MBL Infrastructure Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI