MEP Infrastructure Developers Ltd.

•

mepinfra.comBSE: 539126NSE: MEP

Market Cap₹ 13 Cr.

Current Price

High / Low₹ 3 / 0

Stock P/E0.0

Book Value₹ 0

Price to Book—

Dividend Yield0.00 %

ROCE-14.5 %

ROE-38.8 %

Face Value₹ 10

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2023 • Toll Collection/ Repairs & Maintenance: 89.3% • Construction: 10.7%

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

Working capital cycle has improved - days down from -917 to -3107
Company generates healthy free cash flow

CONS

Company is loss-making at the operating / net level
Company has a low return on equity of -29.7% over last 3 years
Company has a low return on capital employed of -10.7%
Promoter holding has decreased over last 2 years: -7.6pp
Interest coverage is weak at -2.1x - earnings barely cover interest
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.11x)

* 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	3966.00	32.89	545668.49	0.96	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	212.00	49.14	44202.43	0.33	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1406.55	21.14	24020.01	0.78	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.65	24.87	23733.27	1.32	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1296.70	37.03	22275.70	0.23	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	279.45	20.03	15706.27	1.79	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	979.25	26.42	11388.64	0.71	93.33	-31.44	630.34	19.84	14.86	15.79
8.	WELENT	813.00	36.82	11253.04	0.37	56.36	-44.29	773.72	-8.44	16.44	19.49
9.	IRCON	119.20	21.41	11210.95	1.59	92.03	-43.92	1955.83	9.49	10.15	9.81
10.	KEC	408.35	19.63	10870.28	1.35	72.62	-41.72	5023.54	0.01	16.35	5.79
11.	AFCONS	292.55	74.36	10759.54	0.68	303.00	120.52	26710.00	692.49	12.88	9.42
12.	MEP	0.72	0.00	13.41	0.00	-713.08	-1025.45	34.78	224.44	-20.94	-1645.72

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
	33	16	8	16	20	16	3	11	20
	62	44	16	13	80	31	30	34	620
Operating Profit	-29	-28	-9	3	-60	-15	-27	-24	-600
OPM %	-90.54%	-179.29%	-113.38%	19.40%	-300.00%	-90.22%	-936.43%	-215.57%	-2925.96%
	47	1	3	5	4	3	1	-59	6
Interest	12	11	9	9	13	9	13	9	9
Depreciation	18	3	2	2	1	1	1	1	1
Profit before Tax	-13	-42	-17	-3	-70	-22	-39	-92	-604
Tax %	-5.00%	-0.29%	-0.06%	-3.74%	0.41%	7.98%	-0.82%	-0.67%	-0.22%
Net Profit	-14	-42	-17	-3	-70	-20	-40	-93	-605
	-0.76	-2.28	-0.91	-0.17	-3.80	-1.09	-2.15	-5.02	-32.49

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	TTM
	487	907	695	781	1,477	1,869	1,370	367	194	60	50
	466	867	75	163	1,257	1,649	1,467	414	185	154	715
Operating Profit	21	41	621	617	220	220	-98	-47	9	-94	-665
OPM %	4.29%	4.47%	89.26%	79.07%	14.91%	11.79%	-7.14%	-12.85%	4.67%	-157.87%	-1317.40%
	13	26	45	29	14	13	34	-71	72	13	-49
Interest	27	35	56	61	52	64	70	63	43	42	39
Depreciation	3	6	565	559	118	122	52	43	82	8	3
Profit before Tax	4	25	44	27	64	47	-185	-224	-44	-131	-757
Tax %	41.64%	35.52%	31.10%	33.96%	37.08%	35.97%	24.16%	0.73%	-4.53%	0.04%	-0.07%
Net Profit	2	16	30	18	40	30	-141	-222	-46	-131	-757
EPS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-12.11	-2.48	-7.16	—
Dividend Payout %	0.00%	0.00%	10.73%	22.99%	12.14%	18.30%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: -24%
5 Years:: -47%
3 Years:: -65%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: -34%
5 Years:: -49%
3 Years:: -62%
1 Year:: -53%

RETURN ON EQUITY

10 Years:: -8%
5 Years:: -21%
3 Years:: -30%
Last Year:: -39%

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
Equity Capital	100	111	163	163	163	183	183	183	183	183
	118	147	425	438	475	634	487	265	220	90
	213	509	584	780	550	542	439	301	298	254
Trade Payables	29	51	375	239	205	475	800	741	751	752
	98	132	48	251	633	704	896	1,154	264	307
Total Liabilities	558	951	1,594	1,870	2,026	2,538	2,804	2,644	1,716	1,586
	15	11	344	157	73	43	93	88	36	18
Capital Work in Progress	0	0	0	1	0	0	0	0	0	0
	71	210	522	670	779	819	853	853	841	424
	0	0	0	0	0	11	14	14	5	4
	0	0	0	0	0	0	0	0	0	0
Cash & Bank	28	38	49	61	57	56	57	34	26	14
	444	692	680	981	1,117	1,609	1,787	1,654	810	1,126
Total Assets	558	951	1,594	1,870	2,026	2,538	2,804	2,644	1,716	1,586

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
	14	16	100	106	293	-83	220	90	-150	6
Cash from Investing	-24	-159	-388	39	-205	-16	-107	45	248	12
Cash from Financing	14	157	308	-116	-80	129	-83	-152	-97	-16
	1	-11	5	7	-4	-6	-1	-5	-1	1

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
PER SHARE
EPS (₹)	0.24	1.45	1.86	1.09	2.47	1.64	-7.67	-12.11	-2.48	-7.16
Book Value (₹)	21.75	23.20	36.14	36.97	39.24	44.57	36.54	24.42	22.02	14.88
Dividend per Share (₹)	0.00	0.00	0.20	0.25	0.30	0.30	0.00	0.00	0.00	0.00
Cash EPS (₹)	0.51	2.01	36.63	35.47	9.75	8.30	-4.84	-9.78	1.99	-6.73
PROFITABILITY
Operating Margin %	6.91%	7.30%	95.69%	82.80%	15.86%	12.49%	-4.63%	-6.16%	19.35%	-136.70%
Net Margin %	0.50%	1.78%	4.36%	2.26%	2.72%	1.61%	-10.27%	-60.49%	-23.45%	-220.72%
ROE %	1.14%	6.78%	7.16%	2.97%	6.48%	4.13%	-18.91%	-39.72%	-10.69%	-38.82%
ROCE %	7.44%	10.79%	11.75%	8.66%	11.62%	10.03%	-10.02%	-17.44%	-0.07%	-14.54%
	0.50%	2.14%	2.38%	1.02%	2.06%	1.32%	-5.27%	-8.15%	-2.09%	-7.96%
EFFICIENCY
Debtor Days	18	12	10	8	15	16	17	59	65	65
Inventory Days	0	0	0	0	0	2	3	14	18	26
Payable Days	0	0	0	0	0	0	0	0	0	0
	18	12	10	8	15	18	21	74	84	91
FINANCIAL HEALTH
Debt to Equity (x)	1.02x	1.60x	0.75x	0.65x	0.57x	0.49x	0.61x	0.71x	0.67x	0.94x
Interest Coverage (x)	1.16x	1.72x	1.78x	1.44x	2.23x	1.73x	-1.64x	-2.56x	-0.01x	-2.12x
	0.98x	0.81x	0.43x	0.69x	0.96x	1.05x	0.83x	0.72x	0.59x	0.58x
GROWTH
Revenue Growth %	-46.62%	86.41%	-23.35%	12.30%	89.14%	26.57%	-26.73%	-73.19%	-47.11%	-69.34%
Operating Profit Growth %	-39.29%	96.97%	905.03%	-2.83%	-63.78%	-0.30%	-127.13%	64.30%	266.09%	-316.65%
Net Profit Growth %	-85.15%	559.61%	87.63%	-41.67%	127.19%	-25.11%	-567.72%	-57.88%	79.50%	-188.60%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
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	0.00x	0.00x	0.00x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	30.99	30.64	28.23	28.23	26.76	25.87	25.95	25.68	23.36
	3.57	0.44	0.44	0.12	0.12	0.12	0.12	0.12	0.12
	6.36	6.36	4.95	4.41	4.41	4.41	4.41	4.41	4.41
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	59.08	62.56	66.38	67.25	68.71	69.60	69.52	69.80	72.11

Documents

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

2026-08-25

Change in Company Secretary/Compliance Officer

2026-08-25 - MEP Infrastructure Developers Limited has informed the Exchange about Change in Company Secretary/Compliance Officer

2026-07-15

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-15 - MEP Infrastructure Developers Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-06-25

Trading Window

2026-06-25 - MEP Infrastructure Developers Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

2026-06-12

Disclosure under SEBI Takeover Regulations

2026-06-12 - JAYANT D. MHAISKAR has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

2026-06-05

Disclosure under SEBI Takeover Regulations

2026-06-05 - MEP Infrastructure Developers Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

2026-06-03

Corporate Insolvency Resolution Process

2026-06-03 - MEP Infrastructure Developers Limited has informed the Exchange about Corporate Insolvency Resolution Process

2026-06-01

Resignation

2026-06-01 - MEP Infrastructure Developers Limited has informed the Exchange regarding Resignation of Rajendra Pawar as Chief Financial Officer of the company w.e.f. May 31, 2026.

News

Recent coverage and analyst commentary for MEP

Loading news…

🤖

AI Stock Analyst

MEP Infrastructure Developers Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account