M&B Engineering Ltd.

•

₹ 273.75-1.56%

2026-08-21

mbel.inBSE: 544470NSE: MBEL

Market Cap₹ 1,593 Cr.

Current Price₹ 278

High / Low₹ 536 / 223

Stock P/E0.0

Book Value₹ 117

Price to Book2.37

Dividend Yield0.36 %

ROCE25.0 %

ROE26.6 %

Face Value₹ 10

Add ratio to table

ABOUT

KEY POINTS

PROS

Company has delivered good profit growth of 46.0% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 23.8%
Company has a healthy return on capital (ROCE) of 23.8%
Operating margins have improved to 13.4% from 8.7%
Company generates healthy free cash flow
Company comfortably covers its interest (6.0x coverage)

CONS

Promoter holding has decreased over last 2 years: -29.4pp
Receivables are growing faster than sales - a possible quality concern
Recent results are weak - TTM profit is down 10.3% versus prior year
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.40x)
Equity base is being diluted - shares outstanding up 150.0%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS

Capital GoodsCapital GoodsEngineering - Industrial Equipments

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

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	BHEL	418.50	59.91	145724.35	0.33	376.71	182.70	7697.72	40.29	9.24	6.69
2.	THERMAX	4024.55	80.82	47955.05	0.50	21.79	-85.61	2302.73	7.09	15.85	2.98
3.	INDOMIM	966.60	89.58	47796.52	0.61	2401.22	—	12187.42	—	24.48	33.36
4.	KIRLOSENG	2081.95	55.47	30296.51	0.34	111.06	-20.05	1999.53	13.36	14.46	15.02
5.	JYOTICNC	951.90	67.29	21648.40	0.00	57.14	-19.99	508.47	23.97	23.88	21.40
6.	AZAD	2827.20	131.38	18258.55	0.00	35.16	19.46	172.60	25.90	12.28	37.29
7.	TRITURBINE	569.95	53.88	18118.62	0.75	51.10	-20.65	442.70	19.23	35.95	11.59
8.	INOXINDIA	1932.55	68.83	17540.50	0.10	58.07	-4.98	370.79	9.18	33.54	20.46
9.	LLOYDSENGG	92.99	64.48	14423.11	0.27	682.30	2172.06	5271.50	2329.15	17.99	15.04
10.	TEGA	1724.35	613.12	12954.64	0.12	-108.25	-406.36	1723.44	383.99	18.56	3.27
11.	KRN	1502.65	101.46	9836.12	0.00	32.90	164.84	252.32	118.87	21.21	19.44
12.	MBEL	278.70	16.49	1593.07	0.36	21.90	22.03	291.10	22.49	26.26	10.54

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	142	182	295	290	228	260	282	314	265
	129	145	264	250	203	231	242	286	251
Operating Profit	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—
Other Income	3	2	1	2	4	3	4	6	5
Interest	5	5	4	5	6	4	4	3	3
Depreciation	2	3	3	4	4	4	4	4	4
	10	30	24	34	20	24	35	26	19
Tax %	23.44%	26.15%	33.87%	17.75%	24.60%	23.03%	26.95%	26.16%	24.79%
Net Profit	7	22	16	28	15	18	26	19	15
	1	4	3	6	3	3	4	3	0
Equity Capital	50	50	50	50	50	57	57	57	57
Reserves	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%
Equity Capital	50	50	50	50	50	57	57	57	57
Reserves	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%

Jun 2024

: 142
: 129
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 5
Depreciation: 2
: 10
Tax %: 23.44%
Net Profit: 7
: 1
Equity Capital: 50
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 50
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2024

: 182
: 145
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 5
Depreciation: 3
: 30
Tax %: 26.15%
Net Profit: 22
: 4
Equity Capital: 50
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 50
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2024

: 295
: 264
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 4
Depreciation: 3
: 24
Tax %: 33.87%
Net Profit: 16
: 3
Equity Capital: 50
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 50
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2025

: 290
: 250
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 5
Depreciation: 4
: 34
Tax %: 17.75%
Net Profit: 28
: 6
Equity Capital: 50
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 50
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 228
: 203
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 6
Depreciation: 4
: 20
Tax %: 24.60%
Net Profit: 15
: 3
Equity Capital: 50
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 50
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 260
: 231
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 4
Depreciation: 4
: 24
Tax %: 23.03%
Net Profit: 18
: 3
Equity Capital: 57
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 57
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2025

: 282
: 242
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 4
Depreciation: 4
: 35
Tax %: 26.95%
Net Profit: 26
: 4
Equity Capital: 57
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 57
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2026

: 314
: 286
Operating Profit: —
OPM %: —
Other Income: 6
Interest: 3
Depreciation: 4
: 26
Tax %: 26.16%
Net Profit: 19
: 3
Equity Capital: 57
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 57
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2026

: 265
: 251
Operating Profit: —
OPM %: —
Other Income: 5
Interest: 3
Depreciation: 4
: 19
Tax %: 24.79%
Net Profit: 15
: 0
Equity Capital: 57
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 57
Reserves: 0
Promoter Pledge %: 0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	548	414	439	623	520	413	687	859	787	909	1,121
	513	385	403	578	482	385	634	787	706	787	1,010
Operating Profit	37	33	38	48	43	36	59	80	95	131	—
OPM %	7	8	9	8	8	9	9	9	12	14	—
Other Income	2	4	2	3	5	8	6	9	14	9	18
Interest	21	17	19	18	17	15	18	18	23	20	14
Depreciation	8	8	8	8	9	9	9	9	9	12	15
	8	7	12	21	17	12	33	52	63	99	105
Tax %	40	32	37	29	35	36	20	24	24	25	25
Net Profit	5	5	8	15	11	8	26	40	48	74	78
EPS	0	3	4	8	6	4	13	8	10	15	—
Dividend Payout %	0	0	0	0	0	0	0	0	0	0	—
Minority Interest	0	0	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	1	1	2	3	2	2	5	8	10	15	—
Minority Interest	0	0	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	1	1	2	3	2	2	5	8	10	15	—

Mar 2016

: 548
: 513
Operating Profit: 37
OPM %: 7
Other Income: 2
Interest: 21
Depreciation: 8
: 8
Tax %: 40
Net Profit: 5
EPS: 0
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1

Mar 2017

: 414
: 385
Operating Profit: 33
OPM %: 8
Other Income: 4
Interest: 17
Depreciation: 8
: 7
Tax %: 32
Net Profit: 5
EPS: 3
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1

Mar 2018

: 439
: 403
Operating Profit: 38
OPM %: 9
Other Income: 2
Interest: 19
Depreciation: 8
: 12
Tax %: 37
Net Profit: 8
EPS: 4
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

Mar 2019

: 623
: 578
Operating Profit: 48
OPM %: 8
Other Income: 3
Interest: 18
Depreciation: 8
: 21
Tax %: 29
Net Profit: 15
EPS: 8
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3

Mar 2020

: 520
: 482
Operating Profit: 43
OPM %: 8
Other Income: 5
Interest: 17
Depreciation: 9
: 17
Tax %: 35
Net Profit: 11
EPS: 6
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

Mar 2021

: 413
: 385
Operating Profit: 36
OPM %: 9
Other Income: 8
Interest: 15
Depreciation: 9
: 12
Tax %: 36
Net Profit: 8
EPS: 4
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

Mar 2022

: 687
: 634
Operating Profit: 59
OPM %: 9
Other Income: 6
Interest: 18
Depreciation: 9
: 33
Tax %: 20
Net Profit: 26
EPS: 13
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5

Mar 2023

: 859
: 787
Operating Profit: 80
OPM %: 9
Other Income: 9
Interest: 18
Depreciation: 9
: 52
Tax %: 24
Net Profit: 40
EPS: 8
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8

Mar 2024

: 787
: 706
Operating Profit: 95
OPM %: 12
Other Income: 14
Interest: 23
Depreciation: 9
: 63
Tax %: 24
Net Profit: 48
EPS: 10
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 10
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 10

Mar 2025

: 909
: 787
Operating Profit: 131
OPM %: 14
Other Income: 9
Interest: 20
Depreciation: 12
: 99
Tax %: 25
Net Profit: 74
EPS: 15
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 15
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 15

TTM

: 1,121
: 1,010
Operating Profit: —
OPM %: —
Other Income: 18
Interest: 14
Depreciation: 15
: 105
Tax %: 25
Net Profit: 78
EPS: —
Dividend Payout %: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: 6%
5 Years:: 12%
3 Years:: 10%

COMPOUNDED PROFIT GROWTH

10 Years:: 38%
5 Years:: 46%
3 Years:: 41%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -40%

RETURN ON EQUITY

10 Years:: 14%
5 Years:: 19%
3 Years:: 24%
Last Year:: 27%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	20	20	20	20	20	20	20	20	50	50
	61	66	74	89	100	108	134	175	191	264
	24	34	69	53	52	34	26	52	159	123
Trade Payables	67	38	96	129	139	102	193	130	94	215
	141	134	106	99	115	135	157	178	127	182
Total Liabilities	312	293	365	391	427	398	530	555	622	834
ASSETS	-	-	-	-	-	-	-	-	-	-
	75	71	65	71	68	63	63	74	77	175
Capital Work in Progress	0	0	0	0	0	0	0	0	66	2
	0	0	0	0	3	7	9	10	20	19
	29	34	112	120	128	114	183	164	193	322
	0	0	0	0	0	0	0	0	121	166
Cash & Bank	20	25	28	41	91	82	91	124	89	80
	188	163	160	159	138	133	183	183	55	70
Total Assets	312	293	365	391	427	398	530	555	622	834
Total Debt	128	123	123	93	114	104	92	141	204	186
Net Working Capital	96	95	76	81	112	126	147	200	122	178
Contingent Liabilities	67	72	69	31	52	52	0	82	82	88
Book Value per Share	40.67	43.21	46.96	54.55	60.12	63.93	77.11	97.26	48.30	62.89
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00
Total Debt	128	123	123	93	114	104	92	141	204	186
Net Working Capital	96	95	76	81	112	126	147	200	122	178
Contingent Liabilities	67	72	69	31	52	52	0	82	82	88
Book Value per Share	40.67	43.21	46.96	54.55	60.12	63.93	77.11	97.26	48.30	62.89
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00

Mar 2016

Equity Capital: 20
: 61
: 24
Trade Payables: 67
: 141
Total Liabilities: 312
: 75
Capital Work in Progress: 0
: 0
: 29
: 0
Cash & Bank: 20
: 188
Total Assets: 312
Total Debt: 128
Net Working Capital: 96
Contingent Liabilities: 67
Book Value per Share: 40.67
Face Value: 10.00
Total Debt: 128
Net Working Capital: 96
Contingent Liabilities: 67
Book Value per Share: 40.67
Face Value: 10.00

Mar 2017

Equity Capital: 20
: 66
: 34
Trade Payables: 38
: 134
Total Liabilities: 293
: 71
Capital Work in Progress: 0
: 0
: 34
: 0
Cash & Bank: 25
: 163
Total Assets: 293
Total Debt: 123
Net Working Capital: 95
Contingent Liabilities: 72
Book Value per Share: 43.21
Face Value: 10.00
Total Debt: 123
Net Working Capital: 95
Contingent Liabilities: 72
Book Value per Share: 43.21
Face Value: 10.00

Mar 2018

Equity Capital: 20
: 74
: 69
Trade Payables: 96
: 106
Total Liabilities: 365
: 65
Capital Work in Progress: 0
: 0
: 112
: 0
Cash & Bank: 28
: 160
Total Assets: 365
Total Debt: 123
Net Working Capital: 76
Contingent Liabilities: 69
Book Value per Share: 46.96
Face Value: 10.00
Total Debt: 123
Net Working Capital: 76
Contingent Liabilities: 69
Book Value per Share: 46.96
Face Value: 10.00

Mar 2019

Equity Capital: 20
: 89
: 53
Trade Payables: 129
: 99
Total Liabilities: 391
: 71
Capital Work in Progress: 0
: 0
: 120
: 0
Cash & Bank: 41
: 159
Total Assets: 391
Total Debt: 93
Net Working Capital: 81
Contingent Liabilities: 31
Book Value per Share: 54.55
Face Value: 10.00
Total Debt: 93
Net Working Capital: 81
Contingent Liabilities: 31
Book Value per Share: 54.55
Face Value: 10.00

Mar 2020

Equity Capital: 20
: 100
: 52
Trade Payables: 139
: 115
Total Liabilities: 427
: 68
Capital Work in Progress: 0
: 3
: 128
: 0
Cash & Bank: 91
: 138
Total Assets: 427
Total Debt: 114
Net Working Capital: 112
Contingent Liabilities: 52
Book Value per Share: 60.12
Face Value: 10.00
Total Debt: 114
Net Working Capital: 112
Contingent Liabilities: 52
Book Value per Share: 60.12
Face Value: 10.00

Mar 2021

Equity Capital: 20
: 108
: 34
Trade Payables: 102
: 135
Total Liabilities: 398
: 63
Capital Work in Progress: 0
: 7
: 114
: 0
Cash & Bank: 82
: 133
Total Assets: 398
Total Debt: 104
Net Working Capital: 126
Contingent Liabilities: 52
Book Value per Share: 63.93
Face Value: 10.00
Total Debt: 104
Net Working Capital: 126
Contingent Liabilities: 52
Book Value per Share: 63.93
Face Value: 10.00

Mar 2022

Equity Capital: 20
: 134
: 26
Trade Payables: 193
: 157
Total Liabilities: 530
: 63
Capital Work in Progress: 0
: 9
: 183
: 0
Cash & Bank: 91
: 183
Total Assets: 530
Total Debt: 92
Net Working Capital: 147
Contingent Liabilities: 0
Book Value per Share: 77.11
Face Value: 10.00
Total Debt: 92
Net Working Capital: 147
Contingent Liabilities: 0
Book Value per Share: 77.11
Face Value: 10.00

Mar 2023

Equity Capital: 20
: 175
: 52
Trade Payables: 130
: 178
Total Liabilities: 555
: 74
Capital Work in Progress: 0
: 10
: 164
: 0
Cash & Bank: 124
: 183
Total Assets: 555
Total Debt: 141
Net Working Capital: 200
Contingent Liabilities: 82
Book Value per Share: 97.26
Face Value: 10.00
Total Debt: 141
Net Working Capital: 200
Contingent Liabilities: 82
Book Value per Share: 97.26
Face Value: 10.00

Mar 2024

Equity Capital: 50
: 191
: 159
Trade Payables: 94
: 127
Total Liabilities: 622
: 77
Capital Work in Progress: 66
: 20
: 193
: 121
Cash & Bank: 89
: 55
Total Assets: 622
Total Debt: 204
Net Working Capital: 122
Contingent Liabilities: 82
Book Value per Share: 48.30
Face Value: 10.00
Total Debt: 204
Net Working Capital: 122
Contingent Liabilities: 82
Book Value per Share: 48.30
Face Value: 10.00

Mar 2025

Equity Capital: 50
: 264
: 123
Trade Payables: 215
: 182
Total Liabilities: 834
: 175
Capital Work in Progress: 2
: 19
: 322
: 166
Cash & Bank: 80
: 70
Total Assets: 834
Total Debt: 186
Net Working Capital: 178
Contingent Liabilities: 88
Book Value per Share: 62.89
Face Value: 10.00
Total Debt: 186
Net Working Capital: 178
Contingent Liabilities: 88
Book Value per Share: 62.89
Face Value: 10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	2	35	20	65	48	20	40	34	-1	32
Cash from Investing	-6	-3	-2	-11	-4	-14	-12	-16	-73	-31
Cash from Financing	-16	-28	-15	-44	9	-23	-25	30	39	-38
	-21	4	3	10	52	-17	2	47	-34	-37
Free Cash Flow	-5	31	18	51	43	17	31	17	-80	-14
OCF / Net Profit	0.35	6.95	2.67	4.26	4.27	2.59	1.50	0.85	-0.02	0.43
Cumulative 5-Year FCF	0	0	0	0	138	161	160	158	28	-29
OCF / Net Profit	0.35	6.95	2.67	4.26	4.27	2.59	1.50	0.85	-0.02	0.43
Cumulative 5-Year FCF	0	0	0	0	138	161	160	158	28	-29

Mar 2016

: 2
Cash from Investing: -6
Cash from Financing: -16
: -21
Free Cash Flow: -5
OCF / Net Profit: 0.35
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.35
Cumulative 5-Year FCF: 0

Mar 2017

: 35
Cash from Investing: -3
Cash from Financing: -28
: 4
Free Cash Flow: 31
OCF / Net Profit: 6.95
Cumulative 5-Year FCF: 0
OCF / Net Profit: 6.95
Cumulative 5-Year FCF: 0

Mar 2018

: 20
Cash from Investing: -2
Cash from Financing: -15
: 3
Free Cash Flow: 18
OCF / Net Profit: 2.67
Cumulative 5-Year FCF: 0
OCF / Net Profit: 2.67
Cumulative 5-Year FCF: 0

Mar 2019

: 65
Cash from Investing: -11
Cash from Financing: -44
: 10
Free Cash Flow: 51
OCF / Net Profit: 4.26
Cumulative 5-Year FCF: 0
OCF / Net Profit: 4.26
Cumulative 5-Year FCF: 0

Mar 2020

: 48
Cash from Investing: -4
Cash from Financing: 9
: 52
Free Cash Flow: 43
OCF / Net Profit: 4.27
Cumulative 5-Year FCF: 138
OCF / Net Profit: 4.27
Cumulative 5-Year FCF: 138

Mar 2021

: 20
Cash from Investing: -14
Cash from Financing: -23
: -17
Free Cash Flow: 17
OCF / Net Profit: 2.59
Cumulative 5-Year FCF: 161
OCF / Net Profit: 2.59
Cumulative 5-Year FCF: 161

Mar 2022

: 40
Cash from Investing: -12
Cash from Financing: -25
: 2
Free Cash Flow: 31
OCF / Net Profit: 1.50
Cumulative 5-Year FCF: 160
OCF / Net Profit: 1.50
Cumulative 5-Year FCF: 160

Mar 2023

: 34
Cash from Investing: -16
Cash from Financing: 30
: 47
Free Cash Flow: 17
OCF / Net Profit: 0.85
Cumulative 5-Year FCF: 158
OCF / Net Profit: 0.85
Cumulative 5-Year FCF: 158

Mar 2024

: -1
Cash from Investing: -73
Cash from Financing: 39
: -34
Free Cash Flow: -80
OCF / Net Profit: -0.02
Cumulative 5-Year FCF: 28
OCF / Net Profit: -0.02
Cumulative 5-Year FCF: 28

Mar 2025

: 32
Cash from Investing: -31
Cash from Financing: -38
: -37
Free Cash Flow: -14
OCF / Net Profit: 0.43
Cumulative 5-Year FCF: -29
OCF / Net Profit: 0.43
Cumulative 5-Year FCF: -29

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE	-	-	-	-	-	-	-	-	-	-
EPS (₹)	2.26	2.54	3.75	7.59	5.57	3.81	13.18	19.81	9.61	14.80
Book Value (₹)	40.67	43.21	46.96	54.55	60.12	63.93	77.11	97.26	48.30	62.89
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 (₹)	2.56	2.64	3.10	4.66	3.96	3.25	7.02	9.80	11.37	17.30
PROFITABILITY	-	-	-	-	-	-	-	-	-	-
Operating Margin %	6.49%	7.48%	8.74%	7.71%	8.17%	8.70%	8.65%	9.32%	10.31%	13.41%
Net Margin %	0.79%	1.17%	1.71%	2.43%	2.14%	1.85%	3.84%	4.62%	6.11%	8.14%
ROE %	5.72%	6.05%	8.32%	14.95%	9.72%	6.15%	18.70%	22.73%	22.05%	26.63%
ROCE %	13.39%	11.67%	14.26%	18.79%	15.51%	11.71%	21.24%	24.28%	22.02%	25.00%
	1.42%	1.68%	2.28%	4.02%	2.72%	1.85%	5.68%	7.31%	8.17%	10.17%
EFFICIENCY	-	-	-	-	-	-	-	-	-	-
Debtor Days	76	106	90	66	77	80	56	51	55	57
Inventory Days	29	26	60	68	87	107	79	74	83	103
Payable Days	52	68	85	100	151	175	120	100	80	98
	53	64	66	34	14	13	15	25	58	63
FINANCIAL HEALTH	-	-	-	-	-	-	-	-	-	-
Debt to Equity (x)	1.57x	1.42x	1.31x	0.85x	0.95x	0.81x	0.60x	0.72x	0.84x	0.59x
Interest Coverage (x)	1.36x	1.44x	1.64x	2.19x	2.03x	1.77x	2.85x	3.82x	3.75x	6.01x
	1.77x	1.82x	1.36x	1.35x	1.47x	1.65x	1.48x	1.75x	1.37x	1.39x
GROWTH	-	-	-	-	-	-	-	-	-	-
Revenue Growth %	12.71%	-24.45%	6.16%	41.92%	-16.57%	-20.57%	66.45%	24.90%	-8.32%	15.49%
Operating Profit Growth %	17.89%	-12.52%	17.97%	25.28%	-11.56%	-15.48%	65.52%	34.54%	18.36%	38.01%
Net Profit Growth %	55.35%	12.12%	47.87%	102.24%	-26.59%	-31.57%	245.92%	50.30%	21.29%	53.97%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-51.49%	53.97%
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	1.74x	1.19x

Mar 2016

EPS (₹): 2.26
Book Value (₹): 40.67
Dividend per Share (₹): 0.00
Cash EPS (₹): 2.56
Operating Margin %: 6.49%
Net Margin %: 0.79%
ROE %: 5.72%
ROCE %: 13.39%
: 1.42%
Debtor Days: 76
Inventory Days: 29
Payable Days: 52
: 53
Debt to Equity (x): 1.57x
Interest Coverage (x): 1.36x
: 1.77x
Revenue Growth %: 12.71%
Operating Profit Growth %: 17.89%
Net Profit Growth %: 55.35%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2017

EPS (₹): 2.54
Book Value (₹): 43.21
Dividend per Share (₹): 0.00
Cash EPS (₹): 2.64
Operating Margin %: 7.48%
Net Margin %: 1.17%
ROE %: 6.05%
ROCE %: 11.67%
: 1.68%
Debtor Days: 106
Inventory Days: 26
Payable Days: 68
: 64
Debt to Equity (x): 1.42x
Interest Coverage (x): 1.44x
: 1.82x
Revenue Growth %: -24.45%
Operating Profit Growth %: -12.52%
Net Profit Growth %: 12.12%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2018

EPS (₹): 3.75
Book Value (₹): 46.96
Dividend per Share (₹): 0.00
Cash EPS (₹): 3.10
Operating Margin %: 8.74%
Net Margin %: 1.71%
ROE %: 8.32%
ROCE %: 14.26%
: 2.28%
Debtor Days: 90
Inventory Days: 60
Payable Days: 85
: 66
Debt to Equity (x): 1.31x
Interest Coverage (x): 1.64x
: 1.36x
Revenue Growth %: 6.16%
Operating Profit Growth %: 17.97%
Net Profit Growth %: 47.87%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2019

EPS (₹): 7.59
Book Value (₹): 54.55
Dividend per Share (₹): 0.00
Cash EPS (₹): 4.66
Operating Margin %: 7.71%
Net Margin %: 2.43%
ROE %: 14.95%
ROCE %: 18.79%
: 4.02%
Debtor Days: 66
Inventory Days: 68
Payable Days: 100
: 34
Debt to Equity (x): 0.85x
Interest Coverage (x): 2.19x
: 1.35x
Revenue Growth %: 41.92%
Operating Profit Growth %: 25.28%
Net Profit Growth %: 102.24%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2020

EPS (₹): 5.57
Book Value (₹): 60.12
Dividend per Share (₹): 0.00
Cash EPS (₹): 3.96
Operating Margin %: 8.17%
Net Margin %: 2.14%
ROE %: 9.72%
ROCE %: 15.51%
: 2.72%
Debtor Days: 77
Inventory Days: 87
Payable Days: 151
: 14
Debt to Equity (x): 0.95x
Interest Coverage (x): 2.03x
: 1.47x
Revenue Growth %: -16.57%
Operating Profit Growth %: -11.56%
Net Profit Growth %: -26.59%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2021

EPS (₹): 3.81
Book Value (₹): 63.93
Dividend per Share (₹): 0.00
Cash EPS (₹): 3.25
Operating Margin %: 8.70%
Net Margin %: 1.85%
ROE %: 6.15%
ROCE %: 11.71%
: 1.85%
Debtor Days: 80
Inventory Days: 107
Payable Days: 175
: 13
Debt to Equity (x): 0.81x
Interest Coverage (x): 1.77x
: 1.65x
Revenue Growth %: -20.57%
Operating Profit Growth %: -15.48%
Net Profit Growth %: -31.57%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 13.18
Book Value (₹): 77.11
Dividend per Share (₹): 0.00
Cash EPS (₹): 7.02
Operating Margin %: 8.65%
Net Margin %: 3.84%
ROE %: 18.70%
ROCE %: 21.24%
: 5.68%
Debtor Days: 56
Inventory Days: 79
Payable Days: 120
: 15
Debt to Equity (x): 0.60x
Interest Coverage (x): 2.85x
: 1.48x
Revenue Growth %: 66.45%
Operating Profit Growth %: 65.52%
Net Profit Growth %: 245.92%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 19.81
Book Value (₹): 97.26
Dividend per Share (₹): 0.00
Cash EPS (₹): 9.80
Operating Margin %: 9.32%
Net Margin %: 4.62%
ROE %: 22.73%
ROCE %: 24.28%
: 7.31%
Debtor Days: 51
Inventory Days: 74
Payable Days: 100
: 25
Debt to Equity (x): 0.72x
Interest Coverage (x): 3.82x
: 1.75x
Revenue Growth %: 24.90%
Operating Profit Growth %: 34.54%
Net Profit Growth %: 50.30%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 9.61
Book Value (₹): 48.30
Dividend per Share (₹): 0.00
Cash EPS (₹): 11.37
Operating Margin %: 10.31%
Net Margin %: 6.11%
ROE %: 22.05%
ROCE %: 22.02%
: 8.17%
Debtor Days: 55
Inventory Days: 83
Payable Days: 80
: 58
Debt to Equity (x): 0.84x
Interest Coverage (x): 3.75x
: 1.37x
Revenue Growth %: -8.32%
Operating Profit Growth %: 18.36%
Net Profit Growth %: 21.29%
: -51.49%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 1.74x

Mar 2025

EPS (₹): 14.80
Book Value (₹): 62.89
Dividend per Share (₹): 0.00
Cash EPS (₹): 17.30
Operating Margin %: 13.41%
Net Margin %: 8.14%
ROE %: 26.63%
ROCE %: 25.00%
: 10.17%
Debtor Days: 57
Inventory Days: 103
Payable Days: 98
: 63
Debt to Equity (x): 0.59x
Interest Coverage (x): 6.01x
: 1.39x
Revenue Growth %: 15.49%
Operating Profit Growth %: 38.01%
Net Profit Growth %: 53.97%
: 53.97%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 1.19x

Shareholding Pattern

Numbers in percentages

TRADES

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Aug 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	100.00	100.00	100.00	100.00	70.45	70.45	70.45	70.54	70.61
	0.00	0.00	0.00	0.00	6.16	4.75	4.25	2.86	0.84
	0.00	0.00	0.00	0.00	15.03	13.46	10.24	9.72	9.58
Government	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	8.36	11.35	15.06	16.88	18.96

Mar 2020

: 100.00
: 0.00
: 0.00
Government: 0.00
: 0.00

Mar 2021

: 100.00
: 0.00
: 0.00
Government: 0.00
: 0.00

Mar 2022

: 100.00
: 0.00
: 0.00
Government: 0.00
: 0.00

Mar 2023

: 100.00
: 0.00
: 0.00
Government: 0.00
: 0.00

Aug 2025

: 70.45
: 6.16
: 15.03
Government: 0.00
: 8.36

Sep 2025

: 70.45
: 4.75
: 13.46
Government: 0.00
: 11.35

Dec 2025

: 70.45
: 4.25
: 10.24
Government: 0.00
: 15.06

Mar 2026

: 70.54
: 2.86
: 9.72
Government: 0.00
: 16.88

Jun 2026

: 70.61
: 0.84
: 9.58
Government: 0.00
: 18.96

Documents

Announcements

Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-19 - M & B Engineering Limited has informed the Exchange about Schedule of meet
Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-14 - M & B Engineering Limited has informed the Exchange about Transcript

Annual Reports

Nothing filed yet.

Credit Ratings

Nothing filed yet.

Concalls

Aug 2026
Transcript PPTREC
Jun 2026
Transcript PPTREC
May 2026
TranscriptPPTREC