MBL Infrastructure Updates: Diversified Civil Engineering Projects and Financial Performance Review through FY26
MBL Infrastructure Limited, an established player in civil engineering projects, continues to expand its footprint across various infrastructure sectors, including Roads & Highways, Building/Housing, and Railways/Metro. Incorporated in 1995, the company maintains a strong market presence, driven by its commitment to complex and large-scale public works.The company has successfully executed numerous major projects across India, solidifying its position as one of the first contractors awarded contracts for prestigious initiatives such as the North South East West Corridor project by NHAI. MBL's core operational strength lies in its comprehensive capabilities, including a large fleet of construction equipment and expertise across multiple state jurisdictions.
Corporate History and Milestones
MBL Infrastructure Limited has a long history marked by significant infrastructure contributions:- 1995: Incorporated as Maheshwari Brothers Ltd.
- 1999: Awarded first batch of contracts for the north-south-eastwest corridor project.
- 2005: Secured the contract for the maintenance of the Ring Road and Outer Ring Road in Delhi.
- 2010: Listed on BSE and NSE.
- 2012: Reached annual revenues of ₹1,000 Cr following a BOT road project milestone.
- 2015: The Waraseoni-Lalbarra BOT road project became operational.
- 2018: A Resolution Plan under the IBC, 2016 was approved.
- 2019: Another BOT (Toll) Road project—the Bikaner-Suratgarh section of NH-62 in Rajasthan—came into operation, and Promoters Holding increased to 74.57%.
Business Segments and Market Focus
MBL's operations are segmented across several critical infrastructure verticals:| Segment | Key Areas Covered |
|---|---|
| Roads & Highways Infrastructure | Construction/EPC, Operations and Maintenance, BOT Projects. |
| Building, Housing & Urban Infrastructure | Execution of industrial and urban infrastructure projects (e.g., housing, building EPC). |
| Railways/Metro & Other Infra | Execution of railway projects including ROBs and RUBs. |
Looking ahead, the company sees substantial opportunities arising from national initiatives, such as the Vision 2047 plan for highway expansion and the Bharatmala Pariyojana Phase-I, which involves a total length of 26,425 km. Furthermore, the 2030 Commonwealth Games in Ahmedabad presents significant market potential.
Financial Performance Summary (Consolidated)
The company provided detailed financial metrics across its consolidated operations for three fiscal years:Profit and Loss Statement (In Crores)
| Particulars | FY24 | FY25 | FY26 |
|---|---|---|---|
| Income* | 253.46 | 248.35 | 271.59 |
| Operating Expenses | 204.48 | 236.81 | 165.57 |
| EBIDTA | 48.98 | 11.54 | 106.02 |
| EBIT Margin | 19.32% | 4.64% | 39.04% |
| Finance Cost | 25.33 | 60.61 | 38.47 |
| Depreciation | 63.08 | 60.52 | 54.29 |
| Profit Before Exceptional Item & Tax | (39.43) | (109.59) | 13.26 |
| Profit After Tax | (39.33) | 169.49 | (22.63) |
| Net Profit/(Loss) after taxes and Non-Controlling Interest | (39.23) | 169.60 | (22.36) |
Balance Sheet (In Crores)
| Particulars | FY24 | FY25 | FY26 |
|---|---|---|---|
| Total Equity (Shareholder's Funds) | 746.77 | 948.32 | 956.00 |
| Borrowings (Non Current) | 901.25 | 639.49 | 683.34 |
| Total Non Current Liabilities | 347.59 | 328.79 | 281.44 |
| Total Assets | 2885.83 | 2999.53 | 2949.61 |
Resolution Plan Status and Financing Facilities
The company's status regarding the IBC, 2016 resolution plan is noted as follows:- Plan Approval: The Resolution Plan dated November 22, 2017, was approved by the NCLT on April 18, 2018.
- Implementation Status: Documents for the implementation of the approved Resolution Plan by banks have been executed, with the date of implementation declared by the Banks as September 4, 2024.
- Financial Support: The company has access to Non Fund Based Facilities (BGs/LCs) amounting to ₹303.63 crores and Fund Based Facilities (Cash Credit) of ₹37.38 crores.
- NCDs: NCDs aggregating to ₹836.74 crores were issued to assenting Banks, repayable in 39 unequated quarterly installments commencing from September 30, 2024.
Project Snapshot
MBL Infrastructure maintains a diverse portfolio, encompassing current projects and completed assignments across various infrastructure types.Current Projects (Roads & Highways Construction)
| S.No. | Project Name | Client | Amount (₹ Lakhs) |
|---|---|---|---|
| 1 | Development & Operation of Bikaner - Suratgarh Section of NH-62 (DBFOT basis) | Ministry of Road Transport & Highways | 65,941 |
Current Projects (Roads & Highways Maintenance)
| S.No. | Project Name | Client | Amount (₹ Lakhs) |
|---|---|---|---|
| 1 | Maintenance of Bikaner - Suratgarh Section of NH-62 | Ministry of Road Transport & Highways | 22,567 |
Current BOT Projects
The company has two active BOT projects: Waraseoni-Lalbarra Road (Toll & Annuity) and Bikaner-Suratgarh (Toll). These projects involve costs of ₹7,398 lakhs and ₹87,355 lakhs respectively, with concession periods set for 15 years (August 2028) and 16 years (September 2029).
MBLINFRA Stock Price Movement
Today, MBL Infrastructure Limited shares edged higher, settling at ₹26.76 after gaining 2.9% in a day's trade. The equity saw a volume of 86,280 shares as it closed for the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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