On 6 Nov 2026, M & B Engineering was priced at ₹281.95, or 22.4× trailing earnings, against an industry P/E of 16.4×, and the shares are 47% below their 52-week high. It earns ROCE of 20% and ROE of 16%, and sales and net profit grew 13% and 41% a year over 3 years. Its dividend yield is 0.3%, and debt is 0.16× equity. It is a small-cap company with a market cap of ₹1,612 Cr, ranked 48th of 156 Engineering & Construction companies by market cap; the shares fell 36% over the past year.
- ₹283.15
- ₹287.55
- ₹278.50
- ₹290.35
- 3.8 L
Health check
- ReturnsBehind
−35.5% over a year, better than 1 of 7 peers.
- Price tagPricier
P/E 22.4 vs industry 16.4.
- GrowthSteady
Sales +12.7%, profit +41.2% a year over 3 years.
- ProfitabilityStrong
ROCE 20.4% vs peer median 19.9%.
- Balance sheetSolid
Debt 0.16× equity, interest covered 10.3×.
- Red flags1 to check
47% below its 52-week high.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹1,612 Cr
- Small cap
- P/E
- 22.4
- Industry 16.4
- Price to book
- 2.31
- Peers 4.92
- Dividend yield
- 0.35%
- ROE
- 16.0%
- Peers 17.9%
- ROCE
- 20.4%
- Peers 19.9%
- Debt to equity
- 0.16
- Debt ₹111 Cr
- EPS (TTM)
- ₹12.58
- Face value ₹10
- OPM (TTM)
- 10.9%
- Net margin 7.5%
- Sales growth
- +22.5%
- Latest quarter vs a year ago
- Profit growth
- +22.0%
- Latest quarter vs a year ago
- Price to sales
- 1.16
- EV/EBITDA 9.6
Strengths and risks
Strengths
- Return on capital employed of 20.4%.
- Quarterly profit up 22.0% on a year ago.
- Quarterly sales up 22.5% on a year ago.
Risks to check
- 47% below its 52-week high.
About M & B Engineering
M & B Engineering Limited, an engineering company, engages in the design, manufacturing, and installation of pre-engineered metal buildings, self-supported steel roofing, and complex steel components. The company manufactures structural steel components for projects, including construction of bridges, flyovers, power plant structures, and other industrial applications. It serves general engineering and manufacturing, food and beverages, warehousing and…
- Headquarters
- Ahmedabad
- Employees
- 1,631
- Sector
- Industrials
- ISIN
- INE08N601015
- Website
- mbel.in
Price range
- Avg volume (3M)
- 8.4 L
- 1-year return
- minus 35.5%
- From 52-week high
- minus 47.4%
Peers · Engineering & Construction
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| LTLarsen & Toubro | 4,117.70 | plus 1.67% | 5,66,549 | 31.7 | 19.6 | 14.6% | 9.6% | 1.05 | 16.1% | plus 3.2% |
| RVNLRail Vikas Nigam | 193.34 | minus 0.18% | 40,312 | 44.9 | 56.9 | 11.0% | 4.3% | 0.49 | 0.2% | minus 40.5% |
| CEMPROCemindia Projects | 1,323.30 | plus 2.79% | 24,405 | 36.4 | 24.2 | 37.1% | 10.4% | 0.35 | 25.5% | plus 49.2% |
| KPILKalpataru Projects International | 1,370.80 | minus 0.04% | 23,410 | 19.7 | 10.1 | 19.9% | 8.3% | 0.46 | 18.4% | plus 4.3% |
| NBCCNBCC (India) | 78.00 | minus 2.90% | 21,060 | 26.5 | 19.8 | 34.3% | 6.1% | 0.00 | 12.9% | minus 29.5% |
| ENGINERSINEngineers India | 292.70 | minus 1.94% | 16,451 | 18.3 | 21.5 | 28.1% | 21.2% | 0.00 | 5.7% | plus 51.1% |
| WABAGVA Tech Wabag | 1,988.20 | plus 6.57% | 12,434 | 29.4 | 20.8 | 16.3% | 10.9% | 0.09 | 9.9% | plus 33.2% |
| MBELM & B Engineering | 281.95 | minus 2.89% | 1,612 | 22.4 | 11.3 | – | 9.3% | 0.13 | 12.7% | minus 35.5% |
| Median of 7 peers | – | −0.04% | 23,410 | 29.4 | 20.8 | 19.9% | 9.6% | 0.35 | 12.9% | 4.3% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 238 | 307 | 352 | 364 | 291 | |
| 208 | 272 | 312 | 326 | 260 | |
| 29.5 | 34.5 | 39.7 | 37.9 | 30.7 | |
| 12.4% | 11.2% | 11.3% | 10.4% | 10.5% | |
| 4.2 | 2.3 | 3.8 | 5.3 | 5.1 | |
| 5.7 | 4.4 | 4 | 3.4 | 2.8 | |
| 3.6 | 3.7 | 3.8 | 4 | 3.7 | |
| – | – | −1.2 | – | – | |
| 24.4 | 28.8 | 34.6 | 35.8 | 29.3 | |
| 26.5% | 22.8% | 26.3% | 24.5% | 25.2% | |
| 17.9 | 22.2 | 25.5 | 27 | 21.9 | |
| 3.14 | 4.07 | 4.46 | 4.76 | 3.75 |
Profit & loss
- Sales CAGR 3Y
- +12.7%
- Profit CAGR 3Y
- +41.2%
- EPS CAGR 3Y
- +43.3%
- ROE
- 16.0%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 880 | 795 | 989 | 1,260 | |
| – | minus 9.7% | +24.3% | +27.4% | |
| 809 | 710 | 859 | 1,110 | |
| 71.2 | 85.5 | 130 | 149 | |
| 8.1% | 10.8% | 13.1% | 11.9% | |
| −0.2 | 2.2 | 2.5 | −0.6 | |
| 15.4 | 18.4 | 16 | 13.3 | |
| 10.3 | 8.9 | 12.5 | 15.1 | |
| 0.2 | 0.5 | −1.7 | 3.2 | |
| 45.5 | 60.9 | 102 | 124 | |
| 27.7% | 25.0% | 24.6% | 25.0% | |
| 32.9 | 45.6 | 77 | 92.6 | |
| – | +38.7% | +68.8% | +20.2% | |
| 5.76 | 7.99 | 13.48 | 16.94 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 20 | 50 | 50 | 57.1 | |
| 161 | 183 | 257 | 600 | |
| 150 | 205 | 191 | 83.5 | |
| 228 | 195 | 352 | 420 | |
| 559 | 633 | 849 | 1,161 | |
| 77.4 | 142 | 175 | 206 | |
| 1.9 | 66.2 | 2.2 | 30 | |
| 5.1 | 6.9 | 5.1 | 4.3 | |
| 98.2 | 73.4 | 29.6 | 95.8 | |
| 376 | 344 | 637 | 824 | |
| 559 | 633 | 849 | 1,161 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 29 | 5.7 | 33.2 | −30.9 | |
| −11.9 | −62.3 | −31.7 | −39.2 | |
| 29.7 | 31.9 | −45.3 | 136 | |
| 46.8 | −24.8 | −43.8 | 66.1 | |
| −18.2 | −78.1 | −39.9 | −33.4 | |
| 10.8 | −72.4 | −6.7 | −64.3 |
Shareholding pattern
- Promoters70.60%
- Public29.40%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 70.60% | 29.40% | minus 0.01 | |
| 30 Jun 2026 | 70.61% | 29.39% | plus 0.07 | |
| 31 Mar 2026 | 70.54% | 29.46% | plus 0.09 | |
| 31 Dec 2025 | 70.45% | 29.55% | 0.00 | |
| 30 Sep 2025 | 70.45% | 29.55% | – |
Major shareholders
Filings & events
News
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