On 6 Nov 2026, Modern Engineering and Projects was priced at ₹23.16, or 4.9× trailing earnings, against an industry P/E of 16.4×, and the shares are 52% below their 52-week high. Sales grew 21% a year over 3 years; its ROCE of 13% is the second-lowest among the 7 largest Engineering & Construction peers. Debt is 0.55× equity. It is a small-cap company with a market cap of ₹36 Cr, ranked 136th of 156 Engineering & Construction companies by market cap; the shares fell 40% over the past year.
- ₹22.40
- ₹23.99
- ₹21.71
- ₹22.29
- 14.1K
Health check
- ReturnsBehind
−40.4% over a year, better than 1 of 7 peers.
- Price tagCheaper
P/E 4.9 vs industry 16.4.
- GrowthStrong
Sales +20.9% a year over 3 years.
- ProfitabilityWeak
ROCE 13.5% vs peer median 19.9%.
- Balance sheetFair
Debt 0.55× equity, interest covered 13.2×, Piotroski 4 of 9.
- Red flags3 to check
Quarterly profit down 62.5% on a year ago.
Small cap
Defensive
Key metrics
- Market cap
- ₹36 Cr
- Small cap
- P/E
- 4.9
- Industry 16.4
- Price to book
- 0.55
- Peers 4.92
- Dividend yield
- 0.00%
- ROE
- 14.1%
- Peers 17.9%
- ROCE
- 13.5%
- Peers 19.9%
- Debt to equity
- 0.55
- Debt ₹36 Cr
- EPS (TTM)
- ₹4.75
- OPM (TTM)
- 10.7%
- Net margin 7.1%
- Sales growth
- −58.6%
- Latest quarter vs a year ago
- Profit growth
- −62.5%
- Latest quarter vs a year ago
- Price to sales
- 0.34
- EV/EBITDA 4.9
Strengths and risks
Strengths
- P/E of 4.9 against an industry P/E of 16.4.
Risks to check
- Quarterly profit down 62.5% on a year ago.
- Quarterly sales down 58.6% on a year ago.
- 52% below its 52-week high.
About Modern Engineering and Projects
Modern Engineering and Projects Limited engages in the construction and development of infrastructure projects in India. It undertakes contracts for various infrastructure projects, including transportation engineering, civil construction, other works, etc. The company was formerly known as Modern Converters Limited. Modern Engineering and Projects Limited was incorporated in 1946 and is based in Mumbai, India.
- Headquarters
- Mumbai
- Employees
- 71
- Sector
- Industrials
- ISIN
- INE250S01015
- Website
- mep.ltd
Price range
- Avg volume (3M)
- 46.2K
- 1-year return
- minus 40.4%
- From 52-week high
- minus 51.7%
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% |
| MEAPLModern Engineering and Projects | 23.16 | plus 3.90% | 36 | 4.9 | 5.5 | 13.5% | 10.7% | 0.55 | 20.9% | minus 40.4% |
| 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 |
|---|---|---|---|---|---|
| 30.9 | 16.4 | 24.8 | 47.6 | 12.8 | |
| 28.2 | 13 | 20.3 | 46.8 | 10.7 | |
| 2.8 | 3.4 | 4.5 | 0.8 | 2.1 | |
| 8.9% | 20.5% | 18.2% | 1.7% | 16.7% | |
| 0.5 | 1.6 | 0.5 | 0.4 | 0 | |
| 0.5 | – | 0.2 | 0.4 | 0.8 | |
| 0.6 | 0.6 | 0.5 | 0.5 | 0.3 | |
| – | – | – | 0.1 | – | |
| 2.2 | 4.4 | 4.3 | 0.5 | 1 | |
| 19.2% | 32.7% | 22.1% | 24.8% | 33.3% | |
| 1.8 | 2.9 | 3.4 | 0.4 | 0.7 | |
| 1.17 | 1.90 | 2.18 | – | 0.44 |
Profit & loss
- Sales CAGR 3Y
- +20.9%
- ROE
- 14.1%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 67.8 | 93.2 | 95.6 | 120 | |
| – | +37.5% | +2.6% | +25.3% | |
| 70.5 | 83.3 | 88.2 | 108 | |
| −2.7 | 9.9 | 7.4 | 11.4 | |
| −3.9% | 10.7% | 7.7% | 9.6% | |
| 1.6 | 0.6 | 1.2 | 2.9 | |
| 0.3 | 1 | 0.6 | 0.9 | |
| 1.4 | 2.8 | 1.8 | 2.1 | |
| – | – | 1.1 | 0.1 | |
| −2.8 | 6.7 | 7.3 | 11.4 | |
| 5.8% | 45.5% | −0.1% | 25.7% | |
| −2.6 | 3.6 | 7.3 | 8.5 | |
| – | – | +99.9% | +16.5% | |
| -3.17 | 4.37 | 7.85 | 5.49 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 3.1 | 3.1 | 15.5 | 15.5 | |
| −7.5 | −3.8 | 40.6 | 49 | |
| 6.8 | 11.9 | 7.7 | 35.7 | |
| 34.2 | 36.8 | 54.7 | 71.9 | |
| 36.6 | 48 | 118 | 172 | |
| 14 | 17.9 | 29.3 | 30.6 | |
| – | 0.1 | 12.9 | 15.4 | |
| 0.5 | – | – | 12.5 | |
| 1.7 | 2.6 | 3.2 | 8.1 | |
| 20.4 | 27.3 | 73 | 105 | |
| 36.6 | 48 | 118 | 172 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 15.1 | 5.3 | −26.8 | −14.8 | |
| −12.9 | −6.7 | −17.4 | −15.3 | |
| −0.7 | 2.3 | 44.8 | 29.6 | |
| 1.5 | 0.9 | 0.6 | −0.4 | |
| −12.2 | −6.7 | −13.5 | −1.6 | |
| 3 | −1.4 | −40.3 | −16.4 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
No recent news coverage found.