M & B Engineering Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 26 Aug 2026 | Construction | Market Cap: ₹1.5K Cr
Targeting approximately 25% revenue growth for FY2026, aiming Rs. The company targets a consolidated revenue of Rs.
From M & B Engineering Ltd's Q2 FY26 earnings-call transcript · updated 26 Aug 2026.
Price
₹272
Market Cap
₹1.5K Cr
P/E Ratio
15.9
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M & B Engineering Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹364 Cr, net profit ₹27 Cr.
Full financials →📊 Revenue & Sales Performance
- →Targeting approximately 25% revenue growth for FY2026, aiming Rs. 1,225 to Rs. 1,250 crores.
- →First half FY2026 showed 57% growth; second half expected to maintain strong performance.
- →Export sales targeted at around Rs. 160 crores in FY2026.
- →Order book robust with Rs. 227 crores to be executed in next 6-7 months and inquiries of 17 lakh square meters expected to convert to orders.
- →Capacity expansion underway:
- → - Three new mobile units ordered for roofing; one operational by Dec 2025, two more by Q1 FY2027.
- → - Brownfield expansion at Sanand plant adding 20,000 MT capacity operational Q1 FY2027.
- → - Planned similar 20,000 MT expansion at Cheyyar plant in FY2028.
- →Utilization at Cheyyar plant expected to reach 55%-60% in H2 FY2026; Sanand plant to operate at 75%-80% utilization in H2 FY2026.
- →Order book to revenue conversion ratio currently 120%-130%, indicating strong execution capability.
- →For FY2027, expected revenue growth around 20%-25%, subject to market conditions.
📈 Profitability & Margins
- →The company targets a consolidated revenue of Rs. 1,225 to Rs. 1,250 crores for FY2026, implying about 25% growth from last year.
- →Export sales are expected to reach around Rs. 160 crores in FY2026, up significantly from Rs. 56.78 crores in H1 FY2026.
- →EBITDA margin guidance is around 13% for the full year FY2026, with export margins higher than domestic margins contributing positively.
- →Profitability is somewhat pressured in the Proflex division due to raw material cost inflation but expected to improve with price adjustments.
- →New capacities at Sanand and Cheyyar plants, including brownfield expansions planned for FY2027 and FY2028, are expected to support volume and profit growth.
- →Operating leverage is expected to improve with higher revenue and better utilization of existing plants, supporting earnings growth.
- →Management remains bullish on domestic and export demand, particularly in roofing and pre-engineered buildings segments, underpinning future growth.
🏗️ Capital Expenditure Plans
- →Current fiscal year CAPEX: Around ₹60 crores (FY'26), focused on capacity expansion.
- →Next fiscal year CAPEX: Planned ₹60-70 crores (FY'27), as per IPO projections.
- →Sanand plant brownfield expansion with an additional 20,000 metric tons capacity becoming operational in Q1 FY'27.
- →Cheyyar plant brownfield expansion of 20,000 metric tons planned next fiscal, to be operational in FY'28.
- →Ordered three mobile units for roofing demand — one from UAE (operational by Dec 2025) and two from the US (operational by Q1 FY'27).
- →Strategic focus on expanding capacity to meet robust order books in domestic and export markets.
- →Strengthened marketing focus in southern India with Cheyyar plant fully operational.
- →Sanand is the only AISC and CWB certified plant in India, targeting optimum utilization.
💰 Fundraising & Capital Structure
- →There is no explicit mention of any new fundraising through debt or fresh equity in the provided transcript.
- →The company plans to fund its brownfield expansion projects largely through IPO proceeds, as mentioned by Keyur Shah and Chirag Patel.
- →CAPEX plans include around Rs. 60-70 crores each for FY'26 and FY'27, expected to be funded through the IPO.
- →There is no indication of raising new debt or equity beyond the already planned IPO-linked funding.
- →Cash flow is mentioned as comfortable, and trade credit management is aligned with the fund plan, indicating no immediate need for additional borrowings.
📋 Order Book & Pipeline
- →As of October 1, 2025, strong outstanding export orders of approx. Rs. 122 crores.
- →Phenix division domestic orders: Rs. 581.13 crores; Proflex division order book: Rs. 227.05 crores.
- →Total order book intake for H1 FY2026: Rs. 672.20 crores (Q1: Rs. 277.62 crores; Q2: Rs. 394.58 crores).
- →Additional large export order of USD 24 million (about Rs. 200+ crores) received after September 30, 2025.
- →Additional domestic order of Rs. 98 crores also received after September 30, 2025.
- →Current order book stands around Rs. 930 crores as of end Q2, up from Rs. 842 crores at end Q1.
- →Orders inflow exceeds execution, indicating a growing order book.
- →Pipeline includes several large orders from US and domestic markets, though details are premature to announce.
- →Outstanding tariff-related pending order impact limited to about Rs. 50 lakhs.
Key Metrics
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Frequently Asked Questions
What were M & B Engineering Ltd Q2 FY26 results?
Targeting approximately 25% revenue growth for FY2026, aiming Rs. The company targets a consolidated revenue of Rs.
What is M & B Engineering Ltd share price analysis?
M & B Engineering Ltd currently shows a neutral. The stock trades at a P/E of 15.9 with a market cap of ₹1,546 Cr. Investors should review the full earnings analysis for detailed insights.
Is M & B Engineering Ltd planning capital expenditure?
Current fiscal year CAPEX: Around ₹60 crores (FY'26), focused on capacity expansion.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.