MBL Infrast

Q3 FY17Construction

MBL Infrast Q3 FY17 Results & Concall Highlights: Order Book ₹6,243.52 Cr

Q3 FY17 earnings call: what management guided on revenue, margins and order book.

Price₹25

Market cap₹359 Cr

Published4 Sept 2026

The short version

For the current year, the company expects revenue between Rs 2,100 crores to Rs 2,200 crores. The company expects profitability to strengthen in the next year with a target top-line of Rs 2,600 to Rs 2,700 crores (Page 7).

From MBL Infrast's Q3 FY17 earnings-call transcript · updated 4 Sept 2026.

Revenue & Sales Performance

For the current year, the company expects revenue between Rs 2,100 crores to Rs 2,200 crores.
The top-line for the next year is anticipated to reach Rs 2,600 crores to Rs 2,700 crores.
The company is focusing on increasing order book only after deleveraging exercises are completed.
Growth is expected in EPC projects, with current EPC order book around Rs 1,750 crores.
The company plans to continue bidding for EPC projects funded by NHAI, MORTH, ADB, and World Bank.
The strategic focus includes taking hybrid annuity projects, executing, and then selling them to reduce leverage.
Management projects margins to improve toward a target of 12% to 14% over the next couple of years.

Profitability & Margins

The company expects profitability to strengthen in the next year with a target top-line of Rs 2,600 to Rs 2,700 crores (Page 7).
Margins are targeted to reach 12% to 14% over the next couple of years, although current year margins impacted due to exceptional items (Page 10).
The company aims to increase order book quality by focusing on larger ticket size projects and fewer projects, improving operating efficiencies (Page 15).
Strategy includes divesting BOT projects and raising long-term funding via financial partners to deleverage and support sustainable growth (Pages 6, 7).
Operating cash flows are currently positive, and with the planned deleveraging, the company expects sufficient cash flow to service debt and improve profitability (Page 15).
Toll revenue projections for key projects like Bikaner-Suratgarh are better than initial estimates, supporting future revenue growth (Page 14).

See what MBL Infrast said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

MBL Infrastructures is actively working on hybrid annuity model (HAM) projects, expecting financial closure by 31st March 2017.
The company plans to bring financial partners into HAM projects as part of its 3-tier deleveraging strategy (including divesting operational BOT projects and replacing long-term debt).
Discussions are ongoing with potential financial partners for strategic investments, but no definitive agreements have been signed yet; announcements will be made once funds are inducted.
The company aims to grow specifically in EPC projects, targeting Rs 1,750 crores order book and seeking to bid aggressively in that segment.
No specific mention of fresh capex in non-road infrastructure sectors, but there are options expected shortly in inland waterways projects.
The general strategic direction is to focus on executing ongoing projects, de-leveraging the balance sheet, and selectively taking on new projects after consolidations and deleveraging are underway.

Fundraising & Capital Structure

The company is actively exploring multiple fundraising options, including mezzanine funding of around Rs 300 crores, with discussions involving reputed parties such as the Piramal Group, but no specific party has been finalized yet.
They are considering debt restructuring including schemes like S4A (Sustainable Structuring of Stressed Assets) as part of their three-tier deleverage strategy.
The three-tier strategy includes replacing long-term debt, selling operational BOT projects, and bringing in financial partners for HAM projects.
No firm timelines are set; however, de-leveraging and fundraising dialogs are expected to progress over the next two quarters.
The company aims to increase promoter shareholding and is discussing with merchant bankers on ways to achieve this without immediate equity dilution.
Financial partners or equity holders may be brought into projects to strengthen financial health, but announcements will be made only after funds are received or agreements signed.

See what MBL Infrast said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

As of December 31, 2016, the total order book stood at Rs 6,243.52 crores (Page 12).
The unexecuted order book is approximately Rs 4,000 crores (Page 5).
Of the Rs 4,000 crores unexecuted order book:
- Around Rs 400 crores is for O&M.
- The three remaining Hybrid Annuity Model (HAM) projects sum to about Rs 2,250 crores (Rs 1,040 crore + Rs 825 crore + Rs 458 crore) (Page 5).
The current order book for EPC projects is about Rs 1,750 crores (Page 9).
The company has won significant HAM projects recently, for example:
- Four-laning of Chutmalpur to Ganeshpur & Roorkee to Gagalheri section (Rs 942 crores).
- Four-laning of Gagalheri to Saharanpur to Yamunanagar (Rs 1,184 crores) (Page 4).
The company is focusing on increasing order book only after deleveraging and strengthening cash flows (Page 8).

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MBL Infrast — Quarterly revenue & net profit

Revenue Net profit Net loss

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Reported quarterly figures (₹ Cr). Latest: revenue ₹51 Cr, net loss ₹9 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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Frequently Asked Questions

What were MBL Infrast Q3 FY17 results?

What is MBL Infrast share price analysis?

MBL Infrast currently shows a neutral. The stock trades at a P/E of N/A with a market cap of ₹359 Cr. Investors should review the full earnings analysis for detailed insights.

Is MBL Infrast planning capital expenditure?

MBL Infrastructures is actively working on hybrid annuity model (HAM) projects, expecting financial closure by 31st March 2017.

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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.