M & B Engineering Ltd

- 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.

- 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.

- 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.

- 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.

- 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.