MBL Infrastructure Ltd

₹ 63.1 -2.67%

22 Jul - close price

About

Incorporated in 1995, MBL Infrastructure Ltd provides integrated engineering, procurement and construction services for civil construction and other infrastructure projects^[1]

Key Points

Business Overview:^[1]
MBL is a ISO 9001: 2015, 14001:2015, 45001:2018 certified company engaged in the execution of civil engineering projects in various business segments viz:
a) Roads & Highway Construction (EPC, BOT, O&M)
b) Building, Housing & Urban Infrastructure
c) Railways /Metro and Other Infrastructure.
MBL provides integrated engineering, procurement and construction (EPC) services
for civil construction and infrastructure sector projects

Website BSE NSE - BE

Market Cap ₹ 692 Cr.
Current Price ₹ 63.1
High / Low ₹ 85.1 / 19.3
Stock P/E 104
Book Value ₹ 119
Dividend Yield 0.00 %
ROCE 0.47 %
ROE 0.53 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.53 times its book value
Company is expected to give good quarter
Promoter holding has increased by 1.46% over last quarter.

Cons

Though the company is reporting repeated profits, it is not paying out dividend
The company has delivered a poor sales growth of -17.1% over past five years.
Tax rate seems low
Company has a low return on equity of 2.07% over last 3 years.
Contingent liabilities of Rs.376 Cr.
Company might be capitalizing the interest cost
Earnings include an other income of Rs.127 Cr.
Company has high debtors of 790 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Infrastructure Developers & Operators Industry: Construction

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	65.43	12.92	19.64	26.66	14.89	1.94	32.50	21.09	25.80	19.43	3.03	22.17	12.80
	60.55	33.54	29.76	35.83	43.98	30.35	34.98	27.99	104.64	50.31	30.12	53.09	36.14
Operating Profit	4.88	-20.62	-10.12	-9.17	-29.09	-28.41	-2.48	-6.90	-78.84	-30.88	-27.09	-30.92	-23.34
OPM %	7.46%	-159.60%	-51.53%	-34.40%	-195.37%	-1,464.43%	-7.63%	-32.72%	-305.58%	-158.93%	-894.06%	-139.47%	-182.34%
	41.12	23.87	18.33	27.23	17.94	32.24	7.58	19.36	72.05	34.09	30.52	34.55	27.56
Interest	1.82	0.01	-0.01	0.00	0.32	0.68	0.67	0.67	0.69	0.74	0.73	0.72	0.74
Depreciation	41.99	1.79	1.82	1.79	5.59	1.59	1.50	1.50	1.79	1.25	1.26	1.23	1.19
Profit before tax	2.19	1.45	6.40	16.27	-17.06	1.56	2.93	10.29	-9.27	1.22	1.44	1.68	2.29
Tax %	2,597.72%	-654.48%	-254.38%	23.36%	-202.58%	-0.64%	69.97%	89.21%	-124.16%	0.00%	0.00%	0.00%	0.00%
	-54.70	10.94	22.68	12.47	17.50	1.57	0.88	1.11	2.24	1.22	1.44	1.68	2.29
EPS in Rs	-5.22	1.04	2.17	1.19	1.67	0.15	0.08	0.11	0.21	0.12	0.14	0.16	0.22
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	1,343.04	1,753.74	1,948.48	2,314.35	2,271.24	486.74	146.67	166.21	146.33	74.11	81.33	57.43
	1,208.92	1,573.29	1,717.32	2,078.23	2,257.81	452.69	205.35	213.21	76.04	62.98	53.51	169.66
Operating Profit	134.12	180.45	231.16	236.12	13.43	34.05	-58.68	-47.00	70.29	11.13	27.82	-112.23
OPM %	9.99%	10.29%	11.86%	10.20%	0.59%	7.00%	-40.01%	-28.28%	48.04%	15.02%	34.21%	-195.42%
	0.64	3.79	2.55	15.55	35.13	460.73	-202.06	370.49	113.76	87.37	131.21	126.72
Interest	53.48	73.84	101.53	126.95	156.54	247.81	6.99	8.15	126.51	80.45	147.14	2.93
Depreciation	7.12	9.74	15.40	17.24	17.77	14.61	14.50	14.30	52.57	10.99	6.38	4.93
Profit before tax	74.16	100.66	116.78	107.48	-125.75	232.36	-282.23	301.04	4.97	7.06	5.51	6.63
Tax %	25.39%	25.36%	31.37%	21.22%	-48.20%	-2.87%	-14.52%	-17.70%	-1,778.07%	-800.71%	-5.26%	0.00%
	55.33	75.14	80.16	84.67	-65.14	239.03	-241.24	354.32	93.34	63.59	5.80	6.63
EPS in Rs	15.81	21.47	19.32	20.42	-15.71	57.66	-23.03	33.82	8.91	6.07	0.55	0.63
Dividend Payout %	9.49%	6.99%	7.76%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	-29%
5 Years:	-17%
3 Years:	-27%
TTM:	-29%

Compounded Profit Growth
10 Years:	-22%
5 Years:	-31%
3 Years:	-59%
TTM:	14%

Stock Price CAGR
10 Years:	-8%
5 Years:	61%
3 Years:	40%
1 Year:	206%

Return on Equity
10 Years:	2%
5 Years:	4%
3 Years:	2%
Last Year:	1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	17.51	17.51	20.73	41.45	41.45	41.45	104.75	104.75	104.75	104.75	104.75	104.75
Reserves	373.89	442.88	626.21	689.34	616.96	856.58	615.43	969.78	1,063.24	1,126.84	1,132.72	1,139.44
	469.97	504.07	711.50	906.85	1,352.58	815.01	965.35	804.86	791.34	785.28	785.30	791.39
	397.98	470.75	534.14	475.82	228.32	600.95	706.39	580.84	517.47	488.99	494.65	479.48
Total Liabilities	1,259.35	1,435.21	1,892.58	2,113.46	2,239.31	2,313.99	2,391.92	2,460.23	2,476.80	2,505.86	2,517.42	2,515.06
	136.80	166.32	174.31	187.90	159.22	144.64	130.37	116.14	63.67	52.82	46.41	42.03
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	97.91	165.93	199.81	242.03	218.39	218.39	303.07	303.07	303.07	303.00	302.99	302.99
	1,024.64	1,102.96	1,518.46	1,683.53	1,861.70	1,950.96	1,958.48	2,041.02	2,110.06	2,150.04	2,168.02	2,170.04
Total Assets	1,259.35	1,435.21	1,892.58	2,113.46	2,239.31	2,313.99	2,391.92	2,460.23	2,476.80	2,505.86	2,517.42	2,515.06

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	4.87	162.70	-152.34	-15.88	-311.86	12.20	154.81	-123.46	3.59	1.57	-4.76	4.36
	-58.78	-107.36	-90.17	-66.06	32.26	6.55	-85.47	-0.97	-0.06	-0.24	-0.04	-0.68
	55.06	-58.14	243.23	45.33	298.59	-3.18	-72.96	126.51	0.00	0.00	0.00	0.00
Net Cash Flow	1.15	-2.80	0.71	-36.61	18.99	15.58	-3.62	2.08	3.53	1.32	-4.79	3.68

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	82.17	85.61	93.47	112.72	37.08	68.82	266.33	191.80	144.27	311.76	642.80	789.62
Inventory Days	187.88	148.22	195.04	152.45	4.52	62.37	51.17	93.73				35.21
Days Payable	35.63	47.46	54.64	62.94	21.52	413.90	512.04	870.75				43.19
Cash Conversion Cycle	234.43	186.37	233.86	202.23	20.08	-282.72	-194.55	-585.23	144.27	311.76	642.80	781.63
Working Capital Days	158.56	155.88	198.26	178.64	39.65	114.08	266.90	267.52	520.70	1,447.69	1,274.65	1,417.80
ROCE %	16.41%	19.12%	18.82%	15.71%	1.76%	4.19%	0.50%	1.38%	6.85%	4.40%	7.56%	0.47%

Shareholding Pattern

Numbers in percentages

3 Recently

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
	68.49%	68.49%	68.49%	68.49%	68.48%	68.48%	68.48%	68.27%	68.27%	68.25%	67.39%	68.84%
	1.03%	0.00%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	0.04%
	30.48%	31.51%	31.51%	31.50%	31.52%	31.51%	31.52%	31.73%	31.73%	31.74%	32.60%	31.11%
No. of Shareholders	18,599	22,676	21,840	21,801	22,087	21,746	21,283	20,549	18,977	18,301	19,887	26,003

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Jun 2024
	47.90%	26.29%	21.74%	68.49%	68.49%	68.49%	68.49%	68.48%	67.39%	68.84%
	11.92%	8.70%	0.00%	0.00%	0.00%	1.03%	0.01%	0.00%	0.00%	0.04%
	22.27%	7.97%	0.16%	0.06%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%
	17.90%	57.04%	78.10%	31.45%	31.51%	30.48%	31.51%	31.52%	32.60%	31.11%
No. of Shareholders	9,795	20,992	22,644	20,830	18,769	18,096	21,840	21,283	19,887	26,003

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Aug 2023

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Jun 2022

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Nov 2018

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Sep 2016

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Feb 2016

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