MBL Infrastructure Ltd

₹ 66.3 1.36%

03 Jul 1:18 p.m.

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

Market Cap ₹ 727 Cr.
Current Price ₹ 66.3
High / Low ₹ 71.0 / 19.3
Stock P/E
Book Value ₹ 71.3
Dividend Yield 0.00 %
ROCE -0.59 %
ROE -5.13 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.93 times its book value

Cons

Company has low interest coverage ratio.
Promoter holding has decreased over last quarter: -0.86%
The company has delivered a poor sales growth of -4.51% over past five years.
Company has a low return on equity of -3.73% over last 3 years.
Company might be capitalizing the interest cost
Earnings include an other income of Rs.131 Cr.
Company has high debtors of 344 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

Consolidated Figures in Rs. Crores / View Standalone

	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
	77	32	53	45	35	24	52	39	43	45	21	33	24
	71	42	52	45	73	48	53	36	109	61	42	56	43
Operating Profit	6	-11	1	-1	-38	-24	-1	3	-66	-16	-21	-23	-19
OPM %	8%	-34%	2%	-2%	-107%	-97%	-2%	8%	-152%	-36%	-99%	-70%	-80%
	39	26	20	30	20	34	9	21	77	35	31	36	29
Interest	-6	9	9	9	9	9	8	8	8	8	7	7	7
Depreciation	53	16	15	16	20	19	15	18	20	19	15	15	14
Profit before tax	-1	-9	-3	5	-47	-17	-16	-2	-17	-8	-11	-9	-11
Tax %	-5,888%	101%	479%	83%	71%	0%	-14%	-517%	70%	-0%	0%	-0%	1%
	-58	0	13	1	-14	-17	-18	-11	-5	-8	-11	-9	-11
EPS in Rs	-5.54	0.01	1.23	0.08	-1.30	-1.61	-1.68	-1.05	-0.48	-0.73	-1.06	-0.89	-1.08
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	1,356	1,766	1,962	2,343	2,281	511	154	213	203	164	159	122
	1,209	1,574	1,718	2,079	2,259	454	224	267	99	133	102	202
Operating Profit	146	192	243	263	22	57	-70	-54	104	32	58	-79
OPM %	11%	11%	12%	11%	1%	11%	-46%	-25%	51%	19%	36%	-65%
	1	4	3	19	38	230	-197	387	129	96	142	131
Interest	60	80	107	138	159	252	19	67	162	116	178	28
Depreciation	11	14	20	33	27	23	20	55	96	67	72	63
Profit before tax	76	103	119	112	-126	12	-306	212	-25	-55	-51	-39
Tax %	26%	25%	31%	22%	49%	-58%	14%	-25%	357%	100%	0%	0%
	57	77	82	87	-64	19	-264	265	63	0	-51	-39
EPS in Rs	16.19	22.00	19.66	20.95	-15.48	5.47	-25.19	25.32	6.05	0.01	-4.82	-3.75
Dividend Payout %	9%	7%	8%	7%	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%

Compounded Sales Growth
10 Years:	-23%
5 Years:	-5%
3 Years:	-15%
TTM:	-23%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	22%

Stock Price CAGR
10 Years:	-8%
5 Years:	60%
3 Years:	43%
1 Year:	220%

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

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	18	18	21	41	41	41	105	105	105	105	105	105
Reserves	380	451	636	700	633	654	387	652	715	732	681	642
	678	828	1,104	1,433	1,934	1,379	1,437	1,253	1,248	1,204	1,139	1,088
	248	381	458	460	299	770	1,035	993	955	975	1,031	1,055
Total Liabilities	1,323	1,677	2,219	2,635	2,907	2,844	2,963	3,003	3,023	3,016	2,956	2,890
	189	214	217	247	224	180	964	910	837	770	698	683
CWIP	209	376	541	761	860	725	-0	14	17	34	47	-0
Investments	20	20	24	24	-0	0	0	0	0	0	-0	-0
	906	1,068	1,437	1,603	1,823	1,939	1,999	2,079	2,169	2,212	2,211	2,207
Total Assets	1,323	1,677	2,219	2,635	2,907	2,844	2,963	3,003	3,023	3,016	2,956	2,890

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	62	122	-63	102	-322	83	277	-6	34	-16	77	50
	-191	-206	-193	-337	-78	-60	-78	-13	-26	-16	-11	1
	142	78	265	164	392	-22	-203	27	3	52	-74	-57
Net Cash Flow	13	-6	9	-71	-8	0	-3	8	11	20	-8	-6

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	68	66	74	102	39	74	227	127	91	124	287	344
Inventory Days	188	148	195	152	5	62	51	94	38			35
Days Payable	37	48	55	63	22	444	551	915	519			158
Cash Conversion Cycle	219	166	213	191	21	-307	-273	-694	-389	124	287	221
Working Capital Days	166	135	171	166	23	-59	-643	-610	-395	-430	-611	-1,083
ROCE %	14%	15%	15%	13%	1%	4%	-0%	-0%	6%	3%	6%

Shareholding Pattern

Numbers in percentages

1 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	68.49%	68.49%	68.49%	68.49%	68.49%	68.48%	68.48%	68.48%	68.27%	68.27%	68.25%	67.39%
	1.04%	1.03%	0.00%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%
	30.47%	30.48%	31.51%	31.51%	31.50%	31.52%	31.51%	31.52%	31.73%	31.73%	31.74%	32.60%
No. of Shareholders	18,659	18,599	22,676	21,840	21,801	22,087	21,746	21,283	20,549	18,977	18,301	19,887

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	47.90%	26.29%	21.74%	68.49%	68.49%	68.49%	68.49%	68.48%	67.39%
	11.92%	8.70%	0.00%	0.00%	0.00%	1.03%	0.01%	0.00%	0.00%
	22.27%	7.97%	0.16%	0.06%	0.01%	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%
No. of Shareholders	9,795	20,992	22,644	20,830	18,769	18,096	21,840	21,283	19,887

* 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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Jun 2019

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Feb 2016

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