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M & B Engineering Limited
(MBEL)
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Rating:61Neutral
Price Target:
₹281.00
▼(-25.01% Downside)
Action:Reiterated
Date:10/09/26
The score is mainly driven by improved profitability and a much stronger balance sheet, but it is held back by negative recent operating/free cash flow, which raises quality-of-earnings and funding-risk concerns. Technicals are mixed with a broader downtrend (below key longer-term moving averages), while valuation appears reasonable but not especially supported by dividends.
Positive Factors
Revenue and profit scaling
The long-term increase in revenue and net income indicates stronger earnings capacity and meaningful business scaling. If this performance continues, larger operating profit can support reinvestment, strengthen financial resilience, and improve the company’s ability to compound results over the next several quarters.
Negative Factors
Negative cash conversion
Negative operating and free cash flow despite higher accounting profits raises concerns about earnings quality and the timing of cash realization. If this mismatch persists, the company may need external funding or tighter working-capital control to sustain operations and planned investment.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and profit scaling
The long-term increase in revenue and net income indicates stronger earnings capacity and meaningful business scaling. If this performance continues, larger operating profit can support reinvestment, strengthen financial resilience, and improve the company’s ability to compound results over the next several quarters.
Read all positive factors
M & B Engineering Limited (MBEL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹16.60B
Dividend Yield0.38%
Average Volume (3M)18.42K
Price to Earnings (P/E)15.5
Beta (1Y)2.07
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees1,631
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)4.07
Shares Outstanding57,160,717
10 Day Avg. Volume36,830
30 Day Avg. Volume18,424
Financial Highlights & Ratios
PEG Ratio0.52
Price to Book (P/B)1.88
Price to Sales (P/S)0.98
P/FCF Ratio-17.13
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)20
Revenue Forecast (FY)₹15.12B
M & B Engineering Limited Business Overview & Revenue Model
Company Description
M & B Engineering Ltd. is an engineering firm specializing in the end-to-end process of designing, manufacturing, and installing prefabricated metal structures, independent steel roofing systems, and complex steel components. The company fabricate...
M & B Engineering Limited Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
78
Positive
Cash Flow
42
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.20B | 12.60B | 9.89B | 7.95B | 8.80B | 6.88B |
| Gross Profit | 1.72B | 2.88B | 3.12B | 2.21B | 2.12B | 1.92B |
| EBITDA | 795.79M | 1.56B | 1.31B | 882.00M | 712.00M | 486.24M |
| Net Income | 507.13M | 926.36M | 770.47M | 456.34M | 328.92M | 163.13M |
Balance Sheet | ||||||
| Total Assets | 10.14B | 11.61B | 8.49B | 6.33B | 5.59B | 5.47B |
| Cash, Cash Equivalents and Short-Term Investments | 724.06M | 2.79B | 296.35M | 734.41M | 981.99M | 514.35M |
| Total Debt | 1.14B | 835.22M | 1.91B | 2.05B | 1.50B | 1.01B |
| Total Liabilities | 4.19B | 5.04B | 5.43B | 4.00B | 3.79B | 4.02B |
| Stockholders Equity | 5.95B | 6.57B | 3.07B | 2.33B | 1.81B | 1.45B |
Cash Flow | ||||||
| Free Cash Flow | -274.50M | -721.99M | -67.32M | -724.20M | 107.74M | 288.85M |
| Operating Cash Flow | -137.72M | -387.53M | 355.89M | 56.59M | 289.70M | 366.68M |
| Investing Cash Flow | -1.54B | -483.60M | -340.56M | -622.81M | -119.44M | -24.89M |
| Financing Cash Flow | 1.95B | 1.53B | -453.39M | 318.64M | 297.38M | -333.20M |
M & B Engineering Limited Technical Analysis
Neutral
374.70
Price Trends
269.14
Negative
286.60
Negative
304.84
Negative
Market Momentum
-1.52
Negative
52.23
Neutral
52.21
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MBEL, the sentiment is Neutral. The current price of 374.7 is above the 20-day moving average (MA) of 257.44, above the 50-day MA of 269.14, and above the 200-day MA of 304.84, indicating a neutral trend. The MACD of -1.52 indicates Negative momentum. The RSI at 52.23 is Neutral, neither overbought nor oversold. The STOCH value of 52.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:MBEL.
M & B Engineering Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | ₹6.34B | 32.80 | ― | 0.96% | 48.68% | 139.19% | |
61 Neutral | ₹16.60B | 15.51 | ― | 0.38% | ― | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | ₹296.44M | -53.06 | ― | ― | 576.73% | -108.98% | |
44 Neutral | ₹16.13B | 0.45 | ― | 0.08% | -21.46% | ― | |
41 Neutral | ₹287.80M | -0.09 | ― | 0.31% | -25.61% | 46.82% |
* General Sector Average
IN:MBEL
M & B Engineering Limited
266.70
-108.93
-29.00%
IN:KAUSHALYA
Kaushalya Infrastructure Development Corporation Ltd
849.00
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IN:MADHUCON
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3.92
-3.45
-46.81%
IN:MBECL
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474.15
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IN:MOLDTECH
Mold-Tek Technologies Limited
104.70
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1.30%
IN:SKIL
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1.01
-0.38
-27.34%
M & B Engineering Limited Corporate Events
M & B Engineering Plans Investor Meet at Bharat Connect Conference
Sep 21, 2026
M B Engineering Limited, headquartered in Ahmedabad and listed on NSE and BSE, operates in the engineering and construction-related sector, engaging with capital market stakeholders through structured communication channels. Its presence in inves...
M & B Engineering Plans Investor Meetings at Equirus India Conference 2026
Aug 10, 2026
M B Engineering Limited has informed stock exchanges that it will participate in the Equirus Annual India Conference 2026 on Thursday, 13 August 2026, for in-person meetings with investors and analysts. The company emphasized that discussions wil...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.