M & B Engineering Limited has informed the Exchange about Transcript
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M&B Engineering delivered strong FY26 results with revenue of INR 1,260 crores (27% YoY growth) and PAT of INR 93 crores (20% growth). However, Q4 saw margin pressure with EBITDA margin at 11.9% vs 14% YoY due to INR 3.9 crores forex loss from rupee depreciation, 20% steel price hike, and export freight cost surge from the Iran conflict. The company maintained its highest-ever order inflow of INR 1,539 crores with an unexecuted order book of INR 1,083 crores (35% growth). Management guided for ~25% revenue growth in FY27 but declined to give margin guidance citing too many volatile factors including steel prices, freight rates, and FX. Export revenue grew 156% to INR 166 crores with targets of INR 275-300 crores for FY27. US tariff reduction to 25% from 50% is viewed positively. The war impacted Q4 volume growth at 8% instead of expected 15% due to gas supply disruptions and steel mill closures in March.
Strong order book provides revenue visibility, but near-term margin pressure from input cost inflation and geopolitical uncertainty may persist. Management's refusal to provide margin guidance signals caution on profitability in FY27.