M&B Engineering Limited has submitted transcript for the earnings call held on 12th May, 2026

M&B Engineering reported FY26 revenue of INR1,259.7 crores (+27% YoY) and PAT of INR92.6 crores (+20%). Q4 margins compressed to 11.9% from 14% due to INR6 crores forex loss from rupee depreciation post-Iran conflict, 20%+ steel price hike, and surge in export freight costs (war surcharge). Export revenue surged 156% to INR166 crores, now contributing ~13% of volumes with EBITDA of 16-17% vs domestic ~10-11%. US tariff reduction to 25% is positive for future exports, targeting INR300 crores export revenue in FY27. Order book stands at INR1,083 crores (+35% YoY) with Phenix at INR871 crores and Proflex at INR212 crores. Capex of INR100 crores planned for FY27 for Sanand 20,000MT expansion (commissioning Q2 FY27) and Cheyyar expansion. Management guided ~25% revenue growth for FY27 but explicitly declined to give margin guidance due to ongoing input cost volatility.