Outcome of Board Meeting of Modern Engineering and Projects Limited held on May 30, 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 4.8 pts more than Nifty Microcap 250 and 4.4 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Modern Engineering and Projects Ltd reported FY25 revenue from operations of Rs 9,561.11 lakhs, up modestly from Rs 9,321.93 lakhs in FY24 (about 2.6% growth). Profit after tax nearly doubled to Rs 728.61 lakhs from Rs 364.52 lakhs, with EPS at Rs 7.85 (down from Rs 11.80 due to a Rs 49.44 crore rights issue that expanded the share base five-fold). Q4 FY25 was particularly strong, with PAT of Rs 936.46 lakhs versus Rs 162.94 lakhs a year ago. The company operates in infrastructure/road construction through joint ventures (MEPIDL-MCL-JV, Aquatech-MEPL JVs). The auditor (S K Patodia & Associates LLP) issued an unmodified opinion on the results. However, cash flow from operations turned sharply negative at Rs -2,680 lakhs versus Rs +528 lakhs last year, driven mainly by a Rs 4,408 lakh jump in trade receivables.
Strong profit growth and a clean audit opinion are positives for shareholders, but the deeply negative operating cash flow and ballooning receivables (nearly tripling to Rs 6,654 lakhs) suggest the company is funding growth through working capital strain rather than cash generation. Investors should watch for receivable recovery and any need for further capital raises.