Outcome of the Board Meeting of Modern Engineering and Projects held on August 12, 2025
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Modern Engineering and Projects reported a strong Q1 FY26, with revenue from operations more than doubling to ₹3,004.32 lakhs from ₹1,449.19 lakhs in the same quarter last year, a jump of about 107%. Total income rose to ₹3,106.25 lakhs versus ₹1,585.15 lakhs YoY. Profit before tax climbed to ₹224.24 lakhs from ₹135.23 lakhs (~66% growth), and profit after tax rose to ₹181.27 lakhs from ₹110.58 lakhs (~64% growth). Basic EPS for the quarter stood at ₹1.17. Growth was supported by joint ventures in road construction and sewerage projects, though standalone EBITDA margin appears to have compressed compared to the prior-year quarter despite higher absolute profits.
Strong top-line and bottom-line growth is positive for shareholders, signalling a sharp recovery in business activity. However, margin compression and the diluted EPS comparison (post the September 2024 rights issue) suggest investors should watch profitability trends alongside the revenue surge before drawing strong conclusions about underlying earnings power.