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Modern Engineering and Projects Ltd reported audited standalone financial results for FY2026 ending March 31, 2026. Total revenue grew 25.3% to Rs 12,284.96 lakhs (from Rs 9,790.97 lakhs in FY2025), driven by revenue from operations of Rs 11,978.71 lakhs. PAT increased 16.5% to Rs 848.92 lakhs (vs Rs 728.61 lakhs). However, Q4 FY2026 showed a sharp slowdown with PAT of just Rs 36.78 lakhs compared to Rs 936.46 lakhs in Q4 FY2025. The company also shifted its registered office, increased auditor remuneration, appointed a new Company Secretary, and noted the resignation of the previous one. The statutory auditor issued an unmodified opinion. Negative operating cash flow of Rs 1,481.94 lakhs persisted, though improved from Rs 2,680.09 lakhs in prior year. The company operates joint ventures for infrastructure projects with combined revenue of Rs 9,499.77 lakhs.
The stock shows strong annual revenue growth of 25%, but Q4 profit collapse and persistent negative operating cash flow raise concerns about working capital management and profitability sustainability despite the clean audit opinion.