MBL INFRASTRUCTURE LTD

Undertakes construction and infrastructure projects across roads, highways, BOT (build-operate-transfer) assets, buildings, railways and metro. The business emerged from its IBC resolution plan in September 2024 and is operating in recovery mode with consolidated FY26 revenue of Rs 176.06 cr and a consolidated net loss of Rs 22.63 cr, even as consolidated EBITDA was Rs 106.02 cr. Costs are dominated by other operating expenses at 83.0% of revenue and depreciation at 30.8%, with raw materials at just 4.1% of revenue and employee costs at 6.9% — the heavy depreciation weight reflects an asset-heavy BOT portfolio. Capital expenditure was nil in FY26. The firm is navigating the insolvency of one subsidiary and carries investments in subsidiaries whose recoverability depends on arbitration and litigation outcomes. An arbitration award in favour from Uttarakhand's Public Works Department for a road improvement project in Udham Singh Nagar district was upheld by the Commercial Court in Dehradun in July 2026.