MBLINFRA
MBL Infrast financials
- Market cap
- ₹359 Cr
- Sector
- Construction
What MBL Infrast does
MBL Infrastructure builds and maintains public infrastructure as a prime EPC contractor to government bodies such as NHAI, MoRTH, DMRC and various state PWDs, covering roads and national highways, buildings/housing/urban infrastructure, and railway/metro civil works (ROBs, RUBs, depots). It also develops and operates highways under Build-Operate-Transfer (BOT) concessions, earning toll revenue over long-term agreements with central and state road agencies. The company runs an integrated in-house model spanning design & engineering, construction, quarrying, and bitumen & concrete production, supported by an owned fleet of construction equipment.
Segments
- Roads & Highways Construction/EPC
- Roads & Highways BOT Projects
- Roads & Highways O&M
- Building, Housing & Urban Infrastructure
- Railways/Metro & Other Infrastructure
- Business segments
- 5 (Roads & Highways EPC, BOT, O&M; Building/Housing/Urban Infra; Railways/Metro & Other Infra)
- States with executed projects
- 13 (Rajasthan, MP, UP, Delhi, Haryana, Uttarakhand, Assam, Bihar, Jharkhand, West Bengal, Maharashtra, Karnataka, Odisha & AP)
- BOT toll/annuity road concessions
- 2 — Bikaner-Suratgarh Section, NH-62, Rajasthan (170.266 km, toll, concession to Sep 2029) and Waraseoni-Lalbarra Road, MP (18.303 km, toll & annuity, concession to Aug 2028)
- Institutional/government clients served
- 17+ (NHAI, MoRTH, DMRC, SAIL, RVNL, CPWD, NBCC, MPRDCL, BSRDC, MES, RITES Ltd and others)
- Quality/HSE management certifications
- ISO 9001:2015 (quality), ISO 14001:2015 (environment), ISO 45001:2018 (health & safety)
- In-house capability divisions
- Design & engineering, construction, quarrying, and bitumen & concrete production (integrated model)
Quarterly results
Q1 FY27: revenue up 35.6%, net profit up 58.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 33 | 30 | 31 | 28 | 74 +126% | 51 +67% | 52 +67% | 38 +36% |
| EBITDA | -35 | -37 | -7 | -22 | 3 +110% | -1 +97% | 6 +185% | 10 +146% |
| Net profit | 24 | -31 | -47 | -12 | 8 −68% | -9 +69% | -8 +82% | -5 +58% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −45.3% 1Y
1Y: ₹42.04 on 10 Sept 2025 → ₹23. High ₹49.07 (16 Sept 2025), low ₹19.07 (27 Mar 2026).
Financials, as filed
Revenue grew 8.8% a year over 3 years, FY23 to FY26. Operating margin widened to -6.6%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹159 Cr | ₹122 Cr | ₹128 Cr | ₹205 Cr |
| Operating profit | ₹-87 Cr | ₹-80 Cr | ₹-105 Cr | ₹-14 Cr |
| Operating margin | -55.0% | -65.2% | -82.1% | -6.6% |
| Interest | ₹33 Cr | ₹28 Cr | ₹64 Cr | ₹38 Cr |
| Depreciation | ₹72 Cr | ₹63 Cr | ₹61 Cr | ₹54 Cr |
| Net profit | ₹-51 Cr | ₹-39 Cr | ₹169 Cr | ₹-23 Cr |
| Net margin | -31.8% | -32.1% | 132.1% | -11.0% |
| Cash from operations | ₹77 Cr | ₹48 Cr | ₹40 Cr | ₹82 Cr |
| Free cash flow | ₹63 Cr | ₹47 Cr | ₹37 Cr | ₹82 Cr |
| ROCE | 6.0% | 7.0% | 6.0% | 8.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹105 Cr | ₹105 Cr | ₹105 Cr | ₹105 Cr | ₹153 Cr | ₹153 Cr |
| Reserves | ₹715 Cr | ₹732 Cr | ₹681 Cr | ₹642 Cr | ₹821 Cr | ₹803 Cr |
| Borrowings | ₹1.2k Cr | ₹1.2k Cr | ₹1.1k Cr | ₹1.0k Cr | ₹956 Cr | ₹988 Cr |
| Other liabilities | ₹955 Cr | ₹975 Cr | ₹1.0k Cr | ₹1.1k Cr | ₹1.1k Cr | ₹1.0k Cr |
| Total liabilities | ₹3.0k Cr | ₹3.0k Cr | ₹3.0k Cr | ₹2.9k Cr | ₹3.0k Cr | ₹3.0k Cr |
| Fixed assets | ₹837 Cr | ₹770 Cr | ₹698 Cr | ₹683 Cr | ₹607 Cr | ₹579 Cr |
| Capital work in progress | ₹17 Cr | ₹34 Cr | ₹47 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹2.2k Cr | ₹2.2k Cr | ₹2.2k Cr | ₹2.2k Cr | ₹2.4k Cr | ₹2.4k Cr |
| Total assets | ₹3.0k Cr | ₹3.0k Cr | ₹3.0k Cr | ₹2.9k Cr | ₹3.0k Cr | ₹3.0k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters added +0.56 pp while the public trimmed −0.54 pp. The shareholder count shrank 4% to 24,142.
- Promoters
- 74.6%
- DIIs
- 0.4%
- Public
- 25.0%
Since Jun 2025
- Promoters +0.56 pp
- Public −0.54 pp
- FIIs −0.02 pp
How it drifted, 12 quarters
Over this window the public fell from 31.7% to 25.0% — −6.7 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 68.3%, Public 31.7%.Dec '23: Promoters 68.3%, FIIs 0.0%, Public 31.7%.Mar '24: Promoters 67.4%, Public 32.6%.Jun '24: Promoters 68.8%, FIIs 0.0%, Public 31.1%.Sep '24: Promoters 71.5%, Public 28.5%.Dec '24: Promoters 71.5%, FIIs 0.0%, DIIs 0.5%, Public 28.0%.Mar '25: Promoters 69.7%, FIIs 0.0%, DIIs 0.5%, Public 29.7%.Jun '25: Promoters 74.0%, FIIs 0.0%, DIIs 0.4%, Public 25.6%.Sep '25: Promoters 74.0%, FIIs 0.0%, DIIs 0.4%, Public 25.6%.Dec '25: Promoters 74.0%, FIIs 0.0%, Public 26.0%.Mar '26: Promoters 74.0%, FIIs 0.1%, DIIs 0.4%, Public 25.6%.Jun '26: Promoters 74.6%, DIIs 0.4%, Public 25.0%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Mlsmh Llp newly disclosed 1.22% held
- Smhdkg Llp newly disclosed 0.93% held
The same filing shows 6 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of MBL Infrast above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| MBL A Capital Limited | 20.65% | −0.45 pp |
| SMH Infrastructure Private Limited | 19.25% | −0.42 pp |
| Gokul Sales Private Limited | 9.62% | −0.21 pp |
| Anjanee Kumar Lakhotia | 7.58% | −0.16 pp |
| Dipika Suppliers LLP | 7.57% | −0.17 pp |
| Chetan Commotrade LLP | 6.35% | −0.14 pp |
| Prabhu International Vyapar Pvt Ltd | 1.40% | unchanged |
| Mlsmh Llp | 1.22% | newly disclosed |
| Ms. Jyoti Mundra | 1.01% | unchanged |
| Smhdkg Llp | 0.93% | newly disclosed |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse MBL Infrast
Guides on how to read this kind of business and the numbers that matter.