McNally Bharat Engineering Company Ltd

MBECL

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Market Cap

₹ 69 Cr

P/E

—

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Performance

STEADY PERFORMER

Valuation

UNDERVALUED

Growth

STABLE

Profitability

LOW MARGIN

Technicals

Bearish

Risk

MODERATE RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

McNally Bharat Engineering Company Limited is a leading Indian engineering firm specializing in diversified construction activities. Their core expertise lies in turnkey projects across sectors like power, steel, material handling, and more.

The company boasts a rich history of pioneering projects, including India's first indigenously designed mineral beneficiation and coal washery plants, showcasing their engineering prowess.

Over the years, McNally Bharat has expanded its portfolio through strategic acquisitions and joint ventures, particularly in the fields of port handling equipment and water management systems.

Despite its technical achievements, McNally Bharat has faced significant financial challenges, culminating in a corporate insolvency resolution process initiated in 2022.

The company has a global presence with subsidiaries in India, Singapore, and Zambia, indicating its ambitions and operational capabilities beyond domestic borders.

Sector

Infrastructure Developers & Operators

Industry

Engineering - Turnkey Services

Market Cap

69 Cr

Volatility

Low Risk

P/E Ratio

—

Industry P/E

25.9

PEG Ratio

—

P/B Ratio

0.1

52W High

4.51

52W Low

2.90

Sales CAGR

-37.53%

-25.40%

-28.65%

10Y

-29.64%

Profit CAGR

-94.31%

—

10Y

—

ROE

TTM

-230.42%

36.28%

36.93%

10Y

52.38%

ROCE

TTM

-130.85%

8.79%

9.39%

10Y

17.72%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
HMEML	57.50	79 Cr	9.44	1.20	0.00	10.90	14.35	7.20
K2INFRA	61.45	78 Cr	6.61	1.02	0.00	17.44	16.10	7.70
KONSTELEC	46.50	70 Cr	15.35	0.71	0.00	2.58	7.17	1.01
MBECL	3.24	69 Cr	—	0.08	0.00	-230.42	-130.85	244.31
AJRINFRA	—	64 Cr	—	0.00	0.00	11.14	1.73	251.37
PROMAX	23.50	59 Cr	94.00	2.40	0.00	2.60	6.19	1.17
CHAMUNDA	51.40	57 Cr	15.03	2.25	0.00	18.57	23.16	16.47

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	41	47	40	40	26	27	22	30	15	18
Expenses	48	59	54	101	31	34	75	829	32	130
Operating Profit	-6.79	-12	-14	-61	-4.86	-6.63	-53	-799	-17	-111
OPM %	-16.57	-26.11	-34.91	-150.26	-18.56	-24.63	-246.98	-2,628.41	-112.53	-602.33
Other Income	11	11	10	15	50	7.97	7.13	-66	0.04	3,919
Interest	241	190	198	205	264	221	230	134	213	-2.72
Depreciation	0.84	0.81	0.79	0.77	0.65	0.80	0.80	0.72	0.66	0.63
Profit Before Tax	-237	-192	-203	-252	-220	-220	-277	-999	-230	3,810
Tax %	0.00	0.00	0.00	-0.01	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	-237	-192	-203	-252	-220	-220	-277	-999	-230	3,810
EPS in Rs	-71.09	-57.44	-60.81	-75.53	-66.07	-65.95	-82.89	-51.63	-69.08	1,143.05

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	2,202	1,688	1,739	730	502	424	381	168	105	94
Expenses	2,581	1,861	2,246	1,073	513	522	701	262	968	969
Operating Profit	-379	-173	-507	-343	-11	-98	-320	-94	-863	-875
OPM %	-17.23	-10.26	-29.17	-46.97	-2.28	-23.00	-84.05	-55.67	-821.97	-933.37
Other Income	314	148	135	62	30	40	68	47	-1.43	-51
Interest	432	555	406	89	46	51	1,939	834	849	797
Depreciation	45	31	23	18	16	13	10	3.21	2.97	2.98
Profit Before Tax	-572	-617	-802	-388	-44	-121	-2,201	-883	-1,716	-1,726
Tax %	91.11	23.76	1.37	0.07	0.00	0.18	-2.82	-0.00	0.00	0.00
Net Profit	-51	-470	-791	-387	-44	-121	-2,263	-883	-1,716	-1,726
EPS in Rs	—	—	-197.95	-113.81	-12.57	-33.70	-681.17	-264.87	-266.54	939.45
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	51	54	158	172	212	212	212	212	212	33
Reserves	-461	45	-72	-1.86	-204	-259	-385	-3,536	-4,419	-5,925
Borrowings	2,217	2,794	3,270	2,263	2,304	2,347	2,405	3,106	3,107	3,095
Other Liabilities	2,511	2,589	1,977	1,232	776	499	467	2,317	3,100	3,967
Total Liabilities	4,319	5,482	5,334	3,666	3,088	2,798	2,699	2,098	1,999	1,170
Fixed Assets	286	385	356	189	195	179	150	18	15	15
CWIP	4.88	4.05	4.79	5.04	4.82	4.84	4.83	4.63	4.63	0.00
Investments	30	21	20	4.61	4.54	4.79	4.73	1.15	1.26	1.31
Other Assets	3,998	5,072	4,953	3,467	2,883	2,609	2,539	2,073	1,978	1,154
Total Assets	4,319	5,482	5,334	3,666	3,088	2,798	2,699	2,098	1,999	1,170

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-392	-568	-303	359	-187	63	-7.15	10.00	-13	-17
Cash from Investing Activity	-25	-22	65	390	47	1.72	39	-11	-0.85	-15
Cash from Financing Activity	429	595	302	-806	120	-48	-33	5.58	1.16	16
Net Cash Flow	12	5.47	64	-57	-19	16	-1.49	4.88	-13	-15

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	32.79%	32.79%	32.79%	32.79%	32.79%	32.79%	32.79%	32.79%	32.79%	90.00%	90.00%	90.00%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.18%	0.18%	0.18%
DIIs	0.04%	0.04%	0.04%	0.04%	1.18%	1.15%	1.15%	1.15%	1.15%	4.56%	4.56%	4.56%
Public	67.16%	67.17%	67.17%	67.17%	66.03%	66.06%	66.06%	66.06%	66.06%	5.26%	5.26%	5.26%
Total Shareholders	24,204	24,019	23,271	23,076	22,440	22,703	23,951	25,153	25,772	19,547	19,547	19,547

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

Regulatory Filing

3 days ago

Notice from EPF Organization regarding Rs. 9.60 crores

McNally Bharat Engineering Company received a Notice from the Employees Provident Fund Organization directing them to deposit Rs. 9.60 crores, following a review of their compliance during the Corporate Insolvency Resolution Process.

Documents

Presentations

Concalls

Reports

Presentations

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Overall

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Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	41	47	40	40	26	27	22	30	15	18
Expenses	48	59	54	101	31	34	75	829	32	130
Operating Profit	-6.79	-12	-14	-61	-4.86	-6.63	-53	-799	-17	-111
OPM %	-16.57	-26.11	-34.91	-150.26	-18.56	-24.63	-246.98	-2,628.41	-112.53	-602.33
Other Income	11	11	10	15	50	7.97	7.13	-66	0.04	3,919
Interest	241	190	198	205	264	221	230	134	213	-2.72
Depreciation	0.84	0.81	0.79	0.77	0.65	0.80	0.80	0.72	0.66	0.63
Profit Before Tax	-237	-192	-203	-252	-220	-220	-277	-999	-230	3,810
Tax %	0.00	0.00	0.00	-0.01	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	-237	-192	-203	-252	-220	-220	-277	-999	-230	3,810
EPS in Rs	-71.09	-57.44	-60.81	-75.53	-66.07	-65.95	-82.89	-51.63	-69.08	1,143.05

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	2,202	1,688	1,739	730	502	424	381	168	105	94
Expenses	2,581	1,861	2,246	1,073	513	522	701	262	968	969
Operating Profit	-379	-173	-507	-343	-11	-98	-320	-94	-863	-875
OPM %	-17.23	-10.26	-29.17	-46.97	-2.28	-23.00	-84.05	-55.67	-821.97	-933.37
Other Income	314	148	135	62	30	40	68	47	-1.43	-51
Interest	432	555	406	89	46	51	1,939	834	849	797
Depreciation	45	31	23	18	16	13	10	3.21	2.97	2.98
Profit Before Tax	-572	-617	-802	-388	-44	-121	-2,201	-883	-1,716	-1,726
Tax %	91.11	23.76	1.37	0.07	0.00	0.18	-2.82	-0.00	0.00	0.00
Net Profit	-51	-470	-791	-387	-44	-121	-2,263	-883	-1,716	-1,726
EPS in Rs	—	—	-197.95	-113.81	-12.57	-33.70	-681.17	-264.87	-266.54	939.45
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	51	54	158	172	212	212	212	212	212	33
Reserves	-461	45	-72	-1.86	-204	-259	-385	-3,536	-4,419	-5,925
Borrowings	2,217	2,794	3,270	2,263	2,304	2,347	2,405	3,106	3,107	3,095
Other Liabilities	2,511	2,589	1,977	1,232	776	499	467	2,317	3,100	3,967
Total Liabilities	4,319	5,482	5,334	3,666	3,088	2,798	2,699	2,098	1,999	1,170
Fixed Assets	286	385	356	189	195	179	150	18	15	15
CWIP	4.88	4.05	4.79	5.04	4.82	4.84	4.83	4.63	4.63	0.00
Investments	30	21	20	4.61	4.54	4.79	4.73	1.15	1.26	1.31
Other Assets	3,998	5,072	4,953	3,467	2,883	2,609	2,539	2,073	1,978	1,154
Total Assets	4,319	5,482	5,334	3,666	3,088	2,798	2,699	2,098	1,999	1,170

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-392	-568	-303	359	-187	63	-7.15	10.00	-13	-17
Cash from Investing Activity	-25	-22	65	390	47	1.72	39	-11	-0.85	-15
Cash from Financing Activity	429	595	302	-806	120	-48	-33	5.58	1.16	16
Net Cash Flow	12	5.47	64	-57	-19	16	-1.49	4.88	-13	-15

Overview

Detailed Summary

The company boasts a rich history of pioneering projects, including India's first indigenously designed mineral beneficiation and coal washery plants, showcasing their engineering prowess.

Over the years, McNally Bharat has expanded its portfolio through strategic acquisitions and joint ventures, particularly in the fields of port handling equipment and water management systems.

Despite its technical achievements, McNally Bharat has faced significant financial challenges, culminating in a corporate insolvency resolution process initiated in 2022.

The company has a global presence with subsidiaries in India, Singapore, and Zambia, indicating its ambitions and operational capabilities beyond domestic borders.

Sector

Infrastructure Developers & Operators

Industry

Engineering - Turnkey Services

Market Cap

69 Cr

Volatility

Low Risk

P/E Ratio

—

Industry P/E

25.9

PEG Ratio

—

P/B Ratio

0.1

52W High

4.51

52W Low

2.90

Sales CAGR

-37.53%

-25.40%

-28.65%

10Y

-29.64%

Profit CAGR

-94.31%

—

10Y

—

ROE

TTM

-230.42%

36.28%

36.93%

10Y

52.38%

ROCE

TTM

-130.85%

8.79%

9.39%

10Y

17.72%

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
HMEML	57.50	79 Cr	9.44	1.20	0.00	10.90	14.35	7.20
K2INFRA	61.45	78 Cr	6.61	1.02	0.00	17.44	16.10	7.70
KONSTELEC	46.50	70 Cr	15.35	0.71	0.00	2.58	7.17	1.01
MBECL	3.24	69 Cr	—	0.08	0.00	-230.42	-130.85	244.31
AJRINFRA	—	64 Cr	—	0.00	0.00	11.14	1.73	251.37
PROMAX	23.50	59 Cr	94.00	2.40	0.00	2.60	6.19	1.17
CHAMUNDA	51.40	57 Cr	15.03	2.25	0.00	18.57	23.16	16.47