M & B Engineering Ltd

M&B Engineering Limited — Trading window closes from 1st October, 2026 till 48 hours after the declaration of Unaudited Financial Results for the quarter ending on 30th September, 2026

Meeting Details

• Date: 29 September 2026; Type: group Investor/Analyst meeting; Mode: Virtual; Bharat Connect Conference: Rising Stars by Arihant Capital.

Participants

• Key company participants: senior management (roles not disclosed).

Purpose

• Purpose: investor/analyst interaction; discussions based on publicly available materials.

AGM Details

• Date/time and mode: 17 Sep 2026, 12:00–12:30 IST, via VC/OAVM.

Key Resolutions

• Adopt audited financial statements (standalone and consolidated) for FY26.
• Declare final dividend of Rs 1.00 per share.
• Re-appoint Aditya Vipinbhai Patel by rotation.
• Re-appoint Birva Chirag Patel by rotation.
• Ratify remuneration of Cost Auditors for FY26-27.
• Re-appoint Birva Chirag Patel as Whole-time Director for 3 years.
• Re-appoint Aditya Vipinbhai Patel as Whole-time Director for 3 years.
• Maintain Register of Members and Annual Returns at MUFG Intime India RTA.

Dividend

• Final dividend of Rs 1.00 per equity share approved.

Directors

• Birva Chirag Patel re-appointed as Whole-time Director for 3 years (Apr 2027–Apr 2030).
• Aditya Vipinbhai Patel re-appointed as Whole-time Director for 3 years (Apr 2027–Apr 2030).

Auditors

• Remuneration payable to Cost Auditors for FY2026-27 ratified.

Related Party Transactions

• No material related party transactions approved.

Other Approvals

• Maintenance of Register and Annual Returns at MUFG Intime India Private Limited.

Re-appointment of Whole-Time Directors

• Re-appointment of Ms. Birva Chirag Patel as Whole-time Director for 2 Apr 2027 to 1 Apr 2030.
• Profile: Company Secretary; 2+ decades in corporate law and SEBI compliance; related to Chirag Patel.
• Re-appointment of Mr. Aditya Vipinbhai Patel as Whole-time Director for 2 Apr 2027 to 1 Apr 2030.
• Profile: BE E&C; MBA Finance; led international business; related to Vipinbhai Patel.

AGM Details

• AGM held on 17 Sep 2026 at 12:00 IST via VC/OAVM.
• Remote e-voting from 14–16 Sep 2026; AGM e-voting available.
• Cut-off date for voting entitlement was 10 Sep 2026.

Resolutions & outcomes

• Resolution 1: Adoption of Audited Financial Statements; Ordinary, passed.
• Resolution 2: Final dividend of Rs 1.00 per share; Ordinary, passed.
• Resolution 3: Re-appointment of Aditya Vipinbhai Patel; Ordinary, passed.
• Resolution 4: Re-appointment of Birva Chirag Patel; Ordinary, passed.
• Resolution 5: Ratification of Cost Auditor remuneration; Ordinary, passed.
• Resolution 6: Re-appointment of Birva Chirag Patel as Whole-time Director; Special, passed.
• Resolution 7: Re-appointment of Aditya Vipinbhai Patel as Whole-time Director; Special, passed.
• Resolution 8: Maintenance of Register & annual returns at RTA; Special, passed.

Dividend

• Final dividend of Rs 1.00 per equity share approved.

Director changes

• Birva Chirag Patel re-appointed as Whole-time Director for 3-year term.
• Aditya Vipinbhai Patel re-appointed as Whole-time Director for 3-year term.

Auditor remuneration

• Remuneration payable to Cost Auditors for FY2026-27 ratified.

Material Related Party Transactions

• No material related party transactions disclosed or approved.

AGM details

• AGM held on 17 Sept 2026 via VC/OAVM from 12:00 to 12:30 IST.

Resolutions considered

• Adoption of audited financial statements for FY2025-26 – ordinary.
• Final dividend of Rs 1.00 per share – ordinary.
• Re-appointment of Aditya Vipinbhai Patel by rotation – ordinary.
• Re-appointment of Birva Chirag Patel by rotation – ordinary.
• Remuneration of Cost Auditors ratified for FY2026-27 – ordinary.
• Re-appointment of Birva Chirag Patel as Whole-time Director for 3 years – special.
• Re-appointment of Aditya Vipinbhai Patel as Whole-time Director for 3 years – special.
• Maintain Register of Members at MUFG Intime India Pvt Ltd – special.

Voting status

• EVoting results to be declared within two working days.

Dividend

• Final dividend declared: Rs 1.00 per fully paid-up equity share.

Directors / management

• Birva Chirag Patel re-appointed as Whole-time Director for 3 years.
• Aditya Vipinbhai Patel re-appointed as Whole-time Director for 3 years.

Auditors

• Cost Auditor remuneration ratified for FY2026-27.

Other material approvals

• Maintain Register of Members at MUFG Intime India Pvt Ltd (RTA).

EU Certification at Sanand facility

• MB Engineering Ltd received EU Certification for its Sanand, Gujarat manufacturing facility.
• Certification strengthens regulatory credentials and manufacturing compliance across the company's facilities.
• Expected to enable expansion opportunities in the United Kingdom and European markets.
• Date of notification: 17 September 2026.

Financial performance

• Revenue from operations rose to ₹1,260 crore, up 27% YoY.
• EBITDA ₹157 crore, up 17%; EBITDA margin ~12.5%.
• PAT ₹93 crore, up 20%; PAT margin ~7.4%.
• Export revenue ₹165.6 crore, up 156%; exports ~13% of total.
• Orders on hand ₹1,083 crore; inflows ₹1,539 crore, up 28%.
• Phenix contributed ₹985 crore (78%); Proflex ₹275 crore (22%).
• Export orders outside India ₹279 crore to be executed FY27.
• Standalone net worth ₹65,596.11 Lacs; Consolidated ₹65,709.87 Lacs.
• Consolidated debt-to-equity negative; standalone also negative.

Segments and product mix

• Phenix division drives ~₹985 crore revenue (78% of total).
• Proflex division contributes ~₹275 crore (22%).
• Export markets underpin North America; 22 countries served.
• Phenix has strong in-house engineering and execution capabilities.
• Orders on hand skew ~Phenix 80% and Proflex ~20%.
• Phenix targets industrial, warehousing, infrastructure; Proflex focuses on rail, infrastructure.
• Export revenue supported by AISC and CWB certifications.

Capacity expansion and investments

• Sanand expansion: +20,000 MTPA; targeted Oct 2026.
• Cheyyar expansion: +20,000 MTPA; targeted FY28.
• Heavy structural steel line: +10,000 TPA; target Q1 FY28.
• Total PEB/structural steel capacity to ~154,000 TPA by FY28.
• Phenix combined capacity ~124,000 MTPA; sustained exports.
• Proflex capacity: two more mobile units; ~21 lakh sq m per annum.
• Sanand expansion increases capacity from 72,000 to 92,000 MTPA.
• Expects rising demand from manufacturing, warehousing, data centers, and logistics.

IPO and capital structure

• IPO completed Aug 6, 2025; fresh issue ₹275 cr; OFS ₹375 cr.
• Total paid-up capital rose to ₹57.15 cr from ₹50 cr.
• Net IPO proceeds ₹25,932 Lacs; utilisation track across defined objects.
• As of 31-Mar-2026, unutilised IPO proceeds ₹12,151.30 Lacs in fixed deposits/escrow.
• No material deviations reported in IPO proceeds utilization.

Dividend, ESOP and governance

• Final dividend proposed: ₹1.00 per share; record date 10-Sep-2026.
• ESOP 2024: 2,52,800 options granted; 2,35,950 outstanding.
• Loyalty exercise price ₹196.50; Performance ₹393.00; four-year vesting.
• Board comprises 12 directors; multiple independent directors; robust audit and nomination committees.
• Statutory auditors: Talati & Talati LLP; internal auditors: Manubhai & Shah LLP.

Risks and outlook

• Industry risks include steel price volatility and cyclical capex.
• Geopolitical risks and FX fluctuations could impact margins.
• Raw material supply and logistics costs remain key concerns.
• Management expects mid-to-long-term growth in India PEB demand; 25% revenue growth anticipated FY27.
• Export opportunities rise with North America exposure and global certifications.

Capital allocation and liquidity

• Consolidated net cash position reflected by negative debt-to-equity; healthy liquidity.
• Cash balances and fixed deposits support operations and capex.
• IPO proceeds enhanced balance sheet; ongoing capacity expansions funded through mix of debt and equity.

CSR and sustainability

• CSR expenditure for 2025-26: ₹143.00 Lacs; policy aligned with Schedule VII.
• CSR activities focused on education, healthcare, environment; governance and transparency maintained.

Voluntary disclosures and controls

• No material qualifications in statutory or secretarial audits.
• Robust internal financial controls and risk management framework in place.
• Management discussion includes forward-looking statements with usual caution on external factors.

Meeting Details

• Date: 25 August 2026; Time not disclosed.
• Type/Mode: Group investor/analyst meeting, in-person.
• Event/Organizer: Systematix Group – Recycled Materials & Steel Infrastructure Conference 2026.
• Purpose: Investor/analyst interaction to discuss publicly available documents.
• Participants: Company management representatives to attend.