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MBL Infrastructures Ltd Stock Analysis

Small Cap
Evaluated by 616 users | BSE: 533152 | NSE: MBLINFRA |
Engineering - Construction
MBL Infrastructures is engaged in the construction and maintenance of roads and highways, industrial infrastructure projects and other civil engineering projects for various government bodies and other clients. MBL has a fast growing business that provides integrated engineering, procurement...

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Value Creation
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 18.19%17.4%11.92%13.86%13.02%11.62%2.48%7.04%-2.22%9%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 9921,2511,3431,7541,9482,3142,271487147166
Y-o-Y Gr. Rt.-26.2%7.3%30.6%11.1%18.8%-1.9%-78.6%-69.9%13.3%
Adjusted EPS (Rs.) 17.2220.1815.8521.3719.3520.56-15.53-9.93-4.0714.8
Y-o-Y Gr. Rt.-17.2%-21.5%34.8%-9.5%6.3%-175.5%NANANA
Book Value per Share (Rs.) 79.2197.69111.74131.44156.06176.29158.83216.6368.75102.58
Adjusted Net Profit 60.370.755.574.980.285.2-64.4-41.2-42.6155
Net Op. Cash Flow (Rs. Cr.) -11.48.54.9163-152-15.9-31212.2155-127
Debt to Cash Flow from Ops -20.2142.1396.513.1-4.67-57.09-4.3466.86.24-6.37
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
MBL Infrastructures Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales -18%-38.9%-58.2%13.3%
Adjusted EPS -1.7%-5.2%NANA
Book Value per Share 2.9-8.1-13.649.2
Share Price -13.6% -35.1% -8.6% 352.2%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 24.1422.8215.1417.5814.4912.37-9.27-5.29-5.2717.28
Operating Profit Margin (%) 12.8712.689.9810.2911.8610.20.597-40-28.28
Net Profit Margin (%) 6.085.654.134.274.123.68-2.84-8.46-29.0793.29
Debt to Equity 0.831.041.21.091.11.242.050.911.340.75
Working Capital Days 1991942492372612683031,5065,0354,409
Cash Conversion Cycle 121146177160179182111-8886-68
Entity Percentage Holding
Promoters 68.49%
Non-Institutions 31.51%
Pledged *2.762.762.762.762.762.762.762.762.762.76
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of MBL Infrastructures Ltd's performance infers:

MBL Infrastructures Ltd earnings have declined by -5.2%, whereas share price has depreciated -35.1% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of MBL Infrastructures Ltd share prices over the last 10 years. Here is what we found out:

MBL Infrastructures Ltd share price has depreciated -14.9% annually over the past ten years.

MBL Infrastructures is engaged in the construction and maintenance of roads and highways, industrial infrastructure projects and other civil engineering projects for various government bodies and other clients. MBL has a fast growing business that provides integrated engineering, procurement and construction services for civil construction and infrastructure sector projects. The company has a pan India presence and has executed and undertaken a number of projects in the states of West

MBL Infrastructures is engaged in the construction and maintenance of roads and highways, industrial infrastructure projects and other civil engineering projects for various government bodies and other clients. MBL has a fast growing business that provides integrated engineering, procurement and construction services for civil construction and infrastructure sector projects. The company has a pan India presence and has executed and undertaken a number of projects in the states of West Bengal, Madhya Pradesh, Uttarakhand, Orissa, Maharashtra, Rajasthan, Assam, Uttar Pradesh, Bihar, Delhi, Andhra Pradesh, Chattisgarh, Jharkhand, Haryana and Karnataka.

MBL has ready mix concrete (RMC) to ensure adequate and timely supply of high quality RMC and also sells RMC to third parties. MBL is also engaged in steel trading and waste management (ferrous scrap and slag recycling) at major steel plants. It has quarrying and mining division to ensure adequate and timely supply of bulk raw material of stone aggregates and also sells surplus stone aggregates to third parties.

MBL has successfully completed the execution of BOT project of 114 kilometers (Km) of Seoni- Balaghat- Rajegaon State Highway under the Public Private Partnership (PPP) arrangements. MBL was among the first batch of contractors to be awarded the contracts of prestigious North South East MBLst Corridor by NHAI and was the first to complete the project.  Moreover, it was also the first to be awarded the comprehensive maintenance of Ring Road and outer Ring Road, the most important corridors of Delhi. MBL also have early mover advantage for maintenance and operation of National Highways. It has successfully completed the work of construction of additional length of service road and side drains from 146 Km to 156 Km including 2-lane flyover on Guwahati Bypass section of NH-37 in the state of Assam.

MBL is managed by a qualified team having prior experience in construction activity. It owns a fleet of equipments, including hot mix plants, sensor pavers, tandom rollers, soil compactors, stone crushers, tippers, loaders, excavators, motorgraders, concrete batching plants, transit mixers, concrete pumps, reversible drum mixers, dozers and cranes.

Milestones:

  • 1996 - Took over Maheshwari Brothers, a partnership firm engaged in the business of trading in steel and waste management at steel plants.
  • 1999 - Was awarded the first batch of contracts for the north-south-east-west corridor projects by the National Highways Authority of India (NHAI)
  • 2000 - The plant and machinery of the company were revalued on Net Replacement Value based on reports submitted by an approved valuer. Net appreciation of Rs. 954.35 lakhs in the value of plant and machinery were credited to the Revaluation Reserve
  • 2001 - Completed four laning of Agra-Gwalior section of National Highway 3 from 41 Km to 51 Km near Dholpur, Rajasthan, for a project value of Rs. 2,052 lakhs, the first to be completed under the northsouth- east-west corridor project by NHAI. Completed the rehabilitation and maintenance of the Tumkur - Harihar section of National Highway 4 for NHAI for Rs. 1,161 lakhs. Also awarded the BOT Project of Seoni-Balaghat-Rajegaon state highway by the Madhya Pradesh Rajya Setu Nirman Nigam (now the Madhya Pradesh Road Development Corporation)
  • 2002- AAP Infrastructure was incorporated as a special purpose vehicle for the purposes of execution of the BOT project.
  • 2003 - Completed two projects for NHAI, a maintenance and toll operations project and a maintenance project
  • 2004 - Completed 60 Km to 70 Km of the four lane Agra-Gwalior section of National Highway in Madhya Pradesh
  • 2005 - Awarded contract for the comprehensive maintenance of Ring Road and Outer Ring Road at the National Capital Territory of Delhi. Also entered into a joint venture with Telecommunications Consultants India (Joint Venture). The joint venture was awarded the contract, valued at Rs 16,700 lakhs.
  • 2006 - AAP Infrastructure became a wholly owned subsidiary of the company.
  • 2007- Awarded the Industrial Infrastructure Development project by Steel Authority of India (SAIL) and Indian Iron and Steel Company (IISCO)
  • 2008 - Completed the development work of its first BOT project on the 114 Km Seoni-Balaghat-Rajegaon state highway.

Subsidiary:

  • AAP Infrastructure - AAP Infrastructure is a 100 % subsidiary company formed as a Special Purpose Vehicle to undertake the build-operate-transfer (BOT) project with the Madhya Pradesh Road Development Corporation on the Seoni-Balaghat-Gondia road in India’s heartland. The subsidiary will be responsible for toll collection for a total concession period of 15 years from project commencement.

Joint ventures:

  • Supreme Infrastructure India
  • Telecommunications Consultants India
  • Calcutta Industrial Supply Corporation
  • Lakeshwari Builders

Clients:

  • National Highways Authority of India (NHAI)
  • Uttar Pradesh Public Works Department, World Bank division
  • Public Works Department, NCT, New Delhi
  • Mumbai Metropolitan Region Development Authority
  • Madhya Pradesh Road Development Corporation
  • Steel Authority of India
  • BSRDC
  • Central Public Works Department
  • Public Works Department, West Bengal
  • Haryana Urban Development Authority
  • Municipal Corporation of Delhi
  • Public Works Department, Uttarkhand
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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