M&B Engineering FY26 PAT Rises 20.2% to ₹92.64 cr; Results Published in Press

M&B Engineering has reported its audited standalone and consolidated financial results for the quarter and full year ended March 31, 2026. The Board of Directors, which met on May 12, 2026, approved the results and recommended a final dividend of ₹1/- per equity share of ₹10/- each for FY2025-26, subject to shareholder approval. The company also formally confirmed, pursuant to SEBI Listing Regulations, that there are no deviations or variations in the utilisation of IPO proceeds for the quarter ended March 31, 2026, as against the objects stated in the offer letter. Pursuant to Regulations 30 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the extracts of the audited standalone and consolidated financial results were published in Business Standard (English Edition) and Jai Hind (Gujarati Edition) on May 13, 2026. Following the announcement, an earnings conference call was held on May 12, 2026, with management representatives including Mr. Chirag Patel, Joint Managing Director, Mr. Malav Patel, Joint Managing Director, Mr. Sanjay Majmudar, Director, and Mr. Keyur Shah, Chief Financial Officer.

Q4FY26 Consolidated Financial Performance

M&B Engineering's latest quarterly results reflect continued revenue momentum offset by margin pressure. The following table summarises the key consolidated financial metrics for Q4FY26:

Metric: Q4FY26 Q4FY25 YoY Change Revenue from Operations: ₹363.70 cr ₹313.64 cr +16.0% Total Income: ₹368.99 cr ₹315.99 cr +16.8% EBITDA: ₹43.15 cr ₹43.92 cr -1.75% EBITDA Margin: 11.9% 14.0% — Profit Before Tax (before exceptional items): ₹35.76 cr ₹34.87 cr +2.5% Profit After Tax: ₹27.00 cr ₹28.51 cr -5.3% PAT Margin: 7.4% 9.1% — Basic EPS (consolidated): ₹4.76 ₹5.70 —

Revenue from operations for the quarter rose to ₹363.70 cr from ₹313.64 cr in the same period last year, marking the highest-ever quarterly revenue for the company. However, consolidated profit after tax declined to ₹27.00 cr from ₹28.51 cr year-on-year, and EBITDA contracted marginally to ₹43.15 cr from ₹43.92 cr, with the EBITDA margin narrowing to 11.9% from 14.0% in the corresponding quarter of the previous year.

FY26 Full Year Consolidated Performance

For the full financial year, M&B Engineering delivered robust growth across key parameters. The table below presents the annual consolidated performance:

Metric: FY26 FY25 YoY Change Revenue from Operations: ₹1,259.72 cr ₹988.55 cr +27.4% Total Income: ₹1,275.39 cr ₹996.89 cr +27.9% EBITDA: ₹157.19 cr ₹134.71 cr +16.69% EBITDA Margin: 12.48% 13.63% — Profit Before Tax (before exceptional items): ₹124.72 cr ₹102.23 cr +22.0% Profit After Tax: ₹92.64 cr ₹77.05 cr +20.2% PAT Margin: 7.4% 7.8% — Basic EPS (consolidated): ₹16.94 ₹15.41 —

The company achieved a 4-year revenue CAGR of 31.5% (FY22–FY26) and a PAT 4-year CAGR of 54.4% (FY22–FY26). ROCE stood at 23.1% and ROE at 19.2% for FY26.

Standalone Financial Highlights

On a standalone basis, M&B Engineering reported the following key figures for Q4FY26 and FY26:

Metric: Q4FY26 Q4FY25 FY26 FY25 Revenue from Operations: ₹31,431.08 lakh ₹29,036.88 lakh ₹1,08,478.34 lakh ₹90,915.69 lakh Profit After Tax: ₹1,928.33 lakh ₹2,804.27 lakh ₹7,876.26 lakh ₹7,400.75 lakh Basic EPS: ₹3.36 ₹5.61 ₹14.40 ₹14.80

The standalone results include an exceptional item of ₹99.14 lakh pertaining to the statutory impact of new Labour Codes, following the Government of India's announcement of implementation of four Labour Codes effective November 21, 2025. On a consolidated basis, the exceptional item was assessed at ₹115.22 lakh.

Subsidiary Details

The consolidated audited financial results comprise the results of M&B Engineering's subsidiaries — Phenix Building Solutions Private Limited and Phenix Construction Technologies INC, USA. The financial results of Phenix Construction Technologies INC, USA (the foreign subsidiary), which were certified by management, reflect the following:

Parameter: Details Total Assets (as at March 31, 2026): ₹8,036.22 lakh Total Revenues: ₹15,340.12 lakh Net Cash Flows: ₹250.85 lakh Group's Share of Net Profit: ₹192.73 lakh

Order Book & Business Momentum

M&B Engineering reported strong order inflow and order book metrics, underscoring sustained demand visibility:

Parameter: Details Unexecuted Order Book (as of March 31, 2026): ₹1,083 cr Order Book YoY Growth: 35% Phenix Division (Order Book): ₹871 cr (80%) Proflex Division (Order Book): ₹212 cr (20%) Export Orders within Phenix: ₹279 cr Q4FY26 Order Inflows: ₹387 cr (+10% YoY) FY26 New Order Inflows: ₹1,539 cr (+28% YoY) Q4FY26 Domestic Order Secured: ₹73 cr April 2026 Domestic Order (post period): ₹72 cr

FY26 marked the highest-ever order inflow of ₹1,539 cr, supported by sustained increase in demand for pre-engineered buildings (PEBs) and self-supported roofing systems. The unexecuted order book's 4-year CAGR stood at 24.1%, reflecting sustained global adoption of technology-led construction. During FY26, the company incurred capital expenditure of ₹33 cr, primarily directed towards capacity augmentation and operational strengthening.

Balance Sheet & Working Capital

As at March 31, 2026, total consolidated assets stood at ₹1,16,062.20 lakh compared to ₹84,921.49 lakh as at March 31, 2025. Total equity improved significantly to ₹65,709.87 lakh from ₹30,653.66 lakh, reflecting the impact of the IPO completed during the year. The working capital cycle on a consolidated basis is summarised below:

Parameter: FY26 FY25 Inventories (₹ cr): 349.01 322.38 Inventory Days: 101 119 Receivables (₹ cr): 239.14 192.36 Receivable Days: 69 71 Trade Creditors (₹ cr): 286.90 337.96 Creditor Days: 83 125 Advance from Customers (₹ cr): 165.49 87.78 Net Working Capital Days: 39 33

IPO Proceeds Utilisation

M&B Engineering completed its Initial Public Offer (IPO) of 1,68,88,474 equity shares at an issue price of ₹385 per share, raising Rs. 275 Crores (Fresh Issue), with shares allotted on August 4, 2025 and listed on NSE and BSE on August 6, 2025. The net IPO proceeds available for utilisation stood at ₹25,932 lakh after offer expenses of ₹1,568 lakh. Pursuant to SEBI Listing Regulations, the company has formally confirmed that there are no deviations or variations in the utilisation of IPO proceeds for the quarter ended March 31, 2026, as against the objects stated in the offer letter. The IPO proceeds are monitored by Crisil Ratings Limited as the designated monitoring agency. The utilisation status as on March 31, 2026 is as follows:

Item Head: Proposed (₹ lakh) Utilised (₹ lakh) Unutilised (₹ lakh) Capital Expenditure (equipment, machinery, building, solar, vehicles): 13,057.90 1,487.30 11,570.60 IT Software Upgradation: 520.00 — 520.00 Repayment/Prepayment of Term Loans: 5,875.00 5,875.00 — General Corporate Purposes: 6,479.10 6,418.40 60.70 Total: 25,932.00 13,780.70 12,151.30

The unutilised balance of ₹12,151.30 lakh as on March 31, 2026 was invested in fixed deposits (₹11,810.00 lakh), MA Account (₹288.70 lakh), and Escrow Account (₹52.60 lakh). Consequent to the IPO allotment, the paid-up equity share capital increased from ₹5,000 lakh (5,00,00,000 equity shares of ₹10 each) to ₹5,714.82 lakh (5,71,48,215 equity shares of ₹10 each).

ESOP Scheme

The company has formulated an employee stock option scheme — ESOP Scheme 2024 — pursuant to resolutions passed by the Board and Shareholders on June 6, 2024. The scheme was subsequently amended vide Board resolution dated July 14, 2025 and a Shareholders' special resolution dated July 15, 2025. The company is authorised to grant 7,50,000 options at its discretion, and on July 15, 2025, the company granted 2,52,800 options to eligible employees.

Board Meeting & Earnings Conference Call

The board meeting was convened to consider and approve the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, along with recommending a final dividend of ₹1/- per equity share for FY2025-26. Both intimations were signed by Palak Dilipbhai Parekh, Company Secretary & Compliance Officer. The statutory auditors, Talati & Talati LLP, issued an unmodified opinion on both standalone and consolidated financial results.

Following the results announcement, M&B Engineering hosted an earnings conference call on May 12, 2026 at 4:00 PM (IST). The company was represented at the call by Mr. Chirag Patel, Joint Managing Director, Mr. Malav Patel, Joint Managing Director, Mr. Sanjay Majmudar, Director, and Mr. Keyur Shah, Chief Financial Officer. The call details are as follows:

Parameter: Details Date: Tuesday, May 12, 2026 Time: 16:00 hrs (IST) India (Universal Access): +91 22 6280 1107 / +91 22 7115 8008 UK: 08081011573 USA: 18667462133 Singapore: 8001012045 Hong Kong: 8009644448

For further inquiries, participants may contact Keyur Shah, CFO, at keyur@mbphenix.com , or reach out to EY representatives Krishna Patel and Arpit Mundra. The audio recording of the earnings conference call is available on the company's website at https://www.mbel.in/investors . No unpublished price sensitive information was shared during the call.

Newspaper Publication of Financial Results

Pursuant to Regulations 30 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, M&B Engineering published extracts of its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026 in Business Standard (English Edition) and Jai Hind (Gujarati Edition) on May 13, 2026. The intimation was signed by Chirag H. Patel, Joint Managing Director, and has also been uploaded on the company's website at https://www.mbel.in/investors .

Trading Window Closure

In line with the company's Code of Conduct for prevention of Insider Trading and SEBI (Prohibition of Insider Trading) Regulations, 2015, the Trading Window for designated persons of the company remained closed. As previously intimated to the exchanges via a letter dated March 24, 2026, the Trading Window was to continue closed until 48 hours after the declaration of financial results for the year ended March 31, 2026.

About M&B Engineering

Founded in 1981, M&B Engineering Ltd. is one of India's leading Pre-Engineered Buildings (PEBs) players offering comprehensive turnkey solutions, with a track record of over 24 years. The company operates through two core divisions — Phenix Construction Technologies (Phenix) and Proflex Roofing Solutions (Proflex) — with strategically located manufacturing facilities at Sanand (Gujarat) and Cheyyar (Tamil Nadu) for PEBs, and 15 mobile manufacturing units for self-supported roofing systems. As of March 31, 2026, the company has successfully executed over 10,200 projects across these divisions, having served customers in 23 countries including the US, Canada, Brazil, South Africa, Qatar, Sri Lanka, Morocco, Nigeria, Kenya, and Seychelles.