Integrated Filing — IndAS



General information about company

Scrip Code 544470
NSE Symbol MBEL
MSEI Symbol NOTLISTED
ISIN INE08N601015
Name of company M & B Engineering Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2026
Date of end of financial year 31-03-2027
Date of board meeting when results were approved 05-11-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 30-10-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Second quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Single segment
Description of single segment Pre-Engineered Buildings, Structure Steels, Steel Roofing and Components thereof
Start date and time of board meeting 05-11-2026   11:45:00
End date and time of board meeting 05-11-2026   13:05:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2026 01-04-2026
B Date of end of reporting period 30-09-2026 30-09-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 38,467.47 67,577.39
Other income 250.52 758.64
Total income 38,717.99 68,336.03
2 Expenses
(a) Cost of materials consumed 27,102.87 46,772.37
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (606.74) (915.44)
(d) Employee benefit expense 3,305.87 6,470.81
(e) Finance costs 313.20 593.66
(f) Depreciation, depletion and amortisation expense 421.69 790.53
(f) Other Expenses
1 Other Expenses 4,587.12 8,103.42
Total other expenses 4,587.12 8,103.42
Total expenses 35,124.01 61,815.35
3 Total profit before exceptional items and tax 3,593.98 6,520.68
4 Exceptional items 0.00 0.00
5 Total profit before tax 3,593.98 6,520.68
6 Tax expense
7 Current tax 528.16 1,195.89
8 Deferred tax 116.33 185.15
9 Total tax expenses 644.49 1,381.04
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 2,949.49 5,139.64
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 2,949.49 5,139.64
17 Other comprehensive income net of taxes (25.77) (71.22)
18 Total Comprehensive Income for the period 2,923.72 5,068.42
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 0.00 0.00
Total profit or loss, attributable to non-controlling interests 0.00 0.00
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 0.00 0.00
Total comprehensive income for the period attributable to owners of parent non-controlling interests 0.00 0.00
21 Details of equity share capital
Paid-up equity share capital 5,716.07 5,716.07
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 5.12 8.87
Diluted earnings (loss) per share from continuing operations 5.12 8.87
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 5.12 8.87
Diluted earnings (loss) per share from continuing and discontinued operations 5.12 8.87
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1 The above unaudited financial results of the company for the quarter and half year ended September 30,2026 have been reviewed by audit committee and approved by Board of Directors of Company at its meeting held on November 5, 2026. The financial results for quarter and half year ended September 30, 2026 have been subjected to limited review by the statutory auditors of the Company. The Limited Review Report does not contain any qualification. 2 The above unaudited financial results of the Company have been prepared in accordance with recognition and measurement principles of Indian Accounting Standards(“Ind-AS”) as prescribed under Section133 of the Companies Act,2013 read with relevant rules issued thereunder and in terms of the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015,as amended (the “Listing Regulations”).The unaudited results of M & B Engineering Limited will be made available on Company’s website www.mbel.in and on websites of BSE www.bseindia.com and NSE www.nseindia.com. 3 The Company's activities are involved in manufacturing, supply, erection and installation of Pre-Engineered Buildings, Structure Steels, Steel Roofing and Components thereof and the management reviews the performance of the company as a single operating segment in accordance with IndAS-108“Operating Segments notified pursuant to the Companies (Indian Accounting Standard) Rules2015. Accordingly, no separate segment information has been furnished. 4 The Company has formulated an employee stock option scheme namely the ESOP Scheme 2024 pursuant to resolutions passed by the Board on 6th June, 2024 and the Shareholders on 6th June, 2024. The ESOP Scheme 2024 has been amended vide Board resolution dated 14th July, 2025 and our Shareholders’ special resolution dated 15th July, 2025. The company is authorised to Grant 7,50,000 options at its discretion. On 15th July,2025 the company granted 2,52,800/- options to eligible employees. During the current quarter, 12,503/- equity shares of INR 10/- each were issued and allotted under the Company’s ESOP Scheme 2024. The following table summarizes the details of options under “The ESOP Scheme 2024”, during each period/year presented: Particulars Quarter ended Half Year Ended Year ended 30.09.2026 30.06.2026 30.09.2025 30.09.2026 30.09.2025 31.03.2026 Unaudited Unaudited Unaudited Unaudited Unaudited Audited ESOP Expense (INR in lakhs) 39.16 56.80 Nil 95.96 Nil 170.99 Options Forfeited/Lapsed (In Nos) 1,280 8,740 Nil 10,020 Nil 16,850 Options Exercised (In Nos) 12,503 Nil Nil 12,503 Nil Nil 5 During the previous year ended March 31, 2026, the Company has completed its Initial Public Offer (“IPO”) of 1,68,88,474 equity shares (including 57,306 equity shares issued to employees) of face value of INR 10 each at an issue price of share INR 385 per share (INR 349 per share for equity shares issued to employees) comprising fresh issue of 71,48,215 equity shares and offer for sale of 97,40,259 equity shares by selling shareholders, resulting in equity shares of the Company being listed on National Stock Exchange of India Limited ('NSE') and BSE Limited ('BSE') on August 6, 2025. 6 Consequent to allotment of fresh issue, the paid up equity share capital of the company stands increase from INR 5,000 lakhs consisting of 5,00,00,000 equity shares of Rs. 10 each to INR 5,714.82 lakhs consisting of 5,71,48,215 equity shares of Rs. 10 each. 7 The breakup of IPO proceeds from fresh issue is summarized below: Particulars Amount (INR in lakhs) Amount received from fresh issue 27,500.00 Less: Offer Expense in relation to fresh issue 1,568.00 Net IPO proceeds available for utilization 25,932.00 8 Details of Net IPO proceeds available for utilization are as follows: Sr. No. Item Head Amount as Proposed in the offer Document (INR In lakhs) At the end of the quarter (INR In lakhs) Total unutilized amount (INR In lakhs) 1 Funding the capital expenditure requirements for the purchase of equipment and machinery, building works, solar rooftop grid and transport vehicles at our Manufacturing Facilities 13,057.90 3,233.80 9,824.10 2 Investment in IT software upgradation by our Company 520.00 - 520.00 3 Re-payment or pre-payment of term loans, in full or in part, of certain borrowings availed by our Company 5,875.00 5,875.00 - 4 General Corporate Purposes 6,479.10 6,418.40 60.70 Total 25,932.00 15,527.20 10,404.80 9 Details of Net IPO proceeds remaining unutilized as on September 30,2026: Sr. No. Unutilized Balance invested in Amount invested (INR in lakhs) 1 Fixed Deposits with banks 10,044.00 2 Monitoring Account Balance 308.30 3 Escrow Account Balance 52.50 Total 10,404.80 10 The Ministry of Labour & Employment (MoLE), Government of India. has announced the implementation of four Labour Codes viz. the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020, effective November 21, 2025. On the basis of information available, the Company has assessed and accrued the incremental impact for these changes at current estimate of 115.22 lakhs and disclosed as an 'Exceptional Item- Statutory impact of new Labour Codes' in the audited financial results of the Company for previous year ended March 31,2026. The Company continues to monitor the finalisation of Central / State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effect on the basis of such developments as needed. 11 The consolidated unaudited financial results of the Company are comprising of its subsidiary i.e., unaudited financial results of M/s. Phenix Building Solutions Private Limited and unaudited financial results of Phenix Construction Technologies INC. which are certified by management. 12 During the current quarter, the Company’s shareholders approved a final dividend of INR 1 per share for FY 2025–26 at the AGM held on September 17, 2026 and consequently, it recorded a dividend payable aggregating to INR 571.61 lakhs. 13 The Company previously charged depreciation on Property, Plant, and Equipment for the assets of the Proflex Division using the Written Down Value (WDV) method. Effective 1st April 2026, based on a technical assessment of the expected pattern of consumption of future economic benefits embodied in the assets, the Company changed its depreciation method from WDV to the Straight Line Method (SLM) for all assets of the Proflex Division. There is no material impact of this change in depreciation expense or profitability. 14 Figures, wherever required, are regrouped / rearranged.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2026
Date of end of reporting period 30-09-2026
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 22,801.63
Capital work-in-progress 2,621.45
Investment property
Goodwill 0.81
Other intangible assets 396.90
Intangible assets under development
Biological assets other than bearer plants
Investments accounted for using equity method
Non-current financial assets
Non-current investments 0.00
Trade receivables, non-current
Loans, non-current 30.00
Other non-current financial assets
Total of other non-current financial assets
Total non-current financial assets 30.00
Deferred tax assets (net)
Other non-current assets
1 Other non-current assets 3,567.96
Total of other non-current assets 3,567.96
Total non-current assets 29,418.75
2 Current assets
Inventories 35,830.73
Current financial asset
Current investments 0.00
Trade receivables, current 24,670.83
Cash and cash equivalents 5,823.89
Bank balance other than cash and cash equivalents 13,390.86
Loans, current 39.46
Other current financial assets
Total of other current financial assets 0.01
Total current financial assets 43,925.05
Current tax assets (net)
Other current assets
1 Other current assets 6,965.78
Total of other current assets 6,965.78
Total current assets 86,721.56
3 Non-current assets classified as held for sale
4 Regulatory deferral account debit balances and related deferred tax Assets
Total assets 1,16,140.31
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 5,716.07
Other equity 64,673.60
Total equity attributable to owners of parent 70,389.67
Non controlling interest
Total equity 70,389.67
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 2,252.85
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises
Total Trade payable
Other non-current financial liabilities
1 Lease Liability 425.29
2 Other non-current financial liabilities 217.13
Total of other non-current financial liabilities 642.42
Total non-current financial liabilities 2,895.27
Provisions, non-current 0.00
Deferred tax liabilities (net) 1,014.56
Deferred government grants, Non-current
Other non-current liabilities
Total of other non-current liabilities
Total non-current liabilities 3,909.83
Current liabilities
Current financial liabilities
Borrowings, current 8,298.89
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 2,972.11
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 13,753.08
Total Trade payable 16,725.19
Other current financial liabilities
1 Lease liability 118.47
2 Other current financial liabilities 1,454.28
Total of other current financial liabilities 1,572.75
Total current financial liabilities 26,596.83
Other current liabilities 13,711.87
1 Other current liabilities 13,711.87
Total of other current liabilities 13,711.87
Provisions, current 1,532.11
Current tax liabilities (Net)
Deferred government grants, Current
Total current liabilities 41,840.81
3 Liabilities directly associated with assets in disposal group classified as held for sale
4 Regulatory deferral account credit balances and related deferred tax liability
Total liabilities 45,750.64
Total equity and liabilites 1,16,140.31
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-07-2026 01-04-2026
Date of end of reporting period 30-09-2026 30-09-2026
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2026 01-04-2026
B Date of end of reporting period 30-09-2026 30-09-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Remeasurement of Employee Defined Benefit Plan (19.28) (53.29)
Total Amount of items that will not be reclassified to profit and loss (19.28) (53.29)
2 Income tax relating to items that will not be reclassified to profit or loss 6.49 17.93
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss
5 Total Other comprehensive income (25.77) (71.22)



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2026
B Date of end of reporting period 30-09-2026
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 6,520.68
Adjustments for reconcile profit (loss)
Adjustments for finance costs 593.66
Adjustments for decrease (increase) in inventories (929.33)
Adjustments for decrease (increase) in trade receivables, current (757.18)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets 585.32
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current 0.57
Adjustments for other bank balances 3,779.95
Adjustments for increase (decrease) in trade payables, current (4,654.83)
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities (3,731.45)
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 790.53
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 276.12
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 204.87
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains (94.94)
Adjustments for dividend income 3.86
Adjustments for interest income 324.33
Adjustments for share-based payments 95.96
Adjustments for fair value losses (gains) 0.00
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items 0.00
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) (4,168.94)
Net cash flows from (used in) operations 2,351.74
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 1,721.81
Other inflows (outflows) of cash (177.48)
Net cash flows from (used in) operating activities 452.45
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 0.00
Purchase of property, plant and equipment 7,158.18
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 539.73
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 3.86
Interest received 319.52
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 549.61
Net cash flows from (used in) investing activities (5,745.46)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 10.98
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 2,894.00
Repayments of borrowings 240.06
Payments of lease liabilities (89.37)
Dividends paid 0.00
Interest paid 593.66
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (571.61)
Net cash flows from (used in) financing activities 1,589.02
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (3,703.99)
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents (3,703.99)
Cash and cash equivalents cash flow statement at beginning of period 9,527.88
Cash and cash equivalents cash flow statement at end of period 5,823.89