MBEL enters FY27 with Rs 1,053 cr order book and 25% growth target
Management expects revenue growth of over 25% in FY27 and plans a 20,000 TPA Cheyyar expansion by Q3 FY28.
Filed 10 Aug 2026, 12:54 IST · MBEL (MBEL)
Key takeaways
- Standalone Q1FY27 net profit was Rs 14.64 cr, with operating margin at 7.77%.
- Other income of Rs 5.35 cr was a notable contributor to profit before tax of Rs 19.47 cr.
- Management said orders on hand rose 25% year on year to Rs 1,053 cr.
Q1FY27 profit was supported by operating earnings and other income
MBEL reported standalone revenue of Rs 264.7 cr and operating profit of Rs 20.57 cr in Q1FY27. After interest of Rs 2.77 cr and depreciation of Rs 3.68 cr, profit before tax stood at Rs 19.47 cr. Other income of Rs 5.35 cr was a meaningful component of pre-tax profit, so the quarter's earnings were not entirely generated by operations.
Operating margin was 7.77% with no cost-driver comparison disclosed
The reported operating margin was 7.77%, while expenses were Rs 244.13 cr against revenue of Rs 264.7 cr. The available results do not include a sequential or year-on-year driver breakdown, so the direction of cost growth and the reason for any margin movement cannot be assessed from this filing.
Order book growth gives visibility to the FY27 operating plan
Management said orders on hand were Rs 1,053 cr, up 25% year on year. The Phenix division accounted for Rs 837 cr of this order book, including Rs 278 cr of export orders, most of which management said would be shipped during the current fiscal.
Cheyyar expansion would add 20,000 TPA of PEB capacity
Management said it would implement a brownfield expansion at Cheyyar, adding 20,000 tonnes per annum of pre-engineered building capacity. The company told investors that the project is targeted for completion in Q3 FY28, after which total PEB and structural steel capacity would reach 154,000 tonnes per annum. Management also said it expects revenue growth of over 25% in FY27.
Q1FY27 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹265 cr |
| Other income | ₹5 cr |
| Expenses | ₹244 cr |
| Operating profit | ₹21 cr |
| Operating margin (%) | 7.77% |
| Interest | ₹3 cr |
| Depreciation | ₹4 cr |
| Profit before tax | ₹19 cr |
| Tax | ₹5 cr |
| Net profit | ₹15 cr |
| EPS (₹) | ₹2.49 |
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
Guidance & outlook
- M&B expects to deliver revenue growth of over 25% in FY27.
Expansion
- M&B will implement a Cheyyar brownfield expansion adding 20,000 TPA of PEB capacity, targeted for completion in Q3 FY28.
- After the planned Cheyyar expansion, total PEB and structural steel capacity will reach 154,000 tonnes per annum in Q3 FY28.
New orders
- Orders on hand were ₹1,053 crore, up 25% year on year.
- Phenix accounted for ₹837 crore of orders on hand, including ₹278 crore of export orders, mostly to be shipped in the current fiscal.
What to watch
- Whether orders on hand remains above Rs 1,053 cr in the next update.
- Progress toward the planned 20,000 TPA Cheyyar capacity addition targeted for Q3 FY28.
- Whether operating margin improves from the reported 7.77% as management pursues over 25% FY27 revenue growth.