M&B Engineering
July 30, 2025 – August 1, 2025
| Price | ₹366 - ₹385 |
| Premium | ₹50 |
|---|---|
| Lot size | 38 |
| Allotment | Aug 4, 2025 |
| Listing | Aug 6, 2025 |
🔷 About – M&B Engineering Ltd
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 38 | ₹14,630 | 44,293 |
| sHNI | 14 | 532 | ₹2,04,820 | 1,582 |
| bHNI | 69 | 2,622 | ₹10,09,470 | 3,164 |
🔷 IPO Details
| Detail | Information |
|---|---|
| Total Issue Size | 1,68,83,117 shares (aggregating up to ₹650.00 Cr) |
| Fresh Issue | 7,142,857 shares (aggregating up to ₹275.00 Cr) |
| Offer For Sale | 9,740,260 shares (aggregating up to ₹375.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 5,00,00,000 shares |
🔷 IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB | Not more than 75% of the Net Offer |
| Retail | Not less than 10% of the Net Offer |
| NII | Not less than 15% of the Net Offer |
🔷 Key Performance Indicators (KPIs)
| KPI | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE | 25.13% | 19.68% | 18.89% |
| ROCE | 24.80% | 19.17% | 19.70% |
| EPS (Basic) | 15.41 | 9.17 | 6.82 |
| Metric | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| Assets | 849.21 | 633.11 | 558.79 |
| Revenue | 996.89 | 808.26 | 889.00 |
| Profit After Tax | 77.05 | 45.63 | 32.89 |
| EBITDA | 126.38 | 79.62 | 66.43 |
| Net Worth | 306.53 | 233.03 | 180.51 |
| Reserves & Surplus | 256.53 | 183.03 | 160.51 |
| Total Borrowing | 186.13 | 204.84 | 148.75 |
Company Overview
Established in 1981, the company has built a strong reputation in India’s industrial infrastructure landscape. It specializes in the design, manufacturing, and installation of Pre-Engineered Buildings (PEBs) and Self-Supported Steel Roofing Systems, delivering cutting-edge structural solutions across diverse sectors.
Core Business & Solutions
With a design-led manufacturing approach, the company provides end-to-end services—right from conceptual engineering and detailed design to fabrication and testing. Its expertise lies in offering high-performance, reliable, and scalable structural systems that meet global standards.
Key Offerings:
-----> Pre-Engineered Buildings (PEBs)
-----> Heavy & Light Structural Steel Components
-----> Advanced Steel Roofing Solutions
These solutions are crafted for durability, flexibility, and efficiency—tailored to meet the needs of fast-evolving industries.
Industries Served
The company’s structural innovations support a broad spectrum of sectors, including:
-----> General Engineering
-----> Manufacturing & Industrial Plants
-----> Food and Beverage Processing
-----> Warehousing & Logistics
-----> Textile Industry
-----> Railways & Metro Infrastructure
-----> Power & Utilities
Its sector-wise adaptability makes it a preferred choice for both domestic and international infrastructure projects.
Manufacturing Infrastructure
Operating from two state-of-the-art manufacturing plants, the company ensures quality, scalability, and timeliness in project execution:
-----> Sanand, Gujarat – Operational since 2008
-----> Cheyyar, Tamil Nadu – Commenced operations in 2024
Together, these facilities boast a total capacity of 103,800 MTPA for PEB production, supported by modern equipment and digital design systems. Additionally, 14 mobile roofing units provide agile on-site execution across India.
Global Footprint
The company has been exporting structural components since FY2010, successfully delivering projects in 22 countries, including:
-----> USA
-----> Brazil
-----> South Africa
-----> Qatar
-----> Sri Lanka
-----> Nigeria
-----> Morocco
-----> Kenya
-----> Seychelles
This global presence reinforces its credibility and competitiveness on the international stage.
Competitive Strengths
1. Market Leadership in Roofing & PEB:
With an annual capacity of over 103,800 MTPA, the company is among the top players in India’s PEB segment and commands a 75% market share in the self-supported steel roofing category.
– (Source: CRISIL Report)
2. Robust Financial Growth:
The firm stands out among its peers with impressive growth metrics—recording a 38.0% CAGR in Operating Profit (OPBDIT) and a 67.3% CAGR in Profit After Tax (PAT) during FY22–FY24.
– (Source: CRISIL Report)
3. Fully Integrated & Scalable Operations:
Strategic plant locations and integrated design-to-delivery capabilities ensure speed, quality, and scale. The presence of mobile roofing units further adds to the agility in executing multi-location and time-sensitive projects.
Challenges & Risks
1. Facility Dependency:
The company’s operations are heavily reliant on its Sanand and Cheyyar plants. Any disruption—be it labor unrest, equipment failure, or external factors like pandemics or political issues—may significantly affect output, revenues, and overall business continuity.
2. Stringent Customer Expectations:
Maintaining high-quality standards is critical. Any deviation may result in order cancellations, delays, penalties, or brand reputation risks—directly impacting customer relationships and financial outcomes.
3. Potential Conflict of Interest:
While internal controls are in place, some promoters and directors have interests in similar lines of business. This raises the risk of conflicts, especially with subsidiaries operating in overlapping domains.
Conclusion
This company represents a blend of legacy and innovation, backed by a strong manufacturing base, market leadership, and global reach. While operational risks exist, its strengths in engineering excellence, project flexibility, and sustained financial performance position it as a key player in India’s industrial construction and structural engineering space.
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