M & B

M&B Engineering delivered a strong FY26 with revenue of 1,260 crCurrent reported value: 1,260 cr. No comparable prior figure is available in the source record. (+27Current reported value: 27. No comparable prior figure is available in the source record.% YoY) and PAT of 93 crCurrent reported value: 93 cr. No comparable prior figure is available in the source record. (+20Current reported value: 20. No comparable prior figure is available in the source record.% YoY), driven by robust order inflows and execution. However, Q4 margins were pressured by forex losses (₹6 cr), steel price surge (+20%), and export freight costs due to the Iran conflict. The order book stands at 1,083 crCurrent 1,083 cr. Reported change: +35% YoY. (+35% YoY), providing good visibility. Management guides for ~25% revenue growth in FY27, supported by capacity expansion (Sanand +20k MT, JR plant) and US tariff reduction (25% cut). Risks include continued input cost volatility, extended US order conversion cycles, and potential labor/monsoon disruptions in H1. Margin guidance remains withheld pending clarity on costs.