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Input cost volatility
View Risks →M & B Engineering Ltd — Q4 FY26
M&B Engineering delivered a strong FY26 with revenue of 1,260 cr (+27% YoY) and PAT of 93 cr (+20% YoY), driven by robust order inflows and execution.
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M&B Engineering delivered a strong FY26 with revenue of 1,260 cr (+27% YoY) and PAT of 93 cr (+20% 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 cr (+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.
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Read Transcript →Quarter Snapshot
Order Inflow (FY26)
1,539 cr
+28% YoY
Highest ever order inflow, reflecting strong demand for PEBs.
Export Revenue (FY26)
165.6 cr
+156% YoY
Sharp growth driven by US/Canada certifications and market presence.
Export Volume (FY26)
7,045 tons
+194% YoY
From 2,400 tons in FY25; target 10,000 tons in FY27.
Order Book (Mar 2026)
1,083 cr
+35% YoY
Provides strong revenue visibility; 80% Phoenix, 20% Proflex.
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Guidance and risk preview
Management expects topline growth of around 25% YoY, supported by strong order book and rising demand.
Steel prices surged 20% in Q4 and gas shortages impacted production; management cannot fully hedge against such volatility.
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