M&B Engineering Reports Strong Q3FY26 Performance with 43.8% PAT Growth
M&B Engineering reported robust Q3FY26 performance with revenue growing 7.1% to Rs 351.51 crore and PAT surging 43.8% to Rs 25.49 crore. The nine-month period showed exceptional growth with 32.8% revenue increase to Rs 896.02 crore and strong order inflows of Rs 1,152 crore, including the company's largest export order worth Rs 212 crore from the United States.

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M&B Engineering Limited has delivered robust financial performance in Q3FY26, reporting significant growth across key metrics while maintaining strong order inflows and expanding its global footprint. The company filed its investor presentation for Q3FY26 and nine months ended December 2025 under Regulation 30, showcasing sustained momentum in both domestic and international markets.
Strong Financial Performance in Q3FY26
The company demonstrated impressive growth in the third quarter, with revenue from operations reaching Rs 351.51 crore compared to Rs 328.12 crore in Q3FY25, marking a 7.1% year-on-year increase. Profitability showed even stronger momentum with Profit After Tax surging 43.8% to Rs 25.49 crore from Rs 17.73 crore in the corresponding quarter last year.
| Financial Metric: | Q3FY26 | Q3FY25 | YoY Growth |
|---|---|---|---|
| Revenue from Operations: | Rs 351.51 crore | Rs 328.12 crore | 7.1% |
| EBITDA: | Rs 43.54 crore | Rs 33.60 crore | 29.6% |
| EBITDA Margin: | 12.4% | 10.2% | +220 bps |
| Profit After Tax: | Rs 25.49 crore | Rs 17.73 crore | 43.8% |
| PAT Margin: | 7.3% | 5.4% | +190 bps |
Exceptional Nine-Month Performance
The nine-month period ended December 2025 showcased even more remarkable growth, with revenue from operations climbing 32.8% to Rs 896.02 crore from Rs 674.91 crore in 9MFY25. EBITDA expanded 25.6% to Rs 114.04 crore, while maintaining a healthy margin of 12.7%. Profit After Tax for the nine-month period grew 35.2% to Rs 65.64 crore.
| Nine-Month Metric: | 9MFY26 | 9MFY25 | YoY Growth |
|---|---|---|---|
| Revenue from Operations: | Rs 896.02 crore | Rs 674.91 crore | 32.8% |
| EBITDA: | Rs 114.04 crore | Rs 90.79 crore | 25.6% |
| Profit Before Tax: | Rs 88.96 crore | Rs 67.36 crore | 32.1% |
| Profit After Tax: | Rs 65.64 crore | Rs 48.53 crore | 35.2% |
Robust Order Inflows and Market Expansion
M&B Engineering secured substantial order inflows during Q3FY26, amounting to Rs 480 crore, representing an impressive 86% year-on-year increase. The nine-month order inflow reached Rs 1,152 crore, showing 36% growth compared to 9MFY25. A significant milestone was achieved with the company securing its single largest export order valued at Rs 212 crore from the United States, reinforcing its growing international competitiveness.
The company's order book as of December 31, 2025, stood at Rs 1,059 crore, with Phenix division contributing 77% (Rs 818 crore) and Proflex division accounting for 23% (Rs 240 crore). Within the Phenix division, export orders constituted Rs 316 crore, highlighting the company's expanding global presence.
IPO Proceeds Utilization Update
The company continues to deploy its IPO proceeds systematically, having utilized Rs 27.68 crore during Q3FY26. Cumulative utilization reached Rs 130.31 crore as of December 31, 2025, representing 50.3% of the net proceeds of Rs 259.32 crore. The unutilized amount of Rs 129.01 crore remains invested in fixed deposits across multiple banks, earning returns ranging from 4.75% to 6.45%.
| IPO Utilization: | Allocated (Rs Cr) | Utilized (Rs Cr) | Utilization % | Balance (Rs Cr) |
|---|---|---|---|---|
| Prepayment of Term Loan: | 58.75 | 58.75 | 100% | - |
| Capital Expenditure: | 135.78 | 7.38 | 5.4% | 128.40 |
| General Corporate Purpose: | 64.79 | 64.18 | 99% | 0.61 |
| Total: | 259.32 | 130.31 | 50.3% | 129.01 |
Management Guidance and Outlook
The management expressed confidence in achieving FY2026 guidance, with topline expected to be around Rs 1,250 crore and EBITDA likely to be around 12.75%. During 9MFY26, the company incurred capital expenditure of Rs 12 crore, primarily directed towards capacity augmentation and operational strengthening, aligned with medium-term growth plans. The company operates across 23 countries and continues to benefit from emerging opportunities in renewables, cold storage, warehousing, railways, and agriculture sectors.
Historical Stock Returns for M & B Engineering
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.80% | -17.78% | -1.38% | -36.02% | -28.53% | -28.53% |


































