M & B Engineering has demonstrated robust growth in its Q2 FY26 financial results, showcasing resilience in the face of external challenges. The company's performance highlights its strong market position and operational efficiency, despite facing headwinds from international trade policies and currency fluctuations.

Financial Highlights

M & B Engineering achieved impressive financial results in the second quarter of fiscal year 2026:

The company's substantial revenue growth was driven by strong performances across both its Proflex roofing and Phenix pre-engineered building divisions.

Margin Pressures and Challenges

Despite the robust top-line growth, M & B Engineering faced some margin pressures during the quarter:

These factors collectively impacted the company's profitability for the quarter. However, M & B Engineering maintains its EBITDA guidance of 13% for the full fiscal year, indicating confidence in its ability to manage these challenges effectively.

Outlook and Order Book

The company's healthy order book of ₹930.56 crores suggests a strong pipeline of projects and potential for sustained growth in the coming quarters. This robust order book may provide a buffer against short-term market fluctuations and support the company's revenue targets.

Management's Perspective

While the management has not provided specific comments in the given data, the maintenance of the 13% EBITDA guidance for the full year, despite the current margin pressures, indicates a positive outlook. It suggests that the company may have strategies in place to mitigate the impact of US tariffs and foreign exchange volatility in the upcoming quarters.

M & B Engineering's ability to achieve significant revenue growth while navigating challenging external factors demonstrates its resilience and strong market position. Investors and market watchers will likely keep a close eye on how the company manages its margins and capitalizes on its healthy order book in the coming quarters.

M & B Engineering Limited (MBEL) has reported strong financial results for the second quarter of fiscal year 2025-26, showcasing robust revenue growth across its divisions.

Revenue Growth

The company's consolidated revenue for Q2 FY2025-26 saw a significant increase of 49% year-over-year. For the first half of FY2026 (H1), the growth was even more impressive at 57% compared to the same period in the previous year.

Divisional Performance

• The Proflex Division reported revenue growth of 57% in Q2 FY2026 and 45% in H1 FY2026.
• The Phenix (PEB) Division saw revenue increases of 47% in Q2 FY2026 and 61% in H1 FY2026.

Order Book

As of October 1, 2025, MBEL's unexecuted order book stood at a robust Rs. 930.56 crores, comprising:

Export Performance

The Phenix Division's export revenue showed significant growth:

However, the company faced some challenges in its export operations:

• Foreign exchange losses of approximately Rs. 2.15 crores
• Additional tariff costs of Rs. 2.85 crores on export orders

Expansion Plans

M & B Engineering is actively pursuing growth strategies:

• Orders placed for 3 mobile manufacturing units for the Proflex Division
• Progressing with a brownfield PEB expansion project at Sanand
  • Additional capacity: 20,000 TPA
  • Expected commissioning: Q1 FY2027

Market Implications

The strong revenue growth and robust order book indicate healthy demand for MBEL's products and services. The company's focus on export growth and capacity expansion suggests a positive outlook for future performance.

Investors and analysts will likely be interested in how the company manages its growth strategies while addressing challenges such as foreign exchange fluctuations and additional tariff costs.

As M & B Engineering continues to expand its operations and market presence, stakeholders will be keenly watching the company's ability to maintain its growth momentum and improve profitability in the coming quarters.