M & B Engineering Limited · NSE:MBEL
M & B Engineering — Q2 FY27 Earnings Presentation
44 slides from M & B Engineering's earnings presentation, Nov 5, 2026
Slide 1: Exchange filing cover letter
M&B Engineering Ltd. Registered Office: ‘MB House', 51, Chandroday Society, Stadium Road, Naranpura, Ahmedabad - 380 014, Gujarat, India CIN: L45200GJ1981PLC004437 I T: +91 79 2640 5563/ 2646 1314 | E: info@mbphenix.com / info@mbproflex.com 5th November, 2026 To, To National Stock Exchange of India
Slide 2: Investor Presentation Q2FY27 & H1FY27
Investor Presentation Q2FY27 & H1FY27 05 November 2026
Slide 3: Safe Harbor
Safe Harbor This presentation may contain certain forward-looking statements relating to M&B Engineering Limited (“M&B”, or “Company””) and its future business, development and economic performance. These statements include descriptions regarding the intent, belief or current expectations of the C
Slide 4: Table of Content
Table of Content 1 M&B – In a Snapshot 2 Performance Highlights – Q2FY27 & H1FY27 3 Company Overview 4 Growth Strategies 5 Annexure 3
Slide 5: M&B – In a Snapshot
M&B – In a Snapshot
Slide 6: M&B – One of India's leading Pre-Engineered Buildings
M&B – One of India’s leading Pre-Engineered Buildings (PEB^) Redefining India’s construction landscape through PEBs Integrated manufacturing partner offering design-led manufacturing solutions through strategically located facilities at Sanand (Gujarat) and Cheyyar (Tamil Nadu) for Pre-Engineered
Slide 7: Performance Highlights – Q2FY27 & H1FY27
Performance Highlights – Q2FY27 & H1FY27
Slide 8: Q2 / H1FY27 – Message from the Management
Q2 / H1FY27 – Message from the Management Achieved the highest-ever quarterly revenue earned in any quarter and highest ever half-yearly revenue earned during first half, with consolidated revenue growing 25.4% YoY to ₹385 crore in Q2FY27 and 24.1% YoY to ₹676 crore in H1FY27, supported by healthy
Slide 9: Building Excellence. Earning Recognition.
Building Excellence. Earning Recognition. Phenix Construction Technologies’ SMCC Suzuki D-Line Project awarded THE CONSTRUCTION PROJECT OF THE YEAR A PROUD MILESTONE Selected through a jury-based evaluation at the Construction Global Awards 2026. 8
Slide 10: Q2FY27 & H1FY27 – Financial Performance (Consolidated)
Q2FY27 & H1FY27 – Financial Performance (Consolidated) RS. CRORES Q2FY27 Revenue from Operations EBITDA* & EBITDA % PAT & PAT % 25.4% 385 17.6% 43 37 32.8% 307 29 22 12.0% 11.3% 7.2% 7.7% Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 H1FY27 Revenue from Operations EBITDA* & EBITDA % PAT & PAT % 79 24.1%
Slide 11: Q2FY27 & H1FY27 – Order Inflow
Q2FY27 & H1FY27 – Order Inflow M&B’s Consolidated Order Inflow Order Inflow (Rs.) Quarterly Order Inflow (Rs.) 1,201 Cr 1,539 Cr 703 Cr 395 Cr 262 Cr 441 Cr 10% 12% 10% 22% 13% 14% 61% 59% 68% 62% 66% 59% 27% 31% 22% 19% 21% 24% FY25 FY26 H1FY27 Q2FY26 Q1FY27 Q2FY27 Profllex Phenix - Domestic Phenix
Slide 12: Q2 / H1FY27 – Orders on Hand
Q2 / H1FY27 – Orders on Hand 4Y CAGR: 24.1% (FY22-FY26) Q2 / H1FY27 Orders on Hand: Rs.1,109 Cr 461 Cr 428 Cr 591 Cr 803 Cr 1,083 Cr 1,053 Cr 1,109 Cr 7% 8% 13% 26% 26% 25% 75% 70% 66% 63% 55% 53% 54% 23% 25% 26% 24% 21% 21% 20% FY22 FY23 FY24 FY25 FY26 Q1FY27 Q2 / H1FY27 Profllex Phenix - Domestic
Slide 13: H1FY27 – Sector wise Revenue & Orders on Hand Analysis
H1FY27 – Sector wise Revenue & Orders on Hand Analysis Phenix Sector Wise Analysis Proflex Sector Wise Analysis 1% 1% 7% 8% 23% 19% 14% 13% Q2FY27 H1FY27 Revenue Revenue Q2FY27 H1FY27 49% Rs. 298 Cr Rs. 512 Cr Revenue 56% Revenue Rs. 87 Cr Rs. 163 Cr 76% 80% 23% 30% 11% 35% 31% H1FY27 Orders 22% H1F
Slide 14: Q2FY27 & H1FY27 - Consolidated P&L Statement
Q2FY27 & H1FY27 - Consolidated P&L Statement Particulars (Rs Cr) Q2FY27 Q2FY26 YoY H1FY27 H1FY26 YoY Sales & Services 384.67 306.85 25.4% 675.77 544.51 24.1% Operative Other Income 0.50 1.41 3.09 5.06 Total Revenue from Operations 385.17 308.26 25.0% 678.86 549.57 23.5% Non Operative Other Income 2.
Slide 15: Utilization of IPO Proceeds as on Sep 30, 2026
Utilization of IPO Proceeds as on Sep 30, 2026 Net Amount Received Amount % Amount Pending to be Utilized Objects of Issue (A) Utilised (B) Utilised (C) (D = A - B) Prepayment of Term Loan 58.75 58.75 100.00% - Capital Expenditure 135.78 32.34 23.82% 103.44 General Corporate Purpose 64.79 64.18 99.0
Slide 16: Certain Key Parameters and Break up
Certain Key Parameters and Break up Particulars (Rs Cr) Q2FY27 Q2FY26 H1FY27 H1FY26 Operating Other Income Interest Income From Bank FDs 1.07 0.70 1.94 1.74 Export Incentives & Other Operative Income 0.54 0.70 1.14 3.32 Exchange Fluctuation (Net) (-) 1.12 - - Total – Other Operating Income 0.50 1.40
Slide 17: Working Capital Cycle
Working Capital Cycle Particulars (Rs Cr) H-1 FY 27 H - 1 FY 26 Inventories 358.31 318.67 No of Days 96 106 Receivables -Amount 246.71 227.23 No of Days 66 75 Trade Creditors including Buyer's Credit - Amount 243.73 212.04 No of Days 66 70 Advance From Customers 129.71 95.87 No of Days 35 32 Net Wor
Slide 18: Sustained track record of financial performance
Sustained track record of financial performance Revenue from Operations (INR Cr) EBITDA (INR Cr) & EBITDA Margin (%) PAT (INR Cr) & PAT Margin (%) 16% 7.4% 32% 54% 4Y CAGR 4Y CAGR 12.5% 4Y CAGR 7.8% 13.6% 11.7% 5.7% 8.5% 3.7% 7.6% 2.4% 688 880 795 989 1,260 53 75 93 135 157 16 33 46 77 93 FY22 FY23
Slide 19: Company Overview
M ENGINEERING ———— = —— Company Overview
Slide 20: A homegrown, engineering-led construction company with legacy dating to 1951
A homegrown, indigenous, engineering-led construction company with a legacy dating back to 1951 18 Years Over 1,712 Over 7,30,000 MT 24 Years Over 8,974 Over 2.07 Cr Sq. m. of operations Projects Installed till date of operations Projects Installed till date Milestones 1981 2002 2008 2017 2024 2025
Slide 21: Phenix and Proflex: PEBs and self-supported roofing
PHENIX PROFLEX Installed capacity of 2.1 Mn sq. m. p.a. for One of India’s leading Pre-Engineered Buildings players Self-Supported Roofing solutions (as on date) Comprehensive solutions for PEBs and 1 complex structural steel components 2 Self supported steel roofing solutions • Pre-Engineered Build
Slide 22: Phenix Division
M:8 . ENGINEERING cucu Phenix Division
Slide 23: In-house design & engineering capabilities
In-house design & engineering capabilities Conceptualize and manufacture complex, custom-designed structures that meet specific client requirements with precision Dedicated design and engineering in-house team of 98 employees who create 3D models of PEBs and structural Focus on upgrading process
Slide 24: Global and Indian PEB market outlook
With a projected CAGR of ~10%, the global PEB market is expected to reach USD 32–35 billion by 2029, while the Indian market, growing slightly faster, is expected to reach INR 330–345 billion by 2030 Large, organised players grow at faster clip M&B Engineering registered a 3Y-CAGR of 45% in EBIDTA a
Slide 25: Marquee Projects executed under Phenix
Marquee Projects executed under Phenix Over 62,000 sq. m. PEB installation for Over 285,000 sq. m. PEB installation for Over 125,000 sq. m. PEB installation for Over 18,000 sq. m. PEB installation for a the automobile manufacturing plant of a a textile plant for a major textile a multinational home
Slide 26: Strategically located manufacturing facilities
Strategically located manufacturing facilities Other Certifications Sanand Facility (2008) 72,000** MTPA Installed Capacity* Only PEB manufacturing Manufacturing Facility facility in India with a Design and certification from AISC & engineering offices CWB Cheyyar Facility (2024) 31,800 MTPA Install
Slide 27: Proflex Division
- —_— MS proflex ENGINEERING
Slide 28: Proflex Division operates a fleet of 17 mobile manufacturing units
2 Proflex Division operates a fleet of 17 mobile manufacturing units M&B Engineering is the largest player in terms of revenue for the manufacturing and installation of self-supported steel roofing solutions in India Allows M&B to address the customers in a wide geographic expanse 21 Lakhs Sq. m. 17
Slide 29: Key Growth Drivers
With a projected CAGR of 3-4%, the global self-supported roofing market is expected to 2 reach USD 0.87-0.92 billion by 2029, while the Indian market, growing slightly faster, is 2 expected to reach INR 3.8–4.2 billion by 2030 M&B Engineering Ltd is the largest player in terms of revenue for Global
Slide 30: Marquee Projects executed under Proflex
2 Marquee Projects executed under Proflex Self-supported Self-supported roofing structure for roofing structure for a major Indian milk a major Indian sugar co-operative society company at Rajpura, at Anand Gujarat Uttar Pradesh Over 300 projects in the railway sector with cumulative installation of
Slide 31: Business footprint spans across geographies
Business footprint spans across geographies Manufactured products and supplied services to domestic customers and overseas customers including from US, Canada, Brazil, South Africa, Qatar, Sri Lanka, Morocco, Nigeria, Kenya and Seychelles Served customers in Domestic presence is anchored by Marketin
Slide 32: Relationships with customers across a diverse set of industries
Relationships with customers across a diverse set of industries 2,000+ customer groups served pan-India; repeat customers contributed 54.07% of FY26 consolidated operating revenue. Relationship of >15 years with some customers Tata Advanced Systems Limited History of high customer retention Revenue
Slide 33: Experienced promoters and professional management team (1/2)
Experienced and dedicated promoters and professional management team with domain knowledge (1/2) Hemant Ishwarlal Modi Chirag Hasmukhbhai Patel Malav Girishbhai Patel Vipinbhai Kantilal Patel Non-Executive Chairman and Independent Joint Managing Director Joint Managing Director Non-Executive Directo
Slide 34: Experienced promoters and professional management team (2/2)
Experienced and dedicated promoters and professional management team with domain knowledge (2/2) Sanjay Shaileshbhai Majmudar Birju Maheshbhai Patel Udayan Dileep Choksi Subir Kumar Das Non-Executive and Non-Independent Independent Director Independent Director Independent Director Director CA wit
Slide 35: Future Growth Drivers
M ENGINEERING Future Growth Drivers
Slide 36: Summary of key growth drivers for the divisions
Summary of key growth drivers for the divisions Industrial capex are expected to reach – INR 7.1 Tn by Fiscal 2030, marking an average annual increase of 1.6x Low penetration of PEB in the building sector Key factors contributing to the growth of Growth in industrial warehousing demand Inc
Slide 37: Annexure
M:3 ENGINEERING Annexure
Slide 38: Profit & Loss Statement
Profit & Loss Statement Particulars (INR Cr)` FY22 FY23 FY24 FY25 FY26 Revenue From Operations 688.23 880.47 795.06 988.55 1,259.72 Cost of goods Sold 495.25 667.98 573.40 675.22 845.92 Employee cost 70.56 75.35 80.91 98.94 110.95 Other expenses 80.58 70.71 61.13 88.02 161.33 EBITDA 52.53 74.96 92.8
Slide 39: Balance Sheet Statement
Balance Sheet Statement Assets (INR Cr) FY22 FY23 FY24 FY25 FY26 Equities & Liabilities (INR Cr) FY22 FY23 FY24 FY25 FY26 Non-current assets 85.49 90.57 154.15 187.80 221.87 Tangible Net worth 145.10 180.51 233.03 306.53 657.10 Property, plant and equipment 64.93 74.33 75.53 168.63 171.79 Equity sha
Slide 40: Cash Flow Statement – (Adjusted)
Cash Flow Statement – (Adjusted*) Particulars (INR Cr) FY22 FY23 FY24 FY25 FY26* Profit before tax 23.49 45.56 60.88 102.24 123.56 Other Comprehensive Income -0.35 -0.37 -1.10 -1.07 0.59 Operating Profit before Working Capital Changes 46.88 70.40 88.25 125.06 142.79 Changes in Working Capital -1.89
Slide 41: Phenix | Social Media Highlights
Building Brand Presence Through Consistent Digital Engagement Phenix | Social Media Highlights 40
Slide 42: Proflex | Social Media Highlights
Building Brand Presence Through Consistent Digital Engagement Proflex | Social Media Highlights 41
Slide 43: Post Result Earnings Conference Call Details
Post Result Earnings Conference Call Details Conference Call Details Q2FY27 & H1FY27 Earnings Conference Call DA T E & T IME P RIMA RY D IA L-IN NUMBER Thursday, November 05, 2026 +91 22 6280 1107 16:30 hrs · IST +91 22 7115 8008 P R E-R EG IST R A T IO N Register in advance to join the call instant
Slide 44: Thank You
Thank You M&B ENGINEERING LTD. M & B Engineering Ltd (ISIN: INE08N601015; NSE: MBEL; BSE: 544470) MB House, 51, Chandroday Society, Stadium Road, Naranpura, Ahmedabad - 380014, Gujarat, India. Keyur Shah & Palak Parekh Chief Financial Officer |Compliance Officer E: cfo@mbel.in | compliance@mbel.in A