M & B Engineering Limited (MBEL.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-80.3%

₹51.21

vs ₹259.40 price

Levered DCF

-₹16.33

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021
P/E	13.35×	30.35×	51.21×	59.99×	102.03×	0×
P/B	1.88×	7.63×	10.03×	11.33×	14.1×	0×
P/S	0.98×	2.37×	2.94×	2.32×	2.97×	0×
EV / EBITDA	6.67×	19.12×	28.01×	29.46×	43.1×	1.06×
Gross margin	22.8%	31.6%	27.7%	24.1%	27.9%	29.2%
Operating margin	10.0%	11.9%	9.6%	6.9%	5.4%	15.7%
Net margin	7.4%	7.8%	5.7%	3.7%	2.4%	1.4%
Current ratio	1.92×	1.38×	1.36×	1.65×	1.4×	1.58×
Debt / equity	0.13×	0.62×	0.88×	0.83×	0.7×	0.9×
Interest coverage	7.26×	5.88×	3.32×	3.18×	1.96×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021
Return on equity	14.1%	25.1%	19.6%	18.2%	11.2%	4.7%
Return on invested capital	12.6%	17.6%	13.0%	13.2%	10.4%	15.1%
Return on assets	8.0%	9.1%	7.2%	5.9%	3.0%	1.4%
Free cash flow yield	-5.8%	-0.3%	-3.1%	0.5%	1.4%	0.0%
Earnings yield	7.5%	3.3%	2.0%	1.6%	0.8%	0.0%
Enterprise value	₹10.4B	₹25B	₹24.7B	₹21B	₹21B	₹290.2M
Net debt / EBITDA	-1.25×	1.23×	1.5×	0.73×	1.02×	1.06×
Cash conversion cycle (days)	120	123	129	72	65	101