Mega Nirman & Industries Ltd. (MNIL) — Tipsheet

Mega Nirman's revenue doubled to ₹147.94 cr on a new infra business

Tipsheet Editorial — Mon, 25 May 2026 20:17:36 GMT

The new infrastructure segment turned profitable in its first full quarter, contributing ₹12.98 cr in revenue. The balance sheet swelled with ₹306.83 cr in capital work-in-progress.

What’s new

Full-year revenue more than doubled to ₹147.94 crore; net profit rose from ₹0.53 crore to ₹3.52 crore.
New infrastructure segment contributed ₹12.98 crore in Q4 revenue and was already profitable.
Capital work-in-progress stood at ₹306.83 crore after ₹25.08 crore was raised via preferential allotments.

Why it matters

The headline growth is driven by a new business line that has already posted a segment profit of ₹12.15 crore on ₹12.98 crore revenue in its first quarter. That margin profile and the ₹306.83 crore in capital work-in-progress suggest the company is betting big on a project pipeline that is still being built.

What we’re watching

Whether the infrastructure revenue scales beyond the Q4 base of ₹12.98 cr.
How the ₹306.83 cr capital work-in-progress converts to recognised revenue.
The cash burn against the ₹25.08 cr raised via preferential allotment.

The full read

Mega Nirman & Industries' revenue more than doubled to ₹147.94 crore in FY26 from ₹69.67 crore. The move came from a new infrastructure segment that contributed ₹12.98 crore in Q4 and immediately turned profitable, with segment profit of ₹12.15 crore. That margin on a first-quarter revenue is striking. The balance sheet expanded dramatically: capital work-in-progress stands at ₹306.83 crore, following ₹25.08 crore in preferential allotments. The profit story, which saw net profit jump from ₹0.53 crore to ₹3.52 crore, hinges entirely on this new line holding its margin and scaling beyond a ₹12.98 crore quarterly base. The audit opinion was clean.

Primary source: BSE · NSE

Mega Nirman's infrastructure pivot is finally paying bills

Tipsheet Editorial — Mon, 25 May 2026 20:15:50 GMT

Full-year revenue more than doubled to ₹14.79 crore, with the new infrastructure business turning profitable in its first quarter of reporting.

What’s new

FY26 revenue more than doubled to ₹14.79 crore from ₹6.97 crore; net profit jumped to ₹35.23 lakh from ₹5.29 lakh.
New infrastructure segment reported ₹1.30 crore Q4 revenue and ₹1.21 crore segment profit.
Balance sheet grew after ₹25.08 crore preferential allotment; capital work-in-progress stands at ₹30.68 crore.

Why it matters

For a nano-cap that was essentially dormant, the pivot is producing real cash flow, not just promises. The infrastructure segment turned profitable in its first reported quarter, converting a portion of the ₹30.68 crore in capital work-in-progress into income. The audit opinion is clean, which removes one layer of concern for a company making such a large strategic shift.

What we’re watching

Whether the ₹30.68 crore in CWIP translates into larger, recurring revenue streams in FY27.
How quickly the infrastructure business can scale beyond the ₹1.30 crore Q4 run-rate.
The company's cash burn rate post the ₹25.08 crore fundraise.

The full read

Mega Nirman's financial results read like a corporate rebirth story. Full-year revenue more than doubled to ₹14.79 crore from ₹6.97 crore, with net profit climbing to ₹35.23 lakh from ₹5.29 lakh. The driving force is a new infrastructure division that contributed ₹1.30 crore in Q4 and turned a ₹1.21 crore segment profit in its first quarter of operations. This isn't an incremental improvement. The company raised ₹25.08 crore via preferential allotment and now holds ₹30.68 crore in capital work-in-progress. The pivot is moving from the balance sheet to the income statement. An unmodified audit opinion gives the numbers credibility, but the real test is ahead: whether that work-in-progress becomes a larger, recurring revenue base in FY27.

Primary source: BSE · NSE

Mega Nirman's revenue doubled as new infra arm kicks in

Tipsheet Editorial — Mon, 25 May 2026 20:09:35 GMT

The company raised ₹25 cr last year and is deploying it fast. Revenue more than doubled to ₹14.79 cr in FY26, with a new infrastructure segment already contributing in its first quarter.

What’s new

Full-year revenue doubled to ₹14.79 cr from ₹6.97 cr; net profit jumped to ₹35.23 lakh from ₹5.29 lakh.
A new infrastructure segment delivered ₹1.30 cr in revenue in its first quarter of operation (Q4 FY26).
Balance sheet expanded after ₹25.08 cr preferential allotment; capital work-in-progress stands at ₹30.68 cr.

Why it matters

The numbers confirm the company's pivot from a near-dormant entity into an infrastructure player. The fundraising has landed, the segment is generating revenue, and the capital is being deployed. The audit opinion is clean, which matters for a company that has just undergone a major transformation.

What we’re watching

Whether the infrastructure segment can maintain its revenue trajectory beyond the first quarter.
The timeline for converting the ₹30.68 cr work-in-progress into operational assets.
How the company plans to use any remaining funds from the ₹25 cr raise.

The full read

Mega Nirman has gone from a near-dormant shell to a revenue-generating infrastructure player in one year. FY26 revenue more than doubled to ₹14.79 crore, with net profit rising to ₹35.23 lakh from ₹5.29 lakh. The new infrastructure segment contributed ₹1.30 crore in Q4 alone. This growth is fueled by the ₹25.08 crore the company raised via preferential allotment last year, and the money is already being put to work: capital work-in-progress stands at ₹30.68 crore. The results carry an unmodified audit opinion, a clean bill of health for a company mid-transformation. The past is clear. The open question is whether the infrastructure arm can scale beyond its first quarter of contribution.

Primary source: BSE · NSE