Mega Nirman's revenue doubled to ₹147.94 cr on a new infra business
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.
— 2 earlier stories on Mega Nirman & Industries Ltd. →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 this 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.
Questions answered
- How did the new infrastructure business perform in its first quarter?
- It generated ₹12.98 crore in Q4 revenue and was already profitable at the segment level, posting a profit of ₹12.15 crore.
- What is driving the balance sheet expansion?
- The company raised ₹25.08 crore through preferential allotments in mid-2025 and now has ₹306.83 crore in capital work-in-progress, indicating heavy investment in ongoing projects.
- What does the scale of profit growth imply for sustainability?
- Net profit grew to ₹3.52 crore from ₹0.53 crore, a sixfold increase, but the absolute level remains low for a company with this revenue. The new segment's margin is high, but its first-quarter scale needs to be sustained.
Mega Nirman & Industries Ltd.
Latest quarter · Mar 2026
Strength & growth
Story so far
All notes on MNIL →- 25 May 2026 · 8:17 PM IST Mega Nirman's revenue doubled to ₹147.94 cr on a new infra business
- 53d ago Mega Nirman's infrastructure pivot is finally paying bills
- 53d ago Mega Nirman's revenue doubled as new infra arm kicks in