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MBL's Performance for the year ended 31st March 2020

Posted On: 2020-07-13 08:52:01

The total income of the Company during the Financial year 2019-20 was Rs 25,203 lakhs on standalone basis and Rs 31,557 lakhs on consolidation basis as against Rs 22,832 lakhs on standalone basis and Rs 24,099 lakhs on consolidation basis during FY 2018-19. The Company had profit (including exceptional items) of Rs 35,432 lakhs on standalone basis and Rs 26,521 lakhs on consolidation basis during FY 201 9-20 as against loss of Rs. 24,124 lakhs on standalone basis and loss of Rs 26,387 lakhs on consolidation basis during FY 2018-19. The Exceptional items include Rs 28,467 lakhs during F Y 2019-20 and (Rs. 28,371 lakhs) during F Y 2018-19 arising out of adjustment due to IBC, 2016.

"Despite the COVID-19 pandemic crisis, Company has been able to pay all its current employees and all workmen and execute on going public interest projects successfully. Since the approval of the Resolution Plan under IBC, 2016, the Company has taken necessary steps for its implementation. However, non- implementation of the Resolution Plan by the financial creditors has impacted the performance of the Company. The contribution of the Promoters and entities forming part of Promoter Group of Rs 6330 lakhs in the form of equity capital (Rs 4011.00 lakhs fresh induction and Rs 2319.00 lakhs out of existing dues) has helped the Company to substantially complete several public interest projects and smooth running of the operations of the Company since the approval of the resolution plan. The qualification / bidding capacity of the Company has substantially increased with completion/handing over of several public interest projects. The Company with enhanced bid capacity shall endeavor to win 4-5 large ticket size projects on implementation of the Resolution Plan by the financial creditors, which will bring back MBL's glory" said Mr D S Negi, CFO while addressing Company officials.

Shares of MBL Infrastructures Ltd was last trading in BSE at Rs.6.38 as compared to the previous close of Rs. 6.08. The total number of shares traded during the day was 17351 in over 31 trades.

The stock hit an intraday high of Rs. 6.38 and intraday low of 6.02. The net turnover during the day was Rs. 109848.

Source: Equity Bulls

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