Rs 823 crore order book and promoters, FIIs & DIIs increase stake: Small-cap civil construction reports positive results & turns net cash positive; complete details inside!

From Rs 90.25 (52-week low) to Rs 203 per share (intraday high), the stock gave multibagger returns of over 100 per cent.

Man Infraconstruction Limited (MICL) is a full-service civil construction company with expertise across various sectors including ports, residences, commercial buildings, and roads. They handle all aspects of projects from engineering and procurement (EPC) to construction and have experience developing both residential communities and commercial spaces. MICL's business model offers diversified income streams through both real estate projects (with a current sales visibility of around Rs 15,000 crore for a 6 million square feet portfolio) and EPC services, where they typically see margins ranging from 10 to 20 per cent. To minimize their investment, they focus on joint ventures and development management (DM) projects, allowing them to leverage partner capital.

According to standalone Quarterly Results, the company reported net sales of Rs 121.40 crore in Q4FY24 and net profit increased by 123.1 per cent to Rs 66.53 crore in Q4FY24 over Q4FY23. In its standalone annual results, the company reported net sales of Rs 708.33 crore in FY24 and net profit increased by 17.8 per cent to Rs 195.46 crore in FY24 over FY23.

According to consolidated quarterly results, the company reported net sales of Rs 296.74 crore and a net profit of Rs 57.98 crore in Q4FY24 compared to net sales of Rs 680.27 crore and a net profit of Rs 88.83 crore in Q4FY23. In its consolidated annual results, the company reported net sales of Rs 1,263.45 crore and a net profit of Rs 284.19 crore in FY24 compared to net sales of Rs 1,890.35 crore and a net profit of Rs 284.12 crore in FY23. As of March 31, 2023, the company’s order book stands at Rs 823 crore. The company turns net cash positive on Consolidated financials as of March 2024.

The company has a market cap of Rs 7,450 crore and has delivered good profit growth of 49.2 per cent CAGR over the last 5 years. The shares of the company have an ROE of 30 per cent and an ROCE of 34 per cent. The promoters of the company increased their stake to 67.31 per cent, FIIs increased their stake to 3.55 per cent and DIIs increased their stake to 2.10 per cent in March 2024 compared to 67.12 per cent, 0.44 per cent and 1.62 per cent, respectively, in March 2023.

From Rs 90.25 (52-week low) to Rs 203 per share (intraday high), the stock gave multibagger returns of over 100 per cent. Investors should keep an eye on this Small-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.