Rs 728 crore order book: Debt-free civil construction stock in green as the company announces impressive results for Q1FY25 & declares first interim dividend!

The company's shares have an ROE of 25 per cent and an ROCE of 30 per cent.

Man Infraconstruction Ltd, a Mumbai-based company listed on both NSE (MANINFRA) and BSE (533169), specializes in EPC (Engineering, Procurement, and Construction) and Real Estate Development. With a 50-year EPC history and strong execution in ports, residential, commercial, industrial, and road sectors across India, ManInfra also excels in Mumbai's real estate market, delivering high-quality residential projects on time. Its construction management expertise and resources make it a capable real estate developer.

MICL Delivers Strong Q1FY25 Performance

MICL has reported robust performance in the first quarter of the financial year 2025. The company achieved a sales value of Rs 691 crore, surpassing its annual sales of Rs 744 crore in FY24. This impressive feat is coupled with a remarkable increase in consolidated PBT margins from 21.7 per cent in Q1FY24 to 30.7 per cent in Q1FY25.

Key Highlights and Strategic Initiatives

MICL has made significant strides during the quarter. A key highlight includes acquiring an ultra-luxury residential project in BKC, spanning 5.0 lakh sq. ft. with a saleable carpet area of 1.5 lakh sq. ft. The project is slated for launch in FY25 with an estimated delivery timeline of three years. Additionally, the company has achieved a 50 per cent sales milestone for its 'Aaradhya OnePark' project in Ghatkopar East within just six months of launch.

Furthermore, MICL has secured an Occupation Certificate for the commercial tower, 'Gateway', in its Atmosphere O2 project, delivered ahead of schedule within 3.5 years. With a total revenue potential of over Rs 1,650 crore, this project is nearing complete sell-out. The company is also gearing up for the delivery of two more projects, 'Aaradhya Evoq' in Juhu and 'Tower F' of Atmosphere O2, in the second quarter of FY25. MICL's strong brand presence is evident in the 99 per cent inventory sell-out across its completed projects.

Financial Performance and Outlook

MICL's financial health is robust, with a total income of Rs 368.4 crores and a PBT of Rs. 113.2 crores in Q1FY25. The company's PAT stands at Rs 77.5 crore, and it maintains a net-debt-free position with a cash and bank balance of Rs 487 crores. MICL has invested over Rs 1,000 crore in its real estate projects and generated a cash flow from operations of Rs 321 crores during the quarter.

With a strong project pipeline and a solid financial foundation, MICL is well-positioned for future growth. The company's prestigious projects, such as Aaradhya Avaan in Tardeo and Aaradhya OnePark in Ghatkopar, have significant revenue potential. Upcoming projects in Goregaon, Marine Lines, BKC, Pali Hill, Vile Parle, and Dahisar further solidify MICL's position as a leading real estate developer in Mumbai.

Today, shares of the company gained 2.91 per cent to Rs 184 per share from its previous closing of Rs 178.80 per share. The stock’s 52-week high is Rs 249.40 and its 52-week low is Rs 132.75. As of June 2024, the company’s order book stands at Rs 728 crore. The company has a market cap of Rs 6,700 crore and has delivered good profit growth of 48.3 per cent CAGR over the last 5 years. The company's shares have an ROE of 25 per cent and an ROCE of 30 per cent. Investors should keep an eye on this Small-Cap stock.

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

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