MEP Infra. Developers Ltd
NSE: MEP · Road Assets–Toll, Annuity, Hybrid-Annuity · sector
₹0.63NSE close 2026-10-26
Key numbers
Market cap₹12 cr
Price₹0.63
52w high / low₹3 / ₹0
P/E–Sector median 11.1x
P/B–Sector median 1.6x
Book value₹-24.6
Dividend yield–
ROE–Sector median 4.4%
ROCE–Sector median 12.5%
OPM-1,434.9%Sector median 2.3%
Debt / equity–Sector median 0.43x
EV/EBITDA–Sector median 8.8x
Interest cover-18.2x
Current ratio0.19x
Sales growth 3y–Sector median +17.2%
Profit growth 3y–Sector median -27.1%
PEG–
Last 12 months to Mar 2024, Standalone. "Sector median" = middle value of 7 companies in Road Assets–Toll, Annuity, Hybrid-Annuity (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹13 cr vs borrowings ₹217 cr (FY24): borrowings are higher by ₹204 cr.
- Operating profit covered interest -18.2x in the last 12 months.
- 74.09% of the promoters' shares are pledged (15.6% of all shares).
- Promoter holding fell by 4.87 percentage points in a year, to 21.00% (2026-09-30).
- Net loss in 8 of the last 8 quarters.
- Revenue was higher than a year earlier in 2 of the last 4 quarters.
- No dividend in the last 3 financial years.
- Price ₹0.63 on 2026-10-26: -78.0% from the 52-week high, +26.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹6.17 · low ₹0.52
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 33 | 16 | 8 | 16 | 16 | 3 | 11 | 20 |
| EBITDA | 15 | -28 | -9 | 3 | -15 | -27 | -83 | -600 |
| OPM % | 44.6% | -179.3% | -113.4% | 19.4% | -90.2% | -936.4% | -757.8% | -2,927.4% |
| Other income | 3 | 1 | 3 | 5 | 3 | 1 | 0 | 6 |
| Net profit | -14 | -42 | -17 | -3 | -20 | -40 | -93 | -605 |
| EPS (₹) | -0.76 | -2.28 | 0.00 | -0.17 | -1.09 | -2.15 | -5.02 | -32.49 |
| Revenue YoY | -50.4% | -81.6% | +41.8% | +29.0% | ||||
| Profit YoY | – | – | – | – |
Standalone figures where filed. Latest quarter Mar 2024.
Profit & loss (yearly)
| ₹ cr | FY21 | FY22 | FY24 | TTM |
|---|---|---|---|---|
| Revenue | 367 | 194 | 50 | 50 |
| EBITDA | -144 | 52 | -724 | -724 |
| Net profit | -222 | -46 | -757 | -757 |
| EPS (₹) | -12.11 | -2.48 | -40.67 | -40.75 |
| Revenue growth | -47.1% | -74.0% | -29.9% | |
| Profit growth | – | – | – | |
| Dividend / share (₹) | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | – | – | -29.9% |
| Net profit | – | – | – |
| EPS | – | – | – |
| Share price | – | -55.2% (2y) | -72.5% |
Balance sheet
| ₹ cr | FY22 | FY24 |
|---|---|---|
| Shareholders' equity | – | -457 |
| Borrowings | – | 217 |
| Cash & equivalents | – | 13 |
| Total assets | – | 899 |
| Fixed assets | – | 8 |
| Capital work in progress | – | 0 |
| Investments | – | 168 |
| Receivables | – | 4 |
| Inventory | – | 2 |
| Payables | – | 769 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY24 |
|---|---|---|
| Cash from operations | -152 | 44 |
| Cash from investing | 248 | 3 |
| Cash from financing | -97 | -50 |
| Capex | 1 | 0 |
| Free cash flow | -153 | 44 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY24 |
|---|---|---|
| ROE % | – | 165.6% |
| ROCE % | – | 298.4% |
| Debtor days | – | 28 |
| Inventory days | – | 11 |
| Payable days | – | 5,564 |
| Cash conversion cycle (days) | – | -5,525 |
| Working capital days | – | -7,622 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 21.00% |
| FIIs | 0.12% |
| DIIs | 4.41% |
| of which Mutual funds | 4.41% |
| of which Insurance | 0.00% |
| Government | 0.00% |
| Public (non-institutions) | 74.48% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 28.23% | 28.23% | 26.76% | 25.87% | 25.95% | 25.68% | 23.36% | 21.00% |
| Promoter group | % |
|---|---|
| A J Tolls Private Limited | 7.86% |
| Ideal Toll and Infrastructure Private Limited | 6.08% |
| Sudha Dattatray Mhaiskar | 3.88% |
| Anuya Jayant Mhaiskar | 3.14% |
| Vidyalaxmi Vijay Kshirsagar | 0.03% |
| Public holders above 1% | % |
|---|---|
| Hdfc Trustee Company Ltd. A/C Hdfc Balanced Advantage Fund | 4.41% |
| Vani Agencies Private Limited | 2.66% |
| Aparna Chand | 2.58% |
| Tarun Jain Huf | 1.64% |
| Rohitasava Chand | 1.51% |
| Jagat Navratna Lodha | 1.36% |
| Manju Parekh | 1.36% |
33,313 shareholders. Pledged: 74.09% of promoter shares.
Peers in Road Assets–Toll, Annuity, Hybrid-Annuity
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| BFUTILITIE | ₹1,574 cr | – | 9.4x | -5.6% | -5.1% | -61.5% | +1.5% | – |
| HILINFRA | ₹441 cr | 16.6x | 1.9x | 11.2% | 12.5% | 2.3% | – | – |
| INNOVISION | ₹379 cr | 11.1x | 1.3x | 12.6% | 14.1% | 5.6% | – | – |
| ATLANTAA | ₹232 cr | – | 1.1x | -2.4% | 1.2% | 41.3% | +12.7% | – |
| NOIDATOLL | ₹64 cr | 2.2x | – | – | 94.0% | 28.4% | +21.8% | – |
| GAYAHWS | ₹39 cr | – | – | – | – | -3.8% | +24.0% | – |
| MEP | ₹12 cr | – | – | – | – | -1,434.9% | – | – |
All 7 companies in Road Assets–Toll, Annuity, Hybrid-Annuity →
Business segments (FY24)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Toll Collection O M | ₹50 cr | 100.0% | ₹-185 cr | -367.0% |
| Construction | ₹0 cr | – | ₹-486 cr | – |
| Less : Interest | ₹0 cr | – | ₹-35 cr | – |
| Other Unallocable net off Expenses Income | ₹0 cr | – | ₹8 cr | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2023-09-22 | Other | Annual General Meeting |
| 2022-09-22 | Other | Annual General Meeting |
| 2021-09-22 | Other | Annual General Meeting |
| 2020-10-14 | Other | Annual General Meeting |
| 2019-08-29 | Dividend | Annual General Meeting/Dividend Rs 0.30 |
| 2018-07-25 | Dividend | Annual General Meeting/Dividend- Re0.30 Per Share |
| 2017-07-19 | Dividend | Annual General Meeting/Dividend - Re 0.15 Per Share |
| 2017-02-22 | Dividend | Interim Dividend Re 0.10 Per Share |
| 2016-07-28 | Dividend | Annual General Meeting/Dividend - Re 0.10/- Per Share (Book Closure Dates Revised) |
| 2015-11-19 | Dividend | Interim Dividend - Re 0.10/- Per Share |
| 2015-09-16 | Other | Annual General Meeting |
Documents
- Annual report FY23
- Annual report FY22
- Annual report FY21
- Annual report FY20
- Annual report FY19
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Services |
| Industry | Road Assets–Toll, Annuity, Hybrid-Annuity |
| Sub-industry | Road Assets–Toll, Annuity, Hybrid-Annuity |
| Symbol | MEP |
| BSE code | 539126 |
| ISIN | INE776I01010 |
| Face value | ₹10.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.