MEP

MEP Infrastructure Developers Limited

Road-assets operator under Corporate Insolvency Resolution Process

Services›Services›Transport Infrastructure›Road Assets–Toll, Annuity, Hybrid-Annuity

mepinfra.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹0.68
Market cap
13 Cr
Latest results
Dec 2023 — none since
Operating margin (FY23)
-83.7%
OCF / EBITDA (3Y)
142.2%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

MEP Infrastructure Developers earns almost all of its revenue from toll collection and operation and maintenance of roads, with a small construction business, and has been in a court-ordered insolvency resolution process since an order of 28 March 2024.

Company snapshot

7thBy market cap

Ranked among 7 companies in Road Assets–Toll, Annuity, Hybrid-Annuity.

Segment mix

Reportable segments as of 2024-03-31 (Standalone). Revenue share = segment revenue ÷ total revenue.

Largest segment: 100.0% of revenue

SegmentRevenue shareRevenuePBTAssets
Construction—0 Cr-422 Cr113 Cr
Less : Interest—0 Cr-8 Cr0 Cr
Other Unallocable net off Expenses Income—0 Cr6 Cr0 Cr
Toll Collection O M
100.0%
20 Cr-179 Cr786 Cr

What we see

Positives
  • ✓142% of operating profit came in as cash over the last three years — profits are backed by real cash.
Concerns
  • ✗Net margin is negative — the company is spending more than it earns right now.
1 more signal from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricMar 2021Jun 2021Sept 2021Dec 2021Mar 2022Jun 2022Sept 2022Dec 2022Mar 2023Jun 2023Sept 2023Dec 2023
Sales282 Cr277 Cr217 Cr240 Cr234 Cr150 Cr81 Cr2 Cr11 Cr6 Cr13 Cr19 Cr
Operating expenses (approx.)155 Cr134 Cr101 Cr91 Cr138 Cr149 Cr93 Cr48 Cr97 Cr51 Cr44 Cr41 Cr
EBITDA127 Cr143 Cr116 Cr149 Cr96 Cr2 Cr-12 Cr-45 Cr-86 Cr-45 Cr-30 Cr-22 Cr
OPM %45.0%51.5%53.6%62.2%40.9%1.1%-14.8%-1821.3%-802.4%-704.9%-224.9%-117.4%
Other income5 Cr18 Cr7 Cr3 Cr6 Cr4 Cr3 Cr6 Cr12 Cr3 Cr2 Cr0.26 Cr
Interest82 Cr72 Cr75 Cr69 Cr74 Cr26 Cr19 Cr15 Cr6 Cr14 Cr24 Cr16 Cr
Depreciation49 Cr65 Cr60 Cr63 Cr69 Cr40 Cr19 Cr2 Cr2 Cr2 Cr0.71 Cr0.73 Cr
Profit before tax-79 Cr19 Cr-41 Cr0.63 Cr-151 Cr-62 Cr-44 Cr-53 Cr-67 Cr-41 Cr-46 Cr-95 Cr
Tax %-8.4%85.7%-28.8%2123.9%-7.5%-3.8%-3.3%3.1%5.5%-0.4%-12.3%-21.7%
Net profit-85 Cr3 Cr-53 Cr-13 Cr-163 Cr-64 Cr-45 Cr-52 Cr-63 Cr-42 Cr-52 Cr-116 Cr
EPS (₹)₹-4.65₹0.15₹-2.88₹-0.69₹-8.86₹-3.49₹-2.47₹-2.82₹-3.45₹-2.27₹-2.81₹-6.29

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1,729 Cr2,322 Cr2,815 Cr2,056 Cr1,123 Cr967 Cr245 CrSign in free for the trailing twelve months
Operating expenses (approx.)440 Cr1,449 Cr1,855 Cr1,699 Cr659 Cr464 Cr386 CrSign in free for the trailing twelve months
EBITDA1,289 Cr873 Cr960 Cr358 Cr465 Cr504 Cr-142 CrSign in free for the trailing twelve months
OPM %74.5%37.6%34.1%17.4%41.4%52.1%-57.9%Sign in free for the trailing twelve months
Other income86 Cr120 Cr122 Cr140 Cr166 Cr35 Cr25 CrSign in free for the trailing twelve months
Interest493 Cr470 Cr464 Cr414 Cr343 Cr289 Cr67 CrSign in free for the trailing twelve months
Depreciation868 Cr419 Cr494 Cr392 Cr253 Cr256 Cr63 CrSign in free for the trailing twelve months
Profit before tax172 Cr109 Cr95 Cr-43 Cr-51 Cr-172 Cr-226 CrSign in free for the trailing twelve months
Tax %36.7%35.1%41.1%-99.1%-50.4%-30.7%0.7%Sign in free for the trailing twelve months
Net profit109 Cr71 Cr56 Cr-86 Cr-77 Cr-225 Cr-225 CrSign in free for the trailing twelve months
EPS (₹)₹6.70₹4.37₹3.05₹-4.70₹-4.19₹-12.29₹-12.24Sign in free for the trailing twelve months
Dividend payout %———————Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Equity capital163 Cr163 Cr183 Cr183 Cr183 Cr183 Cr183 Cr
Reserves-170 Cr-103 Cr82 Cr11 Cr-79 Cr-298 Cr-650 Cr
Borrowings2,716 Cr2,645 Cr2,229 Cr1,833 Cr2,285 Cr2,086 Cr414 Cr
Other liabilities2,188 Cr2,234 Cr2,713 Cr2,872 Cr2,363 Cr1,776 Cr3,260 Cr
Total liabilities4,896 Cr4,939 Cr5,207 Cr4,899 Cr4,765 Cr3,756 Cr3,207 Cr
Fixed assets (net)51 Cr93 Cr88 Cr81 Cr56 Cr32 Cr14 Cr
CWIP28 Cr27 Cr26 Cr———0 Cr
Investments166 Cr240 Cr280 Cr332 Cr317 Cr85 Cr65 Cr
Loans & advances——————76 Cr
Inventories——11 Cr14 Cr14 Cr5 Cr4 Cr
Trade receivables35 Cr86 Cr82 Cr40 Cr68 Cr2 Cr21 Cr
Cash & bank35 Cr35 Cr37 Cr30 Cr9 Cr13 Cr4 Cr
Other assets4,580 Cr4,459 Cr4,683 Cr4,402 Cr4,301 Cr3,618 Cr3,023 Cr
Total assets4,896 Cr4,939 Cr5,207 Cr4,899 Cr4,765 Cr3,756 Cr3,207 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from operating activity463 Cr710 Cr503 Cr767 Cr491 Cr306 Cr378 Cr
Cash from investing-57 Cr-373 Cr-19 Cr-31 Cr-16 Cr113 Cr-16 Cr
Cash from financing-426 Cr-338 Cr-482 Cr-743 Cr-497 Cr-415 Cr-361 Cr
Net cash flow-20 Cr-0.78 Cr2 Cr-6 Cr-22 Cr4 Cr0.92 Cr
Free cash flow (OCF − Capex)454 Cr319 Cr485 Cr744 Cr462 Cr283 Cr371 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
ROCE %—21.4%22.4%18.3%12.2%——
ROE %—118.6%21.2%-39.7%-65.3%——
Debtor days71411722131
Inventory days——1031066
Days payable17419788828576315181986
Cash conversion cycle-166-184-867-274-731-1511-1949
OCF / EBITDA %35.9%81.3%52.4%214.6%105.7%60.8%—
OCF / EBITDA % (3 years)——53.7%90.4%98.9%118.0%142.2%
Debt / equity—44.218.4010.1121.85——
Current ratio0.560.600.800.810.750.490.55
Net debt / EBITDA2.08—2.28————