Mega Nirman and Industries Ltd (539767)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Mega Nirman's revenue was ₹2.4 Cr (+269.2% year on year, -28.6% on the previous quarter), and net profit ₹0.0 Cr (against a loss a year earlier); the operating margin was -13.2%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹2.4 | +269.2% | -28.6% |
| Operating profit | ₹-0.3 | loss widened | to loss |
| Net profit | ₹0.0 | from loss | -89.0% |
| EPS (₹) | 0.01 | from loss | -90.0% |
| Operating margin | -13.2% | — | — |
📢 Recent Corporate Announcements
Mega Nirman & Industries has executed a Master EV Charging Services Agreement with logistics major Safexpress Private Limited to install, own, and operate charging stations under its MEGACHARGE brand. The agreement spans 10 years per site (extendable by 3 years) and supersedes an earlier pilot agreement dated April 29, 2026 for a site in Agra. While no aggregate contract value or minimum site commitment is disclosed, Safexpress provides a minimum monthly consumption guarantee per site. Stations must be commissioned within 60 days of site finalization, funding the capex at Mega Nirman's own cost.
- Master EV charging agreement executed on October 9, 2026 with Safexpress Private Limited
- Agreement tenure is 10 years per site from commissioning, extendable by 3 years
- Each station to be commissioned within 60 days following feasibility assessment and Site Annexure
- Safexpress guarantees minimum monthly consumption per site and covers the company margin on shortfalls
- Aggregate contract value and site count are not disclosed; revenue depends on units consumed
Mega Nirman and Industries Ltd approved a fresh fundraise via a Rights Issue of equity shares for an amount not exceeding ₹50 crore, subject to shareholder approval via postal ballot. This ₹50 crore fundraise is substantial, representing nearly 48% of its current market cap of ₹105 crore and nearly 3x its TTM revenue of ₹17 crore. The company had previously withdrawn an earlier draft letter of offer submitted to BSE. Additionally, the board appointed Mr. Ishaan (aged 22, pursuing BCA) as an Additional Non-Executive Non-Independent Director alongside approving other board appointments.
- Approved fresh Rights Issue of equity shares for up to ₹50 Crores, after withdrawing a previous application
- Proposed Rights Issue represents ~47.6% of current market cap of ₹105 Cr and ~294% of TTM revenue of ₹17 Cr
- Appointed Mr. Ishaan (age 22) as Additional Non-Executive, Non-Independent Director effective October 07, 2026
- Remote e-voting on postal ballot begins October 08, 2026 and ends November 06, 2026, with results by November 10, 2026
Mega Nirman and Industries Ltd approved a fresh fundraise via a Rights Issue of equity shares for an amount not exceeding ₹50 crore, subject to shareholder approval via postal ballot. This ₹50 crore fundraise is substantial, representing nearly 48% of its current market cap of ₹105 crore and nearly 3x its TTM revenue of ₹17 crore. The company had previously withdrawn an earlier draft letter of offer submitted to BSE. Additionally, the board appointed Mr. Ishaan (aged 22, pursuing BCA) as an Additional Non-Executive Non-Independent Director alongside approving other board appointments.
- Approved fresh Rights Issue of equity shares for up to ₹50 Crores, after withdrawing a previous application
- Proposed Rights Issue represents ~47.6% of current market cap of ₹105 Cr and ~294% of TTM revenue of ₹17 Cr
- Appointed Mr. Ishaan (age 22) as Additional Non-Executive, Non-Independent Director effective October 07, 2026
- Remote e-voting on postal ballot begins October 08, 2026 and ends November 06, 2026, with results by November 10, 2026
Mega Nirman and Industries Ltd has scheduled a Board of Directors meeting on October 7, 2026, to deliberate and consider raising funds through equity shares, convertible instruments, or other permissible securities. The company will also seek shareholder approval for the proposed fundraising and regularisation of director appointments made on August 11, 2026. The quantum and mode of fundraising remain undisclosed pending the board meeting outcome. The company currently has a market capitalization of Rs 105 Cr and TTM revenue of Rs 17 Cr.
- Board meeting scheduled for October 07, 2026, to consider fundraising proposals
- Fundraising mode to be evaluated via equity shares, convertible instruments, or other securities
- Regularisation of Director(s) appointed on August 11, 2026, to be placed for member approval
- Trading window closed from October 1, 2026, until 48 hours post Q2 financial results or board outcome
Mega Nirman & Industries Limited announced that shareholders approved key resolutions at its 43rd Annual General Meeting held on August 25, 2026. The members cleared the alteration of the Articles of Association along with the redesignation of Mr. Ankan Gupta as Chairman-cum-Managing Director for a term of 5 years. Additionally, M/s. Krishan Rakesh & Co., Chartered Accountants, was appointed as Statutory Auditors for a 5-year tenure. All resolutions were passed with the requisite majority per the scrutinizer report dated August 27, 2026.
- Shareholders approved the alteration of the Articles of Association at the 43rd AGM
- Mr. Ankan Gupta redesignated as Chairman-cum-Managing Director for 5 years
- M/s. Krishan Rakesh & Co. appointed as Statutory Auditors for a 5-year term
- Resolutions passed following voting results of the AGM held on August 25, 2026
Mega Nirman & Industries Limited announced the voting results of its 43rd Annual General Meeting held on August 25, 2026. Shareholders approved the redesignation of Mr. Ankan Gupta from Executive Director to Chairman-cum-Managing Director for a 5-year tenure. In addition, M/s. Krishan Rakesh & Co., Chartered Accountants, was appointed as Statutory Auditors for 5 consecutive years, alongside an approved alteration to the Articles of Association.
- AGM held on August 25, 2026 approved all 3 proposed resolutions with requisite majority
- Mr. Ankan Gupta redesignated from Executive Director to Chairman-cum-Managing Director for 5 years
- M/s. Krishan Rakesh & Co. appointed as Statutory Auditors for a period of 5 consecutive years
- Approved alteration to the Articles of Association of the Company
At the 43rd Annual General Meeting held on August 25, 2026, shareholders of Mega Nirman & Industries voted down the resolution for the retirement by rotation and re-appointment of Whole-Time Director Ramanuj Murlinarayan Darak. Consequently, Mr. Darak ceased to hold his directorship effective August 25, 2026. The company stated it is taking necessary steps to reconstitute the Board to maintain compliance with statutory minimum director requirements under the Companies Act, 2013. With promoter holding standing at just 0.29%, public shareholder voting holds decisive control over board appointments.
- Shareholders rejected the re-appointment of Whole-Time Director Ramanuj Murlinarayan Darak at the 43rd AGM.
- Cessation of Mr. Darak as Whole-Time Director took effect on August 25, 2026.
- Company is initiating steps to ensure compliance with statutory minimum board strength under the Companies Act, 2013.
- Company operates with a very low promoter holding of 0.29% as of March 2026.
Mega Nirman & Industries announced that shareholders did not approve the resolution for the retirement by rotation and re-appointment of Whole-Time Director Ramanuj Murlinarayan Darak at the 43rd AGM held on August 25, 2026. Consequently, Mr. Darak ceased to be a Whole-Time Director effective August 25, 2026. Given the company's extremely low promoter holding of 0.29%, public shareholder voting carries decisive influence. The company stated it is taking steps to appoint directors to comply with minimum statutory board requirements under the Companies Act, 2013.
- Resolution for re-appointment of Whole-Time Director Ramanuj Murlinarayan Darak failed to pass at the 43rd AGM.
- Cessation of the Whole-Time Director took effect on August 25, 2026.
- Company is taking steps to reconstitute the board to comply with statutory minimum director requirements.
- Company operates with a very low promoter holding of 0.29% as of March 2026.
Mega Nirman & Industries Limited has submitted the resignation letter of Director Mr. Anand Rai following a query from BSE regarding its initial filing on 11-Aug-2026. The company cited internal verification and documentation processes as reasons for the delayed submission. This filing provides regulatory compliance under Regulation 30 of SEBI LODR Regulations.
- Resignation letter of Director Mr. Anand Rai submitted following exchange query
- Clarification follows initial Regulation 30 filing made on 11-Aug-2026
- Company attributed the delay to internal documentation and verification processes
- Company operates at a small base with TTM revenue of Rs 17 Cr and promoter holding at 0.29%
Mega Nirman and Industries Ltd (MNIL) reported a turnaround in Q1 FY27 (ended June 2026) with a net profit of ₹2.85 lakhs, compared to a loss of ₹18.38 lakhs in the same period last year. Revenue from operations grew significantly by 269% YoY to ₹2.40 Cr, although it saw a sequential decline of 28.6% from ₹3.36 Cr in Q4 FY26. The company also announced a board reshuffle, elevating CFO Himanshu Gopal to Executive Director while seeing the resignation of Executive Director Anand Rai. Despite the YoY growth, profitability remains marginal with a PBT of only ₹3.81 lakhs on a revenue base of ₹2.40 Cr.
- Revenue from operations increased to ₹2.40 Cr in Q1 FY27 from ₹0.65 Cr in Q1 FY26.
- Net profit turned positive at ₹2.85 lakhs versus a loss of ₹18.38 lakhs in the year-ago quarter.
- Total expenses rose to ₹2.78 Cr, primarily driven by stock-in-trade purchases of ₹2.27 Cr.
- Board restructured with two new appointments (Himanshu Gopal and Shruti Swaroop) and two resignations (Anand Rai and Sushma Jain).
- Earnings Per Share (EPS) for the quarter stood at ₹0.01 compared to ₹(0.55) in June 2025.
Mega Nirman and Industries Ltd reported Q1 FY27 revenue of ₹2.40 crore, which constitutes approximately 16% of its TTM revenue of ₹15 crore. Net profit for the quarter was marginal at ₹2.85 lakhs, a significant drop from the ₹26.27 lakhs reported in the sequential March 2026 quarter. The company underwent a board restructuring, appointing its CFO Himanshu Gopal as an Executive Director and Shruti Swaroop as an Independent Director, while two other directors resigned. The company continues to operate with extremely thin margins as it attempts to pivot into the EV charging and battery manufacturing sectors.
- Q1 FY27 revenue from operations reported at ₹2.40 crore compared to ₹3.36 crore in the previous quarter.
- Net profit for the quarter ended June 30, 2026, stood at ₹2.85 lakhs.
- CFO Himanshu Gopal, with the company since November 2019, has been appointed as an Additional Director (Executive).
- Ms. Shruti Swaroop, a leadership advisor with 20+ years of experience, joined as an Independent Director.
- Two directors, Mr. Anand Rai and Ms. Sushma Jain, resigned from the board effective August 11, 2026.
Mega Nirman and Industries reported Q1 FY27 revenue of ₹2.40 crore, a 269% increase compared to ₹0.65 crore in the same quarter last year. The company turned profitable with a net profit of ₹2.85 lakhs, recovering from a loss of ₹18.38 lakhs in June 2025. Alongside results, the board announced a management reshuffle, appointing CFO Himanshu Gopal as an Executive Director while accepting the resignation of Executive Director Anand Rai. Despite the YoY growth, margins remain extremely thin with total expenses at ₹2.78 crore against operational revenue of ₹2.40 crore.
- Q1 FY27 Revenue from operations stood at ₹2.40 crore, up from ₹0.65 crore YoY.
- Net Profit for the quarter recorded at ₹2.85 lakhs vs a loss of ₹18.38 lakhs in Q1 FY26.
- Total Expenses for the quarter reached ₹2.78 crore, representing 115% of operational revenue.
- Mr. Himanshu Gopal, CFO since 2019, appointed as Additional Director (Executive) effective August 11, 2026.
- Promoter holding remains critically low at 0.29% as per latest available data.
Mega Nirman and Industries reported Q1 FY27 revenue of ₹2.40 crore, showing a significant YoY increase from ₹0.65 crore but a sequential decline from ₹3.36 crore in Q4 FY26. The company elevated its CFO, Himanshu Gopal, to the position of Executive Director, while Executive Director Anand Rai and Independent Director Sushma Jain resigned. Net profit for the quarter remained marginal at ₹2.85 lakhs. The company continues to operate with an extremely low promoter holding of 0.29%, which remains a critical governance concern.
- Q1 FY27 revenue stood at ₹2.40 crore, a 268% increase compared to ₹0.65 crore in the same quarter last year.
- Net profit for the quarter ended June 30, 2026, was ₹2.85 lakhs, improving from a loss of ₹18.38 lakhs YoY.
- CFO Himanshu Gopal, associated with the company since November 2019, was appointed as Additional Director (Executive).
- Executive Director Anand Rai and Independent Director Sushma Jain resigned effective August 11, 2026.
- Promoter holding remains stagnant at a critically low level of 0.29% as of the latest filings.
Mega Nirman and Industries Ltd reported a Q1 FY27 net profit of ₹2.85 lakhs, a turnaround from a loss of ₹18.38 lakhs in the same quarter last year. Revenue from operations grew 269% YoY to ₹2.40 cr, though it declined sequentially from ₹3.36 cr in Mar 2026. The board underwent a significant reshuffle, elevating CFO Himanshu Gopal to Executive Director while accepting the resignations of Executive Director Anand Rai and Independent Director Sushma Jain. Ms. Shruti Swaroop was appointed as a new Independent Director to fill the vacancy.
- Q1 FY27 revenue from operations stood at ₹2.40 cr, up from ₹0.65 cr in Q1 FY26.
- Net profit for the quarter ended June 30, 2026, was ₹2.85 lakhs compared to a loss of ₹18.38 lakhs YoY.
- CFO Himanshu Gopal, with the company since November 2019, has been elevated to the Board as an Executive Director.
- Two directors, Anand Rai (Executive) and Sushma Jain (Independent), resigned effective August 11, 2026.
- Promoter holding remains extremely low at 0.29% as of March 2026.
Mega Nirman and Industries Ltd reported a turnaround in Q1 FY27, posting a net profit of ₹2.85 lakhs compared to a loss of ₹18.38 lakhs in the same quarter last year. Revenue from operations grew significantly to ₹2.40 crore, up from ₹0.65 crore YoY. The company also announced a major board shuffle, including the elevation of CFO Himanshu Gopal to Executive Director and the resignation of Executive Director Anand Rai. Despite the revenue growth, margins remain extremely thin with a PBT margin of just 1.35% for the quarter.
- Revenue from operations increased to ₹2.40 crore in Q1 FY27 from ₹0.65 crore in Q1 FY26.
- Net profit turned positive at ₹2.85 lakhs versus a loss of ₹18.38 lakhs in the previous year's corresponding quarter.
- Total expenses for the quarter rose to ₹2.78 crore, primarily driven by purchases of stock-in-trade at ₹2.27 crore.
- CFO Himanshu Gopal appointed as Additional Director (Executive) effective August 11, 2026.
- Executive Director Anand Rai and Independent Director Sushma Jain resigned from the board effective August 11, 2026.
Financial Performance
Revenue Growth by Segment
The company operates in a single reportable business segment (EV charging and battery solutions), which saw total turnover grow by 3,164% YoY from INR 23,971.12 (in '00) in FY24 to INR 7,82,503.18 (in '00) in FY25.
Geographic Revenue Split
Not disclosed in available documents, though the company is headquartered in North West Delhi.
Profitability Margins
Net Profit Margin turned positive at 0.68% in FY25 (INR 5,293.78 in '00) compared to a significant loss of INR 53,413.40 (in '00) in FY24.
EBITDA Margin
PBT margin for FY25 is 0.90% (INR 7,084.54 in '00) compared to a negative margin in FY24.
Capital Expenditure
The company increased its Authorized Share Capital by 77% from INR 28.25 Cr to INR 50 Cr to fund business expansion. It raised INR 9.75 Cr through a preferential allotment of 79,66,667 equity shares at INR 15 per share in July 2025.
Credit Rating & Borrowing
Non-current liabilities are nil as of March 31, 2025. Current liabilities decreased by 85% from INR 6.54 Cr in FY24 to INR 0.96 Cr in FY25.
Operational Drivers
Raw Materials
Lead Acid Batteries, Lithium Batteries, Battery Containers, Cells, Solar Panels, Motors, and Controllers. Specific percentage of total cost for each is not disclosed.
Capacity Expansion
The company is expanding into battery recycling and charging set up plants through collaborations. Specific installed capacity in units is not disclosed.
Raw Material Costs
Total expenditure for FY25 was INR 7.75 Cr, representing 99.1% of revenue, up from INR 0.77 Cr in FY24.
Strategic Growth
Growth Strategy
MNIL is targeting profitable growth by strategically building EV charging infrastructure, including AC and DC chargers, and expanding into battery manufacturing (Lead Acid and Lithium) and solar systems. The strategy includes an app-based platform for real-time information and digital payments to drive user adoption.
Products & Services
AC and DC chargers, Lead Acid Batteries, Lithium Batteries, Battery Containers, Solar Panels, Solar Systems, Electric Vehicles, Spare Parts, Motors, and Controllers.
Brand Portfolio
MNIL (Mega Nirman & Industries Limited).
New Products/Services
New focus on battery recycling and charging set up plants for public, private, and commercial use.
Market Expansion
Targeting replicability and scalability across developing countries and capitalizing on business-friendly government policies.
Strategic Alliances
Collaborating with partners and stakeholders for infrastructure and charging set up plants.
External Factors
Industry Trends
The industry is shifting toward smart grid integration and app-based user experiences. MNIL is positioning itself as a technology-integrated provider to drive EV adoption.
Competitive Landscape
Facing competition from existing and new players adopting low-cost end-to-end business models.
Competitive Moat
MNIL's moat is built on its integrated app-based platform providing real-time information and advanced manufacturing facilities for EV components.
Macro Economic Sensitivity
Sensitive to government policies regarding electric vehicles and sustainable transportation landscapes.
Consumer Behavior
Increasing demand for convenient, accessible EV charging and sustainable transportation options.
Regulatory & Governance
Industry Regulations
Operations are governed by the Payment of Wages Act 1936, Minimum Wages Act 1948, and Industrial Disputes Act 1947.
Environmental Compliance
Compliant with The Environment (Protection) Act, 1986 for battery manufacturing and recycling operations.
Taxation Policy Impact
Current income tax provision for FY25 is INR 1,557.96 (in '00).
Legal Contingencies
No significant or material orders were passed by regulators or courts impacting the going concern status. No proceedings are pending under the Insolvency and Bankruptcy Code, 2016.
Risk Analysis
Key Uncertainties
Key risks include Financial Risk, Regulatory Risks, Strategic Risks, and Cyber threats to digital platforms.
Geographic Concentration Risk
Operations are currently concentrated in the North West Delhi region (Pitampura).
Third Party Dependencies
Dependency on Beetal Financial & Computer Services Pvt. Ltd. as the Registrar and Share Transfer Agent.
Technology Obsolescence Risk
Risk of rapid shifts in digital platform standards and EV charging technology.
Credit & Counterparty Risk
Receivables and current assets represent 85% of the balance sheet, indicating significant counterparty exposure.
