McNally Bharat Engineering Company Share Price

McNally Bharat Engineering Company Limited is one of the leading Engineering Companies in India, which was incorporated on 10th July 1961 under the name of McNally Bird Engineering Company Limited as a joint venture between McNally Pittsburg, USA and Bird Co. The Companys name was changed from McNally Bird Engineering Company Limited to the present name McNally Bharat Engineering Company Limited in 1972. The Company, headquartered at Kolkata is engaged in diversified construction activities primarily providing Turnkey Projects in the areas of Power, Steel, Alumina, Material Handling, Mineral Beneficiation, Coal washing, Ash handling and disposal, Port Cranes, Civic and Industrial water supply etc. The turnkey construction activity of the Company is managed by its Projects Division also based at Kolkata through separate SBUs that assume responsibility for each activity from concept to commissioning. The Company also manufactures a range of equipment largely employed in the above activities, which are undertaken at two factories under the Products division of the Company. MBE had designed and built the longest cross country conveying system in India during the year of 1968 for 800 TPH coal handling plant of thermal power station at Talcher, Orissa. In 1970, the first indigenously designed Mineral Beneficiation Plant in India for beneficiation of fluorspar was built by the Company for Gujarat Mineral Development Corporation Ltd at Kadipani, Gujarat. Also in the same year, Company built the first Carbon Paste Plant indigenously, for Indian Aluminium. In 1979, MBE had built the first indigenously designed 700 TPH Coal Washery for Bharat Coking Coal Ltd. at Sudamdih, Jharkhand. The Companys control was taken over by the Williamson Magor Group in the period of 1980.In 1998, the company had entered into Open cast mining sector and secured an order for 20,000 tph shiftable conveying system followed by orders for conveyors and Bucket wheel excavator, Spreader etc from Neyveli Lignite Corporation, Tamil Nadu. After a year, in 1999, a Joint Venture was formed with Eriez Magnetics, USA, worlds leading manufacturers of magnetic, vibratory and metal detection equipment for manufacture of their products in India. The Company had received order from Neyveli Lignite Corporation in the year 2000 for first dense phase pneumatic conveying system for ash handling in India and in 2001, MBE had obtained the first major order for Water Management in a joint venture project for combined water supply to 674 habitations in Tiruchirapally District, Tamil Nadu. During the year 2002, the company had entered into a licensing agreement with Konecranes Heavy Lifting Corporation VLC Corporation for technology transfer for design, engineering, manufacture, erection commissioning of a range of Port Handling Equipment. In the same year of 2002, MBE had acquired 100% control over ErotervWaagnerBiro, Hungary, now known as EWB Kornyezetvedelmi Kft., world leader in Pneumatic conveying Technology. Designed, built and commissioned Indias largest capacity Level luffing cranes in the year 2004 at Kandla Port. During the year 2005, the company had built and commissioned in global record time of 14 months a complete leadzinc beneficiation plant for M/s Hindustan Zinc Agucha mines, a Green Anode plant for Bharat Aluminium Company at Korba and the Indias largest capacity Goliath Crane (300 MT) for Cochin Shipyard Ltd. In the same year of 2005, MBE had built and commissioned Container Handling Crane in India at Haldia Dock Complex.During the year 2006, the company made a tieup with TPE of Russia in steel sector for iron and steel making. MBE, a first Indian company made a association with Aluminium Pechiney (France) for building Hyper Dense Phase Alumina Conveying System at Angul for National Aluminium Company Ltd. And also in the same year of 2007, the company had entered into steel sector and awarded an order for constructing Sinter plant at Vizag by RINIL. In January of the year 2008, the company received an order from Bharat Heavy Electricals (BHEL), Bangalore, for supply of an ashhandling system mechanical package for DVC Mejia Phase B units 1 and 2 (2 x 500 mw) valued at Rs 289.2 million and in February, bagged a Rs 6,218.8 million order from Steel Authority of India (SAIL) for its expansion at the IISCO steel plant. MBE unanimously agreed to acquire 68.28% shareholding of Sayaji Iron Engineering at Rs 590.1 million in May of the year 2008. During September of the same year 2008, the company bagged an order worth of Rs 1.15 bn from BHEL.In 2010, the company bagged an order for Rs. 827 crores from Madhya Pradesh Generating Company (MPGENCO). during the same year, the company bagged orders for the supply under Pre Treatment Plant Package as well as one order for Inland Transportation, Insurance, Erection, Testing, Commissioning and Guarantee Tests of Pre Treatment Plant Package for Vindhyachal Super Thermal Power Project, NTPC Ltd, stage IV (2X500 MW). The total value of the order is Rs. 33.77 Crores including taxes and duties.In 2011, the company bagged various orders such as Rs. 115.56 Crores from Neyveli Lignite Corporation Limited, Rs. 379 Crores from Steel Authority of India Ltd, Rs. 27.99 Crores from Steel Hindalco Industries Ltd, Rs. 109.25 Crores from Bhavnagar Energy Company Ltd, Rs 197.33 crore Bharat Heavy Electricals Limited (BHEL), Essar Projects and Maharashtra State Power Generation Co. Ltd.In 2012, the company received order worth a total value of Rs 66.42 crores from various vendors. The company also bagged two orders worth Rs 70 crore from VISAPower Ltd, two orders worth Rs. 35.44 crore from various vendors, Rs 177 cr orders from NTPC, Unitech HiTech Structures Ltd. The company also received an order from Bihar State Electricity Boardworth Rs. 115.50 crore for manufacturing, supply, erection, inland transportation and insurance of equipment, materials and mandatory spares for Ganga Water Supply Package for Barauni Thermal Power station.In 201415, the Company completed construction of Civil Foundation Structural Steel Work for 6x150 MW Captive Power Plant at Mahan Aluminum Project of Hindalco. A number of significant, complex and large value projects were commissioned including Bellary CHP, HCSD Disposal System of Crescent Power, NLC BWE, Paste Fill Plant of HZL etc. The Company commissioned PG test handover of 2.5 MTPA non coking coal washery for SV Power Limited at Korba, completed renovation work of existing Coarse Coal BATAC Jig from CCL Sawang Washery at Jharkhand completed renovation of Coarse Coal Fine Coal BATAC Jigs from CCL Kedla washery at Jharkhand completed supply of several Screen equipments to various clients like CCL, BCCL Mahavir Coal Washery completed supply of Screen equipments at Bosnia commissioning, Performance Guarantee Tests handover for 0.6 MTPA Iron Ore Beneficiation Plant for MSPL, Hospet, Karnataka supplied 66 nos. Decanter Centrifuges for different Environmental Projects in 2015.In 201516, Company completed supply of 250 TPH Batac Jigs and other equipments for Iron Ore for Rungta Project, renovation of Thickener work for Central Coalfields Ltd., Sawang washer design, engineering and civil work for 250 TPH Silica Removal Plant for Vedanta Ltd., 400 TPH Coal Washery at Hirmi in Chattisgarh for Ultratech Cement Ltd has been commissioned, operation maintenance of the Bina Deshaling Plant on behalf of Northern Coalfields Ltd.In 2017, Company acquired Vedica Sanjeevani Projects Pvt Ltd., which is engaged in development of real estate resorts.The Honble National Company Law Tribunal(NCLT), Kolkata Bench vide order dated 29 April, 2022 under Insolvency and Bankruptcy Code, 2016, one of the financial creditors, initiated Corporate Insolvency Resolution Process against the Company. In terms of NCLT Order dated 24th February 2023 passed under the Insolvency Bankruptcy Code, 2016 in the matter of McNally Sayaji Engineering Limited, ceased to be a subsidiary of the Company. As on 31st March 2023, the Company had only 1 Indian subsidiary company namely, McNally Bharat Equipments Limited and 2 overseas subsidiaries, MBE Mineral Technologies Pte Limited and MBE Minerals Zambia Limited.