MBL Infrastructures (MBL) reported lower than expected performance mainly on account of insipid order inflow seen in the last one year and seasonal overhang. Top-line grew by ~17% yoy to Rs4.1bn marginally below our expectation of Rs4.2bn. Operating profit declined by ~10% yoy to Rs473mn below our expectation. EBITDA margin stood at ~11.7%. Net profit de-grew by ~17% yoy to Rs177mn, which is below our expectation of ~Rs190mn. Notably, weak order intake has been a setback for MBL over the last 8-12 months as it could add orders worth ~Rs5.5bn only in 1HFY16. Nevertheless, MBL is still maintaining its guidance...