MBL Infrastructures reported better than expected performance mainly on account of sound execution shown by the company. Top-line grew by ~20% yoy to Rs6.1bn as against our expectation Rs5.7bn. Operating profit witnessed a growth of ~22% yoy to Rs647mn way ahead of our expectation of Rs570mn. EBITDA margin remained stable at 10.6%. Net profit grew by ~26% yoy to Rs294mn, which is ahead of our expectation of ~Rs223mn. Notably, a major growth hindrance for MBL in coming time could possibly be sluggish order inflow. Nevertheless, MBL is still maintaining its guidance to add orders worth ~Rs30-35bn in FY16E. Gross...