Key Metrics of Universal Mep Projects & Engineering Services Limited
About Universal Mep Projects & Engineering Services Limited
Sectors
Company details
- Registered office
- Voltas House 'a' Dr Babasaheb Ambedkar Road, Chinchpokli, Mumbai, In-mh, 400033
Operational Areas of Universal Mep Projects & Engineering Services Limited
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 31 Mar 2026 | ICRA | Reaffirmed | AA+ | A1+ | Stable | ₹2,000 Cr | View |
Credit strengths (ICRA, Mar 2026)
+ Financial flexibility for being a part of the Tata Group
Voltas is a part of the Tata Group, which holds a 30.30% stake in the company.
+ Strong business risk profile with significant contribution from EMPS and UPBG verticals
Voltas is present in the mechanical, electrical and plumbing (MEP) as well as the heating, ventilation and air conditioning (HVAC) segments in domestic and overseas (mainly West Asian) markets, in addition to the RAC business in the domestic market.
+ Leadership position in the domestic RAC and commercial refrigeration and AC businesses
The company has a dominant market position in the domestic RAC segment, with presence in both window and split ACs.
Credit challenges
− Ongoing losses in the new appliances business under its JV, VoltBeko, impacting the consolidated earnings of the company
Voltas (including Tata Investment Corporation Limited) has a 50-50 JV with Arçelik Anonim Sirketi (Arçelik), a Turkish consumer brand, called Voltas Beko Home Appliances Private Limited (Voltbeko), for home appliances such as refrigerators, washing machines, dishwashers and microwave ovens.
Could lead to an upgrade
ICRA could upgrade the long-term rating if the company demonstrates sustained improvement in its revenues and profitability, coupled with its ability to achieve business diversification while maintaining its leading position in the UPBG segment and improving its new appliances business. The ability to improve margins in the EMPS segment on a sustained basis, while maintaining a favourable working capital cycle along with superior liquidi ty, may lead to a rating upgrade.
Could lead to a downgrade
Pressure on the ratings could arise from significant contraction in earnings and
Agency-reported financials (ICRA, 31 Mar 2026)
| Metric | FY2024 | FY2025 | 9M FY2026 |
|---|---|---|---|
| Operating income | ₹12,481 Cr | ₹15,413 Cr | ₹9,357 Cr |
| PAT | ₹387 Cr | ₹960 Cr | ₹351 Cr |
| OPBDIT/OI | 3.8% | 7.3% | 4.6% |
| PAT/OI | 3.1% | 6.2% | 3.8% |
| Total outside liabilities/Tangible net worth (times) | 1.00× | 1.00× | — |
| Total debt/OPBDIT (times) | 1.60× | 0.80× | — |
| Interest coverage (times) | 8.50× | 18.20× | 6.60× |
| Revenue growth (YoY) | — | 23.5% | — |
| EBITDA (margin × income) | ₹474 Cr | ₹1,125 Cr | ₹430 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹759 Cr | ₹900 Cr | — |
| Implied interest cost (EBITDA ÷ coverage) | ₹55.80 Cr | ₹61.82 Cr | ₹65.21 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term Short-term, Fund based Limits | Working capital & bank lines | ₹360 Cr | ₹360 Cr | 0.0% | AA+ / A1+ (Stable) | Reaffirmed | ICRA |
| Long-term Short-term, Non-fund Based Facilities Short-term, Non-fund-Based | Non-fund based limits | ₹1,040 Cr | ₹1,040 Cr | 0.0% | AA+ / A1+ (Stable) | Reaffirmed | ICRA |
| Facilities | Other | ₹500 Cr | ₹500 Cr | 0.0% | A1+ | Reaffirmed | ICRA |
| Long-term Short-term, Unallocated Limits | Working capital & bank lines | ₹100 Cr | ₹100 Cr | 0.0% | AA+ / A1+ (Stable) | Reaffirmed | ICRA |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2024-25
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 81% |
| Information on file | 22% · missing: Audited financial statements (last 18 months), Annual results history (3+ years), Liquidity position, Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 82% chance the next rating action is stable or better
- Current rating AA+ (investment grade)
- Interest coverage 6.6×
- ₹100 cr of rated limits not yet tied to a lender
Rated limits by facility
Timeline
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Universal Mep Projects & Engineering Services Limited
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 Larsen & Toubro |
Capital Goods & Power Equipment · Heavy Engineering & Capital Goods | larsentoubro.com | 1938 | Mumbai, India |
 Thermax |
Capital Goods & Power Equipment · Heavy Engineering & Capital Goods | thermaxglobal.com | 1980 | Pune, India |
 Blue Dart Express |
Outlets operated by Blue Dart Express. | bluedart.com | 1983 | Mumbai, India |
| H.G. INFRA ENGINEERING LIMITED (PART IX) | Machine Tools & Industrial Machinery · Heavy Engineering & Capital Goods | — | — | Jodhpur, Rajasthan, India |
 Tata Hitachi Construction Machinery Company |
Machine Tools & Industrial Machinery · Heavy Engineering & Capital Goods | tatahitachi.co.in | — | India |
 Kirloskar Brothers |
Capital Goods & Power Equipment · Heavy Engineering & Capital Goods | kirloskarpumps.com | 1888 | Pune, India |
 Sansera Engineering Limited |
Machine Tools & Industrial Machinery · Heavy Engineering & Capital Goods | sansera.in | — | Bangalore, Karnataka, India |
 Action Construction Equipment Limited |
Fertilisers, Seeds & Crop Protection · Agriculture & Agri-Inputs | ace-cranes.com | 2009 | Palwal, India |
 AJAX Engineering |
Commercial Vehicles & Buses · Automobile Manufacturers | ajax-engg.com | 1992 | Bangalore, India |
| Il&FS Engineering And Construction Company Limited | · Construction | — | — | Hyderabad, Telangana, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.