Price
Financials
Consolidated, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 97.57 | 87.78 | 150.77 | 67.89 | 86.77 | 147.26 | 308.31 | 87.54 | 106.82 | 53.70 | 254.06 | 88.37 |
| Expenses | 83.44 | 71.56 | 141.59 | 51.36 | 74.08 | 132.13 | 285.88 | 70.46 | 90.55 | 49.01 | 233.27 | 72.92 |
| Operating Profit | 14.13 | 16.22 | 9.18 | 16.53 | 12.69 | 15.13 | 22.43 | 17.08 | 16.27 | 4.69 | 20.79 | 15.45 |
| OPM % | 14.48% | 18.48% | 6.09% | 24.35% | 14.62% | 10.27% | 7.28% | 19.51% | 15.23% | 8.73% | 8.18% | 17.48% |
| Other Income | 3.00 | 0.79 | 1.68 | 0.91 | 2.18 | 0.86 | 2.40 | 2.99 | 8.42 | 1.88 | 2.37 | 1.76 |
| Interest | 6.28 | 6.00 | 5.20 | 5.99 | 6.45 | 7.82 | 7.36 | 7.72 | 7.57 | 6.90 | 3.15 | 5.66 |
| Depreciation | 3.78 | 3.98 | 4.30 | 3.31 | 3.33 | 4.59 | 4.07 | 3.37 | 3.33 | 3.33 | 3.50 | 3.22 |
| Profit before tax | 7.07 | 7.03 | 1.36 | 8.14 | 5.09 | 3.58 | 13.40 | 8.98 | 13.79 | -3.66 | 16.51 | 8.33 |
| Tax % | 11.32% | 21.62% | -99.26% | 17.81% | 17.88% | 29.89% | 14.70% | 16.70% | 9.72% | 16.39% | 30.41% | 24.85% |
| Net Profit | 7.96 | 4.62 | 2.76 | 6.80 | 4.18 | 2.51 | 11.43 | 7.48 | 12.46 | -4.26 | 11.50 | 6.25 |
| EPS in Rs | 0.26 | 0.13 | 0.10 | 0.25 | 0.15 | 0.10 | 0.45 | 0.28 | 0.47 | -0.16 | 0.43 | 0.23 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 258 | 399 | 385 | 326 | 204 | 274 | 460 | 513 | 460 | 610 | 502 | 503 |
| Expenses | 178 | 279 | 280 | 254 | 158 | 239 | 409 | 455 | 402 | 543 | 436 | 446 |
| Operating Profit | 80 | 120 | 106 | 72 | 45 | 35 | 51 | 58 | 58 | 67 | 66 | 57 |
| OPM % | 31% | 30% | 27% | 22% | 22% | 13% | 11% | 11% | 13% | 11% | 13% | 11% |
| Other Income | 2 | 4 | 14 | 3 | 29 | 3 | 3 | 29 | 6 | 6 | 8 | 14 |
| Interest | 40 | 54 | 59 | 39 | 34 | 32 | 28 | 25 | 24 | 28 | 25 | 23 |
| Depreciation | 29 | 55 | 52 | 30 | 24 | 21 | 16 | 13 | 16 | 15 | 14 | 13 |
| Profit before tax | 15 | 14 | 8 | 6 | 16 | -15 | 9 | 48 | 25 | 30 | 36 | 35 |
| Tax % | 33% | 23% | -1% | 20% | 74% | -20% | 29% | 24% | 10% | 18% | 24% | |
| Net Profit | 10 | 11 | 8 | 5 | 3 | -13 | 6 | 36 | 23 | 25 | 27 | 26 |
| EPS in Rs | 0.38 | 0.42 | 0.30 | 0.20 | 0.15 | -0.49 | 0.24 | 1.26 | 0.80 | 0.92 | 1.01 | 0.97 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 7% | 13% | -1% | -20% | ||
| Compounded Profit Growth | 10% | 32% | 15% | -1% | ||
| Stock Price CAGR | % | 13% | -1% | -32% | ||
| Return on Equity | 9% | 11% | 12% | 11% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 6 | 6 | 6 | 6 | 26 | 26 | 27 | 27 | 27 | 27 |
| Reserves | 49 | 59 | 73 | 68 | 70 | 84 | 53 | 72 | 140 | 162 | 186 | 213 |
| Borrowings | 150 | 416 | 479 | 521 | 344 | 335 | 303 | 255 | 207 | 153 | 160 | 165 |
| Other Liabilities | 151 | 76 | 126 | 144 | 147 | 70 | 125 | 140 | 200 | 159 | 274 | 201 |
| Total Liabilities | 356 | 557 | 684 | 740 | 568 | 495 | 506 | 492 | 574 | 501 | 647 | 606 |
| Fixed Assets | 69 | 393 | 399 | 385 | 208 | 175 | 185 | 96 | 132 | 127 | 121 | 149 |
| CWIP | 0 | 0 | 3 | 25 | 0 | 0 | 0 | 0 | 7 | 3 | 3 | 0 |
| Investments | 98 | 24 | 30 | 31 | 31 | 38 | 32 | 30 | 31 | 21 | 21 | 21 |
| Other Assets | 189 | 140 | 252 | 300 | 329 | 282 | 290 | 366 | 404 | 349 | 501 | 436 |
| Total Assets | 356 | 557 | 684 | 740 | 568 | 495 | 506 | 492 | 574 | 501 | 647 | 606 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 4 | 102 | 79 | 101 | 29 | 2 | 100 | -8 | 73 | 65 | 75 | 32 |
| Cash from Investing Activity | -31 | -277 | -79 | -66 | 155 | 1 | -42 | 66 | -18 | -4 | -25 | -31 |
| Cash from Financing Activity | 35 | 186 | -2 | -21 | -212 | -20 | -73 | -64 | -33 | -79 | -27 | -20 |
| Net Cash Flow | 8 | 11 | -2 | 13 | -27 | -18 | -14 | -6 | 22 | -17 | 23 | -19 |
| Free Cash Flow | -32 | -251 | 14 | 31 | 236 | -6 | 74 | 52 | 35 | 57 | 67 | 32 |
| CFO/OP | 28% | 130% | 69% | 100% | 47% | -1% | 269% | 2% | 119% | 127% | 127% | 64% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 9 | 70 | 53 | 65 | 123 | 149 | 113 | 90 | 117 | 78 | 53 | 79 |
| Inventory Days | 102 | 17 | 190 | 200 | 218 | 339 | 273 | 222 | 167 | 163 | 85 | 101 |
| Days Payable | 183 | 94 | 295 | 228 | 204 | 211 | 187 | 202 | 279 | 222 | 130 | 123 |
| Cash Conversion Cycle | -71 | -6 | -51 | 37 | 138 | 277 | 199 | 109 | 5 | 20 | 9 | 58 |
| Working Capital Days | -29 | -74 | -13 | -18 | 51 | 132 | 88 | 108 | 54 | 76 | 20 | 48 |
| ROCE % | 15% | 13% | 11% | 9% | 12% | 4% | 10% | 13% | 13% | 16% | 15% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 69.00% | 68.98% | 68.81% | 68.81% | 68.81% | 68.81% | 68.81% | 68.81% | 68.81% | 68.81% | 68.81% | 68.81% |
| DIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.04% |
| Public | 31.00% | 31.01% | 31.18% | 31.18% | 31.18% | 31.18% | 31.18% | 31.18% | 31.19% | 31.18% | 31.17% | 31.15% |
| No. of Shareholders | 30,632 | 40,182 | 51,175 | 51,671 | 78,692 | 78,773 | 76,849 | 73,983 | 72,208 | 71,257 | 68,506 | 67,063 |
Fundamentals
Market Cap₹ 197 Cr.
Current Price₹ 7.41
Stock P/E7.52
Book Value₹ 8.89
ROCE15.0 %
ROE10.7 %
Dividend Yield0.00 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)-20%
Compounded Profit Growth (TTM)-1%
Consolidated figures.
Valuation
Market capRs 197 Cr
Enterprise valueRs 276 Cr
P/E (TTM)7.52x
Price to book0.82x
Price to sales0.39x
EV / EBITDA3.86x
EV / EBIT4.74x
EV / sales0.55x
Price to cash flow6.11x
Earnings yield13.29%
P/E, 3-year average10.66x
P/B, 3-year average1.23x
P/E, 5-year average11.09x
P/B, 5-year average1.13x
Profitability
Operating margin (excl. other income)13.17%
Operating margin (incl. other income)14.83%
EBITDA margin14.24%
Pre-tax margin6.95%
Net profit margin5.21%
Net margin, latest quarter7.08%
ROE12.02%
ROCE15.68%
ROA4.34%
ROE, 3-year average12.21%
ROCE, 3-year average15.16%
ROA, 3-year average4.24%
ROE, 5-year average13.89%
ROCE, 5-year average15.19%
ROA, 5-year average4.07%
ROIC (approx.)13.94%
Tax rate23.72%
Other income / net worth3.48%
Growth
Sales growth (latest year)-17.72%
Profit growth (latest year)9.07%
Sales CAGR, 3 years-0.69%
Sales CAGR, 5 years12.89%
Profit CAGR, 3 years-7.12%
Sales growth QoQ-65.22%
Profit growth QoQ-45.94%
Sales growth YoY (latest quarter)0.95%
Profit growth YoY (latest quarter)-16.31%
Per share
EPS (TTM)Rs 0.97
EPS (latest year)Rs 1.01
EPS (latest quarter)Rs 0.23
EPS, 3-year averageRs 0.91
EPS, 5-year averageRs 0.85
Book value per shareRs 8.89
Sales per shareRs 18.66
Cash flow per shareRs 1.20
Free cash flow per shareRs 1.19
Efficiency
Asset turnover0.83x
Fixed asset turnover3.38x
Inventory turnover5.65x
Inventory days65 days
Debtor days79 days
Debtors turnover4.61x
Creditor days123 days
Cash conversion cycle58 days
Working capital days48 days
Leverage
Total debtRs 165 Cr
Cash and bankRs 86 Cr
Net debtRs 79 Cr
Debt to equity0.69x
Net debt / EBITDA1.11x
Interest coverage2.50x
Owners' fund to total sources39.55%
Debt to assets27.28%
Cash flow
Cash from Operating Activity (latest year)Rs 32 Cr
Cash from Investing Activity (latest year)Rs -31 Cr
Cash from Financing Activity (latest year)Rs -20 Cr
Net Cash Flow (latest year)Rs -19 Cr
Free cash flow (latest year)Rs 32 Cr
FCFE (approx.: FCF + change in debt)Rs 37 Cr
Cash from ops / profit, 5 years2.03x
Sales to cash flow15.57x
Statement figures
Net sales (TTM)Rs 503 Cr
Net sales (latest year)Rs 502 Cr
Sales (latest quarter)Rs 88 Cr
Operating profit excl. other income (latest year)Rs 66 Cr
Operating profit (latest quarter)Rs 15 Cr
Other income (TTM)Rs 14 Cr
EBITDA (TTM)Rs 72 Cr
PBDT (TTM)Rs 48 Cr
Profit before tax (TTM)Rs 35 Cr
Tax (latest year)Rs 8 Cr
Net profit (TTM)Rs 26 Cr
Net profit (latest year)Rs 27 Cr
Net profit (latest quarter)Rs 6 Cr
Depreciation (TTM)Rs 13 Cr
Depreciation (latest quarter)Rs 3 Cr
Interest (TTM)Rs 23 Cr
Cost of goods sold (latest year)Rs 409 Cr
Total expenditure (latest year)Rs 436 Cr
Total income (latest year)Rs 510 Cr
Share capitalRs 27 Cr
ReservesRs 213 Cr
Shareholders' fundsRs 240 Cr
Total assetsRs 606 Cr
Net blockRs 149 Cr
Capital work in progressRs 0 Cr
InvestmentsRs 21 Cr
ReceivablesRs 109 Cr
InventoryRs 72 Cr
Other liabilitiesRs 201 Cr
Shares outstanding (crore)26.96
Ownership
Promoter holding68.81% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 7.5 is at the 9th percentile of its own 6.2-year range
(median 17.7, low 4.4, high 55.3).
P/B 0.82 is the lowest in 7.2 years (median 1.50).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | MADHAVIPL | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -3.7% | -2.8% | -0.9 pts |
| 1 month | -9.1% | -6.8% | -2.3 pts |
| 3 months | -13.7% | -7.6% | -6.1 pts |
| 3 years | -4.1% | +14.2% | -18.2 pts |
| 5 years | +80.5% | +27.9% | +52.6 pts |
Red flags
F-score 6 of 8| explain | Receivables outrunning sales Receivables grew 23% vs sales -18% in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹88 Cr +0.9% vs Jun 2025.
Net profit ₹6 Cr -16.4%.
Against our estimate for Jun 2026: sales +68.2%, profit +82.1% beat. Our estimate for Sep 2026: sales Rs 98 Cr, profit Rs 6 Cr (how).
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Larsen & Toubro Ltd | 515,837 | 29.3 | 14.6 % |
| Rail Vikas Nigam Ltd | 41,263 | 45.9 | 10.8 % |
| Kalpataru Projects International Ltd | 23,312 | 21.0 | 18.3 % |
| NBCC (India) Ltd | 21,063 | 30.8 | 29.3 % |
| Cemindia Projects Ltd | 21,015 | 34.9 | 32.8 % |
| IRB Infrastructure Developers Ltd | 20,508 | 20.8 | 7.47 % |
| Engineers India Ltd | 17,435 | 22.2 | 30.4 % |
| Central Mine Planning & Design Institute Ltd | 15,217 | 23.3 | 38.1 % |
| Techno Electric & Engineering Company Ltd | 11,748 | 22.8 | 15.2 % |
| Welspun Enterprises Ltd | 10,302 | 29.1 | 16.7 % |
| KEC International Ltd | 10,072 | 16.8 | 16.5 % |
| Ircon International Ltd | 9,637 | 18.4 | 9.27 % |
| Rites Ltd | 9,242 | 22.1 | 23.0 % |
| Afcons Infrastructure Ltd | 9,014 | 44.0 | 13.9 % |
| NCC Ltd | 8,053 | 11.2 | 16.8 % |
No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Madhav Infra Projects Ltd?
Madhav Infra Projects Ltd (MADHAVIPL) has a market capitalisation of Rs 197 Cr. at the 2026-10-01 close.
What is the P/E ratio of Madhav Infra Projects Ltd?
Madhav Infra Projects Ltd trades at a P/E of 7.52 on trailing twelve-month profit, at the 2026-10-01 close.
What were Madhav Infra Projects Ltd's latest quarterly results?
In the Jun 2026 quarter, Madhav Infra Projects Ltd sales was Rs 88 Cr (+0.9% vs Jun 2025) and net profit was Rs 6 Cr.
What is the 52-week high and low of Madhav Infra Projects Ltd?
The 52-week high is Rs 9.90 and the 52-week low is Rs 6.95.