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 | 257 | 276 | 421 | 236 | 190 | 111 | 139 | 157 | 129 | 139 | 126 | 50 |
| Expenses | 309 | 273 | 642 | 255 | 392 | 137 | 175 | 194 | 180 | 169 | 156 | 39 |
| Operating Profit | -52 | 3 | -221 | -18 | -202 | -26 | -36 | -36 | -51 | -30 | -30 | 11 |
| OPM % | -20% | 1.0% | -53% | -8% | -106% | -23% | -26% | -23% | -39% | -21% | -24% | 21% |
| Other Income | 44 | 1 | 237 | 26 | 205 | 67 | 37 | 47 | 54 | 51 | 48 | 6 |
| Interest | 3 | 8 | 27 | 4 | 3 | 5 | 27 | 6 | 6 | 6 | -18 | 0 |
| Depreciation | 9 | 12 | 2 | 10 | 12 | 484 | 26 | 131 | 131 | 131 | 131 | 1 |
| Profit before tax | -20 | -17 | -13 | -7 | -12 | -447 | -52 | -127 | -133 | -116 | -95 | 16 |
| Tax % | -5% | -13% | -46% | 57% | -55% | -0% | 18% | 0% | -2% | 0% | 1% | -11% |
| Net Profit | -19 | -14 | -7 | -10 | -5 | -446 | -61 | -127 | -131 | -116 | -96 | 17 |
| EPS in Rs | -2.42 | -1.69 | 0.65 | -1.30 | -0.61 | -57.22 | -5.27 | -15.97 | -16.36 | -14.45 | -13.46 | 2.23 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,599 | 1,576 | 1,035 | 942 | 734 | 909 | 948 | 1,162 | 1,164 | 677 | 552 | 444 |
| Expenses | 1,654 | 1,212 | 1,010 | 885 | 687 | 945 | 1,012 | 1,415 | 1,463 | 959 | 699 | 544 |
| Operating Profit | 945 | 365 | 26 | 57 | 47 | -36 | -63 | -253 | -299 | -282 | -147 | -100 |
| OPM % | 36% | 23% | 2.5% | 6% | 6% | -4.0% | -7% | -22% | -26% | -42% | -27% | -22% |
| Other Income | 101 | 25 | 48 | 41 | -924 | 135 | 127 | 902 | 301 | 335 | 200 | 159 |
| Interest | 748 | 751 | 835 | 279 | 150 | 246 | 31 | 47 | 41 | 39 | 1 | -5 |
| Depreciation | 222 | 269 | 249 | 224 | 72 | 129 | 141 | 799 | 32 | 531 | 523 | 393 |
| Profit before tax | 76 | -630 | -1,010 | -405 | -1,099 | -276 | -108 | -197 | -71 | -518 | -471 | -328 |
| Tax % | 68% | 2% | -4% | -6% | 1% | -5% | 17% | -10% | -14% | 1% | -0% | |
| Net Profit | 25 | -644 | -966 | -381 | -1,115 | -262 | -127 | -177 | -61 | -523 | -470 | -325 |
| EPS in Rs | 2.78 | -98.22 | -117.33 | -46.60 | -144.43 | -31.63 | -14.41 | -19.47 | -6.11 | -64.39 | -60.24 | -42.04 |
| 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 | -14% | -10% | -22% | -26% | ||
| Compounded Profit Growth | % | -38% | % | 47% | ||
| Stock Price CAGR | -21% | -3% | -9% | -51% | ||
| Return on Equity | % | % | % | % |
| 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 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 |
| Reserves | -322 | -296 | -829 | -1,775 | -2,130 | -2,438 | -1,892 | -2,095 | -1,927 | -1,510 | -1,475 | -1,886 |
| Borrowings | 6,453 | 6,729 | 6,748 | 6,994 | 7,070 | 4,446 | 4,241 | 4,178 | 4,011 | 3,913 | 3,554 | 3,657 |
| Other Liabilities | 2,067 | 2,013 | 2,303 | 2,665 | 2,758 | 2,951 | 2,978 | 3,413 | 2,019 | 1,802 | 1,526 | 1,357 |
| Total Liabilities | 8,205 | 8,454 | 8,229 | 7,892 | 7,705 | 4,966 | 5,335 | 5,503 | 4,110 | 4,213 | 3,612 | 3,135 |
| Fixed Assets | 5,575 | 5,289 | 4,791 | 4,552 | 4,336 | 1,236 | 749 | 677 | 53 | 169 | 124 | 83 |
| CWIP | 1,623 | 151 | 150 | 150 | 151 | 151 | 613 | 550 | 232 | 87 | 87 | 87 |
| Investments | 13 | 2 | 1 | 1 | 3 | 971 | 754 | 754 | 1 | 1 | 1 | 1 |
| Other Assets | 994 | 3,013 | 3,287 | 3,189 | 3,215 | 2,608 | 3,218 | 3,522 | 3,825 | 3,956 | 3,400 | 2,964 |
| Total Assets | 8,205 | 8,454 | 8,229 | 7,892 | 7,705 | 4,966 | 5,335 | 5,503 | 4,110 | 4,213 | 3,612 | 3,135 |
| 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 | 1,509 | -301 | 683 | 571 | 190 | -587 | -405 | 232 | -241 | -256 | 85 | 204 |
| Cash from Investing Activity | -1,366 | 466 | 107 | -2 | 3 | 2,843 | 839 | -158 | 949 | 467 | 51 | -445 |
| Cash from Financing Activity | -175 | -162 | -859 | -588 | -204 | -2,209 | -451 | -43 | -720 | -261 | -109 | 258 |
| Net Cash Flow | -32 | 2 | -68 | -20 | -11 | 47 | -16 | 30 | -13 | -49 | 27 | 18 |
| Free Cash Flow | 135 | 147 | 774 | 563 | 182 | 2,349 | -581 | 226 | -98 | -259 | -402 | -277 |
| CFO/OP | 240% | -25% | 203% | 2,237% | 390% | -1,252% | 1,272% | -215% | 96% | 86% | -30% | -139% |
| 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 | 26 | 57 | 49 | 11 | 14 | 58 | 2 | 6 | 2 | 11 | 3 | 4 |
| Inventory Days | 54 | 28 | 22 | 54 | 31 | 17 | 6 | 3 | 1 | 1 | 1 | 2 |
| Days Payable | 122 | 200 | 190 | 308 | 320 | 280 | 258 | 293 | 162 | 142 | 77 | 169 |
| Cash Conversion Cycle | -43 | -116 | -119 | -243 | -276 | -204 | -250 | -284 | -159 | -130 | -73 | -163 |
| Working Capital Days | -379 | -340 | -726 | -1,497 | -1,757 | -1,882 | -941 | -1,090 | -666 | -625 | -1,011 | -1,447 |
| ROCE % | 8% | 13% | 2% | -3% | -2% | 1% | -1% | -4% | -8% | -2% | -28% | -34% |
| 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 | 59.08% | 59.08% | 59.08% | 59.08% | 59.08% | 59.08% | 59.08% | 59.08% | 59.08% | 59.08% | 59.08% | 59.08% |
| FIIs | 0.03% | 0.03% | 0.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Public | 40.89% | 40.89% | 40.90% | 40.92% | 40.91% | 40.92% | 40.93% | 40.93% | 40.93% | 40.92% | 40.93% | 40.92% |
| No. of Shareholders | 19,395 | 19,688 | 19,714 | 19,615 | 20,606 | 20,510 | 20,643 | 20,667 | 20,435 | 20,219 | 20,067 | 19,924 |
Fundamentals
Market Cap₹ 30.6 Cr.
Current Price₹ 4.15
Book Value₹ -255
ROCE-34.0 %
ROE%
Dividend Yield0.00 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)-26%
Compounded Profit Growth (TTM)47%
Consolidated figures.
Valuation
Market capRs 29 Cr
Enterprise valueRs 3,602 Cr
Price to book-0.02x
Price to sales0.07x
EV / EBITDA61.04x
EV / sales8.10x
Price to cash flow0.14x
Earnings yield-1053.62%
P/B, 3-year average-0.04x
P/B, 5-year average-0.03x
Profitability
Operating margin (excl. other income)-26.64%
Operating margin (incl. other income)9.55%
EBITDA margin13.28%
Pre-tax margin-73.89%
Net profit margin-69.82%
Net margin, latest quarter32.88%
ROE26.56%
ROCE-24.33%
ROA-13.18%
ROE, 3-year average20.40%
ROCE, 3-year average-15.64%
ROA, 3-year average-8.80%
ROE, 5-year average14.74%
ROCE, 5-year average-11.52%
ROA, 5-year average-6.27%
ROIC (approx.)-19.66%
Tax rate0.19%
Other income / net worth-10.63%
Growth
Sales growth (latest year)-18.44%
Sales CAGR, 3 years-21.99%
Sales CAGR, 5 years-9.51%
Sales growth QoQ-60.29%
Sales growth YoY (latest quarter)-68.25%
Per share
EPS (TTM)Rs -42.04
EPS (latest quarter)Rs 2.22
EPS, 3-year averageRs -35.14
EPS, 5-year averageRs -26.01
Book value per shareRs -254.57
Sales per shareRs 60.21
Cash flow per shareRs 27.69
Free cash flow per shareRs -37.53
Efficiency
Asset turnover0.18x
Fixed asset turnover6.63x
Inventory turnover192.53x
Inventory days2 days
Debtor days4 days
Debtors turnover94.00x
Creditor days169 days
Cash conversion cycle-163 days
Working capital days-1447 days
Leverage
Total debtRs 3,657 Cr
Cash and bankRs 85 Cr
Net debtRs 3,572 Cr
Debt to equity-1.95x
Net debt / EBITDA60.54x
Owners' fund to total sources-59.94%
Debt to assets116.66%
Cash flow
Cash from Operating Activity (latest year)Rs 204 Cr
Cash from Investing Activity (latest year)Rs -445 Cr
Cash from Financing Activity (latest year)Rs 258 Cr
Net Cash Flow (latest year)Rs 18 Cr
Free cash flow (latest year)Rs -277 Cr
FCFE (approx.: FCF + change in debt)Rs -174 Cr
Sales to cash flow2.70x
Statement figures
Net sales (TTM)Rs 444 Cr
Net sales (latest year)Rs 552 Cr
Sales (latest quarter)Rs 50 Cr
Operating profit excl. other income (latest year)Rs -147 Cr
Operating profit (latest quarter)Rs 11 Cr
Other income (TTM)Rs 159 Cr
EBITDA (TTM)Rs 59 Cr
PBDT (TTM)Rs 64 Cr
Profit before tax (TTM)Rs -328 Cr
Tax (latest year)Rs -1 Cr
Net profit (TTM)Rs -310 Cr
Net profit (latest year)Rs -445 Cr
Net profit (latest quarter)Rs 16 Cr
Depreciation (TTM)Rs 393 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs -5 Cr
Cost of goods sold (latest year)Rs 333 Cr
Total expenditure (latest year)Rs 699 Cr
Total income (latest year)Rs 751 Cr
Share capitalRs 7 Cr
ReservesRs -1,886 Cr
Shareholders' fundsRs -1,879 Cr
Total assetsRs 3,135 Cr
Net blockRs 83 Cr
Capital work in progressRs 87 Cr
InvestmentsRs 1 Cr
ReceivablesRs 6 Cr
InventoryRs 2 Cr
Other liabilitiesRs 1,357 Cr
Shares outstanding (crore)7.38
Ownership
Promoter holding59.08% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | MADHUCON | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -6.1% | -2.8% | -3.3 pts |
| 1 month | -17.6% | -6.8% | -10.8 pts |
| 3 months | -34.7% | -7.6% | -27.1 pts |
| 6 months | +6.7% | +0.4% | +6.3 pts |
| 1 year | -47.6% | -9.9% | -37.7 pts |
| 2 years | -69.6% | -13.6% | -56.0 pts |
| 3 years | -25.4% | +14.2% | -39.6 pts |
| 5 years | -15.1% | +27.9% | -43.0 pts |
Red flags
F-score 4 of 8| serious | Negative equity Shareholders' equity is negative |
| look | Repeated losses Net loss in each of the last two years |
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 ₹50 Cr -68.2% vs Jun 2025.
Net profit ₹17 Cr +113.4%.
Against our estimate for Jun 2026: sales -70.5%, profit +112.2% beat. Our estimate for Sep 2026: sales Rs 79 Cr, profit Rs -63 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.
| Ex-date | Action | Factor |
|---|---|---|
| 2024-09-20 | Annual General Meeting | |
| 2023-09-22 | Annual General Meeting | |
| 2022-09-22 | Annual General Meeting | |
| 2021-09-22 | Annual General Meeting | |
| 2020-11-25 | Annual General Meeting | |
| 2019-09-17 | Annual General Meeting | |
| 2017-09-14 | Dividend - Re 0.10 Per Share | |
| 2016-09-15 | Annual General Meeting/Dividend Re 0.10 Per Share | |
| 2015-09-22 | Annual General Meeting/Dividend Re 0.10 Per Share | |
| 2014-09-19 | Annual General Meeting And Dividend Re.0.20 Per Share | |
| 2013-09-20 | Annual General Meeting / Dividend - Re 0.10/- Per Share | |
| 2012-09-21 | Annual General Meeting/Dividend Re 0.10 Per Share | |
| 2011-09-22 | Annual General Meeting And Dividend Re.0.25 Per Share | |
| 2010-09-23 | Annual General Meeting And Dividend Re.0.40 Per Share | |
| 2009-11-05 | Fv Split Rs.2/- To Re.1/ | 0.5000 |
| 2009-09-24 | Agm/Div-Re.0.80 Per Share | |
| 2008-09-24 | Agm/Dividend - 30% | |
| 2007-08-28 | Agm/Dividend-30% |
| Date | Type | What it says |
|---|---|---|
| 2026-10-01 | Shareholder meeting | Shareholders meeting Scrutinizers Report. |
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.
| Order date | Forum | Case |
|---|---|---|
| 2021-08-06 | NCLT | Srei Equipment Finance Ltd Vs Madhucon Projects Ltd Vs |
| 2021-07-30 | NCLT | Sri Balaji Associates Vs Madhucon Projects Ltd |
| 2021-07-30 | NCLT | K.Sai Mohan Reddy Vs Madhucon Projects Ltd Vs |
| 2021-07-30 | NCLT | Thermo Systems Pvt Ltd Vs Madhucon Projects Ltd Vs |
| 2021-02-10 | NCLT | K.Sai Mohan Reddy Vs Madhucon Projects Ltd Vs |
| 2021-02-10 | NCLT | State Bank of India Vs Madhucon Projects Ltd Vs |
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
EPS in the scrip is zero (4 trailing quarters)Less than 100 unique PAN traded in previous 30 days
Quick answers
What is the market cap of Madhucon Projects Ltd?
Madhucon Projects Ltd (MADHUCON) has a market capitalisation of Rs 30.6 Cr. at the 2026-10-01 close.
What were Madhucon Projects Ltd's latest quarterly results?
In the Jun 2026 quarter, Madhucon Projects Ltd sales was Rs 50 Cr (-68.2% vs Jun 2025) and net profit was Rs 17 Cr.
What is the 52-week high and low of Madhucon Projects Ltd?
The 52-week high is Rs 8.44 and the 52-week low is Rs 3.61.