Madhucon Projects Ltd.
NSE: MADHUCON · Civil Construction · sector
₹4.02NSE close 2026-10-26
Key numbers
Market cap₹30 cr
Price₹4.02
52w high / low₹8 / ₹4
P/E–Sector median 12.2x
P/B–Sector median 1.3x
Book value₹-254.6
Dividend yield–Sector median 0.76%
ROE–Sector median 10.2%
ROCE-18.8%Sector median 12.9%
OPM-22.5%Sector median 10.7%
Debt / equity–Sector median 0.36x
EV/EBITDA–Sector median 8.8x
Interest cover63.5x
Current ratio0.39x
Sales growth 3y-22.0%Sector median +6.7%
Profit growth 3y–Sector median +5.8%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 119 companies in Civil Construction (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹85 cr vs borrowings ₹3,657 cr (FY26): borrowings are higher by ₹3,572 cr.
- Operating profit covered interest 63.5x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 2 of the last 5 years (FY24, FY23).
- Net loss in 7 of the last 8 quarters.
- Revenue was higher than a year earlier in 1 of the last 4 quarters.
- No dividend in the last 5 financial years.
- Price ₹4.02 on 2026-10-26: -48.3% from the 52-week high, +12.6% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹13.18 · low ₹3.88
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 190 | 111 | 139 | 157 | 129 | 139 | 126 | 50 |
| EBITDA | -202 | -26 | -36 | -36 | -51 | -30 | -30 | 11 |
| OPM % | -106.4% | -23.0% | -26.2% | -23.2% | -39.2% | -21.3% | -24.0% | 21.1% |
| Other income | 205 | 67 | 37 | 47 | 54 | 51 | 48 | 6 |
| Net profit | -5 | -422 | -39 | -118 | -121 | -107 | -99 | 16 |
| EPS (₹) | -0.61 | -57.22 | -5.27 | -15.97 | -16.36 | -14.45 | -13.46 | 2.22 |
| Revenue YoY | -31.9% | +25.0% | -9.4% | -68.2% | ||||
| Profit YoY | – | – | – | – |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 948 | 1,162 | 1,164 | 677 | 552 | 444 |
| EBITDA | -54 | -253 | -299 | -282 | -147 | -100 |
| Net profit | -106 | -144 | -45 | -475 | -445 | -310 |
| EPS (₹) | -14.41 | -19.47 | -6.11 | -64.40 | -60.24 | -42.05 |
| Revenue growth | +22.6% | +0.1% | -41.9% | -18.4% | -25.6% | |
| Profit growth | – | – | – | – | – | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -22.0% | -9.5% | -25.6% |
| Net profit | – | – | – |
| EPS | – | – | – |
| Share price | – | -42.1% (2y) | -47.8% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | -1,920 | -1,503 | -1,468 | -1,879 |
| Borrowings | – | 3,219 | 3,813 | 3,554 | 3,657 |
| Cash & equivalents | – | 82 | 39 | 66 | 85 |
| Total assets | – | 4,110 | 4,213 | 3,612 | 3,135 |
| Fixed assets | – | 53 | 49 | 41 | 36 |
| Capital work in progress | – | 87 | 87 | 87 | 87 |
| Investments | – | 1 | 1 | 1 | 1 |
| Receivables | – | 5 | 36 | 5 | 6 |
| Inventory | – | 4 | 2 | 2 | 2 |
| Payables | – | 457 | 369 | 114 | 154 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 244 | -241 | -250 | 85 | 204 |
| Cash from investing | -158 | 949 | 467 | 45 | -445 |
| Cash from financing | -56 | -720 | -261 | -109 | 258 |
| Capex | 6 | 144 | 3 | 0 | 0 |
| Free cash flow | 239 | -385 | -253 | 85 | 204 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 7.5% | 3.0% | 32.4% | 23.7% |
| ROCE % | – | -11.5% | -1.3% | -22.9% | -26.4% |
| Debtor days | – | 2 | 11 | 3 | 4 |
| Inventory days | – | 1 | 1 | 1 | 2 |
| Payable days | – | 162 | 142 | 77 | 169 |
| Cash conversion cycle (days) | – | -159 | -130 | -73 | -163 |
| Working capital days | – | -773 | -613 | -976 | -1,391 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 59.08% |
| Public (non-institutions) | 40.92% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 59.08% | 59.08% | 59.08% | 59.08% | 59.08% | 59.08% | 59.08% | 59.08% |
| Promoter group | % |
|---|---|
| Nama Nageswar RAO | 14.54% |
| Madhucon Granites Limited | 10.90% |
| Nama Chinnamma | 8.34% |
| Nama Investments Limited | 4.94% |
| Tarun Nama | 4.17% |
| Nama Rushika | 4.05% |
| Tulasamma Mallampati | 1.75% |
| Nama Heman | 1.50% |
| Umadevi Nama | 1.50% |
| Prithviteja Nama | 1.42% |
| Srinivasarao Kamma | 1.40% |
| NNR Infra Investments Private Limited | 0.99% |
| Dhanalakshmi Kamma | 0.91% |
| Bhavyateja Nama | 0.90% |
| Ramarao Nama | 0.69% |
| Public holders above 1% | % |
|---|---|
| Chandra Singh Lodha | 2.83% |
| Dinesh Chand Agrawal | 1.74% |
19,731 shareholders. Pledged: 0.00% of promoter shares.
Peers in Civil Construction
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| LT | ₹5,06,276 cr | 30.5x | 4.6x | 16.7% | 12.8% | 9.4% | +22.2% | 0.92% |
| RVNL | ₹38,083 cr | 42.4x | 3.9x | 9.3% | 10.5% | 4.3% | +0.2% | 1.51% |
| KPIL | ₹22,134 cr | 19.5x | 2.8x | 15.9% | 17.7% | 8.4% | +18.4% | 0.69% |
| IRB | ₹19,639 cr | 20.6x | 0.9x | 4.7% | 7.6% | 53.9% | +6.1% | 0.65% |
| CEMPRO | ₹19,444 cr | 32.3x | 8.1x | 28.4% | 32.3% | 10.4% | +25.5% | 0.18% |
| NBCC | ₹18,536 cr | 25.1x | 6.1x | 27.0% | 33.9% | 5.8% | +13.8% | 1.08% |
| ENGINERSIN | ₹13,725 cr | 17.5x | 4.4x | 27.0% | 28.8% | 19.4% | +5.7% | 1.84% |
| TECHNOE | ₹9,612 cr | 22.3x | 2.3x | 10.9% | 13.7% | 14.0% | +57.7% | 1.09% |
| IRCON | ₹9,177 cr | 17.5x | 1.4x | 8.1% | 8.2% | 8.3% | -4.4% | 2.25% |
| MADHUCON | ₹30 cr | – | – | – | -18.8% | -22.5% | -22.0% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-09-20 | Other | Annual General Meeting |
| 2023-09-22 | Other | Annual General Meeting |
| 2022-09-22 | Other | Annual General Meeting |
| 2021-09-22 | Other | Annual General Meeting |
| 2020-11-25 | Other | Annual General Meeting |
| 2019-09-17 | Other | Annual General Meeting |
| 2017-09-14 | Dividend | Dividend - Re 0.10 Per Share |
| 2016-09-15 | Dividend | Annual General Meeting/Dividend Re 0.10 Per Share |
| 2015-09-22 | Dividend | Annual General Meeting/Dividend Re 0.10 Per Share |
| 2014-09-19 | Dividend | Annual General Meeting And Dividend Re.0.20 Per Share |
| 2013-09-20 | Dividend | Annual General Meeting / Dividend - Re 0.10/- Per Share |
| 2012-09-21 | Dividend | Annual General Meeting/Dividend Re 0.10 Per Share |
| 2011-09-22 | Dividend | Annual General Meeting And Dividend Re.0.25 Per Share |
| 2010-09-23 | Dividend | Annual General Meeting And Dividend Re.0.40 Per Share |
| 2009-11-05 | Split | Fv Split Rs.2/- To Re.1/ |
| 2009-09-24 | Other | Agm/Div-Re.0.80 Per Share |
| 2008-09-24 | Dividend | Agm/Dividend - 30% |
| 2007-08-28 | Dividend | Agm/Dividend-30% |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Industrials |
| Industry | Civil Construction |
| Sub-industry | Civil Construction |
| Symbol | MADHUCON |
| BSE code | 531497 |
| ISIN | INE378D01032 |
| Face value | ₹1.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.