As of 6 Nov 2026, Madhucon Projects is loss-making on a trailing 12-month basis, with a net loss of ₹310 Cr, so it has no P/E ratio. The share price is ₹3.99, 47% below its 52-week high. Sales fell 21% a year over 3 years. Its net worth is negative, as liabilities exceed assets, and borrowings are ₹3,657 Cr. It is a small-cap company with a market cap of ₹29 Cr, ranked 140th of 156 Engineering & Construction companies by market cap; the shares fell 45% over the past year.
- ₹4.10
- ₹4.10
- ₹3.94
- ₹3.99
- 10.6K
Health check
- ReturnsBehind
−45.0% over a year, better than 0 of 7 peers.
- Price tagNegative equity
Book value is below zero, so P/E and P/B mislead here.
- GrowthShrinking
Sales −21.3% a year over 3 years.
- ProfitabilityDistorted
With negative net worth, return ratios are meaningless.
- Balance sheetStretched
Negative net worth: liabilities exceed assets.
- Red flags4 to check
Loss-making over the last twelve months.
Small cap
Defensive
Key metrics
- Market cap
- ₹29 Cr
- Small cap
- P/E
- n/a
- Industry 16.4
- Price to book
- −0.02
- Peers 4.92
- Dividend yield
- 0.00%
- ROE
- n/a
- Peers 17.9%
- ROCE
- n/a
- Peers 19.9%
- Debt to equity
- n/a
- Debt ₹3,657 Cr
- EPS (TTM)
- −₹42.05
- Face value ₹1
- OPM (TTM)
- −22.5%
- Net margin −69.8%
- Sales growth
- −68.2%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.07
- EV/EBITDA 107.4
Strengths and risks
Risks to check
- Loss-making over the last twelve months.
- Negative net worth: liabilities exceed assets.
- Quarterly sales down 68.2% on a year ago.
- 47% below its 52-week high.
About Madhucon Projects
Madhucon Projects Limited, together with its subsidiaries, operates as an integrated construction, infrastructure development, and management company in India. The company engages in the development and execution of engineering, procurement, and construction, as well as undertakes turnkey projects in various sectors, such as transportation projects, including highways, tunnels, railways, flyovers, etc.; irrigation projects, such as canals, dams, tunnels,…
- Headquarters
- Hyderabad
- Sector
- Industrials
- ISIN
- INE378D01032
- Website
- madhucon.com
Price range
- Avg volume (3M)
- 24K
- 1-year return
- minus 45.0%
- From 52-week high
- minus 46.9%
Peers · Engineering & Construction
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| LTLarsen & Toubro | 4,117.70 | plus 1.67% | 5,66,549 | 31.7 | 19.6 | 14.6% | 9.6% | 1.05 | 16.1% | plus 3.2% |
| RVNLRail Vikas Nigam | 193.34 | minus 0.18% | 40,312 | 44.9 | 56.9 | 11.0% | 4.3% | 0.49 | 0.2% | minus 40.5% |
| CEMPROCemindia Projects | 1,323.30 | plus 2.79% | 24,405 | 36.4 | 24.2 | 37.1% | 10.4% | 0.35 | 25.5% | plus 49.2% |
| KPILKalpataru Projects International | 1,370.80 | minus 0.04% | 23,410 | 19.7 | 10.1 | 19.9% | 8.3% | 0.46 | 18.4% | plus 4.3% |
| NBCCNBCC (India) | 78.00 | minus 2.90% | 21,060 | 26.5 | 19.8 | 34.3% | 6.1% | 0.00 | 12.9% | minus 29.5% |
| ENGINERSINEngineers India | 292.70 | minus 1.94% | 16,451 | 18.3 | 21.5 | 28.1% | 21.2% | 0.00 | 5.7% | plus 51.1% |
| WABAGVA Tech Wabag | 1,988.20 | plus 6.57% | 12,434 | 29.4 | 20.8 | 16.3% | 10.9% | 0.09 | 9.9% | plus 33.2% |
| MADHUCONMadhucon Projects | 3.99 | 0.00% | 29 | – | – | – | −22.5% | – | −21.3% | minus 45.0% |
| Median of 7 peers | – | −0.04% | 23,410 | 29.4 | 20.8 | 19.9% | 9.6% | 0.35 | 12.9% | 4.3% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 157 | 129 | 139 | 126 | 49.9 | |
| 194 | 180 | 169 | 156 | 39.4 | |
| −36.5 | −50.7 | −29.6 | −30.1 | 10.6 | |
| −23.2% | −39.2% | −21.3% | −24.0% | 21.2% | |
| 46.7 | 54 | 51.2 | 65.7 | 6 | |
| 6.4 | 5.7 | 6.4 | – | 0.5 | |
| 131 | 131 | 131 | 131 | 0.5 | |
| −127 | −133 | −116 | −95.1 | 15.5 | |
| −0.2% | 1.9% | −0.3% | −1.1% | −11.1% | |
| −118 | −121 | −107 | −99.3 | 16.4 | |
| -15.97 | -16.36 | -14.45 | -13.46 | 2.22 |
Profit & loss
- Sales CAGR 3Y
- −21.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,124 | 1,157 | 662 | 548 | |
| – | +3.0% | minus 42.8% | minus 17.1% | |
| 1,041 | 1,050 | 607 | 694 | |
| 82.9 | 107 | 54.3 | −145 | |
| 7.4% | 9.2% | 8.2% | −26.5% | |
| 890 | 296 | 329 | 197 | |
| 47 | 39 | 34.9 | – | |
| 799 | 31.8 | 531 | 523 | |
| −324 | −403 | −335 | – | |
| −197 | −70.9 | −518 | −471 | |
| 10.1% | 14.3% | −1.1% | 0.2% | |
| −144 | −45.1 | −475 | −445 | |
| -19.47 | -6.11 | -64.40 | -60.24 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 7.4 | 7.4 | 7.4 | 7.4 | |
| −1,927 | −1,510 | −1,475 | −1,886 | |
| 3,219 | 3,913 | 3,554 | 3,657 | |
| 2,810 | 1,802 | 1,526 | 1,357 | |
| 4,110 | 4,213 | 3,612 | 3,135 | |
| 140 | 136 | 128 | 123 | |
| 156 | 156 | 156 | 156 | |
| 1,133 | 0.5 | 0.5 | 0.5 | |
| 2,050 | 32.9 | 59.7 | 77.8 | |
| 632 | 3,887 | 3,267 | 2,778 | |
| 4,110 | 4,213 | 3,612 | 3,135 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −241 | −256 | 84.7 | 204 | |
| 949 | 467 | 45.2 | −445 | |
| −720 | −261 | −109 | 258 | |
| −12.6 | −49.3 | 20.8 | 18 | |
| – | −3.4 | −487 | −482 | |
| −241 | −259 | −402 | −277 |
Shareholding pattern
- Promoters59.08%
- Public40.92%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 59.08% | 40.92% | 0.00 | |
| 30 Jun 2026 | 59.08% | 40.92% | 0.00 | |
| 31 Mar 2026 | 59.08% | 40.92% | 0.00 | |
| 31 Dec 2025 | 59.08% | 40.92% | 0.00 | |
| 30 Sep 2025 | 59.08% | 40.92% | – |
Major shareholders
Filings & events
News
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