As of 6 Nov 2026, Madhusudan Industries trades at 34.9× trailing earnings, above the industry P/E of 21.3×, and the shares are 29% below their 52-week high. Its ROCE of 0.9% is the second-lowest among the 7 largest Real Estate Services peers, and sales grew 4.8% a year over 3 years, though net profit is above operating profit, which points to a one-off gain. It is a small-cap company with a market cap of ₹19 Cr, ranked 50th of 64 Real Estate Services companies by market cap; the shares fell 8.3% over the past year.
- ₹35.91
- ₹35.91
- ₹35.60
- ₹34.85
- 141
Health check
- ReturnsIn line
−8.3% over a year, better than 4 of 7 peers.
- Price tagDistorted
A one-off gain inflates profit, so P/E isn’t comparable right now.
- GrowthSlow
Sales +4.8% a year over 3 years.
- ProfitabilityWeak
ROCE 0.9% vs peer median 7.6%.
- Balance sheetStretched
Piotroski 3 of 9.
- Red flags3 to check
Return on equity is low at −1.5%.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹19 Cr
- Small cap
- P/E
- 34.9
- Industry 21.3
- Price to book
- 0.70
- Peers 7.92
- Dividend yield
- 0.00%
- ROE
- −1.5%
- Peers 10.5%
- ROCE
- 0.9%
- Peers 7.6%
- Debt to equity
- n/a
- Debt ₹0.00 Cr
- EPS (TTM)
- ₹1.02
- OPM (TTM)
- −114.8%
- Net margin 40.6%
- Sales growth
- +5.2%
- Latest quarter vs a year ago
- Profit growth
- +42.5%
- Latest quarter vs a year ago
- Price to sales
- 14.22
- EV/EBITDA −6.6
Strengths and risks
Strengths
- Quarterly profit up 42.5% on a year ago.
Risks to check
- Return on equity is low at −1.5%.
- Net profit is above operating profit, so a one-off gain is likely flattering earnings.
- P/E of 34.9 against an industry P/E of 21.3.
About Madhusudan Industries
Madhusudan Industries Limited engages in the leasing of properties and the provision of ancilliary services. The company was incorporated in 1945 and is headquartered in Ahmedabad, India.
- Headquarters
- Ahmedabad
- Employees
- 5
- Sector
- Real Estate
- ISIN
- INE469C01023
- Website
- madhusudan-india.com
Price range
- Avg volume (3M)
- 1.2K
- 1-year return
- minus 8.3%
- From 52-week high
- minus 28.8%
Peers · Real Estate Services
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ABRELAditya Birla Real Estate | 1,068.40 | minus 1.99% | 11,853 | – | – | −5.2% | −3.6% | 0.79 | −52.6% | minus 41.3% |
| WEWORKWeWork India Management | 681.65 | plus 1.04% | 9,466 | 95.7 | 9.4 | 12.3% | 64.2% | 16.44 | – | plus 6.7% |
| SMARTWORKSSmartworks Coworking Spaces | 515.85 | plus 4.91% | 5,900 | 52.4 | 9.2 | 7.4% | 65.3% | 10.29 | 36.2% | minus 18.9% |
| NIRLONNirlon | 635.00 | minus 0.57% | 5,722 | 20.4 | 12.6 | 23.3% | 77.4% | 2.42 | 5.4% | plus 16.4% |
| INDIQUBEIndiqube Spaces | 184.32 | plus 2.39% | 3,908 | – | 9.9 | 5.5% | 60.8% | 10.12 | 35.8% | minus 15.3% |
| ELPROINTLElpro International | 169.55 | plus 0.26% | 2,874 | 22.3 | 50.5 | 7.6% | 36.2% | 0.60 | 58.2% | plus 60.9% |
| EFCILEFC (I) | 165.12 | plus 0.22% | 2,443 | 8.3 | 8.1 | 16.0% | 44.5% | 1.73 | 115.7% | minus 43.6% |
| MADHUDINMadhusudan Industries | 35.60 | plus 2.15% | 19 | 34.9 | 29.7 | 0.9% | −114.8% | – | 4.8% | minus 8.3% |
| Median of 7 peers | – | 0.26% | 5,722 | 22.3 | 9.6 | 7.6% | 60.8% | 2.42 | 36.0% | −15.3% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | |
| 0.2 | 0.2 | 0.3 | 2.1 | 0.2 | |
| 0.1 | 0.1 | 0 | −1.8 | 0.1 | |
| 29.7% | 37.2% | 3.2% | −530.1% | 30.2% | |
| 3 | −1 | −1.1 | 0.2 | 4.2 | |
| 0 | 0 | 0 | 0 | 0 | |
| 3 | −0.9 | −1.1 | −1.6 | 4.3 | |
| 25.1% | 25.8% | 24.6% | 25.2% | 25.2% | |
| 2.3 | −0.7 | −0.8 | −1.2 | 3.2 | |
| 4.22 | -1.27 | -1.52 | -2.20 | 6.01 |
Profit & loss
- Sales CAGR 3Y
- +4.8%
- ROE
- −1.5%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1.2 | 1.2 | 1.3 | 1.3 | |
| – | +5.1% | +4.5% | +4.6% | |
| 0.8 | 1.1 | 0.9 | 1 | |
| 0.4 | 0.1 | 0.3 | 0.3 | |
| 31.8% | 10.6% | 26.9% | 25.9% | |
| 0.6 | 3 | 0.9 | 1 | |
| 0.1 | 0.1 | 0.1 | 0.1 | |
| 2.6 | – | −1.7 | −1.8 | |
| 3.4 | 3.1 | −0.5 | −0.6 | |
| 28.8% | 24.2% | 25.4% | 25.3% | |
| 2.4 | 2.3 | −0.4 | −0.4 | |
| – | minus 3.6% | minus 116.9% | – | |
| 4.48 | 4.32 | -0.73 | -0.78 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 2.7 | 2.7 | 2.7 | 2.7 | |
| 23.3 | 25.6 | 25.2 | 24.7 | |
| 3.2 | 3.7 | 3.4 | 3 | |
| 29.2 | 32 | 31.2 | 30.4 | |
| 1.9 | 1.8 | 1.7 | 1.6 | |
| 12.6 | 14.9 | 12.7 | 13.9 | |
| 11.2 | 14.1 | 16.6 | 14.2 | |
| 3.6 | 1.1 | 0.3 | 0.6 | |
| 29.2 | 32 | 31.2 | 30.4 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −1.4 | −0.3 | −0.7 | −0.6 | |
| 1.3 | 0.8 | 0.6 | 0.6 | |
| −0 | 0.5 | −0.1 | 0 | |
| −0 | – | −0 | −0 | |
| −1.4 | −0.3 | −0.7 | −0.6 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
No recent news coverage found.