Madhav Infra Projects quarterly results and financials

Madhav Infra Projects (MADHAVIPL)₹6.87−1.01%(9 Nov 2026 close)Civil Construction

Key facts

In the Sep 2026 quarter (consolidated), Madhav Infra Projects reported sales of ₹134 Cr, up 24.8% from Sep 2025, and net profit of ₹3.68 Cr, down 70.5% year on year. For the year to Mar 2026, sales were ₹503 Cr and net profit ₹27.01 Cr.

Sales (Sep 2026): ₹134 Cr
Net profit (Sep 2026): ₹3.68 Cr
Sales (FY Mar 2026): ₹503 Cr
Net profit (FY Mar 2026): ₹27.01 Cr
EPS (Sep 2026): ₹0.14
Borrowings (Mar 2026): ₹166 Cr

Company filings, consolidated accounts; latest reported quarter Sep 2026

Madhav Infra Projects quarterly results

₹ crore unless stated; each column is a quarter.

Madhav Infra Projects Quarterly results
	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Sales	87.91	151	68.01	86.95	148	309	87.79	107	53.79	255	88.53	134
Expenses	71.58	142	51.44	74.13	132	286	70.48	90.67	49.03	233	73.02	123
Operating Profit	16.23	9.19	16.54	12.70	15.14	22.44	17.09	16.28	4.68	20.78	15.46	10.75
OPM %	18.6%	6.1%	24.4%	14.7%	10.4%	7.3%	19.6%	15.3%	8.8%	8.3%	17.6%	8.1%
Other Income	0.80	1.67	0.90	2.17	0.87	2.39	2.98	8.41	1.87	2.38	1.77	2.01
Interest	5.99	5.21	6.00	6.46	7.83	7.37	7.73	7.56	6.91	3.14	5.67	4.49
Depreciation	3.97	4.29	3.30	3.32	4.58	4.06	3.36	3.32	3.32	3.49	3.21	3.38
Profit before tax	7.02	1.35	8.13	5.08	3.57	13.39	8.97	13.77	−3.65	16.49	8.31	4.86
Tax %	21.7%	−99.2%	17.8%	17.9%	30.0%	14.7%	16.7%	9.8%	16.5%	30.4%	24.9%	24.1%
Net Profit	4.61	2.77	6.79	4.19	2.50	11.42	7.49	12.47	−4.25	11.51	6.24	3.68
EPS (Rs)	0.12	0.09	0.24	0.14	0.09	0.44	0.27	0.46	−0.15	0.42	0.22	0.14

Madhav Infra Projects profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

Madhav Infra Projects Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	259	400	386	327	204	275	461	514	461	611	503	531
Expenses	178	279	280	254	158	239	409	455	402	543	436	478
Operating Profit	79.98	120	106	72.07	44.99	35.01	51.04	58.01	58.01	67.01	65.99	51.67
OPM %	31.1%	30.1%	27.1%	22.1%	22.1%	13.1%	11.1%	11.1%	13.1%	11.1%	13.1%	9.7%
Other Income	1.99	3.99	13.99	2.99	28.97	3.01	3.01	28.99	5.99	5.99	8.01	8.03
Interest	40.03	53.99	58.99	38.99	33.99	32.02	27.99	24.98	24.01	28.01	24.99	20.21
Depreciation	28.90	54.86	51.81	29.90	23.92	20.93	15.94	12.97	15.96	14.96	13.96	13.40
Profit before tax	14.98	13.97	7.99	5.99	15.97	−14.99	8.98	47.89	24.98	29.97	35.95	26.01
Tax %	33.1%	23.1%	−1.0%	20.0%	74.1%	−20.0%	29.0%	24.1%	10.1%	18.0%	24.0%	—
Exceptional items	0.00	0.00	0.29	0.29	−0.05	−0.08	0.26	18.94	0.15	0.95	2.91	—
Net Profit	9.99	10.99	7.99	5.01	3.01	−12.99	5.99	35.98	23.01	24.99	27.01	17.18
EPS (Rs)	0.37	0.41	0.29	0.19	0.14	−0.48	0.23	1.25	0.79	0.91	1.00	0.63
Dividend payout %	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—

Madhav Infra Projects balance sheet

₹ crore, at each year end.

Madhav Infra Projects Balance sheet
	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	6.01	6.02	6.02	6.02	6.01	6.01	26.06	26.09	27.07	27.06	27.10	27.10
Reserves	48.93	59.09	73.15	68.08	70.07	84.01	52.95	72.11	140	162	186	213
Borrowings	150	417	481	523	345	336	304	256	207	153	161	166
Other Liabilities	151	76.37	127	145	148	70.35	125	141	201	160	275	202
Total Liabilities	357	559	686	743	570	496	507	494	575	502	649	608
Fixed Assets	69.19	394	401	386	209	176	186	96.30	132	127	121	150
CWIP	0.00	0.00	3.01	25.05	0.00	0.00	0.00	0.00	7.02	3.01	3.01	0.00
Investments	97.61	23.91	29.89	30.89	30.89	37.84	31.86	29.88	30.88	20.93	20.93	20.91
Other Assets	190	141	253	301	330	283	291	367	405	350	503	438
Inventories	47.78	8.97	58.73	81.70	91.69	83.70	67.78	104	94.66	95.62	97.57	71.66
Trade receivables	7.03	50.18	58.16	69.22	110	83.25	85.24	113	165	99.26	89.25	109
Cash & equivalents	47.02	58.07	56.05	69.11	42.08	24.01	43.04	47.04	56.02	51.04	97.10	86.16
Total Assets	357	559	686	743	570	496	507	494	575	502	649	608

Madhav Infra Projects cash flow

₹ crore, for each year.

Madhav Infra Projects Cash flow
	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	4.01	102	79.15	101	29.03	2.01	100	−8.01	73.04	65.05	75.12	32.04
Cash from investing activity	−30.89	−276	−78.77	−65.81	155	0.99	−41.86	65.80	−17.95	−3.98	−24.93	−30.91
Cash from financing activity	35.08	187	−2.01	−21.06	−213	−20.05	−73.26	−64.20	−33.10	−79.24	−27.09	−20.05
Net cash flow	8.01	11.02	−2.01	13.03	−27.08	−18.04	−14.04	−6.02	22.06	−17.05	23.04	−19.04
Capex	35.48	352	63.87	69.38	0.00	7.96	26.15	1.02	66.83	7.96	9.98	6.24
Free cash flow	−31.98	−251	13.98	30.99	236	−5.99	73.92	52.01	34.98	56.99	66.91	31.98
CFO / OP %	28.0%	129.9%	68.9%	100.0%	47.0%	−1.0%	269.0%	2.0%	118.9%	127.0%	127.0%	63.9%

Madhav Infra Projects ratios

Working-capital days and returns, by year.

Madhav Infra Projects Ratios
	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 %	—	15.0%	12.9%	11.0%	9.0%	12.0%	4.0%	10.0%	12.9%	13.0%	16.0%	15.0%

Madhav Infra Projects: frequently asked questions

What are the latest quarterly results of Madhav Infra Projects?

For the Sep 2026 quarter, Madhav Infra Projects reported sales of ₹134 Cr, up 24.8% year on year and net profit of ₹3.68 Cr, down 70.5% year on year. The operating margin was 8.1%.

What is the annual revenue of Madhav Infra Projects?

Madhav Infra Projects' sales for the year to Mar 2026 were ₹503 Cr; over the last twelve months they were ₹531 Cr.

What is the net profit of Madhav Infra Projects?

Net profit for the year to Mar 2026 was ₹27.01 Cr, and ₹17.18 Cr over the last twelve months. Earnings per share over the same trailing period were ₹0.63.

How much debt does Madhav Infra Projects have?

Madhav Infra Projects reported borrowings of ₹166 Cr at Mar 2026, against cash and equivalents of ₹86.16 Cr.

What is the free cash flow of Madhav Infra Projects?

Cash from operations was ₹32.04 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹31.98 Cr.

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