1. India Stocks

  2. •

    Utilities

  3. •

    Electric utilities
Madhav Infra Projects Ltd.

Madhav Infra Projects Ltd.

7.03
INR
-0.03
(-0.42%)
0.96EPS
8.81P/E
2.31BMarket Cap
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
5.12
10.75
10.44
15.58
15.06
12.71
7.94
14.63
17.96
19.14
17.19
22.78
18.75
18.7
Basic EPS, GAAP
0.2
0.34
0.38
0.42
0.3
0.2
0.15
-0.67
0.24
1.27
0.81
0.97
1.02
0.97
Free Cash Flow per Basic Share
0.16
-1.26
-9.81
0.56
1.21
1.14
-0.39
3.95
-0.35
0.23
2.11
2.42
0.97
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
1.83
2.17
2.68
3.1
2.91
2.96
3.53
3.06
3.8
6.18
6.99
7.89
8.89
- -
Tangible Book Value per Share
1.83
1.19
-6.89
-5.81
-5.19
2.32
2.92
1.83
3.08
4.45
5.24
6.23
6.1
- -
Basic Weighted Avg Shares
256
253
256
256
256
256
256
187
256
268
268
268
268
269
Sales/Revenue/Turnover
1,311
2,717
2,676
3,991
3,859
3,257
2,035
2,739
4,601
5,127
4,604
6,102
5,021
5,030
Operating Margin (%)
11.1
7.14
19.36
16.26
13.88
13.01
10.48
5.11
7.68
8.67
9.39
8.74
10.51
10.22
Depreciation Expense
50
111
287
546
520
297
239
210
157
132
158
153
135
134
Net Income, GAAP
51
85
98
107
78
51
37
-125
62
339
217
259
274
262
Effective Tax Rate (%)
25.52
31.27
33.24
22.91
- -
20.17
73.63
- -
29.41
23.81
10.4
17.81
23.72
25.81
Profit Margin (%)
3.87
3.13
3.65
2.68
2.02
1.58
1.83
-4.58
1.36
6.62
4.71
4.24
5.46
5.21
Working Capital
313
524
105
413
501
875
980
1,088
1,829
1,314
1,515
1,310
1,521
- -
LT Debt
219
1,088
3,152
3,451
3,660
2,014
1,851
1,722
1,609
1,425
1,201
951
1,026
- -
Total Equity
468
781
1,047
1,370
1,411
1,289
1,432
1,312
1,368
1,704
1,914
2,140
2,406
- -
Return on Invested Capital (%)
4.98
5.25
2.79
1.96
- -
6.54
1.32
- -
6.85
14.62
10.74
12.08
10.79
- -
Return on Capital (%)
8
7.83
8.78
9.2
- -
5.96
2.69
- -
5.91
12.42
9.66
10.48
9.8
- -
Return on Common Equity (%)
11.2
16.6
15.73
14.48
10.14
6.84
4.47
-14.85
7.1
25.7
12.21
12.89
12.12
- -

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
627
- -
LT Borrowings
- -
1,026
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
270
270
270
Market Capitalization
3,038
1,892
2,313

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
4,024
- -
Cash, Cash Equivalents & STI
- -
1,767
- -
Accounts Receivable, Net
- -
1,804
- -
Inventories
- -
723
- -
Total Current Liabilities
- -
2,503
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
627
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.33%
13.07%
12.4%
Free Cash Flow
-49.91%
95.4%
-59.91%
Net Income, GAAP
-23.27%
56.69%
6%
Sales/Revenue/Turnover
11.13%
16.81%
-17.72%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
679
868
1,473
3,083
6,102
2026
875
1,068
537
2,541
5,021
2027
884
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
0.25
0.16
0.1
0.45
0.97
2026
0.28
0.46
-0.16
0.43
1.02
2027
0.23
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
2027
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Amit Ashok Khurana
Full Time Employees
175
Sector
Utilities
Industry
Electric utilities
Address
Madhav House, Plot No. 04 Vadodara GU India 390023
IPO Date
May 24, 2016
Website
madhavcorp.com
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Business
Madhav Infra Projects Limited Madhav Infra Projects Limited operates as an engineering, procurement, and construction contractor focused on infrastructure development, including highways, urban infrastructure, real estate, energy projects, transport infrastructure EPC services, sustainable energy infrastructure, and rail logistics infrastructure projects. The company provides detailed services such as road and highway construction, bridge building, tunnel construction, solar power plant installation and maintenance, rooftop solar systems, hybrid energy systems, solar photovoltaic grid-connected power plants, and operation and maintenance of infrastructure assets; it also engages in power generation through solar and hydro sources. Subsidiaries including MI Solar (I) Private Limited handle renewable energy generation, trading, and transmission, while others like Badi Baktara Toll Private Limited, Khalghat Manawar Toll Private Limited, and Madhav (Aaron Sindh Road) Private Limited manage specific toll road developments. Founded in 1992 and headquartered in Vadodara, Gujarat, India, Madhav Infra Projects Limited conducts operations across India, targeting government entities like the National Highways Authority of India and state authorities in regions such as Madhya Pradesh and Maharashtra. Recent developments include the April 2025 acquisition of a 100% equity stake in MSK Projects (I) Private Limited for Rs 20,000 to support execution of a Rs 323.82 crore four-lane highway project from Rahatgarh to Berkhedi in Madhya Pradesh under the Hybrid Annuity Mode; the company also secured letters of acceptance for solar power projects up to 100 MW across Maharashtra substations and continued implementation of railway overbridges, rooftop solar initiatives at MIDC sites, and various state highway bridges in 2024 and 2025.