Madhav Infra Projects
- Market cap
- ₹ 188 Cr.
- P/E
- 10.6x
- P/B
- 0.79x
- 52-week range
- 6.51 – 9.9
- ROE
- 12%
- ROCE
- 16%
- Dividend yield
- 0%
- Debt / equity
- 0.69
- Sector
- Construction
- Industry
- Civil Construction
- Listed on
- NSE, BSE
About
Madhav Infra Projects Limited is an India-based engineering, procurement, and construction (EPC) contractor and developer. The Company is engaged in the development, construction, as well as operation and maintenance of infrastructure projects. The Company also engaged in the business of power generation business, including solar and hydro. The Company undertakes infrastructure development projects directly or indirectly through Special Purpose Vehicle. The Company’s subsidiaries are involved in the business of developing the infrastructure and renewables at pan India. The Company is also building, developing, and maintaining highways, bridges and roads. The Company, through its subsidiary, MI Solar (I) Private Limited, is engaged in the business of renewable energy through solar generation, trading and transmitting. Its subsidiaries also include Madhav (Aaron Sindh Road) Private Limited, Badi Baktara Toll Private Limited, and MI Solar (India) Private Limited.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Civil Construction: 182 companies →Madhav Infra Projects against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)10.6 against a typical 14.4: cheaper than most peers (1st = cheapest).60th of 181
- Sales growth+0.9% against a typical +8.6% from a year earlier.93rd of 147
- Profit growth−16.4% against a typical 0% from a year earlier.79th of 130
- Share price, 3 months−14.4% against a typical −13.1%.87th of 164
- Size₹ 188.5 Cr. market value against a typical ₹ 148 Cr. (1st = largest).73rd of 156
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Moderate safety, with caution
Rated BBB by CARE- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CARE | CARE BBB | Stable | 8 Oct 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 8 Oct 2026 | Reaffirmed | CARE BBB | — | CARE | ₹ 531.99 Cr. | |
| 18 Aug 2025 | Reaffirmed | CARE BBB | — | CARE | ₹ 535.25 Cr. |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 98 | 88 | 151 | 68 | 87 | 147 | 308 | 88 | 107 | 54 | 254 | 88 |
| Expenses | 83 | 72 | 142 | 51 | 74 | 132 | 286 | 70 | 91 | 49 | 233 | 73 |
| Operating Profit | 14 | 16 | 9 | 17 | 13 | 15 | 22 | 17 | 16 | 5 | 21 | 15 |
| OPM % | 14.5% | 18.5% | 6.1% | 24.4% | 14.6% | 10.3% | 7.3% | 19.5% | 15.2% | 8.7% | 8.2% | 17.5% |
| Other Income | 3 | 1 | 2 | 1 | 2 | 1 | 2 | 3 | 8 | 2 | 2 | 2 |
| Interest | 6 | 6 | 5 | 6 | 6 | 8 | 7 | 8 | 8 | 7 | 3 | 6 |
| Depreciation | 4 | 4 | 4 | 3 | 3 | 5 | 4 | 3 | 3 | 3 | 4 | 3 |
| Profit before tax | 7 | 7 | 1 | 8 | 5 | 4 | 13 | 9 | 14 | −4 | 17 | 8 |
| Tax % | 11.3% | 21.6% | −99.3% | 17.8% | 17.9% | 29.9% | 14.7% | 16.7% | 9.7% | 16.4% | 30.4% | 24.9% |
| Net Profit | 8 | 5 | 3 | 7 | 4 | 3 | 11 | 7 | 12 | −4 | 12 | 6 |
| EPS in Rs | 0.26 | 0.13 | 0.1 | 0.25 | 0.15 | 0.1 | 0.45 | 0.28 | 0.47 | −0.16 | 0.43 | 0.23 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 7%
- 5 Years
- 13%
- 3 Years
- −1%
- TTM
- −20%
- 10 Years
- 11%
- 5 Years
- 33%
- 3 Years
- 20%
- TTM
- −1%
- 10 Years
- —
- 5 Years
- 8%
- 3 Years
- 7%
- TTM
- —
- 10 Years
- 9%
- 5 Years
- 12%
- 3 Years
- 12%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Madhav Infra Projects | ₹ 6.91 | ₹ 188 Cr. | 10.6x | 0.8x | 12% | — |
| DLF | ₹ 653.55 | ₹ 1,61,774 Cr. | 39x | 3.6x | 10% | 32% |
| Lodha Developers | ₹ 963.00 | ₹ 1,01,441 Cr. | 33.7x | 5.1x | 15.8% | 20.6% |
| Indus Towers | ₹ 380.00 | ₹ 1,00,250 Cr. | 14.9x | 2.7x | 19.8% | 22% |
| Oberoi Realty | ₹ 1,587.20 | ₹ 57,846 Cr. | 27.3x | 3.8x | — | 41.6% |
| Godrej Properties | ₹ 1,497.90 | ₹ 45,121 Cr. | 166x | 3.3x | 10.2% | 35.9% |
Management
- Rajendra Rana
- Chief Financial Officer
- Amit Ashok Khurana
- Managing Director, Executive Director
Prices are delayed and for information only. Nothing on this page is investment advice.