Debut Plus

₹8.28

▼ -0.02 -0.24%

17 Jul 2026

NSE Listed

Madhav Infra Projects Limited (MADHAVIPL)

Volume: 83,973Avg Vol 1W: 1,08,965.8Avg Vol 1M: 1,10,486.952W Range:₹8₹9.9
NSE BSE madhavcorp.com
Key Ratios
Checked 18h ago
Market Cap₹226 Cr
Current Price₹8.28
Previous Close₹8.3
High / Low (52w)₹9.9 / ₹8
Volume83,973
Avg Vol (1W)1,08,965.8
Avg Vol (1M)1,10,486.9
Stock P/E11.36
Book Value₹7.89
Dividend Yield—
ROE12.2%
ROA—
Revenue (TTM)₹616 Cr
Revenue Growth—
Profit Margin—
Total Debt₹51 Cr
Shares Outstanding—
Face Value₹1
EPS (TTM)₹0.91
P/B1.38
Debt / Equity0.72
50 DMA₹8.57
200 DMA₹8.72
Day change-0.24%
Price Chart
₹8.28▼ 6.97% · 1Y
₹10₹811.6L
2026-04-20
2026-07-15

20-day avg volume: 1.1L shares

Pros
  • Company is almost debt-free.
Cons
  • Revenue fell 16% YoY.
Quarterly Results
MetricJun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026
Revenue₹68 Cr₹87 Cr₹147 Cr₹308 Cr₹88 Cr₹107 Cr₹54 Cr₹254 Cr
EBITDA₹14 Cr₹11 Cr₹11 Cr₹21 Cr₹17 Cr₹14 Cr₹11 Cr₹20 Cr
Net Profit₹7 Cr₹4 Cr₹3 Cr₹12 Cr₹7 Cr₹13 Cr₹-4 Cr₹12 Cr
EPS————————
Profit & Loss (Annual)
MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Revenue₹400 Cr₹329 Cr₹232 Cr₹277 Cr₹463 Cr₹542 Cr₹467 Cr₹616 Cr
EBITDA₹67 Cr₹45 Cr₹50 Cr₹17 Cr₹38 Cr₹73 Cr₹49 Cr₹57 Cr
Net Profit₹8 Cr₹5 Cr₹4 Cr₹-13 Cr₹6 Cr₹34 Cr₹22 Cr₹26 Cr
EPS12.178.020.58-0.670.241.580.930.97
Balance Sheet
MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Total Assets₹740 Cr₹564 Cr₹495 Cr₹506 Cr₹492 Cr₹574 Cr₹501 Cr₹647 Cr
Total Liabilities₹599 Cr₹435 Cr₹352 Cr₹375 Cr₹355 Cr₹403 Cr₹309 Cr₹433 Cr
Equity₹141 Cr₹129 Cr₹143 Cr₹131 Cr₹137 Cr₹170 Cr₹191 Cr₹214 Cr
Total Debt————————
Cash Flow
MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating₹105 Cr₹34 Cr₹-1 Cr₹94 Cr₹1 Cr₹68 Cr₹74 Cr₹134 Cr
Investing₹-66 Cr₹209 Cr₹4 Cr₹-42 Cr₹66 Cr₹-18 Cr₹-4 Cr₹-73 Cr
Financing₹-21 Cr₹-212 Cr₹-20 Cr₹-73 Cr₹-64 Cr₹-33 Cr₹-79 Cr₹-28 Cr
Free Cash Flow₹105 Cr₹34 Cr₹-1 Cr₹94 Cr₹1 Cr₹68 Cr₹74 Cr₹134 Cr
Shareholding
Promoter 68.81% Institutions 0% Public 31.19%
Efficiency & Working Capital
ROCE14.6%
Interest Coverage2.1
Dividend Payout—
Debtor Days47 d
Inventory Days51 d
Payable Days78 d
Cash Conversion Cycle20 d
Working Capital Days98 d
Shareholding Details

As of 2026-03-31

Promoter68.8%
FII0%
DII0%
Institutions0%
Public31.2%
Promoter Pledge0%
No. of Shareholders68,506
Shareholding Pattern

Quarterly — figures in %. Latest 12 quarters.

PeriodJun 2023Sept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026
Promoters69%69%69%68.8%68.8%68.8%68.8%68.8%68.8%68.8%68.8%68.8%
FIIs0%0%0%0%0%0%0%0%0%0%0%0%
DIIs0%0%0.2%0%0%0%0%0%0%0%0%0%
Public31%31%30.8%31.2%31.2%31.2%31.2%31.2%31.2%31.2%31.2%31.2%
Promoter Pledge0%0%0%0%0%0%0%0%0%0%0%0%
No. of Shareholders24,54030,63240,18251,17551,67178,69278,77376,84973,98372,20871,25768,506
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202503————
Major Shareholders (>1%)
NameCategoryStakeShares
Ashok Madhavdas KhuranaShareholding of Promoter and Promoter Group30.2%8.14 Cr
Ashok Madhavdas KhuranaShareholding of Promoter and Promoter Group28.1%7.57 Cr
Manju Ashok KhuranaShareholding of Promoter and Promoter Group4.9%1.31 Cr
Neelakshi Amit KhuranaShareholding of Promoter and Promoter Group3%80,43,120
Amit Ashok KhuranaShareholding of Promoter and Promoter Group1.8%47,91,240
Ashok Khurana HufShareholding of Promoter and Promoter Group0.9%23,35,206
Bindya Ashok KhuranaShareholding of Promoter and Promoter Group0%76,000
Rasika Vikramsinh ChauhanShareholding of Promoter and Promoter Group0%80,000
Promoter Pledges
HolderPledged Shares% of HoldingAs of
Amit Ashok Khurana00%2026-03-31
Ashok Khurana Huf00%2026-03-31
Ashok Madhavdas Khurana00%2026-03-31
Bindya Ashok Khurana00%2026-03-31
Manju Ashok Khurana00%2026-03-31
Neelakshi Amit Khurana00%2026-03-31
Rasika Vikramsinh Chauhan00%2026-03-31
Ashok Madhavdas Khurana00%2026-03-31
Neelakshi Amit Khurana00%2025-12-31
Amit Ashok Khurana00%2025-12-31
Bindya Ashok Khurana00%2025-12-31
Ashok Madhavdas Khurana00%2025-12-31
Board of Directors
NameDesignationYear
ASHOK MADHAVDAS KHURANAChairman & Non Executive Dir.2025
Amit A KhuranaED / MD / Promoter2025
Neelakshi A KhuranaNon-Exec & Non-Independent Dir2025
Shanker R BhagatIndependent Non Exe. Director2025
Hiral Vinodbhai PatelNon-Exec & Non-Independent Dir2025
Nikhil KaushikIndependent Non Exe. Director2025
Khushbu Prakash PrajapatiCompany Sec. & Compli. Officer2025
Segments — Product
SegmentRevenueShare
Civil EPC Contract₹304 Cr99.2%
Trading₹2 Cr0.6%
Solar Power Generation Income₹0 Cr0.1%
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2025₹1392727
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
202510116149570368
202576584570195
2025000000
Insider / Designated-Person Trades

8 recent disclosure(s)

Madhav Power Private LimitedAcquisition · 20,000
Madhav Power Private LimitedAcquisition · 50,000
Madhav Power Private LimitedAcquisition · 30,000
Ashok Madhavdas KhuranaDisposal · 1,62,500
Ashok Madhavdas KhuranaDisposal · 1,50,000
Ashok Madhavdas KhuranaDisposal · 1,00,000
Substantial Acquisitions (SAST)

7 disclosure(s)

Market26/03/2025 · 20,000
Market24/03/2025 · 50,000
Market21/03/2025 · 30,000
Market05/03/2024 - 06/03/2024 · 1,62,500
Market19/02/2024 · 1,50,000
Market15/02/2024 · 1,00,000
Company Information
Incorporated1992
ChairmanASHOK MADHAVDAS KHURANA
AuditorShah & Kadam
Investor Email[email protected]; [email protected]; s
🌐 madhavcorp.com ↗

📍 Madhav House Plot No 04, Nr Panchratna Bldg Subhanpura, Vadodara, Gujarat, 380023

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