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Madhav Infra Projects Ltd (MADHAVIPL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 539894 NSE: MADHAVIPL Engineering - Construction | Small Cap | Madhav Infra Project Share Price

₹7.86 0.31 (4.11%)

As on 18-Sep'26 16:59

Madhav Infra Projects Ltd (MADHAVIPL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 539894 NSE: MADHAVIPL Engineering - Construction | Small Cap | Madhav Infra Project Share Price

₹7.86 0.31 (4.11%)

As on 18-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹212 Cr.
Current Price
₹7.9
52-Week Low / High
₹7 / 12
TTM EPS
₹1
TTM Sales
₹503 Cr.
Book Value per Share
₹9.1
P/E Ratio
8.09
Lower than its 5-year historical median
Industry PE
24.2
Price to Book (P/B)
0.86
Lower than its 5-year historical median
Price to Sales (P/S)
0.42
Lower than its 5-year historical median
EV/EBITDA
4.04
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
12.20%
Outperforms industry median
Return on Capital Employed (ROCE)
15.96%
Outperforms industry median
Return on Assets (ROA)
4.20%
Operating Profit Margin
11%
Net Profit Margin
4.01%
Gross Profit Margin
6.5%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
59.82%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
14.61%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
10.27%
Asset Quality
Promoter Holding
68.81%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹219 Cr.
Equity
₹27 Cr.
Face Value
₹1
All Time Low / High
₹3.55 / 23.90

Madhav Infra Projects stock performance

Key Ratios
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Quality

Somewhat Good
Check detailed performance

Valuation

Undervalued

Check Valuation charts

Price Trend

Semi Strong
Check Price chart
Q.1 Is Madhav Infra Projects Ltd a good quality company?
Madhav Infra Projects Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

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We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

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How does Madhav Infra Projects Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Madhav Infra Projects Ltd vs industry peers?
Madhav Infra Projects Ltd revenue CAGR is 24.56%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Madhav Infra Projects Ltd?
Promoters hold 68.81% of the Madhav Infra Projects Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Madhav Infra Projects Ltd over the last decade?
Over the last 5 year(s), the stock has delivered a CAGR of 14.58% based on the current price.
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10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Madhav Infra Projects Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % ⓘ15%13.2%11.3%9.9%12.1%4.2%10.5%18.8%12.4%17.2%-
Value Creation
Index ⓘ		0.1-0.1-0.2-0.3-0.1-0.7-0.30.3-0.10.2-

Growth Parameters ⓘ
Sales ⓘ306335307299200270387322358572420
Sales YoY Gr.-9.3%-8.4%-2.5%-33%34.6%43.4%-16.7%11.2%59.8%-
Adj EPS ⓘ0.40.30.30.10.2-0.50.30.50.710.9
YoY Gr.--14.3%-13.3%-53.9%50%-361.1%NA82.1%33.3%42.7%-
BVPS (₹) ⓘ2.52.93.23.33.533.36.16.97.99
Adj Net
Profit ⓘ		9.17.76.73.14.6-12.17.113.818.326.324
Cash Flow from Ops. ⓘ21.258.647.61.7-1389.42426.663.3105-
Debt/CF from Ops. ⓘ9.545.3154.8-21.62.88.16.921.2-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ7.2%23.4%14%59.8%
Adj EPS ⓘ12%40.1%51.3%42.7%
BVPSⓘ13.7%17.7%33.5%14.5%
Share Price - 14.5% 5% -32.2%

Key Financial Parameters ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ		11.87.15.32.33.3-8.95.49.110.413.210.4
Op. Profit
Mgn % ⓘ		12.722.118.520.722.212.512.914.413.110.512.2
Net Profit
Mgn % ⓘ		32.32.212.3-4.51.84.35.14.65.6
Debt to
Equity ⓘ		221.91.921.91.61.10.70.6-
Working Cap
Days ⓘ		118141217274462327229292259188120
Cash Conv.
Cycle ⓘ		-25626721721397886661359

Valuation of Madhav Infra Project - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales359399386326204274460513460610
Operating Expenses ⓘ + 278280280254159239409455402543
Manufacturing Costs4111983634112321222016498
Material Costs1981141491549090170209214417
Employee Cost 16202523191717151312
Other Costs ⓘ 23272414999111116
Operating Profit ⓘ 8012010671453551585867
Operating Profit Margin (%) 22.4%29.9%27.3%21.9%22.1%12.7%11.1%11.2%12.7%11.0%
Other Income ⓘ + 2414329332966
Exceptional Items ⓘ 0000000000
Interest ⓘ 40545939343228252428
Depreciation ⓘ 29555230242116131615
Profit Before Tax ⓘ 15148616-159482530
Tax ⓘ 53-0112-331135
Profit After Tax 1011854-127372224
PAT Margin (%) 2.7%2.7%2.1%1.6%2.0%-4.4%1.5%7.1%4.8%4.0%
Adjusted EPS (₹)0.40.40.30.20.2-0.50.21.30.81.0
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 100124126127142130122167188213
Share Capital ⓘ 41515858587764272727
Reserves ⓘ 59736870845358140162186
Debt +350381410251265224191182133131
Long Term Debt31534536620118517216114212095
Short Term Debt35354449805230401336
Minority Interest113152122431
Trade Payables51929386524694159130148
Others Liabilities ⓘ 55759410136102847456162
Total Liabilities ⓘ 557685738567496504492586511655

Fixed Assets

Net Fixed Assets ⓘ +39339938520817518596132127121
Gross Block444453501319292322196240249250
Accumulated Depreciation5155116111117137100108122129
CWIP ⓘ 03250000733
Investments ⓘ 24303131383230312121
Inventories95982928468104959698
Trade Receivables50586911083851131659989
Cash Equivalents 58566942244347565197
Others Assets ⓘ 238079849293103100114226
Total Assets ⓘ 557685738567496504492586511655
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ + 1027910129-2100-87365124
PBT ⓘ 10148616-159482530
Adjustment ⓘ 7110610765555042103538
Changes in Working Capital ⓘ 24-38-10-38-7259-50101566
Tax Paid ⓘ -3-3-5-5-16-95-10-10
Cash Flow From Investing Activity ⓘ + -277-79-662094-4266-18-4-106
Capex -353-64-69207-8-2660-38-8-8
Net Investments 74-18-0-1-7-3-9131-23
Others ⓘ 234319-131573-75
Cash Flow From Financing Activity ⓘ + 186-2-21-265-20-73-64-33-795
Net Proceeds from Shares ⓘ 351060000000
Net Proceeds from Borrowing ⓘ 03321-16514-40-11-18-28-25
Interest Paid ⓘ -40-54-59-39-34-32-28-25-24-28
Dividend Paid ⓘ 0000000000
Others ⓘ 191911-62-00-2411-2757
Net Cash Flow ⓘ 11-213-27-18-14-622-1723
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)16.2115.1510.586.754.97-14.178.2529.1912.512.2
ROCE (%)15.7813.211.78.8911.784.2710.3320.1813.4815.96
Asset Turnover Ratio0.790.640.570.530.40.581.021.040.941.19
PAT to CFO Conversion(x)10.27.1812.635.8-0.5N/A-1.141.972.955.17
Working Capital Days
Receivable Days28.9049.4057.2093.70164.30106.1071.1090.3093.3049.40
Inventory Days29.1031.5063.8091.20149.7095.9061.6064.7067.8051
Payable Days125.80229.10227.10212.10280198.40150.60221.80246.50121.70

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Announcements

Madhav Infra Projects Ltd FAQs

The current trading price of Madhav Infra Project on 18-Sep-2026 16:59 is ₹7.86.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 17-Sep-2026 the market cap of Madhav Infra Project stood at ₹211.9 Cr

The latest P/E ratio of Madhav Infra Project as of 17-Sep-2026 is 8.95.

The latest P/B ratio of Madhav Infra Project as of 17-Sep-2026 is 0.87.

The 52-week high of Madhav Infra Project is ₹12.30 and the 52-week low is ₹6.65.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Madhav Infra Project is ₹420 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Madhav Infra Projects Ltd is a average quality company.

The key valuation ratios of Madhav Infra Projects Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Madhav Infra Projects Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Madhav Infra Projects Ltd

Madhav Infra Project Private Limited was incorporated in the year 2010, has established itself as Other, Service Provider of Real Estate. Madhav Infra Project Private Limited is operates under Madhav Group which focused on Energy, Highways, Urban Infrastructure and Real Estate industries. Each vertical of the Group has a springboard of sound professional management and an enthusiastic workforce, to deliver challenging and rigorous assignments, in any part of the country, thereby carving an impressive track record with exceptional quality and speed. The company also engaged in the business of Civil Construction Contract. 

Business area of the company

The company is engaged in development, construction as well as operation & maintenance of Infrastructure Projects. The Company undertakes infrastructure developments projects directly or indirectly through Special Purpose Vehicle (SPVs), in terms of the concessional agreements. The company also engaged in the business of Power Generation Business i.e. solar & Hydro.


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