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Madhav Infra Projects Limited

Madhav Infra Projects Limited

NSE: MADHAVIPL
Electric UtilitiesUtilitiesSMALL CAPMCap ₹191.7 Cr
₹7.11₹-0.08 (-1.11%)

Market Closed • NSE

Market cap₹191.7 Cr
Enterprise value₹275.7 Cr
P/E TTM7.41
P/B0.80
EPS TTM₹0.96
ROCE15.00%
D/E0.69
Dividend yield0.00%
Face value₹1.00
52W high₹8.47
52W low₹6.93
Price chart(1Y)
1Y Return:-16.16% (₹1.37)
H: ₹9.7L: ₹6.93
1W-0.97%
1M-6.32%
3M-16.35%
Today at a glance

Day range

₹7.10₹7.36

52 week range

₹6.93₹8.47
Volume116.4K1.16x 20D avg
Free float50.00%+15.50% volume

Madhav Infra Projects Limited closed at INR7.11 (-1.11%) on volume 1.16x its 20-day average, trading 16.06% below its 52-week high.

Technical analysis
RSI (14)35.7Neutral (30–70)
MACDBEARISHBearish (Below signal)
ATR (14)₹0.37High
SMA 20₹7.38BEARISH
SMA 50₹7.61BEARISH
SMA 100₹8.06BEARISH
SMA 200—N/A
CPR bottom₹7.25
Pivot₹7.23
CPR top₹7.21
What changed recently?

2026-Q2

Q2 FY2026 Financial Results

PAT moved -45.7% QoQ

Shariah audit
Methodology: AAOIFI Shariah Standard No. 21
FAIL3/4 criteria
Non-Compliant (Financial Ratios)
CriteriaNumeratorDenominatorValueThresholdStatus
Interest-bearing debt ratio₹165.0 Cr₹191.7 Cr86.08%≤ 33%FAIL
Non-halal income ratio–₹502.0 Cr0.00%≤ 5%PASS
Illiquid assets ratio–₹606.0 Cr—≥ 20%PASS
Receivables ratio–₹606.0 Cr—≤ 49%PASS
Valuation & sector context
MetricCompanySector
P/E7.4121.10
Forward P/E——
P/B0.801.70
EV/EBITDA4.2018.00
PEG—1.50
Earnings yield13.504.70
Growth & profitability
RevenuePAT
FY21PAT margin -4.70%
FY22PAT margin 1.30%
FY23PAT margin 7.00%
FY24PAT margin 5.00%
FY25PAT margin 4.10%
FY26PAT margin 5.40%

Revenue and PAT bars use independent scales to make their year-on-year direction readable.

Revenue CAGR 3Y-0.70%
Revenue CAGR 5Y+12.90%
PAT CAGR 3Y-9.10%
PAT CAGR 5Y—
Operating margin14.01%
Net margin5.21%
Financial health & cash flow
Net debt₹165.0 CrModerate
Interest coverage2.60xEBIT / interest
CFO / PAT2.29x3Y average
Net debt / EBITDA2.50xLeverage
Operating cash flow₹32.0 Cr
Capital expenditure–
Free cash flow₹32.0 Cr
Financial statements

Complete reported financial history · Values use the company's reporting currency

Hover over the chart for exact reported values. Percentage lines use the right-hand axis.

Fundamental scorecard
Overall68/100
Valuation75/100
Profitability65/100
Financial health65/100

A 0–100 quantitative summary of reported fundamentals. Use the underlying financials and risks for context; the score is not a buy or sell recommendation.

Strengths, risks & investment thesis

Strengths

High Cash Flow Conversion: CFO/PAT averaged 2.29x over last 3 years

Attractive Valuation: P/E of 7.4x trades below sector historical averages

Risks

Subject to cyclical raw material and macro industry pressures

Bull case

Market Leadership: Established operational scale in Electric Utilities.

Bear case

Macro Headwinds: Fluctuations in interest rates and sector-specific policy shifts could compress multiples.

Flip condition

Sustained quarterly EBITDA margin expansion above 20% would trigger an upgrade.

Shareholding pattern
Quarterly ownership historyLatest valid period · December 2025

Ownership distribution

Dec 2025Latest holding

Category trends

Hover over a period for exact holdings

80%53%27%0%Sept 2024Dec 2024Jun 2025Sept 2025Dec 2025
0.00%Institutional holding
31.18%Public holding
5Periods available
0.00%Promoter pledged
76.85KShareholders
Delivery participation

Traded volume and delivery percentage across the latest 20 sessions

Average delivery (20D)77.19%-4.75% latest vs average
Highest delivery93.74%on 29 Sept
Average volume (20D)100.7KTrading-session average
Conviction trendWeakening-4.75% latest reading
Traded volumeDelivery %
Peer comparison

Compare valuation, latest quarterly performance and year-on-year growth

8 companies
Company nameMarket cap ₹ CrP/E ratioDividend yield %Quarterly sales ₹ CrProfit after tax ₹ CrSales growth %Profit growth %
Adani Power Limited
Adani Power LimitedADANIPOWER
Open analysis
₹3.78L26.500.00%₹18,902.00₹4,867.00+33.97%+47.26%
NTPC Limited
NTPC LimitedNTPC
Open analysis
₹3.06L11.013.93%₹50,741.00₹6,896.00+7.81%+12.90%
Power Grid Corporation of India Limited
Power Grid Corporation of India LimitedPOWERGRID
Open analysis
₹2.33L14.653.60%₹9,795.00₹3,411.00-1.34%-6.62%
Adani Green Energy Limited
Adani Green Energy LimitedADANIGREEN
Open analysis
₹2.14L124.710.00%₹4,431.00₹983.00+16.61%+19.30%
Adani Energy Solutions Limited
Adani Energy Solutions LimitedADANIENSOL
Open analysis
₹1.67L56.210.00%₹9,711.00₹1,237.00+42.41%+129.50%
The Tata Power Company Limited
The Tata Power Company LimitedTATAPOWER
Open analysis
₹1.13L29.320.71%₹19,051.00₹1,401.00+5.63%+11.01%
GAIL (India) Limited
GAIL (India) LimitedGAIL
Open analysis
₹1.11L11.183.25%₹41,198.00₹4,671.00+16.67%+96.10%
Siemens Energy India Limited
Siemens Energy India LimitedENRIN
Open analysis
₹1.03L69.130.14%₹2,485.60₹440.90+39.28%+67.83%
About Madhav Infra Projects Limited
Madhav Infra Projects Limited

Incorporated in 2010, Madhav Infra Projects Ltd is in the business of Infrastructure Development and Solar Power generation[1]

IndiaUtilities

Questions investors ask
Is Madhav Infra Projects Limited Shariah compliant?

Madhav Infra Projects Limited is currently screened as Non-Compliant (Financial Ratios) under AAOIFI Shariah Standard No. 21. Business activities align with Shariah permissible sectors. Debt to Market Cap (86.08%) exceeds AAOIFI threshold (≤ 33%).

What is Madhav Infra Projects Limited's current valuation relative to peers?

Madhav Infra Projects Limited trades at a P/E of 7.4x compared to the sector median of 21.1x, and a Price-to-Book of 0.8x.

Is the company financially healthy?

The company has a Debt-to-Equity ratio of 0.69x and a Net Debt to EBITDA ratio of 2.5x. Interest coverage is 2.6x.

What are the historical revenue and profit growth rates?

Over the past 5 years, revenue compounded at 12.9% while net profit growth averaged consistent levels.

Market data is informational and may be delayed. Shariah screening follows the displayed methodology. This is not investment advice.

Market data may be delayed. Quote date: 2026-10-16. Financial figures relate to their stated reporting periods. This information is for research and is not a recommendation to buy or sell.