Approved Audited Financial Results for the quarter and year ended 31st March 2026 under regulation 33 of SEBI (LODR) Regulations 2015.
MADHUCON · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Madhucon Projects Limited reported standalone profit after tax of Rs. 89.59 lakhs for Q4 FY26 and Rs. 1,112.23 lakhs for full year FY26, compared to a loss of Rs. 2,104.41 lakhs in FY25. Revenue from operations declined by 20% to Rs. 46,407.81 lakhs from Rs. 58,032.49 lakhs. The statutory auditor P. Murali & Co. issued a QUALIFIED OPINION citing multiple material uncertainties. Key concerns include: Rs. 36,657.07 lakhs in equity investments where net worth of subsidiaries is fully eroded; 75% write-off of Madhucon Infra Limited and 66.66% write-off of Madurai Tuticorin Expressways Limited; Rs. 15,252.71 lakhs revenue recognized from old advances without proper justification; and write-back of trade payables of Rs. 14,279.73 lakhs. The company's current liabilities exceed current assets by Rs. 16,809.94 lakhs. Multiple step-down subsidiaries are under NCLT insolvency proceedings including Ranchi Expressways Ltd (under CBI/ED investigation), Trichy-Thanjavur Expressways Ltd, and Barasat-Krishnagar Expressways Ltd.
The qualified audit opinion with going concern doubts signals extreme financial distress. Shareholders should be cautious as the company faces legal probes, subsidiary bankruptcies, and has not obtained title deeds for land properties. The auditor cannot ascertain the impact of audit qualifications, making financial reliability highly uncertain.