Madhucon Projects Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
MADHUCON · price
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Madhucon Projects Limited has reported standalone profit of Rs 1,112.23 Lakhs for FY 2025-26, a turnaround from loss of Rs 2,104.41 Lakhs in prior year. Revenue from operations declined to Rs 46,407.81 Lakhs from Rs 58,032.49 Lakhs (approx 20% decline). The Statutory Auditor P. Murali & Co. has issued a Qualified Opinion on both standalone and consolidated results, citing multiple material concerns: inability to verify carrying value of equity investments of Rs 36,657.07 Lakhs and other investments of Rs 6,426.85 Lakhs; multiple subsidiaries with fully eroded net worth and going concern issues; bank default with PNB classified as NPA; questionable revenue recognition of Rs 15,252.71 Lakhs advances; trade payables write-back of Rs 14,279.73 Lakhs; and non-compliance with IEPF transfer requirements. Current liabilities exceed current assets by Rs 16,809.94 Lakhs indicating severe liquidity stress. Enforcement Directorate has attached properties worth Rs 176.86 Crore under PMLA case. Four step-down subsidiaries are under NCLT insolvency proceedings.
The qualified audit opinion with multiple going concern warnings, bank NPA, subsidiaries in insolvency, and regulatory scrutiny under CBI/ED investigations signal very high risk. Shareholders should be cautious as the company's ability to continue as a going concern is in material doubt despite management's assertions.