Madhucon Projects Limited (IN:MADHUCON)
:MADHUCON
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Madhucon Projects Limited
(MADHUCON)
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Rating:38Underperform
Price Target:
₹5.00
▼(-18.03% Downside)
Action:ReiteratedDate:03/10/26
The score is driven primarily by very weak financial health (negative equity, poor profitability, and negative free cash flow). Technicals also remain bearish with price below key moving averages and negative MACD, with only mild support from near-oversold momentum readings. Valuation signals are not supportive due to a negative P/E and no dividend yield data.
Positive Factors
Diversified revenue model (EPC + concessions)
Madhucon combines milestone-driven EPC contract revenue with concession/PPP road income. This structural revenue mix provides diversification between project-phase cash receipts and longer-dated toll/annuity streams, supporting more durable cashflow profiles over infrastructure cycles.
Negative Factors
Negative shareholders' equity / solvency risk
Negative equity is a structural solvency concern that constrains borrowing capacity, raises refinancing and covenant default risk, and can impair the firm's ability to bid for and execute large EPC contracts. Long-term recovery requires capital restructuring or sustained profitability to restore equity.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified revenue model (EPC + concessions)
Madhucon combines milestone-driven EPC contract revenue with concession/PPP road income. This structural revenue mix provides diversification between project-phase cash receipts and longer-dated toll/annuity streams, supporting more durable cashflow profiles over infrastructure cycles.
Read all positive factors
Madhucon Projects Limited (MADHUCON) vs. iShares MSCI India ETF (INDA)
Market Cap
₹387.42M
Dividend YieldN/A
Average Volume (3M)12.06K
Price to Earnings (P/E)―
Beta (1Y)0.82
Revenue Growth-41.09%
EPS Growth11.01%
CountryIN
Employees738
SectorBasic Materials
Sector Strength58
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-14.45
Shares Outstanding73,794,945
10 Day Avg. Volume6,407
30 Day Avg. Volume12,063
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)-0.03
Price to Sales (P/S)0.06
P/FCF Ratio-0.11
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Madhucon Projects Limited Business Overview & Revenue Model
Company Description
Madhucon Projects Limited, together with its subsidiaries, operates as an integrated construction, infrastructure development, and management company in India. It operates in three segments: Construction, Power, and Toll Collection. The company en...
How the Company Makes Money
MADHUCON’s earnings are primarily generated through (1) EPC/construction contract revenue and (2) income from road projects developed under concession/PPP structures. Under EPC and item-rate/turnkey construction contracts, the company is paid by p...
Madhucon Projects Limited Financial Statement Overview
Summary
Income Statement
20
Very Negative
Balance Sheet
15
Very Negative
Cash Flow
25
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.37B | 6.77B | 11.62B | 11.24B | 9.48B | 8.43B |
| Gross Profit | 1.07B | 1.41B | 2.13B | 933.93M | 2.03B | -543.59M |
| EBITDA | 553.75M | 523.60M | 23.76M | 6.49B | 638.49M | 927.93M |
| Net Income | -7.00B | -4.75B | -451.17M | -1.44B | -1.06B | -2.33B |
Balance Sheet | ||||||
| Total Assets | 33.88B | 36.12B | 42.13B | 41.10B | 55.03B | 53.35B |
| Cash, Cash Equivalents and Short-Term Investments | 11.08B | 15.57B | 329.11M | 823.81M | 954.24M | 650.04M |
| Total Debt | 33.95B | 35.54B | 38.13B | 32.19B | 41.78B | 42.41B |
| Total Liabilities | 56.54B | 56.17B | 62.00B | 64.67B | 77.14B | 73.16B |
| Stockholders Equity | -17.08B | -14.68B | -15.03B | -19.20B | -20.88B | -18.84B |
Cash Flow | ||||||
| Free Cash Flow | 731.80M | -4.02B | -2.53B | -2.41B | 2.26B | -5.09B |
| Operating Cash Flow | 3.67B | 847.45M | -2.50B | -2.41B | 2.32B | -4.05B |
| Investing Cash Flow | -2.92B | 451.70M | 4.67B | 9.49B | -1.58B | 8.39B |
| Financing Cash Flow | -709.32M | -1.09B | -2.61B | -7.20B | -559.49M | -4.51B |
Madhucon Projects Limited Technical Analysis
Positive
6.10
Price Trends
4.65
Positive
5.30
Negative
6.20
Negative
Market Momentum
0.15
Negative
58.79
Neutral
74.13
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MADHUCON, the sentiment is Positive. The current price of 6.1 is above the 20-day moving average (MA) of 4.40, above the 50-day MA of 4.65, and below the 200-day MA of 6.20, indicating a neutral trend. The MACD of 0.15 indicates Negative momentum. The RSI at 58.79 is Neutral, neither overbought nor oversold. The STOCH value of 74.13 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MADHUCON.
Madhucon Projects Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹37.69B | 0.56 | ― | ― | -20.53% | 87.83% | |
70 Outperform | ₹35.34B | 11.13 | ― | 0.16% | -42.03% | -61.34% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
55 Neutral | ₹3.32B | 0.03 | ― | ― | 66.10% | 4264.41% | |
50 Neutral | ₹844.95M | 20.28 | ― | ― | -34.89% | -59.38% | |
46 Neutral | ₹1.63B | -0.64 | ― | ― | -18.68% | 29.67% | |
38 Underperform | ₹387.42M | -0.11 | ― | ― | -41.09% | 11.01% |
* Basic Materials Sector Average
IN:MADHUCON
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.