Madhucon Projects Limited (MADHUCON) AI Stock Analysis

• Market Cap: ₹427.27M
• Dividend Yield: N/A
• Average Volume (3M): 12.06K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.56
• Revenue Growth: -52.19%
• EPS Growth: -3109.52%
• Country: IN
• Employees: 738
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Engineering & Construction
• EPS (TTM): -16.36
• Shares Outstanding: 73,794,945
• 10 Day Avg. Volume: 6,407
• 30 Day Avg. Volume: 12,063
• 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 Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 39 Underperform
• Price Target: ₹6.00 ▼(-1.64% Downside)

Madhucon Projects Limited faces significant financial challenges, with severe issues in profitability, leverage, and cash flow management. Technical analysis indicates bearish momentum, with the stock being oversold. The negative P/E ratio and lack of dividend yield further highlight valuation concerns. These factors collectively result in a low overall stock score.

Positive Factors

Strategic Partnerships

Strategic partnerships enhance Madhucon's ability to secure long-term contracts, providing a steady revenue stream and competitive edge in infrastructure projects.

Public-Private Partnerships

Participation in PPPs and BOT projects offers Madhucon long-term revenue opportunities and stability through tolls and service fees, supporting cash flow.

Infrastructure Development

Madhucon's involvement in diverse infrastructure sectors positions it well to benefit from India's growing infrastructure needs, supporting long-term growth.

Negative Factors

High Leverage

High leverage and negative equity indicate financial instability, limiting Madhucon's ability to invest in growth and increasing bankruptcy risk.

Negative Cash Flow

Negative free cash flow reflects cash management challenges, hindering Madhucon's ability to fund operations and invest in future projects.

Profitability Issues

Negative profit margins highlight operational inefficiencies, impacting Madhucon's ability to generate sustainable profits and reinvest in the business.

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 engages in the development and execution of engineering, procurement, and construction, as well as turnkey projects. Its projects include highway and expressway, road, railway, port, irrigation and water resource, building and property development, coal and other mineral mining, bridge and flyover, tunneling, industrial, and other infrastructure, as well as energy generation, transmission, and distribution projects. The company also develops smart cities and properties. Madhucon Projects Limited was founded in 1983 and is based in Hyderabad, India.

How the Company Makes Money

MADHUCON generates revenue through several key streams. Primarily, the company earns money by securing contracts for the construction of roads, highways, and other infrastructure projects, often through competitive bidding processes for government contracts. Additionally, MADHUCON engages in public-private partnerships (PPPs) which allow it to share in the revenue generated from completed projects. The company also provides project management and consultancy services, further diversifying its income sources. Significant partnerships with government bodies and private sector clients, along with a focus on large-scale infrastructure projects, contribute to its overall earnings.

Madhucon Projects Limited Financial Statement Overview

Summary

Madhucon Projects Limited is experiencing severe financial difficulties across all financial statements. The company faces profitability issues, high leverage, and negative equity, which pose significant risks. Cash flow challenges further compound the financial instability, indicating a need for strategic restructuring to regain financial health.

Income Statement

Madhucon Projects Limited has faced significant challenges in its income statement. The net profit margin and gross profit margin are negative, indicating profitability issues. The revenue growth has been inconsistent, with a recent decline in revenue from the previous year. EBIT and EBITDA margins are also weak, highlighting operational inefficiencies.

Balance Sheet

The company has a highly leveraged balance sheet with a negative stockholders' equity, indicating insolvency. The debt-to-equity ratio is unfavorable, and the equity ratio is negative, suggesting financial instability. The return on equity is not meaningful due to negative equity.

Cash Flow

Cash flow metrics reveal some critical issues, with negative free cash flow and inconsistent operating cash flows. Despite a slight improvement in operating cash flow in the most recent period, free cash flow remains negative, reflecting cash management challenges.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.97B	6.77B	11.62B	11.24B	9.48B	8.43B
Gross Profit	1.25B	1.41B	2.13B	933.93M	2.03B	-543.59M
EBITDA	548.53M	523.60M	23.76M	6.49B	638.49M	927.93M
Net Income	-5.83B	-4.75B	-451.17M	-1.44B	-1.06B	-2.33B
Balance Sheet
Total Assets	0.00	36.12B	42.13B	41.10B	55.03B	53.35B
Cash, Cash Equivalents and Short-Term Investments	662.95M	15.57B	329.11M	823.81M	954.24M	650.04M
Total Debt	0.00	35.54B	38.13B	32.19B	41.78B	42.41B
Total Liabilities	20.05B	56.17B	62.00B	64.67B	77.14B	73.16B
Stockholders Equity	-20.05B	-14.68B	-15.03B	-19.20B	-20.88B	-18.84B
Cash Flow
Free Cash Flow	0.00	-4.02B	-2.53B	-2.41B	2.26B	-5.09B
Operating Cash Flow	0.00	847.45M	-2.50B	-2.41B	2.32B	-4.05B
Investing Cash Flow	0.00	451.70M	4.67B	9.49B	-1.58B	8.39B
Financing Cash Flow	0.00	-1.09B	-2.61B	-7.20B	-559.49M	-4.51B

Madhucon Projects Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 6.10
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MADHUCON, the sentiment is Negative. The current price of 6.1 is below the 20-day moving average (MA) of 6.14, below the 50-day MA of 6.36, and below the 200-day MA of 7.02, indicating a bearish trend. The MACD of -0.10 indicates Positive momentum. The RSI at 41.53 is Neutral, neither overbought nor oversold. The STOCH value of 13.14 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MADHUCON.

Madhucon Projects Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BEARDSELL	65 Neutral	₹1.46B	12.54	―	0.33%	8.25%	13.92%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MANORG	54 Neutral	₹4.01B	16.55	―	―	22.53%	237.55%
AKSHARCHEM	54 Neutral	₹1.83B	95.16	―	0.30%	14.22%	―
KAKATCEM	53 Neutral	₹931.31M	-3.43	―	2.30%	-32.19%	-1097.08%
MADHUCON	39 Underperform	₹427.27M	-0.06	―	―	-52.19%	-3109.52%

Madhucon Projects Limited Corporate Events

Madhucon Projects Discloses Rs 31.44 Crore Loan Default for December Quarter

Madhucon Projects Limited has disclosed a default on payment of principal amounting to Rs 31.44 crore on its fund-based loans from banks and financial institutions as of 31 December 2025, with no associated interest or other charges reported as overdue. The company reported that the entire outstanding fund-based loan exposure of Rs 31.44 crore is in default, while its total financial indebtedness, including non-fund-based obligations, stands at Rs 160.56 crore for the period, underscoring ongoing stress in its funding profile and signaling heightened risk for lenders and other stakeholders monitoring its debt-servicing capacity.