Madhucon Projects Limited (MADHUCON) AI Stock Analysis

• Market Cap: ₹377.09M
• Dividend Yield: N/A
• Average Volume (3M): 12.06K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.46
• Revenue Growth: -52.19%
• EPS Growth: -3109.52%
• Country: IN
• Employees: 738
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Engineering & Construction
• EPS (TTM): -14.45
• 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: 38 Underperform
• Price Target: ₹3.50 ▼(-42.62% Downside)
• Action: Reiterated Date: 03/10/26
• Date: Action: Reiterated 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

Progress-based EPC billing

Madhucon’s EPC contracts use milestone/progress billing, which creates structurally predictable invoicing tied to project execution. Over a 2–6 month horizon this improves revenue visibility and aligns cash inflows to work completed, reducing billing volatility.

Negative Factors

Negative shareholders' equity

The balance sheet shows negative shareholders’ equity and high leverage, a structural solvency concern. This capital shortfall restricts access to fresh financing, increases default and covenant risk, and limits the firm’s ability to fund or bid on large, capital-intensive projects.

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...

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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 makes money primarily by executing infrastructure construction contracts, where it is paid by government agencies or other project owners for delivering defined project scope (e.g., engineering, procurement of materials, and construction ...

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MADHUCON makes money primarily by executing infrastructure construction contracts, where it is paid by government agencies or other project owners for delivering defined project scope (e.g., engineering, procurement of materials, and construction ...

Madhucon Projects Limited Financial Statement Overview

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

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

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MADHUCON, the sentiment is Neutral. The current price of 6.1 is above the 20-day moving average (MA) of 4.28, above the 50-day MA of 4.64, and below the 200-day MA of 6.27, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 64.75 is Neutral, neither overbought nor oversold. The STOCH value of 94.51 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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	14.39	―	0.33%	8.25%	13.92%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MANORG	57 Neutral	₹3.61B	24.26	―	―	22.53%	237.55%
KAKATCEM	54 Neutral	₹769.61M	-5.21	―	2.30%	-32.19%	-1097.08%
AKSHARCHEM	50 Neutral	₹1.46B	-10.48	―	0.30%	14.22%	―
MADHUCON	38 Underperform	₹377.09M	-0.11	―	―	-52.19%	-3109.52%

Madhucon Projects Limited Corporate Events