Reported Earnings • May 31
Full year 2026 earnings released: EPS: ₹1.02 (vs ₹0.97 in FY 2025) Full year 2026 results: EPS: ₹1.02 (up from ₹0.97 in FY 2025). Revenue: ₹5.10b (down 16% from FY 2025). Net income: ₹274.2m (up 6.0% from FY 2025). Profit margin: 5.4% (up from 4.2% in FY 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Announcement • May 27
Madhav Infra Projects Limited to Report Q4, 2026 Results on May 29, 2026 Madhav Infra Projects Limited announced that they will report Q4, 2026 results on May 29, 2026 Reported Earnings • Feb 16
Third quarter 2026 earnings released: ₹0.16 loss per share (vs ₹0.10 profit in 3Q 2025) Third quarter 2026 results: ₹0.16 loss per share (down from ₹0.10 profit in 3Q 2025). Revenue: ₹555.8m (down 62% from 3Q 2025). Net loss: ₹41.9m (down 256% from profit in 3Q 2025). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Announcement • Feb 03
Madhav Infra Projects Limited to Report Q3, 2026 Results on Feb 13, 2026 Madhav Infra Projects Limited announced that they will report Q3, 2026 results on Feb 13, 2026 Reported Earnings • Nov 11
Second quarter 2026 earnings released: EPS: ₹0.46 (vs ₹0.15 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.46 (up from ₹0.15 in 2Q 2025). Revenue: ₹1.08b (up 25% from 2Q 2025). Net income: ₹125.4m (up 201% from 2Q 2025). Profit margin: 12% (up from 4.8% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 36% per year, which means it is well ahead of earnings. Announcement • Nov 03
Madhav Infra Projects Limited to Report Q2, 2026 Results on Nov 10, 2025 Madhav Infra Projects Limited announced that they will report Q2, 2026 results on Nov 10, 2025 Board Change • Sep 11
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Nikhil Kaushik was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 05
Madhav Infra Projects Limited, Annual General Meeting, Sep 26, 2025 Madhav Infra Projects Limited, Annual General Meeting, Sep 26, 2025, at 11:30 Indian Standard Time. Reported Earnings • Aug 03
First quarter 2026 earnings released: EPS: ₹0.28 (vs ₹0.25 in 1Q 2025) First quarter 2026 results: EPS: ₹0.28 (up from ₹0.25 in 1Q 2025). Revenue: ₹903.8m (up 33% from 1Q 2025). Net income: ₹74.8m (up 9.4% from 1Q 2025). Profit margin: 8.3% (down from 10% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 49% per year, which means it is well ahead of earnings. Announcement • Jul 25
Madhav Infra Projects Limited to Report Q1, 2026 Results on Aug 02, 2025 Madhav Infra Projects Limited announced that they will report Q1, 2026 results on Aug 02, 2025 Valuation Update With 7 Day Price Move • May 17
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹14.95, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 22x in the Construction industry in India. Total returns to shareholders of 232% over the past three years. Reported Earnings • May 07
Full year 2025 earnings released: EPS: ₹0.96 (vs ₹0.81 in FY 2024) Full year 2025 results: EPS: ₹0.96 (up from ₹0.81 in FY 2024). Revenue: ₹6.16b (up 34% from FY 2024). Net income: ₹258.6m (up 19% from FY 2024). Profit margin: 4.2% (down from 4.7% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. New Risk • May 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.9x net interest cover). Share price has been highly volatile over the past 3 months (9.0% average weekly change). Minor Risk Market cap is less than US$100m (₹3.23b market cap, or US$38.5m). Valuation Update With 7 Day Price Move • May 02
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹14.37, the stock trades at a trailing P/E ratio of 23.7x. Average trailing P/E is 20x in the Construction industry in India. Total returns to shareholders of 214% over the past three years. Announcement • Apr 25
Madhav Infra Projects Limited to Report Q4, 2025 Results on May 01, 2025 Madhav Infra Projects Limited announced that they will report Q4, 2025 results at 12:15 PM, Indian Standard Time on May 01, 2025 Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹13.20, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 20x in the Construction industry in India. Total returns to shareholders of 160% over the past three years. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹12.02, the stock trades at a trailing P/E ratio of 19.8x. Average trailing P/E is 20x in the Construction industry in India. Total returns to shareholders of 171% over the past three years. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹12.10, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 21x in the Construction industry in India. Total returns to shareholders of 131% over the past three years. New Risk • Mar 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Market cap is less than US$100m (₹3.07b market cap, or US$35.3m). Reported Earnings • Feb 05
Third quarter 2025 earnings released: EPS: ₹0.10 (vs ₹0.25 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.10 (down from ₹0.25 in 3Q 2024). Revenue: ₹1.47b (up 68% from 3Q 2024). Net income: ₹26.9m (down 25% from 3Q 2024). Profit margin: 1.8% (down from 4.1% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 24
Madhav Infra Projects Limited to Report Q3, 2025 Results on Feb 03, 2025 Madhav Infra Projects Limited announced that they will report Q3, 2025 results on Feb 03, 2025 Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹13.90, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 28x in the Construction industry in India. Total returns to shareholders of 152% over the past three years. Announcement • Jan 03
Madhav Infra Projects Limited Announces Change of Company Secretary & Compliance Officer Madhav Infra Projects Limited announced that the Board of Directors of the Company at its meeting held on December 27, 2024, has, based on
the recommendations of Nomination and Remuneration Committee considered, approved and taken note of the following: Resignation Letter dated December 26, 2024 from Ms. Kinjal Khandelwal from the post of Company Secretary & Compliance Officer of the Company with effect from December 27, 2024, due to personal reasons. The Board has accepted her resignation and has relieved her from the duties and responsibilities with effect from December 27, 2024 and appointment of Ms. Khushbu Prakash Prajapati as Company Secretary and Compliance Officer of the Company with effect from December 27, 2024, under Section 203 of Companies Act, 2013 and under Regulation 6 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. Ms. Khushbu Prajapati is a Member of the Institute of Company Secretaries of India and a Commerce Graduate from H.L. Institute of Commerce (Ahmedabad University). She has rich experience in corporate governance and compliance. She was actively involved in various significant corporate actions and regulatory filings including handling the Initial Public Offering (IPO) and listing of the company and assisting the company in its Rights Issue process, managing all related legal, procedural, and compliance aspects. Valuation Update With 7 Day Price Move • Dec 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹16.25, the stock trades at a trailing P/E ratio of 25.4x. Average trailing P/E is 28x in the Construction industry in India. Total returns to shareholders of 219% over the past three years. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹17.15, the stock trades at a trailing P/E ratio of 26.8x. Average trailing P/E is 27x in the Construction industry in India. Total returns to shareholders of 299% over the past three years. Reported Earnings • Oct 26
Second quarter 2025 earnings released: EPS: ₹0.15 (vs ₹0.26 in 2Q 2024) Second quarter 2025 results: EPS: ₹0.15 (down from ₹0.26 in 2Q 2024). Revenue: ₹887.9m (down 9.0% from 2Q 2024). Net income: ₹41.7m (down 42% from 2Q 2024). Profit margin: 4.7% (down from 7.3% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 17
Madhav Infra Projects Limited to Report Q2, 2025 Results on Oct 24, 2024 Madhav Infra Projects Limited announced that they will report Q2, 2025 results on Oct 24, 2024 Buy Or Sell Opportunity • Oct 17
Now 23% undervalued Over the last 90 days, the stock has risen 49% to ₹18.09. The fair value is estimated to be ₹23.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹18.00, the stock trades at a trailing P/E ratio of 24x. Average trailing P/E is 29x in the Construction industry in India. Total returns to shareholders of 342% over the past three years. Announcement • Sep 26
Madhav Infra Projects Limited Announces Board Appointments Madhav Infra Projects Limited at its AGM held on September 25, 2024 appointed Ms. Hiral Patel, Mr. Shankar Bhagat and Mr. Kamal Lalani as an Independent Directors. Buy Or Sell Opportunity • Sep 23
Now 20% undervalued Over the last 90 days, the stock has risen 74% to ₹18.81. The fair value is estimated to be ₹23.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Sep 04
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₹22.77, the stock trades at a trailing P/E ratio of 30.4x. Average trailing P/E is 29x in the Construction industry in India. Total returns to shareholders of 459% over the past three years. Announcement • Aug 30
Madhav Infra Projects Limited announced that it expects to receive INR 637.478 million in funding from Waa Solar Limited Madhav Infra Projects Limited announced a private placement that it will issue 37,900,000 Compulsorily Convertible Preference Shares at an issue price of INR 16.82 per share for the gross proceeds of INR 637,478,000 on August 29, 2024. The transaction will include participation from new investor, Waa Solar Limited for 22,532,699 shares. The transaction has been approved by the board of directors of the company. Buy Or Sell Opportunity • Aug 27
Now 20% undervalued Over the last 90 days, the stock has risen 72% to ₹18.91. The fair value is estimated to be ₹23.71, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Aug 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.7x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Profit margins are more than 30% lower than last year (5.0% net profit margin). Shareholders have been diluted in the past year (5.2% increase in shares outstanding). Market cap is less than US$100m (₹4.42b market cap, or US$52.7m). Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹14.91, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 29x in the Construction industry in India. Total returns to shareholders of 195% over the past three years. Announcement • Aug 07
Madhav Infra Projects Limited, Annual General Meeting, Sep 25, 2024 Madhav Infra Projects Limited, Annual General Meeting, Sep 25, 2024, at 11:30 Indian Standard Time. Reported Earnings • Aug 07
First quarter 2025 earnings released: EPS: ₹0.25 (vs ₹0.31 in 1Q 2024) First quarter 2025 results: EPS: ₹0.25 (down from ₹0.31 in 1Q 2024). Revenue: ₹687.9m (down 42% from 1Q 2024). Net income: ₹68.4m (down 18% from 1Q 2024). Profit margin: 9.9% (up from 7.0% in 1Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 38% per year whereas the company’s share price has increased by 37% per year. Announcement • Jul 31
Madhav Infra Projects Limited to Report Q1, 2025 Results on Aug 06, 2024 Madhav Infra Projects Limited announced that they will report Q1, 2025 results on Aug 06, 2024 Buy Or Sell Opportunity • Jul 25
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 47% to ₹14.58. The fair value is estimated to be ₹11.77, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹11.73, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 30x in the Construction industry in India. Total returns to shareholders of 110% over the past three years. Announcement • Jul 01
Madhav Infra Projects Limited Announces Board Changes Madhav Infra Projects Limited announced the following changes in composition of the Board. Mr. Mayur Parikh, Ms. Jaini Jain and Ms. Pooja Shah has tendered their resignation as an Independent Director of the Company, witheffect from the close of business hours on 1st July 2024 due to other Professional commitments. Consequently, they shall also cease to be the Chairman/Member of the Audit Committee, Stake holder Grievance Committee, Nomination Remuneration Committee and Corporate Social responsibility Committee of the Company. Reported Earnings • May 12
Full year 2024 earnings released: EPS: ₹0.93 (vs ₹1.27 in FY 2023) Full year 2024 results: EPS: ₹0.93 (down from ₹1.27 in FY 2023). Revenue: ₹4.67b (down 9.0% from FY 2023). Net income: ₹216.8m (down 36% from FY 2023). Profit margin: 4.6% (down from 6.6% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • May 12
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to ₹13.69. The fair value is estimated to be ₹11.34, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹12.42, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 27x in the Construction industry in India. Total returns to shareholders of 184% over the past three years. Announcement • May 05
Madhav Infra Projects Limited to Report Q4, 2024 Results on May 10, 2024 Madhav Infra Projects Limited announced that they will report Q4, 2024 results on May 10, 2024 Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹11.82, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 27x in the Construction industry in India. Total returns to shareholders of 127% over the past three years. Buy Or Sell Opportunity • Feb 01
Now 21% undervalued Over the last 90 days, the stock has risen 128% to ₹14.13. The fair value is estimated to be ₹17.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Jan 30
Third quarter 2024 earnings released: EPS: ₹0.25 (vs ₹0.11 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.25 (up from ₹0.11 in 3Q 2023). Revenue: ₹885.8m (down 37% from 3Q 2023). Net income: ₹35.9m (up 22% from 3Q 2023). Profit margin: 4.0% (up from 2.1% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹14.26, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 26x in the Construction industry in India. Total returns to shareholders of 141% over the past three years. Announcement • Jan 21
Madhav Infra Projects Limited to Report Q3, 2024 Results on Jan 29, 2024 Madhav Infra Projects Limited announced that they will report Q3, 2024 results on Jan 29, 2024 Buying Opportunity • Dec 28
Now 25% undervalued Over the last 90 days, the stock is up 62%. The fair value is estimated to be ₹16.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Dec 26
Investor sentiment improves as stock rises 35% After last week's 35% share price gain to ₹12.57, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 24x in the Construction industry in India. Total returns to shareholders of 137% over the past three years. New Risk • Dec 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.0% average weekly change). Minor Risks High level of debt (74% net debt to equity). Large one-off items impacting financial results. Shareholders have been diluted in the past year (5.2% increase in shares outstanding). Market cap is less than US$100m (₹2.23b market cap, or US$26.8m). Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹8.29, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 23x in the Construction industry in India. Total returns to shareholders of 57% over the past three years. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹7.46, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 22x in the Construction industry in India. Total returns to shareholders of 68% over the past three years. Announcement • Oct 19
Madhav Infra Projects Limited to Report Q2, 2024 Results on Oct 25, 2023 Madhav Infra Projects Limited announced that they will report Q2, 2024 results on Oct 25, 2023 Valuation Update With 7 Day Price Move • Sep 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹6.79, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 23x in the Construction industry in India. Total returns to shareholders of 41% over the past three years. New Risk • Sep 10
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.9x net interest cover). Share price has been highly volatile over the past 3 months (9.9% average weekly change). Minor Risks Shareholders have been diluted in the past year (5.2% increase in shares outstanding). Market cap is less than US$100m (₹1.66b market cap, or US$20.0m). Announcement • Sep 06
Madhav Infra Projects Limited, Annual General Meeting, Sep 27, 2023 Madhav Infra Projects Limited, Annual General Meeting, Sep 27, 2023, at 11:30 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Financial Statements (Including the Consolidated Financial Statements) of the Company for the financial year ended March 31, 2023, together with the reports of Directors and Auditors thereon; to consider and appoint a Director in place of Shri Ashok Khurana who retires by rotation and, being eligible, offers himself for re-election; to consider and Appoint and fix the remuneration of Statutory Auditors of the Company; to consider authorisation and Ratification to Advance any Loan or Give Guarantee or to provide Security under section 185 of the Companies Act, 2013; and to consider other business matters. Announcement • Sep 02
Madhav Infra Projects Limited Appoints Kinjal Khandelwal as Company Secretary & Compliance Officer, Effective September 01, 2023 Madhav Infra Projects Limited informed the Board of Directors at its meeting held on August 31, 2023 have, considered the appointment of Ms. Kinjal Khandelwal (ACS: 59070) as Company Secretary & Compliance Officer of the Company with effect from September 01, 2023. Ms. Kinjal Khandelwal, is a Member of the Institute of Company Secretaries of India and a Commerce and Law Graduate from Maharaja Sayajirao University. She has an experience of 3 years in secretarial and compliance management. Announcement • Sep 01
Madhav Infra Projects Limited Announces Resignation of Dharmesh Chauhan as Company Secretary & Compliance Officer Madhav Infra Projects Limited at its meeting held on August 31, 2023, inter-alia, considered the Resignation of Mr. Dharmesh Chauhan from the position of Company Secretary & Compliance Officer of the Company with effect from August 31, 2023. Reported Earnings • Aug 04
First quarter 2024 earnings released: EPS: ₹0.31 (vs ₹0.04 in 1Q 2023) First quarter 2024 results: EPS: ₹0.31 (up from ₹0.04 in 1Q 2023). Revenue: ₹1.25b (up 58% from 1Q 2023). Net income: ₹83.3m (up ₹73.3m from 1Q 2023). Profit margin: 6.7% (up from 1.3% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Aug 03
Madhav Infra Projects Limited Announces Resignation of Heena Ullash Parikh as Independent Director Pursuant to the Regulation 30 of the SEBI (Listing obligation and Disclosure Requirements) Regulation, 2015, Madhav Infra Projects Limited announced that Ms. Heena Ullash Parikh (DIN-02879703), Independent Director has resigned from the Board of Director with effect from August 2, 2023 due to personal reasons. Board Change • Aug 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Independent Director Jaini Jain was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 29
Madhav Infra Projects Limited to Report Q1, 2024 Results on Aug 03, 2023 Madhav Infra Projects Limited announced that they will report Q1, 2024 results on Aug 03, 2023 Reported Earnings • Jun 15
Full year 2023 earnings released: EPS: ₹1.58 (vs ₹0.24 in FY 2022) Full year 2023 results: EPS: ₹1.58 (up from ₹0.24 in FY 2022). Revenue: ₹5.42b (up 18% from FY 2022). Net income: ₹339.2m (up 444% from FY 2022). Profit margin: 6.3% (up from 1.4% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₹5.62, the stock trades at a trailing P/E ratio of 26.3x. Average trailing P/E is 20x in the Construction industry in India. Total loss to shareholders of 22% over the past three years. Announcement • Jun 06
Madhav Infra Projects Limited to Report Q4, 2023 Results on Jun 13, 2023 Madhav Infra Projects Limited announced that they will report Q4, 2023 results on Jun 13, 2023 Valuation Update With 7 Day Price Move • May 30
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹4.98, the stock trades at a trailing P/E ratio of 23.3x. Average trailing P/E is 20x in the Construction industry in India. Total loss to shareholders of 12% over the past three years. Announcement • May 25
Madhav Infra Projects Limited to Report Q4, 2023 Results on May 30, 2023 Madhav Infra Projects Limited announced that they will report Q4, 2023 results on May 30, 2023 Announcement • Feb 05
Madhav Infra Projects Limited to Report Q3, 2023 Results on Feb 14, 2023 Madhav Infra Projects Limited announced that they will report Q3, 2023 results on Feb 14, 2023 Announcement • Jan 24
Madhav Infra Projects Limited Appoints Dharmesh Chauhan as Company Secretary and Compliance Officer Madhav Infra Projects Limited announced that the Board at its meeting held on 17 January, 2023, has approved the appointment of Mr. Dharmesh Chauhan (A-40003) as Company Secretary and Compliance officer of the Company with effect from January 23, 2023. Mr. Dharmesh Chauhan is a member of Institute of Company Secretaries of India (ICSl),He has more than 5 years of experience in area of Company Law, and Secretarial Activities. Qualification Company Secretary (ICSI), Bachelor of Commerce in the field of Accounting. Announcement • Jan 06
Madhav Infra Projects Limited Resignation of Gopal Shah as Company Secretary and Compliance Officer Madhav Infra Projects Limited announced that the Board at its meeting held on 5th January, 2023, has accepted Resignation of Shri Gopal Shah from the post of Company Secretary and Compliance officer of the Company with effect from January 05, 2023. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment deteriorated over the past week After last week's 20% share price decline to ₹4.74, the stock trades at a trailing P/E ratio of 22.2x. Average trailing P/E is 19x in the Construction industry in India. Total loss to shareholders of 21% over the past three years. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improved over the past week After last week's 24% share price gain to ₹5.24, the stock trades at a trailing P/E ratio of 24.5x. Average trailing P/E is 19x in the Construction industry in India. Total loss to shareholders of 5.5% over the past three years. Announcement • Nov 05
Madhav Infra Projects Limited to Report First Half, 2023 Results on Nov 14, 2022 Madhav Infra Projects Limited announced that they will report first half, 2023 results on Nov 14, 2022 Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment improved over the past week After last week's 21% share price gain to ₹4.87, the stock trades at a trailing P/E ratio of 22.8x. Average trailing P/E is 19x in the Construction industry in India. Total loss to shareholders of 5.4% over the past three years. Valuation Update With 7 Day Price Move • Sep 01
Investor sentiment improved over the past week After last week's 16% share price gain to ₹4.65, the stock trades at a trailing P/E ratio of 21.7x. Average trailing P/E is 19x in the Construction industry in India. Total returns to shareholders of 1.7% over the past three years. Reported Earnings • Aug 18
First quarter 2023 earnings released: EPS: ₹0.04 (vs ₹0.07 in 1Q 2022) First quarter 2023 results: EPS: ₹0.04 (down from ₹0.07 in 1Q 2022). Revenue: ₹794.8m (up 16% from 1Q 2022). Net income: ₹9.96m (down 43% from 1Q 2022). Profit margin: 1.3% (down from 2.6% in 1Q 2022). The decrease in margin was driven by higher expenses. Reported Earnings • May 25
Full year 2022 earnings released: EPS: ₹0.24 (vs ₹0.67 loss in FY 2021) Full year 2022 results: EPS: ₹0.24 (up from ₹0.67 loss in FY 2021). Revenue: ₹4.60b (up 68% from FY 2021). Net income: ₹62.4m (up ₹187.8m from FY 2021). Profit margin: 1.4% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Announcement • May 15
Madhav Infra Projects Limited to Report Q4, 2022 Results on May 19, 2022 Madhav Infra Projects Limited announced that they will report Q4, 2022 results on May 19, 2022 Board Change • Mar 29
High number of new directors Independent Director Jaini Jain was the last director to join the board, commencing their role in 2020. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improved over the past week After last week's 19% share price gain to ₹5.23, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 17x in the Construction industry in India. Total loss to shareholders of 3.9% over the past year. Reported Earnings • Feb 17
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.14 (up from ₹0.35 loss in 3Q 2021). Revenue: ₹768.6m (up 17% from 3Q 2021). Net income: ₹35.6m (up ₹101.1m from 3Q 2021). Profit margin: 4.6% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment deteriorated over the past week After last week's 20% share price decline to ₹5.80, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 18x in the Construction industry in India. Total returns to shareholders of 2.5% over the past year. Announcement • Feb 15
Madhav Infra Projects Limited to Report Q3, 2022 Results on Feb 14, 2022 Madhav Infra Projects Limited announced that they will report Q3, 2022 results on Feb 14, 2022 Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improved over the past week After last week's 25% share price gain to ₹6.88, the stock trades at a trailing P/E ratio of 20.9x. Average trailing P/E is 19x in the Construction industry in India. Total returns to shareholders of 11% over the past year. Valuation Update With 7 Day Price Move • Dec 14
Investor sentiment improved over the past week After last week's 16% share price gain to ₹5.25, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 16x in the Construction industry in India. Total returns to shareholders of 2.7% over the past year. Announcement • Sep 01
Madhav Infra Projects Limited announced a financing transaction Madhav Infra Projects Limited announced a private placement of convertible prepaid warrants on August 31, 2021.The transaction will include participation from the promoter of the company. Reported Earnings • Jul 04
Full year 2021 earnings released: ₹0.67 loss per share (vs ₹0.14 profit in FY 2020) The company reported a mediocre full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2021 results: Revenue: ₹2.77b (up 36% from FY 2020). Net loss: ₹125.4m (down 437% from profit in FY 2020). Reported Earnings • Feb 15
Third quarter 2021 earnings released: ₹0.35 loss per share (vs ₹0.013 profit in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: ₹665.6m (up 61% from 3Q 2020). Net loss: ₹65.6m (down ₹69.0m from profit in 3Q 2020). Is New 90 Day High Low • Jan 25
New 90-day high: ₹6.19 The company is up 23% from its price of ₹5.02 on 27 October 2020. The Indian market is also up 23% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Construction industry, which is up 36% over the same period. Is New 90 Day High Low • Dec 06
New 90-day high: ₹5.85 The company is up 1.0% from its price of ₹5.81 on 07 September 2020. The Indian market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 18% over the same period. Is New 90 Day High Low • Nov 04
New 90-day low: ₹4.40 The company is down 49% from its price of ₹8.60 on 06 August 2020. The Indian market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 3.0% over the same period. Is New 90 Day High Low • Oct 13
New 90-day low: ₹4.46 The company is down 36% from its price of ₹7.00 on 15 July 2020. The Indian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 2.0% over the same period.