Madhucon

Hyderabad, India Founded: 1983 • Age: 43 yrs Listed
Provider of infrastructure development and construction services
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About Madhucon

Madhucon is a publicly listed company based in Hyderabad (India) founded in 1983 by Nageswar Rao. Provider of infrastructure development and construction services. The company has 906 employees. Its chief executive, as recorded, is Nama Seethaiah. Its Indian entity Madhucon Projects Limited reported revenue of ₹751 Cr. Madhucon offers products and services including Highways and Expressways and Irrigation Projects. Its focus areas include Real Estate and Construction, Construction Management Services and Diversified.

Company details

Founded in 1983 and headquartered in Hyderabad, India, operations are focused on infrastructure and construction across sectors such as transportation, irrigation, mining, and urban development. Projects are executed through models including cash contracts, EPC, and BOT. In-house capabilities for surveys, investigations, and structural design are maintained. Completion of projects has been achieved in multiple states throughout India.

  • Headquarters Hyderabad, India
  • Employees 906
  • Founders Nageswar Rao
  • Stage Public
  • Sectors
    Real Estate & Construction
  • Email
    ••••••••
  • Phone
    •••• ••••
  • Website madhucon.com
  • Social LinkedIn X Facebook
  • Legal Name Madhucon Projects Limited
Operational Areas
Real Estate & Construction → Construction & Project Management
Key Metrics
  • Market Cap
    ₹31.29 Cr

    MADHUCON · NSE

  • Share Price
    ₹4.31

    +1.65% today

  • Revenue
    ₹552 Cr

    FY 2025-26 · -18.4% YoY

  • EBITDA
    −₹147 Cr

    Margin -26.6%

  • Net Profit
    −₹445 Cr

    FY 2025-26 · +6.5% YoY

  • Employee Count
    906

Products & Services of Madhucon

Madhucon offers a comprehensive portfolio of products and services, including Highways and Expressways and Irrigation Projects.

Highways and Expressways
Transportation Infrastructure

Construction and maintenance of highways are performed to support national connectivity

Irrigation Projects
Water Management

Development of irrigation systems and tunnels is undertaken to enhance water supply and agricultural support

Board of directors of Madhucon Projects Limited (Madhucon)

Madhucon Projects Limited is the primary company behind Madhucon. The board of Madhucon Projects Limited currently have 4 directors; the longest-serving is Mohammad Shafi, appointed in 2015. 24 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Mohammad Shafi
DIN 07178265
Whole-time director30 May 201511 yrs 5 moMadhucon Projects Limited
Kothapalli Venkateswarlu
DIN 09713108
Director11 Nov 20224 yrsMadhucon Projects Limited
Geeta Battula
DIN 10205129
Director28 Jun 20233 yrs 4 moMadhucon Projects Limited
Venkata Sundara Jawaharlal Nehru Turlapati
DIN 02072398
Director09 Aug 20251 yr 3 moMadhucon Projects Limited

People of Madhucon

2 people are tracked at Madhucon (2 in leadership); the tracked headcount is 906.

NameRoleGroup
Nageswar Rao
FounderLeadership
Nama Seethaiah
CEO & MDLeadership
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  • Team structure
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IPO & Listings of Madhucon

Madhucon is a publicly listed company on the NSE with ticker symbol MADHUCON in India, operating in the Industrial services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date05 Oct 2006
  • Listed onNSE: MADHUCON
  • Listed entityMadhucon Projects Limited
  • Exchange sectorIndustrial services
  • ISININE378D01032
  • Share price₹4.12 (+2.49% on the day) · 2026-10-14
  • Market capitalisation₹28.9 Cr
  • EPS (diluted, trailing year)₹-42.05
  • Volume (last session)24,064

Financials of Madhucon

Exchange-reported figures of Madhucon Projects Limited, the listed company behind Madhucon (NSE: MADHUCON).

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹552 Cr
-18.4% YoY
EBITDA
−₹147 Cr
+47.9% YoY
Profit After Tax
−₹445 Cr
+6.5% YoY
Net Worth
-
Total Assets
-
Total Debt
-

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue5526771,1641,162948909734
Revenue growth-18.4%-41.9%+0.1%+22.6%+4.3%+23.8%-
EBITDA(147)(282)(299)(253)(63.43)(36.04)(923)
EBITDA margin-26.6%-41.7%-25.7%-21.7%-6.7%-4.0%-125.8%
Profit before tax(471)(518)(70.87)(197)(108)(276)(1,099)
Net profit(445)(475)(46.27)(144)(106)(233)(110)
Net profit margin-80.6%-70.2%-4.0%-12.4%-11.2%-25.7%-14.9%
EPS (₹)(60.24)(64.19)(6.09)(19.41)(14.36)(31.53)(143.97)
Balance sheet
Total assets-2,1432,3121,9292,4572,7652,358
Net worth-(1,468)(1,503)(1,920)(2,088)(1,884)(2,431)
Total debt-3,5543,9134,0114,1784,2414,446
Cash & bank-66.3039.0982.3811570.5086.68
Net working capital-290383308(880)(423)(1,028)
Cash flow
Cash from operations-84.74(256)(241)232(405)(587)
Cash from investing-51.19467949(158)8392,843
Cash from financing-(109)(261)(720)(43.41)(451)(2,209)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue49.94126139129157139111190
Revenue growth (YoY)-68.3%-9.4%+25.0%-31.9%-33.5%---
Other income5.9947.7851.2253.9646.7337.0866.77205
EBITDA10.56(30.13)(29.62)(50.73)(36.49)(36.33)(25.61)(202)
EBITDA margin+21.1%-24.0%-21.3%-39.2%-23.2%-26.2%-23.0%-106.4%
Depreciation0.5113113113113125.9048411.57
Interest0.50(17.91)6.415.746.4327.024.882.66
Profit before tax15.54(95.14)(116)(133)(127)(52.17)(447)(11.52)
Tax(1.72)1.010.36(2.56)0.299.28(1.08)(6.37)
Net profit17.26(96.15)(116)(131)(127)(61.45)(446)(5.15)
EPS (₹)2.22(13.46)(14.45)(16.36)(15.97)(5.27)(57.22)(0.61)
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue464580951901706647547
Revenue growth-20.0%-39.0%+5.6%+27.6%+9.2%+18.2%-
EBITDA(185)(283)(261)(142)(22.72)(114)(238)
EBITDA margin-39.8%-48.8%-27.5%-15.7%-3.2%-17.6%-43.6%
Profit before tax10.22(15.41)(20.31)(15.60)(15.11)(50.56)(252)
Net profit11.13(23.07)(11.41)3.92(38.00)(36.47)11.68
Net profit margin+2.4%-4.0%-1.2%+0.4%-5.4%-5.6%+2.1%
EPS (₹)1.51(2.84)(1.39)0.60(4.57)(4.93)(29.12)
Balance sheet
Total assets-9451,1131,1511,3331,4541,574
Net worth-503524534529563600
Total debt-67.86367533716732743
Cash & bank-5.295.544.7410.5810.1112.21
Net working capital-(302)(556)(759)(971)(972)(988)
Cash flow
Cash from operations-26717517819.0537.35(10.60)
Cash from investing-34.54(0.97)0.761.47(6.56)(0.96)
Cash from financing-(302)(173)(185)(20.06)(27.12)7.33
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue27.7910411710813511890.11163
Revenue growth (YoY)-79.4%-11.8%+30.4%-33.9%-35.6%---
Other income5.9747.2650.3553.4746.3210.9535.23204
Total expenses34.61149161158180129127373
EBITDA(6.82)(44.76)(43.99)(50.71)(45.21)(10.98)(37.14)(210)
EBITDA margin-24.5%-43.1%-37.4%-47.1%-33.4%-9.3%-41.2%-128.9%
Depreciation0.510.590.610.620.671.201.422.27
Interest0.000.000.000.000.000.000.750.71
Profit before tax(1.36)1.915.752.140.44(1.23)(4.08)(8.76)
Tax(1.72)1.010.36(2.56)0.299.33(1.13)(6.37)

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 13 Nov 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue49.94126139129157139111190
Revenue growth (YoY)-68.3%-9.4%+25.0%-31.9%-33.5%---
Other income5.9947.7851.2253.9646.7337.0866.77205
EBITDA10.56(30.13)(29.62)(50.73)(36.49)(36.33)(25.61)(202)
EBITDA margin+21.1%-24.0%-21.3%-39.2%-23.2%-26.2%-23.0%-106.4%
Depreciation0.5113113113113125.9048411.57
Interest0.50(17.91)6.415.746.4327.024.882.66
Profit before tax15.54(95.14)(116)(133)(127)(52.17)(447)(11.52)
Tax(1.72)1.010.36(2.56)0.299.28(1.08)(6.37)
Net profit17.26(96.15)(116)(131)(127)(61.45)(446)(5.15)
EPS (₹)2.22(13.46)(14.45)(16.36)(15.97)(5.27)(57.22)(0.61)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue5526771,1641,162948909734
Revenue growth-18.4%-41.9%+0.1%+22.6%+4.3%+23.8%-
Other income20033530190212713546.04
Total expenses6999591,4631,4151,0129451,658
Employee cost0.0018.1322.7929.9729.2027.9335.31
EBITDA(147)(282)(299)(253)(63.43)(36.04)(923)
EBITDA margin-26.6%-41.7%-25.7%-21.7%-6.7%-4.0%-125.8%
Depreciation52353131.8179914112971.58
Interest0.6738.8441.4247.1231.37246150
Profit before tax(471)(518)(70.87)(197)(108)(276)(1,099)
Tax(0.91)5.64(10.11)(19.99)18.70(14.09)15.84
Net profit(445)(475)(46.27)(144)(106)(233)(110)
Net profit margin-80.6%-70.2%-4.0%-12.4%-11.2%-25.7%-14.9%
EPS (₹)(60.24)(64.19)(6.09)(19.41)(14.36)(31.53)(143.97)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital-7.407.407.407.407.407.40
Reserves & surplus-(1,474)(1,509)(1,927)(2,095)(1,892)(2,438)
Shareholders' funds (net worth)-(1,468)(1,503)(1,920)(2,088)(1,884)(2,431)
Minority interest-(537)(485)(438)(122)(97.35)(66.66)
Secured loans-3,5403,6952,9893,6584,2294,389
Unsecured loans-14.292181,02252011.5656.76
Total debt-3,5543,9134,0114,1784,2414,446
Total liabilities-2,1432,3121,9292,4572,7652,358
Assets
Gross block-2,8012,3265512,1921,2122,248
Net block-12416952.616777491,236
Capital work in progress-87.0987.09232550613151
Investments-0.550.550.55754754971
Inventories-1.802.093.735.5414.7929.35
Sundry debtors-5.4235.725.0715.704.47117
Cash & bank balances-66.3039.0982.3811570.5086.68
Loans & advances-1,6862,2072,3972,0292,0571,348
Total current assets-1,7592,2842,4882,1662,1471,581
Total current liabilities-1,4691,9012,1813,0462,5702,608
Net working capital-290383308(880)(423)(1,028)
Total assets-2,1432,3121,9292,4572,7652,358
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash-33.0782.3894.9964.6080.9133.45
Net cash from operating activities-84.74(256)(241)232(405)(587)
Net cash from investing activities-51.19467949(158)8392,843
Net cash from financing activities-(109)(261)(720)(43.41)(451)(2,209)
Net change in cash-26.79(49.31)(12.60)30.38(16.31)47.46
Closing cash-66.3039.0982.3811570.5086.68
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth-18.4%-41.9%+0.1%+22.6%+4.3%+23.8%-
EBITDA growth+47.9%+5.6%-18.4%-298.3%-76.0%+96.1%-
PBT growth+9.0%-630.4%+64.1%-81.8%+60.7%+74.9%-171.3%
Net income growth+6.5%-927.0%+67.8%-35.1%+54.4%-113.1%-
Revenue CAGR (3Y)-22.0%-10.6%+8.6%+16.6%+0.2%-4.2%-22.5%
EBITDA CAGR (3Y)-16.5%+64.5%+102.5%-35.1%---
Profitability & leverage
Net income margin-85.2%-77.3%-5.2%-15.2%-13.4%-28.8%-151.9%
Return on capital employed-0.0%0.0%0.0%0.0%0.0%0.0%
Return on net worth-0.0%0.0%0.0%0.0%0.0%0.0%
Debt / equity-0.000.000.000.000.000.00
Long-term debt / equity-0.000.000.000.000.000.00
Interest cover-0.10-4.77-12.52-4.48-15.35-149.14-15.10
Efficiency & per share
Fixed asset turnover-0.260.810.850.560.530.19
Inventory turnover-347.85399.91250.7793.2841.1915.92
Debtors turnover-32.8957.06111.9294.0214.979.55
EPS (₹)(60.24)(64.19)(6.09)(19.41)(14.36)(31.53)(143.97)
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)0.00(198.09)(202.79)(259.28)(282.04)(254.53)(328.37)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue27.7910411710813511890.11163
Revenue growth (YoY)-79.4%-11.8%+30.4%-33.9%-35.6%---
Other income5.9747.2650.3553.4746.3210.9535.23204
Total expenses34.61149161158180129127373
EBITDA(6.82)(44.76)(43.99)(50.71)(45.21)(10.98)(37.14)(210)
EBITDA margin-24.5%-43.1%-37.4%-47.1%-33.4%-9.3%-41.2%-128.9%
Depreciation0.510.590.610.620.671.201.422.27
Interest0.000.000.000.000.000.000.750.71
Profit before tax(1.36)1.915.752.140.44(1.23)(4.08)(8.76)
Tax(1.72)1.010.36(2.56)0.299.33(1.13)(6.37)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue464580951901706647547
Revenue growth-20.0%-39.0%+5.6%+27.6%+9.2%+18.2%-
Other income19727625413416.5771.917.87
Total expenses6498631,2131,043729760785
Employee cost0.0014.6018.7419.3916.7917.2821.96
EBITDA(185)(283)(261)(142)(22.72)(114)(238)
EBITDA margin-39.8%-48.8%-27.5%-15.7%-3.2%-17.6%-43.6%
Depreciation2.505.716.115.824.785.968.37
Interest0.002.217.242.034.182.6413.43
Profit before tax10.22(15.41)(20.31)(15.60)(15.11)(50.56)(252)
Tax(0.91)5.64(10.04)(20.08)18.70(14.09)(36.57)
Net profit11.13(23.07)(11.41)3.92(38.00)(36.47)11.68
Net profit margin+2.4%-4.0%-1.2%+0.4%-5.4%-5.6%+2.1%
EPS (₹)1.51(2.84)(1.39)0.60(4.57)(4.93)(29.12)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital-7.407.407.407.407.407.40
Reserves & surplus-501522527522556592
Shareholders' funds (net worth)-503524534529563600
Secured loans-67.86367533716732743
Unsecured loans-0.000.000.000.000.000.00
Total debt-67.86367533716732743
Total liabilities-9451,1131,1511,3331,4541,574
Assets
Gross block-384468478489507501
Net block-20.5028.6731.9538.1743.2841.90
Capital work in progress-0.000.000.000.000.000.00
Investments-7421,0931,3981,4881,4881,716
Inventories-0.000.552.103.8213.1727.85
Sundry debtors-3.9343.284.1412.391.6625.59
Cash & bank balances-5.295.544.7410.5810.1112.21
Loans & advances-117209233139169215
Total current assets-126259244166194280
Total current liabilities-4298151,0031,1381,1661,268
Net working capital-(302)(556)(759)(971)(972)(988)
Total assets-9451,1131,1511,3331,4541,574
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash-5.544.7410.5810.116.4310.66
Net cash from operating activities-26717517819.0537.35(10.60)
Net cash from investing activities-34.54(0.97)0.761.47(6.56)(0.96)
Net cash from financing activities-(302)(173)(185)(20.06)(27.12)7.33
Net change in cash-(0.25)0.80(5.83)0.463.68(4.23)
Closing cash-5.295.544.7410.5810.1112.21
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth-20.0%-39.0%+5.6%+27.6%+9.2%+18.2%-
EBITDA growth+34.8%-8.3%-84.3%-524.1%+80.1%+52.2%-
PBT growth+9998.0%+24.1%-30.2%-3.2%+70.1%+80.0%-4081.8%
Net income growth+148.2%-102.2%-391.1%+110.3%-4.2%-412.2%-
Revenue CAGR (3Y)-19.8%-6.3%+13.7%+18.1%+1.8%-0.9%-7.6%
EBITDA CAGR (3Y)+9.2%+131.8%+31.9%-15.9%---
Profitability & leverage
Net income margin+2.4%-3.6%-1.1%+0.5%-4.8%-5.6%-39.4%
Return on capital employed--1.3%-1.2%-1.1%-1.1%-3.2%-0.7%
Return on net worth--4.1%-1.9%+0.8%-7.0%-6.3%+1.7%
Debt / equity-0.420.851.171.331.271.03
Long-term debt / equity-0.000.000.000.000.010.03
Interest cover0.00-0.77-2.71-1.38-15.20-2.20-5.45
Efficiency & per share
Fixed asset turnover-1.362.011.861.421.281.09
Inventory turnover-2,110.25717.92304.3383.1331.5215.48
Debtors turnover-24.5840.12108.99100.5247.453.86
EPS (₹)1.51(2.84)(1.39)0.60(4.57)(4.93)(29.12)
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)0.0068.6171.4572.1671.5076.0981.01

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Related news about Madhucon

Madhucon Projects standalone net profit rises 157.14% in the June 2026 quarter | Capital Market News - Business Standard
Business Standard • 3 months ago
Madhucon Projects reports consolidated net profit of Rs 16.42 crore in the June 2026 quarter | Capital Market News - Business Standard
Business Standard • 3 months ago
Madhucon Projects reports consolidated net loss of Rs 117.82 crore in the June 2025 quarter | Capital Market News - Business Standard
Business Standard • 1 year ago
Madhucon Projects reports consolidated net loss of Rs 38.87 crore in the March 2025 quarter | Capital Market News - Business Standard
Business Standard • 1 year ago
Madhucon Projects reports consolidated net loss of Rs 28.25 crore in the September 2022 quarter
India Infoline • 1 year ago
Madhucon Projects to announce Quarterly Result
India Infoline • 1 year ago
Madhucon Projects Dec-Quarter Loss Widens
Reuters • 4 years ago
Madhucon Projects bags tender for Nagaland road projects worth Rs734.9 crore | Mint
mint • 8 years ago
Brookfield eyes Madhucon’s road assets; Sixth Sense plans second fund at $38 mn
VCCircle • 9 years ago
Madhucon Projects bags Rs 217-cr order from Maha govt
DNA India • 9 years ago
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Frequently Asked Questions about Madhucon

Madhucon was founded in 1983.

Madhucon is headquartered in Hyderabad, India. It is registered at Hyderabad, Telangana, India.

Nama Seethaiah is the CEO of Madhucon, as recorded in our data.

Madhucon has 906 employees.

The primary company behind Madhucon, Madhucon Projects Limited, reported revenue of ₹751 Cr for FY 2026, down 18% year on year.

Founded in 1983 and headquartered in Hyderabad, India, operations are focused on infrastructure and construction across sectors such as transportation, irrigation, mining, and urban development. Projects are executed through models including cash contracts, EPC, and BOT. In-house capabilities for surveys, investigations, and structural design are maintained. Completion of projects has been achieved in multiple states throughout India.

Madhucon offers Highways and Expressways and Irrigation Projects.

Yes, Madhucon is publicly traded on NSE under the ticker symbol MADHUCON.

Madhucon operates through Madhucon Projects Limited.

The legal entities of Madhucon currently have 5 directors, including Kothapalli Venkateswarlu, Malla Reddy Dargabavi, Mohammad Shafi and others.

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