Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 1 Sep - Submitted newspaper advertisement clippings published for 36th AGM Notice.
Source: Bse
Madhucon Projects Limited (MADHUCON)
Small CapReal Estate stocks · Small cap · NSE
Madhucon Projects Limited operates in Real Estate Development, within the Real Estate sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityVerify one data layerQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals06 Oct 2026 · screener
Latest result16 Aug, 01:40 am IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage9/14 · 64%
Valuation2026-07-20 · Rf 6.8% · Real Estate P/E 22.2 (n=72)
Technical timing lens
Trend score and candlestick chart
39BearishSMA20 -13.3% / mo · MACD + · near 52W low · sector -6.4pp vs Nifty 500 (3M)
Stock trend: 37
Sector RS: 44
Sector 3M: -12.0% vs Nifty 500 -5.6%
Real Estate FPI tailwindBuilding
Latest FPI flow is positive, but a second consecutive positive fortnight is still required. View sector evidence
Technical chart
MADHUCOND candles · FIT view-18.6%Latest close ₹4.07 on 2026-10-19
Bar
+0.5%
RSI
45
MACD hist
0.05
52W pos
11%
2026-10-19O ₹4.05H ₹4.16L ₹4.05C ₹4.07Vol 670 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
MADHUCONNifty RealtyNifty 500
- MADHUCON
- -21.6%
- Nifty 500
- -5.6%
- Nifty Realty
- -11.0%
- Vs Nifty 500
- -16.0 pp
Chart stats
19 Oct 2026- From 52W high
- -50.3%
- 52W range position
- 10%
- ATR (14)
- 6.9%
- Volume vs 20D
- 0.02x
- Avg traded value
- ₹0 Cr
- 20D price channel
- ₹3.7 - ₹4.3
₹8.2
₹3.6 - ₹8.2
₹0.3
Latest completed session
20-session average
52.1% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · OVERVALUED8
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue -68.2% · PAT NDF YoY
Technical
Bearish39
Price trend and sector-relative-strength timing.
Valuation
Legacy model—
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence63
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 0/100Rev -68% YoY · margin expansion
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹50 Cr | -68.2% | -60.3% |
| EBITDA | ₹11 Cr | +130.6% | +136.7% |
| Operating margin | 21.0% | +4400 bps | +4500 bps |
| PAT | ₹17 Cr | NDF | NDF |
| PAT margin | 34.0% | +11489 bps | +11019 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- —
- P/B
- —
- EV/EBITDA
- 12.58
- Market Cap
- 28.60Cr
Profitability
- ROE
- —
- ROCE
- -34.00%
- ROA
- -10.37%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- -10.00%
- EPS 5Y
- -38.00%
- Revenue 3Y
- -22.00%
- EPS 3Y
- -9.00%
Balance Sheet
- Debt/Equity
- 0.00
- Interest Coverage
- —
- Altman Z
- -0.80
- Book Value
- -255.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 11/5
- OCF
- 204.00 Cr
- EPS TTM
- -42.04
Shareholding
- Promoter Hold
- 59.08%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 6%
Financial History
Updated 18/10/2026
Revenue
₹ CrLatest: 50.0-60.3% vs prev
Net Profit
₹ CrLatest: 17.0+117.7% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 45.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~15.3% over last month) — short-term momentum negative.
- RSI(14) at 45 — falling, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 48% off 52W high · 13% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
14
RS percentile
Stage 4 Downtrend
1M return
+0.0%
3M return
-21.6%
6M return
-18.6%
1Y return
-41.0%
RS 1D
0
RS 20D
+7
Sector rank
#18
Industry rank
#71
Stage evidence
- Price is 19.7% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -1.2%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
lagging
Industry
lagging
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 52.43-1.85%
RS vs Nifty 50052
Valuation & peers
U-Score 8 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 8 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation3/30
Growth1/25
Quality0/20
Balance Sheet6/15
Cash Flow4/10
Piotroski
4/9 (+1)
Penalties
-7
Raw sum
8
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
8/100 · legacy band OVERVALUED
Positive drivers
- Balance sheet contributes 6/15 to the score.
- Cash flow contributes 4/10 to the score.
- Valuation contributes 3/30 to the score.
Main drags
- Altman Z is -0.8, in distress territory.
- Penalty bucket subtracts 7 points.
- Quality is weaker at 0/20; verify the latest quarterly trend.
Sector valuation model
Real estate valuation: NAV, pre-sales, debt, and inventory quality
Real estate valuation depends more on project economics and balance sheet than simple PE.
Primary lens
NAV and market cap versus project pipeline and pre-sales.
Secondary checks
Inventory age, net debt, collections, execution record.
Main risk check
Book value can overstate value if inventory is slow or debt is high.
PE
—
PB
—
EV/EBITDA
12.6
ROE
—
ROCE
-34.0%
FCF Yield
—
Debt/Equity
0.0
MoS
—
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
8
Previous: 8
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
—
No stored baseline yet
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
8
8
8
8
8
8
8
8
8
8
8
8
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
—
Growth-justified P/E
1.2
Growth-justified Value
—
— MoS
PEG
—
Comparable companies
Peers
Business-comparable peers in Real Estate — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
KRIDHANINF
Small
Kridhan Infra Limited
Real Estate
match 176
27
29.7
—
+27%
OVERVALUED
RKEC
Small
RKEC Projects Limited
Real Estate
match 171
3
—
-19.4%
—
OVERVALUED
ANSALAPI
Small
Ansal Properties & Infrastructure Limited
Real Estate
match 165
41
19.4
—
+95%
WATCHLIST
RPPINFRA
Small
R.P.P. Infra Projects Limited
Real Estate
match 161
16
122.0
1.9%
-1360%
OVERVALUED
EMAMIREAL
Small
Emami Realty Limited
Real Estate
match 161
17
—
—
—
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Madhucon Projects Limited operates in Real Estate Development, within the Real Estate sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
63Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 38th percentile of the scored universe and 62nd percentile within Real Estate. Main check: results consistency is weak at 33/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
1 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
38th percentile
overall median 67 · Real Estate: 62nd pctile, median 61 · Small: 43rd pctile, median 66
Evidence depth
Financial-only
1 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
67
acceptable · profit to cash conversion
Balance sheet
80
strong · leverage and solvency
Discipline
38
weak · capital discipline
Results
33
weak · quarterly consistency
Trust positives
- ▸Promoter holding is 59.1%.
- ▸Promoter pledge is zero.
- ▸11 years of positive FCF.
- ▸Debt/equity is 0.00.
Trust risks
- ▸ROCE is low at -34%.
- ▸ROCE trend is -39.3%.
- ▸1/4 latest quarters had positive YoY revenue growth.
- ▸OPM spread across recent quarters is 127%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Madhucon Projects Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Change in Directorate 13 Aug - Board appointed Shankara Rao Kadambala as independent director and Prithvi Teja Nama as director effective 13 August 2026.
Source: Bse
Annual report
Reg. 34 (1) Annual Report. 28 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s 13 Aug - Board approved B. Narsing Rao & Co LLP as statutory auditor and Ganga Rao & Associates as internal auditor for 2026-27.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.