Madhav Infra Project

Madhav Infra Projects reported standalone revenue of Rs98.94 crore for the quarter ended September, down from Rs104.31 crore a year earlier, while consolidated revenue rose to Rs133.35 crore from Rs106.82 crore. Standalone net profit was Rs5.07 crore and consolidated net profit was Rs3.70 crore after a small contribution from joint ventures and associates. The board also approved raising up to Rs49.00 crore through a rights issue to existing shareholders, with the price and entitlement ratio left undecided. The company had approved conversion of promoter-group loans and preference shares into equity at Rs8.15 per share earlier in October. Consolidated revenue for the year to March was about Rs502 crore, with civil contracts accounting for most standalone sales.

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Madhav Infra Projects' board approved a rights issue of equity shares to existing shareholders for up to Rs 49 crore on 27 October 2026, with the price and entitlement ratio to be decided later, and appointed intermediaries for the offering. The board also approved standalone and consolidated unaudited results for the quarter and half year ended 30 September 2026. Standalone revenue was Rs 98.94 crore in the September quarter with net profit of Rs 5.07 crore, taking half-year revenue to Rs 156.29 crore and profit to Rs 9.54 crore, while consolidated half-year revenue was Rs 221.72 crore with profit of Rs 9.95 crore. The board had on 13 October approved variation of Rs 37.90 crore of preference shares into compulsorily convertible preference shares for Waa Solar and a preferential issue on conversion of promoter-group unsecured loans at Rs 8.15 per share. Consolidated revenue from operations was about Rs 502 crore in FY26 with standalone revenue of about Rs 447.6 crore, and promoters held 68.82% at the end of March 2026.

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Madhav Infra Projects scheduled a board meeting for 27 October 2026 at its Vadodara registered office to consider standalone and consolidated unaudited results for the quarter and half year ended 30 September 2026. The agenda also included in-principle consideration of a rights issue of Rs1 equity shares to existing shareholders and appointment of intermediaries for the offer. Nine days earlier the board had approved variation of Rs37.90 crore of preference shares into 4.65 crore compulsorily convertible preference shares for Waa Solar alongside a preferential issue of up to 4.19 crore shares on conversion of promoter-group loans at Rs8.15. Consolidated revenue was about Rs502 crore in FY26, down from about Rs610 crore a year earlier, with civil contracts accounting for the bulk of sales. Bank guarantees stood at Rs216.54 crore at the end of March 2026 against promoter holding of 68.82%.

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Madhav Infra Projects' board approved the variation of 3.79 crore existing 1% redeemable preference shares of Rs10 each into 4.65 crore compulsorily convertible preference shares of Re1 each, to be issued to promoter-group entity Waa Solar and convertible into an equal number of equity shares at Rs8.15 each. It also approved a preferential allotment of 4.19 crore equity shares of Re1 at Rs8.15 each upon conversion of outstanding unsecured loans from four promoter-group companies, subject to shareholder approval through a postal ballot. Waa Solar was an associate, with engineering, procurement and construction sales to it of Rs85.72 crore in FY25. The company reported consolidated revenue of about Rs502 crore in FY26, after Rs610.24 crore in FY25, with civil contracts forming the bulk of sales. Promoters held 68.82% of equity, or 18.55 crore shares, in March 2026. Consolidated debt-equity stood at 0.69 times in FY26, with bank guarantees of Rs216.54 crore.

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Madhav Infra Projects promoter Ashok Madhavdas Khurana proposed to gift 75,716,940 shares, representing 28.087% of the company, to Amit Khurana, Neelakshi Amit Khurana and Armaan Amit Trust from August 12, 2026. The transfer carried no consideration and left aggregate promoter and promoter-group ownership unchanged.

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Madhav Infra Projects Ltd MDHV.BO:

• MADHAV INFRA PROJECTS LTD - HAS RECEIVED MULTIPLE LETTERS OF AWARDS

• MADHAV INFRA PROJECTS LTD - GETS PROJECTS WORTH 3.42 BILLION RUPEES

Source text: ID:nBSEc2tx2Q

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April 10 (Reuters) - Madhav Infra Projects Ltd MDHV.BO:

• APPROVES 100% ACQUISITION OF MSK PROJECTS (I)

Source text: ID:nBSE64bNlx

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Feb 3 (Reuters) - Madhav Infra Projects Ltd MDHV.BO:

• MADHAV INFRA PROJECTS DEC-QUARTER CONSOL NET PROFIT 26.9 MILLION RUPEES

• MADHAV INFRA PROJECTS DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 1.47 BILLION RUPEES

Source text: ID:nBSE7WCyz6

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Dec 13 (Reuters) - Madhav Infra Projects Ltd MDHV.BO:

• MADHAV INFRA PROJECTS - GOT PROJECT WITH ACCEPTED BID WORTH 2.64 BILLION RUPEES

Source text: ID:nBSE6W2wsf

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April 24 (Reuters) - Madhav Infra Projects Ltd MDHV.BO:

• GETS ORDER OF CONTRACT VALUE 3.3 BILLION RUPEES

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March 4 (Reuters) - Madhav Infra Projects Ltd MDHV.BO:

• RECEIVED LETTER OF ACCEPTANCE FOR CONSTRUCTION OF RAILWAY BRIDGE

• GOT LOA WORTH 207.5 MILLION RUPEES

Source text for Eikon: ID:nBSE647sdS

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Oct 25 (Reuters) - Madhav Infra Projects Ltd MDHV.BO:

• SEPT-QUARTER CONSOL NET PROFIT 71.4 MILLION RUPEES VERSUS PROFIT 238 MILLION RUPEES

• SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 975.7 MILLION RUPEES VERSUS 905.2 MILLION RUPEES

Source text for Eikon: ID:nBSE1vJdsz

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Aug 22 (Reuters) - Madhav Infra Projects Ltd MDHV.BO:

• GETS LETTER OF ACCEPTANCE FOR CONSTRUCTION OF RAILWAY OVER BRIDGE

• BROAD CONSIDERATION OF CONTRACT 218.3 MILLION RUPEES

Source text for Eikon: ID:nBSE8sv8c0

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June 22 (Reuters) - Madhav Infra Projects Ltd MDHV.BO:

• GOT ORDER WORTH 370.7 MILLION RUPEES

Source text for Eikon: ID:nBSEbjHwTW

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June 20 (Reuters) - Madhav Infra Projects Ltd MDHV.BO:

• RECEIVED OF LETTER OF ACCEPTANCE WORTH 307.7 MILLION RUPEES

Source text for Eikon: ID:nBSE5HHKdR

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