Madhucon Projects Ltd

₹ 17.5 -1.96%

25 Jul 10:32 a.m.

About

Incorporated in 1983, Madhucon Projects Ltd is in the business of Construction, Power and Toll Collection^[1]

Key Points

Business Overview:^[1]^[2]
Company does development and execution of Engineering, Procurement and Construction (EPC) and Turnkey Projects in multiple sectors such as Transportation, Irrigation, Water Resource Infrastructures, Railways, development of smart cities and properties in India. Company undertakes Projects in all modes viz., Cash Contracts, EPC and Build, Own and Operate (BOT). It has in-house Design Facility to undertake Surveys, Investigation, Design of Structures etc.

Website BSE NSE - BE

Market Cap ₹ 129 Cr.
Current Price ₹ 17.5
High / Low ₹ 19.7 / 4.93
Stock P/E
Book Value ₹ 71.1
Dividend Yield 0.00 %
ROCE -1.28 %
ROE -1.94 %
Face Value ₹ 1.00

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Pros

Stock is trading at 0.25 times its book value

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of 7.28% over past five years.
Company has a low return on equity of -2.76% over last 3 years.
Contingent liabilities of Rs.275 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Infrastructure Developers & Operators Industry: Construction

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	290.93	95.98	182.88	178.37	248.92	144.95	228.41	195.44	332.02	186.86	236.78	256.04	271.56
	311.06	102.95	146.13	184.26	258.03	167.95	230.86	298.63	345.20	206.69	237.98	257.62	510.32
Operating Profit	-20.13	-6.97	36.75	-5.89	-9.11	-23.00	-2.45	-103.19	-13.18	-19.83	-1.20	-1.58	-238.76
OPM %	-6.92%	-7.26%	20.10%	-3.30%	-3.66%	-15.87%	-1.07%	-52.80%	-3.97%	-10.61%	-0.51%	-0.62%	-87.92%
	19.95	3.42	1.07	3.46	8.62	21.41	1.37	102.79	8.48	17.33	1.20	3.09	232.80
Interest	0.50	1.68	39.38	0.26	0.36	0.69	0.30	0.35	0.69	0.55	1.10	4.43	1.16
Depreciation	2.27	1.18	1.18	1.18	1.25	1.03	1.19	1.21	2.39	1.46	1.54	1.54	1.56
Profit before tax	-2.95	-6.41	-2.74	-3.87	-2.10	-3.31	-2.57	-1.96	-7.78	-4.51	-2.64	-4.46	-8.68
Tax %	-126.78%	-6.40%	-67.15%	178.81%	667.62%	-270.69%	35.41%	15.31%	-158.48%	-21.06%	-37.12%	-47.53%	-68.89%
	0.79	-5.99	-0.90	-10.79	-16.12	5.65	-3.47	-2.26	4.54	-3.56	-1.67	-2.34	-2.70
EPS in Rs	0.11	-0.81	-0.12	-1.46	-2.18	0.77	-0.47	-0.31	0.62	-0.48	-0.23	-0.32	-0.37
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	1,045	865	1,137	718	693	664	669	547	643	706	901	951
	864	675	937	570	557	565	661	558	757	729	1,043	1,213
Operating Profit	181	191	200	148	136	99	9	-11	-114	-23	-142	-261
OPM %	17%	22%	18%	21%	20%	15%	1%	-2%	-18%	-3%	-16%	-27%
	19	32	28	21	19	22	15	-219	72	17	134	254
Interest	111	126	128	105	98	93	23	13	3	4	2	7
Depreciation	55	47	38	32	25	17	8	8	6	5	6	6
Profit before tax	34	50	62	31	32	11	-6	-252	-51	-15	-16	-20
Tax %	1%	36%	21%	27%	44%	-21%	-410%	-14%	-28%	124%	-129%	-49%
	34	32	49	22	18	13	19	-216	-36	-34	4	-10
EPS in Rs	4.58	4.30	6.69	3.03	2.40	1.78	2.52	-29.21	-4.94	-4.58	0.60	-1.39
Dividend Payout %	2%	2%	3%	0%	4%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	1%
5 Years:	7%
3 Years:	14%
TTM:	6%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	20%
TTM:	-363%

Stock Price CAGR
10 Years:	-8%
5 Years:	31%
3 Years:	38%
1 Year:	241%

Return on Equity
10 Years:	1%
5 Years:	-2%
3 Years:	-3%
Last Year:	-2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	7	7	7	7	7	7	7	7	7	7	7	7
Reserves	668	699	737	758	776	788	807	592	556	522	527	517
	656	573	648	568	593	639	713	743	732	716	533	448
	1,751	1,891	1,989	1,946	1,385	1,476	1,439	1,499	1,325	1,225	1,086	955
Total Liabilities	3,083	3,170	3,382	3,280	2,762	2,910	2,967	2,841	2,620	2,470	2,154	1,928
	173	128	84	55	53	51	49	42	43	38	32	29
CWIP	0	0	0	0	2	0	0	0	0	0	0	0
Investments	1,357	1,377	1,557	1,724	1,772	1,772	1,716	1,716	1,488	1,488	1,398	1,093
	1,552	1,665	1,741	1,500	935	1,087	1,202	1,084	1,089	944	723	806
Total Assets	3,083	3,170	3,382	3,280	2,762	2,910	2,967	2,841	2,620	2,470	2,154	1,928

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	406	76	294	311	115	45	-40	-11	37	19	178	175
	-227	8	-170	-16	-61	-13	-5	-1	-7	1	1	-1
	-192	-88	-129	-282	-57	-31	38	7	-27	-20	-185	-173
Net Cash Flow	-12	-3	-5	13	-4	1	-7	-4	4	0	-6	1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	133	49	129	142	72	108	141	17	1	6	2	17
Inventory Days	54	125	21	106	64	120	178	102	51	14	5	0
Days Payable	240	372	445	2,464	659	1,070	2,030	1,704	2,410	2,200	1,131	164
Cash Conversion Cycle	-52	-198	-295	-2,216	-524	-842	-1,711	-1,585	-2,358	-2,179	-1,124	-147
Working Capital Days	-92	-3	-44	-519	-319	-268	-246	-692	-558	-508	-309	-215
ROCE %	11%	13%	14%	10%	10%	7%	1%	-1%	-4%	-1%	-1%	-1%

Shareholding Pattern

Numbers in percentages

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
	58.96%	59.08%	59.08%	59.08%	59.08%	59.08%	59.08%	59.08%	59.08%	59.08%	59.08%	59.08%
	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.00%
	41.01%	40.90%	40.90%	40.90%	40.88%	40.89%	40.90%	40.90%	40.89%	40.89%	40.90%	40.92%
No. of Shareholders	17,124	18,516	19,424	19,315	19,397	19,717	19,697	19,704	19,395	19,688	19,714	19,615

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Jun 2024
	58.86%	58.86%	58.89%	58.96%	58.96%	59.08%	59.08%	59.08%	59.08%
	0.00%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.00%
	8.68%	0.17%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%
	32.46%	40.94%	41.08%	41.00%	41.01%	40.90%	40.90%	40.90%	40.92%
No. of Shareholders	14,749	19,139	18,354	17,629	16,653	19,424	19,697	19,714	19,615

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Madhucon Projects Ltd

Madhucon Projects Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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