---
title: "Madhav Infra Projects Ltd (539894) — Share Price, Financials & Analysis"
symbol: "539894"
company: "Madhav Infra Projects Ltd"
canonical: "https://tapetide.com/stocks/539894"
isin: "INE631R01026"
nse_symbol: "MADHAVIPL"
bse_code: "539894"
sector: "Construction"
industry: "Civil Construction"
market_cap_cr: 210.81
generated_at: "2026-09-13T18:58:54.662Z"
---

# Madhav Infra Projects Ltd (539894)

Canonical page: https://tapetide.com/stocks/539894

## Company

- **NSE Symbol:** MADHAVIPL
- **BSE Code:** 539894
- **ISIN:** INE631R01026
- **Sector:** Construction
- **Industry:** Civil Construction
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2019-09-04
- **CEO:** Mr. Amit Ashok Khurana
- **Face Value:** ₹1
- **F&O Eligible:** No
- **Website:** madhavcorp.com

## About

Incorporated in 2010, Madhav Infra 
Projects Ltd is in the business of 
Infrastructure Development and 
Solar Power generation[1]

## Latest Price

- **Price:** ₹7.96
- **Change:** +0.04 (+0.51%)
- **Open:** ₹7.9
- **Day High:** ₹8.07
- **Day Low:** ₹7.81
- **Previous Close:** ₹7.92
- **Volume:** 110032
- **As Of:** 2026-09-11T09:58:10+00:00

## Key Fundamentals

Observed at 2026-09-11T04:51:08.655683Z.

- **Market Cap:** ₹210.81 Cr
- **Classification:** Microcap
- **P/E (reported):** 8.2
- **P/E (TTM):** 8.21
- **EPS (TTM):** ₹0.97
- **Book Value:** ₹8.89
- **Price to Book:** 0.89
- **Dividend Yield:** 0%
- **ROE:** 11.43%
- **ROCE:** 17.79%
- **Debt to Equity:** 0.69
- **Revenue (yearly):** ₹502.13 Cr
- **Net Income:** ₹27.55 Cr
- **EBITDA:** ₹66.16 Cr
- **52-Week High:** ₹9.9
- **52-Week Low:** ₹6.95
- **RSI (14):** 53.32

## Tapetide Score

- **Score:** 55 / 100
- **Score date:** 2026-09-04
- **Archetype:** Quality at a Reasonable Price
- **What it means:** Financial strength is not being paid for with a demanding multiple. The question worth asking is whether the quality is durable or reflects a good patch — check the consistency of returns over several years rather than the latest quarter.
- **Pillar profile:** Quality: Good · Valuation: Cheap · Momentum: Flat
- **Percentile:** 70.1 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 32.25 | 9% |
| growth | 12.39 | 9% |
| momentum | 51.68 | 12% |
| ownership | 50.32 | 24% |
| quality | 71.83 | 22% |
| valuation | 74.93 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Stock is trading at 0.90 times its book value
- Company has delivered good profit growth of 33.3% CAGR over last 5 years

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 12.3% over last 3 years.
- Contingent liabilities of Rs.306 Cr.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 92.05% | 69.19% | 23.74% |
| ebitda margin growth | -25.54% | 9.74% | -6.15% | 11.72% |
| net income growth | -45.22% | 12.45% | 20% | 33% |
| revenue growth | -64.86% | -18.51% | -1% | 13% |
| roce | -28.89% | 16.66% | -19.61% | 14.32% |
| roe | -45.6% | -1.38% | 14.83% | -225.33% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 97.57 | 87.78 | 150.77 | 67.89 | 86.77 | 147.26 | 308.31 | 87.54 | 106.82 | 53.7 | 254.06 | 88.37 |
| Expenses | 83.44 | 71.56 | 141.59 | 51.36 | 74.08 | 132.13 | 285.88 | 70.46 | 90.55 | 49.01 | 233.27 | 72.92 |
| Operating Profit | 14.13 | 16.22 | 9.18 | 16.53 | 12.69 | 15.13 | 22.43 | 17.08 | 16.27 | 4.69 | 20.79 | 15.45 |
| OPM % | 14.48 | 18.48 | 6.09 | 24.35 | 14.62 | 10.27 | 7.28 | 19.51 | 15.23 | 8.73 | 8.18 | 17.48 |
| Other Income | 3 | 0.79 | 1.68 | 0.91 | 2.18 | 0.86 | 2.4 | 2.99 | 8.42 | 1.88 | 2.37 | 1.76 |
| Interest | 6.28 | 6 | 5.2 | 5.99 | 6.45 | 7.82 | 7.36 | 7.72 | 7.57 | 6.9 | 3.15 | 5.66 |
| Depreciation | 3.78 | 3.98 | 4.3 | 3.31 | 3.33 | 4.59 | 4.07 | 3.37 | 3.33 | 3.33 | 3.5 | 3.22 |
| Profit before tax | 7.07 | 7.03 | 1.36 | 8.14 | 5.09 | 3.58 | 13.4 | 8.98 | 13.79 | -3.66 | 16.51 | 8.33 |
| Tax % | 11.32 | 21.62 | -99.26 | 17.81 | 17.88 | 29.89 | 14.7 | 16.7 | 9.72 | 16.39 | 30.41 | 24.85 |
| Net Profit | 7.96 | 4.62 | 2.76 | 6.8 | 4.18 | 2.51 | 11.43 | 7.48 | 12.46 | -4.26 | 11.5 | 6.25 |
| EPS in Rs | 0.26 | 0.13 | 0.1 | 0.25 | 0.15 | 0.1 | 0.45 | 0.28 | 0.47 | -0.16 | 0.43 | 0.23 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 385 | 326 | 204 | 274 | 460 | 513 | 460 | 610 | 502 | 503 |
| Expenses | 280 | 254 | 158 | 239 | 409 | 455 | 402 | 543 | 436 | 446 |
| Operating Profit | 106 | 72 | 45 | 35 | 51 | 58 | 58 | 67 | 66 | 57 |
| OPM % | 27 | 22 | 22 | 13 | 11 | 11 | 13 | 11 | 13 | 11 |
| Other Income | 14 | 3 | 29 | 3 | 3 | 29 | 6 | 6 | 8 | 14 |
| Interest | 59 | 39 | 34 | 32 | 28 | 25 | 24 | 28 | 25 | 23 |
| Depreciation | 52 | 30 | 24 | 21 | 16 | 13 | 16 | 15 | 14 | 13 |
| Profit before tax | 8 | 6 | 16 | -15 | 9 | 48 | 25 | 30 | 36 | 35 |
| Tax % | -1 | 20 | 74 | -20 | 29 | 24 | 10 | 18 | 24 | — |
| Net Profit | 8 | 5 | 3 | -13 | 6 | 36 | 23 | 25 | 27 | 26 |
| EPS in Rs | 0.3 | 0.2 | 0.15 | -0.49 | 0.24 | 1.26 | 0.8 | 0.96 | 1.02 | 0.97 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 6 | 6 | 6 | 6 | 26 | 26 | 27 | 27 | 27 | 27 |
| Reserves | 73 | 68 | 70 | 84 | 53 | 72 | 140 | 162 | 186 | 213 |
| Borrowings | 479 | 521 | 344 | 335 | 303 | 255 | 207 | 153 | 160 | 165 |
| Other Liabilities | 126 | 144 | 147 | 70 | 125 | 140 | 200 | 159 | 274 | 201 |
| Total Liabilities | 684 | 740 | 568 | 495 | 506 | 492 | 574 | 501 | 647 | 606 |
| Fixed Assets | 399 | 385 | 208 | 175 | 185 | 96 | 132 | 127 | 121 | 149 |
| CWIP | 3 | 25 | 0 | 0 | 0 | 0 | 7 | 3 | 3 | 0 |
| Investments | 30 | 31 | 31 | 38 | 32 | 30 | 31 | 21 | 21 | 21 |
| Other Assets | 252 | 300 | 329 | 282 | 290 | 366 | 404 | 349 | 501 | 436 |
| Total Assets | 684 | 740 | 568 | 495 | 506 | 492 | 574 | 501 | 647 | 606 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 79 | 101 | 29 | 2 | 100 | -8 | 73 | 65 | 124 | 32 |
| Cash from Investing Activity | -79 | -66 | 155 | 1 | -42 | 66 | -18 | -4 | -73 | -31 |
| Cash from Financing Activity | -2 | -21 | -212 | -20 | -73 | -64 | -33 | -79 | -28 | -20 |
| Net Cash Flow | -2 | 13 | -27 | -18 | -14 | -6 | 22 | -17 | 23 | -19 |
| Free Cash Flow | 14 | 31 | 236 | -6 | 74 | 52 | 35 | 57 | 116 | 32 |
| CFO/OP | 69 | 100 | 47 | -1 | 269 | 2 | 119 | 127 | 201 | 64 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 53 | 65 | 123 | 149 | 113 | 90 | 117 | 78 | 53 | 79 |
| Inventory Days | 190 | 200 | 218 | 339 | 273 | 222 | 167 | 163 | 85 | 101 |
| Days Payable | 295 | 228 | 204 | 211 | 187 | 202 | 279 | 222 | 130 | 123 |
| Cash Conversion Cycle | -51 | 37 | 138 | 277 | 199 | 109 | 5 | 20 | 9 | 58 |
| Working Capital Days | -13 | -18 | 51 | 132 | 88 | 108 | 54 | 76 | 20 | 48 |
| ROCE % | 13 | 11 | 9 | 12 | 4 | 10 | 13 | 13 | 16 | 16 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 69% | 68.98% | 68.81% | 68.81% | 68.81% | 68.81% | 68.81% | 68.81% | 68.81% | 68.81% | 68.81% | 68.81% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0.2% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.04% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 24.98% | 26.56% | 27.22% | 27.44% | 28.44% | 28.52% | 28.5% | 28.56% | 28.37% | 28.54% | 28.54% | 28.5% |
| Others | 6.02% | 4.27% | 3.97% | 3.74% | 2.74% | 2.66% | 2.68% | 2.62% | 2.81% | 2.65% | 2.64% | 2.64% |
| No. of Shareholders | 30632 | 40182 | 51175 | 51671 | 78692 | 78773 | 76849 | 73983 | 72208 | 71257 | 68506 | 67063 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Neutral
- **Buy / Neutral / Sell:** 6 / 7 / 6

### Moving Averages — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 7.98 | Sell |
| EMA (10) | 7.92 | Buy |
| SMA (20) | 7.72 | Buy |
| EMA (20) | 7.84 | Buy |
| SMA (50) | 7.86 | Buy |
| EMA (50) | 7.92 | Buy |
| SMA (100) | 8.32 | Sell |
| EMA (100) | 8.25 | Sell |
| SMA (200) | 8.98 | Sell |
| EMA (200) | 9.02 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 54.56 | Neutral |
| MACD (12,26,9) | 0.07 | Buy |
| Stochastic (14,3,3) | 61.23 | Neutral |
| ADX (14) | 21 | Neutral |
| Williams %R (14) | -38.93 | Neutral |
| ATR (14) | 0.36 | High Volatility |
| ROC (12) | -0.87 | Sell |
| Stoch RSI (14) | 64.19 | Neutral |
| UO (7,14,28) | 36.89 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-08 | [Corrigendum To Outcome Dated 30Th July 2026 Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=195276b8-9afa-4c1b-abf5-4815f2c690dc.pdf) |
| 2026-09-08 | [Intimation Of Book Closure Under Regulation 42 And 44 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 Read With Sections 91 96 108 Of The Companies Act 2013 (The Act) And Rule 20 Of Companies (Management & Administration) Ru](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=dab00966-c9e4-4de8-a440-3337f34d54e5.pdf) |
| 2026-09-08 | [Intimation Of The Date Of Annual General Meeting Scheduled To Be Held On Wednesday September 30 2026 At 12:30 P.M. (IST).](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d9cf5eef-2d11-47b2-a6e2-d1bd5526958d.pdf) |
| 2026-09-08 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bda9b96e-c812-4f0e-9aad-9b54b70c715c.pdf) |
| 2026-09-08 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=006b5e14-54a1-466c-a0d4-6ba0aac6c3f9.pdf) |
| 2026-08-06 | [Intimation Under Regulation 30 Of The SEBI (LODR) Regulations 2015 For Disclosure Of Inter-Se Transfer Of Shares Amongst The Promoters And Promoters Group Pursuant To Regulation 10(5) Of The SEBI (SAST) Regulations 2011.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=234f4394-0fba-46da-ad10-9423755f90b2.pdf) |
| 2026-08-06 | [Disclosure Of Inter-Se Transfer Of Shares Amongst The Promoters And Promoters Group Pursuant To Regulation 10(5) Of The SEBI (SAST) Regulations 2011.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=43d59eae-932b-4f16-a5cd-5b964b1d4989.pdf) |
| 2026-08-05 | [Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Regulations 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=A5506E4F_34B5_4093_BC8E_975653EB516C_161928.pdf) |
| 2026-08-05 | [Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Regulations 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=48CF153E_8D22_4E3F_8AAE_667500F663AB_162035.pdf) |
| 2026-08-05 | [Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Regulations 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=F01B9D05_6B97_45C6_BD68_7EE761008E38_162156.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-07-30 | [Submission Of Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter Ended On 30-06-2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=203b912b-d385-4a15-bbf9-e40a0dce08cc.pdf) |
| 2026-05-29 | [Declaration Of Standalone And Consolidated Audited Financial Results Along With Auditors Report And With Unmodified Opinion On Auditors Report Of The Company For The Quarter And Year Ended On March 31 2026 Is Attached Herewith.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1c0ac45a-9d49-4a8d-8f9d-37aa857ac02c.pdf) |
| 2026-02-13 | [Submission Of Standalone And Consolidated Unaudited Financial Results For The Quarter Ended As On December 31 2025 Along With The Limited Review Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1fb4dc4e-c03c-4ff7-a0af-845c8ed61e98.pdf) |
| 2025-11-10 | [Submission Of Standalone And Consolidated Unaudited Financial Results For The Quarter And Half Year Ended As On September 30 2025 Along With The Limited Review Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=64287544-022e-4e07-9674-bfcf8c335767.pdf) |
| 2025-08-02 | [Submission Of Standalone And Consolidated Unaudited Financial Results For The Quarter Ended As On June 30 2025 Along With The Limited Review Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5c38f22d-4b90-4422-ae01-333d22e5faa6.pdf) |
| 2025-05-01 | [Submission Of Standalone And Consolidated Audited Financial Results For The Quarter And Year Ended As On March 31 2025 Along With The AuditorS Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7c5c3f04-7fac-4fac-9fc7-de34426a351e.pdf) |
| 2025-02-03 | [Submission Of Standalone And Consolidated Unaudited Financial Results For The Quarter Ended On December 31 2024 Along With Limited Review Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=64d6e25a-a11d-450a-b73e-cf4038b6db02.pdf) |
| 2024-10-24 | [Submission Of Quarterly And Half Yearly Financial Results Under The Regulation 33 Of The SEBI (LODR) Regulations, 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=970def62-f4a3-4589-8f66-c44910eb46bd.pdf) |
| 2024-08-06 | [Submission Of Financial Results Under The Regulation 33 Of The SEBI (LODR) Regulations, 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ed482a96-b6ee-47cf-a511-e3f7a6ff9a7b.pdf) |
| 2024-05-10 | [Submission Of Financial Results March 31, 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c94da894-94ba-4221-851a-cffc4f9725f5.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 3 Feb - Board meeting on Feb 13, 2026 to approve unaudited results for quarter and nine months ended Dec 31, 2025. | [Board Meeting Intimation for Consideration Of The Standalone And Consolidated Unaudited Financial Results Of The Company For The Quarter And Nine Months Ended On December 31, 2025. 3 Feb - Board meeting on Feb 13, 2026 to approve unaudited results for quarter and nine months ended Dec 31, 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/094e2d47-449a-4e25-942a-ef43b7147944.pdf) |
| 24 Feb - INDUSAYUSH app approved and listed on Apple App Store effective 24 Feb 2026, link provided. | [Admission Of Our Health Records Platform INDUSAYUSH On Apple App Store 24 Feb - INDUSAYUSH app approved and listed on Apple App Store effective 24 Feb 2026, link provided.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/32e23f4e-a9bc-4f53-a09e-ddc547fb5ffc.pdf) |
| 23 Apr - Executed 9 PPAs with MPPMCL for 73.15 MW solar projects under PM-KUSUM, 25-year tenure. | [Announcement Under Regulation 30 SEBI (LODR) Regulations - Intimation Of Execution Of Multiple Power Purchase Agreements 23 Apr - Executed 9 PPAs with MPPMCL for 73.15 MW solar projects under PM-KUSUM, 25-year tenure.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8b12bc1d-ec4a-4f4d-acb1-80baeffb67f7.pdf) |
| 17 Feb - Of Newspaper Publication of Standalone and Consolidated Unaudited Financial Results for the quarter ended on December 31, 2025. | [Announcement under Regulation 30 (LODR)-Newspaper Publication 17 Feb - Of Newspaper Publication of Standalone and Consolidated Unaudited Financial Results for the quarter ended on December 31, 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8f1bc211-1b76-4302-9e37-a1986c545d35.pdf) |
| 16h - Executed 9 PPAs with MPPMCL for 73.15 MW solar projects under PM-KUSUM, 25-year tenure. | [Announcement Under Regulation 30 SEBI (LODR) Regulations - Intimation Of Execution Of Multiple Power Purchase Agreements 16h - Executed 9 PPAs with MPPMCL for 73.15 MW solar projects under PM-KUSUM, 25-year tenure.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/8b12bc1d-ec4a-4f4d-acb1-80baeffb67f7.pdf) |
| 14 Apr - Regulation 74(5) certificate filed for quarter ended March 31, 2026; no physical shares received for demat. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 14 Apr - Regulation 74(5) certificate filed for quarter ended March 31, 2026; no physical shares received for demat.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c3ccc1b2-fb22-4564-beed-6fb01fd2776c.pdf) |
| 13 Feb - Board approved standalone and consolidated unaudited results for quarter and nine months ended Dec 31, 2025; limited review. | [Board Meeting Outcome for Submission Of Unaudited Financial Results (Standalone And Consolidated) For The Quarter Ended On December 31, 2025. 13 Feb - Board approved standalone and consolidated unaudited results for quarter and nine months ended Dec 31, 2025; limited review.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b77a2313-cb46-4c7b-a9ca-d1bf1f970c27.pdf) |
| 13 Feb - Board approved standalone and consolidated unaudited results for quarter and nine months ended Dec 31, 2025; limited review by auditors. | [Submission Of Standalone And Consolidated Unaudited Financial Results For The Quarter Ended As On December 31, 2025, Along With The Limited Review Report. 13 Feb - Board approved standalone and consolidated unaudited results for quarter and nine months ended Dec 31, 2025; limited review by auditors.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1fb4dc4e-c03c-4ff7-a0af-845c8ed61e98.pdf) |
| 12 Jan - Reg.74(5) certificate for quarter ended 31-Dec-2025: no physical share certificates received for dematerialisation. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 12 Jan - Reg.74(5) certificate for quarter ended 31-Dec-2025: no physical share certificates received for dematerialisation.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b4035e65-88af-473e-843d-3e40664ae59b.pdf) |
| 10h - Appointed Mr. Ravi Prasad Muthyam as Independent Director from 06-Mar-2026 for five years; committees reconstituted. | [Board Meeting Outcome for Outcome Of The Board Meeting Held On 06Th March 2026 10h - Appointed Mr. Ravi Prasad Muthyam as Independent Director from 06-Mar-2026 for five years; committees reconstituted.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/fc169b5c-10ff-4c87-a774-2249024ed4f6.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e904a20f-31a5-4a9d-b7d6-fb8996758bbb.pdf) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/eca3a864-c388-4dd2-ba55-04787c554a26.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/44eb533c-9896-4620-bfd7-e253dca7f2ac.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/392ed4b5-dd7d-4810-9ed8-4ff885a03835.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b665a76e-35e9-4ae2-a379-2312b75b331c.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d22dd518-4e46-4b2d-9bee-686d74cfee85.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/532271/74581532271.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/539894/75563539894.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/532271/70240532271_14_09_21.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/539894/70589539894.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:58:54.662Z.