Madhucon Projects Approves Un-Audited Financials for Quarter Ended Sep 25
Madhucon Projects approves unaudited financials for the quarter ended September 30, 2025, along with the resignation of an independent director. The auditors raised concerns about investments, write-offs, and compliance issues.
The qualified audit opinion and ongoing legal and financial issues with subsidiaries suggest a high potential impact on the company's financial stability and future prospects.
The announcement includes qualified conclusions from the auditor and mentions defaults in repayment of dues, FIRs, and Corporate Insolvency Resolution Processes, indicating negative financial health.
* Madhucon Projects Limited approved un-audited standalone and consolidated financial results for the quarter and half year ended 30 September 2025. * Mrs. Ch. Lakshimi Kumari, Independent Director, resigned w.e.f. 8 November 2025. * The auditor's included a qualified conclusion due to several factors, including: * Equity Investments of ₹53,408.43 lakh in subsidiaries/other companies and other investments of ₹6,426.85 lakh, some incurring losses and net worth erosion. * Partial write-offs in Madhucon Infra Limited (₹7,637.67 lakh for the quarter and ₹15,275.34 lakh for the half-year) and Madurai Tuticorin Expressways Limited (₹738.01 lakh and ₹1,476.02 lakh respectively) without proper justification. * Default in repayment of dues to Punjab National Bank (PNB), classified as NPA, with OTS benefits not recognized due to non-receipt of NOC. * Partial recognition of income (₹2,707.20 lakh and ₹7,105.77 lakh) against advance received of ₹15,252.71 lakh from a step-down subsidiary without proper justification. * Write-back of Trade Payables amounting to ₹4,789.37 lakh and ₹4,877.14 lakh for the quarter and half year ended respectively. * Undisputed Statutory dues outstanding including Dividend Distribution Tax & Interest and Provident fund. * CBI filed FIR against Ranchi Expressways Ltd (REL), with the next hearing on 21 November 2025. * Corporate Insolvency resolution process (CRIP) admitted for Trichy-Thanjavur Expressways Limited and Barasat - Krishnagar Expressways Limited, with next hearing on 14 November 2025 and 7 November 2025 respectively.
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Madhucon Projects Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Madhucon Projects Limited. Read the original for the full detail.