Madhucon Projects Ltd. Board Approves Q3 FY26 Unaudited Financial Results
Madhucon Projects Limited's Board approved unaudited standalone and consolidated financial results for Q3 FY26. Standalone profit after tax was ₹5.39 crore for the quarter and ₹10.23 crore for nine months. Consolidated results showed a loss of ₹115.89 crore for the quarter and ₹373.82 crore for nine months. The auditor's report raised several concerns regarding investments, subsidiary performance, and financial reporting.
The substantial consolidated losses and the extensive list of qualified opinions and concerns raised by the auditors in their review report indicate a high impact on the company's financial health and investor confidence.
The financial results show a significant consolidated loss, and the auditor's report raises numerous serious concerns regarding investments, subsidiary performance, potential impairments, and compliance issues, indicating a negative outlook.
Madhucon Projects Limited announced the outcome of its Board Meeting held on February 7, 2026. The Board approved the Unaudited Standalone and Consolidated Financial Results for the quarter and nine months ended December 31, 2025, along with the Auditors' Limited Review Report.
The meeting commenced at 11:00 AM and concluded at 4:30 PM. The financial results presented include standalone figures, showing a profit after tax of ₹539.22 lakhs for the quarter ended December 31, 2025, and a profit of ₹1,022.64 lakhs for the nine months ended December 31, 2025. Consolidated results for the same periods show a loss after tax of ₹11,589.26 lakhs for the quarter and ₹37,382.43 lakhs for the nine months ended December 31, 2025.
The auditors' report highlighted several qualifications and concerns, including issues with the carrying value of investments, write-offs in subsidiaries, default in repayment to Punjab National Bank, and lack of proper justification for certain income recognition and write-offs. Additionally, there are outstanding statutory dues, ongoing legal proceedings related to subsidiaries like Ranchi Expressways Ltd, and Corporate Insolvency Resolution Processes for other subsidiaries such as Trichy-Thanjavur Expressways Limited and Barasat - Krishnagar Expressways Limited.
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