Madhav Marbles And Granites Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2025 • Granite & Stone Division: 95.8% • Power Generation Unit: 4.2%
AI Sector View
AI GENERATEDConsumer Durables
Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.
PROS
- Company is almost debt free
- Promoters have been increasing their shareholding - up 2.3pp over 2 years
CONS
- Operating cash flow has been negative in recent years
- A large part of profit comes from other income (417.4% of PBT)
- Company has a low return on capital employed of 1.0%
- Company has a low return on equity of 0.4% over last 3 years
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -2.75x)
- Company's sales have been declining over the last five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| KAJARIACER | 1240.35 | 35.71 | 19491.24 | 1.13 | 171.03 | 55.04 | 1328.08 | 20.43 | 23.07 | 19.69 |
| CERA | 5690.40 | 29.84 | 7339.22 | 1.32 | 47.05 | -0.86 | 422.19 | 5.36 | 19.41 | 13.05 |
| MIDWESTLTD | 1061.80 | 34.58 | 3839.56 | 0.00 | 310.39 | 1173.13 | 1918.39 | 1248.46 | 27.81 | 25.47 |
| POKARNA | 778.80 | 25.44 | 2414.59 | 0.08 | 42.60 | 50.56 | 189.42 | 10.79 | 11.85 | 35.89 |
| NITCO | 92.50 | 0.00 | 2336.33 | 0.00 | -10.33 | -121.77 | 116.02 | -22.48 | 6.58 | -7.07 |
| SOMANYCERA | 555.05 | 21.40 | 2276.42 | 1.08 | 34.23 | 365.71 | 749.56 | 24.62 | 14.43 | 11.50 |
| ASIANTILES | 50.46 | 118.71 | 1496.01 | 0.00 | 8.07 | 11.48 | 530.95 | 36.76 | 2.97 | 6.19 |
| ORIENTBELL | 418.90 | 29.19 | 616.43 | 0.24 | 8.32 | 2318.40 | 203.82 | 43.44 | 5.56 | 8.02 |
| EXXARO | 6.45 | 70.47 | 288.58 | 0.00 | 2.07 | 156.24 | 85.22 | 31.25 | 3.69 | 8.18 |
| MURUDCERA | 31.76 | 19.86 | 192.29 | 0.00 | 0.81 | -58.06 | 50.09 | 8.54 | 5.23 | 19.10 |
| GSLSU | 27.97 | 12.96 | 118.54 | 0.00 | 0.06 | 111.19 | 65.42 | -12.19 | -2.15 | 12.74 |
| MADHAV | 36.00 | 13.77 | 32.21 | 0.00 | -0.80 | 55.08 | 7.91 | -1.51 | 0.23 | -4.24 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 11 | 11 | 6 | 12 | 11 | 6 | 7 | 8 | 8 | 7 | 7 | 9 | 8 | |
| 10 | 11 | 8 | 11 | 10 | 7 | 6 | 8 | 8 | 8 | 7 | 10 | 8 | |
| Operating Profit | 1 | -1 | -2 | 1 | 1 | -1 | 1 | -1 | -0 | -1 | -0 | -1 | -1 |
| OPM % | 6.46% | -6.19% | -24.62% | 5.61% | 5.09% | -14.09% | 16.06% | -10.69% | -0.38% | -11.11% | -2.58% | -13.08% | -9.35% |
| 1 | 1 | 1 | 2 | 1 | 2 | 0 | 2 | 1 | 2 | 1 | 5 | 1 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before Tax | 1 | -0 | -1 | 1 | 1 | 0 | 1 | -0 | 0 | 0 | -0 | 3 | 0 |
| Tax % | 24.24% | 27.27% | 2.68% | 7.04% | 19.64% | 20.00% | 19.74% | -25.00% | 20.00% | 25.00% | 20.00% | 20.75% | 25.33% |
| Net Profit | 0 | -0 | -1 | 1 | 0 | 0 | 1 | -0 | 0 | 0 | -0 | 2 | 0 |
| 0.56 | -0.37 | -1.62 | 1.47 | 0.50 | 0.05 | 0.68 | -0.38 | 0.18 | 0.03 | -0.14 | 2.60 | 0.13 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 79 | 79 | 70 | 77 | 60 | 62 | 53 | 47 | 40 | 31 | 30 | |
| 71 | 73 | 69 | 70 | 58 | 57 | 51 | 46 | 41 | 31 | 33 | |
| Operating Profit | 7 | 6 | 0 | 7 | 2 | 5 | 2 | 1 | -1 | 0 | -3 |
| OPM % | 9.46% | 8.15% | 0.38% | 9.34% | 4.07% | 8.32% | 4.08% | 1.21% | -2.19% | 0.02% | -9.39% |
| 4 | 2 | 5 | 5 | 7 | 5 | 5 | 5 | 5 | 5 | 9 | |
| Interest | 1 | 0 | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 |
| Depreciation | 3 | 2 | 2 | 5 | 5 | 5 | 5 | 5 | 3 | 3 | 3 |
| Profit before Tax | 8 | 6 | 2 | 6 | 3 | 5 | 2 | 1 | 0 | 1 | 3 |
| Tax % | 5.90% | 14.50% | 16.79% | 23.33% | 31.46% | 4.34% | 4.16% | -44.69% | 72.97% | 30.92% | 21.07% |
| Net Profit | 8 | 5 | 2 | 5 | 2 | 4 | 2 | 1 | 0 | 1 | 2 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4.83 | 2.17 | 1.05 | 0.04 | 0.84 | — |
| Dividend Payout % | 11.80% | 17.18% | 12.43% | 4.85% | 0.00% | 10.36% | 11.52% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -10%
- 5 Years:
- -12%
- 3 Years:
- -17%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- -21%
- 5 Years:
- -19%
- 3 Years:
- -27%
STOCK PRICE CAGR
- 10 Years:
- -3%
- 5 Years:
- -8%
- 3 Years:
- -9%
- 1 Year:
- -22%
RETURN ON EQUITY
- 10 Years:
- 2%
- 5 Years:
- 1%
- 3 Years:
- 0%
- Last Year:
- 1%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| 109 | 115 | 115 | 120 | 122 | 126 | 128 | 128 | 128 | 129 | |
| 6 | 5 | 23 | 19 | 9 | 10 | 6 | 8 | 13 | 11 | |
| Trade Payables | 8 | 8 | 10 | 8 | 6 | 5 | 4 | 5 | 3 | 4 |
| 10 | 9 | 9 | 12 | 13 | 12 | 14 | 13 | 14 | 14 | |
| Total Liabilities | 143 | 146 | 165 | 167 | 158 | 162 | 161 | 163 | 168 | 167 |
| 27 | 27 | 30 | 41 | 37 | 32 | 29 | 29 | 27 | 24 | |
| Capital Work in Progress | 1 | 0 | 13 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| 0 | 1 | 2 | 3 | 2 | 1 | 2 | 3 | 3 | 3 | |
| 25 | 25 | 28 | 27 | 25 | 24 | 29 | 30 | 28 | 26 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15 | 12 | |
| Cash & Bank | 17 | 23 | 11 | 2 | 8 | 4 | 2 | 5 | 1 | 0 |
| 73 | 69 | 81 | 94 | 86 | 100 | 97 | 96 | 94 | 101 | |
| Total Assets | 143 | 146 | 165 | 167 | 158 | 162 | 161 | 163 | 168 | 167 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 13 | 7 | -7 | 1 | 16 | -1 | 2 | 3 | -6 | -2 | |
| Cash from Investing | -0 | -2 | -18 | 4 | -4 | 4 | -1 | -4 | 1 | 5 |
| Cash from Financing | -7 | -2 | 14 | -4 | -11 | 0 | -4 | 1 | 4 | -3 |
| 4 | 1 | -12 | 0 | -1 | 3 | -3 | -0 | -0 | 0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-07 - Madhav Marbles and Granites Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-07 - Madhav Marbles and Granites Limited has informed the Exchange regarding 'Intimation under Regulation 30 and 36 (1) (b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations )'.
2026-09-06 - Madhav Marbles and Granites Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2026
2026-08-16 - Madhav Marbles and Granites Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-13 - Madhav Marbles and Granites Limited has informed the Exchange about change in Management
2026-08-13 - Madhav Marbles and Granites Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-17 - Madhav Marbles and Granites Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
2026-07-14 - The Exchange had sought clarification from Madhav Marbles and Granites Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: The response of the Company is enclosed.
2026-07-06 - Madhav Marbles and Granites Limited has informed the Exchange regarding Proceedings of Extraordinary General Meeting held on July 06, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
News
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