Madhucon Projects Ltd

AGM details

• Date/time: 29 September 2026, 3:00 PM IST.
• Mode: physical at the registered office.

Voting window

• Remote e-voting from 26 to 28 September 2026.
• Insta-Poll facility available at AGM.

Proceedings

• Chairman was an Independent Director and chaired the meeting.
• Statutory registers opened for inspection at the AGM.

Resolutions

• Resolutions moved per AGM notice; subjects not disclosed in filing.

Outcomes

• Voting results and Scrutinizer's Report to be informed to stock exchanges.
• Results to be posted on the company website.

Madhucon Projects Ltd trading-window closure

AGM notice and related actions

• Public notice published for the 36th AGM and dispatch of FY2025-26 Annual Report.
• KFin Technologies Limited engaged to provide e-voting facility for the AGM.
• Notice and Annual Report emailed to members with registered email IDs.
• Physical intimation letters to other shareholders with web-link access sent.
• Scrutinizer appointed: Ms. Vendra Madhumita, Practicing Company Secretary.
• Book closure from September 23 to 29, 2026.
• Remote e-voting window Sept 26–28, 2026, 09:00–17:00 IST.
• Cut-off date for voting eligibility: Sept 22, 2026.
• AGM to be held at Madhu Complex, Khammam.
• Clippings published in Financial Express and Nava Telangana; available on Madhucon's website.

Financial performance

• Standalone revenue from operations: 46407.81 lakhs for year ended 31-03-2026.
• Standalone total income: 66146.80 lakhs.
• Consolidated revenue from operations: 55177.12 lakhs.
• Consolidated total income: 75144.89 lakhs.
• Standalone net profit after tax: 1112.23 lakhs.
• Consolidated net loss after tax: (46997.54) lakhs.
• Standalone EPS (basic): 1.51.
• Consolidated EPS: (60.24) per share.

Cash flow and liquidity

• Net cash from operating activities: 20440.06 lakhs.
• Net cash used in investing activities: (44487.31) lakhs.
• Net cash from financing activities: 25844.03 lakhs.
• Net increase in cash and cash equivalents: 1796.79 lakhs.
• Cash and cash equivalents end of year: 7782.75 lakhs.

Dividends and AGM

• No dividend was declared for the year ended 31 March 2026.
• 36th AGM scheduled for 29 September 2026 at Khammam; registers close 23-29 Sept 2026.
• AR/Annual Report 2025-26 available on company website and stock exchanges.

Governance and board changes

• Board of 5 Directors as on 31 March 2026: 1 JMD, 1 Executive Director, 3 Independent Directors; 1 Woman Director.
• New director Prithvi Teja Nama appointed; Independent Director Shankara Rao Kadambala appointed.
• Cost Auditor AS RAO & CO. remuneration Rs 1,00,000; ratified by shareholders.

Audit flags and going concern

• Multiple subsidiaries flagged for going concern risk due to termination of contracts and NPAs.
• Adverse/qualified opinions issued for BKEL, RBEL, TN(DK) Expressways, Madurai Tuticorin Expressways, Chhapra-Hajipur Expressways.
• Note significant revenue recognition issues under Ind AS 115 related to service concessions in several SPVs.
• Management notes ongoing debt resolution discussions and OTS settlements with lenders; NOC pending in some cases.

Operations and outlook

• Order book: Rs 5263 crores; focus on infrastructure sectors like roads, bridges, irrigation and urban infrastructure.
• Segment revenues: Construction 46,414.10; Toll highways 8,763.02; total 55,177.12.
• Outlook positive for infrastructure capex; government initiatives like NIP, Gati Shakti, PM Modi’s infrastructure push.
• Group emphasizes PAN-India project execution across transportation, irrigation and industrial facilities.

Related party transactions

• Related party revenue: 10,124.07; KMP remuneration: 87.95; Sitting fees: 2.85.
• Outstanding related party balances include trade receivables: 8,114.51; other balances across ventures.

Risks and governance posture

• High reliance on government-funded infra projects, exposure to regulatory and land/ROW risks.
• Litigation, arbitration, and CBI/ED investigations in several subsidiaries create material uncertainty.
• Group is pursuing debt resolution and asset impairment monitoring; some entities report erosion of net worth.

Book closure and AGM

• Book closure period: 23 September 2026 to 29 September 2026 (inclusive).
• Purpose: for the 36th AGM of the company.
• AGM date and venue: 29 September 2026 at 3:00 PM at the Registered Office, Khammam.

AGM Details

• Date: 29 September 2026; Time: 03:00 P.M. IST.
• Mode: Physical meeting.
• Register/Book Closure: 23 Sept to 29 Sept 2026.

Key Resolutions

• Adopt standalone and consolidated IND AS financial statements for FY ended 31 March 2026.
• Re-appoint director retiring by rotation.
• Appoint Statutory Auditors and fix remuneration.
• Ratify Prithvi Teja Nama as Director (Additional Director).
• Ratify Shankara Rao Kadambala as Independent Director for five years.
• Remuneration of Cost Auditor approved for FY 2027.
• Approval for non-provision of interest on working capital and unsecured loans (OTS).

Director Changes

• Re-appoint K. Venkateswarlu (retiring by rotation).
• Prithvi Teja Nama appointed as Director (Additional Director).
• Shankara Rao Kadambala appointed as Independent Director for five years.

Auditor Appointments

• Statutory Auditors appointed for three-year term from 01/07/2026; remuneration to be fixed by Board.
• Cost Auditor remuneration approved: Rs 1,00,000 for FY 2027.

Other Material Approvals

• Non-provision of interest on working capital and unsecured loans approved (OTS).

Director changes

• Appointed Independent Director for 5-year term from 13 Aug 2026 to 12 Aug 2031.
• Not liable to retire by rotation.
• Profile: 32-year senior legal practice with corporate law focus.
• Appointed Prithvi Teja Nama as Director, effective 13 Aug 2026; retirement by rotation.
• Profile: 13+ years in civil construction, roads, real estate, compliance.