Madhav Infra Projects Limited has published its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, following a board meeting held on Friday, May 29, 2026. The company reported a standalone net profit of ₹1,045.15 lakh for the quarter ended March 31, 2026, compared to ₹1,138.60 lakh in the corresponding period of the previous year. For the full year, the standalone net profit stood at ₹2,613.18 lakh, down from ₹2,698.54 lakh in FY25. The consolidated net profit for Q4FY26 was ₹1,149.41 lakh, while the annual figure was ₹2,717.63 lakh.

The board meeting, conducted under Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, took place at the company's registered office in Vadodara. Amit Khurana, Managing Director, approved the financial results, which were subsequently published in the Free Press Journal (English) and Lokmitra (Gujarati) newspapers on Sunday, May 31, 2026, in compliance with Regulation 47 of the SEBI LODR Regulations.

Total income from operations for the standalone entity in Q4FY26 was ₹20,768.85 lakh, a decrease from ₹29,771.84 lakh in the same quarter of the previous year. Annual standalone income from operations for FY26 was ₹44,756.81 lakh, compared to ₹57,220.95 lakh in FY25. On a consolidated basis, total income from operations for Q4FY26 was ₹25,406.48 lakh, and for the full year, it was ₹50,213.04 lakh.

The company's basic earnings per share (EPS) for the standalone quarter ended March 31, 2026, was ₹0.39, compared to ₹0.42 in the prior year's corresponding quarter. For the full year, the standalone EPS was ₹0.97, down from ₹1.00 in FY25. The consolidated EPS for Q4FY26 was ₹0.43, while the annual consolidated EPS was ₹1.02.

Financial Results Summary

Madhav Infra Projects has executed 9 power purchase agreements with Madhya Pradesh Power Management Company Limited, aggregating to a total capacity of 73.15 MW. The agreements were signed under Regulation 30 disclosure dated April 23, 2026, and pertain to concessions awarded under Feeder level Solarization and PM-KUSUM C Yojana.

Agreement Details

The power purchase agreements establish a long-term partnership between Madhav Infra Projects and the state government undertaking for solar power generation.

Project Scope

The company will generate electricity through solar power projects having a cumulative capacity of 73.15 MW and sell the energy to Madhya Pradesh Power Management Company Limited at the approved tariff ranging from ₹2.71 to ₹2.73 per unit for the entire project tenure. The agreements are in continuation of intimations submitted on December 29, 2025, and January 6, 2026.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The company confirmed that neither the promoters nor promoter group have any interest in the entity that awarded the contract, and the transaction does not fall within related-party transactions.