Madhav Marbles and Granites Limited reported a standalone net profit of ₹23.88 crore for the year ended March 31, 2026, an increase from ₹7.51 crore in the previous year. Revenue from operations for the fiscal year stood at ₹3046.24 crore, slightly lower than ₹3094.89 crore in FY25. The board approved the audited standalone and consolidated financial results for FY26 in a meeting held on May 29, 2026.

The board approved the acquisition of an additional 40% equity stake in Madhav Ashok Ventures Private Limited, an existing subsidiary, increasing the company's shareholding from 60% to 100%. The acquisition will be executed in tranches and is subject to definitive agreements and necessary approvals. Additionally, the board approved investment or financial assistance of up to INR 10 Crore in its overseas associate, Madhav Surfaces FZC LLC, to support working capital and operational expenses.

The board also approved the extension of the repayment period for loans granted to two subsidiaries. The loan repayment timeline for Madhav Natural Stone Surfaces Private Limited was extended by one year effective from April 01, 2026, while the repayment period for Madhav Ashok Ventures Private Limited was extended by two years from the same date. Both extensions are subject to shareholder and regulatory approvals. The outstanding loan balance for Madhav Natural Stone Surfaces Private Limited is INR 6.00 Crore including interest, and for Madhav Ashok Ventures Private Limited is INR 23.80 Crore including interest.

M/s Nyati & Associates, Chartered Accountants, the Statutory Auditors, issued their report with a modified opinion on the audited standalone and consolidated financial results. The auditors noted that the company had not carried out impairment assessments for investments and loans in subsidiaries Madhav Ashok Ventures Private Limited and Madhav Natural Stone Surfaces Private Limited, and associate Madhav Surfaces FZC LLC, where net worth had been fully eroded due to continued losses.

The statutory auditors also highlighted in the consolidated report that a subsidiary, Madhav Ashok Ventures Private Limited, may be required to register as a Non-Banking Financial Company (NBFC) but had not obtained such registration as of the balance sheet date. Another subsidiary, Madhav Natural Stone and Surface Private Limited, had not made provisions for abandoned capital work-in-progress aggregating to ₹2.43 crore.

Madhav Marbles and Granites Limited has announced that its board of directors will meet on Friday, May 29, 2026. The meeting has been convened to discuss and approve key financial and administrative matters.

The primary agenda item is the consideration and approval of the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. This will provide a comprehensive view of the company's performance for the full fiscal year.

Agenda Details

The board will also deliberate on related party transactions. Specifically, the directors will discuss the continuation or renewal of loans extended to the company's subsidiaries. Furthermore, approval will be sought regarding investments in the equity shares of an overseas associate company.

The intimation was filed with the stock exchanges on May 22, 2026. Shareholders and market participants can expect the official announcement of the financial results shortly after the conclusion of the board meeting.