Madhav Marbles & Granites reported a 218% year-on-year surge in standalone net profit to ₹23.88 crore for the financial year ended March 31, 2026, compared to ₹7.51 crore in the previous fiscal.

While revenue from operations contracted slightly by 1.6% to ₹304.62 crore, the company delivered a robust EBITDA of ₹68.65 crore, up significantly from ₹45.44 crore in FY25.

The profit growth was largely driven by a sharp increase in other income, which nearly doubled to ₹90.26 crore from ₹45.39 crore, aided by the disposal of non-core windmill assets.

Financial Performance

The company's operational efficiency improved despite a challenging global natural stone market characterized by geopolitical uncertainties and higher logistics costs.

Consolidated results showed a net loss of ₹3.59 crore for the year, compared to a consolidated net loss of ₹14.84 crore in the previous year, indicating an improvement in the group's overall financial position.

What the Numbers Show

Other income constituted approximately 30% of the company's total income in FY26, rising to ₹90.26 crore from ₹45.39 crore in FY25. This significant jump was primarily due to gains from the sale of fixed assets, including a windmill unit, which contributed ₹34.84 crore to the bottom line. This highlights that the profit surge was driven more by asset rationalization than core operating margins alone.

Strategic Developments

During the year, Madhav Marbles focused on portfolio rationalization. The board approved the sale of one of its wind electric generators to Mahalakshmi Green Power Private Limited as part of its strategy to optimize capital allocation.

The company also strengthened its subsidiary structure by acquiring the remaining stake in Madhav Natural Stone Surfaces Private Limited (MNSSPL), making it a wholly owned subsidiary. MNSSPL is now being utilized for a real estate project on land it already owns, shifting focus from an unviable engineered stone plan.

Additionally, the company moved to make Madhav Ashok Ventures Private Limited (MAVPL) a wholly owned subsidiary by approving the acquisition of an additional 40% equity stake.

Auditor Qualification

Statutory auditors Nyati & Associates issued a qualified opinion on the standalone financial statements. The qualification relates to the lack of impairment assessment on investments and loans extended to subsidiaries MAVPL and MNSSPL, whose net worth has been fully eroded. Management believes these conditions are temporary and cyclical, asserting that the carrying value of these investments is recoverable based on future cash flows and strategic potential.

Madhav Marbles and Granites Limited has published its unaudited standalone and consolidated financial results for the first quarter ended June 30, 2026. The disclosure was made via newspaper publication as per regulatory requirements.

The company published the extracts of its financial results in Financial Express (English) and Jai Rajasthan (Hindi) on Saturday, August 15, 2026. This filing serves as the official public record for the quarter's performance.

Regulatory Compliance

The publication was communicated to both BSE Limited and National Stock Exchange of India Limited on August 16, 2026. The notice was signed by Priyanka Manawat, Company Secretary & Compliance Officer.

As this is a notice of publication rather than a detailed earnings release, specific financial metrics such as revenue, net profit, or EBITDA are not disclosed in this document. Investors are advised to refer to the full newspaper publications or subsequent detailed filings for granular financial data.