Madhav Infra Projects Limited has secured multiple Letters of Award from M.P. Urja Vikas Nigam Limited (MPUVNL) for implementing Grid Connected Solar PV Power Plants worth approximately ₹342.00 crores. The contract falls under the PM KUSUM-C Scheme, specifically the Surya Mitra Krishi Feeders Scheme with feeder solarization component. The company disclosed this development in compliance with SEBI Regulation 30 requirements.

Project Overview

The awarded contract involves the implementation of Grid Connected Solar PV based Power Plants. The generated power will be sold to Madhya Pradesh Paschim Kshetra Vidyut Vitaran Company Limited (MPPMCL).

Contract Details

The key parameters of this significant contract award are outlined below:

Regulatory Compliance

MPUVNL, being a Government of Madhya Pradesh enterprise, awarded this domestic contract following proper procedures. The company has confirmed that:

• No promoter group or group companies have any interest in the awarding entity
• The contract does not fall within related-party transactions
• All disclosure requirements under SEBI regulations have been fulfilled

Business Implications

This contract represents a substantial addition to Madhav Infra Projects Limited's order book, reinforcing the company's position in the renewable energy infrastructure sector. The 18-month execution timeline provides a clear roadmap for project completion, with the Power Purchase Agreement signing marking the official commencement of the implementation phase.

The project aligns with India's renewable energy initiatives, particularly the PM KUSUM scheme aimed at promoting solar power adoption in the agricultural sector through feeder solarization components.

Madhav Infra Projects Limited , a key player in infrastructure development, has announced its financial results for the second quarter and half-year ended September 30, 2025. The company's board of directors approved the standalone and consolidated unaudited financial results in a meeting held on November 10, 2025.

Financial Highlights

Standalone Performance

Madhav Infra Projects Limited reported a standalone net profit of ₹5.78 crore for the quarter ended September 30, 2025, showing a slight increase from ₹5.72 crore in the corresponding quarter of the previous year. The company's revenue from operations for Q2 FY26 stood at ₹104.31 crore, up from ₹87.63 crore in Q2 FY25, indicating a growth of 19.03% year-on-year.

For the half-year ended September 30, 2025, the company's standalone net profit rose to ₹12.72 crore, compared to ₹11.75 crore in the same period last year. The revenue from operations for H1 FY26 increased to ₹188.76 crore from ₹145.70 crore in H1 FY25, marking a growth of 29.55%.

Consolidated Performance

On a consolidated basis, Madhav Infra Projects Limited reported a net profit of ₹12.46 crore for Q2 FY26, significantly higher than the standalone figures. This includes the performance of its subsidiaries, associates, and joint ventures.

Operational Highlights

The company's board meeting, which commenced at 1:30 PM and concluded at 4:00 PM on November 10, 2025, also approved other matters related to the normal course of business. The financial statements were prepared in accordance with Indian Accounting Standard 34 (IndAS 34) for Interim Financial Reporting.

Auditor's Review

Shah & Kadam, Chartered Accountants, the company's statutory auditors, conducted a limited review of the financial results. The auditors noted attention to the non-ascertainment and non-provision of Deferred Tax Liability as per IndAS 12 Income Taxes in their review report.

Future Outlook

While the company has shown growth in both revenue and profit, it's important to note that these results are unaudited and subject to limited review. Investors and stakeholders should consider this information in conjunction with the full financial statements and auditor's report when making decisions.

Madhav Infra Projects Limited continues to focus on infrastructure development projects, including construction, operation, and maintenance. The company's diverse portfolio, which includes power generation businesses such as solar and hydro, may contribute to its overall performance in the coming quarters.

As the infrastructure sector plays a crucial role in India's economic growth, companies like Madhav Infra Projects Limited are well-positioned to capitalize on upcoming opportunities in the sector.