Madhucon Projects Limited has announced its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The board meeting, held on May 28, 2026, concluded that the financial statements have been prepared in accordance with Indian Accounting Standards, though the statutory auditors have issued a modified (qualified) opinion on the results.

The company’s financial performance reflects volatility in its operations. Revenue from operations for the quarter ended March 31, 2026, stood at 10,377.85 Lakhs, compared to 11,747.35 Lakhs in the previous quarter and 11,766.30 Lakhs in the corresponding quarter of the previous year. Profit after tax for the quarter was 89.59 Lakhs, a decrease from 539.22 Lakhs in the previous quarter, but an improvement compared to a loss of 1,056.56 Lakhs in the corresponding quarter last year.

Madhucon Projects Limited is primarily engaged in construction-project activities. Throughout 2025 and into 2026, the company has faced significant legal and financial headwinds, including investigations by the Enforcement Directorate and ongoing corporate insolvency resolution processes for several of its step-down subsidiaries, such as Ranchi Expressways Limited, Trichy-Thanjavur Expressways Limited, and Barasat-Krishnagar Expressways Limited. The auditor’s report highlights material uncertainties regarding the company’s ability to continue as a going concern, citing defaults in loan repayments, pending “No Objection Certificates” from banks following One-Time Settlement (OTS) agreements, and unverified carrying values of equity investments in subsidiaries.