Madhur Industries Ltd (MADHURFOOD)
🎯 Key Takeaways
- Madhur Industries Ltd appears to be in a severe distress phase, marked by persistent losses, negative ROE and ROCE, and near-zero revenue generation. The company has not reported meaningful operations in recent quarters, with financials showing minimal activity and mounting losses per share.
- ⚠️ 1) Persistent operational shutdown with no revenue visibility or turnaround plan. 2) Negative profitability metrics with no signs of improvement. 3) A
- Market Cap
- ₹2
- P/B Ratio
- 0.62
- ROE
- -8.1%
- ROCE
- -5.7%
- Debt/Equity
- 0.00
- Promoter
- 34.4%
📖 The Story
Madhur Industries Ltd appears to be in a severe distress phase, marked by persistent losses, negative ROE and ROCE, and near-zero revenue generation. The company has not reported meaningful operations in recent quarters, with financials showing minimal activity and mounting losses per share. There is no indication of operational revival or strategic transformation underway.
📰 What's Happening
Management has not announced any new orders, expansions, or strategic initiatives in recent filings. There are no indications of new product launches, capacity additions, or partnerships. The company continues to operate with negligible revenue and no visible turnaround catalysts. Shareholding patterns show no significant changes in institutional interest, with FII and DII holdings remaining near zero.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 |
| Operating Profit | -0 | -0 | -0 | -0 | -0 |
| OPM % | — | — | — | — | — |
| Net Profit | -0 | -0 | -0 | -0 | -0 |
| EPS | ₹-0.07 | ₹-0.19 | ₹-0.36 | ₹-0.05 | ₹-0.14 |
The company has consistently reported near-zero revenue and negative net profits across all recent quarters, with EPS declining from -₹0.07 to -₹0.14 over the past year. This trajectory reflects a business that is not generating sustainable cash flows and is burning cash despite minimal operations. The lack of revenue recovery suggests the core business has not stabilized.
🔮 Management Outlook & What's Next
There is no available forward guidance or explicit outlook from management in the latest filings. Previous disclosures have not included detailed projections or strategic roadmaps, and no new commentary on future performance was provided in the most recent regulatory submissions.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 |
| Reserves | 0 | 0 | -0 | -0 |
| Borrowings | 0 | 0 | 0 | 0 |
| Total Liabilities | 5 | 6 | 4 | 4 |
| Fixed Assets | 0 | 0 | 0 | 0 |
| Investments | 0 | 4 | 1 | 1 |
| Total Assets | 5 | 6 | 4 | 4 |
The balance sheet shows a significant contraction in total assets from ₹5 crore to ₹4 crore, with equity remaining flat at ₹4 crore and no debt exposure. This suggests asset reduction without a clear path to profitability, raising concerns about capital efficiency and long-term viability.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | -4 |
| Investing | +6 |
| Financing | 0 |
| Net Cash Flow | +2 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 34.4% | 34.4% | 34.4% | 34.4% |
| FII | 0.0% | 0.0% | 0.0% | 0.0% |
| DII | 0.1% | 0.1% | 0.1% | 0.1% |
| Public | 60.7% | 60.7% | 61.7% | 61.6% |
| # Shareholders | 3,687 | 3,687 | 3,658 | 3,643 |
Promoter holding remains stable at 34.36%, but institutional investor interest is virtually absent, with FII and DII holdings negligible and unchanged. The lack of institutional accumulation signals low confidence from the broader investment community, and the growing number of shareholders with minimal trading activity may indicate retail fragmentation without conviction.
⚖️ Peer Comparison — FMCG
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| HINDUNILVR | 4.39 L Cr | 29.3 | 29.8% | — | 0.00 |
| ITC | 3.32 L Cr | 16.7 | 36.0% | — | 0.03 |
| NESTLEIND | 2.58 L Cr | 67.6 | 99.2% | — | 0.00 |
| VBL | 1.45 L Cr | 43.0 | 21.5% | — | 0.10 |
| LENSKART | 1.17 L Cr | 176.0 | 11.9% | — | 0.03 |
| BRITANNIA | 1.16 L Cr | 44.7 | 54.1% | — | 0.27 |
| MARICO | 1.03 L Cr | 54.4 | 54.2% | — | 0.08 |
| TATACONSUM | 95,699 | 58.5 | 10.2% | — | 0.10 |
| GODREJCP | 87,631 | 45.8 | 17.8% | — | 0.33 |
| DABUR | 67,419 | 34.2 | 21.3% | — | 0.09 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1) Persistent operational shutdown with no revenue visibility or turnaround plan. 2) Negative profitability metrics with no signs of improvement. 3) Absence of institutional ownership may limit liquidity and price discovery. 4) Potential regulatory or compliance risks given the scale and inactivity of operations.
📋 Recent Filings
- 🟡 Board Meeting2026-09-30Madhur Industries held its 53rd Annual General Meeting on 30 September 2026 in Ahmedabad, where shareholders approved the audited financial statements…
- Announcement2026-09-30Madhur Industries Ltd announced the closure of its trading window effective October 1, 2026, until 48 hours after releasing unaudited Q2 results for S…
- 🟡 Board Meeting2026-09-07Madhur Industries announced its 53rd Annual General Meeting will be held on Wednesday, 30 September 2026 at 302, Narayan Krupa Square, Off Ashram Road…
- 🟡 Board Meeting2026-09-05Madhur Industries Ltd announced its 53rd Annual General Meeting will be held on Wednesday, September 30, 2026 at 302, Narayan Krupa Square, Ahmedabad-…
- 🟡 Board Meeting2026-09-05Madhur Industries Ltd announced that its share register and transfer books will remain closed from September 24 to 30, 2026, to determine shareholders…
- 🔴 annual report2026-09-05Madhur Industries Ltd (MADHURFOOD) filed its 53rd Annual Report for FY 2025-26 with BSE on September 5, 2026. The Annual General Meeting (AGM) is sche…
🧠 Analyst's Read
The company is currently in a non-operational state with no clear path to recovery, making it a high-risk entity with limited upside potential. Investors should monitor for any signs of operational restart or strategic restructuring, but no such indicators are currently present.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-30.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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