Madhucon Projects clarifies director resignation

Madhucon Projects Limited provides clarification on the resignation of Independent Director Mrs. Ch. Lakshmi Kumari, which was accepted by the board on November 8, 2025.

Madhucon Projects Limited Completes Board Restructuring with Director Changes

Madhucon Projects Limited accepted the resignation of Independent Director P. Madhava Rao due to personal reasons and appointed two new directors - Sambasiva Rao Jasty as additional director and Turlapati Venkata Sundara Jawaharlal Nehru as Independent Director for a 5-year term. The board changes were approved on August 9, 2025, affecting the company's governance structure and requiring shareholder approval at the upcoming Annual General Meeting.

Madhucon Projects Reports Rs 469.40 Lakh Profit in Q2 Despite Auditor Concerns Over Subsidiary Investments

Madhucon Projects Limited reported a standalone profit of Rs 469.40 lakh for the quarter ended September 30, 2025, compared to a loss of Rs 240.13 lakh in the same period last year. Revenue from operations declined to Rs 10,765.01 lakh from Rs 16,280.56 lakh year-on-year. The company's Board accepted the resignation of Independent Director Mrs. Ch. Lakshmi Kumari effective November 8, 2025. Auditors raised significant concerns about the carrying value of equity investments worth Rs 53,408.43 lakh in subsidiaries, noting that some subsidiaries have eroded net worth and going concern issues. The company wrote off investments of Rs 7,637.67 lakh in subsidiary Madhucon Infra Limited and Rs 738.01 lakh in step-down subsidiary Madurai Tuticorin Expressways Limited during the quarter. Several step-down subsidiaries including Ranchi Expressways, Trichy-Thanjavur Expressways, and Barasat-Krishnagar Expressways are undergoing Corporate Insolvency Resolution Process. The Enforcement Directorate has provisionally attached properties worth Rs 176.86 crore belonging to the Madhucon Group in connection with a case against Ranchi Expressway Limited.

Madhucon Projects Limited Reports Rs 31.44 Crore Principal Default on Bank Loans

Madhucon Projects Limited disclosed defaults on loan payments for the quarter ended September 30, 2025. The company reported a principal default amount of Rs 31.44 crore with no interest defaults. The total outstanding amount for fund-based loans stands at Rs 31.44 crore, representing a complete default on this amount. The company's total financial indebtedness including short-term and long-term debt amounts to Rs 185.25 crore. The default involves secured loans from OBC/Punjab National Bank. The disclosure was made on October 1, 2025, covering both fund and non-fund based obligations.