Madhav Marbles and Granites share price & results
- Jun 2026
- Jun 2026
Udaipur-based processor and exporter of granite, marble and other natural stone, with an Oman joint venture manufacturing engineered/artificial stone slabs.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 7.7 | −2.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 1.6 | +2.1 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 0.11 | −31.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | -1.81 | −0.9 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 28.69 | +22.3 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 7.41 | +21.0 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance −26.3% 1Y
1Y: ₹44 on 24 Oct 2025 → ₹32.42. High ₹44 (24 Oct 2025), low ₹29.7 (27 Mar 2026).
- Previous close
- ₹30.08
- Market cap
- ₹30 Cr
- 52-week range
- ₹29.7 – ₹43.99
- One year
- −24.13%
- Return on equity (TTM to Jun 2026)
- -1.81%
Overview
- Symbol
- NSE:MADHAV
- Sector
- Consumer Durables
- Industry
- Consumer Discretionary
- Exchange
- NSE
- Currency
- INR
What Madhav Marbles and Granites Limited does
Based on the company's own presentations, annual report and earnings calls.
Madhav Marbles and Granites Limited processes and sells granite, marble and other natural stone, historically with a significant share going to export markets, alongside domestic sales. Through its subsidiary Madhav Ashok Ventures Private Limited (60% held), it trades granite and other natural stone within India. Madhav Ashok Ventures is also a key partner in Madhav Surfaces (FZC) LLC, a joint venture in Oman that operates a manufacturing facility for artificial/engineered stone slabs, in which the parent company additionally holds a direct 13.33% stake. A separate subsidiary, Madhav Natural Stone Surfaces Private Limited (81.99% held), had planned to acquire quartz mining leases and set up a quartz-powder processing unit, though these plans have been deferred.
Segments
- Granite & marble processing/export (parent)
- Granite trading (India)
- Engineered/artificial stone slabs (Oman)
- Natural stone surfaces / quartz
- Geographic footprint
- India (processing/trading) and Oman (JV manufacturing facility)
- Subsidiaries & associate entities
- 3 (Madhav Ashok Ventures Pvt Ltd - India; Madhav Natural Stone Surfaces Pvt Ltd - India; Madhav Surfaces (FZC) LLC - Oman, JV)
- Oman JV manufacturing facility
- Artificial/engineered stone slab manufacturing (Madhav Surfaces FZC LLC)
- Stake in Madhav Ashok Ventures Pvt Ltd (India, granite trading subsidiary)
- 60%
- Stake in Madhav Natural Stone Surfaces Pvt Ltd (India)
- 81.99%
- Direct stake acquired in Madhav Surfaces (FZC) LLC, Oman (FY25)
- 13.33%
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: −31% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 6 | 7 | 8 | 8 | 7 | 7 | 9 | 8 |
| Expenses | 7 | 6 | 8 | 8 | 8 | 7 | 10 | 8 |
| Operating profit | -1 | 1 | -1 | -0 | -1 | -0 | -1 | 0 |
| Operating margin | −14.3% | 16.1% | −10.7% | −0.5% | −11.1% | −2.7% | −13.2% | 1.6% |
| Other income | 2 | 0 | 2 | 1 | 2 | 1 | 5 | 1 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 0 | 1 | -0 | 0 | 0 | -0 | 3 | 0 |
| Tax rate | 20.0% | 20.0% | 25.9% | 20.0% | 25.0% | −18.8% | 21.2% | 26.7% |
| Net profit | 0 | 1 | -0 | 0 | 0 | -0 | 2 | 0 |
| EPS (₹ per share) | 0.04 | 0.67 | -0.38 | 0.18 | 0.03 | -0.15 | 2.59 | 0.12 |
| Line item | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Sales | 40 | 31 | 30 |
| Expenses | 41 | 31 | 33 |
| Operating profit | -1 | -0 | -2 |
| Other income | 5 | 5 | 9 |
| Interest | 1 | 1 | 1 |
| Depreciation | 3 | 3 | 3 |
| Profit before tax | 0 | 1 | 3 |
| Net profit | 0 | 1 | 2 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 9 | 9 | 9 | 9 | 9 | 9 |
| Reserves | 128 | 128 | 128 | 129 | 115 | 131 |
| Borrowings | 7 | 8 | 13 | 11 | 10 | 8 |
| Other liabilities | 10 | 9 | 7 | 7 | 5 | 9 |
| Total liabilities | 153 | 155 | 158 | 157 | 139 | 157 |
| Fixed assets | 29 | 29 | 27 | 24 | 24 | 21 |
| Capital work in progress | 0 | 0 | 0 | 0 | 3 | 0 |
| Investments | 2 | 3 | 3 | 3 | 0 | 8 |
| Other assets | 122 | 122 | 128 | 129 | 112 | 128 |
| Total assets | 153 | 155 | 158 | 157 | 139 | 157 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | -2 | 1 | 3 | -6 | -2 | 4 |
| Cash from investing | 4 | -1 | -4 | 1 | 5 | 2 |
| Cash from financing | 0 | -4 | 1 | 4 | -3 | -5 |
| Net cash flow | 3 | -3 | -0 | -0 | 0 | 1 |
| Free cash flow | -2 | 0 | -2 | -6 | -2 | 8 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 116 | 96 | 102 | 137 | 137 | 181 |
| Inventory days | 293 | 463 | 508 | 510 | 754 | 838 |
| Days payable | 66 | 69 | 84 | 60 | 103 | 143 |
| Cash conversion cycle | 342 | 491 | 526 | 587 | 788 | 876 |
| Working capital days | 270 | 294 | 330 | 355 | 416 | 486 |
| Return on capital employed | 3.3% | 1.7% | 0.6% | 0.6% | 1.2% | 0.6% |
| Dividend payout | 10.4% | 11.5% | 0.0% | 0.0% | 0.0% | 0.0% |
Where revenue comes from
The businesses behind the company’s reported revenue.
GRANITE AND STONE DIVISION contributes 83.7% of reported segment revenue.
Quarter ended 30 Jun 2026 · Consolidated
- GRANITE AND STONE DIVISION 83.7%
₹6.92 crore
- POWER GENERATION UNIT 16.3%
₹1.35 crore
- REALTY DIVISION 0.0%
₹0.00 crore
- UNALLOCATED 0.0%
₹0.00 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| GRANITE AND STONE DIVISION | 6.92 | 83.7% |
| POWER GENERATION UNIT | 1.35 | 16.3% |
| REALTY DIVISION | 0.00 | 0.0% |
| UNALLOCATED | 0.00 | 0.0% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
How these numbers add up
- Total segment revenue
- ₹8.27 crore
- Intersegment adjustment
- ₹0.36 crore
- Net segment revenue
- ₹7.91 crore
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
How the mix has moved
GRANITE AND STONE DIVISION shrank from 97% to 84% of revenue over the last two years.
| Segment | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Jun 2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| GRANITE AND STONE DIVISION | 97% | 93% | 98% | 95% | 86% | 93% | — | 84% | -4.2% |
| POWER GENERATION UNIT | — | — | — | 5% | — | 7% | — | 16% | — |
| REALTY DIVISION | 0% | 0% | 0% | 0% | 0% | 0% | — | 0% | — |
| UNALLOCATED | 0% | — | 0% | 0% | 0% | 0% | 0% | 0% | — |
Share of reported segment revenue by quarter, consolidated basis, as filed. A quarter the company did not report is left blank, never carried forward.
See how segments are shifting across companies → Segment Shift
Ownership
Who owns it
Public hold 53.65% as of Jun 2026; institutions added 0.00 pts since Mar 2026.
- Promoters 45.77%
- Foreign institutions 0.00%
- Domestic institutions 0.59%
- Public 53.65%
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- newly disclosed 1.03% held
- +0.22 pp 12.78% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Madhav Marbles and Granites Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| 12.78% | +0.22 pp | |
| 9.24% | unchanged | |
| 8.75% | unchanged | |
| 7.93% | unchanged | |
| 4.73% | unchanged | |
| 3.45% | unchanged | |
| 3.17% | unchanged | |
| 2.63% | unchanged | |
| 1.97% | unchanged | |
| 1.37% | unchanged | |
| 1.14% | unchanged | |
| 1.05% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
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