Madhav Marbles & Granites Ltd.

BSE: MADHAV515093ISIN INE925C01016

Consumer Discretionary
Granites & Marbles

Share price

₹31.50-0.20 (-0.63%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹49.00
52W low: ₹27.68
Off 52W high: -35.71%
1M return: -7.54%
3M return: -11.89%
6M return: -17.15%
1Y return: -23.34%
20D avg volume: 815
50 DMA: ₹34.32
200 DMA: ₹36.78

Key ratios Consolidated

Market cap: ₹28.18 Cr
Current price: ₹31.50
52W high / low: ₹49.00 / ₹27.68
Face value: ₹10.00
P/E: -122.54
P/B: 0.23
EPS (TTM): ₹-0.26
Book value / share: ₹138.33
ROE: —
ROCE: 1.80%
Operating margin: —
Net margin: —
Debt / equity: 0.07
Net debt: ₹6.52 Cr
Interest cover: 1.50
Dividend yield: —
Dividend / share (TTM): —
Payout: —
Cash conversion cycle: 479.2 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24
Income statement
	7.91	9.24	6.60	6.84	8.03	7.67	6.85	5.93	10.61	—
	0.54	4.62	0.59	1.27	0.77	1.21	0.03	1.21	0.57	—
	8.45	13.86	7.19	8.12	8.79	8.88	6.83	7.14	11.18	—
	8.76	11.39	7.90	8.82	9.12	9.60	7.00	7.47	11.10	—
	2.95	2.69	3.71	2.59	2.54	2.79	1.68	2.92	3.25	—
	0.64	0.84	0.30	0.76	2.14	0.57	0.71	0.39	0.97	—
	1.85	2.01	1.81	1.80	1.37	2.10	2.04	1.80	2.01	—
	0.27	0.22	0.30	0.59	0.35	0.25	0.73	0.23	0.24	—
	0.69	0.73	0.83	0.62	0.72	0.82	0.47	0.50	0.77	—
	3.12	4.10	2.40	2.46	3.04	2.68	0.80	—	1.40	—
	-0.31	2.48	-0.72	-0.70	-0.33	-0.72	-0.17	-0.33	0.08	—
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—
	-0.31	2.48	-0.72	-0.70	-0.32	-0.72	-0.17	-0.33	0.08	—
	0.04	0.61	-0.03	0.01	0.04	0.07	0.15	0.01	0.11	—
	-0.80	1.49	-0.49	-0.44	-0.18	0.02	-0.33	-0.34	-0.03	—
	-0.89	1.67	-0.55	-0.49	-0.20	0.02	-0.36	-0.38	-0.04	—
Key metrics
	0.65	3.43	0.41	0.51	0.75	0.35	1.03	0.40	1.09	—
	8.20%	37.10%	6.20%	7.50%	9.30%	4.60%	15.00%	6.70%	10.30%	—
	-10.10%	16.10%	-7.40%	-6.40%	-2.20%	0.30%	-4.80%	-5.70%	-0.30%	—
	—	2.20%	—	-0.10%	—	-0.40%	—	—	—	—
	-1.50%	20.50%	-3.60%	15.30%	-24.30%	—	—	—	—	—
	-344.40%	7,350.00%	-48.50%	-29.40%	-500.00%	—	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	30.59	30.71	31.06	—
	7.02	7.25	2.97	—
	37.62	37.97	34.02	—
	36.87	37.23	35.17	—
	11.94	11.53	10.64	—
	2.54	4.04	2.64	—
	7.47	7.00	7.96	—
	1.38	1.46	1.45	—
	2.87	2.89	2.56	—
	12.08	12.01	10.32	—
	0.75	0.73	-1.15	—
	0.00	0.00	0.00	—
	0.75	0.73	-1.15	—
	0.63	0.64	0.34	—
	-0.24	0.39	-0.68	—
	-0.26	0.44	-0.76	—
Key metrics
	5.00	5.08	2.86	—
	16.35%	16.50%	9.20%	—
	-0.78%	1.30%	-2.20%	—
	—	1.80%	0.20%	—
	7.41%	-1.10%	—	—
	—	157.40%	—	—
	—	4.67	1.76	—
	—	13.31	-2.97	—
	—	0.07	0.10	—
	—	6.52	11.32	—
	—	479.2	394.7	—
Balance sheet
	—	137.17	139.08	—
	—	60.60	54.66	—
	—	1.43	0.39	—
	—	14.27	10.92	—
	—	31.42	26.27	—
	—	11.83	14.77	—
	—	21.91	25.27	—
	—	5.37	3.60	—
	—	14.90	15.62	—
	—	7.95	11.71	—
	—	7.26	10.44	—
	—	0.69	1.27	—
	—	118.08	118.25	—
Cash flow
	—	5.19	2.02	—
	—	1.07	3.06	—
	—	-5.22	-4.81	—
	—	0.52	0.26	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24
Income statement
	7.71	9.10	6.60	6.84	7.92	7.67	6.85	5.82	10.61	—
	0.87	5.08	1.04	1.72	1.20	1.62	0.36	1.53	1.03	—
	8.58	14.17	7.64	8.56	9.12	9.29	7.21	7.36	11.63	—
	8.43	11.23	7.79	8.52	8.92	9.56	6.46	7.31	11.07	—
	2.95	2.69	3.71	2.59	2.54	2.79	1.68	2.92	3.25	—
	0.51	0.73	0.30	0.76	2.04	0.57	0.72	0.32	0.97	—
	1.85	2.01	1.81	1.80	1.36	2.08	2.01	1.79	2.00	—
	0.15	0.22	0.19	0.30	0.24	0.25	0.24	0.16	0.24	—
	0.69	0.73	0.83	0.62	0.72	0.82	0.47	0.50	0.77	—
	3.05	4.07	2.40	2.45	3.03	2.66	0.78	—	1.39	—
	0.15	2.94	-0.15	0.04	0.20	-0.28	0.75	0.05	0.56	—
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—
	0.15	2.94	-0.15	0.04	0.20	-0.28	0.75	0.05	0.56	—
	0.04	0.61	-0.03	0.01	0.04	0.07	0.15	0.01	0.11	—
	0.11	2.32	-0.13	0.03	0.16	-0.34	0.60	0.04	0.45	—
	0.13	2.60	-0.14	0.03	0.18	-0.38	0.68	0.05	0.50	—
Key metrics
	0.99	3.89	0.87	0.96	1.16	0.79	1.46	0.71	1.57	—
	12.80%	42.70%	13.20%	14.00%	14.60%	10.30%	21.30%	12.20%	14.80%	—
	1.40%	25.50%	-2.00%	0.40%	2.00%	-4.40%	8.80%	0.70%	4.20%	—
	—	2.20%	—	0.20%	—	0.00%	—	—	—	—
	-2.70%	18.60%	-3.60%	17.50%	-25.40%	—	—	—	—	—
	-31.20%	782.40%	-121.70%	-25.00%	-64.40%	—	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	30.25	30.46	30.95	—
	8.71	9.03	4.54	—
	38.95	39.49	35.49	—
	35.97	36.47	34.40	—
	11.94	11.53	10.64	—
	2.30	3.82	2.57	—
	7.47	6.98	7.88	—
	0.86	0.95	0.89	—
	2.87	2.89	2.56	—
	11.97	11.96	10.26	—
	2.98	3.02	1.09	—
	0.00	0.00	0.00	—
	2.98	3.02	1.09	—
	0.63	0.64	0.34	—
	2.33	2.39	0.75	—
	2.62	2.67	0.84	—
Key metrics
	6.71	6.86	4.54	—
	22.18%	22.50%	14.70%	—
	7.70%	7.80%	2.40%	—
	—	2.80%	1.40%	—
	7.04%	-1.60%	—	—
	406.52%	218.70%	—	—
	—	3.49	-1.87	—
	—	1.68	-2.28	—
	—	0.05	0.08	—
	—	6.37	11.27	—
	—	493.1	404.5	—
Balance sheet
	—	157.21	156.86	—
	—	56.17	50.61	—
	—	1.25	0.12	—
	—	15.13	11.63	—
	—	31.39	26.27	—
	—	6.76	10.29	—
	—	20.86	24.22	—
	—	5.37	3.60	—
	—	14.36	15.18	—
	—	7.62	11.39	—
	—	6.93	10.12	—
	—	0.69	1.27	—
	—	140.18	138.01	—
Cash flow
	—	4.01	-1.71	—
	—	1.83	4.65	—
	—	-4.71	-2.90	—
	—	0.52	-0.16	—

Compounded growth

Standalone

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +7.04%
Profit YoY (TTM): +406.52%

Consolidated

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +7.41%
Profit YoY (TTM): +71.08%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 45.78%

Quarter	September 2026	June 2026
Promoter %	45.78%	45.77%

Holder	Type	Holding	Previous	Change
MADHAV DOSHI	Promoter Group	12.78%	12.78%	0.00%
ARUNA DOSHI	Promoter	9.24%	9.24%	0.00%
MUMAL MARKETING PRIVATE LIMITED	Promoter Group	8.75%	8.75%	0.00%
SANGEETHA S	Public	7.93%	7.93%	0.00%
RAJDARSHAN INDUSTRIES LIMITED	Promoter Group	4.73%	4.73%	0.00%
IEPF	Public	3.45%	3.45%	0.00%
ADHEERAJ TRADE LINKS PRIVATE LIMITED	Promoter Group	3.17%	3.17%	0.00%
SUMAL FINANCE AND INVESTMENT PRIVATE LIMITED	Promoter Group	2.63%	2.63%	0.00%
AKSHAT INVESTMENTS AND CONSULTANTS PRIVATE LIMITED	Promoter Group	1.97%	1.97%	0.00%
SANJAY RAMANLAL MUNOT	Public	1.37%	1.37%	0.00%
VEENA PARAKH	Public	1.12%	1.14%	-0.02%
Ravi Chawla	Public	1.07%	1.03%	+0.04%
KHUSHI PARAKH	Public	1.05%	1.05%	0.00%
RIDDHIMA DOSHI	Promoter Group	0.95%	0.94%	+0.01%
PREMA DOSHI	Promoter Group	0.66%	0.66%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Midwest Limited	3,697	1,005.15	32.13	13.70%	—	—	-9.71%
Pokarna Ltd.	2,526	678.85	17.13	10.70%	-18.43% TTM	-14.76% TTM	-24.32%
Global Surfaces Limited	99	22.61	-2.99	-2.20%	-0.93% TTM	-20.62% TTM	-81.35%
Pacific Industries ltd.	95	138.85	34.78	1.20%	-28.21% TTM	-59.71% TTM	-21.99%
Royal Cushion Vinyl Products Ltd. S	51	13.98	-4.50	2.20%	-14.54% TTM	-717.56% TTM	-35.64%
Elegant Marbles & Grani Industries S	48	160.00	19.66	3.80%	+21.09% TTM	-20.53% TTM	-26.35%
Oriental Trimex Limited S	38	4.75	17.59	3.10%	+23.35% TTM	-76.65% TTM	-51.58%
Aro Granite Industries Ltd. S	36	21.74	-1.72	1.60%	-40.40% TTM	-171.11% TTM	-39.85%
Madhav Marbles & Granites Ltd.	30	31.50	-122.54	1.80%	+7.41% TTM	+71.08% TTM	-23.34%

Filings & corporate actions

Recent announcements

Compliance Certificate - September 202614 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Intimation of Closure of Trading Window1 Oct 2026 · Insider Trading / SAST / Closure of Trading Window
SCRUTINIZER REPORT30 Sep 2026 · AGM/EGM / AGM
Proceedings of 37th AGM, Voting Results and Scrutinizer report30 Sep 2026 · AGM/EGM / AGM
Copy of Newspaper Publication- 37TH AGM scheduled on Wednesday, September 30, 2026 at 11.30 a.m.7 Sep 2026 · Company Update / Newspaper Publication
Dispatch of Letter to Shareholders whose email addresses are not registered with Company and RTA7 Sep 2026 · Company Update / General
Annual Report 2025-267 Sep 2026 · Others / Reg. 34 (1) Annual Report
37th Annual General Meeting on Wednesday, September 30, 20266 Sep 2026 · AGM/EGM / AGM
Newspaper Publication - Un-audited Results for quarter ended June 30, 202616 Aug 2026 · Company Update / Newspaper Publication
Outcome of Board meeting - Reappointment of Executive Directors and Independent Directors. Appointment of Internal Auditor13 Aug 2026 · Company Update / Change in Management
Un-audited Financial Results for the quarter ended June 30, 2025, Standalone and Consolidated13 Aug 2026 · Result / Financial Results
Outcome of Board Meeting13 Aug 2026 · Board Meeting / Outcome of Board Meeting
Madhav Marbles & Granites Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 13/08/2026 ,inter alia, to consider and approve 1. Unaudited Standalone ....5 Aug 2026 · Board Meeting / Board Meeting
Compliance Certificate for quarter ended June 30, 202617 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Scrutinizer Report6 Jul 2026 · AGM/EGM / EGM
Proceedings of EGM, Voting Results and Scrutunizer Report. EGM Held on Monday July 06, 20266 Jul 2026 · AGM/EGM / EGM
Intimation of Closure of Trading Window2 Jul 2026 · Insider Trading / SAST / Closure of Trading Window
NOTICE OF EGM - EGM DATE: MONDAY, JULY 06, 2026 TIME: 11.30 A.M.12 Jun 2026 · AGM/EGM / EGM
NOTICE OF EGM - EGM DATE: MONDAY, JULY 06, 2026 TIME: 11.30 A.M.12 Jun 2026 · AGM/EGM / EGM
Outcome of Board Meeting- Notice of EGM - July 06, 2026 at 11.30 a.m.12 Jun 2026 · Others / Outcome without intimation
AUDITED FINANCIAL RESULTS29 May 2026 · Result / Financial Results
OUTCOME OF BOARD MEETING29 May 2026 · Board Meeting / Outcome of Board Meeting
Madhav Marbles & Granites Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 29/05/2026 ,inter alia, to consider and approve Consideration and ....22 May 2026 · Board Meeting / Board Meeting
Format of Initial Disclosure to be made by an entity identified as a Large Corporate. <table border=''1px''><tr> <td>Sr. No.</td> <td>Particulars</td> <td>Details</td> ....30 Apr 2026 · Others / Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
Intimation of Change of Registered Office Address17 Apr 2026 · Company Update / Change in Registered Office Address
OUTCOME OF BOARD MEETING. The board approved Shifting of Registered office of the Company.17 Apr 2026 · Board Meeting / Outcome of Board Meeting
Compliance Certificate for quarter ended March 31, 202615 Apr 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
The Board Meeting to be held on 16/04/2026 has been revised to 17/04/2026 The Board Meeting to be held on 16/04/2026 has been revised to 17/04/202613 Apr 2026 · Board Meeting / Board Meeting
Madhav Marbles & Granites Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 16/04/2026 ,inter alia, to consider and approve With reference to ....13 Apr 2026 · Board Meeting / Board Meeting
Closure of Trading Window27 Mar 2026 · Insider Trading / SAST / Closure of Trading Window
Outcome of Board Meeting: Acquisition of Stake in Subsidiary25 Mar 2026 · Company Update / Meeting Updates
Outcome of Board Meeting25 Mar 2026 · Board Meeting / Outcome of Board Meeting
Madhav Marbles & Granites Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 25/03/2026 ,inter alia, to consider and approve With reference to ....19 Mar 2026 · Board Meeting / Board Meeting
Outcome of Board Meeting- Approval of sending Loan to Madhav Surfaces FZC LLC , Related Party5 Mar 2026 · Company Update / Meeting Updates
Outcome of Board Meeting5 Mar 2026 · Board Meeting / Outcome of Board Meeting
Madhav Marbles & Granites Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 05/03/2026 ,inter alia, to consider and approve Entering into Related ....28 Feb 2026 · Board Meeting / Board Meeting
Rectification of Typographical Error - Serial Nos correctly specified11 Feb 2026 · Company Update / General
Financial Results- Unaudited Standalone and Consolidated11 Feb 2026 · Result / Financial Results
Outcome of Board Meeting11 Feb 2026 · Company Update / General
Outcome of Board Meeting11 Feb 2026 · Board Meeting / Outcome of Board Meeting

Board meetings

13 Aug 2026 Board Meeting - Financial Results