Madhav Marbles and Granites Ltd: Intrinsic Value & Share Price Analysis

Q: What is the current share price and 52-week range of Madhav Marbles and Granites Ltd?

Madhav Marbles and Granites Ltd is trading at 38.90 as of 26 April 2026, with a FY2026-2027 high of 54.0 and low of 29.0. The stock is currently in the middle of its 52-week range. Market cap stands at 34.8 Cr..

Q: Is Madhav Marbles and Granites Ltd financially healthy?

Key indicators: ROCE of 0.12 % is on the lower side. Dividend yield is 0.00 %.

Q: Is Madhav Marbles and Granites Ltd profitable and how is the profit trend?

Madhav Marbles and Granites Ltd reported a net profit of -1 Cr in Mar 2025 on revenue of 31 Cr. Compared to -5 Cr in Mar 2022, the net profit shows a mixed trend.

Fair Value

₹10.13Overvalued by 73.96%vs CMP ₹38.90

P/E (15.0) × ROE (0.6%) × BV (₹138.00) × DY (2.00%)

Defaults: P/E=15

₹41.93Fairly Valued by 7.79%vs CMP ₹38.90

MoS: +7.2% (Thin)Confidence: 49/100 (Moderate)Models: 1 Under, 4 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹14.25	34%	Over (-63.4%)
Net Asset Value	Assets	₹138.27	20%	Under (+255.4%)
EV/EBITDA	Enterprise	₹11.11	17%	Over (-71.4%)
ROCE Capital	Returns	₹13.23	14%	Over (-66%)
Revenue Multiple	Revenue	₹34.72	15%	Over (-10.7%)
Consensus (5 models)		₹41.93	100%	Fairly Valued

Key Drivers: EPS CAGR 40.6% lifts DCF — verify sustainability. | ROE 0.6% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 40.6% · Defaults: P/E=15

*Investments are subject to market risks

Analyst Summary

Madhav Marbles and Granites Ltd operates in the Granites/Marbles segment, current market price is ₹38.90, market cap is 34.8 Cr.. At a glance, ROE is 0.60 %, ROCE is 0.12 %, book value is 138, dividend yield is 0.00 %. The latest intrinsic value estimate is ₹41.93, which is about 7.8% above the current price, so the page currently reads as potentially undervalued rather than fully priced. On operating trend, latest reported sales are about ₹31 Cr versus the prior period change of -22.2%, while latest net profit is about ₹-1 Cr with a prior-period change of 35.9%. The 52-week range shown on this page is 54.0/29.0, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisMadhav Marbles & Granites Ltd. is a Public Limited Listed company incorporated on 07/04/1989 and has its registered office in the State of Rajasthan, India. Company's Corporate Identification Number(C…

This summary is generated from the stock page data available for Madhav Marbles and Granites Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

Madhav Marbles and Granites Ltd scores 32/100 (Weak)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health38/100 · Weak

ROCE 0.1% WeakROE 0.6% WeakD/E 0.07 Low debtInterest Coverage 0.0x RiskyProfitable 0/5 years Inconsistent

Smart Money75/100 · Strong

FII holding stable No changeDII holding up 0.59% MF buyingPromoter increased by 0.60% Positive

Earnings Quality30/100 · Weak

OPM contracting (3% → -1%) DecliningWorking capital: 454 days Capital intensive

Quarterly Momentum15/100 · Weak

Revenue (4Q): -17% YoY DecliningProfit (4Q): -243% YoY DecliningOPM: -2.7% (down 18.2% YoY) Margin pressure

Industry Rank20/100 · Weak

ROCE 0.1% vs industry 15.2% Below peersROE 0.6% vs industry 30.5% Below peers3Y sales CAGR: -17% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 25, 2026, 11:14 pm

Market Cap	34.8 Cr.
Current Price	38.9
Intrinsic Value	₹41.93
High / Low	54.0/29.0
Stock P/E
Book Value	138
Dividend Yield	0.00 %
ROCE	0.12 %
ROE	0.60 %
Face Value	10.0
PEG Ratio	0.00

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Madhav Marbles and Granites Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Inani Marbles & Industries Ltd	22.0 Cr.	11.8	23.9/8.33		28.9	0.34 %	4.07 %	1.27 %	2.00
Global Surfaces Ltd	253 Cr.	59.6	145/43.7		69.9	0.00 %	1.97 %	9.08 %	10.0
Glittek Granites Ltd	116 Cr.	44.6	80.2/5.10	4.56	4.36	0.00 %	115 %	280 %	5.00
Elegant Marbles and Grani Industries Ltd	60.8 Cr.	205	274/133	15.9	492	0.49 %	3.62 %	2.93 %	10.0
Divyashakti Ltd	53.6 Cr.	52.2	75.0/44.5	36.9	194	3.83 %	2.18 %	1.58 %	10.0
Industry Average	1,056.33 Cr	135.93		39.31	180.54	0.43%	15.18%	30.50%	8.09

All Competitor Stocks of Madhav Marbles and Granites Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	9.20	11.61	11.14	10.66	6.50	11.59	10.60	5.93	6.85	7.67	8.03	6.84	6.60
Expenses	10.12	11.02	10.41	11.33	8.12	10.96	10.08	6.74	5.79	8.53	8.05	7.62	6.78
Operating Profit	-0.92	0.59	0.73	-0.67	-1.62	0.63	0.52	-0.81	1.06	-0.86	-0.02	-0.78	-0.18
OPM %	-10.00%	5.08%	6.55%	-6.29%	-24.92%	5.44%	4.91%	-13.66%	15.47%	-11.21%	-0.25%	-11.40%	-2.73%
Other Income	1.66	0.58	0.58	0.89	0.83	1.38	0.57	1.21	-0.03	1.21	0.77	1.28	0.59
Interest	0.55	-0.23	0.29	0.70	0.41	0.38	0.24	0.23	0.74	0.25	0.35	0.59	0.30
Depreciation	1.03	1.27	0.76	0.64	0.64	0.74	0.77	0.50	0.47	0.82	0.72	0.62	0.83
Profit before tax	-0.84	0.13	0.26	-1.12	-1.84	0.89	0.08	-0.33	-0.18	-0.72	-0.32	-0.71	-0.72
Tax %	0.00%	-553.85%	61.54%	-10.71%	-2.17%	11.24%	137.50%	3.03%	83.33%	9.72%	12.50%	1.41%	-4.17%
Net Profit	-1.70	0.42	0.02	-0.77	-2.15	1.45	-0.03	-0.34	-0.32	0.02	-0.18	-0.44	-0.49
EPS in Rs	-1.90	0.47	0.02	-0.86	-2.40	1.62	-0.03	-0.38	-0.36	0.02	-0.20	-0.49	-0.55

Last Updated: March 4, 2026, 12:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 10:16 pm

Metric	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	76.96	60.31	62.02	53.36	47.23	39.90	31.06	29.14
Expenses	69.78	57.93	59.05	51.27	46.66	40.83	31.09	30.98
Operating Profit	7.18	2.38	2.97	2.09	0.57	-0.93	-0.03	-1.84
OPM %	9.33%	3.95%	4.79%	3.92%	1.21%	-2.33%	-0.10%	-6.31%
Other Income	4.89	6.72	3.40	4.15	4.12	3.68	2.91	3.85
Interest	1.30	1.25	0.88	0.84	0.98	1.77	1.46	1.49
Depreciation	4.76	4.89	4.62	4.86	4.72	2.79	2.56	2.99
Profit before tax	6.01	2.96	0.87	0.54	-1.01	-1.81	-1.14	-2.47
Tax %	23.29%	32.09%	28.74%	14.81%	-28.71%	5.52%	29.82%
Net Profit	4.61	2.00	-0.43	-5.11	-3.84	-2.31	-1.48	-1.09
EPS in Rs	5.15	2.24	-0.48	-5.71	-4.29	-1.62	-0.76	-1.22
Dividend Payout %	4.85%	0.00%	-104.07%	-4.38%	0.00%	0.00%	0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	-56.62%	-121.50%	-1088.37%	24.85%	39.84%	35.93%
Change in YoY Net Profit Growth (%)	0.00%	-64.88%	-966.87%	1113.23%	14.99%	-3.91%

Madhav Marbles and Granites Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 6 years from 2019-2020 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	%
5 Years:	-12%
3 Years:	-17%
TTM:	-28%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	23%
TTM:	45%

Stock Price CAGR
10 Years:	1%
5 Years:	12%
3 Years:	-5%
1 Year:	-20%

Return on Equity
10 Years:	%
5 Years:	-2%
3 Years:	-2%
Last Year:	-1%

Last Updated: September 5, 2025, 10:05 am

Balance Sheet

Last Updated: December 4, 2025, 1:35 am

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	8.95	8.95	8.95	8.95	8.95	8.95	8.95	8.95
Reserves	119.61	121.43	122.48	119.71	117.47	116.02	115.37	114.75
Borrowings	19.09	22.56	11.36	8.29	9.61	15.07	11.72	10.30
Other Liabilities	17.32	15.54	10.28	7.38	5.40	2.45	3.04	4.64
Total Liabilities	164.97	168.48	153.07	144.33	141.43	142.49	139.08	138.64
Fixed Assets	42.38	37.91	33.53	30.25	30.30	27.58	25.27	24.02
CWIP	0.87	5.94	3.16	2.93	2.82	2.82	2.82	2.83
Investments	2.24	10.82	9.10	3.52	0.52	0.20	0.13	0.13
Other Assets	119.48	113.81	107.28	107.63	107.79	111.89	110.86	111.66
Total Assets	164.97	168.48	153.07	144.33	141.43	142.49	139.08	138.64

Reserves and Borrowings Chart

Cash Flow - No data available for this post.

Free Cash Flow

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	-11.91	-20.18	-8.39	-6.20	-9.04	-16.00	-11.75

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	126.77	128.30	113.35	95.35	104.18	135.48	128.33
Inventory Days	278.70	324.27	292.07	460.58	505.42	509.82	749.69
Days Payable	83.02	77.85	65.78	68.34	83.81	59.73	102.74
Cash Conversion Cycle	322.44	374.73	339.64	487.60	525.78	585.57	775.28
Working Capital Days	224.81	356.83	264.19	288.87	336.10	388.14	453.72
ROCE %		2.80%	1.19%	0.78%	0.05%	-0.25%	0.12%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	42.60%	42.77%	42.81%	42.66%	43.48%	43.50%	43.50%	43.50%	43.89%	44.19%	44.60%	45.20%
FIIs	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.59%
Public	57.41%	57.23%	57.20%	57.32%	56.52%	56.49%	56.50%	56.49%	56.11%	55.82%	55.40%	54.22%
No. of Shareholders	9,406	9,320	9,292	9,020	9,195	8,946	9,084	9,027	8,966	9,006	8,879	8,598

Shareholding Pattern Chart

No. of Shareholders

Madhav Marbles and Granites Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	-0.76	-1.62	-2.26	-2.63	-0.49
Diluted EPS (Rs.)	-0.76	-1.62	-2.26	-2.63	-0.49
Cash EPS (Rs.)	1.21	0.98	4.48	5.95	5.86
Book Value[Excl.RevalReserv]/Share (Rs.)	138.95	139.67	136.37	140.29	145.92
Book Value[Incl.RevalReserv]/Share (Rs.)	138.95	139.67	136.37	140.29	145.92
Revenue From Operations / Share (Rs.)	34.71	44.60	52.78	59.64	69.32
PBDIT / Share (Rs.)	3.21	3.07	5.24	6.97	6.79
PBIT / Share (Rs.)	0.34	-0.04	-0.03	1.55	1.63
PBT / Share (Rs.)	-1.28	-2.02	-1.13	0.61	0.97
Net Profit / Share (Rs.)	-1.66	-2.13	-0.80	0.51	0.69
NP After MI And SOA / Share (Rs.)	-1.66	-2.58	-4.30	-2.64	-0.48
PBDIT Margin (%)	9.24	6.88	9.93	11.69	9.80
PBIT Margin (%)	0.98	-0.09	-0.07	2.59	2.35
PBT Margin (%)	-3.69	-4.53	-2.14	1.02	1.40
Net Profit Margin (%)	-4.77	-4.78	-1.52	0.86	1.00
NP After MI And SOA Margin (%)	-4.77	-5.78	-8.13	-4.42	-0.70
Return on Networth / Equity (%)	-1.19	-1.84	-3.04	-1.83	-0.33
Return on Capital Employeed (%)	0.24	-0.03	-0.02	1.07	1.06
Return On Assets (%)	-1.06	-1.61	-2.71	-1.63	-0.28
Long Term Debt / Equity (X)	0.01	0.01	0.01	0.01	0.02
Total Debt / Equity (X)	0.09	0.12	0.07	0.05	0.07
Asset Turnover Ratio (%)	0.22	0.28	0.33	0.34	0.38
Current Ratio (X)	3.50	3.35	4.25	3.89	4.46
Quick Ratio (X)	1.82	1.85	2.23	2.00	2.94
Inventory Turnover Ratio (X)	1.15	0.57	0.67	0.82	0.91
Dividend Payout Ratio (NP) (%)	0.00	0.00	0.00	-18.94	0.00
Dividend Payout Ratio (CP) (%)	0.00	0.00	0.00	17.93	0.00
Earning Retention Ratio (%)	0.00	0.00	0.00	118.94	0.00
Cash Earning Retention Ratio (%)	0.00	0.00	0.00	82.07	0.00
Interest Coverage Ratio (X)	1.97	1.55	4.80	7.47	10.30
Interest Coverage Ratio (Post Tax) (X)	-0.02	-0.07	0.26	1.55	2.05
Enterprise Value (Cr.)	40.45	43.40	36.38	47.93	40.79
EV / Net Operating Revenue (X)	1.30	1.09	0.77	0.89	0.65
EV / EBITDA (X)	14.09	15.80	7.76	7.68	6.71
MarketCap / Net Operating Revenue (X)	1.13	0.86	0.75	0.88	0.68
Retention Ratios (%)	0.00	0.00	0.00	118.94	0.00
Price / BV (X)	0.28	0.27	0.28	0.36	0.32
Price / Net Operating Revenue (X)	1.13	0.86	0.75	0.88	0.68
EarningsYield	-0.04	-0.06	-0.10	-0.05	-0.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Madhav Marbles & Granites Ltd. is a Public Limited Listed company incorporated on 07/04/1989 and has its registered office in the State of Rajasthan, India. Company's Corporate Identification Number(CIN) is L14101RJ1989PLC004903 and registration number is 004903. Currently company belongs to the Industry of Granites/Marbles. Company's Total Operating Revenue is Rs. 30.95 Cr. and Equity Capital is Rs. 8.95 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Granites/Marbles	First Floor, 'Mumal Towers' Udaipur Rajasthan 313001	Contact not found

Management
Name	Position Held
Mr. Devendra Manchanda	Chairman
Mr. Madhav Doshi	Managing Director & CEO
Mrs. Riddhima Doshi	Whole Time Director
Mr. Pachampet Yegnaswamy Venkataraman	Independent Director
Mr. Arumugam Sivadasan	Independent Director
Ms. Swati Yadav	Independent Director
Ms. Surbhi Yadav	Independent Director

FAQ

What is the intrinsic value of Madhav Marbles and Granites Ltd and is it undervalued?

As of 26 April 2026, Madhav Marbles and Granites Ltd's intrinsic value is ₹41.93, which is 7.79% higher than the current market price of ₹38.90, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (0.60 %), book value (₹138), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Madhav Marbles and Granites Ltd?

Madhav Marbles and Granites Ltd is trading at ₹38.90 as of 26 April 2026, with a FY2026-2027 high of ₹54.0 and low of ₹29.0. The stock is currently in the middle of its 52-week range. Market cap stands at ₹34.8 Cr..

How does Madhav Marbles and Granites Ltd's P/E ratio compare to its industry?

Madhav Marbles and Granites Ltd has a P/E ratio of , which is below the industry average of 39.31. This is broadly in line with or below the industry average.

Is Madhav Marbles and Granites Ltd financially healthy?

Key indicators for Madhav Marbles and Granites Ltd: ROCE of 0.12 % is on the lower side compared to the industry average of 15.18%; ROE of 0.60 % is below ideal levels (industry average: 30.50%). Dividend yield is 0.00 %.

Is Madhav Marbles and Granites Ltd profitable and how is the profit trend?

Madhav Marbles and Granites Ltd reported a net profit of ₹-1 Cr in Mar 2025 on revenue of ₹31 Cr. Compared to ₹-5 Cr in Mar 2022, the net profit shows a mixed trend.

Does Madhav Marbles and Granites Ltd pay dividends?

Madhav Marbles and Granites Ltd has a dividend yield of 0.00 % at the current price of ₹38.90. The company is currently not paying meaningful dividends.