Madhucon Projects Q4/FY26 Results: Auditors Issue Qualified Opinion

Madhucon Projects Ltd. announced its Audited Standalone and Consolidated Financial Results for the quarter and year ended March 31, 2026. The Board of Directors approved these results at a meeting held on May 28, 2026. However, the Statutory Auditors, M/s P. Murali & Co., issued a modified opinion on the Auditor's Reports. The basis for this qualified opinion stems from concerns regarding the carrying value of equity investments (₹36,657.07 lakhs) and other investments (₹6,426.85 lakhs) in subsidiaries and other companies. Several of these entities are incurring losses, and some subsidiaries, including Madhucon Infra Limited, have fully or substantially eroded net worth, affecting their going concern status. The auditors were unable to ascertain the requirement for impairment provisions due to the absence of fair valuation. The company has written off ₹7,637.67 lakhs (6.25%) and ₹30,550.68 lakhs (25%) of its investment in Madhucon Infra Limited for the quarter and year ended March 31, 2026, respectively.