Intimation of Unaudited Standalone & Consolidated Financial Results along with Limited Review Report for the Quarter & Half Year ended on September 30, 2026.

MADHAV INFRA PROJECTS LIMITED CIN: L45200GJ1992PLC018392 Madhav House, Plot No. 4 Near Panchratna Building Subhanpura, Vadodara-390 023, Telefax : 0265-2290722 www.madhavcorp.com To, 27th October, 2026 General Manager, Listing Compliance Department, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001. Sub: Outcome of Board Meeting held today, i.e., on Tuesday, the 27th of October, 2026, in terms of Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Ref: M/s Madhav Infra Projects Limited (Security Id: MADHAVIPL, Scrip Code: 539894) Dear Sir/Ma’am, In reference to the captioned subject and pursuant to Regulations 30, 33 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors of the Company, in their meeting held on today, i.e., Tuesday, 27th of October, 2026, at the registered office of the Company which was commenced at 5:30 P.M. and concluded at 8:00 P.M. have; (i) considered and approved the Standalone and Consolidated Unaudited Financial Results of the Company for the quarter and half year ended on September 30, 2026, along with the Limited Review Report issued by M/s Shah & Kadam, Chartered Accountants, Statutory Auditors of the company. (ii) Other approvals related to and required in the normal course of business had been taken on record by the Board. This information is also being made available on the website of the Company, i.e., https://madhavcorp.com MADHAV INFRA PROJECTS LIMITED CIN: L45200GJ1992PLC018392 Madhav House, Plot No. 4 Near Panchratna Building Subhanpura, Vadodara-390 023, Telefax : 0265-2290722 www.madhavcorp.com You are requested to take the above information on your records and bring this to the Notice of all concerned. Thanking you. Yours sincerely, For Madhav Infra Projects Limited Ishwari Kumari Sindha Company Secretary & Compliance Officer M. No. A80997 CA CHIRAG SHAH SHAH&KADAM B.Com. F.C.A., DISA(ICA), 1.P.(1881) CA KALPESH SHAH CHARTERED ACCOUNTANTS B.Com. F.C.A. 509/A, ATLANTIS HEIGHTS. SARABHAI MAfN ROAD. GENDA CIRCLE, CA ASHISH KADAM VADODARA-007. 8.Com. F.C.A., C.P.A.(Aus.) CA RENUKAGAVDI .M. No. : 9428399648 and 9978399648 Email : kalpesh@shahandkadam.com and Works@shahandkadam.com 8.Com. F.C.A. Website : shahandkadam.com CAJIGARSHAH Branch. : Vadodara & Ahmedabad B.Com. F.C.A. LL.B. Independent Auditor's Review Report on half Yearly Unaudited Standalone and year to date Financial Results of MADHAV INFRA PROJECTS LIMITED pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements} Regulation, 2015, as amended THE BOARD OF DIRECTORS OF MADHAV INFRA PROJECTS LIMITED 1. We have reviewed the accompanying Statement of unaudited standalone financial results of MADHAV INFRA PROJECTS LIMITED (the "Company") for the half year ended 30th September, 2026 and year to date from 01st April, 2026 to 30th September, 2026 ("the Statement') attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Discl-::>sure Requirements) Regulations, 2015 as amended (the "Listing Regulations"). 2. This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, ("IND AS 34") "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statements based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit: Accordingly, we do,~if'&~ express an audit opinicn. :f.~~~ 4. We draw attention to Note No. 4 of the accompanying result in respect of non ascertainment & non provision of Deferred Tax Liability as per Ind AS 12 Income Taxes. I~or SHAH & KADAM Chartered Accountants FRN: 117413W CA Kalpesh B. Shah Partner M.no: 107121 Place: V adodara Date: 27/10/2026 UDIN:2(10+121 POH !if') £.92-55 MADHAV INFRA PROJECTS LIMITED CIN: L45200GJ1992PLC018392 Registered Office: Madhav House, Plot No. -04, Nr. Panchratna Building, Subhanpura, Vadodara -390 023 Email: secretarial@madhavcorp.com Website: www.madhavcorp.com Tel: 0265 2290722 Statement of Un-Audited Financial Results for the quarter and half year ended on September 30, 2026 f Rs. in Lakh' QUARTER ENDED HALF YEAR ENDED YEAR ENDED QUARTER ENDED HALF YEAR ENDED YEAR ENDED PARTICULARS 30-09-2026 30-06-2026 30-09-2025 30-09-2026 30-09-2025 31-03-2026 30-09-2026 30-06-2026 30-09-2025 30-09-2026 I 30-09-2025 31-03-2026 A i Date of start of reoortina auarter 01-07-2026 01-04-2026 01-07-2025 01-04-2026 01-04-2025 01-04-2025 01-07-2026 01-04-2026 01-07-2025 01-04-2026 i 01-04-2025 01-04-2025 B l Date of end of reoortina auarter 30-09-2026 30-06-2026 30-09-2025 30-09-2026 30-09-2025 31-03-2026 30-09-2026 30-06-2026 30-09-2025 30-09-2026 i 30-09-2025 31-03-2026 c i Whether results are audited or unaudited Un-audited Un-audited Un-audited Un-audited Un-audited Audited Un-audited Un-audited Un-audited Un-audited j Un-audited Audited D i Nature of Report Standalone Consolidated Part I ! 1 !R evenue From Ooerations ' ' t !Net sales or Revenue from Ooerations 9 893.79 5,734.87 10431.47 15 628.66 18 875.74 44,756.81 13 335.04 8,836.59 I 10 682.03 22 171.64 ! 19436.41 50,213.04 !Other ooerating revenues i ~ i - ~Total Revenue from ooerations 9 893.79 I 5 734.87 10 431.47 15 628.66 18 875.74 44 756.81 13 335.04 i 8 836.59 i 10 682.03 22 171-64 i 19436.41 50 213.04 o !t Th ote ar i nn cc o.o mm ee (1 +2) --·--------·- 10,01 44 39 .. 35 67 5.81 74 50 .. 68 93 10,51 63 20 .. 27 36 15,92 19 90 .. 04 60 ·--- 1- 9,- 24 8-1 6-0- .- 3.5- 18 - - ··- -- 45- ,47 6-1 92 .-. 79 00- - 13,51 18 94 .. 11 40 i 9,01 17 26 .. 82 00 I 10,81 23 08 .. 33 63 --22,53 36 10 .. 93 40 i' ' 19,84 52 81 .. 39 55 51,08 43 63 .. 55 40 4 IE xpenses ' l i fa) !cost of materials consumed 4 886.64 2,447.85 5 639.25 7 334.49 12 233.82 24,669.07 4 926.02 2,447.85 i 5 639.71 7 373.87 i 12 234.43 25,014.43 fb) !construction Exoences 2 434.97 2,816.56 2 082.71 5 251.52 4 600.83 11,069.42 5 481.36 5,331.98 i 2093.18 10,813.34 i 4 625.73 14,772.70 (c) !Purchases of stock-tn-trade i ! (d) I c hanges in inventories of finished goods, work-in-progress and stock-in- 995.47 (1,323.26) 665.89 (327.79) (2,071.36) 1,071.90 945.12 (1,323.26)! 665.89 (378.14)! l (2,071.36) 1,078.98 itraoP fe) !Emolovee bene~ense 317.34 439.97 382.07 757.31 749.74 1,346.95 519.79 506.69 i 417.33 1 026.48 i 823.45 1,489.16 !f) lFinance costs 358.75 445.77 664.94 804.52 1 347.03 1,906.84 449.72 565.77 i 756.93 1 015.49 i 1 529.13 2,534.38 (a) IDeoreciation and amortisation expense 218.05 202.62 211.57 420.67 429.02 871.69 338.88 322.22 ; 332.68 661.10 i 670.07 1,352.50 fh) !Other Exoenses 161.17 253.78 218.70 414.95 456.28 1,088.73 389.53 312.98 238.25 702.51 i 488.26 1,234.25 lrotal Expenses 9,372.39 5,283.29 9,865.13 14,655.68 17,745.35 42,0 [Showing first 8,000 characters — download PDF for full document]