I guess the scene here in Madrid is pretty good, it's still growing though. There are a lot of decent bands that keep popping up, but I don't think there are too many that are very well known. I'd say the bands from around here are just as good as the more well known Spanish bands (Über, Insomio, Anti-Playax etc..) The scene is definitely growing here though and more established and well known international punk/hardcore bands are starting to play shows here in Madrid, rather than just sticking to the more hip places like Barcelona or Bilbao.
The main bands from Madrid these days are:
Silla Eléctrica: Raw hardcore with guy/girl vocals. Released 3 7"s so far, all of them great.
Rumania: These guys play some nice hardcore punk, sound similar to Dead Kennedys. Haven't been around for very long and only released one EP as far as I know.
Coprolitos: Female fronted hardcore from Madrid, have a few 7"s and a couple split EPs. One of those splits was with fellow Spanish punkers La URSS who just recently released an LP.
Las Señoras: Relatively new all-girl group from Madrid, they play fast punk rock with a bit of synth. Sounds like it would be shit, but it's great.
Those are the main bands that I can think of, or I guess the ones I know best.
As for labels, in Madrid there are a few small ones that have released one or two records and that's it, but apart from that there's really only two that I can think of:
Blondes Must Die Records: They release a lot of hardcore/lo-fi stuff from Madrid and surrounding areas.
Solo Para Punks: Label that releases good hardcore from Madrid, as well as other Spanish speaking areas. They also stock a lot of Spanish classics from bands like Eskorbuto, Kangrena and TDK.
Apart from that, there are a couple distros that have a lot of Spanish hardcore.
Terminal Picnic Not sure if they're still around even, but they have a lot of newer Spanish stuff for sale.
Dogends Records which is the distro I run. Has some of the newer Spanish records that have reviews for them in English. Only been at it for a few months so it's still a work in progress.