Madhusudan Masala Ltd
Incorporated in 1982, Madhusudan Masala Ltd manufactures and trades Spices and other related items[1]
- Market Cap ₹ 378 Cr.
- Current Price ₹ 248
- High / Low ₹ 260 / 109
- Stock P/E 23.4
- Book Value ₹ 77.4
- Dividend Yield 0.00 %
- ROCE 16.2 %
- ROE 15.4 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 105% CAGR over last 5 years
- Promoter holding has increased by 1.44% over last quarter.
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Fast Moving Consumer Goods Fast Moving Consumer Goods Food Products Other Food Products
Part of Nifty SME Emerge
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 69 | 65 | 127 | 162 | 216 | 262 | |
| 66 | 63 | 116 | 145 | 194 | 233 | |
| Operating Profit | 3 | 2 | 11 | 17 | 22 | 29 |
| OPM % | 4% | 3% | 9% | 11% | 10% | 11% |
| 0 | 1 | 0 | 0 | 1 | 1 | |
| Interest | 2 | 2 | 3 | 4 | 6 | 6 |
| Depreciation | 1 | 1 | 1 | 1 | 2 | 2 |
| Profit before tax | 1 | 1 | 8 | 12 | 15 | 22 |
| Tax % | 27% | 16% | 26% | 26% | 24% | 26% |
| 0 | 1 | 6 | 9 | 12 | 16 | |
| EPS in Rs | 810.00 | 11.50 | 7.13 | 8.06 | 10.60 | |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 31% |
| 3 Years: | 27% |
| TTM: | 21% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 105% |
| 3 Years: | 41% |
| TTM: | 38% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 69% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 20% |
| 3 Years: | 18% |
| Last Year: | 15% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.00 | 0.01 | 5 | 13 | 14 | 15 |
| Reserves | 11 | 0 | 6 | 33 | 77 | 103 |
| 10 | 28 | 43 | 52 | 65 | 69 | |
| 5 | 7 | 4 | 7 | 7 | 12 | |
| Total Liabilities | 26 | 35 | 57 | 105 | 164 | 199 |
| 5 | 4 | 4 | 10 | 13 | 14 | |
| CWIP | 0 | 0 | 6 | 2 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 8 | 10 |
| 21 | 31 | 48 | 93 | 143 | 176 | |
| Total Assets | 26 | 35 | 57 | 105 | 164 | 199 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 2 | -5 | -9 | -29 | -30 | -3 | |
| -1 | 0 | -6 | -3 | -10 | -5 | |
| -1 | 5 | 16 | 31 | 41 | 8 | |
| Net Cash Flow | 0 | -0 | 0 | 0 | -0 | 0 |
| Free Cash Flow | 1 | -5 | -15 | -32 | -33 | -6 |
| CFO/OP | 68% | -221% | -64% | -146% | -119% | 7% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 67 | 70 | 47 | 81 | 61 | 71 |
| Inventory Days | 44 | 97 | 75 | 112 | 174 | 171 |
| Days Payable | 27 | 36 | 4 | 9 | 5 | 9 |
| Cash Conversion Cycle | 83 | 131 | 118 | 184 | 230 | 233 |
| Working Capital Days | 62 | 66 | 22 | 88 | 126 | 135 |
| ROCE % | 11% | 27% | 22% | 17% | 16% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Branded Sales Mix % |
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| Capacity Utilization - Jamnagar Plant % |
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| Total Manufacturing Capacity MT |
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| Number of Distributors count |
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| Number of Retailers count |
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| Number of States Covered count |
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| Number of Wholesalers count |
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| Total Sales Volume MT |
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Extracted by Screener AI
Documents
Announcements
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Analysts/Institutional Investor Meet/Con. Call Updates
7 July 2026 - Management will join a virtual investor conference with Kaptify Consulting on July 10, 2026.
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Certificate under SEBI (Depositories and Participants) Regulations, 2018
7 July 2026 - Filed Regulation 74(5) certificate for quarter ended June 30, 2026.
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Trading Window
26 June 2026 - Trading window closed from July 1, 2026 until 48 hours after Q1 FY2026 results.
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General Updates
18 June 2026 - Company held investor webinar on June 18, 2026; discussed business, financials, growth plans and expansion.
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Allotment of Securities
13 June 2026 - Board allotted 8,95,000 equity shares on June 13, 2026, raising Rs. 12.15 crore through warrant conversion.
Annual reports
Concalls
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May 2026Transcript PPT
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Jan 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Aug 2025TranscriptAI SummaryPPT
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Jun 2025Transcript PPT
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Feb 2025TranscriptAI SummaryPPT
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Nov 2024Transcript PPT
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Oct 2024TranscriptAI SummaryPPT
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May 2024Transcript PPT
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Nov 2023Transcript PPT
Business Overview:[1]
MML manufactures and processes ~32+ types of ground spices, blended spices, whole spices and other grocery products like - Tea, rajgira flour, Papad, soya Products, asafoetida (Hing), achar masala (ready-to make pickle), sanchar (black salt powder), sindhalu (rock salt powder), katlu powder (food supplement), kasuri methi (dry fenugreek) etc. It also trades in whole spices and food grains through unbranded sales.