Madhusudan Masala
- Market cap
- ₹ 388 Cr.
- P/E
- 19.1x
- P/B
- 3.15x
- 52-week range
- 108.6 – 260
- ROE
- 15%
- ROCE
- 16%
- Debt / equity
- 0.68
- Sector
- Food Products
- Industry
- Other Food Products
- Listed on
- NSE SME
About
Madhusudan Masala Limited is an India-based company, which is engaged in the business of manufacturing and processing of more than 32 types of Spices under the brand names of DOUBLE HATHI and MAHARAJA. The Company also sell products, such as whole spices, tea and other grocery products, which include rajgira flour, papad, soya products, asafetida (hing), achar masala (ready to make pickle powder), sanchar (black salt powder), sindhalu (rock salt powder), katlu powder (food supplement), kasuri methi (dry fenugreek), and others under the brand name of DOUBLE HATHI. Its range of spices includes ground spices which comprises of various varieties of chilli powder, turmeric powder, coriander powder and coriander cumin powder; and blend spices which comprises of garam masala, tea masala, chhole masala, sambhar masala, pav bhaji masala, pani puri masala, sabji masala, kitchen king masala, chicken masala, meat masala, chatpata chat masala, butter milk masala, chewda masala, and more.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Other Food Products: 42 companies →Madhusudan Masala against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)19.1 against a typical 19.1: in line than most peers (1st = cheapest).21st of 41
- Sales growth+38.9% against a typical +23.5% from a year earlier.9th of 25
- Profit growth+56.2% against a typical +29.7% from a year earlier.7th of 22
- Share price, 3 months−8% against a typical −6.1%.22nd of 40
- Size₹ 388.2 Cr. market value against a typical ₹ 118.1 Cr. (1st = largest).9th of 39
Research by Minerva Capital Research Solutions
Our research team's work on Madhusudan MasalaAlso covered in
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 30 Oct 2026Upcoming | Financial Results | To consider and approve the financial results for the period ended September 30, 2026 |
| 18 Jul 2026 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2026 |
| 25 May 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended March 31, 2026 and other business matters. |
| 18 Jan 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended December 31, 2025 and other business matters |
| 17 Jan 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended December 31, 2025 and other business matters |
| 13 Nov 2025 | Financial Results/Other business matters | To consider and approve the financial results for the period ended September 30, 2025 and other business matters. |
| 28 Jul 2025 | Board Meeting Intimation | Madhusudan Masala Limited has informed the Exchange about Board Meeting to be held on 28-Jul-2025 to consider and approve the Quarterly Unaudited Financial results of the Company for the period ended June 2025 and Other business. |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 30 | 65 | 58 | 64 | 64 | 42 | 68 | 87 | 90 |
| Expenses | 26 | 58 | 54 | 57 | 58 | 36 | 61 | 78 | 80 |
| Operating Profit | 4 | 7 | 4 | 7 | 7 | 6 | 7 | 9 | 10 |
| OPM % | 13.2% | 10.8% | 7.1% | 10.7% | 10.3% | 13.9% | 10.5% | 10.6% | 10.9% |
| Other Income | 0 | 0 | 1 | 1 | 0 | 1 | 0 | 0 | 0 |
| Interest | 1 | 2 | 1 | 1 | 1 | 2 | 1 | 2 | 2 |
| Depreciation | 0 | 0 | 1 | 0 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 2 | 5 | 3 | 5 | 5 | 4 | 5 | 7 | 8 |
| Tax % | 21.8% | 23.2% | 23.4% | 23.6% | 24.7% | 24.9% | 25% | 26.7% | 25.5% |
| Net Profit | 2 | 4 | 2 | 4 | 4 | 3 | 4 | 5 | 6 |
| EPS in Rs | 1.34 | 2.73 | 1.45 | 2.85 | 2.57 | 2.14 | 2.85 | 3.43 | 3.6 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- —
- 5 Years
- 31%
- 3 Years
- 27%
- TTM
- 14%
- 10 Years
- —
- 5 Years
- 105%
- 3 Years
- 41%
- TTM
- 32%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- —
- TTM
- —
- 10 Years
- —
- 5 Years
- 20%
- 3 Years
- 18%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Madhusudan Masala | ₹ 220.00 | ₹ 388 Cr. | 19.1x | 3.2x | 15% | — |
| Nestle India | ₹ 1,173.45 | ₹ 2,26,278 Cr. | 80.4x | 53.4x | 76.3% | 15.1% |
| Britannia Industries | ₹ 4,547.80 | ₹ 1,09,542 Cr. | 51.5x | 25.5x | 53.6% | 13.3% |
| Tata Consumer Products | ₹ 960.00 | ₹ 95,010 Cr. | 67.4x | 4.9x | 7.4% | 8.1% |
| Godrej Industries | ₹ 918.00 | ₹ 30,884 Cr. | 34.9x | 4x | 11.6% | 10.9% |
| Patanjali Foods | ₹ 351.00 | ₹ 38,193 Cr. | 18.9x | 2.8x | 14.8% | 4.5% |
Management
- Rishit Dayalaji Kotecha
- Chairman of the Board and Managing Director, Executive Director
- Kirit Vallabhbhai Dharaviya
- Chief Financial Officer
- Megha Dilipkumar Madani
- Company Secretary and Compliance Officer
- Hiren Vijaykumar Kotecha
- Whole Time Director
Prices are delayed and for information only. Nothing on this page is investment advice.