Madhusudan Masala
Madhusudan Masala (MADHUSUDAN) share price was ₹246.90 at the 28 Oct 2026 close; market capitalisation ₹398 Cr; P/E (TTM) 20.54; sector Food Products. The share price rose 77.8% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Jun 2026 quarter, revenue rose 38.9% year on year to ₹89.54 Cr and net profit rose 56.2% year on year to ₹5.81 Cr (compared with Jun 2025). Promoters held 70.44% of Madhusudan Masala in Sep 2026, down 0.03 percentage points from Jun 2026. Its Tapetide Score is 55/100 (Good) as of 28 Oct 2026.
Key Fundamentals
SMEFood ProductsFMCGPrice-based figures as of 29 Oct 2026, 10:47 IST · EPS basis: Standalone · TTM
Peer Comparison
Fast Moving Consumer Goods › Food Products › Other Food Products
| ₹1,809.70 | 40.90 | 11,423 Cr | 9.66 | 0.04% | 32.97% | 47.65% | 1,502 Cr | 265 Cr | |
| ₹624.85 | 23.91 | 11,120 Cr | 1.26 | 0.64% | 9.25% | 15.94% | 39,126 Cr | 1,228 Cr | |
| ₹517.30 | 24.07 | 7,086 Cr | 2.58 | 0.00% | 10.39% | 13.28% | 2,623 Cr | 295 Cr | |
| ₹400.05 | — | 952 Cr | 4.90 | 0.00% | 15.06% | 19.21% | — | — | |
| ₹359.75 | 41.88 | 902 Cr | 5.17 | 0.10% | 11.10% | 14.47% | 343 Cr | 23 Cr | |
| ₹376.50 | — | 885 Cr | 5.35 | 0.00% | 21.41% | 27.09% | — | — | |
| — | — | 675 Cr | 4.96 | 0.00% | 18.22% | 25.93% | — | — | |
| Madhusudan Masala (this company) | ₹253.65 | 21.10 | 409 Cr | 2.95 | 0.00% | 15.08% | 23.68% | 318 Cr | 18 Cr |
| Median 8 companies | ₹400.05 | 24.07 | 927 Cr | 4.93 | 0.00% | 15.07% | 21.45% | 1,502 Cr | 265 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Data confidence 95/100
Category scores
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
3- Company is expected to give good quarter
- Company has delivered good profit growth of 105% CAGR over last 5 years
- Promoter holding has increased by 2.38% over last quarter.
Weaknesses
2- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last 3 years: -3.17%
Technical Indicators
Oscillators
Bullish
Overall
Bullish
Moving Averages
Bullish
Growth Rate
change over 1 year
change over 1 year
change over 1 year
change over 1 year Operating margin 10.93% · Jun 2026
Quarterly Results
| Particulars | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 29.76 | 65.06 | 58.34 | 63.59 | 64.48 | 41.58 | 68.42 | 87.06 | 89.54 |
| Expenses | 25.84 | 58.05 | 54.2 | 56.79 | 57.83 | 35.79 | 61.24 | 77.84 | 79.75 |
| Operating Profit | 3.92 | 7.01 | 4.14 | 6.8 | 6.65 | 5.79 | 7.18 | 9.22 | 9.79 |
| OPM % | 13.17% | 10.77% | 7.1% | 10.69% | 10.31% | 13.92% | 10.49% | 10.59% | 10.93% |
| Other Income | 0.03 | 0.01 | 0.53 | 0.58 | 0.19 | 0.51 | 0.19 | 0.39 | 0.31 |
| Interest | 1.26 | 1.69 | 1.29 | 1.47 | 1.4 | 1.64 | 1.31 | 1.89 | 1.75 |
| Depreciation | 0.49 | 0.21 | 0.64 | 0.49 | 0.5 | 0.53 | 0.57 | 0.59 | 0.55 |
| PBT | 2.2 | 5.12 | 2.74 | 5.42 | 4.94 | 4.13 | 5.49 | 7.13 | 7.8 |
| Tax % | 21.82% | 23.24% | 23.36% | 23.62% | 24.7% | 24.94% | 24.95% | 26.65% | 25.51% |
| Net Profit | 1.73 | 3.93 | 2.09 | 4.13 | 3.72 | 3.1 | 4.12 | 5.23 | 5.81 |
| EPS (₹) | 1.34 | 2.73 | 1.45 | 2.85 | 2.57 | 2.14 | 2.85 | 3.43 | 3.6 |
Profit & Loss
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|
| Sales | 69 | 65 | 127 | 162 | 216 | 261 | 287 |
| Expenses | 66 | 63 | 116 | 145 | 194 | 233 | 255 |
| Operating Profit | 3 | 2 | 11 | 17 | 22 | 29 | 32 |
| OPM % | 4.2% | 3.3% | 9% | 11% | 10% | 11% | 11% |
| Other Income | 0 | 1 | 0 | 0 | 1 | 1 | 1 |
| Interest | 2 | 2 | 3 | 4 | 6 | 6 | 7 |
| Depreciation | 1 | 1 | 1 | 1 | 2 | 2 | 2 |
| PBT | 1 | 1 | 8 | 12 | 15 | 22 | 25 |
| Tax % | 27% | 16% | 26% | 26% | 24% | 26% | — |
| Net Profit | 0 | 1 | 6 | 9 | 12 | 16 | 18 |
| EPS (₹) | — | 810 | 11.5 | 7.13 | 8.06 | 10.6 | 12.02 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity Capital | 0 | 0.01 | 5 | 13 | 14 | 15 |
| Reserves | 11 | 0 | 6 | 33 | 77 | 103 |
| Borrowings | 10 | 28 | 43 | 52 | 65 | 69 |
| Other Liabilities | 5 | 7 | 4 | 7 | 7 | 12 |
| Total Liabilities | 26 | 35 | 57 | 105 | 164 | 199 |
| Fixed Assets | 5 | 4 | 4 | 10 | 13 | 14 |
| CWIP | 0 | 0 | 6 | 2 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 8 | 10 |
| Other Assets | 21 | 31 | 48 | 93 | 143 | 176 |
| Total Assets | 26 | 35 | 57 | 105 | 164 | 199 |
Cash Flow
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Operating | 2 | -5 | -9 | -29 | -30 | -3 |
| Investing | -1 | 0 | -6 | -3 | -11 | -5 |
| Financing | -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 | -118 | 7 |
Ratios
| Particulars | 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 | 234 |
| Working Capital Days | 62 | 66 | 22 | 88 | 126 | 135 |
| ROCE % | — | 11% | 27% | 22% | 17% | 16% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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65 extracted metrics + investor summaries across FY21–FY27.
Documents
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Company Information
Incorporated in 1982, Madhusudan Masala Ltd manufactures and trades Spices and other related items[1]
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