Madhusudan Masala Ltd.

•

madhusudanmasala.comBSE: -NSE: MADHUSUDAN

Market Cap₹ 384 Cr.

Current Price

High / Low₹ 260 / 109

Stock P/E18.4

Book Value₹ 80

Price to Book2.32

Dividend Yield0.00 %

ROCE15.6 %

ROE16.1 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Fast Moving Consumer Goods

Hold

Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.

Confidence

62%

View full sector analysis →

PROS

Latest quarter profit grew 56.1% YoY, showing strong momentum
Institutional investors have been accumulating - FII+DII up 3.7pp

CONS

Operating cash flow has been negative in recent years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Fast Moving Consumer GoodsFMCGConsumer Food

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	NESTLEIND	1384.00	70.03	266878.70	0.87	9586.80	1382.67	63781.80	1157.04	98.35	23.86
2.	VBL	416.25	41.58	140795.10	0.36	1525.36	15.08	8650.57	20.77	20.73	27.04
3.	BRITANNIA	4970.00	45.97	119711.54	1.82	593.38	14.08	4999.97	10.26	56.48	16.77
4.	JUBLFOOD	470.40	71.52	31039.12	0.26	100.03	6.03	2569.65	13.66	25.56	19.77
5.	HATSUN	1222.80	78.20	27237.66	0.49	60.58	—	2363.72	17.61	17.40	10.81
6.	MILKYMIST	293.30	177.78	22579.51	0.00	646.79	—	9734.46	—	13.79	14.77
7.	ZYDUSWELL	552.65	93.43	17583.15	0.22	118.90	-7.04	1437.00	67.54	4.42	16.82
8.	DEVYANI	137.95	0.00	17008.40	0.00	171.04	7576.84	15805.16	1064.74	8.98	16.09
9.	LTFOODS	437.85	23.74	15204.47	0.69	183.45	8.87	3151.83	27.92	19.77	11.26
10.	BIKAJI	548.50	53.20	13752.89	0.23	59.47	1.62	734.26	15.26	21.65	13.48
11.	MANORAMA	2063.45	52.81	13024.99	0.04	78.66	67.55	404.01	39.53	35.00	26.29
12.	MADHUSUDAN	238.00	18.43	384.01	0.00	6.50	56.06	98.28	34.47	15.61	11.27

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	70	63	73	73	45	76	97	98
	62	59	66	66	39	68	86	90
Operating Profit	8	5	7	8	7	8	11	8
OPM %	10.77%	7.24%	9.74%	10.29%	14.51%	10.80%	11.01%	8.56%
	0	1	3	0	1	0	0	0
Interest	2	1	2	2	2	1	2	2
Depreciation	0	1	1	1	1	1	1	1
Profit before Tax	6	3	8	6	5	6	8	9
Tax %	25.67%	23.51%	26.87%	25.05%	25.74%	25.63%	26.29%	25.51%
Net Profit	0	0	0	4	3	5	6	7
	3.18	1.59	3.93	2.88	2.41	3.25	4.24	4.22

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2025	TTM
	231	317
	207	283
Operating Profit	24	34
OPM %	10.50%	10.70%
	4	1
Interest	6	7
Depreciation	2	3
Profit before Tax	20	28
Tax %	25.08%	25.81%
Net Profit	15	21
EPS	10.38	—
Dividend Payout %	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 68%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: —
Last Year:: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2025
Equity Capital	14
	79
	65
Trade Payables	5
	15
Total Liabilities	179
	15
	4
	98
	47
	15
Total Assets	179

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2025
	-39
Cash from Investing	-7
Cash from Financing	45
	-1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2025

Shareholding Pattern

Numbers in percentages

	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Mar 2026
	73.64	73.69	66.93	68.09	68.09	69.53
	3.74	1.01	1.11	0.04	0.44	0.72
	3.69	0.90	4.91	4.89	4.99	4.91
Government	0.00	0.00	0.00	0.00	0.00	0.00
	18.93	24.40	27.05	26.99	26.48	24.83

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for MADHUSUDAN

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Madhusudan Masala Ltd.

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Name

NESTLEIND

1384.00

70.03

266878.70

0.87

9586.80

1382.67

63781.80

1157.04

98.35

23.86

VBL

416.25

41.58

140795.10

0.36

1525.36

15.08

8650.57

20.77

20.73

27.04

BRITANNIA

4970.00

45.97

119711.54

1.82

593.38

14.08

4999.97

10.26

56.48

16.77

JUBLFOOD

470.40

71.52

31039.12

0.26

100.03

6.03

2569.65

13.66

25.56

19.77

HATSUN

1222.80

78.20

27237.66

0.49

60.58

—

2363.72

17.61

17.40

10.81

MILKYMIST

293.30

177.78

22579.51

0.00

646.79

—

9734.46

—

13.79

14.77

ZYDUSWELL

552.65

93.43

17583.15

0.22

118.90

-7.04

1437.00

67.54

4.42

16.82

DEVYANI

137.95

0.00

17008.40

0.00

171.04

7576.84

15805.16

1064.74

8.98

16.09

LTFOODS

437.85

23.74

15204.47

0.69

183.45

8.87

3151.83

27.92

19.77

11.26

BIKAJI

548.50

53.20

13752.89

0.23

59.47

1.62

734.26

15.26

21.65

13.48

MANORAMA

2063.45

52.81

13024.99

0.04

78.66

67.55

404.01

39.53

35.00

26.29

MADHUSUDAN

238.00

18.43

384.01

0.00

6.50

56.06

98.28

34.47

15.61

11.27

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

Operating Profit

OPM %

10.77%

7.24%

9.74%

10.29%

14.51%

10.80%

11.01%

8.56%

Interest

Depreciation

Profit before Tax

Tax %

25.67%

23.51%

26.87%

25.05%

25.74%

25.63%

26.29%

25.51%

Net Profit

3.18

1.59

3.93

2.88

2.41

3.25

4.24

4.22

Mar 2025

TTM

231

317

207

283

Operating Profit

OPM %

10.50%

10.70%

Interest

Depreciation

Profit before Tax

Tax %

25.08%

25.81%

Net Profit

EPS

10.38

—

Dividend Payout %

0.00%

—

Mar 2025

Equity Capital

Trade Payables

Total Liabilities

179

Total Assets

179

Mar 2025

-39

Cash from Investing

-7

Cash from Financing

-1

Mar 2025

Sep 2023

Mar 2024

Sep 2024

Mar 2025

Sep 2025

Mar 2026

73.64

73.69

66.93

68.09

69.53

3.74

1.01

1.11

0.04

0.44

0.72

3.69

0.90

4.91

4.89

4.99

4.91

Government

0.00

18.93

24.40

27.05

26.99

26.48

24.83

Madhusudan Masala Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Madhusudan Masala Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI