Madhusudan Masala Ltd.
MADHUSUDAN.NS
National Stock Exchange of India- -
INR
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Consumer Defensive
- Industry
- Food Distribution
- Address
- India
- IPO Date
- Sep 26, 2023
- Website
- madhusudanmasala.com
- Similar Companies
- Business
- Madhusudan Masala Ltd. (MADHUSUDAN.NS) manufactures and processes more than 32 types of ground spices, blended spices, whole spices, and related grocery products including tea, rajgira flour, papad, soya products, asafoetida (hing), achar masala (ready-to-make pickle powder), sanchar (black salt powder), sindhalu (rock salt powder), katlu powder (food supplement), and kasuri methi (dry fenugreek), marketed primarily under the brand names "DOUBLE HATHI" and "MAHARAJA"; it also trades whole spices and food grains through unbranded sales. The company operates a manufacturing facility in Jamnagar, Gujarat, with installed capacities of 2,400 MT for chili powder, 1,200 MT for turmeric powder, and 1,200 MT for coriander powder and blended spices, holding certifications including ISO 9001:2015, ISO 22000:2018, HACCP, and FSSAI license. Originally established as a partnership firm M/s. Madhusudan & Co. in 1982, it converted to a private limited company in December 2021 and to a public limited company in April 2023, with headquarters at F.P. No. 19, Plot No. 1-B, Hapa Road, Jamnagar, Gujarat 361001, India; it listed on the NSE SME platform via IPO in September 2023. Geographically, operations focus on Gujarat with expansion into Maharashtra, Rajasthan, Punjab, Jammu & Kashmir, and Uttar Pradesh through over 2,100 wholesalers and 3,700 retailers. In July 2024, the company acquired 100% of Vitagreen Products Private Limited (VGPPL) as a wholly owned subsidiary, adding ready-to-cook products, instant mixes, snacks, and blended spices under the "77 Green" brand, along with export presence in Indonesia, Australia, South Africa, the Middle East, and the United Kingdom, while boosting manufacturing capacity and consolidated revenue growth of 33.45% to ₹216 crore with PAT of ₹15.02 crore in FY2025. In September 2025, shareholders approved new Articles of Association, director reappointments, and remuneration at the AGM, reflecting ongoing governance enhancements amid sustained profitability improvements.