Madhusudan Masala Ltd (MADHUSUDAN) — shareholding pattern, promoter holding, financials and share price
About Madhusudan Masala Ltd (MADHUSUDAN)
Madhusudan Masala Ltd operates in the Packaged Foods industry, within the Fast Moving Consumer Goods sector. It trades on the NSE as MADHUSUDAN and on the BSE under scrip code 91841. Its ISIN is INE0P6701019.
Incorporated in 1982, Madhusudan Masala Ltd manufactures and trades Spices and other related items [1]
Madhusudan Masala Limited manufactures and processes over 32 types of spices, selling under prominent brands like 'DOUBLE HATHI' and 'MAHARAJA.'
The company reported robust growth with revenue for Q3FY26 at INR 763.2 million, marking a 20.3% YoY increase, with EBITDA margins expanding significantly due to operational efficiencies.
Listed peers in Packaged Foods: Foods & Inns Ltd, Mishtann Foods Ltd, Emrock Corporation Limited, Shreeji Global FMCG Ltd, Hoac Foods India Ltd, Annapurna Swadisht Ltd.
Valuation & Returns
10 Jul 2026At ₹248 a share on 10 Jul 2026, Madhusudan Masala Ltd (MADHUSUDAN) was valued at a price-to-earnings ratio of 19.53x against an industry P/E of 45.12x and a price-to-book of 4.04x on a book value of ₹61.46 per share as of Mar 2025. Solomo computes return on equity of 20.66% and return on capital employed of 19.68% from filed results. Earnings ratios use consolidated results for the twelve months Jun 2025 to Mar 2026.
- P/E
- 19.53x
- Industry P/E
- 45.12x
- P/B
- 4.04x
- EPS (TTM)
- ₹12.7
- Book value / share
- ₹61.46
- ROE
- 20.66%
- ROCE
- 19.68%
- ROA
- 10.79%
- Debt / equity
- 0.8x
- Dividend yield
- 0%
- EBITDA margin
- 11.76%
- 52-week range
- ₹108.6 – ₹260
Ratios are computed from filed results and the last recorded price. Not investment advice.
Financial Performance
Mar 2026In the year ended Mar 2026, Madhusudan Masala Ltd (MADHUSUDAN) reported revenue of ₹292 crore, net profit of ₹18 crore and earnings per share of ₹12.14. That compares with revenue of ₹231 crore and net profit of ₹15 crore in Mar 2025. Figures are consolidated, as filed with the exchanges.
In the quarter ended Mar 2026, revenue was ₹97.17 crore and net profit ₹6.14 crore (consolidated).
| Metric | Mar 2025 | Mar 2026 |
|---|---|---|
| Revenue (₹ cr) | 231 | 292 |
| Net profit (₹ cr) | 15 | 18 |
| EPS (₹) | 10.38 | 12.14 |
| Measure | 3Y | 1Y |
|---|---|---|
| Sales growth | 49.03% | 33.46% |
| Profit growth | 143.01% | 26.85% |
| Stock price CAGR | - | 60% |
Ownership Summary
Mar 2026As of Mar 2026, promoters hold 69.53% of Madhusudan Masala Ltd (MADHUSUDAN). Market capitalisation was ₹378 crore on 10 Jul 2026. Shareholding is filed quarterly with BSE and NSE; Solomo carries every filing back to Sep 2023.
Largest disclosed public shareholders in Mar 2026: COMPACT STRUCTURE FUND 3.87%, PARESH N BHAGAT 2.81%. Only stakes above the 1% disclosure threshold are named in filings.
| Quarter | Promoter | Pledged | FII | DII | Public |
|---|---|---|---|---|---|
| Mar 2026 | 69.53% | - | - | - | - |
| Sep 2025 | 68.09% | - | - | - | - |
| Mar 2025 | 68.09% | - | - | - | - |
| Sep 2024 | 66.93% | - | - | - | - |
| Mar 2024 | 73.69% | - | - | - | - |
| Sep 2023 | 73.64% | - | - | - | - |