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BSE: 0 | NSE: MADHUSUDAN | Consumer Food | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Madhusudan Masala Ltd is a below average quality company.
The key valuation ratios of Madhusudan Masala Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Madhusudan Masala Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'22 | Mar'23 | TTM | |
|---|---|---|---|
| ROCE % ⓘ | 6.7% | 19.6% | - |
| Value Creation Index ⓘ | -0.5 | 0.4 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||
| Sales ⓘ | 65.4 | 127 | 127 |
| Sales YoY Gr. | - | 94.5% | - |
| Adj EPS ⓘ | 418.9 | 6.4 | 4.5 |
| YoY Gr. | - | -98.5% | - |
| BVPS (₹) ⓘ | 172.6 | 12.2 | 34 |
| Adj Net Profit ⓘ | 0.8 | 5.7 | 6 |
| Cash Flow from Ops. ⓘ | -5.1 | -9.3 | - |
| Debt/CF from Ops. ⓘ | -5.6 | -4.6 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | NA | 94.5% | ||||
| Adj EPS ⓘ | NA | NA | NA | -98.5% | ||||
| BVPSⓘ | NA | NA | NA | -92.9% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'22 | Mar'23 | TTM | |
|---|---|---|---|
| Return on Equity % ⓘ | 242.7 | 101.1 | 19.3 |
| Op. Profit Mgn % ⓘ | 3.3 | 8.9 | NAN |
| Net Profit Mgn % ⓘ | 1.2 | 4.5 | 4.5 |
| Debt to Equity ⓘ | 90.8 | 3.8 | - |
| Working Cap Days ⓘ | 0 | 112 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 87 | 0 |
Debt to equity has declined versus last 3 years average to 3.84
Return on Equity has declined versus last 3 years average to 19.30%
Sales growth has been subdued in last 3 years 0.00%
Net Profit has been subdued in last 3 years 0.00%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 4.5 | - |
| TTM Sales (₹ Cr.) | 127 | - |
| BVPS (₹.) ⓘ | 34 | - |
| Reserves (₹ Cr.) ⓘ | 31 | - |
| P/BV ⓘ | 3.27 | - |
| PE ⓘ | 24.86 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.00 / 0.00 |
| All Time Low / High (₹) | - / - |
| Market Cap (₹ Cr.) | 143 |
| Equity (₹ Cr.) | 12.9 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 65.6 |
| Pledged * | 0.00 | 0.00 |
| PARTICULARS | Mar'22 | Mar'23 |
|---|---|---|
| Sales | 65 | 127 |
| Operating Expenses ⓘ | 63 | 116 |
| Manufacturing Costs | 1 | 1 |
| Material Costs | 60 | 111 |
| Employee Cost | 1 | 1 |
| Other Costs ⓘ | 1 | 2 |
| Operating Profit ⓘ | 2 | 11 |
| Operating Profit Margin (%) | 3.3% | 8.9% |
| Other Income ⓘ | 1 | 0 |
| Interest ⓘ | 2 | 3 |
| Depreciation ⓘ | 1 | 1 |
| Exceptional Items ⓘ | 0 | 0 |
| Profit Before Tax ⓘ | 1 | 8 |
| Tax ⓘ | 0 | 2 |
| Profit After Tax | 1 | 6 |
| PAT Margin (%) | 1.2% | 4.5% |
| Adjusted EPS (₹) | 451.6 | 6.4 |
| Dividend Payout Ratio (%) | 0% | 0% |
| PARTICULARS | Mar'22 | Mar'23 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 0 | 11 | ||||||||
| Share Capital ⓘ | 0 | 5 | ||||||||
| Reserves ⓘ | 0 | 6 | ||||||||
| Minority Interest | 0 | 0 | ||||||||
| Debt | 27 | 41 | ||||||||
| Long Term Debt | 16 | 14 | ||||||||
| Short Term Debt | 12 | 27 | ||||||||
| Trade Payables | 6 | 1 | ||||||||
| Others Liabilities ⓘ | 2 | 4 | ||||||||
| Total Liabilities ⓘ | 35 | 57 | ||||||||
Fixed Assets | ||||||||||
| Gross Block | 9 | 10 | ||||||||
| Accumulated Depreciation | 5 | 5 | ||||||||
| Net Fixed Assetsⓘ | 4 | 4 | ||||||||
| CWIP ⓘ | 0 | 6 | ||||||||
| Investmentsⓘ | 0 | 0 | ||||||||
| Inventories | 16 | 23 | ||||||||
| Trade Receivables | 13 | 16 | ||||||||
| Cash Equivalents | 0 | 0 | ||||||||
| Others Assetsⓘ | 2 | 8 | ||||||||
| Total Assets ⓘ | 35 | 57 | ||||||||
| PARTICULARS | Mar'22 | Mar'23 |
|---|---|---|
| Cash Flow From Operating Activity ⓘ | -5 | -9 |
| PBT ⓘ | 1 | 8 |
| Adjustment ⓘ | 2 | 4 |
| Changes in Working Capital ⓘ | -8 | -20 |
| Tax Paid ⓘ | 0 | -1 |
| Cash Flow From Investing Activity ⓘ | 0 | -6 |
| Capex | 0 | -6 |
| Net Investments | 0 | 0 |
| Others ⓘ | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 5 | 16 |
| Net Proceeds from Shares ⓘ | 0 | 5 |
| Net Proceeds from Borrowing ⓘ | 10 | -2 |
| Interest Paid ⓘ | -2 | -3 |
| Dividend Paid ⓘ | 0 | 0 |
| Others ⓘ | -3 | 16 |
| Net Cash Flow ⓘ | 0 | 0 |
| PARTICULARS | Mar'22 | Mar'23 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | N/A | 101.91 | ||||||||
| ROCE (%) | N/A | 26.94 | ||||||||
| Asset Turnover Ratio | 1.86 | 2.75 | ||||||||
| PAT to CFO Conversion(x) | -5 | -1.5 | Working Capital Days | |||||||
| Receivable Days | 70 | 42 | ||||||||
| Inventory Days | 88 | 56 | ||||||||
| Payable Days | 36 | 12 | ||||||||
Madhusudan Masala was originally formed as a partnership firm registered under the Indian Partnership Act, 1932 with Registrar of Firms, Gujarat in the name and style of ‘M/s. Madhusudan & Co’, pursuant to a deed of partnership entered between Dayalji Vanravan Kotecha and Vijaykumar Vanravan Kotecha in 1982. Further ‘M/s Madhusudan & Co.’ was converted from partnership firm to a Private Limited Company under Part I of chapter XXI of the Companies Act, 2013 in the name of ‘Madhusudan Masala Private Limited’ vide Certificate of Incorporation dated December 14, 2021. Subsequently the Company was converted into a public limited company vide special resolution passed by the shareholders at the Extra Ordinary General Meeting held on April 15 2023 and consequently the name of the Company was changed from ‘Madhusudan Masala Private Limited’ to ‘Madhusudan Masala Limited’ vide fresh Certificate of Incorporation granted to the Company consequent upon conversion into public limited company dated April 29, 2023 by the Registrar of Companies, Ahmedabad.
The company 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’. it also sells products like: Whole Spices, Tea and Other Grocery Products like: 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), Kasuri Methi (Dry fenugreek) etc under the brand name of ‘DOUBLE HATHI’. Furthermore it also generates revenue from trading of whole spices and food grains through unbranded sales.
It operates from its manufacturing facility located at Jamnagar, Gujarat. Its manufacturing unit is situated at Industrial Area Hapa, Near Jamnagar and is strategically located near the local APMC market thus facilitating easy and quick access to raw materials which reduces the transportation costs as well. Its manufacturing facility is equipped with plant & machinery to facilitate efficient production process of cleaning, drying, grading, grinding and packaging. All spices and other products are manufactured at its unit with utmost care and by way of natural process with scientific methods so as to retain the natural properties of the food like color & odor with time. Systematic procurement of raw spices in their respected seasons helps it to provide linear quality spices for the whole year.
Business area of the company
The company 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’.
Products of the company
History and milestones
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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