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Madhusudan Masala Ltd (MADHUSUDAN)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: MADHUSUDAN Consumer Food | Small Cap | Madhusudan Masala Share Price

BSE Share Price
Not Listed

Madhusudan Masala Ltd (MADHUSUDAN)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: MADHUSUDAN Consumer Food | Small Cap | Madhusudan Masala Share Price

BSE Share Price
Not Listed
Key Metrics
Valuation Multiples
Market Cap
₹246 Cr.
Current Price
₹0
52-Week Low / High
₹0 / 0
TTM EPS
₹10.6
TTM Sales
₹262 Cr.
Book Value per Share
₹77.2
P/E Ratio
15.25
Lower than its 5-year historical median
Industry PE
55.5
Price to Book (P/B)
2.09
Lower than its 5-year historical median
Price to Sales (P/S)
0.94
Lower than its 5-year historical median
EV/EBITDA
10.45
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
17.04%
Outperforms industry median
Return on Capital Employed (ROCE)
16.98%
Outperforms industry median
Return on Assets (ROA)
8.68%
Operating Profit Margin
10.3%
Net Profit Margin
5.39%
Gross Profit Margin
8%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
33.46%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
28.29%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
26.85%
Asset Quality
Promoter Holding
69.53%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹102 Cr.
Equity
₹15.2 Cr.
Face Value
₹10
All Time Low / High
- / -

Madhusudan Masala stock performance

Key Ratios
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Quality

Not Good
Check detailed performance

Valuation

Undervalued

Check Valuation charts

Price Trend

Semi Strong
Check Price chart
Q.1 Is Madhusudan Masala Ltd a good quality company?
Madhusudan Masala Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

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We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

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How does Madhusudan Masala Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Madhusudan Masala Ltd vs industry peers?
Madhusudan Masala Ltd revenue CAGR is 49.03%, compared to the industry median CAGR of 10.88%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Madhusudan Masala Ltd?
Promoters hold 69.53% of the Madhusudan Masala Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Madhusudan Masala Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of -10.77% based on the current price.
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10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Madhusudan Masala Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation ⓘ

Mar'22Mar'23Mar'24Mar'25TTM
ROCE % ⓘ9.2%27%22.2%17%-
Value Creation
Index ⓘ		-0.40.90.60.2-

Growth Parameters ⓘ
Sales ⓘ65.4127162217262
Sales YoY Gr.-94.5%27.5%33.5%-
Adj EPS ⓘ418.96.37.17.810.6
YoY Gr.--98.5%12.3%9.7%-
BVPS (₹) ⓘ172.611.935.762.877.2
Adj Net
Profit ⓘ		0.85.79.211.316
Cash Flow from Ops. ⓘ-5.1-9.2-28.6-30.3-
Debt/CF from Ops. ⓘ-5.6-4.6-1.8-2.2-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘNANA49%33.5%
Adj EPS ⓘNANA-73.5%9.7%
BVPSⓘNANA-28.6%76%
Share Price - - - 8.3%

Key Financial Parameters ⓘ

Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ		242.7103.232.316.415.2
Op. Profit
Mgn % ⓘ		3.3910.710.311
Net Profit
Mgn % ⓘ		1.24.55.75.26.2
Debt to
Equity ⓘ		90.841.10.70.1
Working Cap
Days ⓘ		0112157198124
Cash Conv.
Cycle ⓘ		08712616668

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'22Mar'23Mar'24Mar'25
Sales65127162217
Operating Expenses ⓘ + 63116145194
Manufacturing Costs1011
Material Costs60111138185
Employee Cost 1123
Other Costs ⓘ 2345
Operating Profit ⓘ 2111722
Operating Profit Margin (%) 3.3%9.0%10.7%10.3%
Other Income ⓘ + 1001
Exceptional Items ⓘ 0000
Interest ⓘ 2346
Depreciation ⓘ 1112
Profit Before Tax ⓘ 181215
Tax ⓘ 0234
Profit After Tax 16912
PAT Margin (%) 1.2%4.5%5.7%5.4%
Adjusted EPS (₹)451.66.47.18.1
Dividend Payout Ratio (%)0%0%0%0%

Valuation of Madhusudan Masala - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 0114691
Share Capital ⓘ 051314
Reserves ⓘ 063376
Debt +27425163
Long Term Debt16787
Short Term Debt12344256
Minority Interest0000
Trade Payables6132
Others Liabilities ⓘ 2457
Total Liabilities ⓘ 3557105164

Fixed Assets

Net Fixed Assets ⓘ +441013
Gross Block9101721
Accumulated Depreciation5668
CWIP ⓘ 0620
Investments ⓘ 0008
Inventories16234288
Trade Receivables13163636
Cash Equivalents 0000
Others Assets ⓘ 281418
Total Assets ⓘ 3557105164

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ + -5-9-29-30
PBT ⓘ 181215
Adjustment ⓘ 2358
Changes in Working Capital ⓘ -8-19-43-50
Tax Paid ⓘ -0-2-3-4
Cash Flow From Investing Activity ⓘ + 0-6-3-10
Capex 0-6-3-3
Net Investments 000-8
Others ⓘ -0-010
Cash Flow From Financing Activity ⓘ + 5163141
Net Proceeds from Shares ⓘ -052634
Net Proceeds from Borrowing ⓘ 1031-1
Interest Paid ⓘ -2-3-4-6
Dividend Paid ⓘ 0000
Others ⓘ -311914
Net Cash Flow ⓘ -00-0-0

Financial Ratio

PARTICULARSMar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)N/A104.7932.4317.04
ROCE (%)N/A26.9522.2116.98
Asset Turnover Ratio1.862.7521.61
PAT to CFO Conversion(x)-5-1.5-3.22-2.5
Working Capital Days
Receivable Days70.5041.8058.8060.70
Inventory Days88.5055.6073.60110.30
Payable Days36.1011.706.105.70

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Madhusudan Masala Ltd FAQs

The current trading price of Madhusudan Masala on 01-Jan-1970 05:30 is ₹0.00.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 31-Dec-1969 the market cap of Madhusudan Masala stood at ₹246.4 Cr

The latest P/E ratio of Madhusudan Masala as of 31-Dec-1969 is 15.25.

The latest P/B ratio of Madhusudan Masala as of 31-Dec-1969 is 2.09.

The 52-week high of Madhusudan Masala is ₹0.00 and the 52-week low is ₹0.00.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Madhusudan Masala is ₹262 ( Cr.) .

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 Undervalued 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.

About Madhusudan Masala Ltd

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 

  • Ground spices
  • Blend spices
  • Whole spices
  • Tea
  • Food grains
  • Other grocery products

History and milestones 

  • 1982: Established Partnership firm in the name of M/s Madhusudan and Co.
  • 2000: Received AGMARK certification for its spices from Agriculture Produce (Grading and marketing) Act, 1937.
  • 2003: Launched ‘MAHARAJA’ brand for sale of spices like Chilli Powder.
  • 2015: Started current manufacturing unit situated at Industrial Area Hapa, Near Jamnagar. Got HACCP, ISO 9001 and ISO 22000 certifications for this factory unit.
  • 2016: Received FSSAI License.
  • 2021: Conversion of Partnership Firm into Company in the name of ‘Madhusudan Masala Private Limited’.
  • 2022: Initiated set up of multi commodity agri products cold storage with capacity of 4029 MT.
  • 2023: Conversion of Private Company to Public Limited Company.

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