Debut Plus

₹241.1

▲ +2.6 +1.09%

17 Jul 2026

NSE Listed · FMCG

ESM 1

Madhusudan Masala Limited (MADHUSUDAN)

Volume: 71,000Avg Vol 1W: 48,600Avg Vol 1M: 1,54,68252W Range:₹108.6₹260
NSE BSE www.madhusudanmasala.com
Key Ratios
Checked just now
Market Cap₹367 Cr
Current Price₹241.1
Previous Close₹238.5
High / Low (52w)₹260 / ₹108.6
Volume71,000
Avg Vol (1W)48,600
Avg Vol (1M)1,54,682
Stock P/E19.86
Book Value₹80.49
Dividend Yield0%
ROE15.08%
ROA8.42%
Revenue (TTM)—
Revenue Growth—
Profit Margin6.34%
Total Debt₹9 Cr
Shares Outstanding2 Cr
Face Value₹10
EPS (TTM)₹12.14
P/B3
Debt / Equity0.8
50 DMA₹185.47
200 DMA₹148.02
Day change+1.09%
SurveillanceESM 1 (as of 2026-07-17)
Price Chart
₹241.1▲ 60.20% · 1Y
₹256₹1096.1L
2025-07-17
2026-07-17

20-day avg volume: 1.7L shares

Pros
  • Healthy return on equity of 15.1%.
  • Company is almost debt-free.
  • Revenue grew 43% YoY.
  • Net profit is growing year over year.
Quarterly Results
MetricJun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026
Revenue₹30 Cr₹70 Cr₹63 Cr₹73 Cr₹73 Cr₹45 Cr₹76 Cr₹97 Cr
EBITDA₹3 Cr₹7 Cr₹4 Cr₹7 Cr₹7 Cr₹6 Cr₹8 Cr₹10 Cr
Net Profit₹2 Cr₹4 Cr₹2 Cr₹6 Cr₹4 Cr₹3 Cr₹5 Cr₹6 Cr
EPS1.34———————
Profit & Loss (Annual)
MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Revenue₹69 Cr₹67 Cr₹128 Cr₹163 Cr₹232 Cr
EBITDA₹2 Cr₹3 Cr₹11 Cr₹17 Cr₹23 Cr
Net Profit₹0 Cr₹1 Cr₹6 Cr₹9 Cr₹15 Cr
EPS8.5315.4111.518.2710.93
Balance Sheet
MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Total Assets₹26 Cr₹35 Cr₹57 Cr₹105 Cr₹179 Cr
Total Liabilities₹15 Cr₹35 Cr₹47 Cr₹59 Cr₹86 Cr
Equity₹11 Cr₹0 Cr₹11 Cr₹46 Cr₹94 Cr
Total Debt₹6 Cr₹16 Cr₹7 Cr₹8 Cr—
Cash Flow
MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating₹2 Cr₹-5 Cr₹-7 Cr₹-25 Cr₹-35 Cr
Investing₹-1 Cr₹0 Cr₹-6 Cr₹-3 Cr₹-7 Cr
Financing₹-1 Cr₹5 Cr₹16 Cr₹31 Cr₹45 Cr
Free Cash Flow₹2 Cr₹-5 Cr₹-7 Cr₹-25 Cr₹-35 Cr
Shareholding
Promoter 70.47% Institutions 5.16% Public 24.38%
Efficiency & Working Capital
ROCE15.4%
Interest Coverage3.7
Dividend Payout—
Debtor Days75 d
Inventory Days155 d
Payable Days8 d
Cash Conversion Cycle222 d
Working Capital Days230 d
Shareholding Details

As of 2026-06-30

Promoter70.5%
FII0.7%
DII4.5%
Institutions5.2%
Public24.4%
Promoter Pledge0%
No. of Shareholders1,347
Shareholding Pattern

Quarterly — figures in %. Latest 9 quarters.

PeriodSept 2023Oct 2023Oct 2023Mar 2024Sept 2024Mar 2025Sept 2025Mar 2026Jun 2026
Promoters73.6%73.6%73.7%73.7%66.9%68.1%68.1%69.5%70.5%
FIIs3.7%4.8%4.8%1%1.1%0%0.4%0.7%0.7%
DIIs0%6.4%0.7%0%0%0%0%4.9%4.5%
Public22.6%15%20.8%25.3%32%31.9%31.5%24.8%24.4%
Promoter Pledge0%0%0%0%0%0%0%0%0%
No. of Shareholders7768478478771,4281,5321,5191,3951,347
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202503————
Major Shareholders (>1%)
NameCategoryStakeShares
Rishit Dayalaji KotechaShareholding of Promoter and Promoter Group19.3%31,16,000
Hiren KotechaShareholding of Promoter and Promoter Group19.1%30,84,000
Vijaykumar Vanravan KotechaShareholding of Promoter and Promoter Group9.9%16,00,000
Dayalji Vanravan KotechaShareholding of Promoter and Promoter Group9.9%16,00,000
Foram Rishit KotechaShareholding of Promoter and Promoter Group5.3%8,55,000
Mayuri Hiren KotechaShareholding of Promoter and Promoter Group5.3%8,55,000
Compact Structure FundPublic Shareholding3.7%5,90,000
Paresh N BhagatPublic Shareholding2.7%4,29,000
Madhusudan Auto-biz Private LimitedShareholding of Promoter and Promoter Group1.6%2,54,000
Anilbhai Parsotam RaichuraShareholding of Promoter and Promoter Group0%6,000
Bakulbhai Vanravan PopatShareholding of Promoter and Promoter Group0%0
Champaben Vrundavan PopatShareholding of Promoter and Promoter Group0%0
Chandrikaben Dayalaji KotechaShareholding of Promoter and Promoter Group0%0
Chhotalal Parsotam RaichuraShareholding of Promoter and Promoter Group0%0
Dharmanshu Gangaram BhattShareholding of Promoter and Promoter Group0%0
Dhirajben Vijaykumar KotechaShareholding of Promoter and Promoter Group0%0
Dipika Kishan PopatShareholding of Promoter and Promoter Group0%0
Dipikaben Dharmanshu BhattShareholding of Promoter and Promoter Group0%0
Divyesh Naginbhai DattaniShareholding of Promoter and Promoter Group0%0
Herat Rishit KotechaShareholding of Promoter and Promoter Group0%0
Jagdishbhai Vanravan PopatShareholding of Promoter and Promoter Group0%0
Jamnaben Gokaldas DavdaShareholding of Promoter and Promoter Group0%0
Jamnaben Pramodlal GhelaniShareholding of Promoter and Promoter Group0%0
Jyotsnaben Vrajlal ModiShareholding of Promoter and Promoter Group0%0
Kashyap Dharmanshu BhattShareholding of Promoter and Promoter Group0%0
Promoter Pledges
HolderPledged Shares% of HoldingAs of
Vijaykumar Vanravan Kotecha00%2026-06-13
Dayalji Vanravan Kotecha00%2026-06-13
Rishit Dayalaji Kotecha00%2026-06-13
Hiren Kotecha00%2026-06-13
Foram Rishit Kotecha00%2026-06-13
Mayuri Hiren Kotecha00%2026-06-13
Anilbhai Parsotam Raichura00%2026-06-13
Bakulbhai Vanravan Popat00%2026-06-13
Champaben Vrundavan Popat00%2026-06-13
Chandrikaben Dayalaji Kotecha00%2026-06-13
Chhotalal Parsotam Raichura00%2026-06-13
Dharmanshu Gangaram Bhatt00%2026-06-13
Board of Directors
NameDesignationYear
Rishit Dayalaji KotechaChairman & Managing Director2025
HIREN KOTECHAWhole-time Director2025
Dayalji Vanravan KotechaNon Executive Director2025
VIJAYKUMAR VANRAVAN KOTECHANon Executive Director2025
Foram Rishit KotechaNon Executive Director2025
CHINTAN ASHOKBHAI MEHTAIndependent Non Exe. Director2025
Mayuri Hiren KotechaNon Executive Director2025
Parth Bipin SukhpariaIndependent Non Exe. Director2025
Rashmi AahujaIndependent Non Exe. Director2025
Megha Dilipkumar MadaniCompany Sec. & Compli. Officer2025
Segments — Product
SegmentRevenueShare
Manufacturing and Trading of Spices₹0 Cr—
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2025₹10201414
Corporate Actions
TypeDateValueRemark
forthcoming2026-07-18Board Meetings—
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
2025000495099
2025000494796
2025000122
Company Information
Incorporated2021
ChairmanRishit Dayalaji Kotecha
AuditorSarvesh Gohil and Associates
Investor Email[email protected]
🌐 www.madhusudanmasala.com ↗

📍 F P No 19 Plot # 1 B Hapa Road, Jamnagar, Gujarat, Gujarat, 361001

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