Madhusudan Masala Limited — Investor Meet, 03-06-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Madhusudan Masala reported FY25 revenue of INR230 Cr, up 33% YoY led by ~36-37% volume growth amid commodity volatility. EBITDA margin held steady near 11%, supported by branded sales rising to 62% of revenue. Capacity utilization was 82% at key units. Strong presence in Gujarat (70% of branded sales) and expanding in Maharashtra and emerging markets via Vitagreen. Management targets 30%+ revenue growth for FY26 with stable margins, expecting seasonality to shift closer to 40:60 H1-H2. Elevated working capital aligns with raw material stocking; marketing push includes digital and regional expansion. Confident outlook driven by organized market growth and distribution scaling.