Madhusudan Masala Limited — PPTs, 23-07-2026: Investor Presentation

Madhusudan Masala showed robust Q1 FY27 performance, with consolidated revenue up 34.5% YoY to **₹98.3 Cr**. A strong shift to branded products is evident, now forming 72% of total revenue. Volumes reached 8,134 MT, with Gujarat contributing 45% of revenue.

The company's strategy leverages a "dual engine" approach, with Madhusudan (Ground Spices) for volume and Vitagreen (Blended Spices) for higher margins. Focus is on expanding PAN-India distribution and enhancing the product portfolio with region-specific blends.

Key developments include a 20% capacity expansion at the Jamnagar unit in Q1 FY27 (now 7,200 MT) and the ongoing greenfield expansion at Sanosara. This new facility, expected to commence production by September 2026, will add 6,000 MT, boosting total capacity by 69%.

Profitability outpaced revenue: EBITDA surged 47.3% YoY to **₹11.1 Cr**, and Net Profit jumped 56.1% YoY to **₹6.5 Cr**. EPS grew 46.5% to ₹4.22. EBITDA margin improved to 11.3% (+98 bps) and Net Profit margin to 6.6% (+92 bps).

Management highlighted strong branded growth and disciplined execution, targeting a 35% CAGR over the next 3-5 years. The company is transitioning into a multi-category FMCG brand, leveraging industry tailwinds from the shift to branded and hygienic spices.