Incorporated in 2021, Madhusudan Masala Limited is involved in the manufacturing and processing of more than 32 types of Spices under the brand names “Double Hathi” and “Maharaja” from its facility located in Jamnagar, Gujarat. The company is also engaged in the sale of products like whole spices, tea and other grocery products.
During the financial years 2023, 2022 and 2021, the revenue from the sale of spices contributed to 75.07%, 69.94% and 83.08%, respectively of its overall sales. The Double Hathi portfolio of ground spices comprises premium quality spices whereas value for money segment of ground spices is offered under the Maharaja portfolio.
India is the world's largest producer, exporter, and consumer of spices, and it supplies more than 180 other nations with both raw and processed spices. Spice exports from India make up about 14% of all exports. The company’s export revenue growth is likely to be supported by the initiatives taken by the Spices Board of India, which include infrastructure development, promoting Indian spice brands abroad, setting up infrastructure in the major spice growing centres, promoting organic spices and special programmes
for north-eastern entrepreneurs.
Madhusudan Masala Limited IPO Details
Madhusudan Masala Limited IPO Date
Madhusudan Masala Limited IPO is a fresh issue of ₹23.80 crores with equity shares aggregating up to 34,00,000 shares. Madhusudan Masala Limited’s IPO will be listed on the NSE SME exchange on October 03, 2023.
Madhusudan Masala Limited IPO Price Band
The price range of the IPO has been fixed at ₹66 to ₹70 per share.
Madhusudan Masala Limited IPO Lot Size
The Madhusudan Masala Limited IPO lot size is 2,000 shares and the minimum investment will be ₹1,40,000.
Madhusudan Masala Limited IPO Objectives
The objectives of Madhusudan Masala Limited IPO are listed below:
- For financing working capital requirements.
- For general corporate purposes.
Peer Details
As per DRHP, Madhusudan Masala Limited has only one listed peer - NHC Food Limited.
How To Check the Allotment Status of the Madhusudan Masala Limited IPO?
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Contact Details of Madhusudan Masala Limited
Registered office: F. P. No. 19, Plot No. 1 - B Hapa
Road, Jamnagar, Gujarat-361001, India
Phone: +91- 0288 - 2572002
E-mail: info@madhusudanmasala.com
Madhusudan Masala Company Financials
| Particulars | 31 Mar 2023 (₹ in Crore) | 31 Mar 2022 (₹ in Crore) |
|---|---|---|
| Total Income | 12,750.57 | 6,651.81 |
| Profit After Tax (PAT) | 575.89 | 81.29 |
| Assets | 5,736.52 | 3,514.29 |
| Total Borrowings | 4,217.20 | 2,819.53 |
| Reserves and Surplus | 599.10 | 30.07 |
Know before investing
Strengths
3The spice business is brand-sensitive and the company has created a name as it has been in the industry for four decades. This has helped the business to establish its brands “Double Haathi” and “Maharaja”.
The company has established a long-standing relationship with its customers and as a result, a network of over 2,100 wholesalers and more than 3,700 retailers as of March 31, 2023, has been developed by the company.
The company operates a diversified product portfolio of 32 types of ground and blend spices. This has fueled the revenue growth of the business over the years.
Risks
3The company's business is highly exposed to competitive pressure from both organised and unorganised players. This could hamper the business performance.
The performance of the wholesalers plays a pivotal role in the company’s business growth. Any failure in sales by the wholesalers may adversely affect its business operations.
The company generates a major portion of its revenue from certain parts of Gujarat, resulting in major dependence on a single location. Any failure in the business expansion into new geographic regions may restrict its growth.
