Madhusudan Masala Ltd - Stock Valuation and Financial Performance

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.