Madhusudan Masala Ltd
Madhusudan Masala Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
FY26 revenue target is INR 300-310 crore, aiming to surpass this with strong H2 performance. FY26 EBITDA margin expected to be between 12% to 13%, supported by increased branded sales and efficient raw material procurement.
From Madhusudan Masala Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- FY26 revenue target is INR 300-310 crore, aiming to surpass this with strong H2 performance. (Page 10, 11)
- FY27 revenue target is INR 400 crore on a consolidated basis. (Page 10)
- Capacity expansion will double current manufacturing capacity to 12,000 metric tons by Q1 FY27, supporting volume growth. (Pages 7, 10, 23, 25)
- Branded products expected to contribute 70%-75% of revenue in FY26, up from 66% last year, indicating shift towards higher-margin products. (Page 7, 18)
- Geographic expansion focused on northern states to increase market share beyond core Gujarat and Maharashtra. Northern region's revenue share expected to rise from ~12-13% to ~20% in H2 FY26. (Pages 10, 25)
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Profitability & Margins
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Capital Expenditure Plans
- Current CapEx: INR 18 crore allocated for phase 1 expansion adding 6,000 metric tons capacity, expected to go live by Q1 FY27.
- Existing Capacity: 5,400 metric tons; post phase 1 expansion total capacity will be 12,000 metric tons.
- Phase 2 Expansion: Planned for Q3 or Q4 FY27 with capacity addition between 18,000 to 22,000 metric tons (under consideration, not finalized).
- Funding: Phase 1 CapEx funded through internal accruals; subsequent phases expected to be funded via warrant conversion and internal accruals without debt.
- Strategic Focus: Expansion mainly targets branded products; production capacity increases aligned with growing sales demand.
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Top-ranked in Food Products
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
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Madhusudan Masala Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹97 Cr, net profit ₹6 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Madhusudan Masa's management said in earlier quarters
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Frequently Asked Questions
What were Madhusudan Masala Ltd Q2 FY26 results?
FY26 revenue target is INR 300-310 crore, aiming to surpass this with strong H2 performance. FY26 EBITDA margin expected to be between 12% to 13%, supported by increased branded sales and efficient raw material procurement.
What is Madhusudan Masala Ltd share price analysis?
Madhusudan Masala Ltd currently shows a neutral. The stock trades at a P/E of 20.4 with a market cap of ₹373 Cr. Investors should review the full earnings analysis for detailed insights.
Is Madhusudan Masala Ltd planning capital expenditure?
Current CapEx: INR 18 crore allocated for phase 1 expansion adding 6,000 metric tons capacity, expected to go live by Q1 FY27.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.