Madhusudan Masa
Madhusudan Masa Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Madhusudan Masala targets a 30% CAGR in revenue growth until 2030. Post phase 1 CapEx, Madhusudan Masala targets peak revenue of INR 550-600 crores with estimated profit after tax between INR 30-35 crores.
From Madhusudan Masa's Q3 FY26 earnings-call transcript · updated 26 Aug 2026.
Revenue & Sales Performance
- Madhusudan Masala targets a 30% CAGR in revenue growth until 2030.
- Growth drivers include geographical expansion, deep penetration in existing markets (notably North India and UP), and onboarding new distributors.
- Current capacity utilization is at 100%, with greenfield expansion phase 1 (6,000 MT) expected operational by October 2026, enabling peak revenue of around INR 550-600 crores.
- Phase 2 expansion (12,000 MT) is planned subsequently, with estimated CapEx of INR 35-40 crores, potentially funded 50% by debt and promoter warrants conversion, with no immediate new equity raise required.
- Distribution network expected to expand by adding 10,000+ retail stores and 100+ distributors annually.
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Profitability & Margins
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Capital Expenditure Plans
- Phase 1 CapEx: INR 18 crores for 6,000 metric tons capacity (greenfield project at Jamnagar), expected operational by October 2026, fully spent.
- Phase 2 CapEx: Estimated INR 35-40 crores for expansion to 12,000 metric tons capacity, focusing on blended spices and CTC/grocery products; timing to start after Phase 1 commercial production begins.
- Funding for Phase 2: Planned 50% debt; promoters' warrant conversion pending at INR 181 price, reducing need for further equity raising.
- No current definitive fundraising for Phase 2; will decide debt vs. equity later.
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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 Masa — 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
Others in Food Products this season
- Annapurna Swadisht Ltd (Q3 FY26)
Revenue for Q3 FY26: ₹394.29 Cr, up 16% YoY from ₹340.07 Cr in Q3 FY25. Key investor presentation takeaways from Annapurna Swadisht Ltd's Q3 FY26 investor prese
- Narmada Agrobase (Q3 FY26)
Q3 FY26 Revenues: ₹2,135.35 Lakhs, up from ₹1,383.65 Lakhs in Q3 FY25 . Key investor presentation takeaways from Narmada Agrobase's Q3 FY26 investor presentatio
- Mukka Proteins (Q3 FY26)
Q3 FY26 Revenue from Operations: ₹244.6 Cr, down from ₹303.2 Cr in Q3 FY25 (approx. Key investor presentation takeaways from Mukka Proteins Ltd's Q3 FY26 invest
- Hatsun Agro (Q3 FY26)
Hatsun Agro is on track to reach around ₹10,000 crore in revenue for the current year, with a possible slight miss or hit around this figure. Key concall…
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Frequently Asked Questions
What were Madhusudan Masa Q3 FY26 results?
Madhusudan Masala targets a 30% CAGR in revenue growth until 2030. Post phase 1 CapEx, Madhusudan Masala targets peak revenue of INR 550-600 crores with estimated profit after tax between INR 30-35 crores.
What is Madhusudan Masa share price analysis?
Madhusudan Masa currently shows a neutral. The stock trades at a P/E of 19.2 with a market cap of ₹351 Cr. Investors should review the full earnings analysis for detailed insights.
Is Madhusudan Masa planning capital expenditure?
Phase 1 CapEx: INR 18 crores for 6,000 metric tons capacity (greenfield project at Jamnagar), expected operational by October 2026, fully spent. - Phase 2 CapEx: Estimated INR 35-40 crores for expansion to 12,000 metric tons capacity, focusing on blended spices and CTC/grocery products; timing to start after Phase 1 commercial production begins. - Funding for Phase 2: Planned 50% debt; promoters' warrant conversion pending at INR 181 price, reducing need for further equity raising. - No current definitive fundraising for Phase 2; will decide debt vs.
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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.