Madhusudan Masala Limited IPO
i. Madhusudan Masala 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”. They also sell 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”.
ii. Operating in the industry since last four decades, our promoters, Dayalji Vanravan Kotecha and Vijaykumar Vanravan Kotecha laid the foundation of the business and formed a partnership firm M/s Madhusudan & Co registered with Registrar of firms, Gujarat in the year 1982 with the objective to manufacture spices and other food products. With the focus on providing quality food products, cost effectiveness and improved accessibility they have been selling our products under the brand name of “DOUBLE HATHI” since 1977 and under the brand name of “MAHARAJA” since 2003.
iii. Their range of spices includes
(i) Ground spices which comprises of various varieties of Chilli Powder, Turmeric Powder, Coriander Powder and Coriander Cumin Powder and
(ii) Blend spices which comprises of Garam Masala, Tea Masala, Chhole Masala, Sambhar Masala, Pav Bhaji Masala, Pani Puri Masala, Sabji Masala, Kitchen King Masala, Chicken Masala, Meat Masala, Chatpata Chat Masala, Butter Milk Masala, Chewda Masala, Dry Ginger Powder (Sunth), Black Pepper Powder (Mari), Dry Mango Powder (Aamchur) etc.
iv. The company also deals in whole spices in retail and bulk quantity. During the Fiscals 2023, 2022 and 2021 the revenue from sale of spices contributed to 75.07%, 69.94% and 83.08% of their overall sales. The Double Hathi portfolio of ground spices comprises of premium quality spices whereas value for money segment of ground spices is offered under the Maharaja portfolio. Over the years the company has evolved as manufacturer of 13 types of chilli powder available in 78 SKUs catering to almost every customer segment in the industry.
v. They operate from their manufacturing facility located at Jamnagar, Gujarat. Their 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. Their 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 their 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.
i. We have a recognized brand name with heritage and a legacy of over four decades
ii. Consistent focus on quality
iii. Long Standing Relationship with our customers
Objects of the Madhusudan Masala Limited IPO:
Madhusudan Masala Limited IPO Details:
|Open Date:||Sep 18 2023|
|Close Date:||Sep 21 2023|
|Face Value:||₹ 10 Per Equity Share|
|Issue Type:||Book Built Issue IPO|
|Issue Size:||23.80 Cr.|
|Lot Size:||2000 Shares|
|Issue Price:||₹ 66 to ₹70 Per Equity Share|
|Listing At:||NSE Emerge|
|Listing Date:||Sep 29 2023|
Promoters And Management:
Financials of Madhusudan Masala Limited IPO:
Pariculares ( In Lakhs )
|Revenue from Operations||6,868||6,541||12,722|
|Cost of Material Consumed||6,087||6,316||12,061|
|Changes in Inventories||102||-354||-935|
|Employee Benefits Expense||124||95||110|
|Depreciation & Amortisation||56||67||63|
Comparison With Peers:
|Name of the Company||Revenue (In Crore)||PAT (In Crore)||EPS ( in Rs)||P/E||CMP||Mcap (In Crore)|
|Madhusudan Masala Limited||127||6||4.46||15.68||70||90.3|
|NHC Food Limited||164||2||1.48||29.0||45||52.8|