Slide 1: Madhusudan Masala Limited Investor Presentation H2 & FY2025
MADHUSUDAN MASALA LIMITED Investor Presentation H2 & FY2025 Refer to Disclaimer
Slide 2: Disclaimer
DISCLAIMER This document has been prepared for information purposes only and is not an offer or invitation or recommendation to buy or sell any securities of Madhusudan Masala Ltd (“MML”, “Madhusudan Masala”, "Company“), nor shall part, or all, of this document form the basis of, or be relied on in
Slide 3: Table of Contents
TABLE OF CONTENTS About Us Business Overview Way Forward Financial Highlights Annexures INVESTOR PRESENTATION 3
Slide 4: About Us
ABOUT US INVESTOR PRESENTATION 4
Slide 5: About Us
ABOUT US Brand legacy of over 40 years in Strong presence in Saurashtra, Gujarat & manufacturing & processing of spices and Mumbai, Maharashtra, expanding reach in food products. the states of Maharashtra, Chandigarh, Punjab, Haryana, UP, Bihar, Jharkhand, Delhi, and J&K. Manufacturer of 32 differen
Slide 6: About Us & Vision Mission
ABOUT US& VISION MISSION Mission ▪ To deliver Quality food products that meet the highest standards ▪ Cost-effective solutions for our customers ▪ Improved accessibility to our products, making them available to a wider audience Vision ▪ Become leading pan-India C-T-C spices brand ▪ Leverage experti
Slide 7: About Us and Timeline (1/2)
ABOUT USAND TIMELINE (1/2) HISTORY 1982 Formed M/s. 1980 Madhusudan & Co., a partnership firm 1996 2000 1981 by the founders. 2003 Acquired own premises in the Registered the Began selling spices Received AGMARK 1977 renowned Grain Established the "DOUBLE HATHI" in polypacks, certification for Marke
Slide 8: About Us and Timeline (2/2)
ABOUT USAND TIMELINE (2/2) HISTORY 2024 Began commercial use of a newly owned cold storage facility with 2023 a capacity of 4029 MT. 2015 2021 2018 Acquired 100% equity stake in Converted into a Vitagreen Products Pvt. Ltd. Established a Converted the public limited State-of-the-Art Established a pa
Slide 9: About Us: Top Management
ABOUT US TOP MANAGEMENT Founded in 1982 by Mr. Dayalji Vanravan Kotecha and Mr. Vijaykumar Vanravan Kotecha, the company has grown into a respected brand, now led by the next generation, Mr. Rishit Dayalji Kotecha and Mr. Hiren Vijaykumar Kotecha, with extensive industry experience. Rishit Dayalji K
Slide 10: Business Overview
BUSINESS OVERVIEW INVESTOR PRESENTATION 10
Slide 11: About Us: Business Model
ABOUT US MODEL BUSINESS Procurement Quality Manufacturing Spices (raw materials) are Consistent quality of spices is All spices and products are sourced during their maintained throughout the carefully manufactured respective seasons and stored year by sourcing ~80% of raw using natural processes an
Slide 12: About Us: Product Portfolio
ABOUT US PORTFOLIO PRODUCT Ground Spices Blend Spices Whole Spices Grocery Products Packaging: 10g to 20kg Packaging: Rs.5, Rs.10 ( MC & Pouch) Packaging: 500g, 1Kg Mint leaves, Kasuri methi, Dry 50g , 100g, 200g, 500g Jar, 1Kg Jar mango powder, Dry ginger Chilli powder ghalor, Kashmiri chilli powde
Slide 13: Manufacturing Process
MANUFACTURING PROCESS Spices and products are manufactured using natural processes and scientific techniques to preserve their natural properties, color, and aroma. Drying Cleaning Grinding Blending Sieving Packing Spices, such as red Raw spices are cleaned Spice particles are finely Ground spices a
Slide 14: Manufacturing Facility (1/2)
MANUFACTURING FACILITY(1/2) Unit 1 Jamnagar, Gujarat ▪ 1 lakh sq. ft. area equipped with modern machinery and automation for top-quality production. ▪ 4,029 MT cold storage facility on-site, eliminating rental storage dependency. ▪ Manufacturing unit located near APMC in Jamnagar, Gujarat for easy a
Slide 15: Manufacturing Facility (2/2)
MANUFACTURING FACILITY(2/2) Unit 2 Rajkot, Gujarat ▪ Established on 50,000 sq. ft. area, including Administration Office and Plant Building. ▪ Adequate storage facility and large warehouse. ▪ Modern grinding and pulverizing machines, flour mixing machines, automatic and semi-automatic packing machin
Slide 16: Geographical Presence
GEOGRAPHICAL PRESENCE ▪ ~35% market share in Saurashtra Jammu & Kashmir (western region of Gujarat) and ~5% in Gujarat overall, demonstrating strong regional presence and customer loyalty. Punjab Uttar Pradesh ▪ Significant growth potential in Chandigarh Bihar Bihar Maharashtra, particularly beyond
Slide 17: Marketing Initiatives (1/3)
MARKETING INITIATIVES (1/3) Boosting brand awareness and expanding the customer base through marketing initiatives designed to reach a wider audience, drive sales, and enhance visibility across various regions. 01 02 03 04 05 06 Distributor Shop Facia Free & Super News Media FM Channel Food Activity
Slide 18: Marketing Initiatives (2/3)
MARKETING INITIATIVES (2/3) Exhibition at Indusfood 2025 (Noida) Exhibition at Khadhya Khurak 2024 (Gandhinagar) INVESTOR PRESENTATION 18
Slide 19: Marketing Initiatives (3/3)
MARKETING INITIATIVES (3/3) Marketing Activity (Hoardings) Sales AGM April 2025 (Silvasa) INVESTOR PRESENTATION 19
Slide 20: Competitive Strengths
COMPETITIVE STRENGTHS Experienced Promoters and Management Team Strong Brand Recognition and Recent Acquisition ▪ 41+ years of combined industry experience providing strong strategic and ▪ Established brands like "DOUBLE HAATHI“, "MAHARAJA“, and "MANTAVYA" trusted for quality. operational leadership
Slide 21: Way Forward
WAY FORWARD INVESTOR PRESENTATION 21
Slide 22: Way Forward
WAY FORWARD Enhancing Regional Presence Expanding Product Portfolio Boosting Sales of Branded Products ▪ Strengthen position in existing ▪ Focus on continuous R&D and ▪ Increase branded spices and food product markets of Saurashtra & Other innovation to meet customer needs. sales as a larger share o
Slide 23: Financial Highlights
FINANCIAL HIGHLIGHTS INVESTOR PRESENTATION 23
Slide 24: Key Financial Highlights
KEY FINANCIAL (CONSOLIDATED – FY25) HIGHLIGHTS (Standalone - Rs Mn) Revenue 2,165.0 Rs 2,309.2 Mn Revenue 1,622.2 33.5% YoY EBITDA EBITDA Margin 222.2 EBITDA Rs 242.5 Mn 10.5% 173.2 28.3% YoY 116.7 Reported Net Profit Net Profit Margin Net Profit 92.0 26.8% YoY Rs 150.2 Mn 5.4% FY25 FY24 INVESTOR PR
Slide 25: Consistent Growth Trajectory
CONSISTENT (STANDALONE) GROWTH TRAJECTORY Revenue EBITDA Net Profit 2,165.0 222.2 173.2 116.7 1,622.2 92.0 Rs Mn Rs Mn Rs Mn 1,272.2 113.9 57.5 FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 EBITDA Margin Net Profit Margin Consistent growth across 10.7 5.7 5.4 topline, EBITDA, and Net Profit, 10.3 4.5
Slide 26: Product-wise Sales Breakdown
PRODUCT-WISE SALES BREAKDOWN Total Revenue Revenue from Branded Products (Branded & Non-Branded) (Product Category) No. of Packets Sold (FY25) 65% 62% 52% ~108 Mn 51% 50% 56% 53% 44% 43% 42% 47% 44% 38% 38% 38% 35% 13% 4% 4% 3% 5% 2% 3% 1% 2% 3% 2% 1% FY22 FY23 FY24 FY25 * FY22 FY23 FY24 FY25 * Bran
Slide 27: Half Yearly Income Statement (Standalone)
HALF YEARLY (STANDALONE) INCOME STATEMENT Particulars (INR Mn) H2FY25 H1FY25 H2FY24 YoY % HoH% FY25 FY24 YoY % Revenue from operations 1,216.8 948.2 1,079.4 12.7 28.3 2,165.0 1,622.2 33.5 Total Expenditure 1,104.0 838.8 964.5 14.5 31.6 1,942.8 1,449.0 34.1 EBITDA 112.9 109.3 114.9 (1.8) 3.2 222.2 17
Slide 28: Half Yearly Income Statement (Consolidated)
HALF YEARLY (CONSOLIDATED) INCOME STATEMENT Particulars (INR Mn) H2FY25 H1FY25 HoH % FY25 Revenue from operations 1,313.4 995.9 31.9 2,309.2 Total Expenditure 1,184.1 882.6 34.2 2,066.8 EBITDA 129.2 113.2 14.1 242.5 EBITDA Margin (%) 9.8 11.4 - 10.5 Other Income 4.6 9.2 (50.2) 13.8 Depreciation 15.3
Slide 29: Income Statement (Standalone)
INCOME (STANDALONE) STATEMENT Particulars (INR Mn) FY22 FY23 FY24 FY25 Revenue from operations 654.1 1,272.2 1,622.2 2,165.0 Total Expenditure 632.4 1,158.3 1,449.0 1,942.8 EBITDA 21.7 113.9 173.2 222.2 EBITDA Margin (%) 3.3 9.0 10.7 10.3 Other Income 11.1 2.9 4.5 13.8 Depreciation 6.7 6.3 9.3 19.7
Slide 30: Balance Sheet (Standalone)
BALANCE (STANDALONE) SHEET Particulars (INR Mn) FY23 FY24 FY25 Particulars (INR Mn) FY23 FY24 FY25 EQUITY & LIABILITIES ASSETS Shareholders Funds 107.4 460.5 913.1 Non-Current Assets 100.1 149.3 234.8 Share Capital 50.0 129.0 144.7 Property, Plant & Equipment 97.0 122.0 128.3 Reserves & Surplus 57.4
Slide 31: Annexures
ANNEXURES INVESTOR PRESENTATION 31
Slide 32: Our Products Basket (1/6)
OUR PRODUCTS BASKET (1/6) Ground Spices Blend Spices Varieties of Chilli Powder, Turmeric Powder, Coriander Powder and Coriander Which comprises of varieties of masalas packed in Cumin Powder available in sizes ranging from 50g to 5kg 50g , 100g Chilli Kashmiri Double Turmeric Coriander Shahi Paneer
Slide 33: Our Products Basket (2/6)
OUR PRODUCTS BASKET (2/6) Grocery Products Whole Spices Mint Kasuri Dry Mango Dry Ginger Various types of Leaves Methi Powder Powder Whole Chilli Rajgira Khatta Mitha Soya Fenugreek Mustard Sesame Fennel Lot Achar Achar chunks seeds seeds seeds INVESTOR PRESENTATION 33
Slide 34: Our Products Basket (3/6)
OUR PRODUCTS BASKET (3/6) Products procured form Third-Party in addition to our in-house manufacturing, packed and sold under our brand name "DOUBLE HATHI“ ensuring quality and consistency. Black Salt Rock Salt Urad Papad Premium, 9 No. & Super Tea Pink Salt Strong Hing INVESTOR PRESENTATION 34
Slide 35: Our Products Basket (4/6)
OUR PRODUCTS BASKET (4/6) Ground Spices Varieties of Chilli Powder, Turmeric Powder Coriander Powder and Coriander Cumin Powder available in sizes ranging from 50g to 5kg Chilli Turmeric Coriander Coriander Cumin Chilli Turmeric Coriander Coriander Cumin Powder Powder Powder powder Powder Powder Pow
Slide 36: Our Products Basket (5/6)
OUR PRODUCTS BASKET (5/6) Grounded Spices Blended Spices Packed in Rs. 5 , Rs. 10 ( MC & Pouch) 50g , 100g, 200g, 500g Jar, 1Kg , 5Kg Packed in Rs. 5 , Rs. 10 ( MC & Pouch) 50g , 100g, 200g, 500g Jar, 1Kg Jar Fish Egg Curry Dabeli Chicken Chicken Masala Masala Masala Masala Biryani Masala Chilli Pow
Slide 37: Our Products Basket (6/6)
OUR PRODUCTS BASKET (6/6) Instant Mixes Grocery Products Packed in Rs. 200g, 400g, 500g Chat Buttermilk Black Pepper White Pepper Masala Masala Powder Powder Tea Pudina Dry Ginger Dry Mango Masala Chutney Powder Powder INVESTOR PRESENTATION 37
Slide 38: Certifications & Awards
CERTIFICATIONS & AWARDS Madhusudan Masala ▪ ISO 9001:2015 ISO 22000:2018 , HACCP ▪ FSSAI license under Food Safety and Standards Act 2006 ▪ Members of: - Spice Board of India - APEDA (Agricultural and Processed Food Products Export Development Authority) Awards: ▪ Received the ZED Gold Certificate,
Slide 39: CSR Activities
CSR ACTIVITIES INVESTOR PRESENTATION 39
Slide 40: Thank You
THANK YOU Madhusudan Masala limited KAPTIFY® Consulting Gujarat, India Strategy & Investor Relations | Consulting contact@madhusudanmasala.com contact@kaptify.in +91-288 2572002 | +91-94262 24445 +91-845 288 6099