Price
Financials
Standalone, Rs crore| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 29.76 | 65.06 | 58.34 | 63.59 | 64.48 | 41.58 | 68.42 | 87.06 | 89.54 |
| Expenses | 25.84 | 58.05 | 54.20 | 56.79 | 57.83 | 35.79 | 61.24 | 77.84 | 79.75 |
| Operating Profit | 3.92 | 7.01 | 4.14 | 6.80 | 6.65 | 5.79 | 7.18 | 9.22 | 9.79 |
| OPM % | 13.17% | 10.77% | 7.10% | 10.69% | 10.31% | 13.92% | 10.49% | 10.59% | 10.93% |
| Other Income | 0.03 | 0.01 | 0.53 | 0.58 | 0.19 | 0.51 | 0.19 | 0.39 | 0.31 |
| Interest | 1.26 | 1.69 | 1.29 | 1.47 | 1.40 | 1.64 | 1.31 | 1.89 | 1.75 |
| Depreciation | 0.49 | 0.21 | 0.64 | 0.49 | 0.50 | 0.53 | 0.57 | 0.59 | 0.55 |
| Profit before tax | 2.20 | 5.12 | 2.74 | 5.42 | 4.94 | 4.13 | 5.49 | 7.13 | 7.80 |
| Tax % | 21.82% | 23.24% | 23.36% | 23.62% | 24.70% | 24.94% | 24.95% | 26.65% | 25.51% |
| Net Profit | 1.73 | 3.93 | 2.09 | 4.13 | 3.72 | 3.10 | 4.12 | 5.23 | 5.81 |
| EPS in Rs | 1.34 | 2.73 | 1.45 | 2.85 | 2.57 | 2.14 | 2.85 | 3.43 | 3.60 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| Sales | 69 | 65 | 127 | 162 | 216 | 261 | 287 |
| Expenses | 66 | 63 | 116 | 145 | 194 | 233 | 255 |
| Operating Profit | 3 | 2 | 11 | 17 | 22 | 29 | 32 |
| OPM % | 4.2% | 3.3% | 9% | 11% | 10% | 11% | 11% |
| Other Income | 0 | 1 | 0 | 0 | 1 | 1 | 1 |
| Interest | 2 | 2 | 3 | 4 | 6 | 6 | 7 |
| Depreciation | 1 | 1 | 1 | 1 | 2 | 2 | 2 |
| Profit before tax | 1 | 1 | 8 | 12 | 15 | 22 | 25 |
| Tax % | 27% | 16% | 26% | 26% | 24% | 26% | |
| Net Profit | 0 | 1 | 6 | 9 | 12 | 16 | 18 |
| EPS in Rs | 810.00 | 11.50 | 7.13 | 8.06 | 10.60 | 12.02 | |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 31% | 27% | 14% | ||
| Compounded Profit Growth | % | 105% | 41% | 32% | ||
| Stock Price CAGR | % | % | 27% | 68% | ||
| Return on Equity | % | 20% | 18% | 15% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.00 | 0.01 | 5 | 13 | 14 | 15 |
| Reserves | 11 | 0 | 6 | 33 | 77 | 103 |
| Borrowings | 10 | 28 | 43 | 52 | 65 | 69 |
| Other Liabilities | 5 | 7 | 4 | 7 | 7 | 12 |
| Total Liabilities | 26 | 35 | 57 | 105 | 164 | 199 |
| Fixed Assets | 5 | 4 | 4 | 10 | 13 | 14 |
| CWIP | 0 | 0 | 6 | 2 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 8 | 10 |
| Other Assets | 21 | 31 | 48 | 93 | 143 | 176 |
| Total Assets | 26 | 35 | 57 | 105 | 164 | 199 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity | 2 | -5 | -9 | -29 | -30 | -3 |
| Cash from Investing Activity | -1 | 0 | -6 | -3 | -11 | -5 |
| Cash from Financing Activity | -1 | 5 | 16 | 31 | 41 | 8 |
| Net Cash Flow | 0 | -0 | 0 | 0 | -0 | 0 |
| Free Cash Flow | 1 | -5 | -15 | -32 | -33 | -6 |
| CFO/OP | 68% | -221% | -64% | -146% | -118% | 7% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 67 | 70 | 47 | 81 | 61 | 71 |
| Inventory Days | 44 | 97 | 75 | 112 | 174 | 171 |
| Days Payable | 27 | 36 | 4 | 9 | 5 | 9 |
| Cash Conversion Cycle | 83 | 131 | 118 | 184 | 230 | 234 |
| Working Capital Days | 62 | 66 | 22 | 88 | 126 | 135 |
| ROCE % | 11% | 27% | 22% | 17% | 16% |
| Sep 2023 | Oct 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| Promoters | 73.64% | 73.64% | 73.69% | 66.93% | 68.09% | 68.09% | 69.53% | 70.47% |
| FIIs | 3.74% | 4.82% | 1.01% | 1.11% | 0.04% | 0.44% | 0.72% | 0.68% |
| DIIs | 5.02% | 6.42% | 0.90% | 4.91% | 4.89% | 4.99% | 4.91% | 4.47% |
| Public | 17.60% | 15.05% | 24.40% | 27.05% | 26.99% | 26.48% | 24.83% | 24.38% |
| Others | 0.00% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| No. of Shareholders | 776 | 847 | 877 | 1,428 | 1,532 | 1,519 | 1,395 | 1,347 |
Fundamentals
Market Cap₹ 387 Cr.
Current Price₹ 240
Stock P/E21.2
Book Value₹ 77.4
ROCE16.2 %
ROE15.4 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)14%
Compounded Profit Growth (TTM)32%
Standalone figures.
Valuation
Market capRs 379 Cr
Enterprise valueRs 407 Cr
P/E (TTM)23.41x
Price to book1221.32x
Price to sales1.45x
EV / EBITDA13.50x
EV / EBIT14.56x
EV / sales1.55x
Earnings yield4.27%
Profitability
Operating margin (excl. other income)3.32%
Operating margin (incl. other income)5.01%
EBITDA margin11.52%
Pre-tax margin8.29%
Net profit margin6.18%
Net margin, latest quarter6.01%
ROE14.40%
ROCE10.63%
ROA2.65%
ROIC (approx.)82.53%
Tax rate16.49%
Other income / net worth358.06%
Growth
Sales growth (latest year)-4.73%
Profit growth (latest year)80.00%
Sales growth QoQ27.24%
Profit growth QoQ26.94%
Sales growth YoY (latest quarter)36.91%
Profit growth YoY (latest quarter)26.63%
Per share
EPS (TTM)Rs 10.02
EPS (latest year)Rs 810.00
EPS (latest quarter)Rs 3.24
Book value per shareRs 0.19
Sales per shareRs 162.09
Cash flow per shareRs -3.14
Free cash flow per shareRs -3.72
Efficiency
Asset turnover1.86x
Fixed asset turnover15.57x
Inventory turnover3.87x
Inventory days94 days
Debtor days70 days
Debtors turnover5.18x
Creditor days9 days
Cash conversion cycle234 days
Working capital days135 days
Leverage
Total debtRs 28 Cr
Cash and bankRs 0 Cr
Net debtRs 28 Cr
Debt to equity90.94x
Net debt / EBITDA0.93x
Interest coverage4.48x
Owners' fund to total sources0.88%
Debt to assets80.22%
Cash flow
Cash from Operating Activity (latest year)Rs -5 Cr
Cash from Investing Activity (latest year)Rs 0 Cr
Cash from Financing Activity (latest year)Rs 5 Cr
Net Cash Flow (latest year)Rs -0 Cr
Free cash flow (latest year)Rs -6 Cr
FCFE (approx.: FCF + change in debt)Rs 13 Cr
Cash from ops / profit, 5 years-1.73x
Statement figures
Net sales (TTM)Rs 262 Cr
Net sales (latest year)Rs 65 Cr
Sales (latest quarter)Rs 87 Cr
Operating profit excl. other income (latest year)Rs 2 Cr
Operating profit (latest quarter)Rs 9 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 30 Cr
PBDT (TTM)Rs 24 Cr
Profit before tax (TTM)Rs 22 Cr
Tax (latest year)Rs 0 Cr
Net profit (TTM)Rs 16 Cr
Net profit (latest year)Rs 1 Cr
Net profit (latest quarter)Rs 5 Cr
Depreciation (TTM)Rs 2 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 6 Cr
Cost of goods sold (latest year)Rs 61 Cr
Total expenditure (latest year)Rs 63 Cr
Total income (latest year)Rs 67 Cr
Share capitalRs 0 Cr
ReservesRs 0 Cr
Shareholders' fundsRs 0 Cr
Total assetsRs 35 Cr
Net blockRs 4 Cr
ReceivablesRs 13 Cr
InventoryRs 16 Cr
Other liabilitiesRs 7 Cr
Shares outstanding (crore)1.61
Ownership
Promoter holding70.47% (+3.54 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | MADHUSUDAN | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +4.6% | -2.8% | +7.4 pts |
| 1 month | +4.3% | -6.8% | +11.1 pts |
| 3 months | -1.4% | -7.6% | +6.2 pts |
| 6 months | +73.8% | +0.4% | +73.4 pts |
| 1 year | +65.7% | -9.9% | +75.6 pts |
| 2 years | +30.4% | -13.6% | +43.9 pts |
| 3 years | +102.3% | +14.2% | +88.1 pts |
Red flags
F-score 2 of 7| explain | Weak cash conversion Cash from operations was -263% of net profit over the last 2 years |
| explain | High accruals Profit exceeded operating cash by 17% of total assets in 2026 |
| look | Inventory outrunning sales Inventory grew 112% vs sales -5% in 2026 |
| look | Profit leans on other income Other income was 114% of pre-tax profit in 2026 |
| look | On NSE surveillance On NSE surveillance: ESM |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹90 Cr +38.9% vs Jun 2025.
Net profit ₹6 Cr +56.2%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| EID Parry (India) Ltd | 12,390 | 15.3 | 17.0 % |
| Manorama Industries Ltd | 11,763 | 44.5 | 35.4 % |
| Orkla India Ltd | 7,398 | 24.2 | 14.9 % |
| Krishival Foods Ltd | 1,152 | 52.3 | 16.2 % |
| Shri Ahimsa Naturals Ltd | 1,042 | 34.8 | 22.8 % |
| Freshara Agro Exports Ltd | 975 | 26.3 | % |
| Apis India Ltd | 690 | 27.4 | 14.6 % |
| Proventus Agrocom Ltd | 673 | 48.5 | 11.5 % |
| Pajson Agro India Ltd | 512 | 20.6 | 31.4 % |
| Hoac Foods India Ltd | 388 | 68.3 | 32.1 % |
| Nutricircle Ltd | 300 | 999 | 4.23 % |
| Chemkart India Ltd | 300 | 15.3 | 27.7 % |
| Megastar Foods Ltd | 290 | 29.5 | 11.6 % |
| Srivari Spices & Foods Ltd | 242 | 15.7 | 28.6 % |
| Wardwizard Foods & Beverages Ltd | 224 | 51.8 | 4.40 % |
No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
ESM: stage 1Less than 100 unique PAN traded in previous 30 daysMandatory Market making period in SME scrip is overSME scrip is not regularly traded