Madhusudan Masala Q1 FY27: Branded Mix Lifts Margins as Capacity Expansion Nears

Revenue from operations was INR 982.8 Mn (INR 98.28 crore), EBITDA INR 110.7 Mn (INR 11.07 crore) and reported net profit INR 65.0 Mn (INR 6.50 crore).

Management reported branded sales share at 72% and non-branded at 28% in Q1 FY27 on a consolidated basis.

Within branded revenue in Q1 FY27, management reported 50% ground spices, 27% whole spices, 17% grocery products, 5% blended spices and 1% tea.

The company stated Phase 1 will add 6,000 MT annual capacity, with production expected to commence from September 2026. Civil and PEB work is stated as 100% complete, with machine installation and electrification in progress.

Management stated the total project cost is around INR 16 crore, funded 65% through long-term bank funding and 35% from internal sources.

Management reiterated a FY27 revenue target of INR 400 crore and stated it expects to achieve more than INR 400 crore. It also indicated an EBITDA margin target of 11.5% is manageable.