Madhusudan Inds.

  • Market Cap: Micro Cap
  • Industry: Edible Oil
  • ISIN: INE469C01023
  • NSEID:
  • BSEID: 515059
INR
34.76
2.19 (6.72%)
BSENSE

May 06

BSE+NSE Vol: 997

  • Price Points
  • Score
  • Mojo Parameters
  • Total Return
  • News and Corporate Actions
  • Key factors
  • Shareholding
  • Financials
  • CompanyCV
stock-summaryPrice Point
High/Low

1Day

52 Week

Valuation
Technical
Day's Volume

CASH

997 (-19.07%) Volume

Shareholding (Mar 2026)

FII

0.00%

Held by 0 FIIs

DII

0.05%

Held by 1 DIIs

Promoter

56.08%

Who are the top shareholders of the Madhusudan Inds.?

06-Jun-2025

The top shareholders of Madhusudan Industries include Vikram Investments Company Private Limited with 17.43%, individual investors with 41.02%, and the highest public shareholder, Sajan Kumar Pasari, at 2.39%. There are also three mutual fund schemes holding 0.01%, with no foreign institutional investors involved.

The top shareholders of Madhusudan Industries include the promoters, who hold the majority of the shares. The promoter with the highest holding is Vikram Investments Company Private Limited, which owns 17.43% of the company. Additionally, individual investors collectively hold 41.02% of the shares. The highest public shareholder is Sajan Kumar Pasari, with a holding of 2.39%. There are also three mutual fund schemes that hold a very small portion, at 0.01%, and there are currently no foreign institutional investors (FIIs) involved.

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Who are in the management team of Madhusudan Inds.?

06-Jun-2025

As of March 2022, the management team of Madhusudan Industries includes Rajesh B Shah (Chairman), P K Shashidharan, Prem Chand Surana, Rutva Acharya, Shri Yogendra Jhaveri, Daarrpan R. Shah, and Dipti Zaveri, all contributing to the company's governance and oversight.

As of March 2022, the management team of Madhusudan Industries includes the following members:<BR><BR>1. Rajesh B Shah - Chairman & Independent Director<BR>2. P K Shashidharan - Non-Executive & Non-Independent Director<BR>3. Prem Chand Surana - Non-Executive & Non-Independent Director<BR>4. Rutva Acharya - Independent Non-Executive Director<BR>5. Shri Yogendra Jhaveri - Independent Non-Executive Director<BR>6. Daarrpan R. Shah - Independent Non-Executive Director<BR>7. Dipti Zaveri - Independent Non-Executive Director<BR><BR>Each member plays a significant role in the governance and oversight of the company.

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What does Madhusudan Inds. do?

06-Jun-2025

Madhusudan Industries Ltd, a micro-cap company established in 1946, operates in the edible oil industry. As of March 2025, it reported net sales of 0 Cr and a net loss of 3 Cr, with a market cap of Rs 22 Cr.

Overview:<BR>Madhusudan Industries Ltd operates in the edible oil industry and is categorized as a micro-cap company.<BR><BR>History:<BR>Incorporated in February 1946, Madhusudan Industries was formerly known as Madhusudan Vegetable Products Company. The latest quarterly results reported net sales and profit for March 2025.<BR><BR>Financial Snapshot:<BR>Net Sales: 0 Cr (Quarterly Results - Mar 2025) <BR>Net Profit: -3 Cr (Quarterly Results - Mar 2025) <BR>Market-cap: Rs 22 Cr (Micro Cap)<BR><BR>Key Metrics:<BR>P/E: N/A <BR>Industry P/E: 32 <BR>Dividend Yield: 0.00% <BR>Debt Equity: -0.58 <BR>Return on Equity: -4.77% <BR>Price to Book: 0.81<BR><BR>Contact Details:<BR>Address: Sy No 359/B 359/C 361 and 362, Rakhial Taluka Dehgam Gandhinagar Gujarat : 382315 <BR>Tel: 91-02716-267270 <BR>Email: madhusudan_i@yahoo.in <BR>Website: http://www.madhusudan-india.com

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Has Madhusudan Inds. declared dividend?

06-Jun-2025

No Dividend History Available

Who are the peers of the Madhusudan Inds.?

03-Jun-2025

Madhusudan Inds. peers include Marico, Patanjali Foods, Gokul Agro, and others. Gokul Agro leads in 1-year returns at 71.95%, while Madhusudan Inds. has the lowest at -36.92%.

Peers: The peers of Madhusudan Inds. are Marico, Patanjali Foods, AWL Agri Busine., Gokul Agro, Sundrop Brands, Prima Industries, Integ. Proteins, Natraj Proteins, Ashiana Agro Ind, and Signature Green.<BR><BR>Quality Snapshot: Excellent management risk is observed at Marico, while Average management risk is found at Patanjali Foods, Gokul Agro, and Natraj Proteins, and the rest. Below Average management risk is noted for AWL Agri Busine., Prima Industries, Integ. Proteins, and Ashiana Agro Ind, and the rest. Growth is Excellent at Patanjali Foods and Gokul Agro, while Below Average growth is seen at Madhusudan Inds., Marico, AWL Agri Busine., Prima Industries, Integ. Proteins, Natraj Proteins, and the rest. Good growth is noted at Sundrop Brands, while Ashiana Agro Ind does not qualify. Capital Structure is Excellent at Marico and Sundrop Brands, Good at Patanjali Foods and Prima Industries, and Below Average at Madhusudan Inds., Integ. Proteins, Natraj Proteins, and the rest.<BR><BR>Return Snapshot: Gokul Agro has the highest 1-year return at 71.95%, while Madhusudan Inds. has the lowest at -36.92%. Madhusudan Inds.'s return is significantly lower than all peers. Additionally, AWL Agri Busine., Gokul Agro, Integ. Proteins, Ashiana Agro Ind, and Signature Green have negative six-month returns.

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Is Madhusudan Inds. overvalued or undervalued?

09-Jun-2025

As of May 27, 2025, Madhusudan Industries is considered risky and undervalued with negative financial ratios, contrasting sharply with its peers, despite a significant long-term return of 375.28% over five years.

As of 27 May 2025, the valuation grade for Madhusudan Industries has moved from very expensive to risky, indicating a significant shift in its perceived value. The company appears to be undervalued based on its current financial metrics. Key ratios include a PE Ratio of -16.65, an EV to EBITDA of -3.35, and a Price to Book Value of 0.79, which suggest that the company is trading at a discount relative to its book value and is experiencing negative earnings.<BR><BR>In comparison to its peers, Madhusudan Industries shows a stark contrast with companies like Altius Telecom, which has a PE Ratio of 52.97 and is rated very attractive, and Sagility India, rated fair with a PE of 33.73. The negative ratios for Madhusudan, such as a ROCE of -15.94% and a ROE of -4.77%, further highlight its struggles relative to the industry. Despite recent stock performance showing a decline of 32.84% over the past year compared to a 7.57% gain in the Sensex, the long-term perspective shows a substantial return over five years at 375.28%, suggesting potential recovery and growth opportunities.

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What is the technical trend for Madhusudan Inds.?

09-Jun-2025

As of May 5, 2025, Madhusudan Inds. shows a mildly bearish trend overall, with bearish moving averages and Bollinger Bands, despite some mildly bullish signals from the weekly MACD and KST.

As of 5 May 2025, the technical trend for Madhusudan Inds. has changed from bearish to mildly bearish. The weekly MACD indicates a mildly bullish stance, while the monthly MACD remains bearish. The RSI shows no signal on the weekly chart but is bullish on the monthly. Bollinger Bands are bearish on both weekly and monthly time frames. Daily moving averages are bearish, and the KST is mildly bullish weekly but mildly bearish monthly. Dow Theory indicates no trend in both weekly and monthly perspectives. Overall, the current technical stance is mildly bearish, driven primarily by the bearish moving averages and Bollinger Bands, despite some mildly bullish signals from the MACD and KST on the weekly chart.

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How big is Madhusudan Inds.?

24-Jul-2025

As of 24th July, Madhusudan Industries Ltd has a market capitalization of 24.00 Cr, classified as a Micro Cap, with net sales of 0.06 Cr and a net profit of 0.74 Cr in the latest four quarters. Data on Shareholder's Funds and Total Assets is unavailable.

As of 24th July, Madhusudan Industries Ltd has a market capitalization of 24.00 Cr, classified as a Micro Cap.<BR><BR>In the latest four quarters, the company reported net sales of 0.06 Cr and a net profit of 0.74 Cr.<BR><BR>The reporting period for the balance sheet is the latest annual period. However, data regarding Shareholder's Funds and Total Assets is unavailable.

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When is the next results date for Madhusudan Inds.?

31-Oct-2025

Madhusudan Inds. will announce its results on 07 November 2025.

Madhusudan Inds. will declare its results on 07 November 2025.

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How has been the historical performance of Madhusudan Inds.?

09-Nov-2025

Madhusudan Inds. experienced a significant decline in net sales from 12.23 Cr in Mar'09 to 0.07 Cr in Mar'13, but improved its operating profit to 0.39 Cr and profit before tax to 0.75 Cr during the same period, despite a slight decrease in profit after tax and earnings per share. The operating profit margin improved significantly, indicating better operational efficiency, while cash flow from operating activities decreased.

Answer:<BR>The historical performance of Madhusudan Inds. shows a significant decline in net sales over the years, dropping from 12.23 Cr in Mar'09 to just 0.07 Cr in Mar'13. Other operating income remained relatively stable, contributing to total operating income that decreased from 12.32 Cr in Mar'09 to 0.96 Cr in Mar'13. The company has not incurred any raw material costs, and the purchase of finished goods has also been negligible in recent years. Total expenditure, excluding depreciation, fell from 14.07 Cr in Mar'09 to 0.57 Cr in Mar'13. Operating profit, excluding other income, showed an improvement from a loss of 1.74 Cr in Mar'09 to a profit of 0.39 Cr in Mar'13. Profit before tax also improved, moving from a loss of 1.37 Cr in Mar'09 to a profit of 0.75 Cr in Mar'13. However, profit after tax decreased slightly from 0.87 Cr in Mar'12 to 0.74 Cr in Mar'13. The earnings per share (EPS) reflected a decline from 1.62 in Mar'12 to 1.37 in Mar'13, while the operating profit margin improved to 40.81% in Mar'13 from negative margins in previous years. The cash flow from operating activities also decreased significantly, from 2.03 Cr in Mar'12 to 0.13 Cr in Mar'13, although the net cash inflow improved to 0.67 Cr in Mar'13.<BR><BR>Breakdown:<BR>Madhusudan Inds. experienced a downward trend in net sales, which fell from 12.23 Cr in Mar'09 to 0.07 Cr in Mar'13, indicating a significant contraction in business activity. Despite this, total operating income showed a similar decline, dropping from 12.32 Cr to 0.96 Cr over the same period. The company managed to reduce total expenditure from 14.07 Cr to 0.57 Cr, which helped improve operating profit, leading to a positive figure of 0.39 Cr in Mar'13 compared to a loss in earlier years. Profit before tax also turned positive, reaching 0.75 Cr in Mar'13, although profit after tax saw a slight decrease. The earnings per share reflected a decline from 1.62 to 1.37, while the operating profit margin improved significantly, indicating better operational efficiency. Cash flow from operating activities decreased, but the overall net cash inflow showed a positive trend, suggesting some recovery in cash management despite the declining sales figures.

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Are Madhusudan Industries Ltd latest results good or bad?

10-Feb-2026

Madhusudan Industries Ltd's latest results are poor, with net sales of ₹0.34 crores and a net loss of ₹0.82 crores, indicating ongoing operational challenges and stagnant revenue growth. Despite having a debt-free balance sheet, the company's inability to generate meaningful business activity raises concerns about its future viability.

Madhusudan Industries Ltd's latest results indicate significant challenges and overall poor performance. The company reported net sales of just ₹0.34 crores for the quarter ended December 2025, showing no growth compared to the previous quarter. Furthermore, the standalone net profit was negative at ₹0.82 crores, reflecting a decline of 20.59% from the prior quarter.<BR><BR>The company's operational performance continues to be concerning, with minimal revenue generation and a history of stagnant sales. The latest figures highlight ongoing difficulties in reviving its core operations, which have remained virtually dormant for an extended period. <BR><BR>Additionally, the company's return on capital employed (ROCE) has been negative, indicating inefficiencies in capital utilization. While it maintains a debt-free balance sheet with cash reserves, these strengths are overshadowed by its inability to generate meaningful business activity.<BR><BR>Overall, the results can be classified as bad, as they reflect persistent operational challenges and a lack of revenue growth, which raises serious concerns about the company's future viability.

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Should I buy, sell or hold Madhusudan Industries Ltd?

10-Feb-2026

Why is Madhusudan Industries Ltd falling/rising?

05-May-2026

As of 05-May, Madhusudan Industries Ltd's stock price is Rs 32.57, down 1.51%, with a year-to-date decline of 4.29%. Despite recent short-term gains, the stock shows a longer-term bearish trend, having fallen 23.17% over the past year.

As of 05-May, Madhusudan Industries Ltd's stock price is currently at Rs 32.57, reflecting a decrease of Rs 0.5, or 1.51%. The stock has experienced a decline of 5.59% over the past week, contrasting with a slight increase of 0.17% in the Sensex during the same period. Despite a positive performance over the last month, where the stock rose by 9.11% compared to the Sensex's 5.04%, the year-to-date performance shows a decline of 4.29%, while the Sensex has decreased by 9.63%.<BR><BR>Today, the stock opened lower, with a gap down of 2.93%, and reached an intraday low of Rs 32.01, which is a drop of 3.21%. However, it also touched a day's high of Rs 35.09, indicating some volatility within the trading session. The stock has been gaining over the last two days, with a total return of 6.95% during that period, and it outperformed its sector by 6.11% today.<BR><BR>Despite these short-term gains, the overall trend indicates a decline, particularly when looking at the longer-term performance metrics. The stock has fallen 23.17% over the past year, while the Sensex has only decreased by 4.68%. Additionally, while the stock is trading above its 5-day, 20-day, 50-day, and 100-day moving averages, it remains below the 200-day moving average, suggesting a longer-term bearish trend. <BR><BR>Investor participation has increased, with a notable rise in delivery volume, which could indicate growing interest, but the current price movement reflects a downward trend overall.

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iScoreScore
Click here to find our call on this stock
Strong Sell
Sell
Hold
Buy
Strong Buy

Dashboard

1

Weak Long Term Fundamental Strength with a -7.99% CAGR growth in Operating Profits over the last 5 years

  • Company's ability to service its debt is weak with a poor EBIT to Interest (avg) ratio of -0.37
  • The company has been able to generate a Return on Capital Employed (avg) of 2.51% signifying low profitability per unit of total capital (equity and debt)
2

Flat results in Dec 25

3

Risky - Negative EBITDA

4

Underperformed the market in the last 1 year

stock-summaryMojo Parameters

Mojo Parameters

Loading Valuation Snapshot...

Stock DNA

stock-summary
Industry

Edible Oil

stock-summary
Market cap

INR 17 Cr (Micro Cap)

stock-summary
P/E

NA (Loss Making)

stock-summary
Industry P/E

35

stock-summary
Dividend Yield

0.00%

stock-summary
Debt Equity

-0.61

stock-summary
Return on Equity

-6.12%

stock-summary
Price to Book

0.64

Revenue and Profits:
Net Sales:
0 Cr
(Quarterly Results - Dec 2025)
Net Profit:
-1 Cr
stock-summaryTotal Returns
Total Returns (Price + Dividend) stock-summary
Dividend Yield (0%)
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
6.99%
0%
6.99%
6 Months
-5.62%
0%
-5.62%
1 Year
-10.87%
0%
-10.87%
2 Years
-52.25%
0%
-52.25%
3 Years
65.6%
0%
65.6%
4 Years
21.54%
0%
21.54%
5 Years
178.75%
0%
178.75%

Madhusudan Inds. for the last several years.

Risk Adjusted Returns v/s stock-summary
Returns Beta
Icon
Beta has not been calculated since enough price history is not available
stock-summaryNews & Corporate Actions

News

Madhusudan Industries Declines 1.54%: Operational Challenges and Flat Q3 Performance

Announcements stock-summary

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018

08-Apr-2026 | Source : BSE

Certificate under Regulation 74(5) of SEBI (DP) Regulations 2018

Closure of Trading Window

28-Mar-2026 | Source : BSE

Closure of Trading Window

Announcement under Regulation 30 (LODR)-Newspaper Publication

09-Mar-2026 | Source : BSE

Notice for Opening of Special Window for Re-lodgement of Transfer of Shares published in newspapers dated 9th March 2026

Corporate Actions stock-summary

stock-summary
BOARD MEETING

No Upcoming Board Meetings

stock-summary
DIVIDEND

No Dividend history available

stock-summary
SPLITS

No Splits history available

stock-summary
BONUS

No Bonus history available

stock-summary
RIGHTS

No Rights history available

stock-summaryKey Factors

Quality key factors stock-summary

Factor
Value
Sales Growth (5y)
6.96%
EBIT Growth (5y)
-7.99%
EBIT to Interest (avg)
-0.37
Debt to EBITDA (avg)
Negative Net Debt
Net Debt to Equity (avg)
-0.61
Sales to Capital Employed (avg)
0.04
Tax Ratio
25.02%
Dividend Payout Ratio
0
Pledged Shares
0
Institutional Holding
0.19%
ROCE (avg)
-5.14%
ROE (avg)
14.82%

Valuation key factors

Factor
Value
P/E Ratio
NA (Loss Making)
Industry P/E
35
Price to Book Value
0.65
EV to EBIT
-0.63
EV to EBITDA
-0.66
EV to Capital Employed
0.10
EV to Sales
0.90
PEG Ratio
NA
Dividend Yield
NA
ROCE (Latest)
-15.89%
ROE (Latest)
-6.12%

Technicals key factors

Indicator
Weekly
Monthly
MACD
Mildly Bullish
Bearish
RSI
No Signal
No Signal
Bollinger Bands
Bullish
Mildly Bearish
Moving Averages
Mildly Bearish (Daily)
KST
Mildly Bullish
Bearish
Dow Theory
No Trend
No Trend
stock-summary Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish  Turned 
stock-summaryShareholding
Shareholding Snapshot : Mar 2026stock-summary
Shareholding Compare (%holding) stock-summary
Majority shareholders

Promoters

Pledged Promoter Holdings

None

Mutual Funds

Held by 2 Schemes (0.0%)

FIIs

Held by 0 FIIs

Promoter with highest holding

Vikram Investments Company Private Limited (17.43%)

Highest Public shareholder

Sajan Kumar Pasari (2.39%)

Individual Investors Holdings

41.06%

stock-summaryFinancial
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Quarterly Results Snapshot (Standalone) - Dec'25 - QoQstock-summary

Dec'25
Sep'25
Change(%)
Net Sales
0.34
0.34
Operating Profit (PBDIT) excl Other Income
0.01
0.13
-92.31%
Interest
0.00
0.00
Exceptional Items
0.00
0.00
Standalone Net Profit
-0.82
-0.68
-20.59%
Operating Profit Margin (Excl OI)
2.94%
38.24%
-35.30%
Values in Rs Cr.
Direction Arrows
Net Sales

QoQ Growth in quarter ended Dec 2025 is 0.00% vs 6.25% in Sep 2025

Direction Arrows
Standalone Net Profit

QoQ Growth in quarter ended Dec 2025 is -20.59% vs -129.96% in Sep 2025

Half Yearly Results Snapshot (Standalone) - Sep'25stock-summary

Sep'25
Sep'24
Change(%)
Net Sales
0.66
0.63
4.76%
Operating Profit (PBDIT) excl Other Income
0.22
0.20
10.00%
Interest
0.00
0.00
Exceptional Items
0.00
0.00
Standalone Net Profit
1.58
2.89
-45.33%
Operating Profit Margin (Excl OI)
33.33%
31.75%
1.58%
Values in Rs Cr.
Direction Arrows
Net Sales

Growth in half year ended Sep 2025 is 4.76% vs 5.00% in Sep 2024

Direction Arrows
Standalone Net Profit

Growth in half year ended Sep 2025 is -45.33% vs -25.90% in Sep 2024

Nine Monthly Results Snapshot (Standalone) - Dec'25stock-summary

Dec'25
Dec'24
Change(%)
Net Sales
1.00
0.95
5.26%
Operating Profit (PBDIT) excl Other Income
0.23
0.27
-14.81%
Interest
0.00
0.00
Exceptional Items
0.00
0.00
Standalone Net Profit
0.76
2.19
-65.30%
Operating Profit Margin (Excl OI)
23.00%
28.42%
-5.42%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in nine months ended Dec 2025 is 5.26% vs 4.40% in Dec 2024

Direction Arrows
Standalone Net Profit

YoY Growth in nine months ended Dec 2025 is -65.30% vs -36.52% in Dec 2024

Annual Results Snapshot (Standalone) - Mar'25stock-summary

Mar'25
Mar'24
Change(%)
Net Sales
1.27
1.22
4.10%
Operating Profit (PBDIT) excl Other Income
-1.76
0.13
-1,453.85%
Interest
0.00
0.00
Exceptional Items
0.00
0.00
Standalone Net Profit
-0.39
2.32
-116.81%
Operating Profit Margin (Excl OI)
-138.58%
10.66%
-149.24%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in year ended Mar 2025 is 4.10% vs 5.17% in Mar 2024

Direction Arrows
Standalone Net Profit

YoY Growth in year ended Mar 2025 is -116.81% vs -3.73% in Mar 2024

stock-summaryCompany CV
About Madhusudan Industries Ltd stock-summary
stock-summary
Madhusudan Industries Ltd
Micro Cap
Edible Oil
Incorporated in Feb.'46, Madhusudan Industries (formerly Madhusudan Vegetable Products Company), now better known for its CERA range of sanitaryware and tiles, has emerged as a major force in the Indian ceramic industry. The Company had three units, namely Edible Oil Unit having plants at Rakhial, Gujarat, Solvent Extraction Plant at Nimbahera, Rajasthan and Power Unit consisted 10 Nos. Wind Turbine Generators of 2.
Company Coordinates stock-summary
Company Details
Sy No 359/B 359/C 361 and 362, Rakhial Taluka Dehgam Gandhinagar Gujarat : 382315
stock-summary
Tel: 91-02716-267270
stock-summary
madhusudan_i@yahoo.in
Registrar Details
MCS Ltd , 201 Shatdal Complex, 2nd Floor, Ashram Road, Ahmedabad