Madhusudan Masala SME IPO Details 2026

Madhusudan Masala Limited is engaged in manufacturing and processing more than 32 types of Spices under the brand names "DOUBLE HATHI" and "MAHARAJA".

The company also offers 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". The company also deals in whole spices in retail and bulk quantities as well as papad, soya products, Asafoetida (Hing), black salt, rock salt, etc. procured through third-party manufacturers and packaged under its brand name of "DOUBLE HATHI".

Madhusudan Masala has two product segments:

1. Ground spices: It includes varieties of Chilli Powder, Turmeric Powder, Coriander Powder, and Coriander Cumin Powder.
2. Blend Spices: It includes 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.

MM's manufacturing facility is located at Industrial Area Hapa, Near Jamnagar, accredited with ISO 9001:2015 for quality management system, ISO 22000:2018 for Food Safety Management System, HACCP for Hazard Analysis Critical Control Points, and with FSSAI license under the Food Safety and Standards Act 2006.

The company recorded Rs. 12,721.60 Lacs, Rs. 6,540.81 Lacs, and Rs. 6,868.03 Lacs in revenue from operations in fiscal 2023, 2022, and 2021 respectively.