Madhusudan Masala
- Company typePublic
- Founded1975
- HeadquartersJamnagar, India
- Headcount101–250
- GTM typeB2C
- OfferingHardware or Manufacturing
What Madhusudan Masala does
Madhusudan Masala is an Indian spice manufacturer and processor founded in 1975 and headquartered in Jaipur, Rajasthan, with operations across ground spices, blended masalas, tea, and fortified instant mixes. The company produces more than 32 types of spices under multiple brands: the legacy Madhusudan Masala label, the Double Hathi sub-brand (chilli powders, coriander, turmeric), the Maharaja CTC premium ground-spice line launched in October 2024, and the 77 GREEN sub-brand launched in May 2024 covering both 12 vitamin- and mineral-fortified instant mixes (Dosa, Idli, Khaman, Dhokla, Kheer, etc.) and 14 regional blended masalas (Hyderabadi Biryani, Meat, Chicken, Fish, Kitchen King, Pav Bhaji, etc.). Core production technology is a cool-process grinding technique using hammer-type pulverizers applied to naturally sun-dried seeds, designed to preserve aroma, color, flavor, and natural oils; the company also operates an agri-processing and cold-storage subsidiary (Madhusudan Agri Processing And Cold Storage Pvt Ltd., acquired July 2024). The company underwent an IPO in 2025 (NSE ticker MADHUSUDAN) and now maintains full SEBI (LODR) compliance with quarterly financial disclosures.
The business operates a multi-channel go-to-market: a company-owned DTC e-commerce storefront at shop.madhusudanmasala.com (WooCommerce-powered with Razorpay and UPI QR Code payment integrations, supporting COD, card, net-banking and BHIM/Paytm/Google Pay/PhonePe UPI), wholesale and distributor supply globally across 'all segments of market', and phone/email-based inside-sales support. Pricing is per-unit in Indian Rupees, publicly disclosed per SKU on product pages, with pack-size variants from 100g to 5kg across both household and HoReCa/commissary use cases. Reported FY2026 consolidated sales of Rs 291.71 crore (up 26.33% YoY) and net profit of Rs 18.50 crore (up 23.17% YoY), with a March 2026 quarter operating margin of 11.01%, indicate an established FMCG business in active growth mode. Customer concentration risk appears low given the absence of named anchor accounts, the consumer-staples SKU profile, and a long-tail base spanning households, HoReCa, and wholesale distributors.
Madhusudan Masala firmographics
Firmographics- Name
- Madhusudan Masala
- Legal name
- Madhusudan Masala Private Limited
- Website
- https://madhusudanmasala.com
- Company type
- Public
- Founded year
- 1975
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Ownership category
- akta.pro rank
Madhusudan Masala industry classification
Industry- Product category
- Spice Manufacturing
- NAICS
- Spice and Extract Manufacturing (311942), Mayonnaise, Dressing, and Other Prepared Sauce Manufacturing (311941)
- SIC
- Food And Kindred Products (2000), Miscellaneous Food Preparations & Kindred Products (2090)
- akta.pro primary industry
- Spices, Herbs & Seasonings Trading/Wholesale (AFAIAKAE)
- akta.pro secondary industry
- Ground & Powdered Spices (AFAJANAB)
Keywords
Where Madhusudan Masala is headquartered
LocationHeadquarters
- HQ city
- Jamnagar
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Madhusudan Masala business model
Business model- GTM type
- B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Direct-to-Consumer E-commerce Sales: Sales of branded spice products (Madhusudan Masala, Double Hathi, 77 GREEN, Maharaja CTC) directly to consumers via the company's own online storefront at shop.madhusudanmasala.com, with multiple SKUs and pack sizes (100g to 5kg).
- Wholesale / Multi-Segment Distribution: Supplies premium spices across the globe to all segments of market, implying wholesale and distributor-led revenue beyond direct online sales.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Per-unit pricing across a wide SKU range, publicly listed on product pages |
| Unit Pricing | Pay-as-you-go | Bundle/variant pricing with optional size selection (100g/500g/1kg/2kg/5kg) |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels4 records
Madhusudan Masala product offering
Product offeringCore offering
Madhusudan Masala manufactures and sells ready-to-use ground spices, traditional blended masalas, tea, and vitamin-fortified instant mixes under the Madhusudan Masala, Double Hathi, Maharaja CTC, and 77 GREEN sub-brands. Spices are processed using a proprietary cool-process grinding technique with hammer type pulverizers after natural sun-drying of seeds to retain aroma, color, and natural oils. The company sells directly to consumers through its own branded e-commerce storefront and distributes wholesale to all market segments globally.
Differentiator
Problem solved
Functional benefit
Brands
- Double Hathi: Brand used across a range of chilli powders and ground spice products including Kashmiri Chilli Powder, Gholar Chilli Powder, Reshampatto Chilli Powder, Mumbai Chilli Powder, Coriander Powder and Turmeric Powder; described on packaging as "A House of Natural & Pure Veg Quality Product of Double Hathi Madhusudan Masala Limited".
- 77 GREEN
Products and services
- Ground Spices (Madhusudan Masala) The company's foundational offering of single-origin ready-to-use ground spices including Chilli Powder, Turmeric Powder, Coriander Cumin Powder, and Coriander Powder, covering both legacy Madhusudan Masala and Double Hathi branded variants, for everyday Indian cooking.
- Blend Spices (Madhusudan Masala) Traditional Indian hand-crafted blended spice mixes sourced from renowned spice lands across India, formulated to retain uncompromised taste, aroma, flavor, and color for everyday Indian cooking.
- Tea Beverage category listed under the Madhusudan Masala online shop alongside ground and blended spices, expanding the company's consumer pantry offering.
- Other Products Miscellaneous grocery product category listed on the Madhusudan Masala shop to host additional food and spice-adjacent items beyond the core ground, blend, tea, and instant mix offerings.
- 77 GREEN Instant Mix Sub-brand of ready-to-cook Indian snack flours enriched with Iron, Zinc, and vitamins (A, B1, B2, C, Folic Acid), spanning Dosa, Idli, Khaman, Kheer, Gota, Dhokla, Dahivada, Daalwada, Menduvada, Gulab Jamun, Panipuri 5 Flavors, and Pani+Puri Combo mixes, for health-conscious and convenience-seeking consumers.
- 77 GREEN Blend Spices Sub-brand of blended Indian masalas covering everyday and regional recipes, including Hyderabadi Biryani, Meat, Chicken, Fish, Kitchen King, Pav Bhaji, Shahi Paneer, Chhole, Chatpata Chat, Undhiyu, Sambar, Panipuri, Dry Ginger, and Dabeli masalas.
- Maharaja CTC premium spice line Premium sub-brand of CTC-ground Indian spices including Maharaja Chilli Powder, Maharaja Turmeric Powder, Maharaja Coriander Powder, and Maharaja Coriander Cumin Powder, produced by cool-process pulverizing of naturally sun-dried seeds.
- Double Hathi Chilli Powder Range House-of-Double-Hathi red chilli powder range covering multiple specialty chilli varieties including Kashmiri Chilli Powder, Gholar Chilli Powder, Reshampatto Chilli Powder, Mumbai Chilli Powder, and Double Tikha Chilli Powder, designed for use in classic Indian dishes and global cuisine as versatile staples in 100g to 5kg pack sizes.
- Double Hathi Turmeric Powder Range Turmeric powder range under the Double Hathi label including Selam Turmeric Powder and Super Turmeric Powder, produced by grinding whole turmeric fingers in a hammer type pulverizer using a cool process to retain natural color, aroma, and curcumin strength, in 100g to 1kg sizes.
Quantifiable outcome
- FY March 2026 consolidated sales up 26.33% YoY to Rs 291.71 crore
- +4 more outcomes
Companies that use Madhusudan Masala
Customer profileSegments4 records
Ideal customer profiles4 records
Madhusudan Masala technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature4 records
Madhusudan Masala partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- RazorpaycoreRazorpay is integrated as the payment gateway on the Madhusudan Masala shop for Credit Card, Debit Card, and Net Banking transactions. The integration is referenced both on the checkout page (with Razorpay branding) and the Terms of Service.
- Madhusudan Agri Processing and Cold Storage Pvt LtdcoreSubsidiary entity whose equity shares have been valued and disclosed by Madhusudan Masala as part of its SEBI Regulation 46 disclosures. The company maintains a dedicated 'Financials of Subsidiary' investor section.
Scale indicators11 records
Recent moves7 records
Expansion highlights6 records
Madhusudan Masala competitors and assessment
Company assessmentDirect peers
- Catch Spices: Indian branded spice and seasoning manufacturer with overlapping ground and blended masala products distributed via retail and HoReCa. Competes head-to-head with Madhusudan in mass-market Indian kitchens and bulk food service.
- 777 Spices: India-based regional branded spice maker with strong presence in ground and blended masalas, particularly in South India. Directly comparable product mix and pricing tier to Madhusudan Masala's mid-market positioning.
- MDH (Mahashian Di Hatti): India's largest branded spice manufacturer offering ground spices, blended masalas, and pure spice powders across retail and export channels. Closest direct competitor to Madhusudan Masala in product mix, distribution model, and target segments (Indian households + HoReCa).
- Everest Spices: Leading Indian branded spice company with a portfolio of pure and blended masalas sold through grocery retail and wholesale. Direct competitor to Madhusudan across the same SKUs (chilli, turmeric, coriander, garam/sambar/biryani masalas) and customer base.
Regional players
- Sakthi Masala: South India-focused spice and masala brand with strong regional distribution in Tamil Nadu and adjacent markets. Comparable product mix to Madhusudan but geographically concentrated versus Madhusudan's claimed pan-India and global reach.
- Eastern Condiments: Kerala-based manufacturer of spices, masalas, and condiments with strong South Indian distribution. Overlaps with Madhusudan on ground and blended spice SKUs but concentrated in South India.
Emerging players
- Organic Tattva: Premium organic spice and staple foods brand sold primarily through modern retail and online channels. Comparable to Madhusudan's Maharaja CTC premium positioning and addresses the same consumer demand for purity/authenticity.
Broad incumbents
- Mother's Recipe: Indian packaged foods brand spanning pickles, pastes, ready-to-cook mixes, and spices. Competes with Madhusudan in the convenience spice/ready-mix space (Mother's Recipe mixes vs. 77 GREEN) and in mainstream Indian retail.
- Tata Sampann: Tata-group branded staples and spice platform with nationwide retail distribution. Competes with Madhusudan in pure ground spices but operates as a broad FMCG incumbent spanning pulses, rice, and spices.
- MTR Foods: Established Indian packaged foods company spanning ready-to-eat meals, spices, and instant mixes. Comparable to Madhusudan's 77 GREEN sub-brand in the convenience/ready-mix category and competes broadly in branded Indian pantry staples.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Madhusudan Masala social profiles
Digital presenceMadhusudan Masala compliance and trust
Trust signalCompliance2 records
Madhusudan Masala financial estimates
Financial estimateRevenue estimate
Valuation estimate
Madhusudan Masala leadership team
Management profileNumber of profiles
Madhusudan Masala subsidiaries and ownership
Company hierarchySubsidiaries1 record
Madhusudan Masala funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Madhusudan Masala M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Madhusudan Masala
What does Madhusudan Masala do?
Madhusudan Masala manufactures and sells ready-to-use ground spices, traditional blended masalas, tea, and vitamin-fortified instant mixes under the Madhusudan Masala, Double Hathi, Maharaja CTC, and 77 GREEN sub-brands. Spices are processed using a proprietary cool-process grinding technique with hammer type pulverizers after natural sun-drying of seeds to retain aroma, color, and natural oils. The company sells directly to consumers through its own branded e-commerce storefront and distributes wholesale to all market segments globally.
Is Madhusudan Masala a public or private company?
Madhusudan Masala is a public company. It is classified as public and is currently operating.
When was Madhusudan Masala founded?
Madhusudan Masala was founded in 1975. It employs 101 to 250 people.
Where is Madhusudan Masala based?
Madhusudan Masala is headquartered in Jamnagar, India, in the Asia region.
How does Madhusudan Masala make money?
Two revenue lines are on record. Direct-to-Consumer E-commerce Sales are the primary driver. The others are wholesale / Multi-Segment Distribution.
Who are Madhusudan Masala's main competitors?
Direct peers on record are Catch Spices, 777 Spices, MDH (Mahashian Di Hatti) and Everest Spices. Regional players are Sakthi Masala and Eastern Condiments. Organic Tattva is listed as an emerging player. Broad incumbents are Mother's Recipe, Tata Sampann and MTR Foods.
Does Madhusudan Masala have an API?
No public API is recorded for Madhusudan Masala.
What industry is Madhusudan Masala in?
Madhusudan Masala's product category is Spice Manufacturing. Its primary akta.pro industry code is AFAIAKAE, Spices, Herbs & Seasonings Trading/Wholesale, with a secondary code of AFAJANAB, Ground & Powdered Spices. Its NAICS code is 311942 and its SIC code is 2000.