Micro-Cap stock engaged in the business of manufacturing and processing more than 32 types of Spices under the brand names DOUBLE HATHI and MAHARAJA hit a 20 percent upper circuit upon posting its Q4FY24 results with a 78 percent jump in Net profits.
Its Net profit half yearly grew by 77.64 percent from Rs. 3.31 Crores in H1FY24 to Rs. 5.88 Crores in H2FY24 and it grew by 48.86 percent from Rs. 3.95 Crores in H2FY23 to Rs. 5.88 Crores in H2FY24. Annually it generated a Net Profit of Rs. 5.75 Crores in FY23 to Rs. 9.19 Crores in FY24, indicating a growth of 60 percent.
Madhusudan Masala Limited is engaged in the production and processing of over 32 types of spices, operates under the brand names “Double Hathi” and “Maharaja”. Their product line includes whole spices, tea, and other groceries, all sold under the “Double Hathi” brand.
The company’s spice business is divided into ground spices and blend spices segments, contributing to 75 percent of the company’s revenue and the remaining 25 percent of the revenue comes from other products such as food grains, tea, and groceries.
The Ground spices sold include chili powder, turmeric powder, coriander powder, and coriander-cumin powder. Blend spices range from garam masala and tea masala to various other masalas and powders. Other products includes food grains, tea, and groceries like rajgira flour, papad, soya products, asafoetida (hing), achar masala and others.