---
title: "E-Land Apparel Ltd (532820) — Share Price, Financials & Analysis"
symbol: "532820"
company: "E-Land Apparel Ltd"
canonical: "https://tapetide.com/stocks/532820"
isin: "INE311H01018"
nse_symbol: "ELANDAPPARELLTD"
bse_code: "532820"
sector: "Textiles"
industry: "Textile Processing"
market_cap_cr: 53.21
generated_at: "2026-09-13T19:14:45.523Z"
---

# E-Land Apparel Ltd (532820)

Canonical page: https://tapetide.com/stocks/532820

## Company

- **NSE Symbol:** ELANDAPPARELLTD
- **BSE Code:** 532820
- **ISIN:** INE311H01018
- **Sector:** Textiles
- **Industry:** Textile Processing
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2007-03-09
- **CEO:** Mr. Dong Ju Kim
- **Employees:** 2601
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** elandapparel.com

## About

Incorporated in 1997, E Land Apparels
 Ltd is in the business of manufacture 
and sale of garments[1]

## Latest Price

## Key Fundamentals

Observed at 2026-09-11T04:45:46.374Z.

- **Market Cap:** ₹53.21 Cr
- **Classification:** Microcap
- **P/E (reported):** -1.2
- **EPS (TTM):** ₹-10.66
- **Book Value:** ₹-116.92
- **Price to Book:** -0.11
- **Dividend Yield:** 0%
- **ROE:** -2.82%
- **ROCE:** 16.55%
- **Debt to Equity:** 0
- **Revenue (yearly):** ₹261 Cr
- **Net Income:** ₹-43.92 Cr
- **EBITDA:** ₹-27.31 Cr
- **52-Week High:** ₹22.04
- **52-Week Low:** ₹10.12
- **RSI (14):** 55.34

## Tapetide Score

- **Score:** 30 / 100
- **Score date:** 2026-09-04
- **Archetype:** Weak and Under Pressure
- **What it means:** Weak financials are the defining feature, and neither the valuation nor the trend reading is strong enough to offset them. Worth reading the risk flags and recent filings closely before anything else.
- **Pillar profile:** Quality: Weak · Valuation: Expensive · Momentum: Falling
- **Percentile:** 2 (of 4473 scored stocks)
- **Confidence:** 84%
- **Data coverage:** 67%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 6.7 | 9% |
| growth | 33.35 | 9% |
| momentum | 37.54 | 12% |
| ownership | 50 | 24% |
| quality | 19.63 | 22% |
| valuation | 25.55 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -19.07% | 216.56% | 196.28% |
| ebitda margin growth | -377.78% | -213.1% | -218.27% | -278.76% |
| net income growth | 13.59% | -420.58% | -6% | 2% |
| revenue growth | -14.08% | -15.89% | 4% | 17% |
| roce | — | 57.02% | 75.13% | 9.24% |
| roe | — | -135.29% | 4.62% | -121.89% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 37.05 | 38.27 | 76.54 | 85.19 | 44.39 | 67.25 | 103.56 | 72.71 | 33.75 | 65.99 | 88.55 | 75.6 |
| Expenses | 36.27 | 38.49 | 71.31 | 76.23 | 44.17 | 62.98 | 99.26 | 75.62 | 47.22 | 75.51 | 89.48 | 80.62 |
| Operating Profit | 0.78 | -0.22 | 5.23 | 8.96 | 0.22 | 4.27 | 4.3 | -2.91 | -13.47 | -9.52 | -0.93 | -5.02 |
| OPM % | 2.11 | -0.57 | 6.83 | 10.52 | 0.5 | 6.35 | 4.15 | -4 | -39.91 | -14.43 | -1.05 | -6.64 |
| Other Income | 2.38 | 2.12 | 2.05 | 2.61 | 2.06 | 2.34 | 2.94 | 2.13 | 2.37 | 2.63 | 1.89 | 2.5 |
| Interest | 12.95 | 14.22 | 13.84 | 6.37 | 1.22 | 1.85 | 2.41 | 2.15 | 5.05 | 2.69 | 4.88 | 3.35 |
| Depreciation | 0.86 | 1.9 | 1.38 | 1.34 | 1.39 | 1.63 | 1.22 | 2.13 | 3.29 | 2.9 | 3.02 | 3.06 |
| Profit before tax | -10.65 | -14.22 | -7.94 | 3.86 | -0.33 | 3.13 | 3.61 | -5.06 | -19.44 | -12.48 | -6.94 | -8.93 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | -93.91 | 0 | 0 | 0 | 48.85 | 0 |
| Net Profit | -10.65 | -14.22 | -7.95 | 3.86 | -0.33 | 3.13 | 7.01 | -5.07 | -19.44 | -12.48 | -10.33 | -8.93 |
| EPS in Rs | -2.22 | -2.96 | -1.66 | 0.8 | -0.07 | 0.65 | 1.46 | -1.06 | -4.05 | -2.6 | -2.15 | -1.86 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 184 | 172 | 149 | 121 | 178 | 230 | 215 | 300 | 261 | 264 |
| Expenses | 203 | 176 | 152 | 127 | 172 | 217 | 203 | 283 | 288 | 293 |
| Operating Profit | -20 | -4 | -3 | -5 | 5 | 14 | 12 | 18 | -27 | -29 |
| OPM % | -11 | -2.6 | -1.8 | -4.4 | 2.9 | 6 | 6 | 6 | -10 | -11 |
| Other Income | -34 | 4 | 3 | 3 | 17 | 2 | 7 | 10 | 9 | 9 |
| Interest | 22 | 39 | 48 | 47 | 47 | 51 | 54 | 12 | 15 | 16 |
| Depreciation | 2 | 2 | 4 | 4 | 4 | 5 | 5 | 6 | 11 | 12 |
| Profit before tax | -78 | -42 | -52 | -53 | -29 | -40 | -40 | 10 | -44 | -48 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -33 | 8 | — |
| Net Profit | -78 | -42 | -52 | -53 | -29 | -40 | -40 | 14 | -47 | -51 |
| EPS in Rs | -16.34 | -8.65 | -10.93 | -11.04 | -5.96 | -8.31 | -8.3 | 2.85 | -9.86 | -10.66 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 | 48 |
| Reserves | -146 | -283 | -354 | -407 | -459 | -467 | -506 | -547 | -533 | -580 |
| Borrowings | 128 | 10 | 35 | 54 | 60 | 50 | 50 | 63 | 84 | 188 |
| Other Liabilities | 125 | 336 | 387 | 424 | 473 | 530 | 564 | 613 | 631 | 647 |
| Total Liabilities | 155 | 112 | 115 | 119 | 122 | 161 | 155 | 177 | 231 | 303 |
| Fixed Assets | 46 | 44 | 42 | 51 | 48 | 89 | 85 | 98 | 116 | 165 |
| CWIP | 0 | 0 | 1 | 17 | 20 | 0 | 0 | 0 | 0 | 31 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 109 | 68 | 72 | 51 | 53 | 72 | 70 | 80 | 115 | 107 |
| Total Assets | 155 | 112 | 115 | 119 | 122 | 161 | 155 | 177 | 231 | 303 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 62 | 222 | 18 | 14 | 5 | 15 | 5 | 18 | 14 | 3 |
| Cash from Investing Activity | 9 | 17 | 10 | -18 | -4 | -3 | -1 | -6 | -6 | -38 |
| Cash from Financing Activity | -69 | -241 | -25 | -1 | 3 | -11 | 0 | -9 | -19 | 33 |
| Net Cash Flow | 2 | -1 | 3 | -4 | 4 | 1 | 4 | 2 | -11 | -2 |
| Free Cash Flow | 59 | 222 | 17 | -4 | 1 | 12 | 4 | 13 | 4 | -34 |
| CFO/OP | -144 | -1119 | -387 | -539 | -91 | 294 | 33 | 148 | 81 | -12 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 64 | 46 | 41 | 41 | 55 | 41 | 37 | 43 | 60 | 55 |
| Inventory Days | 81 | 72 | 63 | 74 | 90 | 84 | 49 | 62 | 76 | 82 |
| Days Payable | 110 | 117 | 116 | 98 | 159 | 123 | 89 | 57 | 63 | 68 |
| Cash Conversion Cycle | 34 | 0 | -12 | 17 | -14 | 1 | -3 | 47 | 73 | 69 |
| Working Capital Days | -14 | 23 | 26 | 22 | -8 | 2 | 26 | 28 | 11 | -103 |
| ROCE % | -54 | — | — | — | — | — | — | — | — | — |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 65.92% | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% | 65.84% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 1.24% | 1.24% | 1.24% | 1.24% | 1.24% | 1.24% | 0.53% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 27.75% | 27.81% | 28.03% | 28.06% | 27.48% | 27.45% | 27.54% | 26.89% | 26.27% | 26.75% | 26.46% | 26.43% |
| Others | 5.09% | 5.11% | 4.88% | 4.86% | 5.44% | 5.47% | 6.09% | 7.27% | 7.89% | 7.41% | 7.7% | 7.73% |
| No. of Shareholders | 11981 | 12051 | 11859 | 11850 | 11675 | 11597 | 11672 | 11408 | 11318 | 11284 | 11145 | 11016 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 6 / 11

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 11.85 | Sell |
| EMA (10) | 11.92 | Sell |
| SMA (20) | 11.81 | Sell |
| EMA (20) | 11.96 | Sell |
| SMA (50) | 12.35 | Sell |
| EMA (50) | 12.31 | Sell |
| SMA (100) | 13.05 | Sell |
| EMA (100) | 12.87 | Sell |
| SMA (200) | 13.27 | Sell |
| EMA (200) | 13.93 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 45.42 | Neutral |
| MACD (12,26,9) | -0.1 | Buy |
| Stochastic (14,3,3) | 39.28 | Neutral |
| ADX (14) | 31.46 | Buy |
| Williams %R (14) | -71.1 | Neutral |
| ATR (14) | 1.25 | High Volatility |
| ROC (12) | -1.02 | Sell |
| Stoch RSI (14) | 44.05 | Neutral |
| UO (7,14,28) | 51.72 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-09 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=88dd8eb5-97fb-4440-be15-ca32ff3fc634.pdf) |
| 2026-09-08 | [Shareholder Meeting AGM-30.09.2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6a32128f-6609-4ade-b8a4-33bc25a3e5a1.pdf) |
| 2026-09-08 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=019a6c33-9260-4e29-83d6-e9dc4049889b.pdf) |
| 2026-08-15 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=971ebd3a-493b-4046-a63f-217d0d806814.pdf) |
| 2026-08-14 | [Board Meeting Outcome for Financial Results](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ac5c37da-dabf-4a85-8ba2-8794fcbc4dad.pdf) |
| 2026-08-11 | [Board Meeting Intimation for E-Land Apparel Limited To Be Held On 14 August 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ea8f3bc2-e978-41ad-a36d-6e7e31c116b2.pdf) |
| 2026-07-30 | [Board Meeting Outcome for Outcome Of The Circular Resolution Of The Company Passed On 30Th July 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=30031a84-00e8-4da4-b240-6a897a7bdea3.pdf) |
| 2026-07-30 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=515531a4-173f-4e0d-be92-13d09153329b.pdf) |
| 2026-07-30 | [Announcement under Regulation 30 (LODR)-Change in Directorate](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=10790ba7-acd3-415c-8c22-17599ef25d26.pdf) |
| 2026-07-27 | [Board Meeting Outcome for Outcome Of The Board Meeting Of The Company Held On 27Th July 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6fa7cb57-c7b6-4838-bdab-d4fbcb4e087d.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-08-14 | [Board Meeting Outcome For Board Meeting Held Today August 14 2026 Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d3e99f70-98ff-4eb1-a0c8-6949fe92df49.pdf) |
| 2026-05-29 | [Financial Results](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1fd2bc18-d14a-4de3-aed3-8d77e610e2d3.pdf) |
| 2026-02-11 | [Unaudited Financial Results Of The Company Along With The Limited Review Report For The Quarter And Nine Months Ended 31 December 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e4e306a2-8dbd-428d-9025-65cd38697626.pdf) |
| 2025-11-11 | [Unaudited Financial Results Of The Company Along With The Limited Review Report For The Quarter And Half Year Ended 30 September 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f17c797b-d8c2-4cd6-917e-3da1a7981a5e.pdf) |
| 2025-08-12 | [Un-Audited Financial Results For The Quarter Ended On June 30 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a3254cac-63cd-4e72-8b23-851a94e7f758.pdf) |
| 2025-05-29 | [Financial Results](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=241df91c-24a0-4a09-b1ee-8dc57ccf8e64.pdf) |
| 2025-02-13 | [Un-Audited Financials Results For The Quarter And Nine Months Ended On 31St December 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ae481291-073d-41d5-b9d4-dcb5e4f47b80.pdf) |
| 2024-11-14 | [Un-Audited Financials Results For The Quarter And Half Year Ended On 30Th September 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=20638932-b582-4265-9e5c-3f6b803138a2.pdf) |
| 2024-11-14 | [Un-Audited Financials Results For The Quarter And Half Year Ended On 30Th September 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d34c7e43-8ac5-4d6d-8272-2d3cc862dc01.pdf) |
| 2024-11-14 | [Un-Audited Financials Results For The Quarter And Half Year Ended On 30Th September 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7a16692e-ffd1-4e2b-9bf0-1aade062c413.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 9 March 2026 - Minor fire at Hapa Jamnagar plant on March 8, 2026; INR 60–70 lakh insured loss; operations resumed March 9. | [General Updates 9 March 2026 - Minor fire at Hapa Jamnagar plant on March 8, 2026; INR 60–70 lakh insured loss; operations resumed March 9.](https://nsearchives.nseindia.com/corporate/MADHUSUDAN_09032026165436_Reg_30_fire_incident_signed.pdf) |
| 6 Feb - Board meeting on 11 Feb 2026 to approve unaudited results for quarter/nine months ended 31 Dec 2025; trading window closed. | [Board Meeting Intimation for Board Meeting Of The Company To Be Held On 11Th February 2026. 6 Feb - Board meeting on 11 Feb 2026 to approve unaudited results for quarter/nine months ended 31 Dec 2025; trading window closed.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fc5a6235-fd09-4c73-8237-5d6274608aec.pdf) |
| 5 February 2026 - Unaudited standalone & consolidated results for quarter and H1 ended Sep 30, 2025; H1 consolidated PAT Rs 765.77 lakh. | [Outcome of Board Meeting 5 February 2026 - Unaudited standalone & consolidated results for quarter and H1 ended Sep 30, 2025; H1 consolidated PAT Rs 765.77 lakh.](https://nsearchives.nseindia.com/corporate/MADHUSUDAN_05022026164930_Revised_outcome_of_BM_Signed.pdf) |
| 5 February 2026 - Unaudited standalone & consolidated Q2/H1 results (30 Sep 2025); consolidated H1 net profit Rs 765.77 lakh. | [Outcome of Board Meeting 5 February 2026 - Unaudited standalone & consolidated Q2/H1 results (30 Sep 2025); consolidated H1 net profit Rs 765.77 lakh.](https://nsearchives.nseindia.com/corporate/MADHUSUDAN_05022026160230_Revised_outcome_of_BM_Signed.pdf) |
| 4 February 2026 - Mgmt to meet Sunidhi Securities on Feb 5, 2026 12:00PM, in-person one-to-one; no UPSI. | [Analysts/Institutional Investor Meet/Con. Call Updates 4 February 2026 - Mgmt to meet Sunidhi Securities on Feb 5, 2026 12:00PM, in-person one-to-one; no UPSI.](https://nsearchives.nseindia.com/corporate/MADHUSUDAN_04022026180909_final__Signed_.pdf) |
| 27 February 2026 - The managment of the Company will be participating in the investor conference scheduled to be held on March 06, 2026. | [Analysts/Institutional Investor Meet/Con. Call Updates 27 February 2026 - The managment of the Company will be participating in the investor conference scheduled to be held on March 06, 2026.](https://nsearchives.nseindia.com/corporate/MADHUSUDAN_27022026122109_Intimation_signedd.pdf) |
| 24 February 2026 - 66,800 ESOPs granted at Rs.10 each on Feb 24, 2026. | [Committee Meeting Updates 24 February 2026 - 66,800 ESOPs granted at Rs.10 each on Feb 24, 2026.](https://nsearchives.nseindia.com/corporate/MADHUSUDAN_24022026151555_Outcome_SD.pdf) |
| 23 January 2026 - Transcript of earnings call held Jan 20, 2026 for quarter ended Dec 31, 2025; link provided. | [Analysts/Institutional Investor Meet/Con. Call Updates 23 January 2026 - Transcript of earnings call held Jan 20, 2026 for quarter ended Dec 31, 2025; link provided.](https://nsearchives.nseindia.com/corporate/MADHUSUDAN_23012026124839_sd.pdf) |
| 20 Jan - Appointed Mr. Woo Sang Kim as Additional Executive Director and CFO effective Jan 20, 2026; subject to shareholder approval. | [Announcement under Regulation 30 (LODR)-Change in Management 20 Jan - Appointed Mr. Woo Sang Kim as Additional Executive Director and CFO effective Jan 20, 2026; subject to shareholder approval.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7c8fade0-6f0a-4b0e-8dda-3a2ac27ca073.pdf) |
| 17 Mar - Read with Schedule III of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 please find enclosed a copy of the newspaper publication dated March 17, … | [Announcement Under Regulation 30 (LODR)-Newspaper Publication 17 Mar - Read with Schedule III of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 please find enclosed a copy of the newspaper publication dated March 17, …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2da4fd0d-d941-4351-bc83-08864ed929ee.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Oct 2024 | [Concall - Oct 2024](https://nsearchives.nseindia.com/corporate/MADHUSUDAN_01102024185654_Reg30_InvestorPresentation_SD.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://nsearchives.nseindia.com/corporate/MADHUSUDAN_29112024153721_Covering.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://nsearchives.nseindia.com/corporate/MADHUSUDAN_24112023164343_Trascript_SD.pdf) |
| May 2024 | [Concall - May 2024](https://nsearchives.nseindia.com/corporate/MADHUSUDAN_31052024142457_Trascript.pdf) |
| Jun 2025 | [Concall - Jun 2025](https://nsearchives.nseindia.com/corporate/MADHUSUDAN_03062025172239_Covering_-Transcript_SD.pdf) |
| Feb 2025 | [Concall - Feb 2025](https://nsearchives.nseindia.com/corporate/MADHUSUDAN_17022025114046_Investors_Presentation.pdf) |
| Aug 2025 | [Concall - Aug 2025](https://nsearchives.nseindia.com/corporate/MADHUSUDAN_06082025164056_Intimation_presentation__2_.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_27529_MADHUSUDAN_2024_2025_A_20082025181913.pdf) |
| from nse | [Financial Year 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_25033_MADHUSUDAN_2023_2024_21082024124215.pdf) |
| from nse | [Annual Report 2013 from nse](https://archives.nseindia.com/annual_reports/AR_1505_MUDRA_2012_2013_05092013123003.zip) |
| from nse | [Annual Report 2012 from nse](https://archives.nseindia.com/annual_reports/AR_MUDRA_2011_2012_25022013101819.zip) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6c5f2eb8-7154-4dff-9be1-afbba5ace315.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a3c0eec8-f672-4998-9c44-8b3cf7cf4016.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3a28d26b-7af6-48df-b395-adcb8fc0e37b.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/532820/75757532820.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/532820/72136532820.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/532820/68046532820.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:14:45.523Z.