Modi Naturals vs Gokul Refoils vs Madhusudan Masala: Which Stock Should You Track

Modi Naturals vs Gokul Refoils and Solvent vs Madhusudan Masala starts with the core numbers most investors compare within the food processing segment: market capitalisation, valuation multiples, profitability, dividend yield and the latest quarterly results. Figures below are sourced as of October 2026 and will shift with daily price moves.

All three names sit in the food processing bucket, which makes them a natural set to place side by side rather than a random trio of unrelated businesses. The sections below cover the company profiles, a valuation table, the latest quarter and a five-quarter trend for revenue and net profit.

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Modi Naturals, Gokul Refoils and Solvent and Madhusudan Masala: Company Overview

Modi Naturals is a listed Indian company in the food processing space, tracked here on book value, return ratios and valuation alongside its peers in this comparison. It has a market capitalisation of about Rs 383 crore, a return on equity of 29.21% and a book value of Rs 129.36 per share. Its quarterly revenue moved from Rs 155.07 crore in June 2025 to Rs 155.28 crore in June 2026, a change of +0.1%.

Gokul Refoils and Solvent is a listed Indian company in the food processing space, tracked here on book value, return ratios and valuation alongside its peers in this comparison. It has a market capitalisation of about Rs 375 crore, a return on equity of 5.08% and a book value of Rs 36.71 per share. Its quarterly revenue moved from Rs 929.40 crore in June 2025 to Rs 1,020.23 crore in June 2026, a change of +9.8%.

Madhusudan Masala is a listed Indian company in the food processing space, tracked here on book value, return ratios and valuation alongside its peers in this comparison. It has a market capitalisation of about Rs 362 crore, a return on equity of 15.08% and a book value of Rs 85.88 per share. Its quarterly revenue moved from Rs 73.29 crore in June 2025 to Rs 98.59 crore in June 2026, a change of +34.5%.

Modi Naturals vs Gokul Refoils and Solvent vs Madhusudan Masala: Valuation and Profitability Snapshot

Metric	Modi Naturals	Gokul Refoils and Solvent	Madhusudan Masala
Market Cap (approx.)	Rs 383 crore	Rs 375 crore	Rs 362 crore
PE Ratio (TTM)	7.33	18.11	17.39
PB Ratio	2.23	1.03	2.61
Return on Equity (ROE)	29.21%	5.08%	15.08%
EPS (TTM, Rs)	39.30	2.09	12.91
Dividend Yield	0.00%	0.00%	0.00%
Debt to Equity	0.94	1.05	0.68
Book Value per Share (Rs)	129.36	36.71	85.88

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On valuation, Modi Naturals trades at a PE of 7.33 and a PB of 2.23, Gokul Refoils and Solvent at a PE of 18.11 and a PB of 1.03, while Madhusudan Masala trades at a PE of 17.39 and a PB of 2.61. On return on equity, the three post 29.21%, 5.08% and 15.08% respectively, and on dividend yield they stand at 0.00%, 0.00% and 0.00%. Modi Naturals has the highest market capitalisation of the three at Rs 383 crore, while Madhusudan Masala has the lowest at Rs 362 crore. Gokul Refoils and Solvent has the highest PE ratio of the three at 18.11, while Modi Naturals has the lowest at 7.33. Modi Naturals has the highest return on equity of the three at 29.21%, while Gokul Refoils and Solvent has the lowest at 5.08%. Gokul Refoils and Solvent has the highest debt to equity ratio of the three at 1.05, while Madhusudan Masala has the lowest at 0.68. Debt to equity is 0.94, 1.05 and 0.68 for the three respectively.

Modi Naturals vs Gokul Refoils and Solvent vs Madhusudan Masala: Latest Quarterly Results

Company	Latest Quarter Revenue	Latest Quarter Net Profit	YoY Change (Revenue)	QoQ Change (Revenue)	YoY Change (Net Profit)
Modi Naturals	Rs 155.28 crore	Rs 12.50 crore	+0.1%	-36.2%	+19.2%
Gokul Refoils and Solvent	Rs 1,020.23 crore	Rs 6.08 crore	+9.8%	-4.6%	+57.5%
Madhusudan Masala	Rs 98.59 crore	Rs 6.50 crore	+34.5%	+1.1%	+55.9%

Quarterly figures above are the most recent reported quarter for each company (Q1 FY27, quarter ended June 2026), compared with the year-ago and preceding quarter. A percentage change in net profit is shown as NA where the comparison quarter was a loss or the latest quarter is a loss, since the percentage is not meaningful in that case.

Modi Naturals vs Gokul Refoils and Solvent vs Madhusudan Masala: Five-Quarter Revenue and Net Profit Trend

The five-quarter view below shows how revenue and net profit moved from June 2025 to June 2026 for each company in Modi Naturals vs Gokul Refoils and Solvent vs Madhusudan Masala, which helps separate a one-quarter move from a steadier pattern.

Quarterly revenue (Rs crore)

Quarter	Modi Naturals	Gokul Refoils and Solvent	Madhusudan Masala
June 2025	Rs 155.07 crore	Rs 929.40 crore	Rs 73.29 crore
September 2025	Rs 147.70 crore	Rs 1,071.10 crore	Rs 45.65 crore
December 2025	Rs 174.12 crore	Rs 1,082.43 crore	Rs 76.51 crore
March 2026	Rs 243.29 crore	Rs 1,069.95 crore	Rs 97.56 crore
June 2026	Rs 155.28 crore	Rs 1,020.23 crore	Rs 98.59 crore

Quarterly net profit (Rs crore)

Quarter	Modi Naturals	Gokul Refoils and Solvent	Madhusudan Masala
June 2025	Rs 10.49 crore	Rs 3.86 crore	Rs 4.17 crore
September 2025	Rs 10.07 crore	Rs 3.52 crore	Rs 3.49 crore
December 2025	Rs 10.04 crore	Rs 5.25 crore	Rs 4.70 crore
March 2026	Rs 19.67 crore	Rs 5.85 crore	Rs 6.14 crore
June 2026	Rs 12.50 crore	Rs 6.08 crore	Rs 6.50 crore

Modi Naturals reported revenue of Rs 155.07 crore in June 2025 and Rs 155.28 crore in June 2026, a change of +0.1% across the period. Its highest quarterly revenue in this window was Rs 243.29 crore in March 2026. Net profit stood at Rs 12.50 crore in June 2026, which is a net profit margin of 8.05%.

Gokul Refoils and Solvent reported revenue of Rs 929.40 crore in June 2025 and Rs 1,020.23 crore in June 2026, a change of +9.8% across the period. Its highest quarterly revenue in this window was Rs 1,082.43 crore in December 2025. Net profit stood at Rs 6.08 crore in June 2026, which is a net profit margin of 0.60%.

Madhusudan Masala reported revenue of Rs 73.29 crore in June 2025 and Rs 98.59 crore in June 2026, a change of +34.5% across the period. Its highest quarterly revenue in this window was Rs 98.59 crore in June 2026. Net profit stood at Rs 6.50 crore in June 2026, which is a net profit margin of 6.59%.

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What Should Investors Look at Beyond These Numbers?

Beyond the metrics above, investors comparing these three food processing names should track quarter-on-quarter revenue and margin trends, management commentary on demand and cost drivers, and factors specific to the segment such as oilseed and agri commodity prices, import duty policy, thin processing margins and working capital needs. A single-quarter snapshot can shift quickly, and smaller companies in particular can show wide swings from one quarter to the next.

It also helps to read the latest quarterly filings and investor presentations of Modi Naturals, Gokul Refoils and Solvent and Madhusudan Masala directly, since the figures here come from standardised data and do not capture company-specific context such as one-time items, order timing or promoter actions.

Conclusion

Modi Naturals vs Gokul Refoils and Solvent vs Madhusudan Masala highlights how differently three companies in the same food processing segment can look across valuation, profitability and dividend metrics, even when operating in a similar space. This comparison does not declare a winner; investors should weigh these figures against their own research and risk appetite. Please read the disclaimer below before making any investment decision.

FAQs on Modi Naturals vs Gokul Refoils and Solvent vs Madhusudan Masala

What is the market cap difference between Modi Naturals, Gokul Refoils and Solvent and Madhusudan Masala?

Ans. As of October 2026, Modi Naturals has a market cap of approximately Rs 383 crore, Gokul Refoils and Solvent is at approximately Rs 375 crore, and Madhusudan Masala is at approximately Rs 362 crore.

What are the PE and PB ratios of Modi Naturals, Gokul Refoils and Solvent and Madhusudan Masala?

Ans. As of October 2026, the PE ratios stand at 7.33, 18.11 and 17.39 respectively, and the price to book ratios stand at 2.23, 1.03 and 2.61 respectively.

Which of the three has the highest ROE?

Ans. Modi Naturals, Gokul Refoils and Solvent and Madhusudan Masala post ROE of 29.21%, 5.08% and 15.08% respectively as of October 2026. Modi Naturals has the highest return on equity of the three at 29.21%, while Gokul Refoils and Solvent has the lowest at 5.08%.

Which of these three stocks pays the highest dividend yield?

Ans. Modi Naturals, Gokul Refoils and Solvent and Madhusudan Masala carry dividend yields of 0.00%, 0.00% and 0.00% respectively.

What is the debt to equity ratio for Modi Naturals, Gokul Refoils and Solvent and Madhusudan Masala?

Ans. Modi Naturals carries a debt to equity of 0.94, Gokul Refoils and Solvent of 1.05, and Madhusudan Masala of 0.68.

What were the latest quarterly revenue and net profit of Modi Naturals, Gokul Refoils and Solvent and Madhusudan Masala?

Ans. For Q1 FY27 (quarter ended June 2026), Modi Naturals reported revenue of Rs 155.28 crore and net profit of Rs 12.50 crore, Gokul Refoils and Solvent reported revenue of Rs 1,020.23 crore and net profit of Rs 6.08 crore, and Madhusudan Masala reported revenue of Rs 98.59 crore and net profit of Rs 6.50 crore.

Does this comparison recommend one of Modi Naturals, Gokul Refoils and Solvent and Madhusudan Masala?

Ans. This comparison does not declare one stock ahead of another; each company scores differently across valuation, profitability and dividend metrics, and the right fit depends on an individual investor's own criteria and research.