₹1,586 crore of revenue reported in the latest year (mostly FY25) by the 19 of Maharashtra's 259 spice manufacturers with accounts on file. The ten largest produce 94% of it; the typical filer earns ₹37.5 crore.
Active companies
259
spice manufacturers on the register
Reported revenue
₹1,586 crore
19 companies with accounts
Profitable
89%
of filers · India 81%
Secured loans
20.8%
of companies have one on record
What stands out about Maharashtra's spice manufacturers
01
Revenue
₹1,586 crore
of revenue reported in the latest year (mostly FY25) by the 19 of Maharashtra's 259 spice manufacturers with accounts on file. The ten largest produce 94% of it; the typical filer earns ₹37.5 crore.
02
Profitability
89%
of filers reported a profit (India, same segment: 81%); the median net margin is 1.3% against 1.2% nationally.
03
Growth
+7%
median revenue growth across 18 companies with two consecutive years on file (India: +8%); 1 grew by more than half and 6 shrank. Only companies still filing are counted.
04
Labour cost
4%
of revenue goes on employee cost for the median filer (5% nationally), so this segment is less labour-intensive in Maharashtra than across India.
05
Lending
20.8%
of Maharashtra spice manufacturers have a secured loan on record (India: 18.3%). Most frequent lenders: Union Bank Of India (7), HDFC Bank (7), State Bank Of India (7). Open borrowings against company assets total ₹618 crore.
06
Where the money is
66%
of reported revenue comes from Mumbai, which holds 41% of Maharashtra's spice manufacturers.
Where Maharashtra's spice manufacturers are
Companies by the city or district of their registered address.
City
Companies
Share
Reported revenue
Share of revenue
Mumbai
107
41.3%
₹1,041 crore
66%
Thane
38
14.7%
₹34.2 crore
2%
Pune
33
12.7%
₹4.1 crore
0%
Nagpur
20
7.7%
₹358 crore
23%
Aurangabad
11
4.2%
₹85.9 crore
5%
Nashik
8
3.1%
–
–
Sangli
6
2.3%
–
–
Beed
3
1.2%
–
–
Wardha
3
1.2%
₹62.5 crore
4%
Solapur
3
1.2%
–
–
Spice Manufacturers in Maharashtra by size
From the latest accounts each company has filed, split by annual revenue. Growth compares with the year before; net margin is profit after tax over revenue.
Suruchi Spices is a brand offering Indian spices and spice powder mixes in packaged form. It has also diversified into papad, processed items like pickles, ketchups, and ready to cook mixes for Indian snacks and sweets like dhokla, dosa, jalebi, gulab jamun, etc. The company caters primarily to the market in central India and also has presences in West Bengal, Bihar, Orissa and Jammu & Kashmir.
Suruchi Spices Private Limited is a private company incorporated in 1990, with its registered office in Nagpur, Maharashtra, classified under food & beverages. In FY24 it reported revenue of ₹358 crore, up 10% on the year before, with a net margin of 9.9%.
Empire Spices & Foods owns the brands Rambandhu, Spice One and Temptin. It is engaged in production and marketing of packaged spices and spice powder mixes, ketchups, etc. Claims to be catering to the markets in 10 states in west and central India.
Empire Spices And Foods Limited is a public company incorporated in 1994, with its registered office in Mumbai, Maharashtra, classified under food & beverages. In FY24 it reported revenue of ₹295 crore, down 1% on the year before, with a net margin of 4.6%.
Revenue (FY24)₹295 crore
Growth vs prior year−1%
Net margin4.6%
Net worth₹95.1 crore
Paid-up capital₹4.8 crore
AreaMumbai
Incorporated1994 · Public company
Secured loans3 open
Key peopleUmesh Rathi (Managing Director)
Founders & leadershipUUmesh Rathi1 person
UR
Umesh Rathi
Managing Director
03 · FY25 accounts · Mumbai
S
Swani Spice Mills Pvt Ltd
If Food Be The Spice Of Life, Flavor It With Variety - Swani Chefs Tickled The Palate In Infinite Ways, Depending On The Cuisine Of The Local Regions. This Helped Open The Minds Of Various Ethnic Groups Around The World To Sample, Taste And Appreciate The Foods And Flavours From Tropical Lands, Where The All Spices Grow. Spices, And Especially Pepper Which Was Termed “black Gold” In The Mediaeval Times, Is What Brought The Portuguese To India, And Sent Christopher Columbus Searching In The Wrong Direction, And He Landed In America Instead Of India. Such Was The Passion For Spices.
Swani Spice Mills Pvt Ltd is a private company incorporated in 1992, with its registered office in Mumbai, Maharashtra, classified under food & beverages. In FY25 it reported revenue of ₹270 crore, up 14% on the year before, with a net margin of 2.2%.
Revenue (FY25)₹270 crore
Growth vs prior year+14%
Net margin2.2%
Net worth₹81.3 crore
Paid-up capital₹30 lakh
AreaMumbai
Incorporated1992 · Private company
Secured loans13 open
OffersTurmeric Finger & Powder, Red Chillies, Coriander Seeds, Fennel Seed
It is a company founded in 2008 that specializes in exporting spices and food products, offering authentic recipes to match traditional tastes. With a focus on quality, they provide a wide range of Indian spices for cooking enthusiasts worldwide.
Quality Spices & Food Exports Private Limited is a private company incorporated in 2008, with its registered office in Mumbai, Maharashtra, classified under food & beverages. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Revenue (FY25)XXXX
Growth vs prior yearXXXX
Net marginXXXX
Net worthXXXX
Paid-up capitalXXXX
AreaMumbai
Incorporated2008 · Private company
Key peopleP Soni (Co-Founder); Shreyas Shah (Co-Founder)
Founders & leadershipPSP Soni, Shreyas Shah2 people
PS
P Soni
Co-Founder
Currently Founder
SS
Shreyas Shah
Co-Founder
Currently Founder
ProductsKitchen King Masala, Pav Bhaji Masala +46 products
Exporter of a wide range of spices, oil seeds, food grains, herbs, pulses, raisins, vegetables, and papads.
Sharmili Spices Private Limited is a private company incorporated in 2005, with its registered office in Mumbai, Maharashtra, classified under agriculture & farming. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Revenue (FY25)XXXX
Growth vs prior yearXXXX
Net marginXXXX
Net worthXXXX
Paid-up capitalXXXX
AreaMumbai
Incorporated2005 · Private company
Secured loans6 open
Directors on recordHarshit Kailash Bhinde, Poonam Harshit Bhinde2 directors
Harshit Kailash BhindeDirector · since 2014
Poonam Harshit BhindeDirector · since 2018
Financials locked for 2 of 5 bigger spice manufacturersRevenue, growth, margin and net worth for every one of them are in Fliar Radar.
Ravi Masale is a private label brand for processed and packaged foods. Offerings include pickles, spices, instant mixes, papads, blended spices, sweets and ketchup. Claims to be ISO 22000-2005 certified. Operates through an offline retail channel
Ravi Pickles And Spices India Private Limited is a private company incorporated in 2012, with its registered office in Aurangabad, Maharashtra, classified under wholesale trade. In FY25 it reported revenue of ₹64.9 crore, down 36% on the year before, with a net margin of 3.3%.
Suruchi Spices is a brand offering Indian spices and spice powder mixes in packaged form. It has also diversified into papad, processed items like pickles, ketchups, and ready to cook mixes for Indian snacks and sweets like dhokla, dosa, jalebi, gulab jamun, etc. The company caters primarily to the market in central India and also has presences in West Bengal, Bihar, Orissa and Jammu & Kashmir.
Shreeganesh Spice Enterprises Private Limited is a private company incorporated in 2020, with its registered office in Wardha, Maharashtra, classified under food & beverages. In FY25 it reported revenue of ₹62.5 crore, down 7% on the year before, with a net margin of 0.4%.
Manufacturer of elevator control panels and components. This company designs and produces interface components for elevators, including landing and car operator panels, floor position indicators, push buttons, and emergency equipment. They offer various panel options, such as pre-wired parallel and CANBUS systems, and customizable designs. The product line also encompasses administration equipment and decorative design elements. The manufacturing process includes in-house production of mechanical parts, plastic injection molding, and sheet metal processing.
Sami Spices And Herbs Private Limited. is a private company incorporated in 2008, with its registered office in Mumbai, Maharashtra, classified under agriculture & farming. In FY25 it reported revenue of ₹56.1 crore, down 1% on the year before, with a net margin of 1.3%.
ProfileFounder Sami, Sabinsa Group. St John's University PhD 1986
EducationSt. John's University
Companieslinked to 2 companies
LinkedIn2K followers · Bangalore Urban, Karnataka, India
04 · FY24 accounts · Mumbai
M
M M Poonjiaji Spices Limited
The place, India. The year, 1883 . The man, M.
M M Poonjiaji Spices Limited is a public company incorporated in 1999, with its registered office in Mumbai, Maharashtra, classified under food & beverages. Its latest accounts on file are for FY24; revenue, growth and margin are locked below.
Shri Ram Spices Pvt.Ltd. is a company that specializes in the production and trading of a variety of spices, dry fruits, and other food products. The company's product range includes whole spices, spice blends, and dry fruits, which are sourced from local and international suppliers. With a focus on quality and customer satisfaction, Shri Ram Spices Pvt.Ltd. caters to both domestic and international markets, providing a range of products that cater to different culinary needs.
Shri Ram Spices Private Limited is a private company incorporated in 1989, with its registered office in Mumbai, Maharashtra, classified under wholesale trade. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Brand of rice, pulses, spices, pickles, flour, nuts, and dry fruits
Masala King Exports Trading Private Limited is a private company incorporated in 2009, with its registered office in Mumbai, Maharashtra, classified under business services (consulting, advertising, staffing). Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Revenue (FY25)XXXX
Growth vs prior yearXXXX
Net marginXXXX
Net worthXXXX
Paid-up capitalXXXX
AreaMumbai
Incorporated2009 · Private company
Brand founded1984
Secured loans1 open
Directors on recordVandana Dhananjay Datar, Dhananjay Mhadhavrao Datar2 directors
Vandana Dhananjay DatarDirector · since 2009
Dhananjay Mhadhavrao DatarDirector · since 2009
ProductsPooja Agarbati, Dal Beans And Pulses +35 products
Product 01 / 05
Pooja Agarbati
PriceOn request
Range5 products listed by Masala King Trading
Product 02 / 05
Dal Beans And Pulses
PriceOn request
Range5 products listed by Masala King Trading
Product 03 / 05
Soaps And Beauty Care
PriceOn request
Range5 products listed by Masala King Trading
Product 04 / 05
Food Spices
PriceOn request
Range5 products listed by Masala King Trading
Product 05 / 05
Ambemohar Rice
PriceOn request
Range5 products listed by Masala King Trading
1 / 5
Financials locked for 6 of 9 mid-size spice manufacturersRevenue, growth, margin and net worth for every one of them are in Fliar Radar.
Manufacturer and distributor of authentic Indian spices and pastes. It produces a variety of spice blends, powders, and pastes using traditional methods and high-quality ingredients. The company offers products for both home cooks and professional chefs, focusing on delivering the authentic flavors of India. Its products are sourced from reputable suppliers and processed using a low-temperature grinding process to preserve their freshness and aroma. The company maintains a commitment to quality and traditional methods throughout its production process.
Mangal Masala Private Limited is a private company incorporated in 2009, with its registered office in Mumbai, Maharashtra, classified under food & beverages. In FY25 it reported revenue of ₹4.8 crore, up 5% on the year before, with a net margin of 0.6%.
A brand owned by Navalakha Group. Pickles, spices, blended spices, premium spices, papads, flattened rice, and crushed gooseberry are some of the products manufactured and retailed under the brand name Kamdhenu. Apart from spices, offer products like cummin, sesame and mustard seeds to the export market in Middle east, some parts of Far east and in Europe.
Kamdhenu Pickls And Spices Industries Pvt. Ltd. is a private company incorporated in 1986, with its registered office in Pune, Maharashtra, classified under food & beverages. In FY25 it reported revenue of ₹4.1 crore, up 7% on the year before, with a net margin of −50.4%.
Revenue (FY25)₹4.1 crore
Growth vs prior year+7%
Net margin−50.4%
Net worth−₹4.9 crore
Paid-up capital₹4.9 crore
AreaPune
Incorporated1986 · Private company
Brand founded1983
Secured loans7 open
Key peopleDhananjay Navalakha (Managing Director)
Founders & leadershipDDhananjay Navalakha1 person
DN
Dhananjay Navalakha
Managing Director
ProductsLemon And Chilli Mix Pickle, Mix Pickle +35 products
Product 01 / 05
Lemon And Chilli Mix Pickle
CategorySambar Powder
Price₹115 per kilogram
Range5 products listed by Kamdhenu Pickles & Spices
Product 02 / 05
Mix Pickle
CategorySambar Powder
Price₹115 per kilogram
Range5 products listed by Kamdhenu Pickles & Spices
Product 03 / 05
Amla Candy
CategorySambar Powder
Price₹180 per kilogram
Range5 products listed by Kamdhenu Pickles & Spices
Product 04 / 05
Mango Pickle
CategorySambar Powder
Price₹115 per kilogram
Range5 products listed by Kamdhenu Pickles & Spices
Product 05 / 05
Kokam Amla Candy
CategorySambar Powder
PriceOn request
Range5 products listed by Kamdhenu Pickles & Spices
1 / 5
03 · FY25 accounts · Mumbai
S
Shree Balaji Gums And Spice Stuff Private Limited
Neej is a leading Manufacturer based in Mumbai. Established in 1993, we are committed to delivering quality products and services.
Shree Balaji Gums And Spice Stuff Private Limited is a private company incorporated in 1993, with its registered office in Mumbai, Maharashtra, classified under food & beverages. In FY25 it reported revenue of ₹3.7 crore, down 65% on the year before, with a net margin of 0.5%.
Revenue (FY25)₹3.7 crore
Growth vs prior year−65%
Net margin0.5%
Net worth₹5.9 crore
Paid-up capital₹50 lakh
AreaMumbai
Incorporated1993 · Private company
Secured loans3 open
OffersGreen Cardamom Seed, Large Cardamom, Methi Dana, Dry Black Pepper
Provider of Chinese and multi cuisine restaurant services
Five Spice Restaurants Private Limited is a private company incorporated in 1994, with its registered office in Mumbai, Maharashtra. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Manufacturer and Exporter of Indian spices, whole spices and chili powders.
Sudhamrut Spices And Foods Private Limited is a private company incorporated in 2017, with its registered office in Nagpur, Maharashtra, classified under business services (consulting, advertising, staffing). Its latest accounts on file are for FY18; revenue, growth and margin are locked below.
Revenue (FY18)XXXX
Growth vs prior yearXXXX
Net marginXXXX
Net worthXXXX
Paid-up capitalXXXX
AreaNagpur
Incorporated2017 · Private company
Brand founded2009
Directors on recordAshwinikumar Anant Sovani, Krushnanand Vasant Shirpurkar2 directors
Ashwinikumar Anant SovaniDirector · since 2017
Krushnanand Vasant ShirpurkarDirector · since 2017
ProductsPaneer Masala Powder, Satwik Veg Masala +35 products
Product 01 / 05
Paneer Masala Powder
CategoryRed Chilli Powder
Price₹10 per pack
Range5 products listed by Sudhamrut Spices
Product 02 / 05
Satwik Veg Masala
CategoryRed Chilli Powder
Price₹10 per packet
Range5 products listed by Sudhamrut Spices
Product 03 / 05
Pav Bhaji Masala
CategoryRed Chilli Powder
Price₹10 per packet
Range5 products listed by Sudhamrut Spices
Product 04 / 05
Chole Masala
CategoryRed Chilli Powder
Price₹10 per packet
Range5 products listed by Sudhamrut Spices
Product 05 / 05
All In One Masala
CategoryRed Chilli Powder
PriceOn request
Range5 products listed by Sudhamrut Spices
1 / 5
Financials locked for 2 of 5 smaller spice manufacturersRevenue, growth, margin and net worth for every one of them are in Fliar Radar.
How much revenue do spice manufacturers in Maharashtra generate?
The 19 companies with accounts on file reported ₹1,586 crore in their latest year; the median is ₹37.5 crore and the top ten make up 94%.
Are spice manufacturers in Maharashtra profitable?
89% of filers reported a profit and the median net margin is 1.3%; median revenue growth is +7%.
Which city in Maharashtra has the most spice manufacturers?
Mumbai (107); Thane (38); Pune (33).
Which banks lend to spice manufacturers in Maharashtra?
Union Bank Of India (7 companies); HDFC Bank (7 companies); State Bank Of India (7 companies); Axis Bank (6 companies).
Companies come from the Ministry of Corporate Affairs register (active companies; incorporations through 2022). Revenue, profit and net worth are the latest statutory accounts on file for companies that file them, standalone where available; companies without accounts are not in revenue figures. Secured loans are charges registered against company assets. Hiring is from Fliar Radar job tracking. Directory figures come from business-directory listings collected in 2026 (reviews to 2021). Counts are a floor: some incorporation years are only partly covered.