Dilip Kumar came to know that Bimal Roy was running out of finance so arranged a special screening for the films distributors before its release this was something new at that time after watching the film the distributors agreed to put more money in the film.
Unlike other films, shot indoors, Roy decided to shoot Madhumati outdoors and at a hill station. It had six-week schedule in Ranikhet, Nainital. Some scenes were shot in Ghorakhal, near Nainital. In those days there were no monitors, so when the negatives were developed, it was found that the most of the footage was foggy. Since a re shoot in far-away Uttarakhand wasn't possible, sets were created near Vaitarna Dam, Igatpuri, near Nashik. Art direction team, led by Sudhendu Roy, created fake pine trees, which were planted to matched the location in Nainital. One particular scene where Dilip Kumar looks for Vyjayanthimala in the woods was actually shot in Igatpuri.Subsequently, a large part was also shot in Aarey Milk Colony, a small forested area in Mumbai. The foggy effect was recreated by employing gas bombs.
Madhumati was the record holder for the most awards 9 received by a film at the Filmfare Awards for 37 years until the release of Dilwale Dulhania Le Jayenge which won ten awards in 1996,
Rinki Bhattacharya daughter of Bimal Roy published a book on the making of the film, Bimal Roy's Madhumati: Untold Stories from Behind the Scenes.
Madhumati won the National Film Awards for Best Feature Film in Hindi and nine Filmfare Awards, including Best Film, Best Director, Best Music Director, Best Female Playback Singer, Best Dialogue, Best Art Direction, and Best Cinematographer.