Mahua (Madhuca indica J.F. Gmel) is a tree known for its phytochemical and nutritional benefits. The flowers and seeds of the plant are commonly used in various therapeutic applications. The present review focuses on the overlooked attributes of undervalued Mahua flowers which are cherished by tribal population for its usage in their culinary habits, however specific emphasis on its potential to reduce anaemia has been very limited. Including India, various countries across the world have been impacted with the anaemia and there has been limited strategy for its combatting. Mahua has been part of tribal diet; it has a potential for various health ailments which is untapped. The review is focused to highlight the indigenous usage of Mahua flower for their nutritional and phytochemical benefits. The iron metabolism, absorption mechanism and status of anaemia along with strategies to combat anaemia using Mahua flowers is discussed. The present usage and revaluation of Mahua flowers in contemporary health strategies, as food components highlighting its nutritional richness and medicinal potential is evaluated. However, due to the lack of knowledge and unexplored avenues of Mahua it has not been utilized for its potentiality. The recommendations, challenges and futuristic approach to evaluate the comprehensive characterization, toxicity aspects and nanoformulation of Mahua flower extracts are discussed briefly.