Background: Mungbean is consumed as whole, sprouts or dehusked splits, in form of dal. Dal is prepared after removal of outer husk cover and splitting the cotyledons in abrasive emery roller mills to improve esculent properties. In the process of husk removal, milling byproduct, mixture of husk and cotyledon powder, is generated, which is usually utilized as low value cattle feed. The milling byproduct contains bioactive compounds useful for human health. In the study biochemical properties of two mungbean cultivars, namely, Shikha and Virat, were evaluated for whole, dal milling byproduct and its fractions, to explore using milling byproduct of mungbean for potential edible usages. Methods: In this study, mungbean cultivars were milled in abrasive roller after water soaking pre-milling treatment. Milling byproduct was fractionated into three particle sizes, i) greater than 1.0 mm, ii) greater than 0.125 mm and iii) less than 0.125 mm. Biochemical components, viz, protein, phenols, antioxidant activity and calorific values were estimated for whole grain, dehusked split (Dal), milling byproduct and its fractions for the two selected mungbean cultivars. Result: The protein content was observed to be high in split dal and powder fraction ( less than 0.125 mm) of milling byproduct. Antioxidant value and phenolic compound were higher in the byproduct fraction retained over greater than 1.00 mm sieve size due to presence of husk in this fraction. Calorific value of byproduct was higher than that of whole seed, dal and byproduct fractions. The study indicates that the mungbean milling byproduct, with beneficial bioactive component can be utilize to develop value added edible products of therapeutic and health benefits.