The present invention relates to an emulsifier composition useful for making improved quality cakes, said emulsifier composition comprising 15.4 to 15.8 parts of Distilled glycerol monostearate (DGMS), 15.4 to 15.8 parts of Poly glycerol monostrearate (PGMS), 1.0 to 1.4 parts of Sodium stearoyl-2-lactylate (SSL), 15.4 to 15.8 parts of Polysorbate-60 (PS-60), 15.4 to 15.8 parts of Sorbitan monostearate, 0.12 to 0.16 parts of Sodium dodeceyl sulphate (SDS), 5.0 to 7.0 parts of glycerol and 0.5 to 1.5 parts of lactic acid on 100 parts of water and also a process for preparing the same.