Alternaria species are common saprophytes found in a variety of habitats as ubiquitous agents of decay. Alternaria spp. produces about sixty different secondary metabolites. In the present investigation, growth and production of pigment from Alternaria alternata was studied in maize grain extract at pH 4-9. The reddish brown pigment was extracted, estimated and partially purified by fractionation. Through mass spectrometry, major constituents of pigment from Alternaria alternata such as Tenuazoic acid (m/z 198), Stemphyperylenol (m/z 253), Alterperylenol (m/z 351), Alternariol (m/z 259.200), Altenuene (m/z 292), Alternarienoic acid (m/z 279.35) and Alternariol 5 methyl ether (m/z 273.20) were identified. The bio-prospecting of these secondary metabolites in industrial applications is also discussed.