The present invention relates to synergistic fungicidal compositions of bioactive amounts of Metalaxyl M and one more agrochemically active ingredients selected from Coumethoxystrobin, Dimoxystrobin, Metominostrobin, Pyrametostrobin and Trifloxystrobin. The present invention also relates to process for preparing the said compositions comprising bioactive amounts of Metalaxyl M and one or more agrochemically active ingredients along with at least one inactive excipient.