A simple preparative route was employed to synthesize sub-micron sized Cadmium Sulphide semiconductor particles. Optical investigation and analysis of these particles were carried out using a designed and fabricated He-Ne laser based light scattering system. Scattering properties of these particles were measured at the laser wavelength of 632.8 nm as a function of the scattering angle at this wavelength. An attempt was made to experimentally determine one specific element of the Mueller scattering matrix. A novel computational technique, involving single scattering for spherical particles using Mie-theory, was developed and applied. The analysis of the experimental data was done by the method of comparison with theoretically generated data. The theoretical data was found to be in good agreement with the experimental data with minor deviations. The results validate that within an acceptable margin of experimental error, the combination of the experimental setup and associated computational method is an efficient and reliable in-situ system for monitoring size growth of sub-micron semiconductor particles in the laboratory and can be extended further to investigate and analyze other ultra small particle systems present in a given media.