I've tested and this works for me.
$simpleProduct = $this->getProduct();
if ($this->getProduct()->getTypeId() == 'configurable') {
foreach ($_item->getQuote()->getAllItems() as $simpleItem){
if ($simpleItem->getParentItemId() == $_item->getId()){
$simpleProduct = $simpleItem->getProduct();
break;
}
}
}
$stockItem = Mage::getModel('cataloginventory/stock_item')->loadByProduct($simpleProduct);
$min_sale_qty = (int)$stockItem->getData('min_sale_qty');
$total_qyt = (int)$stockItem->getQty();
?>
<select name="cart[<?php echo $_item->getId() ?>][qty]">
<?php for($i = $min_sale_qty; $i <= $total_qyt; $i = $i + $min_sale_qty) : ?>
<option value="<?php echo $i?>" <?php echo ($i == $this->getQty())? "selected=selected": ""; ?>>
<?php echo $i?>
</option>
<?php endfor;?>
</select>
Enjoy :)