Investor Presentation

San's“Ot La3 r Limited Regd. & Corp. Office : “Sanstar House” Nr. Parimal Under Bridge, Opp. Suvidha Shopping Centre, Paldi, Ahmedabad — 380007. Gujarat (India) Phone : +91 79-26651819 /20 / 21 CIN : L10621GJ1982PLC072555 E-Mail : sanstar@sanstar.in Website : www.sanstar.in Date: 06t November, 2026 7To, To, BSE Limited, National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, G Block, Dalal Street, Bandra-Kurla Complex, Mumbai — 400 001 Bandra (E), Mumbai - 400 051 Scrip Code: 544217 Symbol - SANSTAR Dear Sir/Madam, Subject: Submission of Press Release Pursuant to regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirement) Regulation 2015, and in continuation of our disclosure made from time to time, we hereby submit the enclosed Press Release and Earnings Presentation issued by the Company with respect to the Unaudited Standalone and Consolidated Financial Results for the Second Quarter and half year ended on 30th September, 2026. Thanking you, Yours faithfully, For, SANSTAR LIMITED Fagun Harsh Shah Company Secretary & Compliance Officer Membership No.: -A62163 Factory (1) : Gulabpura. Village : Karvand, Taluka : Shirpur, Dist. : Dhule — 425 405. Maharashtra (India) (2) : “Sanstar Nagar” Sukhpar Road, Post Sukapar, Village Morgar, Taluka Bhachau. Dist. Kutch-370 020. Gujarat (India) Sanstar Limited (BSE: 544217 | NSE: SANSTAR) Q2 and H1 FY2027 Earnings Presentation Sanstar Investment Case Sanstar” India’s 2" largest in maize based specialty products and ingredient solutions manufacturer with total installed capacity of 2,350 TPA Market Leadership in India’s 2" largest in maize based specialty products exporter, with exports contributing 34% of revenues, serving 34 countries Maize-based Specialty Leadership in native starch, modified starch and derivatives for food, animal nutrition and other industries Products FY2025-26 Financials: Revenues Rs. 7,846 Mn, EBITDA Rs. 377 Mn with an 4.8% margin and PAT Rs. 345 Mn with a 4.4% margin . Two facilities: Dhule, Maharashtra (2,000 TPD) and Kutch, Gujarat (350 TPD). Combined capacity of 2,350 TPD h Strategically Located - : ) M (i Dhule has a landbank of 210 acres providing space for expansion and access to Nhava Sheva and Hazira Ports F antu act uring Kutch facility is USFDA registered and access to Mundra Port and Kandla Ports ootprin ) Both plants are Supervisory Control and Data Acquisition (SCADA) automated for efficiency, product quality, safety and flexibility ) Dhule strategically located near maize belts allows for 30% of maize requirements direct from local farmers ) - . Direct farmer buying ensures consistent quality and strong working relationships through agricultural cycles Resilient Supply Chain - ving er A duattty "9 9 onships through ag v Remaining 70% of maize requirements are through multi channels including mandis, local stock houses and traders 50,000 MT of maize storage silos at Dhule ) . - Maize based product portfolio through wet milling process: Native Starch, Modified Starches and Derivatives h Diversified Across . o . R . . End industries: Food, Beverage, Pharma, Paper, Textile, Adhesives and Industrials Products, Ingredients - . . o ) Wet milling process by-products portfolio end industries: animal nutrition and food and Customers R ) ) ) ) ) I ) Entrenched relationships with leading blue chip Indian and international clients ) IPO proceeds of Rs. 1,816 million allocated to Dhule expansion to 2,000 TPD. Total capacity from 1,100 to 2,350 TPD Capacity Expansion Expansion in two phases: Native Starch manufacturing plant commissioned and Derivatives facility to be commissioned in FY2026-27 for Future Growth Short term Native Starch pricing pressure due to Chinese exports into South East Asia and resulting excess supply in India However, long term favorable industry drivers: import restrictions, rising India demand, Maize sourcing barriers and customer qualification Sanstar Business Overview Sanstar” India’s #2 Maize Based Spe Ity Products Manufacturer — 2,350 TPD Capacity Food / Personal Care Kutch, Gujarat Paper 350 TPD Pharma (Dhule 2) Wet Milling Process Industrial Products Industrial Dhule, Maharashtra (1) Yellow Dextrin White Dextrin Food (Dhule 2) 750 TPD Oxidized Starch Cationic Starch Wet Milling Process i 3 Pregel Starch [ Maize i ® Derivatives Products i Local Farmers (30%) i Food i Distributors (70%) i Dhule, Maharashtra (2) Maltodextrin Powder Pharma 1,250 TPD Liquid Glucose Fermentation Dextrose Anhydrous* Wet Milling Process (Commissioned) Dried Glucose Solids Liquid Dextrose Derivatives . Native Starch Dextrose Monohydrate (FY2026-27) B odiied Starch Co Products Food Derivatives 1 i 2,350 TPD Germ Animal Nutrition E Total Capacity Gluten Maize Steep Liquor *Dextrose Anhydrous is an upcoming product and Animal Nutrition will be produced as part of the ongoing expansion N e e e Fiber Enriched Protein Q2 and H1 FY2027 Key Financial Performance Sanstar’ - - - Q2 FY2027 Q2 FY2027 Q2 FY2027 Rs. 2,183 Mn Rs. 708 Mn Rs. 83 Mn +11.1% YoY 32.4% Margin 3.8% Margin N N N H1 FY2027 H1 FY2027 H1 FY2027 Rs. 4,244 Mn Rs. 1,397 Mn Rs. 237 Mn 15.9% YoY 32.9% Margin 5.6% Margin N - - * EBITDA excludes other income Q2 FY2027 Results Commentary S fi‘*" ) ansiar Commenting on the performance Mr. Gouthamchand Chowdhary, Chairman and Managing Director said: “The second quarter of FY2027 marked a period of continued improvement in Sanstar's operating performance, with stable plant operations and the benefits of higher manufacturing capacity becoming visible in the financial results. While the native starch market continues to remain competitive due to global pricing dynamics, the Company is benefiting from improved operating efficiencies, a larger manufacturing scale and a wider product portfolio. During Q2 FY2027, Revenue from Operations was Rs. 2,183 million, growing 11.1% YoY compared to Q2 FY2026. Gross Profit for the quarter was Rs.708 million, with a margin of 32.4% as compared to 24.8% in Q2 FY26. For H1 FY2027, Revenue from Operations reached Rs. 4,244 million, while Gross Profit for the period was Rs. 1,397 million. The gross profit margin expanded to 32.9% as against 24.5% in H1 FY2026. The export business continued to contribute to the Company's operations during Q2 FY2027. Export turnover for the quarter was Rs. 755 million, compared with Rs. 645 million in Q2 FY2026, representing a growth of 17.1% YoY. Export turnover for H1 FY2027 reached Rs. 1,478 million. The increase in export turnover during the quarter was supported by steady demand from overseas customers and the Company's established presence across international markets. Improved geopolitical conditions and easing of regional uncertainties have also supported export shipments and market activity during the quarter. During the quarter, the Company also commissioned its 3 MW captive solar power plant at Kutch, Gujarat. The project was undertaken with an investment of approximately Rs. 75 Million. The plant is expected to meet approximately 40% of the Kutch facility's total electricity requirement and is expected to generate annual power cost savings of around Rs. 30 Million. This capacity adds to the existing solar and biogas based power capacity at Dhule, further strengthening the Company's renewable energy footprint and supporting its focus on reducing power costs. From an industry perspective, the Indian starch and starch derivatives market is expected to grow over the medium term. Growth is supported by increasing adoption of clean label and specialty starches across food and beverage categories, rising pharmaceutical applications and higher usage of starch based ingredients across industrial sectors. Looking ahead, the Company is entering the second half of FY2027 with expanded capacities, stable plant operations and a wider product portfolio. Sanstar remains focused on improving utilization of its manufacturing facilities, [Showing first 8,000 characters — download PDF for full document]