BSECompany Update2d ago · 18 Aug 2026, 07:06 pm
Press Release with respect to Standalone and Consolidated Financial Results for the First Quarter Ended on 30th June, 2026
Sanstar Ltd · 544217
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Sanstar Ltd has announced its Q1 FY2027 financial results, with revenue from operations at Rs. 2,062 million, a 21.5% YoY increase, and gross profit at Rs. 689 million, a 67.4% YoY increase. The company has also completed a strategic investment by Ingredion Inc., which acquired a 9% equity stake in Sanstar Ltd through a preferential allotment of Rs. 198.27 crore.
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Sanstar Ltd - 544217 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
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Sansat r'
Limited
Regd. & Corp. Office : “Sanstar House” Nr. Parimal Under Bridge, C)pp. Suvidha Shopping Centre, Paldi,
Ahmedabad – 380007. Gujarat (India) Phone : +91 79-26651819 /20 / 21 Fax : +91 79-26651822
CIN : U15400G J1982PLC072555 E-Mail : sanstar@sanstar.in Website : www.sanstar.in
Date: 18th August, 2026
To, To
BSE Limited National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, G Block,
DalaI Street, Bandra-Kurla Complex
Mumbai 400 001 Bandra (E), Mumbai – 400 051
Scrip Code: 544217 S lbol - SANSTAR
Dear Sir/Madam,
Subject: Submission of Press Release
Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015, and in continuation of our disclosures 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 First Quarter ended on 30th June, 2026.
You are requested to take the same on your records.
Thanking you,
Yours faithfully,
For, Sanstar Limited
Fagun Harsh Shah
Company Secretary & Compliance Officer
Membership No: (ACS-62163)
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)
Q1 FY2027 Press Release
Q1 FY27 Revenue from Operations at Rs. 2,062 Million
Q1 FY27 Gross Profit at Rs. 689 Million, up 67.4% YoY with a margin of 33.4%
Q1 FY27 EBITDA at Rs. 154 Million, with a margin of 7.5%
Q1 FY27 PAT at Rs. 92 Million, with a margin of 4.5%
Ahmedabad, 18th August 2026: Sanstar Limited (“Sanstar” or the “Company”) (BSE: 544217 |
NSE: SANSTAR), one of the largest producers of maize-based specialty products and
ingredient solutions in India, has announced its unaudited financial results for the quarter ended
30th June 2026.
Consolidated Financial Performance:
Rs. Million Q1 FY27 Q1 FY26 Y-o-Y Q4 FY26 Q-o-Q
Revenue from Operations 2,062 1,697 21.5% 2,168 (4.9)%
Gross Profit 689 412 67.4% 745 (7.5)%
Gross Margin% 33.4% 24.3% 34.4%
EBITDA 154 (9) nm 194 (20.5)%
EBITDA Margin% 7.5% (0.5)% 8.9%
PBT 126 (8) nm 204 (38.6)%
PBT Margin% 6.1% (0.4)% 9.4%
PAT 92 (3) nm 205 (55.1)%
PAT Margin% 4.5% (0.2)% 9.5%
EPS 0.50 (0.02) 1.12
Highlights for Q1 FY27:
• Revenue from exports for Q1 FY27 was Rs. 723 million, compared to Rs. 580 million in Q1
FY26, with a increase of 24.5% YoY
• Completed strategic investment by Ingredion Inc. which acquired 9.0% equity stake Sanstar
Limited through preferential allotment of Rs. 198.27 Crore
Q1 FY2027 Press Release
Commenting on the performance Mr. Gouthamchand Chowdhary, Chairman and
Managing Director said:
“The first quarter of FY2027 marked a period of improved operating performance for Sanstar,
with normalized plant operations and higher production. Additionally, the Company also
completed a key phase of its capacity expansion at Dhule during the quarter.”
Revenue from Operations was Rs. 2,062 million, an increase of 21.5% YoY. Gross Profit
increased to Rs. 689 million from Rs. 412 million in Q1 FY26, with Gross Profit Margin
improving to 33.4% from 24.3%. EBITDA was Rs. 154 million, translating into an EBITDA
Margin of 7.5% and PAT for the quarter was Rs. 92 million. The ongoing conflict in the Middle
East led to an increase in energy costs, which impacted margins during the quarter.
Export revenue increased 24.5% YoY to Rs. 723 million during the quarter. Higher plant
availability and normalized production supported the Company’s ability to cater to demand
across international markets. While the native starch market remains competitive, the pricing
pressure has moderated. The Company remains focused on deepening its presence across
existing markets and increasing export volumes as utilization of the expanded capacity
improves.
A key operational development during the quarter was the commissioning of the expanded
native starch manufacturing capacity at Dhule. The Company had originally planned to add
1,000 TPD of capacity and was able to scale the addition to 1,250 TPD. This has increased
Sanstar’s total installed manufacturing capacity from 1,100 TPD to 2,350 TPD. Furthermore,
The derivatives facility at Dhule is expected to be commissioned during FY2026-27. The
expanded manufacturing base, along with the upcoming derivatives capacity, will enable the
Company to increase its participation across value added starch based products and cater to a
wider range of applications across different industries.
Another important development was the completion of the preferential allotment to Corn
Products Development Inc., a subsidiary of Ingredion Incorporated. The Company raised
approximately Rs. 1,983 Million through the issue, with Corn Products Development Inc holding
approximately 9% of Sanstar Limited following the allotment. The partnership provides Sanstar
access to Ingredion’s global R&D infrastructure, technical expertise and formulation
capabilities. The investment also strengthens the Company’s balance sheet to support capacity
expansion and diversification into value added specialty products, while enhancing its ability to
engage with global customers.
As part of its focus on reducing operating costs, the Company commissioned a 3 MW solar
power plant at Kutch in August 2026 at an investment of approximately Rs. 7.5 crore. The plant
will be used entirely for captive consumption and is expected to meet around 40% of the Kutch
facility’s electricity requirement, resulting in annual power cost savings of approximately Rs. 3
crore. This capacity is in addition to the existing 3.5 MW solar power and 1.6 MW biogas based
power capacity at Dhule, increasing the share of renewable energy across the Company’s
operations.
Looking ahead, the Company’s focus is on gradually ramping up utilization of the expanded
Dhule capacity and commissioning the derivatives facility. Sanstar will also focus towards
increasing the contribution from value added products, expanding its presence across domestic
and export markets and maintaining discipline on operating costs. The expanded
manufacturing base and strategic association with Ingredion provide a broader platform for the
Company’s next phase of growth.”
Q1 FY2027 Press Release
India’s #2 Maize-Based Specialty Products Manufacturer - 2,350 TPA Capacity
Local Farmers (30%)
Distributors (70%)
Dhule, Maharashtra (2)
Kutch, Gujurat Dhule, Maharashtra (1)
1,250 TPD
350 TPD 750 TPD
Wet Milling Process
Wet Milling Process Wet Milling Process
Derivates FY2026-27
Native Starch Modified Starch Derivatives
Co Products
Products Products Products
• Meltodextrin Powder • Gluten • Germ
• YellowDextrin
• Fiber
• Liquid Glucose
• Oxidized Starch
• Maize
• White Dextrin • Liquid Dextrose Steep Liquor
• Dextrose • Enriched
• Cationic Starch
Monohydrate Protein
• Pregel Starch
• Dextrose Anhydrous*
• Dried Glucose Solids
Animal Nutrition Food
Food
Food / Personal Care Industrial
Pharma
Paper Food (Dhule 2)
Fermentation
Pharma (Dhule 2)
Industrial
Q1 FY2027 Press Release
About Sanstar:
Sanstar Limited is one of India's leading corn based specialty products and ingredient
solutions companies, engaged in the manufacture of starch, glucose, modified
starches, dextrose and other corn derivatives. Sanstar operates state of the art
manufacturing facilities and serves a diverse range of industries including food and
beverage, pharmaceuticals, animal nutrition, paper, and textiles. Sanstar is committed
to sustainable, responsible manufacturing and consistently investing in technology led
growth. Recently, Sanstar commissioned its new facility at Dhule plant, taking the total
installed capacity from 1,100 TPD to 2,350 TPD of processing maize based specialty
products.
For more details, please visit: https://sanstar.in/
Fagun Shah Abhishek Dakoria / Tahir Khinchi
Company Secretary
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