Investor Presentation

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) Sanstar Limited (BSE: 544217 | NSE: SANSTAR) Q1 FY2027 Earnings Presentation Sanstar Investment Case • India’s 2nd largest in maize based specialty products and ingredient solutions manufacturer with total installed capacity of 2,350 TPA Market Leadership in • India’s 2nd 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 Strategically Located • Dhule has a landbank of 210 acres providing space for expansion and access to Nhava Sheva and Hazira Ports Manufacturing • Kutch facility is USFDA registered and access to Mundra Port and Kandla Ports Footprint • 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 • 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 Diversified Across • End industries: Food, Beverage, Pharma, Paper, Textile, Adhesives and Industrials Products, Ingredients • Wet milling process by-products portfolio end industries: animal nutrition and food and Customers • 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 India’s #2 Maize Based Specialty Products Manufacturer – 2,350 TPD Capacity Native Starch Products Food / Personal Care Kutch, Gujarat Paper 350 TPD Pharma (Dhule 2) Wet Milling Process Industrial Modified Starch Products Industrial Dhule, Maharashtra (1) YellowDextrin WhiteDextrin Food (Dhule 2) 750 TPD OxidizedStarch CationicStarch Wet Milling Process PregelStarch Maize Derivatives Products Local Farmers (30%) Food Dhule, Maharashtra (2) Distributors (70%) Maltodextrin Powder Pharma 1,250 TPD Liquid Glucose Fermentation Dextrose Anhydrous* Wet Milling Process (Commissioned) Dried Glucose Solids LiquidDextrose Derivatives Native Starch DextroseMonohydrate (FY2026-27) Modified Starch Co Products Food Derivatives 2,350 TPD Germ Animal Nutrition Total Capacity Gluten Maize Steep Liquor Animal Nutrition *Dextrose Anhydrous is an upcoming product and Fiber EnrichedProtein will be produced as part of the ongoing expansion Q1 FY2027 Key Financial Performance Revenue Gross Profit EBITDA* Q1 FY2027 Q1 FY2027 Q1 FY2027 Rs. 2,062 Mn Rs. 689 Mn Rs. 154 Mn +21.5% YoY 33.4% Margin 7.5% Margin FY2026 FY2026 FY2026 Rs. 7,846 Mn Rs. 2,362 Mn Rs. 377 Mn (17.7)% YoY 30.1% Margin 4.8% Margin * EBITDA excludes other income Q1 FY2027 Results Commentary 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 cror [Showing first 8,000 characters — download PDF for full document]