Annual Report of the Company for the FY 2025-26

Sanstar 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: 315t August, 2026 To, 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 Sub: Annual Report of Sanstar Limited (‘the Company’) for the Financial Year 2025-26 Dear Sir/Madam, We hereby submit, pursuant to Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Notice convening the 44t Annual General Meeting (‘AGM’) and Annual Report of the Company for the Financial Year 2025-26 of the Company. The Company has sent the Notice of the AGM along with the Annual Report for the Financial Year 2025-26, today, by electronic mode to those Members whose e-mail IDs are registered with the Depository Participants(‘DPs’) i.e. National Securities Depository Limited (‘NSDL") and Central Depository Services (India) Limited (‘CDSL’). The said Notice and the Annual Report for Financial Year 2025-26, can be downloaded from the Company’s website at www.sanstar.in. The same is also available on the websites of National Securities Depository Limited (‘'NSDL) at www.evoting.nsdl.com. You are requested to take the above information on your records. Thanking you, Yours faithfully, For, Sanstar Limited Fagun Harsh Shah Company Secretary & Compliance Officer (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) Transitioning Up the Value Chain 44th Annual Report 2025-2026 Sanstar Limited Corporate Overview | Annual Report 2025 - 26 Across the pages 1 Across the Pages Theme Note 2 Sanstar Journey About Sanstar Manufacturing Prowess Chairman & Managing Director Message Key Performance Indicators Value Creation Model 11 13 Product Portfolio & Applications Manufacturing & Supply Chain Growth Priorities ESG at Sanstar Board of Directors Corporate Information AGM Notice Directors’ Report Corporate Governance Report Management Discussion and Analysis Financial Statements Forward-Looking Statement Investor Information This document contains statements about expected future events and the CIN L10621GJ1982PLC072555 financial performance of Sanstar Limited (Sanstar) which are forward-looking in nature. By their nature, such statements require the Company to make assumptions and are subject to inherent risks and uncertainties. There is a BSE Code 544217 significant risk that assumptions, predictions and other forward-looking statements may not prove accurate. Readers are cautioned against placing NSE Symbol SANSTAR undue reliance on them, as several factors could cause assumptions and actual outcomes to differ materially from those expressed. This document is accordingly qualified in its entirety by the assumptions, qualifications and risk For more investor-related information, please visit factors referred to in the Management Discussion and Analysis section of this Annual Report. www.sanstar.in Sanstar Limited Corporate Overview | Annual Report 2025 - 26 Transitioning Up the Value Chain A kernel of maize is worth very little on its own. What it becomes and how much further up the chain it travels — is the story of Sanstar. FY 2025-26 was the year we built the means to climb. It was not an easy year. A planned shutdown and a wave of Chinese starch exports into Southeast Asia pressured pricing through the first half. But the second half told a different story — of operations steadying and margins moving the right way even as the topline stayed under pressure. Beneath the surface, every rupee of revenue was quietly earning more than it used to. Scale is what makes the climb possible. Nobody starts at the top of a value chain, you widen the base until the next rung becomes reachable, and then you reach. The same discipline showed in where we sell, as markets once concentrated where the pressure was heaviest grew more spread out through the year. There is more than one way to grow a business built on agricultural produce. We have chosen depth over breadth. One kernel. One chain. Every step upward. This year, we built the ladder taller. That is Sanstar's transition up the value chain. Sanstar Limited Corporate Overview | Annual Report 2025 - 26 About Sanstar One Kernel. One Company. Four Decades in the Making. The Company's origins trace back to 1982, carrying forward six decades of combined Promoter experience and technical expertise in maize processing. That experience underpins one of India's largest manufacturers of plant-based specialty products and ingredient solutions, built around the technical depth to engineer specific functionality and nutrition into every end product. Sanstar holds the position of India's second largest player in the maize-based specialty products category, and its second largest exporter, a standing built on decades of process knowledge translated into consistent, at-scale manufacturing. From its early years as a trading house, Sanstar moved decisively into manufacturing, then steadily expanded its footprint and capabilities to become the specialty ingredients company it is today. Each phase of this journey added a new capability — first manufacturing scale, then technical depth, then geographic reach — building the platform the Company now operates from. That platform today spans two large-volume, state-of-the-art facilities strategically located at Dhule in Maharashtra and Kutch in Gujarat, with combined installed capacity of 2,350 tonnes per day following the expansion commissioned during the year, and a footprint that reaches customers across 41 countries. SSaannssttaarr L Limimiteitded CorporateC Oorvpeorravtiee Owve |r vAienwnual ARnenpuaol rRte p2o0rt2 250 2-5 2-626 Our Vision To enhance the quality of maize based specialty products and ingredient solutions production in India and across the globe thus elevating the manufacturing process through technological innovations. Our Values Trust People Centric Customer Satisfaction Sustainability Ethical Business Practices Continuous Improvement Community Engagement At a Glance 2,350 TPD Total Installed Capacity ₹734 Cr Revenue from Operations 4 Major Product Categories 8 International Certifications Sanstar Limited Corporate Overview | Annual Report 2025 - 26 Major Milestones One Kernel, Every Milestone Upward From a trading company to a specialty ingredients manufacturer, Sanstar's growth has moved in one direction-deeper into manufacturing, technical capability and scale. Each milestone below marks a deliberate step up the value chain. 2012 The present Promoters took over the Company and it adopted the name 2008 Sanstar Limited. A dedicated Research Erstwhile Sanstar & Development Biopolymers Limited 2004-2006 Centre was also commenced export established. Erstwhile Sanstar operations. Biopolymers Limited established the Kutch 1982 facility; operations Corporate journey commenced in 2006. commenced with the incorporation of the Company. Sanstar Limited Corporate Overview | Annual Report 2025 - 26 2025-26 Commissioned the expanded 2024 starch Listed on manufacturing 2023 BSE & NSE capacity through increasing total Revenue crossed Initial Public installed capacity ₹1,100 crores; export Offer. from 1,100 TPD to operations of erstwhile 2,350 TPD. 2018 Sanstar Biopolymers Limited extended to Sanstar 49 countries; Limited Additionally, 1,000 TPD commenced 2015- capacity was initiated its own 2017 at Dhule; Erstwhile export Sanstar Biopolymers operations. Sanstar Limited Limited merged into developed the Sanstar Limited Dhule facility; [Showing first 8,000 characters — download PDF for full document]