Sanstar Ltd
We are one of the major manufacturers of plant based speciality products and ingredient solutions in India for food, animal nutrition and other industrial applications, with an installed capacity of 1,100 metric tons per day.
- Market Cap ₹ 2,100 Cr.
- Current Price ₹ 115
- High / Low ₹ 121 / 74.3
- Stock P/E 61.0
- Book Value ₹ 38.1
- Dividend Yield 0.00 %
- ROCE 5.69 %
- ROE 5.09 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is almost debt free.
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Tax rate seems low
- Company has a low return on equity of 10.9% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 261 | 317 | 504 | 760 | 1,110 | 953 | 785 | |
| 243 | 280 | 464 | 688 | 1,012 | 897 | 747 | |
| Operating Profit | 19 | 37 | 40 | 71 | 98 | 56 | 38 |
| OPM % | 7% | 12% | 8% | 9% | 9% | 6% | 5% |
| 0 | 0 | 0 | 1 | 14 | 18 | 12 | |
| Interest | 11 | 12 | 9 | 9 | 11 | 8 | 1 |
| Depreciation | 7 | 9 | 9 | 9 | 12 | 11 | 10 |
| Profit before tax | 1 | 17 | 22 | 54 | 90 | 55 | 38 |
| Tax % | 167% | 15% | 28% | 24% | 26% | 20% | 10% |
| -1 | 14 | 16 | 41 | 67 | 44 | 34 | |
| EPS in Rs | -0.24 | 4.77 | 5.40 | 13.81 | 4.75 | 2.40 | 1.89 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 20% |
| 3 Years: | 1% |
| TTM: | -18% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 20% |
| 3 Years: | -5% |
| TTM: | -22% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 23% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 13% |
| 3 Years: | 11% |
| Last Year: | 5% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 30 | 30 | 30 | 30 | 28 | 36 | 36 |
| Reserves | 26 | 40 | 56 | 96 | 226 | 623 | 657 |
| 112 | 102 | 85 | 81 | 128 | 27 | 20 | |
| 39 | 26 | 37 | 49 | 146 | 71 | 89 | |
| Total Liabilities | 207 | 197 | 207 | 257 | 528 | 758 | 803 |
| 148 | 140 | 133 | 160 | 202 | 192 | 424 | |
| CWIP | 0 | 1 | 3 | 1 | 20 | 88 | 11 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 28 |
| 58 | 56 | 71 | 95 | 305 | 478 | 340 | |
| Total Assets | 207 | 197 | 207 | 257 | 528 | 758 | 803 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 8 | 30 | 30 | 53 | 30 | 39 | 90 | |
| -3 | -2 | -4 | -34 | -38 | -175 | -178 | |
| -4 | -29 | -25 | -13 | 5 | 253 | -9 | |
| Net Cash Flow | 1 | -1 | 0 | 5 | -3 | 118 | -97 |
| Free Cash Flow | 5 | 29 | 25 | 18 | -8 | -51 | -56 |
| CFO/OP | 44% | 81% | 89% | 81% | 39% | 108% | 238% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 44 | 24 | 29 | 20 | 39 | 39 | 44 |
| Inventory Days | 25 | 24 | 12 | 8 | 50 | 29 | 28 |
| Days Payable | 49 | 15 | 17 | 12 | 42 | 9 | 19 |
| Cash Conversion Cycle | 20 | 32 | 24 | 15 | 47 | 59 | 53 |
| Working Capital Days | -14 | 21 | 11 | 10 | 29 | 71 | 73 |
| ROCE % | 17% | 18% | 33% | 34% | 12% | 6% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Installed Maize Crushing Capacity TPA |
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| Export Presence (Number of Countries) count |
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| Composite Capacity Utilization % |
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| Customer Base count |
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| Dhule Facility Utilization % |
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| Kutch Facility Utilization % |
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| Total Production Volume MT |
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| Total Sales Volume MT |
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| Maize Procurement Price (Average) Rs/Kg |
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| Maize Storage Capacity (Silos) MT |
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Extracted by Screener AI
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
1m - Preferential Issue and Joint Venture Press Release
-
Announcement under Regulation 30 (LODR)-Preferential Issue
5h - Board approved ₹198.27 crore preferential issue to Corn Products Development, capital hike to ₹50 crore, EGM 20 June 2026.
-
Announcement under Regulation 30 (LODR)-Amendments to Memorandum & Articles of Association
5h - Board approved ₹198.26 crore preferential issue to Corn Products, capital increase, and JV agreement with Ingredion.
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Board Meeting Outcome for Outcome Of The Board Meeting Held Today I.E. Thursday, 28Th May, 2026
5h - Board approved ₹198.26 crore preferential issue, capital increase, special rights, JV agreement, and EGM on June 20, 2026.
- Announcement under Regulation 30 (LODR)-Investor Presentation 1d
Market Leadership[1]
Sanstar is set to become India’s #2 manufacturer of maize-based specialty products and ingredient solutions post Dhule expansion. Its installed capacity will rise from 1,100 TPD to 2,100 TPD, and is India’s second-largest exporter of maize-based specialty products.