Sanstar Ltd
P&L
Quarterly Standalone
vs Q4 FY25
Sanstar Q1 FY26: Revenue from Operations at Rs. 1,689 Million, Gross Profit at Rs. 404 Million
18 Aug 2025 · 18 Aug 2025, 05:19 pm
Summary
Sanstar Ltd, a leading producer of maize-based specialty products and ingredient solutions in India, has announced its unaudited financial results for Q1 FY26. The company reported Revenue from Operations at Rs. 1,689 Million and Gross Profit at Rs. 404 Million, with a margin of 23.9%. The quarter was marked by a challenging business environment due to short-term pricing pressure in the native starch segment and a 24-day annual maintenance program at both the plants.
Key Highlights
- 1
Completed ~24 days of annual boiler and other maintenance shutdown at each of the plants
- 2
Cash Profit of Rs. 20 Million
- 3
Expansion plan at the Dhule facility to be completed with capacity set to increase from 750 TPD to 1,750 TPD
- 4
Global trade headwinds expected to ease
- 5
China’s approach to exports expected to normalize, leading the way for a recovery in native starch pricing in India
- 6
Maize, the key raw material, shows a positive outlook with higher cultivated areas and Government releasing maize inventories
Management Comments
Mr. Gouthamchand Chowdhary
Chairman and Managing Director
For the first quarter of FY2026, Sanstar reported Revenue from Operations of Rs. 1,689 million and Gross Profit of Rs. 404 million, with a margin of 23.9% (+315 bps compared with Q4 FY25). The Company faced a challenging business environment due to short-term pricing pressure in the native starch segment. This was primarily driven by increased Chinese native starch exports into Southeast Asia, resulting in excess supply and lower pricing in the Indian market. Additionally, Sanstar undertook a ~24 day annual maintenance program of its boilers at both the plants during a relatively low demand quarter. As a result, both plants with a combined installed capacity of 1,100 TPD, were non-operational during this time, resulting in lower production volumes which led to no revenue generation for close to a month. With the maintenance program now behind us, operations have been normalized and no further scheduled downtime and production loss is expected over the next three quarters.
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