Sanstar Q4 Net Profit Surges YoY; FY26 Annual Profit at Rs 34.45 Cr

Sanstar Limited has announced its audited standalone financial results for the quarter and year ended March 31, 2026. The company reported a net profit of 205M rupees for the fourth quarter, a significant rise compared to 55M rupees in the same quarter of the previous year. On an annual basis, net profit stood at Rs 34.45 crore, while revenue from operations for the year was Rs 784.63 crore, compared to Rs 957.45 crore in the previous year.

The board meeting, held on May 23, 2026, approved the financial results, which received an unmodified opinion from statutory auditors M/s. S.C. Bapna & Associates. The board also approved the appointment of M/s. Keyur J. Shah & Associates as Secretarial Auditors and M/s. Kamal M. Shah & Co. as Internal Auditors for the financial year 2026-27, subject to shareholder approval.

Financial Performance Summary

The table below presents the key financial metrics for Q4 and the full year, along with prior year comparatives.

Metric	Q4 FY26	Q4 FY25	FY26 (Rs Cr)	FY25 (Rs Cr)
Revenue from Operations	2.2B Rupees	2.3B Rupees	784.63	957.45
Total Income	Rs 220.01 Cr	—	796.41	971.46
Total Expenses	Rs 199.57 Cr	—	757.97	916.43
Net Profit	205M Rupees	55M Rupees	34.45	43.80
Basic EPS (Rs)	1.12	—	1.89	2.58

The company noted that the implementation of new Labour Codes resulted in an increase in gratuity liability by Rs 0.67 crore, which has been presented as a non-recurring expense under employee benefits. The trading window for designated persons, which closed on April 01, 2026, will reopen 48 hours after the declaration of these results.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-6.36%	+8.74%	+21.57%	+14.96%	+17.67%	-4.96%

Sanstar Limited announced on 12th May 2026 the commissioning of its expanded native starch manufacturing capacity at its Dhule facility in Maharashtra. This development marks a significant milestone in the company's growth journey and is part of its broader capacity expansion plan funded through IPO proceeds. The entire amount of Rs. 1,816 million allocated towards the Dhule expansion has now been fully utilised.

Capacity Expansion at a Glance

With this commissioning, Sanstar has increased its total installed capacity from 1,100 TPD to 2,350 TPD, positioning itself to become one of the largest manufacturers in India's maize-based specialty products industry. The following table summarises the manufacturing footprint across Sanstar's facilities:

Facility	Capacity	Process
Kutch, Gujarat	350 TPD	Wet Milling Process
Dhule, Maharashtra (1)	750 TPD	Wet Milling Process
Dhule, Maharashtra (2)	1,250 TPD	Wet Milling Process
Total	2,350 TPD

The expansion is being implemented in two phases. While the native starch capacity has now been commissioned, the derivatives facility at Dhule is expected to be commissioned within FY2026-27.

Strategic Significance and Product Portfolio

The Dhule facility is strategically located near key maize-growing regions and major ports, providing strong logistical advantages and supporting efficient sourcing and export operations. The expanded capacity is expected to improve operational efficiencies, enhance scale benefits, and strengthen the company's ability to cater to growing domestic and international demand.

Sanstar's diverse product portfolio spans multiple categories:

Native Starch Products
Modified Starch Products: Yellow Dextrin, Oxidized Starch, White Dextrin, Cationic Starch, Pregel Starch
Derivatives Products: Meltodextrin Powder, Liquid Glucose, Liquid Dextrose, Dextrose Monohydrate, Dextrose Anhydrous, Dried Glucose Solids
Co-Products: Gluten, Fiber, Maize Steep Liquor, Enriched Protein, Germ

Based on FY25 revenues, the segment breakdown was approximately food/personal care at ~45%, animal nutrition at ~25%, and industrials/others at ~30%.

Management Commentary

Commenting on the development, Mr. Gouthamchand Chowdhary, Chairman and Managing Director, stated: "The commissioning of our expanded native starch capacity at Dhule marks an important milestone in Sanstar's growth journey. This expansion strengthens our manufacturing capabilities and enhances our ability to serve a diverse and growing customer base across industries."

He further noted that despite originally planning for a 1,000 MTPD expansion at the time of the IPO, the company has successfully scaled its installed crushing capacity to 1,250 MTPD, demonstrating strong execution capability and operational efficiency. "With the full utilization of IPO proceeds towards this project, we are now well positioned to scale our operations. The upcoming commissioning of the derivatives facility will further enhance our product portfolio, enabling us to move towards higher value-added offerings," he added.