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:

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.

Sanstar Limited has fulfilled its regulatory obligations by submitting the mandatory certification under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the fourth quarter and year ended March 31, 2026. The company filed the necessary documentation with both major stock exchanges on April 13, 2026.

Regulatory Compliance Details

The certification process involved coordination between Sanstar Limited and its Registrar and Share Transfer Agent, MUFG Intime India Private Limited (formerly Link Intime India Private Limited). The confirmation certificate was issued on April 3, 2026, addressing the company's compliance with depository regulations.

Share Transfer Operations Confirmation

MUFG Intime India Private Limited confirmed that all securities received from depository participants for dematerialization during the quarter ended March 31, 2026 were properly processed. The registrar verified that securities comprised in the certificates have been listed on stock exchanges where the company's earlier issued securities are already listed.

Key confirmations provided by the registrar include:

• Securities received for dematerialization were confirmed or rejected within prescribed timelines
• Security certificates were mutilated and cancelled after due verification
• Depository names were substituted in the register of members as registered owners
• All processes followed regulatory guidelines for share transfer operations

Stock Exchange Filings

Company Secretary and Compliance Officer Fagun Harsh Shah submitted the certification to both BSE Limited and National Stock Exchange of India Limited. The documentation ensures transparency in the company's share transfer operations and maintains compliance with SEBI regulations governing depositories and participants.

Corporate Governance Framework

This certification represents part of Sanstar Limited's ongoing commitment to regulatory compliance and corporate governance standards. The quarterly reporting mechanism ensures continuous monitoring of share transfer activities and maintains investor confidence in the company's operational transparency.

The certification process demonstrates the company's adherence to established protocols for handling dematerialized shares through India's primary depository systems, supporting efficient and secure share transfer operations for investors.