Sayaji Industries returned to profitability in the first quarter of FY27, reporting a net profit after tax (PAT) of ₹7 crore, a significant turnaround from the ₹4 crore loss recorded in Q1FY26. The Ahmedabad-based corn wet milling and specialty food ingredients group posted revenue from operations of ₹288 crore, marking a 6% increase year-on-year and an 8% rise quarter-on-quarter. This performance underscores the company’s ability to navigate inflationary pressures while maintaining volume growth.

The filing, submitted pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, highlights a robust expansion in operating margins. EBITDA surged 287% year-on-year to ₹21 crore, with the EBITDA margin widening by 532 basis points to 7.3%. Gross profit also saw a sharp recovery, increasing 52% year-on-year to ₹93 crore, pushing the gross margin up by 968 basis points to 32.2%. These figures reflect improved pricing power and operational efficiency amidst a challenging cost environment.

Financial Performance Overview

Despite the strong bottom-line recovery, sequential comparisons show some moderation. EBITDA declined 19% quarter-on-quarter to ₹21 crore from ₹26 crore in Q4FY26, while PAT fell 33% sequentially to ₹7 crore from ₹11 crore. Finance costs remained stable at ₹6 crore, and depreciation stood at ₹5 crore for the quarter.

What the Numbers Show

The most striking aspect of Sayaji Industries’ Q1FY27 results is the divergence between revenue growth and margin expansion. While revenue grew modestly by 6%, gross margins expanded by nearly 10 percentage points year-on-year. This suggests that the company successfully passed on input cost increases to customers. Priyam Mehta, Chairman and Managing Director, noted an average sales price increase of 3-4% during the quarter. The ability to maintain healthy volumes while raising prices indicates strong demand elasticity in its core starch and specialty ingredients segments, allowing the company to offset higher energy and logistics costs without sacrificing market share.

Operational Updates and Outlook

Management attributed the cost pressures to general food inflation, higher energy costs, and logistics inflation. However, end-product prices remained buoyant across the board. On the exports front, logistics to the Middle East faced challenges due to elevated freight costs and geopolitical tensions in West Asia. To mitigate this, the company has opened alternate shipping routes and is focusing on new export markets, including the United States, alongside healthy visibility from domestic markets.

Capex projects are progressing on schedule. The Technology Modernisation and Automation Project is approximately 95% complete in terms of machinery delivery, with installation underway and commissioning expected by September 2026. Additionally, civil works for the Alland & Sayaji Gum Arabic Spray-Drying Plant #2 and the Nigay & Sayaji Caramel Colours Plant are slated to begin in Q3FY27, contingent on monsoon conditions. These investments are projected to yield significant long-term cost savings.

Sayaji Industries has appointed Niravkumar C Mistry as its Chief Financial Officer, effective August 8, 2026. The Board of Directors approved the appointment during its meeting held on August 7, 2026. This leadership change strengthens the company’s financial management team with a seasoned professional experienced in fund raising and debt capital markets.

The appointment was disclosed pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing also references Chapter V-A of SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Vishnu H Thaker, Company Secretary & Compliance Officer, submitted the intimation to BSE Limited on August 7, 2026.

Profile of New CFO

Niravkumar C Mistry is a seasoned finance professional with more than 20 years of experience. His expertise spans fund raising, working capital management, debt capital markets, mergers and acquisitions, strategy, and finance and accounts. He holds a Post Graduate Diploma in International Business (IIFT), a PGDBA, and a PGDCA.

Prior to joining Sayaji Industries, Mistry worked with several large corporates, including Megha Engineering & Infrastructure Ltd, Arvind Ltd, Adani Group, and Reliance Industries Ltd. The disclosure states there are no relationships between directors requiring further disclosure under the relevant regulations.

Key Details of Appointment

The company did not disclose specific remuneration details in this filing. The appointment marks a key addition to Sayaji Industries’ senior management team, leveraging Mistry’s extensive background in corporate finance and strategic management.