Sayaji Industries Limited has announced a strategic partnership with France's Nigay SAS to enter the caramel manufacturing business through a 50:50 joint venture. The collaboration will establish a state-of-the-art caramel production facility in Ahmedabad, marking a significant expansion into specialty food ingredients.

Joint Venture Structure and Objectives

The partnership brings together Sayaji Industries' operational expertise with Nigay SAS's technical knowledge in caramel production. The joint venture targets high-growth emerging markets across multiple regions, capitalizing on increasing demand for caramel products in various food applications.

Market Opportunity and Applications

The venture addresses rising demand across multiple food categories where caramel products serve as key ingredients. The partnership positions both companies to capture growth opportunities in expanding markets through localized production capabilities.

Key Application Sectors:

• Beverages industry
• Flavours and fragrances
• Bakery products
• Ready-to-consume food categories

Management Commentary

Priyam Mehta, Chairman and Managing Director of Sayaji Industries Limited, emphasized the strategic importance of the initiative: "The new caramel manufacturing plant will be set up in Ahmedabad. With our prior experience and Nigay's technical expertise in caramel, we are confident of building a high quality and scalable operation. This initiative reflects our increasing focus on niche products and strong customer support will enhance our profitability profile over the long term."

Company Profiles

Sayaji Industries Limited, founded in 1941, operates as a leading corn wet milling and specialty ingredients group with established presence in starch and starch derivatives, spray dried food powders, and functional ingredients. The company serves diverse industries across food, industrial, and pharmaceutical sectors with operations spanning India and international markets.

Nigay SAS brings 170 years of expertise to the partnership, having been founded in 1855 as a family-owned French company. The company specializes in manufacturing various grades of caramel products including caramel colours, aromatic caramels, burnt sugars, and caramel specialties, serving customers from artisans to industrial manufacturers across beverages, confectionery, bakery, and other food segments globally.

Sayaji Industries has appointed TIL Advisors Private Limited as its Investor Relations Agency, effective from January 22, 2026. The company made this announcement in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointment Details

The appointment involves TIL Advisors Private Limited taking on the role of providing comprehensive Investor Relations Consulting Services to Sayaji Industries Limited. The agreement became effective on January 22, 2026, marking a strategic move to enhance the company's investor communication capabilities.

Strategic Objectives

The appointment aims to achieve two primary objectives for Sayaji Industries Limited:

• Strengthening investor communication framework: The partnership will focus on improving the overall structure and effectiveness of how the company communicates with its investors
• Enhancing engagement with investment community: TIL Advisors will work to foster better relationships and more meaningful interactions with current and potential investors

Company Information

Sayaji Industries Limited, incorporated under CIN L99999GJ1941PLC000471, operates from its facility at Maize Products, Chinubhai Nagar, P.O. Kathwada, Ahmedabad – 382430, Gujarat, India. The company is listed on BSE Limited with script code 540728.

Official Communication

The appointment was officially communicated to BSE Limited through a digitally signed document by Mr. Vishnu H Thaker, who serves as the Company Secretary & Compliance Officer (ACS-60441) for Sayaji Industries Limited. The formal notification ensures compliance with regulatory requirements for disclosure of material events.