Consumer Food · Founded 1993 · www.suryasalt.com · BSE 530461 · · ISIN INE440C01016
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1. Business Overview
Saboo Sodium Chloro Ltd. is an Indian company primarily engaged in the manufacturing and processing of common salt and other allied products. Given its sector and industry classification (Consumer Food), its core business model revolves around sourcing, purifying, packaging, and distributing various grades of salt, likely including edible salt for human consumption, industrial salt, and potentially other food-related chemical compounds. The company generates revenue by selling these salt products to both institutional clients (e.g., food processing units, chemical industries) and directly to consumers through various distribution channels.
2. Key Segments / Revenue Mix
Specific segment breakdowns and revenue contributions are not available from the provided information. However, based on the company name, its primary segments would likely include:
Edible Salt: Packaged salt for household consumption.
Industrial Salt: Salt used in various industries such as chemical, textile, water treatment, etc.
Potential: Other related food ingredients or chemicals, though salt is the most prominent.
3. Industry & Positioning
The company operates within the broader Consumer Food sector, specifically within the salt manufacturing segment in India. The Indian salt industry is characterized by a mix of organized and unorganized players. While there are large national brands, the market can also be fragmented regionally. Key success factors include efficient production, robust distribution networks, and consistent product quality. Without specific market share data, Saboo Sodium Chloro's positioning relative to larger national players or regional competitors cannot be precisely determined. It likely competes on price, quality, and distribution reach within its operational areas.
4. Competitive Advantage (Moat)
For a company primarily dealing in a commodity like salt, competitive advantages often stem from:
Cost Leadership: Efficient procurement of raw materials (brine or rock salt), low-cost production processes, and optimized logistics can provide a cost advantage.
Distribution Network: A strong and wide distribution network is crucial to reach diverse markets, especially for consumer-facing products.
Brand Recognition: For edible salt, a trusted brand built on consistent quality and availability can foster customer loyalty, although building a strong brand in a competitive market requires significant investment.
Location Advantage: Proximity to salt production sites (e.g., coastal areas for sea salt) or key consumption markets can reduce transportation costs. The extent of these advantages for Saboo Sodium Chloro is not specified.
5. Growth Drivers
Key factors that could drive Saboo Sodium Chloro Ltd.'s growth over the next 3-5 years include:
Population Growth & Urbanization: Increasing population in India naturally drives demand for essential food items like salt.
Growing Food Processing Industry: Expansion of the food processing sector in India will increase demand for industrial salt and other food ingredients.
Diversification: Expansion into adjacent product categories or value-added salt products (e.g., fortified salt, low sodium salt).
Market Penetration: Expanding distribution into new geographic regions or increasing market share in existing ones.
Export Opportunities: Tapping into international markets for salt products.
6. Risks
Commodity Price Volatility: Fluctuations in the cost of raw materials (e.g., energy, packaging) can impact margins.
Intense Competition: The salt market is competitive, leading to potential pricing pressure and difficulty in gaining market share.
Regulatory Changes: Changes in food safety standards, environmental regulations, or import/export policies can affect operations and costs.
Supply Chain Disruptions: Dependence on weather conditions for salt production (in the case of sea salt) or logistical challenges can disrupt supply.
Brand Perception & Quality Control: Any lapse in product quality or negative publicity could significantly harm consumer trust and sales, especially for edible salt.
7. Management & Ownership
Specific details regarding the promoters' background, management quality, or precise ownership structure are not provided. However, in India, many companies, particularly those of this scale, tend to be promoter-driven, where the founding family or group maintains significant ownership and management control. This typically implies a strong vested interest in the company's long-term performance but can also lead to concentration of power.
8. Outlook
Saboo Sodium Chloro Ltd. operates in a fundamental industry with consistent demand for its core product, salt. The bull case suggests that India's growing population, expanding food industry, and potential for product diversification could provide a stable growth trajectory. Efficient operations, a well-established distribution network, and strategic market expansion could enable it to capture incremental market share. The bear case, however, highlights the challenges of operating in a commodity market characterized by intense competition and potential margin pressures. Volatility in input costs, regulatory hurdles, and the ongoing need for robust quality control and supply chain management present significant operational risks. The company's future performance will largely depend on its ability to maintain cost efficiency, innovate within its product offerings, and strengthen its market presence in a competitive environment.
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| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 10 | 12 | 19 | 15 | 12 | 14 | 13 | 17 | 15 | 17 |
| Other Income | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | -0 |
| Total Income | 10 | 12 | 20 | 15 | 12 | 14 | 14 | 17 | 15 | 17 |
| Total Expenditure | 8 | 9 | 21 | 12 | 10 | 12 | 16 | 15 | 12 | 15 |
| Operating Profit | 1 | 3 | -1 | 3 | 2 | 3 | -3 | 2 | 3 | 2 |
| Interest | 0 | 0 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 2 | -2 | 2 | 1 | 1 | -4 | 1 | 2 | 1 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 0 | 2 | -2 | 2 | 1 | 1 | -4 | 1 | 2 | 1 |
| Adjustments | 0 | 0 | 0 | 0 | -0 | 0 | -0 | 0 | 0 | -0 |
| Profit After Adjustments | 0 | 2 | -2 | 2 | 1 | 1 | -4 | 1 | 2 | 1 |
| Adjusted Earnings Per Share | 0 | 0.5 | -0.4 | 0.5 | 0.2 | 0.3 | -0.9 | 0.2 | 0.6 | 0.2 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 19 | 22 | 23 | 23 | 27 | 28 | 30 | 79 | 49 | 52 | 55 | 62 |
| Other Income | 0 | 0 | 0 | 0 | 2 | 1 | 1 | 1 | 1 | 2 | 0 | 0 |
| Total Income | 20 | 22 | 23 | 23 | 29 | 29 | 31 | 80 | 50 | 53 | 55 | 63 |
| Total Expenditure | 14 | 17 | 18 | 18 | 24 | 24 | 26 | 76 | 46 | 48 | 51 | 58 |
| Operating Profit | 6 | 5 | 5 | 5 | 5 | 5 | 5 | 4 | 4 | 5 | 4 | 4 |
| Interest | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2 | 2 | 2 | 4 |
| Depreciation | 3 | 2 | 2 | 2 | 1 | 2 | 1 | 1 | 1 | 2 | 2 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
| Provision for Tax | -0 | -1 | 1 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | -0 | 0 |
| Profit After Tax | 0 | 1 | -1 | 0 | 0 | 0 | -1 | 0 | 0 | 0 | 0 | 0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | 1 | -1 | 0 | 0 | 0 | -1 | 0 | 0 | 0 | 0 | 0 |
| Adjusted Earnings Per Share | 0.2 | 0.4 | -0.2 | 0.1 | 0.1 | 0 | -0.2 | 0 | 0 | 0.1 | 0.1 | 0.1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 6% | -11% | 14% | 11% |
| Operating Profit CAGR | -20% | 0% | -4% | -4% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -35% | -10% | 18% | 8% |
| ROE Average | 1% | 0% | -0% | 1% |
| ROCE Average | 4% | 4% | 5% | 6% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 21 | 22 | 27 | 29 | 29 | 29 | 28 | 28 | 46 | 47 | 47 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 14 | 14 | 12 | 18 | 16 | 15 | 18 | 21 | 17 | 17 | 22 |
| Other Non-Current Liabilities | 1 | 1 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 |
| Total Current Liabilities | 12 | 14 | 16 | 17 | 14 | 15 | 13 | 5 | 3 | 3 | 3 |
| Total Liabilities | 48 | 51 | 56 | 66 | 61 | 62 | 63 | 58 | 69 | 69 | 75 |
| Fixed Assets | 19 | 17 | 16 | 16 | 18 | 17 | 15 | 15 | 19 | 16 | 15 |
| Other Non-Current Assets | 7 | 7 | 8 | 11 | 7 | 10 | 10 | 10 | 6 | 5 | 13 |
| Total Current Assets | 22 | 26 | 33 | 40 | 36 | 35 | 38 | 33 | 44 | 48 | 47 |
| Total Assets | 48 | 51 | 56 | 66 | 61 | 62 | 63 | 58 | 69 | 69 | 75 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 10 | 15 |
| Cash Flow from Operating Activities | 2 | -0 | 0 | 1 | 8 | 4 | -4 | 2 | -2 | 5 | -12 |
| Cash Flow from Investing Activities | -3 | 0 | -4 | -7 | -2 | -0 | 4 | -1 | -1 | 2 | -1 |
| Cash Flow from Financing Activities | 1 | -1 | 4 | 5 | -6 | -4 | -0 | 1 | 11 | -2 | 3 |
| Net Cash Inflow / Outflow | 0 | -0 | -0 | -0 | -0 | 0 | 0 | 2 | 8 | 5 | -11 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 10 | 15 | 4 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.19 | 0.38 | -0.23 | 0.07 | 0.12 | 0.03 | -0.22 | 0.01 | 0.02 | 0.05 | 0.07 |
| CEPS(Rs) | 1.35 | 1.25 | 0.49 | 0.56 | 0.58 | 0.57 | 0.25 | 0.42 | 0.36 | 0.57 | 0.51 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 8.42 | 8.81 | 8.59 | 9.02 | 9.13 | 9.17 | 8.95 | 8.96 | 11.03 | 11.08 | 11.16 |
| Core EBITDA Margin(%) | 28.72 | 23.07 | 22.09 | 21.86 | 10.11 | 14.45 | 13.47 | 4.31 | 6.86 | 6.38 | 7.73 |
| EBIT Margin(%) | 16.08 | 14.43 | 14.43 | 15.47 | 12.92 | 11.01 | 10.99 | 3.41 | 5.25 | 5.39 | 4.73 |
| Pre Tax Margin(%) | 1.93 | 1.63 | 1.72 | 1.83 | 1.78 | 0.45 | 0.65 | 0.16 | 0.52 | 1.72 | 0.31 |
| PAT Margin (%) | 2.55 | 4.31 | -2.53 | 0.91 | 1.37 | 0.37 | -2.29 | 0.03 | 0.18 | 0.44 | 0.57 |
| Cash Profit Margin (%) | 17.7 | 14.22 | 5.33 | 7.69 | 6.82 | 6.35 | 2.6 | 1.68 | 3.03 | 4.61 | 3.88 |
| ROA(%) | 1.08 | 1.93 | -1.09 | 0.35 | 0.58 | 0.17 | -1.11 | 0.04 | 0.14 | 0.33 | 0.44 |
| ROE(%) | 2.34 | 4.39 | -2.65 | 0.84 | 1.29 | 0.36 | -2.39 | 0.08 | 0.23 | 0.5 | 0.67 |
| ROCE(%) | 7.99 | 7.51 | 7.07 | 6.66 | 6.12 | 5.65 | 5.93 | 4.97 | 4.48 | 4.38 | 3.93 |
| Receivable days | 70.47 | 111.05 | 131.83 | 140.32 | 105.86 | 82.84 | 109.28 | 56.16 | 89.65 | 94.21 | 93.33 |
| Inventory Days | 104.04 | 126.93 | 167.38 | 220.92 | 203.74 | 192.28 | 203.44 | 61.59 | 77.11 | 100.43 | 116.09 |
| Payable days | 563.36 | 352.52 | 273.71 | 259.95 | 105.32 | 95.57 | 150.77 | 42.9 | 41.46 | 25.72 | 35.64 |
| PER(x) | 30.84 | 14.71 | 0 | 148.73 | 50.89 | 58.72 | 0 | 1681.62 | 816.02 | 334.24 | 232.04 |
| Price/Book(x) | 0.71 | 0.63 | 1.25 | 1.1 | 0.65 | 0.21 | 0.65 | 1.41 | 1.52 | 1.66 | 1.56 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 1.79 | 1.62 | 2.18 | 2.62 | 1.68 | 1.11 | 1.55 | 0.78 | 1.58 | 1.54 | 1.65 |
| EV/Core EBITDA(x) | 5.73 | 6.65 | 9.8 | 11.77 | 9.16 | 6.56 | 9.73 | 15.33 | 19.5 | 16.13 | 20.54 |
| Net Sales Growth(%) | 7.25 | 15.21 | 4.16 | 1.15 | 15.78 | 5.03 | 6.2 | 163.93 | -37.74 | 4.92 | 6.24 |
| EBIT Growth(%) | 58.8 | 3.38 | 4.14 | 8.46 | -3.31 | -10.51 | 6.04 | -18.05 | -4.25 | 7.78 | -6.73 |
| PAT Growth(%) | 329.84 | 94.46 | -161.06 | 136.37 | 75.14 | -71.52 | -751.55 | 103.44 | 266.53 | 166.36 | 36.5 |
| EPS Growth(%) | 329.91 | 94.44 | -161.06 | 128.85 | 75.14 | -71.52 | -751.62 | 103.46 | 174.67 | 166.5 | 36.43 |
| Debt/Equity(x) | 0.93 | 0.98 | 1.07 | 1.03 | 0.92 | 0.88 | 1 | 0.83 | 0.37 | 0.38 | 0.47 |
| Current Ratio(x) | 1.8 | 1.91 | 2.06 | 2.27 | 2.54 | 2.26 | 2.84 | 6.35 | 17.12 | 18.91 | 15.07 |
| Quick Ratio(x) | 1.27 | 1.25 | 1.31 | 1.35 | 1.54 | 1.24 | 1.5 | 4.61 | 12.5 | 12.36 | 9.16 |
| Interest Cover(x) | 1.14 | 1.13 | 1.14 | 1.13 | 1.16 | 1.04 | 1.06 | 1.05 | 1.11 | 1.47 | 1.07 |
| Total Debt/Mcap(x) | 1.3 | 1.56 | 0.68 | 0.94 | 1.41 | 4.13 | 1.53 | 0.59 | 0.24 | 0.23 | 0.3 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 47.96 | 43.05 | 47.4 | 47.4 | 47.4 | 47.4 | 47.4 | 47.4 | 47.47 | 47.52 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.08 | 0 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 |
| Public | 51.96 | 56.95 | 52.52 | 52.52 | 52.52 | 52.52 | 52.52 | 52.52 | 52.45 | 52.4 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 2.02 | 1.99 | 1.99 | 1.99 | 1.99 | 1.99 | 1.99 | 1.99 | 1.99 | 1.99 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 2.19 | 2.64 | 2.21 | 2.21 | 2.21 | 2.21 | 2.21 | 2.21 | 2.2 | 2.2 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 4.21 | 4.63 | 4.21 | 4.21 | 4.21 | 4.21 | 4.21 | 4.21 | 4.2 | 4.2 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 47.96 | 43.05 | 47.4 | 47.4 | 47.4 | 47.4 | 47.4 | 47.4 | 47.47 | 47.52 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.08 | 0 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 |
| Public | 52.04 | 56.95 | 52.6 | 52.6 | 52.6 | 52.6 | 52.6 | 52.6 | 52.53 | 52.48 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 2.02 | 1.99 | 1.99 | 1.99 | 1.99 | 1.99 | 1.99 | 1.99 | 1.99 | 1.99 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 2.19 | 2.64 | 2.21 | 2.21 | 2.21 | 2.21 | 2.21 | 2.21 | 2.21 | 2.2 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 4.21 | 4.63 | 4.21 | 4.21 | 4.21 | 4.21 | 4.21 | 4.21 | 4.2 | 4.2 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +6% | -11% | +14% | +11% |
| Operating Profit CAGR | -20% | 0% | -4% | -4% |
| PAT CAGR | — | — | — | — |
| Share Price CAGR | -35% | -10% | +18% | +8% |
| ROE Average | +1% | 0% | 0% | +1% |
| ROCE Average | +4% | +4% | +5% | +6% |
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