WEBSITE BSE:544217 NSE: SANSTAR Inc. Year: 1982 Industry: Consumer Food My Bucket: Add Stock
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Sanstar Limited is a prominent manufacturer of maize-based specialty products and ingredient solutions in India, established on February 26, 1982. Product portfolio includes maize starch powder, tapioca starch powder, dextrins, modified starches, liquid glucose, high maltose corn syrup, malto dextrin, dextrose monohydrate, adhesives, corn gluten, maize germ, and more. The company's promoters Gouthamchand Sohanlal Chowdhary, Sambhav Gautam Chowdhary, and Shreyans Gautam Chowdhary, hold a significant share of the company, owning 57.22% of the iss...Read More
Sanstar Limited is a prominent manufacturer of maize-based specialty products and ingredient solutions in India, established on February 26, 1982. Product portfolio includes maize starch powder, tapioca starch powder, dextrins, modified starches, liquid glucose, high maltose corn syrup, malto dextrin, dextrose monohydrate, adhesives, corn gluten, maize germ, and more. The company's promoters Gouthamchand Sohanlal Chowdhary, Sambhav Gautam Chowdhary, and Shreyans Gautam Chowdhary, hold a significant share of the company, owning 57.22% of the issued, subscribed, and paid-up equity share capital. Sanstar Limited has a strong market presence, with operating revenues exceeding INR 500 cr for the financial year ending March 31, 2024. Sanstar Limited's manufacturing facilities are located in Dhule, Maharashtra, and Kutch, Gujarat, with an installed capacity of 3,63,000 tons annually (1,100 tons per day). ...Read Less
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Market Cap ₹1668 Cr.
Stock P/E 38.1
P/B 2.6
Current Price ₹91.5
Book Value ₹ 35.3
Face Value 2
52W High ₹107.3
Dividend Yield 0%
52W Low ₹ 74.3
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 249 | 269 | 256 | 206 | 221 | 226 | 169 | 196 | 202 |
| Other Income | 5 | 6 | 3 | 4 | 5 | 6 | 4 | 2 | 3 |
| Total Income | 254 | 276 | 258 | 209 | 226 | 232 | 173 | 199 | 205 |
| Total Expenditure | 225 | 242 | 232 | 194 | 201 | 227 | 171 | 195 | 184 |
| Operating Profit | 29 | 34 | 27 | 15 | 25 | 5 | 2 | 4 | 21 |
| Interest | 3 | 2 | 3 | 2 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 4 | 2 | 3 | 3 | 2 | 3 | 2 | 2 | 2 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 21 | 29 | 21 | 10 | 21 | 2 | -1 | 1 | 18 |
| Provision for Tax | 7 | 7 | 5 | 3 | 7 | -4 | -0 | 0 | 4 |
| Profit After Tax | 15 | 22 | 16 | 8 | 14 | 6 | -0 | 1 | 14 |
| Adjustments | 0 | 0 | -0 | 0 | 0 | -0 | 0 | 0 | 0 |
| Profit After Adjustments | 15 | 22 | 16 | 8 | 14 | 6 | -0 | 1 | 14 |
| Adjusted Earnings Per Share | 0.2 | 7.4 | 1.2 | 0.4 | 0.8 | 0.3 | -0 | 0 | 0.8 |
| #(Fig in Cr.) | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|
| Net Sales | 316 | 515 | 780 | 1110 | 953 | 793 |
| Other Income | 0 | 0 | 1 | 14 | 18 | 15 |
| Total Income | 316 | 515 | 781 | 1125 | 971 | 809 |
| Total Expenditure | 279 | 475 | 708 | 1012 | 897 | 777 |
| Operating Profit | 37 | 40 | 73 | 113 | 74 | 32 |
| Interest | 12 | 9 | 9 | 11 | 8 | 4 |
| Depreciation | 9 | 9 | 9 | 12 | 11 | 9 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 16 | 22 | 54 | 90 | 55 | 20 |
| Provision for Tax | 2 | 6 | 13 | 23 | 11 | 0 |
| Profit After Tax | 14 | 16 | 41 | 67 | 44 | 21 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 14 | 16 | 41 | 67 | 44 | 21 |
| Adjusted Earnings Per Share | 0.9 | 1.1 | 2.8 | 4.8 | 2.4 | 1.1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -14% | 23% | 0% | 0% |
| Operating Profit CAGR | -35% | 23% | 0% | 0% |
| PAT CAGR | -34% | 40% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -1% | NA% | NA% | NA% |
| ROE Average | 10% | 38% | 39% | 39% |
| ROCE Average | 12% | 31% | 27% | 27% |
| #(Fig in Cr.) | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Shareholder's Funds | 69 | 85 | 126 | 254 | 659 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 79 | 58 | 45 | 31 | 15 |
| Other Non-Current Liabilities | 11 | 11 | 19 | 32 | 34 |
| Total Current Liabilities | 37 | 59 | 71 | 219 | 58 |
| Total Liabilities | 197 | 212 | 261 | 535 | 766 |
| Fixed Assets | 140 | 133 | 160 | 202 | 192 |
| Other Non-Current Assets | 1 | 3 | 1 | 22 | 117 |
| Total Current Assets | 56 | 76 | 99 | 311 | 457 |
| Total Assets | 197 | 212 | 261 | 535 | 766 |
| #(Fig in Cr.) | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 1 | 0 | 1 | 6 | 3 |
| Cash Flow from Operating Activities | 23 | 30 | 53 | 30 | 39 |
| Cash Flow from Investing Activities | -2 | -4 | -34 | -38 | -175 |
| Cash Flow from Financing Activities | -22 | -25 | -13 | 5 | 253 |
| Net Cash Inflow / Outflow | -1 | 0 | 5 | -3 | 118 |
| Closing Cash & Cash Equivalent | 0 | 1 | 6 | 3 | 121 |
| # | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.94 | 1.08 | 2.76 | 4.75 | 2.4 |
| CEPS(Rs) | 1.55 | 1.69 | 3.4 | 5.61 | 3.03 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 2.24 | 3.32 | 6.08 | 15.49 | 34.53 |
| Core EBITDA Margin(%) | 11.74 | 7.71 | 9.17 | 8.84 | 5.87 |
| EBIT Margin(%) | 9.01 | 6.03 | 8.11 | 9.05 | 6.56 |
| Pre Tax Margin(%) | 5.2 | 4.27 | 6.91 | 8.08 | 5.77 |
| PAT Margin (%) | 4.41 | 3.09 | 5.23 | 6.01 | 4.59 |
| Cash Profit Margin (%) | 7.24 | 4.84 | 6.43 | 7.1 | 5.79 |
| ROA(%) | 7.08 | 7.78 | 17.22 | 16.77 | 6.73 |
| ROE(%) | 42.19 | 38.84 | 58.74 | 43.46 | 10.34 |
| ROCE(%) | 21.13 | 23.12 | 41.42 | 38.93 | 12.49 |
| Receivable days | 24.15 | 21.65 | 19.11 | 26.13 | 42.21 |
| Inventory Days | 16.92 | 9.67 | 5.9 | 20.81 | 32.53 |
| Payable days | 15.56 | 12.98 | 11.54 | 25.66 | 29.39 |
| PER(x) | 0 | 0 | 0 | 0 | 36.3 |
| Price/Book(x) | 0 | 0 | 0 | 0 | 2.53 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.41 | 0.22 | 0.13 | 0.14 | 1.47 |
| EV/Core EBITDA(x) | 3.49 | 2.82 | 1.44 | 1.34 | 18.96 |
| Net Sales Growth(%) | 0 | 63.19 | 51.36 | 42.4 | -14.11 |
| EBIT Growth(%) | 0 | 9.27 | 103.45 | 58.93 | -37.73 |
| PAT Growth(%) | 0 | 14.29 | 155.86 | 63.9 | -34.4 |
| EPS Growth(%) | 0 | 14.29 | 155.87 | 72.13 | -49.45 |
| Debt/Equity(x) | 3.07 | 1.74 | 0.91 | 0.59 | 0.04 |
| Current Ratio(x) | 1.5 | 1.29 | 1.4 | 1.42 | 7.87 |
| Quick Ratio(x) | 1.1 | 1.08 | 1.22 | 0.9 | 6.91 |
| Interest Cover(x) | 2.37 | 3.42 | 6.78 | 9.36 | 8.3 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0.02 |
| # | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Promoter | 70.37 | 70.37 | 70.37 | 70.38 | 70.38 | 70.38 | 70.53 |
| FII | 2.06 | 0.83 | 0.71 | 0.22 | 0.15 | 0.01 | 0.02 |
| DII | 4.25 | 4.16 | 4.04 | 2.85 | 0.86 | 0.01 | 0.3 |
| Public | 23.32 | 24.63 | 24.88 | 26.55 | 28.62 | 29.6 | 29.15 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Promoter | 12.82 | 12.82 | 12.82 | 12.83 | 12.83 | 12.83 | 12.85 |
| FII | 0.38 | 0.15 | 0.13 | 0.04 | 0.03 | 0 | 0 |
| DII | 0.77 | 0.76 | 0.74 | 0.52 | 0.16 | 0 | 0.06 |
| Public | 4.25 | 4.49 | 4.53 | 4.84 | 5.22 | 5.39 | 5.31 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 18.22 | 18.22 | 18.22 | 18.22 | 18.22 | 18.22 | 18.22 |
* The pros and cons are machine generated.
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