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Sanstar IPO

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WEBSITE Inc. Year: 1982 Industry: Consumer Food Listed Page

Profile
Issue Size --
Profile
Price Range 90  to  95 per share
Profile
Min Investment ₹95
Profile
Lot Size 1
Profile
Face Value ₹2
Profile
Draft Prospectus --
Invest Before the IPO Goes Live

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Profile
  • Basic Info
  • IPO Tentative Timetable
  • IPO Lot Size
  • Subscription Status
  • Financials
  • Profit & Loss
  • Balance Sheet
  • Cash Flow
  • Ratios
  • Growth Rates
  • Other info

Overview

Sanstar Limited, a prominent player in the Indian market, stands as a leading manufacturer of plant-based specialty products and ingredient solutions. With extensive expertise and a robust infrastructure, the company operates state-of-the-art manufacturing facilities located strategically in Dhule, Maharashtra, and Kutch, Gujarat. Boasting an impressive installed capacity of 1,100 metric tons per day, Sanstar specializes in transforming maize into a diverse array of products that enhance taste, texture, and functionality across various sectors. Their product portfolio includes essential ingredients such as liquid glucose, dried glucose solids, maltodextrin powder, dextrose monohydrate, native and modified starches, along with co-products like germs, gluten, fiber, and enriched protein. These offerings cater to a wide range of applications, spanning food (including bakery, confectionery, sauces, and desserts), animal nutrition, and diverse industrial uses (such as excipients, supplements, and coating agents). Sanstar Limited prides itself on its technological prowess and more than six decades of combined promoter experience, enabling the company to deliver tailored solutions that meet specific nutritional and functional requirements. With a robust domestic and global clientele, Sanstar continues to uphold its position as the third largest manufacturer of maize-based specialty products in India, driven by a commitment to quality, innovation, and customer satisfaction. Read More

Basic Info

Face Value 2 per share

Price 90  to  95 per share

P/E (x) 36.5

Sales( Cr.) 953

PAT( Cr.) 44

EPS 2.6

Draft Prospectus --

Exchange BSE-NSE

Promoter

Company Promoters

Gouthamchand Sohanlal Chowdhary Sambhav Gautam Chowdhary Shreyans Gautam Chowdhary

Pre Issue Share Holding 72.27%

Post Issue Share Holding 56.07%

Listing Details:

Listing Price: 106.4

Listing Gain: 10.71%

Current Price: 118.3

Gain On Issue: 118.3 | 0%

GMP: --

GMP %: -- %

IPO Tentative Timetable

Opening Date Jul 19, 2024
Closing Date Jul 23, 2024
Allotment Jul 24, 2024
Refund Jul 25, 2024
Delivery of Shares Jul 25, 2024
Listing Date Jul 26, 2024

IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 150 14,250
Retail (Max) 14 2100 199,500
S-HNI (Min) 15 2250 213,750
S-HNI (Max) 70 10500 997,500
B-HNI (Min) 71 10650 1,011,750

Objective of the Issue

1. Funding the capital expenditure requirement for the expansion of the Dhule Facility 2. Repayment and/or pre-payment, in part or full, of certain borrowings availed by the Company 3. General Corporate Purposes.

Issue

Category Nos Bid Bid (x)
QIB 26850000 3911508000 145.7x
NII 8055000 1099426950 136.5x
Retail 18795000 455402850 24.2x
EMP 0 0 0x
Total 53700000 4456563000 83x

Net Sales (in cr.)

Total Income (in cr.)

Operating Profit (in cr.)

Net Profit (in cr.)

Shareholder Funds (in cr.)

Total Assets (in cr.)

Sanstar Profit & Loss

#(Fig in Cr.) Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 316 515 780 1110 953
Other Income 0 0 1 14 18
Total Income 316 515 781 1125 971
Total Expenditure 279 475 708 1012 897
Operating Profit 37 40 73 113 74
Interest 12 9 9 11 8
Depreciation 9 9 9 12 11
Exceptional Income / Expenses 0 0 0 0 0
Profit Before Tax 16 22 54 90 55
Provision for Tax 2 6 13 23 11
Profit After Tax 14 16 41 67 44
Adjustments 0 0 0 0 0
Profit After Adjustments 14 16 41 67 44
Adjusted Earnings Per Share 0.9 1.1 2.8 4.8 2.4

Sanstar Balance Sheet

#(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

Sanstar Cash Flow

#(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

Sanstar Ratios

# 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

Sihora Industries Growth Rates

# 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 26% NA% NA% NA%
ROE Average 10% 38% 39% 39%
ROCE Average 12% 31% 27% 27%

Company Contact Information

Sanstar Ltd.

Sanstar House, Near Parimal Under Bridge Opposite Suvidha Shopping Centre Paldi

IPO Lead Manager(s)

Sanstar Ltd.

Pantomath Capital Advisors Pvt Ltd.

Registrar Info

Sanstar Ltd.

Frequently Asked Questions

All You Need To Know About IPO

When you leave without vesting, generally unvested ESOPs are cancelled. Vested ESOPs usually can be exercised after you depart, often within 3 to 6 months, depending on the company's ESOP plan.

For companies listed on a stock exchange, you can sell the shares any time after you exercise the ESOP option and the shares are in your demat account. If the company is unlisted or otherwise a startup, you can only sell the shares if and when the company announces a buyback or has a process for secondary sales.

Whenever you exercised your options to hold shares, you entered into a market risk situation, and if the valuation of the company drops, so do the shares.

Yes. ESOPs are valuable to the employer in that the employer is able to retain the best talent, align employee interests with company goals, and preserve cash while rewarding performance.

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