Sanstar Q1 FY27 Revenue Up 21.5% to ₹206.2 Crore; Ingredion Invests ₹198.27 Crore
Sanstar Limited reported Q1 FY27 consolidated revenue of ₹206.2 crore, up 21.5% YoY. Gross profit increased 67.4% to ₹68.9 crore. Ingredion Inc. acquired a 9% stake for ₹198.27 crore. Capacity at Dhule doubled to 2,350 TPD. A 3 MW solar plant was commissioned for ₹7.5 crore.
The substantial strategic investment from Ingredion, coupled with a significant increase in manufacturing capacity and improved financial performance, are material events expected to have a high impact on the company's future prospects.
The company reported strong year-on-year growth in revenue and gross profit. The strategic investment from Ingredion and significant capacity expansion are positive developments for future growth.
Sanstar Limited announced its unaudited standalone and consolidated financial results for the first quarter ended June 30, 2026. The company reported a Revenue from Operations of ₹2,062 million (₹206.2 crore), an increase of 21.5% year-on-year. Gross Profit stood at ₹689 million (₹68.9 crore), up 67.4% YoY with a margin of 33.4%. EBITDA was ₹154 million (₹15.4 crore), a margin of 7.5%, and Profit After Tax (PAT) was ₹92 million (₹9.2 crore), with a margin of 4.5%.
The company saw a significant increase in export revenue, which grew by 24.5% YoY to ₹723 million (₹72.3 crore). This growth was supported by higher plant availability and normalized production.
A key development during the quarter was the completion of a strategic investment by Ingredion Inc., which acquired a 9.0% equity stake in Sanstar Limited through a preferential allotment of ₹198.27 crore. This partnership provides Sanstar access to Ingredion’s global R&D infrastructure and technical expertise.
Sanstar also completed a significant phase of its capacity expansion at its Dhule facility, increasing its total installed manufacturing capacity from 1,100 TPD to 2,350 TPD. The derivatives facility at Dhule is expected to be commissioned during FY2026-27. Additionally, the company commissioned a 3 MW solar power plant at Kutch in August 2026 with an investment of approximately ₹7.5 crore for captive consumption, expected to save ₹3 crore annually in power costs.
Mr. Gouthamchand Chowdhary, Chairman and Managing Director, commented that the quarter marked improved operating performance with normalized plant operations and higher production. He also noted that the ongoing conflict in the Middle East led to increased energy costs, impacting margins.
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