About
Sanstar Limited manufactures and sells plant-based specialty products and ingredient solutions in India and internationally. It provides liquid glucose products, dried glucose solids, maltodextrin powders, dextrose monohydrates, native starches, modified starches, and co-products, such as germs, gluten, fiber, and enriched protein products, and others. The company also offers native maize starch, adhesives, high maltose corn syrup, corn gluten meal, sorbitol, corn fiber and gluten feed, corn germs, corn steep liquor, and maize gluten meal. Its products are used for food, pharma, paper, industrial, animal nutrition, and cosmetics applications. It also exports its products. The company also operates solar power plant. The company was formerly known as Continental Papers Limited and changed its name to Sanstar Limited in April 2012. Sanstar Limited was incorporated in 1982 and is based in Ahmedabad, India.
Key Metrics
as of Sep 2026Market Cap2,226 Cr
P/E50.60
Div Yield0.00 %
Book Value—
52w High₹138.00
52w Low₹74.30
Face Value₹2.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 206.16 | 216.78 | 201.76 | 196.43 | 169.66 | 226.92 | 220.05 | 205.58 | 302.67 | 255.61 | 269.28 | 248.84 | 304.36 |
| Expenses | 190.78 | 197.43 | 183.87 | 195.08 | 170.59 | 226.80 | 201.26 | 194.12 | 275.25 | 231.82 | 241.95 | 225.23 | 281.34 |
| Operating Profit | 15.38 | 19.35 | 17.89 | 1.35 | -0.93 | 0.12 | 18.79 | 11.46 | 27.42 | 23.79 | 27.33 | 23.61 | 23.02 |
| OPM % | 7.46 | 8.93 | 8.87 | 0.69 | -0.55 | 0.05 | 8.54 | 5.57 | 9.06 | 9.31 | 10.15 | 9.49 | 7.56 |
| Other Income | 2.77 | 3.23 | 2.93 | 2.48 | 3.14 | 5.31 | 6.36 | 3.60 | 0.96 | 2.80 | 6.49 | 4.98 | 0.53 |
| Depreciation | 5.26 | 2.49 | 2.40 | 2.39 | 2.35 | 2.63 | 2.26 | 3.39 | 3.17 | 3.03 | 2.19 | 4.43 | 2.44 |
| Interest | 0.34 | -0.35 | 0.57 | 0.52 | 0.63 | 0.82 | 1.43 | 1.61 | 3.69 | 2.71 | 2.46 | 2.86 | 2.70 |
| Profit before tax | 12.55 | 20.44 | 17.85 | 0.92 | -0.77 | 1.98 | 21.46 | 10.06 | 21.52 | 20.85 | 29.17 | 21.30 | 18.41 |
| Tax % | 26.61 | -0.24 | 23.42 | 31.52 | -55.84 | -178.79 | 33.55 | 25.25 | 23.33 | 22.49 | 25.03 | 30.52 | 23.36 |
| Net Profit | 9.21 | 20.49 | 13.67 | 0.63 | -0.34 | 5.52 | 14.26 | 7.52 | 16.50 | 16.16 | 21.87 | 14.79 | 14.11 |
| EPS in Rs | 0.46 | 1.12 | 0.75 | 0.03 | -0.02 | 0.30 | 0.78 | 0.41 | 1.17 | 1.15 | 1.56 | 5.01 | 4.78 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Sales | 785.00 | 953.00 | 1,110.00 | 760.00 | 504.00 | 317.00 | 261.00 |
| Expenses | 747.00 | 897.00 | 1,012.00 | 688.00 | 464.00 | 280.00 | 243.00 |
| Operating Profit | 38.00 | 56.00 | 98.00 | 71.00 | 40.00 | 37.00 | 19.00 |
| OPM % | 4.80 | 6.00 | 9.00 | 9.00 | 8.00 | 12.00 | 7.00 |
| Other Income | 12.00 | 18.00 | 14.00 | 1.00 | 0.00 | 0.00 | 0.00 |
| Interest | 1.00 | 8.00 | 11.00 | 9.00 | 9.00 | 12.00 | 11.00 |
| Depreciation | 10.00 | 11.00 | 12.00 | 9.00 | 9.00 | 9.00 | 7.00 |
| Profit before tax | 38.00 | 55.00 | 90.00 | 54.00 | 22.00 | 17.00 | 1.00 |
| Tax % | 10.00 | 20.00 | 26.00 | 24.00 | 28.00 | 15.00 | 167.00 |
| Net Profit | 34.00 | 44.00 | 67.00 | 41.00 | 16.00 | 14.00 | -1.00 |
| EPS in Rs | 1.89 | 2.40 | 4.75 | 13.81 | 5.40 | 4.77 | -0.24 |
| Dividend Payout % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Equity Capital | 36.00 | 36.00 | 28.00 | 30.00 | 30.00 | 30.00 | 30.00 |
| Reserves | 657.00 | 623.00 | 226.00 | 96.00 | 56.00 | 40.00 | 26.00 |
| Borrowings | 20.00 | 27.00 | 128.00 | 81.00 | 85.00 | 102.00 | 112.00 |
| Other Liabilities | 89.00 | 71.00 | 146.00 | 49.00 | 37.00 | 26.00 | 39.00 |
| Total Liabilities | 803.00 | 758.00 | 528.00 | 257.00 | 207.00 | 197.00 | 207.00 |
| Fixed Assets | 424.00 | 192.00 | 202.00 | 160.00 | 133.00 | 140.00 | 148.00 |
| CWIP | 11.00 | 88.00 | 20.00 | 1.00 | 3.00 | 1.00 | 0.00 |
| Investments | 28.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 340.00 | 478.00 | 305.00 | 95.00 | 71.00 | 56.00 | 58.00 |
| Total Assets | 803.00 | 758.00 | 528.00 | 257.00 | 207.00 | 197.00 | 207.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 90.00 | 39.00 | 30.00 | 53.00 | 30.00 | 30.00 | 8.00 |
| Cash from Investing Activity | -178.00 | -175.00 | -38.00 | -34.00 | -4.00 | -2.00 | -3.00 |
| Cash from Financing Activity | -9.00 | 253.00 | 5.00 | -13.00 | -25.00 | -29.00 | -4.00 |
| Net Cash Flow | -97.00 | 118.00 | -3.00 | 5.00 | 0.00 | -1.00 | 1.00 |
| Free Cash Flow | -56.00 | -51.00 | -8.00 | 18.00 | 25.00 | 29.00 | 5.00 |
| CFO/OP % | 238.00 | 108.00 | 39.00 | 81.00 | 89.00 | 81.00 | 44.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Debtor Days | 44.00 | 39.00 | 39.00 | 20.00 | 29.00 | 24.00 | 44.00 |
| Inventory Days | 28.00 | 29.00 | 50.00 | 8.00 | 12.00 | 24.00 | 25.00 |
| Days Payable | 19.00 | 9.00 | 42.00 | 12.00 | 17.00 | 15.00 | 49.00 |
| Cash Conversion Cycle | 53.00 | 59.00 | 47.00 | 15.00 | 24.00 | 32.00 | 20.00 |
| Working Capital Days | 73.00 | 71.00 | 29.00 | 10.00 | 11.00 | 21.00 | -14.00 |
| ROCE % | 6.00 | 12.00 | 34.00 | 33.00 | 18.00 | 17.00 | — |
Corporate Actions
No corporate actions recorded.
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update6 Apr from care
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Rating update7 Apr 2025 from care
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Rating update7 Jun 2024 from care
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Rating update26 Mar 2024 from care
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Rating update28 Jun 2023 from crisil
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Rating update8 Jun 2023 from crisil