About
Sayaji Industries Limited, together with its subsidiaries, engages in the manufacture and sale of starches, modified starches, and other derivatives in India and internationally. The company operates through Agro Processing-Maize; Agri Seeds; and Spray Dried Food Products segments. It offers modified starches; other derivative products, including liquid glucose, dextrose monohydrate, dextrose anhydrous, and sorbitol; and other by-products, such as maize oil and maize gluten. The company's products are used in textiles, pharmaceuticals, food and beverages, paper and packaging, confectionary, soaps and detergents, and seeds industries. It also involves in manufacturing spray dried food products, including tomato powder; vegetable and fruit-based powders; non-dairy creamer; and other spray dried products. In addition, the company engages in the processing and sale of seeds; marketing services; and investment activities. Sayaji Industries Limited was incorporated in 1941 and is based in Ahmedabad, India.
Key Metrics
as of Sep 2026Market Cap305 Cr
P/E24.50
Div Yield0.00 %
Book Value₹36.70
52w High₹147.00
52w Low₹65.00
Face Value₹5.00
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 | 263.48 | 258.75 | 260.14 | 239.26 | 248.88 | 240.85 | 252.33 | 206.37 | 258.01 | 257.67 | 232.76 | 213.86 | 232.23 |
| Expenses | 247.33 | 235.49 | 246.21 | 242.07 | 246.80 | 243.40 | 245.78 | 224.90 | 257.19 | 263.16 | 229.18 | 211.79 | 229.15 |
| Operating Profit | 16.15 | 23.26 | 13.93 | -2.81 | 2.08 | -2.55 | 6.55 | -18.53 | 0.82 | -5.49 | 3.58 | 2.07 | 3.08 |
| OPM % | 6.13 | 8.99 | 5.35 | -1.17 | 0.84 | -1.06 | 2.60 | -8.98 | 0.32 | -2.13 | 1.54 | 0.97 | 1.33 |
| Other Income | 3.46 | 3.39 | 1.78 | 1.37 | 2.48 | 5.56 | 0.24 | 30.44 | 0.69 | 5.43 | 0.74 | 0.16 | 1.02 |
| Depreciation | 5.31 | 5.24 | 5.18 | 5.07 | 4.80 | 4.92 | 4.83 | 4.62 | 4.52 | 4.38 | 4.01 | 3.80 | 3.67 |
| Interest | 5.89 | 5.97 | 6.23 | 5.96 | 5.35 | 5.30 | 4.87 | 4.11 | 3.87 | 3.73 | 3.49 | 3.31 | 2.82 |
| Profit before tax | 8.41 | 15.44 | 4.30 | -12.47 | -5.59 | -7.21 | -2.91 | 3.18 | -6.88 | -8.17 | -3.18 | -4.88 | -2.39 |
| Tax % | 20.69 | 23.32 | 18.37 | -26.94 | -32.74 | -40.22 | -24.40 | 113.52 | -34.45 | -47.49 | -10.06 | -47.54 | -33.47 |
| Net Profit | 6.67 | 11.83 | 3.52 | -9.11 | -3.76 | -4.31 | -2.20 | -0.44 | -4.51 | -4.30 | -2.87 | -2.56 | -1.59 |
| EPS in Rs | 2.64 | 4.68 | 1.39 | -3.60 | -1.49 | -1.70 | -0.87 | -0.17 | -1.78 | -1.70 | -1.13 | -1.01 | -0.63 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,007.00 | 958.00 | 937.00 | 1,006.00 | 764.00 | 537.00 | 620.00 | 621.00 | 579.00 | 531.00 | 491.00 | 468.00 |
| Expenses | 971.00 | 970.00 | 932.00 | 986.00 | 717.00 | 487.00 | 602.00 | 593.00 | 553.00 | 510.00 | 470.00 | 440.00 |
| Operating Profit | 36.00 | -13.00 | 5.00 | 20.00 | 47.00 | 50.00 | 18.00 | 28.00 | 27.00 | 20.00 | 22.00 | 28.00 |
| OPM % | 3.60 | -1.30 | 0.50 | 1.90 | 6.00 | 9.00 | 2.90 | 4.50 | 4.60 | 3.90 | 4.40 | 6.00 |
| Other Income | 9.00 | 36.00 | 6.00 | 14.00 | 5.00 | 3.00 | 4.00 | 26.00 | 3.00 | 5.00 | 1.00 | 1.00 |
| Interest | 24.00 | 18.00 | 13.00 | 10.00 | 10.00 | 13.00 | 16.00 | 12.00 | 12.00 | 11.00 | 11.00 | 8.00 |
| Depreciation | 20.00 | 19.00 | 16.00 | 14.00 | 12.00 | 11.00 | 11.00 | 9.00 | 8.00 | 9.00 | 8.00 | 7.00 |
| Profit before tax | 1.00 | -14.00 | -19.00 | 9.00 | 30.00 | 29.00 | -5.00 | 33.00 | 10.00 | 5.00 | 4.00 | 13.00 |
| Tax % | -57.00 | -17.00 | -39.00 | 21.00 | 36.00 | 42.00 | -56.00 | 24.00 | 39.00 | 28.00 | 27.00 | 29.00 |
| Net Profit | 2.00 | -11.00 | -11.00 | 7.00 | 19.00 | 17.00 | -2.00 | 25.00 | 6.00 | 4.00 | 3.00 | 9.00 |
| EPS in Rs | 0.92 | -4.53 | -4.47 | 2.85 | 7.45 | 6.56 | -0.92 | 9.96 | 2.43 | 65.50 | 45.50 | 156.83 |
| Dividend Payout % | 0.00 | 0.00 | 0.00 | 9.00 | 3.00 | 4.00 | 0.00 | 5.00 | 19.00 | 30.00 | 36.00 | 15.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 13.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 0.79 | 0.79 | 0.79 |
| Reserves | 81.00 | 89.00 | 101.00 | 113.00 | 107.00 | 91.00 | 74.00 | 77.00 | 54.00 | 52.00 | 47.00 | 46.00 |
| Borrowings | 212.00 | 216.00 | 162.00 | 115.00 | 97.00 | 129.00 | 131.00 | 136.00 | 113.00 | 106.00 | 102.00 | 91.00 |
| Other Liabilities | 204.00 | 186.00 | 247.00 | 166.00 | 168.00 | 118.00 | 123.00 | 94.00 | 73.00 | 73.00 | 85.00 | 61.00 |
| Total Liabilities | 510.00 | 493.00 | 513.00 | 396.00 | 375.00 | 341.00 | 331.00 | 310.00 | 243.00 | 231.00 | 235.00 | 199.00 |
| Fixed Assets | 312.00 | 299.00 | 297.00 | 246.00 | 241.00 | 208.00 | 201.00 | 199.00 | 149.00 | 133.00 | 130.00 | 115.00 |
| CWIP | 4.00 | 22.00 | 11.00 | 22.00 | 3.00 | 9.00 | 10.00 | 4.00 | 4.00 | 3.00 | 2.00 | 3.00 |
| Investments | 30.00 | 25.00 | 20.00 | 16.00 | 11.00 | 10.00 | 7.00 | 5.00 | 5.00 | 2.00 | 1.00 | 2.00 |
| Other Assets | 163.00 | 148.00 | 185.00 | 112.00 | 119.00 | 113.00 | 113.00 | 103.00 | 85.00 | 93.00 | 102.00 | 79.00 |
| Total Assets | 510.00 | 493.00 | 513.00 | 396.00 | 375.00 | 341.00 | 331.00 | 310.00 | 243.00 | 231.00 | 235.00 | 199.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 45.00 | -39.00 | 35.00 | 21.00 | 77.00 | 35.00 | 46.00 | 26.00 | 34.00 | 21.00 | 20.00 | 19.00 |
| Cash from Investing Activity | -19.00 | 4.00 | -60.00 | -28.00 | -34.00 | -21.00 | -24.00 | -35.00 | -29.00 | -12.00 | -22.00 | -32.00 |
| Cash from Financing Activity | -27.00 | 35.00 | 25.00 | 7.00 | -43.00 | -14.00 | -22.00 | 10.00 | -5.00 | -9.00 | 2.00 | 13.00 |
| Net Cash Flow | -1.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Free Cash Flow | 26.00 | -36.00 | -24.00 | -7.00 | 43.00 | 16.00 | 26.00 | -35.00 | 7.00 | 10.00 | -2.00 | -13.00 |
| CFO/OP % | 124.00 | 305.00 | 748.00 | 119.00 | 173.00 | 77.00 | 262.00 | 111.00 | 136.00 | 108.00 | 93.00 | 89.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 19.00 | 23.00 | 22.00 | 16.00 | 24.00 | 30.00 | 28.00 | 23.00 | 23.00 | 25.00 | 25.00 | 29.00 |
| Inventory Days | 33.00 | 36.00 | 59.00 | 27.00 | 43.00 | 58.00 | 42.00 | 43.00 | 39.00 | 44.00 | 56.00 | 35.00 |
| Days Payable | 78.00 | 73.00 | 113.00 | 60.00 | 90.00 | 93.00 | 83.00 | 50.00 | 36.00 | 48.00 | 70.00 | 55.00 |
| Cash Conversion Cycle | -26.00 | -14.00 | -33.00 | -17.00 | -23.00 | -6.00 | -13.00 | 16.00 | 26.00 | 22.00 | 12.00 | 8.00 |
| Working Capital Days | -66.00 | -63.00 | -51.00 | -30.00 | -29.00 | -50.00 | -53.00 | -36.00 | -39.00 | -32.00 | -29.00 | -22.00 |
| ROCE % | 8.00 | -8.00 | -2.00 | 5.00 | 18.00 | 19.00 | 4.00 | 12.00 | 13.00 | 11.00 | 10.00 | 18.00 |
Corporate Actions
6 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Bonus | 07 Oct 2025 | 07 Oct 2025 | 3:1 | — | |
| Dividend | 29 Jul 2022 | — | — | 1.00 | |
| Dividend | 09 Sep 2021 | — | — | 1.00 | |
| Dividend | 08 Aug 2019 | — | — | 2.00 | |
| Split | 27 Dec 2018 | 28 Dec 2018 | 10:5 | — | |
| Dividend | 02 Aug 2018 | — | — | 3.75 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update23 Jun from care
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Rating update25 Nov 2025 from care
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Rating update6 Jun 2025 from care
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Rating update6 Jun 2024 from care
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Rating update19 Feb 2024 from care
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Rating update5 Jul 2023 from care