1. India Stocks

  2. •

    Process industries

  3. •

    Chemicals: specialty
Sayaji Industries Limited

Sayaji Industries Limited

100.80
INR
-4.39
(-4.17%)
4.88EPS
Sayaji Industries Limited
NSE:SAYAJIIND
(National Stock Exchange of India)

Recent

price

100.80

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
INR
124.7
144.45
187.39
196.53
185.15
199.02
209.29
230.81
253.31
251.53
220.24
313.24
411.04
385.15
396.81
423.14
430.46
Revenue per Share
1.22
1.21
2.81
2.64
3.72
1.67
2.05
2.94
9.97
-0.93
6.54
7.46
2.86
-4.64
-4.44
0.54
4.81
Basic EPS, GAAP
6.29
1.71
-1.29
5.33
-5.33
-0.57
2.92
-2.36
9.01
8.23
5.97
15.05
-5.88
-8.7
-26.11
7.12
- -
Free Cash Flow per Basic Share
0.18
0.36
0.36
0.42
0.55
0.89
0.71
0.8
0.56
0.62
- -
0.25
0.25
- -
- -
- -
- -
Dividend per Share
41.24
44.64
54.2
62.56
73.85
88.5
93.84
101.27
127.26
121.65
148.34
174.79
183.06
163.78
144.79
36.67
- -
Book Value per Share
41.24
44.64
54.2
62.56
72.21
86.77
92.41
100.07
125.64
119.77
145.86
172.16
180.83
162.54
143.1
35.99
- -
Tangible Book Value per Share
25
25
25
25
25
25
25
25
25
25
25
25
25
25
25
25
25
Basic Weighted Avg Shares
3,152
3,652
4,737
4,968
4,681
5,031
5,291
5,835
6,404
6,359
5,568
7,919
10,391
9,737
10,031
10,697
10,879
Sales/Revenue/Turnover
3.87
3
3
3.91
4.42
3.19
2.22
3.25
3.09
1.3
7.12
4.51
0.63
-0.99
-2.91
2.04
2.93
Operating Margin (%)
46
52
61
64
71
81
87
84
100
115
118
128
148
165
194
206
211
Depreciation Expense
31
31
71
67
94
42
52
74
252
-23
165
189
72
-117
-112
14
122
Net Income, GAAP
46.18
35.96
- -
42.44
29.16
29.37
23.14
33.6
23.86
- -
41.98
35.82
17.72
- -
- -
- -
21.09
Effective Tax Rate (%)
0.98
0.84
1.5
1.34
2.01
0.84
0.98
1.27
3.94
-0.37
2.97
2.38
0.69
-1.2
-1.12
0.13
1.12
Profit Margin (%)
-220
-213
-149
-205
-263
-348
-429
-588
-588
-851
-670
-543
-759
-1,223
-1,525
-1,695
- -
Working Capital
216
263
312
254
371
386
318
347
582
477
526
659
643
894
830
665
- -
LT Debt
261
282
343
395
467
559
594
648
813
771
939
1,106
1,190
1,068
949
960
- -
Total Equity
- -
8.3
- -
10.66
12.2
7.8
6.1
7.25
15.1
- -
10.2
10.16
5.15
- -
- -
- -
- -
Return on Invested Capital (%)
- -
8.84
- -
10.85
12.53
8.07
8.58
8.85
16.29
- -
10.7
11.35
7.26
- -
- -
- -
- -
Return on Capital (%)
- -
11.3
22.74
18.07
21.84
8.21
8.97
12.03
34.9
-2.98
19.37
18.48
6.38
-10.7
-11.5
1.49
- -
Return on Common Equity (%)

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
1,605
- -
LT Borrowings
- -
600
- -
LT Finance Leases
- -
65
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
25
25
25
Market Capitalization
- -
- -
- -

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
2,000
- -
Cash, Cash Equivalents & STI
- -
34
- -
Accounts Receivable, Net
- -
632
- -
Inventories
- -
988
- -
Total Current Liabilities
- -
3,695
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
1,605
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.25%
1.01%
1.08%
Free Cash Flow
-117.76%
26.75%
-127.25%
Net Income, GAAP
-103.51%
-85.34%
-112.21%
Sales/Revenue/Turnover
8.89%
15.36%
6.64%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
2,733
2,148
2,693
2,466
10,031
2026
2,720
2,493
2,829
2,676
10,697
2027
2,881
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
-1.14
0.24
-0.47
-3.06
-4.44
2026
-1.52
-3.67
1.37
4.33
0.54
2027
2.78
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
2027
- -
- -
- -
- -
- -
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Business
Sayaji Industries Limited, established in 1941 and headquartered in Ahmedabad, India, manufactures maize starch and its downstream derivatives including sorbitol, liquid glucose, high maltose corn syrup, dextrose monohydrate, dextrose anhydrous, modified starches, corn steep liquor, gluten meal and maize oil; it also produces spray-dried food products such as cheese powder, fat powders, gum arabic, tomato powder, beet root powder and other vegetable/fruit powders through its spray drying operations. The company operates primarily through its Agro Processing-Maize, Agri Seeds and Spray Dried Food Products segments, serving industries including textiles, paper and packaging, pharmaceuticals, food and beverages, confectionery, cosmetics, paints, animal nutrition and foundry with products that provide functionalities like sizing, thickening, stabilizing, binding and sweetening; its manufacturing facility at Kathwada, Ahmedabad, supports a maize grinding capacity exceeding 930 tons per day as of 2025. Geographically, Sayaji Industries generates the majority of sales from India with exports to regions including Africa and the Middle East via offices in Mumbai, Delhi, Chennai, Kolkata and Dubai; subsidiaries include wholly-owned Sayaji Ingritech Limited, Sayaji Industries FZC and Sayaji Seeds LLP, with the latter two focused on ingritech operations and seed production respectively. Recent developments encompass the incorporation of wholly-owned subsidiary Sayaji Ingritech Limited to expand into specialized functional ingredients; ongoing grinding capacity expansions from 850 tons per day alongside equipment modernization to enhance product quality and yield; and an investment of AED 1.49 million in Sayaji Industries FZC for business growth in 2023, alongside a memorandum of understanding between Sayaji Ingritech LLP and France-based Alland & Robert for potential collaboration in gum arabic and related products.