Sayaji Industries
- Market cap
- ₹ 253 Cr.
- P/E
- 11x
- P/B
- 2.87x
- 52-week range
- 97.35 – 125.95
- ROE
- 2%
- ROCE
- 8%
- Dividend yield
- 0%
- Debt / equity
- 2.45
- Sector
- Agricultural Food & other Products
- Industry
- Other Agricultural Products
- Listed on
- NSE, BSE
About
Sayaji Industries Limited is an India-based manufacturer of maize starch and its derivatives. The Company's segments include Agro Processing-Maize, Agri Seeds and Spray Dried Food Products. The Company is engaged in the business of manufacturing starches, modified starches as well as other derivatives like liquid glucose, dextrose monohydrate, dextrose anhydrous, sorbitol and its bye-products like maize oil, maize gluten. It is engaged in the manufacturing of spray dried food products, such as tomato powder and other vegetable and fruit-based powders, nondairy creamer and other such spray dried products. The Company's products have applications in various industries, such as textile, pharmaceutical, food and beverage, paper and packaging, confectionary, soap and detergent, and seed. Its liquid glucose product is used in food products, such as jams, jellies, chewing gums and canned fruits to prevent spoilage. The Company's subsidiary is Sayaji Seeds LLP.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Other Agricultural Products: 90 companies →Sayaji Industries against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)11 against a typical 14.5: cheaper than most peers (1st = cheapest).30th of 88
- Sales growth+5.9% against a typical +19.1% from a year earlier.43rd of 68
- Size₹ 252.8 Cr. market value against a typical ₹ 63 Cr. (1st = largest).20th of 85
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Look closer
Rated BB+ by CARE- CARE lowered its rating on 25 Nov 2025.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CARE | CARE BB+ | Positive | 8 Sep 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 8 Sep 2026 | ▲ Outlook raised | CARE BB+ Outlook Stable → Positive | — | CARE | ₹ 257.3 Cr. | |
| 23 Jun 2026 | ▲ Outlook raised | CARE BB+ Outlook Negative → Stable | — | CARE | ₹ 257.3 Cr. | |
| 25 Nov 2025 | ▼ Downgrade | CARE BB+ | — | CARE | ₹ 257.3 Cr. |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 221 | 245 | 265 | 273 | 215 | 269 | 247 | 272 | 249 | 283 | 268 | 288 |
| Expenses | 218 | 241 | 270 | 272 | 233 | 262 | 249 | 269 | 252 | 268 | 245 | 270 |
| Operating Profit | 3 | 4 | −5 | 2 | −18 | 7 | −2 | 3 | −2 | 15 | 23 | 18 |
| OPM % | 1.2% | 1.7% | −1.9% | 0.6% | −8.3% | 2.7% | −0.9% | 1.3% | −0.9% | 5.3% | 8.6% | 6.1% |
| Other Income | 2 | 2 | 2 | 2 | 31 | 1 | 2 | 2 | 1 | 1 | 3 | 3 |
| Interest | 4 | 4 | 4 | 4 | 4 | 5 | 5 | 6 | 6 | 7 | 6 | 6 |
| Depreciation | 4 | 4 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Profit before tax | −3 | −2 | −12 | −5 | 4 | −2 | −11 | −5 | −13 | 5 | 15 | 9 |
| Tax % | −66.7% | −12.7% | −33.1% | −44.8% | 85.5% | −36.7% | −27.1% | −30.2% | −26.2% | 21.8% | 25.1% | 21.6% |
| Net Profit | −1 | −2 | −8 | −3 | 1 | −1 | −8 | −4 | −9 | 4 | 11 | 7 |
| EPS in Rs | −0.46 | −0.77 | −3.09 | −1.14 | 0.23 | −0.47 | −3.06 | −1.52 | −3.67 | 1.37 | 4.44 | 2.78 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 8%
- 5 Years
- 14%
- 3 Years
- 1%
- TTM
- 9%
- 10 Years
- −10%
- 5 Years
- −39%
- 3 Years
- 17%
- TTM
- 202%
- 10 Years
- —
- 5 Years
- 13%
- 3 Years
- 36%
- TTM
- —
- 10 Years
- 1%
- 5 Years
- −6%
- 3 Years
- −16%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Sayaji Industries | ₹ 110.99 | ₹ 253 Cr. | 11x | 2.9x | 2% | — |
| Nestle India | ₹ 1,173.45 | ₹ 2,26,278 Cr. | 81.5x | 54.1x | 76.3% | 15.1% |
| Britannia Industries | ₹ 4,547.80 | ₹ 1,09,542 Cr. | 51.3x | 25.8x | 53.6% | 13.3% |
| Tata Consumer Products | ₹ 960.00 | ₹ 95,010 Cr. | 67.6x | 5x | 7.4% | 8.1% |
| Godrej Industries | ₹ 918.00 | ₹ 30,884 Cr. | 35.7x | 4.1x | 11.6% | 10.9% |
| Patanjali Foods | ₹ 351.00 | ₹ 38,193 Cr. | 19x | 2.8x | 14.8% | 4.5% |
Management
- Priyam Bipin Mehta
- Chairman of the Board, Managing Director
- Varun Priyam Mehta
- Joint Chief Executive Officer, Executive Director
- Vishal Priyam Mehta
- Joint Chief Executive Officer, Executive Director
- Nilesh Arvind Pandya
- Chief Financial Officer
- Vishnu Harjivanbhai Thaker
- Compliance Officer, Company Secretary
- Amit Shah
- Whole - Time Director Technical
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