Sayaji Industries
SAYAJIIND NSE
Sayaji Industries
FMCGNSE: SAYAJIIND BSE: 540728 Agricultural Products
Key Fundamentals
MicrocapAgricultural ProductsFMCGMarket Cap
₹293 Cr
Volatility
High Risk
P/E Ratio
24.17
EBITDA
₹38.86 Cr
Return on Equity
-11.69%
Debt to Equity
2.44
Book Value
₹36.67
52W High
₹125
52W Low
₹106.5
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Weaknesses
3- Stock is trading at 3.24 times its book value
- Company has low interest coverage ratio.
- Company has a low return on equity of -16.4% over last 3 years.
Growth Rate
Revenue Growth
3.42% higher than
3Y
Net Income Growth
-104% lower than
3Y
Cash Flow Change
-183% higher than
3Y
ROE
7.05% higher than
3Y
ROCE
-265% lower than
3Y
EBITDA Margin (Avg.)
76.47% lower than
3Y
Quarterly Results
| Particulars | Jun 2023 | 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 | 245 | 221 | 245 | 265 | 273 | 215 | 269 | 247 | 272 | 249 | 283 | 268 | 288 |
| Expenses | 241 | 218 | 241 | 270 | 272 | 233 | 262 | 249 | 269 | 252 | 268 | 245 | 270 |
| Operating Profit | 3.72 | 2.58 | 4.15 | -5.09 | 1.57 | -17.89 | 7.19 | -2.12 | 3.45 | -2.23 | 14.95 | 22.97 | 17.68 |
| OPM % | 1.52% | 1.17% | 1.69% | -1.92% | 0.57% | -8.33% | 2.67% | -0.86% | 1.27% | -0.89% | 5.28% | 8.58% | 6.14% |
| Other Income | 1.84 | 1.66 | 1.71 | 1.97 | 2.12 | 31.37 | 1.03 | 2.03 | 2 | 1.24 | 1.42 | 3.2 | 3.42 |
| Interest | 3.28 | 3.74 | 3.9 | 4.03 | 4.26 | 4.46 | 5.06 | 5.44 | 5.7 | 6.38 | 6.53 | 6.29 | 6.38 |
| Depreciation | 3.83 | 3.95 | 4.17 | 4.54 | 4.65 | 4.75 | 4.96 | 5.05 | 4.88 | 5.14 | 5.25 | 5.32 | 5.36 |
| PBT | -1.55 | -3.45 | -2.21 | -11.69 | -5.22 | 4.27 | -1.8 | -10.58 | -5.13 | -12.51 | 4.59 | 14.56 | 9.36 |
| Tax % | -50.32% | -66.67% | -12.67% | -33.11% | -44.83% | 85.48% | -36.67% | -27.13% | -30.21% | -26.22% | 21.79% | 25.07% | 21.58% |
| Net Profit | -0.76 | -1.15 | -1.92 | -7.82 | -2.87 | 0.62 | -1.14 | -7.72 | -3.57 | -9.23 | 3.6 | 10.9 | 7.33 |
| EPS in Rs | -0.31 | -0.46 | -0.77 | -3.09 | -1.14 | 0.23 | -0.47 | -3.06 | -1.52 | -3.67 | 1.37 | 4.44 | 2.78 |
Profit & Loss
| Particulars | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 503 | 531 | 586 | 644 | 639 | 559 | 793 | 1,040 | 975 | 1,004 | 1,072 | 1,088 |
| Expenses | 479 | 511 | 559 | 614 | 620 | 508 | 745 | 1,019 | 969 | 1,014 | 1,033 | 1,035 |
| Operating Profit | 24 | 20 | 27 | 30 | 19 | 51 | 49 | 21 | 7 | -10 | 39 | 53 |
| OPM % | 4.8% | 3.8% | 4.7% | 4.6% | 2.9% | 9% | 6% | 2% | 0.7% | -1% | 3.6% | 4.9% |
| Other Income | 1 | 7 | 5 | 26 | 4 | 3 | 5 | 14 | 6 | 35 | 8 | 9 |
| Interest | 11 | 11 | 12 | 12 | 17 | 14 | 11 | 12 | 15 | 19 | 25 | 26 |
| Depreciation | 8 | 9 | 8 | 10 | 11 | 12 | 13 | 15 | 16 | 19 | 21 | 21 |
| PBT | 6 | 7 | 11 | 33 | -5 | 28 | 29 | 8 | -19 | -13 | 1 | 16 |
| Tax % | 29% | 23% | 34% | 24% | -56% | 42% | 36% | 18% | -38% | -17% | -19% | — |
| Net Profit | 4 | 5 | 7 | 25 | -2 | 17 | 19 | 7 | -12 | -11 | 2 | 13 |
| EPS in Rs | 70.17 | 86.17 | 2.94 | 9.96 | -0.92 | 6.53 | 7.46 | 2.85 | -4.64 | -4.43 | 0.56 | 4.92 |
| Div. Payout % | 23% | 23% | 16% | 5% | 0% | 4% | 3% | 9% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.79 | 0.79 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 13 |
| Reserves | 53 | 59 | 61 | 77 | 74 | 91 | 107 | 113 | 100 | 88 | 80 |
| Borrowings | 99 | 106 | 124 | 150 | 140 | 140 | 113 | 128 | 171 | 221 | 227 |
| Other Liabilities | 89 | 73 | 76 | 99 | 128 | 123 | 175 | 180 | 263 | 209 | 230 |
| Total Liabilities | 241 | 238 | 264 | 329 | 346 | 357 | 399 | 423 | 538 | 522 | 550 |
| Fixed Assets | 133 | 133 | 156 | 206 | 202 | 210 | 243 | 248 | 298 | 299 | 313 |
| CWIP | 2 | 3 | 4 | 4 | 10 | 9 | 3 | 22 | 11 | 22 | 4 |
| Investments | 0 | 8 | 9 | 0 | 3 | 5 | 6 | 11 | 15 | 19 | 23 |
| Other Assets | 106 | 95 | 96 | 119 | 131 | 133 | 147 | 143 | 214 | 181 | 210 |
| Total Assets | 241 | 238 | 264 | 329 | 346 | 357 | 399 | 423 | 538 | 522 | 550 |
Cash Flow
| Particulars | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 20 | 20 | 29 | 23 | 43 | 35 | 73 | 22 | 40 | -33 | 38 |
| Investing | -22 | -10 | -34 | -35 | -23 | -21 | -34 | -29 | -60 | 4 | -19 |
| Financing | 1 | -9 | 4 | 12 | -21 | -14 | -39 | 6 | 20 | 30 | -20 |
| Net Cash Flow | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | -1 |
| Free Cash Flow | -1 | 8 | -5 | -38 | 23 | 15 | 38 | -6 | -20 | -31 | 18 |
| CFO/OP | 90 | 103 | 114 | 95 | 233 | 75 | 159 | 117 | 583 | 328 | 98 |
Ratios
| Particulars | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 26 | 25 | 24 | 26 | 31 | 33 | 28 | 20 | 25 | 24 | 22 |
| Inventory Days | 56 | 46 | 45 | 50 | 48 | 67 | 53 | 36 | 66 | 46 | 46 |
| Days Payable | 71 | 48 | 37 | 51 | 82 | 91 | 89 | 61 | 111 | 71 | 78 |
| Cash Conversion Cycle | 12 | 23 | 32 | 25 | -4 | 9 | -7 | -5 | -20 | -1 | -11 |
| Working Capital Days | -28 | -33 | -39 | -35 | -49 | -45 | -25 | -27 | -46 | -56 | -58 |
| ROCE % | — | 11% | 13% | 12% | 4% | 19% | 18% | 5% | -1% | -8% | 8% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Sayaji Industries insights
61 extracted metrics + investor summaries across FY07–FY27.
Documents
1
Brief Profile Of Internal Auditor M/S TRS & Associates.
6 May - Board approved appointment of M/s T R S & Associates as internal auditor for FY2026-27. 6 May - Board approved appointment of M/s T R S & Associates as internal auditor for FY2026-27.
2
Announcement under Regulation 30 (LODR)-Newspaper Publication
6 May - News paper publication cutting of Financial Results of quarter and year ended 31st March, 2026. 6 May - News paper publication cutting of Financial Results of quarter and year ended 31st March, 2026.
3
Board Meeting Outcome for Outcome Of Board Meeting Held On 5Th May, 2026.
5h - Board approved audited FY26 standalone and consolidated results; appointed internal and cost auditors on 5 May 2026. 5h - Board approved audited FY26 standalone and consolidated results; appointed internal and cost auditors on 5 May 2026.
4
Brief Profile Of Internal Auditors TRS & Associates.
5 May - Sayaji Industries appointed M/s T R S & Associates as internal auditor for FY 2026-27. 5 May - Sayaji Industries appointed M/s T R S & Associates as internal auditor for FY 2026-27.
5
Brief Profile Of Cost Auditors M/S Dalwadi & Associates.
5 May - Board approved appointment of M/s Dalwadi & Associates as cost auditor for FY2026-27, subject to AGM approval. 5 May - Board approved appointment of M/s Dalwadi & Associates as cost auditor for FY2026-27, subject to AGM approval.
Frequently Asked Questions about Sayaji Industries
What does Sayaji Industries Ltd do?
Sayaji Industries Ltd was incorporated
in 1941 and manufactures maize starch,
modified starches and derivatives. Its
products are used in textile, paper &
packaging, pharma, food & confectionery, cosmetics, soaps & detergents, seeds,
paints, poultry and animal feed[1]
Where is Sayaji Industries Ltd (540728) listed?
Sayaji Industries Ltd trades as SAYAJIIND on the NSE and under code 540728 on the BSE.
Which sector does Sayaji Industries Ltd belong to?
Sayaji Industries Ltd is classified under the FMCG sector, in the Agricultural Products industry.
What is the market capitalisation of Sayaji Industries Ltd?
Sayaji Industries Ltd has a market capitalisation of ₹293.22 Cr, which places it in the Small Cap band.
What is the PE ratio of Sayaji Industries Ltd?
Sayaji Industries Ltd trades at a PE ratio of 24.17, against a book value of ₹36.67 per share.
What is the 52-week high and low of Sayaji Industries Ltd?
Over the last 52 weeks Sayaji Industries Ltd has traded between ₹106.5 and ₹125.
Does Sayaji Industries Ltd pay dividends?
Sayaji Industries Ltd has a dividend yield of 0.86%.
What is the Return on Equity (ROE) of Sayaji Industries Ltd?
Sayaji Industries Ltd reported a return on equity of -11.69%. Its debt-to-equity ratio is 2.44.
Company Information
Sayaji Industries Ltd was incorporated in 1941 and manufactures maize starch, modified starches and derivatives. Its products are used in textile, paper & packaging, pharma, food & confectionery, cosmetics, soaps & detergents, seeds, paints, poultry and animal feed[1]
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