Sanstar Limited · NSE:SANSTAR
Sanstar — Q2 FY2027 Earnings Presentation
18 slides from Sanstar's earnings presentation, Nov 6, 2026
Slide 1: Submission of Press Release cover letter
*¥¥ el Sanstar '“O L3 Limited Regd. & Corp. Office : “Sanstar House” Nr. Parimal Under Bridge, Opp. Suvidha Shopping Centre, Paldi, Ahmedabad — 380007. Gujarat (India) Phone : +91 79-26651819 /20 / 21 CIN : L10621GJ1982PLC072555 E-Mail : sanstar@sanstar.in Website : www.sanstar.in Date: 06t November
Slide 2: Q2 and H1 FY2027 Earnings Presentation
Sanstar Limited (BSE: 544217 | NSE: SANSTAR) Q2 and H1 FY2027 Earnings Presentation
Slide 3: Sanstar Investment Case
Sanstar Investment Case Sanstar” ~ India’s 2" largest in maize based specialty products and ingredient solutions manufacturer with total installed capacity of 2,350 TPA Market Leadership in India’s 2" largest in maize based specialty products exporter, with exports contributing 34% of revenues, serv
Slide 4: Sanstar Business Overview
Sanstar Business Overview Sanstar” India’s #2 Maize Based Spe Ity Products Manufacturer — 2,350 TPD Capacity Food / Personal Care Kutch, Gujarat Paper 350 TPD Pharma (Dhule 2) Wet Milling Process Industrial Products Industrial Dhule, Maharashtra (1) Yellow Dextrin White Dextrin Food (Dhule 2) 750 TP
Slide 5: Q2 and H1 FY2027 Key Financial Performance
&5 ¥, Q2 and H1 FY2027 Key Financial Performance Sanstar’ - - - Q2 FY2027 Q2 FY2027 Q2 FY2027 Rs. 2,183 Mn Rs. 708 Mn Rs. 83 Mn +11.1% YoY 32.4% Margin 3.8% Margin N N N H1 FY2027 H1 FY2027 H1 FY2027 Rs. 4,244 Mn Rs. 1,397 Mn Rs. 237 Mn 15.9% YoY 32.9% Margin 5.6% Margin N - - * EBITDA excludes othe
Slide 6: Q2 FY2027 Results Commentary
Q2 FY2027 Results Commentary S fi‘*" ) ansiar Commenting on the performance Mr. Gouthamchand Chowdhary, Chairman and Managing Director said: “The second quarter of FY2027 marked a period of continued improvement in Sanstar's operating performance, with stable plant operations and the benefits of hig
Slide 7: Q2 FY2027 Financial Highlights
Q2 FY2027 Financial Highlights s Sanstar o ™ Rs. Million Revenues from Operations EBITDA* PAT 154 92 1064 2062 2,183 59 83 14 6 Q2 FY26 Q1FY27 Q2 FY27 Q2FY26 Q1FY27 Q2 FY27 Q2FY26 Q1FY27 Q2 FY27 EBITDA Margins PAT Margins 4.5% 7.5% 2.7% 3.8% 0.7% . 0.3% Q2 FY26 Q1 FY27 Q2 FY27 Q2FY26 Q1FY27 Q2 FY27
Slide 8: H1 FY2027 Financial Highlights
+ H1 FY2027 Financial Highlights & Sanstar’ Rs. Million Revenues from Operations EBITDA* PAT 4,244 3,661 237 151 4 3 H1FY26 H1Fy27 H1FY26 H1FY27 H1FY26 H1FY27 EBITDA Margins PAT Margins 5.6% 3.6% 0.1% 0.1% H1FY26 H1FY27 H1FY26 H1 FY27 * EBITDA excludes other income
Slide 9: Manufacturing Platform
Manufacturing Platform s Sanstar 4 A 2 2nd | argest 2,350 TPD \~ ” Dhule Plant is located in Manufacturing Facilities Capacity in India Installed Capacity > proximity to Mumbai Agra N i National Highway 50,000 MT 10.68 Million 13,670 Sq Ft / RM Storage at Dhule Sq Ft Total Land Area Storage Area at
Slide 10: H1 FY2027 Cash Flows Analysis
H1 FY2027 Cash Flows Analysis Fs Sanstar’ Rs. Mn FY25 FY26 H1FY27 Long Term Debt 147 100 76 Short Term Debt 123 99 232 Total Debt 271 199 308 (-) Cash & Cash Equivalents 1,207 236 191 Operating cash inflow was Rs. 234 Mn, Net Debt (937) (37) 117 indicating Operating efficiency Total Equity 6,591 6,9
Slide 11: Food / Personal Care and Pharma
Food / Personal Care and Pharma &% Sanstar ( Native Maize Starch: A cereal starch with low ash and protein content, derb from maize that contains around 71% starch. It is produced through a wet milling process involving steeping, grinding, purification, and drying. Its functional properties can vary
Slide 12: Animal Nutrition
Animal Nutrition G < Sanstar Corn Gluten Meal 60%: Produced as a by-product of maize starch manufacturing, maize gluten meal contains 60-75% crude protein and is used as a rich source of protein, energy, and pigments for livestock and fish. It is also valued in pet food for its high digestibility an
Slide 13: Application of Products Across End Use Industries
Application of Products Across End Use Industries s Sanstar’ - Food Products Product Applications # S B 868 553 =) 00 L ) Ingredients Gravies Bakery Confectionery Ketchups Sauces Jams Toppings Thickening Agents S E o ¥ Stabilizers Sweeteners - a K Mayonnaise Pastas Soups Creams Deserts Syrups Proces
Slide 14: Exports: A Major Lever for the Next Phase of Growth
a3, Exports: A Major Lever for the Next Phase of Growth Sanstar” 4 I 34% % Revenue from Exports 34 Countries across all Continents 26% Exports Sales CAGR (FY21-FY26)* Rs. 2,657 million Exports Revenue FY26" Growing Share Of North America and Europe in . Asia . Africa . America . Middle East . Europe
Slide 15: Board of Directors
Board of Directors 2 Sanstar’ | AA‘. B Mr. Gouthamchand Chowdhary Mr. Sambhav Chowdhary Mr. Shreyans Chowdhary Mr. Aniket Talati Promoter and CMD Promoter and Jt. MD Promoter and Jt. MD Independent Director He Has served on the Board of Sanstar He has served on the Board of Sanstar With over 12 year
Slide 16: Q2 and H1 FY2027 Income Statement
Q2 and H1 FY2027 Income Statement o Sanstar (Rs. Million) Q2FY2027 Q2FY2026 (%) Q1FY2027 Q-0-Q(%) H1FY2027 H1FY2026 Operating Revenue (46.00% (36.9% (36.4)% PAT Margin (%) * EBITDA excludes other income T
Slide 17: Balance Sheet as on 30th September 2026
Balance Sheet as on 30t September 2026 s Sanstar’ R Milion ar. 2026 [l "NRM0 Sen2026 Mar 2026 Equity and liabilities Assets a) Equity Share Capital 401 365 Non-Current Assets b) Other Equity 8,666 6,575 a) Property, Plant and Equipment 4,409 4,244 Shareholders Fund 9,067 6,939 b) Capital WIP 273 110
Slide 18: Disclaimer
Disclaimer G Sanstar This presentation contains “forward looking statements” including, Pl e HEX3 Fagun Shah 1 but without limitation, statements relating to the implementation of San strategic initiatives, and other statements relating Sanstar Ltd. r™ Company Secretary 1 future business development