As of 6 Nov 2026, Sayaji Industries trades at 10.9× trailing earnings, below the industry P/E of 13.7×, and the shares are 15% below their 52-week high. It earns ROCE of 14% and ROE of 26%, and sales grew 1.0% a year over 3 years while net profit fell 43%. Debt is 2.25× equity. It is a small-cap company with a market cap of ₹270 Cr, ranked 16th of 81 Farm Products companies by market cap; the shares fell 2.6% over the past year.
- ₹106.92
- ₹106.92
- ₹106.80
- ₹102.50
- 341
Health check
- ReturnsBehind
−2.6% over a year, better than 2 of 7 peers.
- Price tagCheaper
P/E 10.9 vs industry 13.7.
- GrowthSteady
Sales +1.0%, profit −42.5% a year over 3 years.
- ProfitabilityAverage
ROCE 14.1% vs peer median 10.6%.
- Balance sheetStretched
Debt 2.25× equity, interest covered 1.1×, Piotroski 6 of 9.
- Red flags2 to check
Debt is 2.25× equity.
Small cap
Defensive
Key metrics
- Market cap
- ₹270 Cr
- Small cap
- P/E
- 10.9
- Industry 13.7
- Price to book
- 2.63
- Peers 1.92
- Dividend yield
- 0.00%
- ROE
- 26.2%
- Peers 7.6%
- ROCE
- 14.1%
- Peers 10.6%
- Debt to equity
- 2.25
- Debt ₹239 Cr
- EPS (TTM)
- ₹9.83
- Face value ₹5
- OPM (TTM)
- 6.3%
- Net margin 2.3%
- Sales growth
- +5.7%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.24
- EV/EBITDA 7.1
Strengths and risks
Strengths
- Return on equity of 26.2%.
Risks to check
- Debt is 2.25× equity.
- Interest coverage of only 1.8×.
About Sayaji Industries
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…
- Headquarters
- Ahmedabad
- Employees
- 779
- Sector
- Consumer Defensive
- ISIN
- INE327G01032
- Website
- sayajigroup.in
Price range
- Avg volume (3M)
- 1.5K
- 1-year return
- minus 2.6%
- From 52-week high
- minus 15.2%
Peers · Farm Products
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AEROPLANEAmir Chand Jagdish Kumar (Exports) | 238.71 | minus 1.56% | 2,472 | 19.9 | 2.49 | 23.2% | 15.9% | 10.5% | 20.6% | 80.7% | 0.00% | plus 32.6% |
| VENKEYSVenky's (India) | 1,587.90 | minus 1.21% | 2,237 | 12.9 | 1.40 | 12.1% | 9.1% | 6.0% | −4.0% | 25.5% | 0.63% | plus 4.5% |
| ANDREWYUAndrew Yule & Company | 23.47 | minus 2.21% | 1,148 | – | 3.55 | −4.7% | −5.8% | −27.2% | −7.7% | – | 0.00% | minus 25.1% |
| PERVASIVEPervasive Commodities | 12.32 | minus 1.44% | 1,110 | – | – | 0.0% | −0.1% | −0.9% | – | – | 0.00% | plus 941.7% |
| APEXApex Frozen Foods | 324.45 | minus 1.14% | 1,014 | 19.7 | 1.92 | 10.6% | 7.6% | 7.7% | −4.5% | 2.7% | 0.77% | plus 39.0% |
| ZEALZeal Global Services | 69.45 | plus 4.99% | 876 | – | – | 33.8% | 14.7% | 4.0% | 22.5% | 26.0% | – | minus 39.9% |
| DBOLDhampur Bio Organics | 127.32 | minus 6.27% | 835 | 25.3 | 0.82 | 7.7% | 2.5% | 6.5% | −4.3% | −39.0% | 1.18% | plus 73.0% |
| SAYAJIINDSayaji Industries | 106.80 | plus 4.20% | 270 | 10.9 | 2.63 | 14.1% | 26.2% | 3.4% | 1.0% | −42.5% | 0.00% | minus 2.6% |
| Median of 7 peers | – | −1.44% | 1,110 | 19.8 | 1.92 | 10.6% | 7.6% | 6.0% | −4.2% | 25.5% | 0.32% | 32.6% |
Quarterly results
| ₹ Cr | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 249 | 283 | 268 | 288 | 264 | |
| 251 | 268 | 245 | 270 | 249 | |
| −2.1 | 14.9 | 22.6 | 17.7 | 14.5 | |
| −0.9% | 5.3% | 8.4% | 6.1% | 5.5% | |
| 1.2 | 1.4 | 3.2 | 3.4 | 1.8 | |
| 6.4 | 6.5 | 6.3 | 6.4 | 6.8 | |
| 5.1 | 5.3 | 5.3 | 5.4 | 5.6 | |
| −12.4 | 4.6 | 14.2 | 9.4 | 3.9 | |
| 26.2% | 21.7% | 25.1% | 21.6% | 19.0% | |
| −9.2 | 3.5 | 11 | 7 | 3.4 | |
| -3.65 | 1.37 | 4.33 | 27.18 | 1.35 |
Profit & loss
- Sales CAGR 3Y
- +1.0%
- Profit CAGR 3Y
- −42.5%
- EPS CAGR 3Y
- −42.6%
- ROE
- 26.2%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,039 | 974 | 1,003 | 1,070 | |
| – | minus 6.3% | +3.0% | +6.6% | |
| 1,018 | 968 | 1,013 | 1,027 | |
| 21.4 | 5.4 | −9.8 | 42.4 | |
| 2.1% | 0.6% | −1.0% | 4.0% | |
| 5.5 | 8 | 6.1 | 7 | |
| 11.7 | 15 | 18.7 | 24.1 | |
| 14.8 | 16.5 | 19.4 | 20.6 | |
| 8.1 | −0.9 | 28.5 | −3.4 | |
| 8.4 | −18.9 | −13.3 | 1.2 | |
| 17.7% | 38.3% | 16.7% | −21.0% | |
| 7.2 | −11.7 | −11.2 | 1.4 | |
| 2.85 | -4.64 | -4.44 | 0.54 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 3.2 | 3.2 | 3.2 | 12.6 | |
| 113 | 100 | 88.3 | 80.1 | |
| 128 | 171 | 221 | 227 | |
| 180 | 264 | 210 | 230 | |
| 424 | 539 | 522 | 550 | |
| 268 | 320 | 320 | 323 | |
| 22.1 | 22.7 | 27.7 | 11.8 | |
| 1.6 | 1 | 20.2 | 1 | |
| 0.6 | 2.5 | 4.2 | 3.4 | |
| 132 | 193 | 150 | 211 | |
| 424 | 539 | 522 | 550 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 22.2 | 40.2 | −33.5 | 37.7 | |
| −28.5 | −59.6 | 3.8 | −18.9 | |
| 6.2 | 20 | 30.4 | −19.8 | |
| −0.1 | 0.6 | 0.7 | −1 | |
| −37.1 | −62.2 | −32.5 | −19.7 | |
| −14.9 | −22 | −66 | 18 | |
| −0.6 | – | – | – |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company.
Major shareholders
Filings & events
News
No recent news coverage found.