Sayaji Industr

  • Market Cap: Micro Cap
  • Industry: Other Agricultural Products
  • ISIN: INE327G01032
  • NSEID:
  • BSEID: 540728
INR
115.46
5.49 (4.99%)
BSENSE

May 08

BSE+NSE Vol: 3.02 k

  • Price Points
  • Score
  • Mojo Parameters
  • Total Return
  • News and Corporate Actions
  • Key factors
  • Shareholding
  • Financials
  • CompanyCV
stock-summaryPrice Point
High/Low

1Day

52 Week

Valuation
Technical
Day's Volume

CASH

3.02 k (-25.91%) Volume

Shareholding (Mar 2026)

FII

0.00%

Held by 0 FIIs

DII

0.01%

Held by 0 DIIs

Promoter

74.95%

how big is Sayaji Industr?

06-Jun-2025

As of October 2023, Sayaji Industries Ltd has a market capitalization of 179.00 Cr and reported net sales of 1003.95 Cr with a net profit of -11.22 Cr over the latest four quarters. Shareholder's funds are 103.51 Cr, and total assets amount to 537.87 Cr.

Market Cap: Sayaji Industries Ltd has a market capitalization of 179.00 Cr and is classified as a Micro Cap.<BR><BR>Recent Quarterly Performance: The sum of Net Sales for the latest 4 quarters is 1003.95 Cr, while the sum of Net Profit for the same period is -11.22 Cr. This data is Consolidated.<BR><BR>Balance Sheet Snapshot: This is Consolidated data for the latest annual period ending in March 2024. Shareholder's Funds are reported at 103.51 Cr, and Total Assets amount to 537.87 Cr.

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Who are in the management team of Sayaji Industr?

06-Jun-2025

As of March 2023, the management team of Sayaji Industries includes Priyam B Mehta (Chairman & Managing Director), Varun P Mehta and Vishal P Mehta (Executive Directors), along with several independent directors and other key positions. They oversee the company's operations and strategic direction.

As of March 2023, the management team of Sayaji Industries includes the following individuals:<BR><BR>1. Priyam B Mehta - Chairman & Managing Director<BR>2. Varun P Mehta - Executive Director<BR>3. Gaurang K Dalal - Independent Director<BR>4. Vishal P Mehta - Executive Director<BR>5. Janak D Desai - Independent Director<BR>6. Chirag M Shah - Independent Director<BR>7. Rajesh H Shah - Company Secretary & Compliance Officer<BR>8. Sujata P Mehta - Director<BR>9. Jaysheel Hazarat - Independent Director<BR>10. Amit Nareshchandra Shah - Whole Time Director- Technical<BR>11. Birad Yajnik - Independent Director<BR><BR>This team is responsible for overseeing the operations and strategic direction of the company.

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Has Sayaji Industr declared dividend?

06-Jun-2025

Yes, Sayaji Industries Ltd has declared a 20% dividend, amounting to ₹1 per share, with an ex-date of July 29, 2022. However, the dividend yield is 0%, and total returns over various periods show strong price performance despite minimal dividend contributions.

Sayaji Industries Ltd has declared a 20% dividend.<BR><BR>Dividend Details:<BR>- Percentage announced: 20%<BR>- Amount per share: 1 per share<BR>- Ex-date: 29 Jul 22<BR><BR>Dividend Yield: 0%<BR><BR>Total Returns by Period:<BR>In the 6-month period, the price return was -7.47%, with a dividend return of 0%, resulting in a total return of -7.47%.<BR><BR>For the 1-year period, the price return was 64.74%, with a dividend return of 0%, leading to a total return of 64.74%.<BR><BR>During the 2-year period, the price return was 82.81%, and the dividend return was 0%, resulting in a total return of 82.81%.<BR><BR>In the 3-year period, the price return was 29.55%, with a dividend return of 0.52%, culminating in a total return of 30.07%.<BR><BR>For the 4-year period, the price return was 19.75%, and the dividend return was 0.83%, leading to a total return of 20.58%.<BR><BR>In the 5-year period, the price return was 155.38%, with a dividend return of 1.38%, resulting in a total return of 156.76%.<BR><BR>Overall, Sayaji Industries Ltd has declared a dividend, but the dividend yield remains at 0%. The total returns over various periods show a mix of positive price returns, particularly in the longer terms, indicating strong performance despite the lack of significant dividend contributions.

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Who are the peers of the Sayaji Industr?

03-Jun-2025

Sayaji Industr's peers include L T Foods, KRBL, Kaveri Seed Co., and others, with varying management and growth risks. In terms of returns, Sayaji Industr has a 1-year return of 57.31%, higher than Himalaya Food but lower than Naturite Agro's 313.93%.

Peers: The peers of Sayaji Industr are L T Foods, KRBL, Kaveri Seed Co., Guj. Ambuja Exp, GRM Overseas, JK Agri Genetics, Naturite Agro, Kohinoor Foods, Himalaya Food.<BR><BR>Quality Snapshot: Excellent management risk is observed at Kaveri Seed Co., while Good management risk is found at L T Foods, and Average management risk is noted at KRBL, Guj. Ambuja Exp, and GRM Overseas, and the rest. Below Average management risk is present at Sayaji Industr, JK Agri Genetics, Naturite Agro, and Himalaya Food. Growth is Excellent at Kaveri Seed Co., while Good growth is seen at L T Foods, and Below Average growth is noted at KRBL, Guj. Ambuja Exp, GRM Overseas, Sayaji Industr, JK Agri Genetics, Naturite Agro, and Himalaya Food. The Capital Structure is Excellent at Kaveri Seed Co. and KRBL, while Good is observed at L T Foods, and Excellent is noted at Guj. Ambuja Exp, and the rest have Below Average capital structure.<BR><BR>Return Snapshot: The peer with the highest 1-year return is Naturite Agro at 313.93%, while the lowest is Himalaya Food at -36.85%. Sayaji Industr's 1-year return is 57.31%, which is significantly higher than Himalaya Food but lower than Naturite Agro. Additionally, the six-month return is negative for Guj. Ambuja Exp, Sayaji Industr, JK Agri Genetics, Himalaya Food, and Kohinoor Foods.

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Is Sayaji Industr overvalued or undervalued?

09-Jun-2025

As of February 9, 2024, Sayaji Industries is considered risky and overvalued due to a negative PE ratio of -16.05, an EV to EBITDA ratio of -35.50, and a ROCE of -9.88%, despite having outperformed the Sensex over the past year with a 58.33% return.

As of 9 February 2024, the valuation grade for Sayaji Industries has moved from attractive to risky, indicating a significant shift in its financial outlook. The company is currently assessed as overvalued based on its negative PE ratio of -16.05 and an EV to EBITDA ratio of -35.50, which are stark contrasts to its peers. Additionally, the ROCE stands at -9.88%, further highlighting the company's struggles in generating returns.<BR><BR>In comparison to its peers, such as Hindustan Unilever with a PE ratio of 53.88 and Nestle India at 75.2, Sayaji Industries' metrics suggest a concerning financial position. The EV to Sales ratio of 0.40 is also notably lower than many competitors, indicating potential inefficiencies. While the stock has outperformed the Sensex over the past year with a return of 58.33%, its year-to-date performance shows a decline of 19.94%, reinforcing the notion that the stock may be overvalued in the current market context.

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What is the technical trend for Sayaji Industr?

09-Jun-2025

As of April 7, 2025, Sayaji Industries shows a mildly bullish trend overall, supported by the monthly MACD and KST indicators, despite mixed signals from the weekly charts.

As of 7 April 2025, the technical trend for Sayaji Industries has changed from bullish to mildly bullish. The weekly MACD indicates a mildly bearish stance, while the monthly MACD remains bullish. The daily moving averages are mildly bullish, supporting the overall mildly bullish trend. Bollinger Bands show a bearish signal on the weekly chart but are mildly bullish on the monthly chart. The KST is mildly bullish on the weekly and bullish on the monthly, providing some positive momentum. However, both the weekly and monthly Dow Theory indicate no clear trend. Overall, the technical stance is mildly bullish, driven primarily by the monthly MACD and KST indicators.

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What does Sayaji Industr do?

17-Jul-2025

Sayaji Industries Ltd manufactures starches and derivatives in the agricultural products sector. As of March 2025, it reported net sales of ₹2,466 Cr and a net loss of ₹77 Cr, with a market cap of ₹173 Cr.

Overview:<BR>Sayaji Industries Ltd is engaged in the manufacture of starches and other derivatives within the Other Agricultural Products industry, classified as a Micro Cap company.<BR><BR>History:<BR>Incorporated on January 30, 1941, Sayaji Industries has been operational since its inception, with the latest reported quarterly results for March 2025 showing net sales and net profit figures.<BR><BR>Financial Snapshot:<BR>Net Sales: 2,466 Cr (Quarterly Results - Mar 2025) <BR>Net Profit: -77 Cr (Quarterly Results - Mar 2025) <BR>Market Cap: INR 173 Cr (Micro Cap)<BR><BR>Key Metrics:<BR>P/E: N/A <BR>Industry P/E: 56 <BR>Dividend Yield: 0.00% <BR>Debt-Equity: 2.39 <BR>Return on Equity: -12.26% <BR>Price to Book: 1.89<BR><BR>Contact Details:<BR>Address: Kathwada PO, Maize Products Ahmedabad Gujarat : 382430 <BR>Tel: 91-79-22901581-85 <BR>Email: maize@maizeproducts.com <BR>Website: http://www.sayajigroup.in; www.maizeproducts.com

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Who are the top shareholders of the Sayaji Industr?

17-Jul-2025

The top shareholder of Sayaji Industries is the Varun Family Trust, holding 16.93%. Promoters primarily own the company, with no pledged holdings, while individual investors collectively own 21.96%, and there are no mutual funds or foreign institutional investors involved.

The top shareholders of Sayaji Industries include the Varun Family Trust, which holds the largest stake at 16.93%. The company is primarily owned by its promoters, with no pledged promoter holdings reported. In terms of public shareholders, the highest individual investor is Nisarg Ajaykumar Vakharia, who holds 2.94%. Additionally, individual investors collectively own 21.96% of the shares. There are currently no mutual funds or foreign institutional investors holding shares in the company.

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How has been the historical performance of Sayaji Industr?

17-Nov-2025

Sayaji Industries experienced fluctuating financial performance, with net sales increasing to 1,003.95 Cr in March 2025 but facing a decline in operating profit to -11.24 Cr and negative cash flow of -33.00 Cr, indicating ongoing profitability and cash flow challenges despite revenue growth.

Answer:<BR>The historical performance of Sayaji Industries shows fluctuations in key financial metrics over the years, with notable changes in revenue, profit, and expenses.<BR><BR>Breakdown:<BR>Sayaji Industries reported net sales of 1,003.95 Cr in March 2025, an increase from 975.40 Cr in March 2024, but a decrease from 1,040.11 Cr in March 2023. Total operating income followed a similar trend, reaching 1,003.95 Cr in March 2025, up from 975.40 Cr in the previous year. However, total expenditure increased to 1,015.19 Cr in March 2025 from 970.03 Cr in March 2024, leading to an operating profit (PBDIT) of -11.24 Cr in March 2025, down from 5.37 Cr in March 2024. The profit before tax also declined to -17.55 Cr in March 2025 from -23.46 Cr in March 2024, resulting in a profit after tax of -15.32 Cr, slightly improved from -16.23 Cr in the previous year. The company's total assets decreased to 521.72 Cr in March 2025 from 537.87 Cr in March 2024, while total liabilities also fell to 521.72 Cr from 537.87 Cr. Cash flow from operating activities turned negative at -33.00 Cr in March 2025, compared to a positive 40.00 Cr in March 2024, indicating challenges in cash generation. Overall, the financial performance of Sayaji Industries reflects a mix of growth in sales but ongoing struggles with profitability and cash flow management.

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When is the next results date for Sayaji Industries Ltd?

28-Apr-2026

The next results date for Sayaji Industries Ltd is 05 May 2026.

The next results date for Sayaji Industries Ltd is scheduled for 05 May 2026.

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Should I buy, sell or hold Sayaji Industries Ltd?

05-May-2026

Are Sayaji Industries Ltd latest results good or bad?

06-May-2026

Sayaji Industries Ltd's latest quarterly results show a significant profit rebound, with a net profit of ₹10.96 crores, but the company still faces challenges with an annual net loss of ₹15.00 crores and low return on equity, indicating caution for investors.

Sayaji Industries Ltd's latest results present a mixed picture. On one hand, the company reported a significant rebound in its quarterly performance for Q4 FY25, with a consolidated net profit of ₹10.96 crores, marking a remarkable 216.76% increase quarter-on-quarter. Additionally, the operating margin improved to 8.45%, the highest in eight quarters, indicating better cost management and pricing strategies.<BR><BR>However, despite this positive quarterly performance, the overall annual results for FY25 are concerning. The company posted a full-year net loss of ₹15.00 crores, slightly better than the ₹16.00 crore loss in FY24, but still indicative of ongoing operational challenges. The year-on-year profit change shows a sharp deterioration of 241.60%, highlighting that the recent quarterly success may not be sustainable.<BR><BR>Moreover, the company's return on equity (ROE) remains low at 7.67%, and its financial leverage is high, with a debt-to-EBITDA ratio of 6.92 times, which poses risks to its financial stability. The absence of institutional investor interest further reflects a lack of confidence in the company's long-term prospects.<BR><BR>In summary, while the latest quarterly results show promise, the persistent annual losses and underlying financial challenges suggest that Sayaji Industries is still navigating a precarious situation. Investors should approach with caution, weighing the recent improvements against the broader financial context.

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Why is Sayaji Industries Ltd falling/rising?

09-May-2026

As of 08-May, Sayaji Industries Ltd's stock price has risen to Rs. 115.46, up 4.99%, driven by strong investor interest and a positive trend over the past four days, including reaching a new 52-week high. The stock's performance metrics and increased delivery volume indicate robust market sentiment and bullish momentum.

As of 08-May, Sayaji Industries Ltd is experiencing a rise in its stock price, currently at Rs. 115.46, reflecting an increase of Rs. 5.49 or 4.99%. This upward movement can be attributed to several key factors. Firstly, the stock has outperformed the sector by 4.6% today and has been on a positive trend, gaining for the last four consecutive days with a total return of 21.52% during this period. Additionally, the stock opened with a gap up of 4.99%, indicating strong investor interest from the start of the trading session.<BR><BR>Moreover, Sayaji Industries has reached a new 52-week high today, which often signals positive sentiment among investors. The stock is also trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong bullish trend. The rising investor participation is evident, with a delivery volume of 5.16k on May 7, which has increased by 3.55% compared to the 5-day average delivery volume. This indicates that more investors are willing to hold the stock rather than sell it, further supporting the price increase.<BR><BR>Overall, the combination of strong performance metrics, positive market sentiment, and increased investor participation has contributed to the rising stock price of Sayaji Industries Ltd.

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iScoreScore
Click here to find our call on this stock
Strong Sell
Sell
Hold
Buy
Strong Buy

Dashboard

1

Weak Long Term Fundamental Strength with a -14.26% CAGR growth in Operating Profits over the last 5 years

  • Low ability to service debt as the company has a high Debt to EBITDA ratio of 5.84 times
  • The company has been able to generate a Return on Equity (avg) of 4.97% signifying low profitability per unit of shareholders funds
2

With a growth in Net Sales of 8.53%, the company declared Very Positive results in Mar 26

3

With ROCE of 5.8, it has a Expensive valuation with a 1.6 Enterprise value to Capital Employed

4

Majority shareholders : Promoters

 
5

Market Beating performance in long term as well as near term

stock-summaryMojo Parameters

Mojo Parameters

Loading Valuation Snapshot...

Stock DNA

stock-summary
Industry

Other Agricultural Products

stock-summary
Market cap

INR 292 Cr (Micro Cap)

stock-summary
P/E

212.00

stock-summary
Industry P/E

49

stock-summary
Dividend Yield

0.00%

stock-summary
Debt Equity

2.42

stock-summary
Return on Equity

1.49%

stock-summary
Price to Book

3.00

Revenue and Profits:
Net Sales:
268 Cr
(Quarterly Results - Mar 2026)
Net Profit:
11 Cr
stock-summaryTotal Returns
Total Returns (Price + Dividend) stock-summary
Dividend Yield (0%)
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
56.05%
0%
56.05%
6 Months
47.08%
0%
47.08%
1 Year
52.47%
0%
52.47%
2 Years
154.81%
0%
154.81%
3 Years
179.9%
0%
179.9%
4 Years
96.53%
1.67%
98.2%
5 Years
168.43%
3.36%
171.79%

Latest dividend: 1 per share ex-dividend date: Jul-29-2022

Risk Adjusted Returns v/s stock-summary
Returns Beta
Icon
Beta has not been calculated since enough price history is not available
stock-summaryNews & Corporate Actions

Announcements stock-summary

Brief Profile Of Internal Auditor M/S TRS & Associates.

06-May-2026 | Source : BSE

Brief Profile of Internal Auditor of M/s TRS & Associates appointed for the F.Y. 2026-2027.

Announcement under Regulation 30 (LODR)-Newspaper Publication

06-May-2026 | Source : BSE

News paper publication cutting of Financial Results of quarter and year ended 31st March 2026.

Financial Results Consolidated And Standalone For The Quarter And Year Ended 31St March 2026.

05-May-2026 | Source : BSE

Financial Results consolidated and standalone for the quarter and year ended 31st March 2026.

Corporate Actions stock-summary

stock-summary
BOARD MEETING

No Upcoming Board Meetings

stock-summary
DIVIDEND

Sayaji Industries Ltd has declared 20% dividend, ex-date: 29 Jul 22

stock-summary
SPLITS

Sayaji Industries Ltd has announced 5:10 stock split, ex-date: 27 Dec 18

stock-summary
BONUS

Sayaji Industries Ltd has announced 3:1 bonus issue, ex-date: 07 Oct 25

stock-summary
RIGHTS

No Rights history available

stock-summaryKey Factors

Quality key factors stock-summary

Factor
Value
Sales Growth (5y)
13.91%
EBIT Growth (5y)
-14.26%
EBIT to Interest (avg)
0.42
Debt to EBITDA (avg)
7.23
Net Debt to Equity (avg)
2.42
Sales to Capital Employed (avg)
3.45
Tax Ratio
Tax Ratio is Negative%
Dividend Payout Ratio
0
Pledged Shares
0
Institutional Holding
0.01%
ROCE (avg)
2.45%
ROE (avg)
4.97%

Valuation key factors

Factor
Value
P/E Ratio
212
Industry P/E
49
Price to Book Value
3.15
EV to EBIT
28.29
EV to EBITDA
13.30
EV to Capital Employed
1.63
EV to Sales
0.48
PEG Ratio
1.88
Dividend Yield
NA
ROCE (Latest)
5.75%
ROE (Latest)
1.49%

Technicals key factors

Indicator
Weekly
Monthly
MACD
Bullish
Bullish
RSI
No Signal
No Signal
Bollinger Bands
Bullish
Bullish
Moving Averages
Bullish (Daily)
KST
Bullish
Mildly Bearish
Dow Theory
No Trend
Mildly Bullish
stock-summary Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish  Turned 
stock-summaryShareholding
Shareholding Snapshot : Mar 2026stock-summary
Shareholding Compare (%holding) stock-summary
Majority shareholders

Promoters

Pledged Promoter Holdings

None

Mutual Funds

Held by 0 Schemes

FIIs

Held by 0 FIIs

Promoter with highest holding

Varun Family Trust (16.93%)

Highest Public shareholder

Sayaji Industries Limited (3.72%)

Individual Investors Holdings

18.11%

stock-summaryFinancial
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          "val2": "-11.21",
          "chgp": "112.22%",
          "chgp_class": "positive"
        },
        {
          "field": "Operating Profit Margin (Excl OI)",
          "val1": "0.00%",
          "val2": "-1.12%",
          "chgp": "1.12%",
          "chgp_class": "positive"
        }
      ]
    }
  }
]

Quarterly Results Snapshot (Consolidated) - Mar'26 - YoYstock-summary

Mar'26
Mar'25
Change(%)
Net Sales
267.59
246.56
8.53%
Operating Profit (PBDIT) excl Other Income
22.60
-2.11
1,171.09%
Interest
6.29
5.44
15.62%
Exceptional Items
0.00
0.00
Consolidate Net Profit
10.96
-7.74
241.60%
Operating Profit Margin (Excl OI)
8.45%
-0.86%
9.31%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in quarter ended Mar 2026 is 8.53% vs -7.00% in Mar 2025

Direction Arrows
Consolidated Net Profit

YoY Growth in quarter ended Mar 2026 is 241.60% vs 1.15% in Mar 2025

Half Yearly Results Snapshot (Consolidated) - Sep'25stock-summary

Sep'25
Sep'24
Change(%)
Net Sales
521.27
488.08
6.80%
Operating Profit (PBDIT) excl Other Income
1.32
-16.32
108.09%
Interest
12.08
8.72
38.53%
Exceptional Items
0.00
0.00
Consolidate Net Profit
-13.04
-2.30
-466.96%
Operating Profit Margin (Excl OI)
0.25%
-3.34%
3.59%
Values in Rs Cr.
Direction Arrows
Net Sales

Growth in half year ended Sep 2025 is 6.80% vs 4.91% in Sep 2024

Direction Arrows
Consolidated Net Profit

Growth in half year ended Sep 2025 is -466.96% vs -17.95% in Sep 2024

Nine Monthly Results Snapshot (Consolidated) - Dec'25stock-summary

Dec'25
Dec'24
Change(%)
Net Sales
804.17
757.38
6.18%
Operating Profit (PBDIT) excl Other Income
16.26
-9.13
278.09%
Interest
18.61
13.78
35.05%
Exceptional Items
0.00
0.00
Consolidate Net Profit
-9.58
-3.48
-175.29%
Operating Profit Margin (Excl OI)
2.02%
-1.21%
3.23%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in nine months ended Dec 2025 is 6.18% vs 6.63% in Dec 2024

Direction Arrows
Consolidated Net Profit

YoY Growth in nine months ended Dec 2025 is -175.29% vs 10.77% in Dec 2024

Annual Results Snapshot (Consolidated) - Mar'26stock-summary

Mar'26
Mar'25
Change(%)
Net Sales
1,071.76
1,003.95
6.75%
Operating Profit (PBDIT) excl Other Income
0.00
-11.24
100.00%
Interest
24.90
19.23
29.49%
Exceptional Items
0.00
0.00
Consolidate Net Profit
1.37
-11.21
112.22%
Operating Profit Margin (Excl OI)
0.00%
-1.12%
1.12%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in year ended Mar 2026 is 6.75% vs 2.93% in Mar 2025

Direction Arrows
Consolidated Net Profit

YoY Growth in year ended Mar 2026 is 112.22% vs 4.43% in Mar 2025

stock-summaryCompany CV
About Sayaji Industries Ltd stock-summary
stock-summary
Sayaji Industries Ltd
Micro Cap
Other Agricultural Products
Sayaji Industries Limited was incorporated on January 30, 1941. The Company is engaged in the business of manufacture of 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 at Kathwada, Ahmedabad. The Company is having manufacturing facilities at P.O. Kathwada, Ahmedabad. The corn wet milling was commenced by the Company in 1941 with a modest grinding capacity.
Company Coordinates stock-summary
Company Details
Kathwada PO, Maize Products Ahmedabad Gujarat : 382430
stock-summary
Tel: 91-79-22901581-85
stock-summary
maize@maizeproducts.com
Registrar Details
Karvy Computershare Pvt Ltd., Karvy Selenium, Tower-B Plot No 31 & 32, Survey No 116/22, 115/24, 115/25, Financial District, Nanakramguda, Serilingampally, Mandal Ranga Reddy Dist, Hyderabad