Sanstar Limited has informed the Exchange regarding 'Sanstar Limited has informed the Exchange regarding 'Press Release for third quarter and nine months ended 31st December, 2025'.'.
SANSTAR · price
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Awaiting price reaction for this filing.
Sanstar reported Q3 FY26 revenue of Rs. 2,018 Mn, down 8.9% YoY but up 2.7% QoQ, as the company stabilised operations after a tough first half. Q3 EBITDA recovered sharply to Rs. 179 Mn (8.9% margin) from just Rs. 14 Mn in Q2, with PAT at Rs. 137 Mn. However, 9M FY26 revenue fell 22.3% YoY to Rs. 5,679 Mn and EBITDA dropped 69.4% to Rs. 183 Mn (3.2% margin), with PAT down 63.5% to Rs. 140 Mn. Management cited continued pressure on native starch pricing from Chinese exports into Southeast Asia as a key headwind. The Dhule capacity expansion remains on track, with the new native starch line set to start by end of February 2026 and the derivatives facility in Q1 FY27, taking total capacity to 2,100 TPD.
The sharp QoQ recovery in Q3 margins and on-time capacity expansion are positives, but the steep 9M decline and ongoing Chinese export pressure remain concerns. Stock may react to the better-than-Q2 sequential improvement, though full-year earnings visibility stays weak until new capacity ramps up and pricing normalises.