Attached herewith Press-release of the company titled as: Sayaji Industries enters caramel business through joint venture with France''s Nigay SAS.
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Sayaji Industries has formed a 50:50 joint venture with Nigay SAS, a French caramel specialist founded in 1855, to set up a new caramel manufacturing facility in Ahmedabad. The JV will target high-growth emerging markets including India, the Indian subcontinent, the Middle East, Africa, and South East Asia, where rising demand for caramels in beverages, bakery, flavours and ready-to-eat food categories is expected to drive growth. The new plant is expected to be operational by the end of calendar year 2027. Sayaji Industries is currently a corn wet milling and speciality ingredients group established in 1941, and this move marks its entry into the niche caramel segment.
This is a long-term growth play that diversifies Sayaji into a value-added speciality ingredient with strong demand drivers, but since the plant is not expected to be operational until end-2027, there will be no immediate impact on earnings. Shareholders should view it as a strategic expansion into a higher-margin category that could improve the profitability profile over time.