Sukhjit Starch & Chemicals Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Starch & its Derivatives: 99.4% • Mega Food Park: 0.5% • Heavy Machinery: 0.1%
AI Sector View
AI GENERATEDFast Moving Consumer Goods
Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.
PROS
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 164.4% YoY, showing strong momentum
- Company has delivered good sales growth of 15.3% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.02x)
- Company generates healthy free cash flow
- Company has a consistent dividend-paying track record
CONS
- A large part of profit comes from other income (49.1% of PBT)
- Company has a low return on equity of 7.6% over last 3 years
- Company has a low return on capital employed of 10.1%
- Company has delivered a poor profit growth of 2.9% over past five years
- Valuation is stretched - P/E of 14.8 is well above its own 5-year median (6.5)
- Operating margins have contracted to 5.3% from 10.0%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| NESTLEIND | 1384.00 | 70.03 | 266878.70 | 0.87 | 9586.80 | 1382.67 | 63781.80 | 1157.04 | 98.35 | 23.86 |
| VBL | 416.25 | 41.58 | 140795.10 | 0.36 | 1525.36 | 15.08 | 8650.57 | 20.77 | 20.73 | 27.04 |
| BRITANNIA | 4970.00 | 45.97 | 119711.54 | 1.82 | 593.38 | 14.08 | 4999.97 | 10.26 | 56.48 | 16.77 |
| JUBLFOOD | 470.40 | 71.52 | 31039.12 | 0.26 | 100.03 | 6.03 | 2569.65 | 13.66 | 25.56 | 19.77 |
| HATSUN | 1222.80 | 78.20 | 27237.66 | 0.49 | 60.58 | — | 2363.72 | 17.61 | 17.40 | 10.81 |
| MILKYMIST | 293.30 | 177.78 | 22579.51 | 0.00 | 646.79 | — | 9734.46 | — | 13.79 | 14.77 |
| ZYDUSWELL | 552.65 | 93.43 | 17583.15 | 0.22 | 118.90 | -7.04 | 1437.00 | 67.54 | 4.42 | 16.82 |
| DEVYANI | 137.95 | 0.00 | 17008.40 | 0.00 | 17.10 | 667.68 | 1580.52 | 16.47 | 8.98 | 16.09 |
| LTFOODS | 437.85 | 23.74 | 15204.47 | 0.69 | 1834.46 | 988.67 | 31518.31 | 1179.20 | 19.77 | 11.26 |
| BIKAJI | 548.50 | 53.20 | 13752.89 | 0.23 | 59.47 | 1.62 | 734.26 | 15.26 | 21.65 | 13.48 |
| MANORAMA | 2063.45 | 52.81 | 13024.99 | 0.04 | 78.66 | 67.55 | 404.01 | 39.53 | 35.00 | 26.29 |
| SUKHJITS | 160.85 | 14.71 | 502.56 | 0.62 | 12.15 | 142.51 | 395.65 | 7.18 | 7.75 | 7.62 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 322 | 320 | 361 | 368 | 390 | 364 | 373 | 359 | 367 | 313 | 344 | 402 | 395 | |
| 293 | 290 | 324 | 337 | 358 | 334 | 346 | 344 | 350 | 297 | 325 | 379 | 379 | |
| Operating Profit | 29 | 30 | 37 | 31 | 31 | 30 | 27 | 15 | 17 | 16 | 19 | 23 | 16 |
| OPM % | 8.95% | 9.33% | 10.17% | 8.35% | 8.07% | 8.21% | 7.19% | 4.11% | 4.64% | 5.17% | 5.46% | 5.75% | 4.08% |
| 2 | 3 | 1 | 2 | 1 | 2 | 1 | 3 | 3 | 4 | 1 | 9 | 0 | |
| Interest | 7 | 8 | 7 | 8 | 7 | 9 | 7 | 6 | 7 | 8 | 8 | 7 | 7 |
| Depreciation | 6 | 6 | 7 | 7 | 7 | 7 | 7 | 8 | 7 | 7 | 7 | 6 | 7 |
| Profit before Tax | 17 | 18 | 23 | 18 | 18 | 17 | 14 | 3 | 6 | 5 | 5 | 18 | 16 |
| Tax % | 23.92% | 24.36% | 25.58% | 37.92% | 25.26% | 24.96% | 24.74% | 30.09% | 16.23% | 13.40% | 24.34% | 28.02% | 23.69% |
| Net Profit | 13 | 14 | 17 | 11 | 14 | 13 | 11 | 2 | 5 | 4 | 4 | 13 | 13 |
| 8.35 | 8.75 | 5.59 | 3.67 | 4.36 | 4.04 | 3.46 | 0.78 | 1.52 | 1.30 | 1.29 | 4.23 | 4.02 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 652 | 701 | 741 | 797 | 699 | 1,157 | 1,435 | 1,371 | 1,486 | 1,426 | 1,454 | |
| 601 | 637 | 648 | 741 | 634 | 1,005 | 1,292 | 1,245 | 1,383 | 1,351 | 1,379 | |
| Operating Profit | 50 | 64 | 93 | 57 | 64 | 152 | 143 | 126 | 103 | 75 | 74 |
| OPM % | 7.74% | 9.06% | 12.51% | 7.10% | 9.17% | 13.12% | 9.96% | 9.20% | 6.93% | 5.26% | 5.10% |
| 2 | 5 | 2 | 8 | 4 | 1 | 2 | 8 | 7 | 17 | 14 | |
| Interest | 13 | 18 | 16 | 18 | 21 | 21 | 25 | 30 | 29 | 30 | 29 |
| Depreciation | 12 | 15 | 13 | 13 | 18 | 25 | 27 | 27 | 28 | 28 | 28 |
| Profit before Tax | 28 | 36 | 66 | 33 | 30 | 107 | 93 | 77 | 53 | 34 | 45 |
| Tax % | 32.52% | 36.35% | 36.83% | -1.42% | 25.28% | 28.05% | 24.37% | 27.88% | 25.34% | 23.47% | 24.47% |
| Net Profit | 19 | 23 | 42 | 34 | 23 | 77 | 70 | 56 | 39 | 26 | 34 |
| EPS | 0.00 | 31.20 | 0.00 | 0.00 | 15.32 | 49.47 | 44.90 | 35.60 | 12.64 | 8.35 | — |
| Dividend Payout % | 19.43% | 20.83% | 26.56% | 8.81% | 19.58% | 20.21% | 17.82% | 22.47% | 7.91% | 11.98% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 10%
- 5 Years:
- 15%
- 3 Years:
- 0%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 1%
- 5 Years:
- 3%
- 3 Years:
- -28%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- -8%
- 1 Year:
- -8%
RETURN ON EQUITY
- 10 Years:
- 11%
- 5 Years:
- 12%
- 3 Years:
- 8%
- Last Year:
- 5%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 7 | 7 | 15 | 15 | 15 | 16 | 16 | 16 | 16 | 16 |
| 235 | 252 | 274 | 306 | 326 | 409 | 469 | 512 | 552 | 575 | |
| 118 | 170 | 171 | 302 | 271 | 246 | 298 | 306 | 301 | 344 | |
| Trade Payables | 31 | 37 | 29 | 41 | 41 | 47 | 53 | 70 | 73 | 69 |
| 50 | 63 | 86 | 89 | 98 | 112 | 138 | 136 | 128 | 126 | |
| Total Liabilities | 441 | 528 | 575 | 753 | 750 | 830 | 973 | 1,040 | 1,069 | 1,130 |
| 227 | 211 | 229 | 228 | 373 | 360 | 412 | 412 | 433 | 420 | |
| Capital Work in Progress | 10 | 14 | 66 | 181 | 67 | 64 | 16 | 29 | 17 | 9 |
| 39 | 64 | 93 | 49 | 47 | 104 | 116 | 121 | 91 | 113 | |
| 54 | 92 | 53 | 152 | 101 | 96 | 168 | 218 | 215 | 287 | |
| 0 | 0 | 0 | 0 | 0 | 67 | 80 | 79 | 113 | 94 | |
| Cash & Bank | 7 | 8 | 11 | 12 | 12 | 12 | 12 | 15 | 16 | 16 |
| 104 | 139 | 122 | 130 | 151 | 127 | 168 | 165 | 183 | 191 | |
| Total Assets | 441 | 528 | 575 | 753 | 750 | 830 | 973 | 1,040 | 1,069 | 1,130 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 47 | 20 | 144 | -39 | 96 | 141 | 28 | 66 | 56 | 2 | |
| Cash from Investing | -29 | -38 | -94 | -73 | -41 | -103 | -41 | -36 | -0 | -9 |
| Cash from Financing | -21 | 25 | -29 | 125 | -49 | -38 | 13 | -27 | -56 | 7 |
| -10 | 0 | 3 | 1 | -0 | 0 | 0 | 3 | 0 | -0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-08 - Sukhjit Starch & Chemicals Limited has informed the Exchange that the company has signed a Memorandum of Understanding (MoU), today, for setting up of a new, state of the art Maize Processing Unit with a maize grind capacity of 1200 TPD, for production of Maize Starch and its derivatives, entailing a CapEx of about Rs 500 Crores, in District Nashik of Maharashtra State.
2026-08-26 - Sukhjit Starch & Chemicals Limited has informed the Exchange regarding Proceedings of undefined held on August 14, 2026. Further, the company has informed the Exchange regarding voting results along with copy of scrutinizers report together with copy of minutes.
2026-08-26 - Outcome of AGM/ Declaration of Voting Results of the 82nd Annual General Meetingof the Company held on Wednesday, 26th August, 2026.
2026-07-31 - Sukhjit Starch & Chemicals Limited has informed the Exchange about Copy of Newspaper Publication of Notice of the Annual General Meeting and Notce of E-voting.
2026-07-31 - Sukhjit Starch & Chemicals Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 26, 2026
2026-07-31 - Sukhjit Starch & Chemicals Limited has informed the Exchange regarding filing of Machine readable copy.
2026-07-30 - Sukhjit Starch & Chemicals Limited has informed the Exchange about Copy of Newspaper Publication of Unaudited Financial Results for the Quarter ended 30 June, 2026.
2026-07-29 - Sukhjit Starch & Chemicals Limited has informed the Exchange regarding the Press / Investor Release for Unaudited Financial Results of the Company for the quarter ended June 30, 2026.
2026-07-29 - Sukhjit Starch & Chemicals Limited has submitted to the Exchange, the unaudited financial results for the period ended June 30, 2026.
News
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