Sanstar export turnover reaches Rs 14.78 crore in H1 FY2027

Sanstar Biopolymers Ltd reported Rs 14.78 crore of export turnover in H1 FY2027; exports accounted for 34% of revenue, and Asia supplied 49% of overseas sales. Quarterly export turnover rose 17.1% year on year to Rs 7.55 crore in Q2 FY2027 from Rs 6.45 crore in Q2 FY2026.

How much export revenue did Sanstar report in H1 FY2027?

Sanstar reported Rs 14.78 crore in export turnover for H1 FY2027, alongside Rs 42.44 crore of revenue from operations for the six-month period. The presentation does not provide an H1 FY2026 export-turnover figure, so its disclosed year-on-year export comparison applies to Q2 FY2027 rather than the half year.

In Q2 FY2027, Sanstar’s export turnover was Rs 7.55 crore, compared with Rs 6.45 crore in Q2 FY2026. The Rs 1.10 crore increase represented 17.1% growth, compared with an 11.1% rise in quarterly operating revenue to Rs 21.83 crore from Rs 19.64 crore. Management attributed the export increase to steady overseas customer demand and the company’s established international-market presence.

Sanstar describes exports as contributing 34% of revenue and says it serves 34 countries across all continents. It also reported FY2026 export revenue of Rs 26.57 crore and an export-sales compound annual growth rate of 26% from FY2021 to FY2026. These annual data points provide historical context but do not amount to a FY2027 export-revenue target.

Which regions account for Sanstar’s export sales?

Asia accounted for 49% of Sanstar’s export sales, making it the largest disclosed geographic contributor. Africa represented 22%, the Middle East 16%, America 12%, and Europe and Oceania 1%, according to the geographic mix presented for the export business.

Asia and Africa together therefore accounted for 71% of overseas sales, while America, Europe and Oceania combined represented 13%. The Middle East made up the remaining 16%. Sanstar says North America and Europe have a growing share of exports, but it does not disclose revenue, a comparison period or growth rates for either market.

Sanstar’s Kutch, Gujarat facility is 100 kilometres from Mundra Port and 55 kilometres from Kandla Port, while its Dhule, Maharashtra facility is 275 kilometres from Hazira Port and 410 kilometres from Nhava Sheva. The company says Kutch is registered with the United States Food and Drug Administration and lists Hazard Analysis and Critical Control Points and Food Safety System Certification 22000 among its certifications.

How did Sanstar’s broader H1 FY2027 performance change?

Sanstar’s revenue from operations rose 15.9% year on year to Rs 42.44 crore in H1 FY2027 from Rs 36.61 crore in H1 FY2026. Gross profit increased to Rs 13.97 crore from Rs 8.99 crore, while gross-profit margin widened to 32.9% from 24.5% over the same period.

Earnings before interest, tax, depreciation and amortisation, or EBITDA, excluding other income, increased to Rs 2.37 crore in H1 FY2027 from Rs 40 lakh in H1 FY2026. Profit after tax rose to Rs 1.51 crore from Rs 30 lakh, with the profit-after-tax margin increasing to 3.6% from 0.1%. The presentation records 55.4% year-on-year growth in H1 gross profit.

The quarter-on-quarter pattern differed from the half-year comparison. Q2 FY2027 EBITDA was Rs 83 lakh, below Rs 1.54 crore in Q1 FY2027, while Q2 profit after tax was Rs 59 lakh, compared with Rs 92 lakh in Q1. Q2 gross-profit margin was nevertheless 32.4%, up from 24.8% in Q2 FY2026, as quarterly operating revenue increased to Rs 21.83 crore.

What could affect Sanstar’s export business next?

Management said Sanstar entered the second half of FY2027 with expanded capacity, stable plant operations and a wider product portfolio, and would focus on facility utilisation, value-added products, and domestic and export markets. The company has installed capacity of 2,350 tonnes per day, comprising 2,000 tonnes per day at Dhule and 350 tonnes per day at Kutch.

Sanstar expects to commission its derivatives facility in FY2026-27, following commissioning of the native-starch plant in its expansion programme. The programme increased total capacity from 1,100 tonnes per day to 2,350 tonnes per day. Dextrose anhydrous is listed as an upcoming product that will be made as part of the ongoing expansion.

Management identified competitive native-starch pricing as an operating issue, linking it to Chinese exports into South East Asia and the resulting excess supply in India. It also said improved geopolitical conditions and easing regional uncertainty supported export shipments and market activity in Q2 FY2027. These statements identify operating factors but do not provide a quantified forecast for export turnover or regional sales.

Conclusion

Sanstar’s Rs 14.78 crore H1 FY2027 export turnover was part of a business that the company says accounts for 34% of revenue and serves 34 countries. Asia’s 49% contribution makes it the largest disclosed export region, while Q2 export turnover growth of 17.1% exceeded the quarter’s 11.1% increase in operating revenue.

The next disclosed operational milestone is commissioning of the derivatives facility in FY2026-27, after capacity increased to 2,350 tonnes per day through the native-starch plant expansion. Investors can watch whether higher utilisation and a greater contribution from value-added products offset the native-starch pricing pressure management associates with Chinese exports and excess supply in India.