Sukhjit Starch & Chemicals Ltd, an agro-processing company that specializes in the production of starch and its derivatives, has announced revenue of Rs. 390.42 crore in Q1 FY25 quarter ended 30th June, 2024.

Q1 FY25 revenue from operations stood at Rs. 389.83 crs against Rs. 322.18 crores, registering a growth of 21% over the corresponding quarter of previous year. EBITDA stood at Rs. 32.04 crore in Q1 FY25 as against Rs. 28.84 crore in Q1 FY24. Net Profit after tax stood at Rs. 13.61 crore in Q1 FY25 as against Rs. 13.04 crore in Q1 FY24.

Our expansion is progressing as per schedule and the results of partial commissioning should start coming in from Q3, strategically positioning us for future growth.

The board has considered and approved the split/sub-division of the existing equity shares of the company having face value of Rs.10 per share fully paid-up into two equity shares of face value of Rs. 5 per share, subject to the approval of shareholders through postal ballot.

Commenting on the results, K. K. Sardana, Managing Director, Sukhjit Starch and Chemicals Ltd. said, "We are pleased to report our Q1 results, showcasing a significant revenue growth of 21% year on year. This impressive performance is primarily driven by a robust increase in volumes across our product lines. Our strategic initiatives aimed at expanding market reach and enhancing customer engagement have contributed significantly to this growth. We are also witnessing a notable increase in rural demand within the FMCG sector."

"Furthermore, global opportunities are increasing due to new environmental regulations in China, which are opening avenues for export growth. We also expect improved margins due to stabilized product sale prices and favourable rates for maize (our basic raw material), thanks to the positive monsoon forecast from the IMD," commented Sardana.

"To support this growth, we plan to expand our capacity by 1,000 tons over the next three years, bringing our total capacity to 3,000 tons. This strategic expansion will drive sustained volume growth and enhance our market position in the maize processing industry," said Sardana.

"Built on a strong foundation and driven by a forward-looking strategy, we are exceptionally positioned to seize emerging opportunities and drive sustainable growth in the coming years. Our dedication to innovation, quality, and customer satisfaction remains at the core of our success, creating lasting value for our stakeholders. We are confident that our strategic initiatives will equip us to effectively navigate the ever-evolving market landscape and achieve our ambitious goals," added Sardana.