Sayaji Industries Posts Turnaround in Q2 FY27

Revenue: Rs 263.55 crore | Net Profit: Rs 3.14 crore

Reader Takeaway: Strong recovery in the maize processing segment shifted the bottom line from losses to profit this quarter.

What just happened

Sayaji Industries reported a consolidated revenue of Rs 263.55 crore for the quarter ended September 30, 2026, reflecting a growth from Rs 249.31 crore reported in the same quarter last year. The company successfully reversed its year-ago loss of Rs 9.16 crore to post a net profit of Rs 3.14 crore for the current quarter.

Why this matters

The financial results demonstrate a marked improvement in operational efficiency. The profit before tax for the quarter reached Rs 3.87 crore, a significant swing from the Rs 12.42 crore loss reported in the corresponding period of the previous fiscal year. Total expenses were contained at Rs 261.49 crore, allowing the company to sustain a positive bottom line.

Segment Performance

The Agro Processing Maize division remains the company’s backbone, generating Rs 245.94 crore in revenue, up from Rs 230.46 crore a year ago. Meanwhile, the Spray Dried Food Products segment also saw growth, reaching Rs 10.61 crore. However, the Agri Seeds segment faced a decline, reporting revenue of Rs 7.36 crore compared to Rs 10.05 crore in Q2 FY26.

Accounting Update

Shareholders should note that the company transitioned from the FIFO (First-In, First-Out) method to a Weighted Average basis for inventory valuation, effective from the quarter ended June 30, 2026. This change has been applied retrospectively to all comparative periods.

What to track next

Investors should closely monitor the consistency of the core Agro Processing Maize segment and whether the current shift in profitability can be maintained amidst ongoing operational adjustments.