Gujarat Ambuja Exports Limited (GAEL) is a prominent agro-processing conglomerate engaged in the manufacturing of Corn Starch Derivatives, Soya Derivatives, Feed Ingredients, Cotton Yarn, and Edible Oils. Incorporated on August 21, 1991, and promoted by Manish V. Gupta, GAEL has established itself as a pioneer in Maize products and Edible Oils, serving the Food, Pharmaceutical, and Animal Nutrition industries globally.
The company operates multiple manufacturing plants across Gujarat, Maharashtra, Madhya Pradesh, Uttarakhand, and Karnataka. GAEL is recognized for offering a comprehensive, one-stop solution for essential ingredients across various vital sectors.
The core business of Gujarat Ambuja Exports Limited lies in its Agro-processing division. This segment encompasses the manufacturing of:
- Corn Starch Derivatives: Including maize starch, dextrins, maltodextrin, dextrose anhydrous, dextrose monohydrate powder, high maltose corn syrup, and liquid glucose.
- Soya Derivatives: Such as defatted and full-fat soya flour/flakes/grits, liquid soya lecithin, and soya granules/nuggets.
- Feed Ingredients: Like corn/maize gluten meal, rapeseed extraction meal, and soybean meal.
- Edible Oils: A diverse range including refined soybean oil, filtered groundnut oil, refined cottonseed oil, refined palm oil, refined corn oil, vanaspati ghee, and bakery shortening.
The division also includes operations in solvent extraction, flour milling, and cattle feed production.
GAEL also operates a Spinning division, contributing to its diversified business model.
Reflecting its commitment to sustainability, GAEL has ventured into renewable energy through its Renewable Power Division. This involves establishing power generation facilities using wind and solar energy, with revenue generated from the sale of electricity to the grid and through power purchase agreements.
- Net Profit: ₹31.90 crore (down 65.09% YoY).
- Net Sales: ₹1266.62 crore (down 5.93% YoY).
- Net Profit: ₹249.33 crore (down 27.91% YoY).
- Net Sales: ₹4612.58 crore (down 6.38% YoY).
- Market Capitalization: ₹5,260 Cr (as of recent data).
- PE Ratio: 20.65
- PB Ratio: 1.72
- Credit Rating: CARE AA-; Stable for long-term bank facilities.
Gujarat Ambuja Exports Limited is almost debt-free, demonstrating a strong balance sheet and consistent financial performance. Despite inherent risks associated with agricultural commodity exposure and foreign exchange volatility, the company maintains a robust financial standing.
- Sitarganj Unit: Commercial production has commenced at the Greenfield 1200 TPD Maize Processing Unit in Sitarganj, Uttarakhand (as of March 26, 2025).
- Consolidated Maize Processing Capacity: Increased to 5200 TPD.
- Future Target: Aiming to reach 6000 TPD by 2026.
- Sitarganj Facility: Now the largest Maize Processing Unit in India, with a crushing capacity of 1950 TPD, Native Starch Capacity of 800 TPD, and value-added starch derivatives capacity of 550 TPD.
- Maiz Citchem (MCL): The Board approved the acquisition of a 25% stake (50,00,000 equity shares) in Maiz Citchem from M/s. SMAS Investors LLP at ₹10 per equity share. Upon completion, MCL will become a wholly-owned subsidiary.
- The company announced its audited FY25 results on May 17, 2025, recommending a final dividend of 25%, subject to shareholder approval.
- Chairman: Manish V. Gupta
- Company Secretary: Kalpesh Dave
- Promoter Holding: Increased to 63.84% as of March 2025 (from 63.84% as of June 2024).
Gujarat Ambuja Exports Management (GAEL) maintains an optimistic outlook with ambitious expansion plans, particularly in its maize processing vertical. The company aims to significantly grow and diversify this segment, reinforcing its position in the agro-ingredients supply chain.
GAEL identifies its maize processing division as a key growth driver, with plans to:
- Expand its product portfolio in the corn-based sector.
- Explore and introduce new products within this domain not yet available in the Indian market.
- Leverage government support for the fermentation sector.
- Pursue both brownfield and greenfield expansion projects, targeting a capacity of 6,000 TPD by 2025.
Gujarat Ambuja Exports Limited stands as a well-established entity in India's agro-processing sector, boasting a diversified product range and a strong market presence. Despite recent financial headwinds reflected in declining profits, the company's strategic expansion initiatives, debt-free status, and focus on capacity enhancement position it favorably for future growth within the agricultural value chain.
