Saboo Sodium Chloro Ltd began as a salt refinery in 1993 and grew into what it calls “the largest salt refinery in North India” - a business built on turning raw salt into branded, triple-refined table salt and industrial grades for customers across the region. In 2017 it stepped into luxury hospitality, opening a five-star resort in Jaipur the following year, and it has since assembled a pipeline of resort projects across Rajasthan and beyond while adding captive solar power that now meets up to 80% of its factory’s energy needs. The recurring pattern is visible across all three engines: own the core asset, use internal cash to build the next one, and wherever possible let the sun cut the running costs. # Business segments Three engines at different stages - a salt-manufacturing foundation that pays the bills, a luxury-resort platform being assembled property by property, and a small solar-power business that feeds electricity to the grid - each built with the cash flows of the one before. ## 1. Salt manufacturing: the refinery that funds everything else **A North Indian salt refinery selling branded iodized salt to households and industrial salt to businesses, with solar panels cutting its factory power bill by roughly ₹75 lakh a year.** - **Refines, doesn’t just mine** - the company takes raw salt and triple-refines it into free-flow iodized salt sold under the Surya, Tota and Saboo labels, alongside all types of industrial salt, from its main factory in Nawa City, Nagaur, Rajasthan and a second unit in Phalodi, Jodhpur. - **Solar gives it a cost edge** - a 300 KWP grid-tied solar plant plus an older 100 KWP unit at the Nawa factory supply up to 80% of the refinery’s electricity, which the company says makes it the first salt refinery in India to run on that much solar, saving an estimated ₹75 lakh annually. - **Sells to kitchens and factories** - the customer base splits between B2C (branded salt on retail shelves) and B2B (industrial buyers), with the company estimating the refined iodized salt market is growing 15% every year as households switch from loose, unbranded salt. - **Stretching the brand into adjacent FMCG** - in 2021 it launched Double Tota Tea and Aayush Detergent on a capital-lean model, outsourcing production while using its existing 30-year salt-distribution network to get the products to market. - **A related-party buyer provides a floor** - a significant portion of salt is sold to Spectrum Foods Limited, a group company with a common Managing Director, which itself owns a 200,000-tonne-per-annum salt refinery in Phalodi. ## 2. Hospitality: a luxury-resort pipeline under the Samskara brand **A collection of owned and planned five-star resorts across Rajasthan and Maharashtra, funded from internal accruals and structured for a potential separate public listing.** - **The flagship that started it all** - Samskara Resort & Spa, a five-star property in Jaipur, opened in September 2018 and has since been marketed under a management contract with Ananta Hotels & Resorts, with active negotiations later reported for a tie-up with Radisson Hotel Group. - **Bought, not just built** - the pipeline has been assembled through land acquisitions: roughly 40,000 square metres in Jawai for a 120-room leopard-reserve resort, about 23,300 square metres near Udaipur airport for a palace-style hotel of up to 250 rooms, and approximately 26 acres near Tadoba National Park in Maharashtra for a 150-key wildlife resort. - **Government subsidies lower the build cost** - projects registered under Rajasthan’s RIPS 2024 and ‘Rising Rajasthan’ policies get capital subsidies of up to 20% of eligible fixed investment, full stamp-duty and conversion-charge exemptions, and electricity-duty waivers for seven years; the Jawai project alone estimates total subsidy savings exceeding ₹15 crore over a decade. - **A minority stake in Jaipur’s largest hotel development** - through its 20% holding in Villashare Tech Private Limited, the company is a partner in Samskara Bagru, a 225-key five-star resort on Ajmer Road, Jaipur, with full construction underway and an expected opening around August 2027. - **Heading for a separate listing** - management has publicly evaluated moving the hospitality assets into the wholly owned subsidiary Samskara Resorts Private Limited and then taking it public via a fresh-issue IPO in the range of ₹75-105 crore, with SSCL retaining majority control and using the proceeds to expand the portfolio debt-free. ## 3. Renewable energy: a small solar plant selling to the grid **A solar power plant in Madhya Pradesh that generates electricity for sale on the Indian Energy Exchange, separate from the captive solar that powers the salt factory.** - **Merchant power, not captive use** - the plant at Rajgarh, Madhya Pradesh, sells its output to the Indian Energy Exchange and Power Exchange India Limited, making it a standalone revenue stream distinct from the rooftop solar at the refinery and the resort. - **Solar thinking runs through the group** - beyond the grid-connected plant, the company has installed 75 KW of solar at Samskara Resort & Spa and had planned a further 300 KWP grid-tied system there, extending the same cost-saving logic from the factory to the hospitality business. # Group structure and partners **A promoter-led listed company that is consolidating its hospitality assets into a wholly owned subsidiary while holding minority stakes in a related salt company and a hotel developer.** - The Managing Director and Promoter, Mr. Girdhar Saboo, held 45.60% of the shares as of FY25, and the company rents its registered office from him. - SSCL owns 5.71% of Spectrum Foods Limited, a group company that runs a salt refinery, a windmill, and a resort project in Pushkar, and which in turn holds 1.56% of SSCL; the two companies also trade salt with each other. - The hospitality subsidiary Samskara Resorts Private Limited became wholly owned in October 2025 after SSCL bought out the 20% held by the promoter and his family, and the flagship Jaipur resort is being transferred into it as a going concern. - Strategic hospitality partners have included Ananta Hotels & Resorts for resort management, Dusit Thani International for a planned Jaipur development, and Radisson Hotel Group in active negotiations for the Samskara Jaipur property.