Sigachi Industries Ltd
Incorporated in 1989, Sigachi Industries Ltd is a manufacturing and selling of MCC.[1]
- Market Cap ₹ 735 Cr.
- Current Price ₹ 19.2
- High / Low ₹ 59.6 / 18.2
- Stock P/E 18.3
- Book Value ₹ 13.3
- Dividend Yield 0.52 %
- ROCE 15.5 %
- ROE 13.5 %
- Face Value ₹ 1.00
Pros
Cons
- Promoter holding has decreased over last quarter: -0.78%
- Company has a low return on equity of 11.4% over last 3 years.
- Promoters have pledged 40.3% of their holding.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Healthcare Healthcare Pharmaceuticals & Biotechnology Pharmaceuticals
Part of BSE Healthcare BSE Allcap
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 101 | 129 | 139 | 193 | 250 | 302 | 399 | 488 | 484 | |
| 89 | 103 | 114 | 154 | 197 | 243 | 322 | 388 | 418 | |
| Operating Profit | 12 | 26 | 25 | 39 | 53 | 59 | 77 | 100 | 66 |
| OPM % | 12% | 20% | 18% | 20% | 21% | 19% | 19% | 20% | 14% |
| 3 | 4 | 5 | 3 | 3 | 7 | 12 | 21 | -108 | |
| Interest | 4 | 3 | 2 | 1 | 1 | 4 | 8 | 12 | 13 |
| Depreciation | 1 | 2 | 2 | 2 | 3 | 7 | 11 | 16 | 18 |
| Profit before tax | 10 | 25 | 25 | 38 | 52 | 54 | 70 | 92 | -73 |
| Tax % | 28% | 23% | 20% | 21% | 22% | 20% | 18% | 24% | |
| 7 | 19 | 20 | 30 | 40 | 44 | 57 | 70 | -74 | |
| EPS in Rs | 2.25 | 6.19 | 2.65 | 3.94 | 1.30 | 0.00 | 1.74 | 1.82 | -1.99 |
| Dividend Payout % | 4% | 2% | 4% | 0% | 8% | 6% | 5% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 29% |
| 3 Years: | 25% |
| TTM: | 4% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 28% |
| 3 Years: | 20% |
| TTM: | -44% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -8% |
| 1 Year: | -49% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 15% |
| 3 Years: | 11% |
| Last Year: | 14% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 8 | 8 | 31 | 31 | 33 | 38 | 38 |
| Reserves | 23 | 42 | 57 | 87 | 197 | 238 | 397 | 563 | 470 |
| 30 | 25 | 30 | 21 | 35 | 68 | 151 | 142 | 145 | |
| 16 | 21 | 14 | 18 | 24 | 37 | 113 | 103 | 198 | |
| Total Liabilities | 72 | 91 | 109 | 133 | 287 | 374 | 694 | 846 | 851 |
| 26 | 29 | 32 | 38 | 53 | 122 | 254 | 370 | 327 | |
| CWIP | 1 | 2 | 3 | 4 | 10 | 35 | 97 | 9 | 16 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 46 | 61 | 74 | 92 | 224 | 216 | 342 | 467 | 508 | |
| Total Assets | 72 | 91 | 109 | 133 | 287 | 374 | 694 | 846 | 851 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| 8 | 14 | 12 | 30 | 6 | 29 | 13 | 27 | |
| -4 | -6 | -7 | -11 | -63 | -92 | -161 | -93 | |
| -5 | -9 | 3 | -11 | 108 | 26 | 172 | 81 | |
| Net Cash Flow | -1 | -0 | 8 | 7 | 51 | -37 | 24 | 15 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 77 | 70 | 72 | 68 | 88 | 97 | 137 | 137 |
| Inventory Days | 99 | 123 | 141 | 77 | 94 | 123 | 132 | 155 |
| Days Payable | 52 | 48 | 37 | 29 | 33 | 55 | 90 | 59 |
| Cash Conversion Cycle | 124 | 145 | 177 | 116 | 149 | 165 | 180 | 234 |
| Working Capital Days | 7 | 43 | 59 | 70 | 86 | 85 | 63 | 103 |
| ROCE % | 44% | 34% | 38% | 28% | 20% | 17% | 16% |
Insights
In beta| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Actual MCC Production Volume MT |
|
||||||
| Total Installed MCC Capacity MTPA |
|||||||
| Export Share in Revenue % |
|||||||
| Global Presence (Countries) Count |
|||||||
| Overall MCC Capacity Utilization % |
|||||||
| Product Portfolio (SKU) Count |
|||||||
| Average Realization - MCC Rs/Kg |
|||||||
| R&D Expenditure (Percentage of Turnover) % ・Standalone data |
|||||||
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Credit Rating
25 Feb - CARE downgraded Sigachi to CARE BBB/A3 (RWN) Feb 24, 2026; proposed ₹125 crore NCDs; 9MFY26 loss ₹90.46cr.
- Transcript Of The Earnings Call For Q3 FY 2025-26 Results 20 Feb
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
16 Feb - Newspaper publication for Q3 FY 2025-26 Unaudited financial results
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
14 Feb - Sigachi Industries: Q3 FY2025-26 earnings call audio posted on company website (14 Feb 2026).
-
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
14 Feb - Rs286.45cr issue; Rs68.63cr unpaid; Rs0.43cr delayed; Hyderabad fire impacts capex.
Annual reports
Concalls
-
Feb 2026Transcript PPT REC
-
Oct 2025Transcript PPT REC
-
Aug 2025Transcript PPT REC
-
Jun 2025Transcript PPT REC
-
Jan 2025Transcript PPT
-
Nov 2024Transcript PPT
-
Aug 2024Transcript PPT
-
Jun 2024Transcript PPT REC
-
Jan 2024Transcript PPT REC
-
Nov 2023Transcript PPT
-
Nov 2023TranscriptPPT
-
Aug 2023TranscriptAI SummaryPPT
-
Aug 2023TranscriptAI SummaryPPT
-
May 2023TranscriptAI SummaryPPT REC
-
Feb 2023TranscriptPPT
-
Feb 2023Transcript PPT
-
Jan 2023TranscriptAI SummaryPPT
-
Dec 2022TranscriptAI SummaryPPT
-
Nov 2022Transcript PPT
-
Aug 2022TranscriptAI SummaryPPT
-
Jul 2022Transcript PPT
-
May 2022Transcript PPT
Business Overview:[1][2][3]
SIL is one of the largest manufacturers of Cellulose based excipients. The company manufactures MCC in 60 distinct grades ranging from 15 microns to 250 microns. With over 60+ products, the company is in the business of:
a) Active Pharmaceutical Ingredients
b) Intermediates
c) Pharmaceutical Excipients
d) Vitamin-mineral blends
e) Polymer blends
f) Food & Nutrition
g) Operations and Management services