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Revenue
₹117.2 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
₹5.7 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Sigachi reported Q3 FY26 revenue of ₹117.2 crore with EBITDA of ₹5.7 crore (margin 4.6%) and a marginal net loss of ₹0.02 crore. The sharp margin compression was driven by the aftermath of the Hyderabad fire incident, including relocation of raw materials, higher transportation costs, and customs duty impacts. MCC segment revenue fell to ₹61.72 crore (53% of total) as production was constrained by safety audits and operational slowdowns. Management expects normalization by Q4 FY26 and a return to double-digit EBITDA margins by FY28. The 12,000 MTPA MCC expansion at Dehli SEZ and 1,800 TPA CCS facility remain on track for Q3 FY27 commissioning. Key risk: sustained margin pressure if production ramp-up is delayed or insurance claims are lower than expected.
Colored figures show movement against the previous available record.
Guidance to track
- 12,000 MTPA MCC expansion at Dehli SEZ on track for commissioning in Q3 FY27, taking total cellulose-based excipient capacity to 30,000 MTPA.
- 1,800 TPA CCS disintegrant facility at Dehli SEZ progressing well and expected to be commissioned in Q3 FY27.
- Management expects EBITDA margins to recover to double-digit levels by FY28 as new capacities absorb overheads and operations normalize.
- Company expects ₹250 crore revenue from cystic fibrosis API after commercialization, which is 12 months post-development.
Risks flagged
- EBITDA margin fell to 4.6% due to higher costs from material relocation, customs duties, and production slowdown. Recovery may be slower than expected.
- MD Amritraj Simha was arrested and released; case is sub judice. Further legal actions could impact management bandwidth and reputation.
- Total claim of ~₹70 crore is pending; ad hoc amount of ₹20-25 crore expected before March 31, but full settlement timeline is uncertain.
- Company may need to raise equity or debt for capex; no decision yet, which could lead to dilution or increased leverage.
Key quotes
- Our plants are running at plank capacity. Supply chains remain stable and customer demand continue to be strong.
- The action we have taken over the past few quarters have reinforced the resilience of our businesses and ensured that our long-term directions remain firmly on course.
- We don't see any challenges in the demand and the pricing erosion. Pricing also it is increasing and then demand is there.
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