Sigachi Industries Ltd — Q3 FY26

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.