Sigachi Industries Announces Q3 Results, Appoints New Chairman
Strong Q3 Performance
Sigachi Industries' shares closed Friday's trading session on the NSE 4.15% higher at ₹51.97 per share, with a market valuation of ₹1.66KCr. This followed the Board of Directors' announcement of the company's financial performance for the quarter ended December 31, 2024. The company's consolidated net profit for the third quarter (Q3 FY2025) jumped more than 30% YoY to ₹21.35 crore, compared to a net profit of ₹16.11 crore in the same quarter last year. The company's revenue from operations was ₹139.41 crore, up 25% YoY from ₹110.94 crore in the same quarter of the previous year, driven by a spike in customers.
Financial Highlights
The total income improved from ₹112.65 crore in Q3 of the previous fiscal year to ₹141.43 crore in the current quarter. Over the course of the quarter, the expenses rose to ₹114.72 crore. In a stock exchange filing, Sigachi Industries announced the "Appointment of Mr. Amit Raj Sinha, Managing Director & Chief Executive Officer of the Company as Chairman of the Board of the Company."
Warrant Conversion and Fund Collection
52,52,190 equity shares of Re.1/- each were issued to non-promoters upon the conversion of 5,25,219 warrants at an issue price of ₹261/-per share of ₹10/-(post-split: ₹26.10/- per share of Re.1/- each) on August 30, 2024. As of December 31, 2024, the company had collected ₹123.52 crores in compensation for the ₹286.45 crores allotted for convertible warrants.
GAIN Certification
Sigachi Industries Limited recently received audit certification from the Global Alliance for Improved Nutrition (GAIN). By adhering to GAIN's stringent guidelines and standards, Sigachi reaffirms its commitment to producing safe, high-quality, and nutritionally enhanced products. Intertek audited and certified Sigachi's Sultanpur, Hyderabad plant on behalf of GAIN. Sigachi is considering leveraging its BaseBlend® brand to serve the global premix market, with a 9000 MT/installed capacity that is GAIN Certified and a presence in 65 countries worldwide (in the food and pharmaceutical excipients sector).
Company Overview
The pharmaceutical firm Sigachi Industries Limited has been in business for over 33 years and is listed on both the NSE and the BSE. The company is involved in the development of APIs, O&M services, vitamin and mineral nutrition blends C and D, and excipients. Sigachi has five state-of-the-art facilities across Telangana, Gujarat, and Karnataka, and has reached customers in 62 countries so far. The company's headquarters are in Hyderabad, India, with a subsidiary in the United Arab Emirates.
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