Sigachi Inds plunges into losses after Hyd plant explosion leaves 46 dead
The company, which claims to be one of the largest global manufacturers of microcrystalline cellulose (MCC) used as a binding or bulking agent in pharma, food, and personal care sectors, said it slipped into losses despite a 34% jump in revenues to ₹128 crore in Q1FY26 compared to nearly ₹96 crore in Q2FY25.
The company said it has reallocated MCC production of the Pashamylaram plant in Hyderabad across its Dahej and Jhagadia units in Gujarat and will be commencing restoration and phased recommissioning at the Hyderabad unit.
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Terming Q1FY26 as an emotionally and operationally challenging quarter, Sigachi Industries managing director & CEO Amit Raj Sinha said the incident disrupted manufacturing operations, damaged plant infrastructure and inventory, and delayed shipments, impacting revenue and margins.
"We activated emergency protocols, launched a detailed safety audit, and initiated phased restoration. While insurance claims were filed, no deferred income was accounted for. This event has prompted a comprehensive review of our operational controls and risk governance."
He said the company was undergoing a strategic review to realign operations with a renewed focus on safety, sustainability and growth.
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