Latest news with #Sigachis
Business Standard
6 days ago
- Business
- Business Standard
Sigachi commences civil works for its Microcrystalline Cellulose (MCC) project at Dahej SEZ
Sigachi Industries has announced the initiation of civil works for its next phase of capacity expansionXan advanced 12,000 MTPA Microcrystalline Cellulose (MCC) project at its Dahej SEZ unit in Gujarat. This strategic move aligns with Sigachis long-term vision of operational resilience, safety-first design, and continued global leadership in the excipient industry. The company said, "While the investigation committee continues its work on the recent tragedy at Sigachis Pashamylaram unit, the Company is actively building forward. The Dahej MCC Project reflects Sigachis determination to rise stronger, with smarter systems, globally benchmarked safety features, and capacity augmentation focused on uninterrupted supply to its valued global clientele. Key Highlights of the Expansion Strategy: h 12,000 MTPA MCC Capacity to be added at Dahej SEZ, operational within 9 months. h Designed for Safety & Excellence: The new Spray Dryer system is being procured in consultation with reputed equipment manufacturers and safety experts. h Total Installed MCC Capacity will rise to 30,000 MTPA, cementing Sigachis position as the Largest Manufacturer in India and among the top in the world. h Reinforced Business Continuity: This new capacity at Dahej SEZ, along with increased production at our Jhagadia and Dahej SEZ (existing) facilities, will help us continue serving our customers without any disruption in supply".
Business Standard
28-07-2025
- Business
- Business Standard
Sigachi Industries reports dismal Q1 outcome
Sigachi Industries reported a standalone net loss of Rs 100.35 crore in Q1 FY26 as against a net profit of Rs 13.16 crore posted in Q1 FY25. However, revenue from operations jumped 34% year on year to Rs 128.25 crore in Q1 FY26. The company reported profit before exceptional items and tax of Rs 20.01 crore in Q1 FY26, compared to Rs 16.39 crore recorded in the same period a year ago. The firm reported exceptional loss items of Rs 121.01 crore during the quarter. EBITDA stood at Rs 24.1 crore in Q1 FY26, up 14.76% YoY. EBITDA margin declined to 18.79% in Q1 FY26 from 21.94% in Q1 FY25. Total expenses rallied 38.51% to Rs 112.18 crore in Q1 FY26, compared to Rs 80.99 crore reported in Q1 FY25. The cost of materials consumed stood at Rs 61.62 crore (up 47.28% YoY), and employee benefit expenses were at Rs 19.55 crore (up 29.13% YoY) during the period under review. Sigachi Industries has reset its strategic priorities after a recent fire at its Pashamylaram plant in Hyderabad. The company said its quick response helped minimize disruption to operations. It has now begun a strategic review with a renewed focus on safety, sustainability, and long-term growth. Meanwhile, the production of microcrystalline cellulose (MCC) from the affected plant has been shifted to Sigachis units in Dahej and Jhagadia, Gujarat. The company said restoration work at the Hyderabad plant will begin soon, with phased recommissioning to follow. Amit Raj Sinha, managing director and chief executive officer of Sigachi Industries, said, Q1 FY26 has been an emotionally and operationally challenging quarter for us. The tragic incident led to the loss of lives and injuries among our workforce, and we extend our deepest condolences to all affected. Our immediate focus was on supporting families, ensuring medical care, and cooperating fully with authorities. 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 have initiated phased restoration. While insurance claims have been filed, no deferred income has been accounted for. This event has prompted a comprehensive review of our operational controls and risk governance. Looking ahead, we are committed to a decisive reset, prioritizing safety, accelerating cost improvements, focusing on margin-led portfolios, and rebuilding with global standards, resilience, and transparency. With the lessons behind us and our resolve strengthened, we are confident in our ability to deliver sustainable growth and improve EBITDA margins. Sigachi Industries is one of the leading manufacturers of microcrystalline cellulose (MCC) in the domestic as well as the international market, supplying essential molecules for pharma excipients, nutraceuticals, cosmetics, and food industries. Shares of Sigachi Industries rose 0.87% to Rs 39.46 on the BSE.
Time of India
02-07-2025
- General
- Time of India
Deadly work
Times of India's Edit Page team comprises senior journalists with wide-ranging interests who debate and opine on the news and issues of the day. India has the most dangerous factories. Undercounting accidents does nothing to improve safety The toll of Monday's industrial accident in Hyderabad has risen to 40 dead and 33 injured. Painful as it is, the fact that this unit of Sigachi Industries – feted as a 'multibagger' until recently – was running without basic safety systems like fire alarms and heat sensors raises questions about the value assigned to workers' lives. While the management didn't commission a safety audit, the state's guilty of dereliction of duty because it allowed the factory to operate without a fire department NOC. Countless Sigachis have occurred in India over the years. Bhopal remains the world's worst industrial disaster, but blasts, fires, gas leaks, electrocutions occur with sickening frequency. Per govt data, there were 5,336 deaths in factories in the five years from 2018 to 2022. But these numbers don't tell the full story. They have been sourced from the formal sector, which accounts for a very large part of India's industrial output, but not its factory employment. Fact is, almost 90% of India's industrial labour works in the informal sector, where wages, productivity and working conditions are abysmal, and safety not even an afterthought. ILO data shows India is the most dangerous country for factory workers, with 117 deaths in workplace accidents for every 1L workers. The number is 3.7 for America. In Europe, Germany, Denmark and Switzerland report only 1.3-1.4 deaths per 1L workers. Oddly, these countries report far more non-fatal occupational injuries per 1L workers – Denmark (3,581), Germany (1,496), Switzerland (2,293), as against 325 in India. Is it possible that Switzerland's factories are more hazardous than India's? It's clear that India is massively undercounting industrial accidents. A study based on industrial accident data from Dadra and Nagar Haveli in 2017 found that police recorded only 30% of deaths, and health facilities 70%, although every accident death should result in an FIR. India's factory workers won't be safe until accountability is fixed every time. For that, we'll have to stop brushing these accidents under the carpet. Facebook Twitter Linkedin Email This piece appeared as an editorial opinion in the print edition of The Times of India.
