Sigachi Industries Limited has informed the Exchange regarding a press release dated July 23, 2025, titled "Company begins Disbursing Interim Ex-Gratia to Families of DeceasedTeam Members.".
SIGACHI · price
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Sigachi Industries has begun paying interim compensation to families affected by a major incident at its Pashamylaram unit in Hyderabad. So far, ₹10 lakh each has been given to 15 families of deceased workers, ₹15 lakh each to families of 8 team members who remain unaccounted, and ₹1 lakh each as injury compensation to 25 employees — totalling about ₹5.80 crore disbursed. The incident involves 46 affected families in total, with three workers still hospitalised and all medical expenses being covered by the company. A detailed payment schedule for the remaining families is being finalised, and Sigachi has set up an internal task force while cooperating with an external safety review committee. MD & CEO Amit Raj Sinha described it as an 'unprecedented and difficult moment' and pledged full support to the affected families.
This reflects a serious workplace accident at Sigachi's Hyderabad plant, which is likely to weigh on near-term financials through compensation payouts, potential regulatory penalties, and possible production disruptions. Shareholders should watch for the external safety committee's findings, any further regulatory action, and the impact on operations at the Pashamylaram facility, as the event carries reputational and legal risk beyond the immediate costs.