NSE: SICAGEN · BSE: 533014
SICAGEN INDIA LIMITED
Operates trading and manufacturing businesses spanning cables, building materials and speciality chemicals, with consolidated FY26 revenue of Rs. 973.48 crore and net profit of Rs. 18.07 crore. The Manufacturing segment includes Wilson Cables, a cables subsidiary that drove segment revenue growth in FY26, while the Trading segment is reported separately. Other divisions referenced in filings include a Building Material Division and a Speciality Chemical Division. Materials and traded goods form the largest cost at 47.1% of revenue, with employees at 3.2% and other operating expenses at 4.4%. EBITDA margin stood at around 5% in FY26, reflecting thin trading-style margins. Total assets were Rs. 739.53 crore at FY26 end. The board recommended a 10% equity dividend (Rs. 1 per share) for FY2025-26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Trading, Manufacturing, Building Materials, Speciality Chemicals. Trading-led group with thin margins, spanning cables manufacturing, building materials and speciality chemicals
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 836 | 895 | 795 | 892 | 973 |
| EBITDA (ex other income) | 13 | 33 | 27 | 38 | 39 |
| margin % | 1.6 | 3.7 | 3.4 | 4.2 | 4.0 |
| Owners' profit | (1) | 18 | 10 | 0 | 0 |
| EPS, as reported (₹) | (0.15) | 4.50 | 2.65 | 4.32 | 4.57 |
| ROE % · ROCE % | (0.1) · 2.5 | 4.1 · 6.7 | 2.3 · 5.1 | 3.5 · 7.0 | 3.7 · 7.4 |
| Debt / equity (x) | 0.19 | 0.24 | 0.23 | 0.27 | 0.29 |
| Cash from operations | (4) | 15 | 25 | 6 | 44 |
| Capex | (1) | (5) | (4) | (3) | (6) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 232 | 198 | 210 | 252 | 205 | 227 | 264 | 278 |
| Profit before tax | 6 | 6 | 6 | 6 | 6 | 6 | 7 | 6 |
| Net profit | 5 | 4 | 4 | 4 | 5 | 4 | 5 | 4 |
| EPS (₹) | 1.21 | 1.05 | 1.06 | 1.00 | 1.15 | 1.04 | 1.25 | 1.13 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Trading | 153 | 15.7 |
| Manufacturing | 125 | 12.9 |
| TRADING | 380 | 39.0 |
| MANUFACTURING | 316 | 32.5 |
| Total, before eliminations | 974 | 100.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 12.3 | 14.6 | 131 of 320 | 59% |
| P/B | 0.5 | 1.3 | 63 of 346 | 82% |
| ROCE | 4.9 | 3.2 | 162 of 398 | 59% |
| ROE | 3.6 | 3.1 | 169 of 370 | 55% |
| Debt / Equity | 0.3 | 0.1 | 223 of 347 | 36% |
| EBITDA margin | 4.0 | 6.3 | 222 of 380 | 42% |
| Revenue growth | 10.4 | 8.9 | 163 of 332 | 51% |
| Profit growth | 12.3 | 9.8 | 182 of 374 | 52% |
| Market cap | 222 | 45 | 113 of 422 | 73% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 2 Nov 2026 · Consolidated Sep 2026 quarter: revenue up 45%, profit after tax up 116% year on year | results | high | — | — |
| 2 Nov 2026 · Sicagen Sept 2026 quarter: consolidated revenue Rs 32,795 lakh vs 22,676 lakh, net profit up 116% | results | high | — | — |
| 28 Oct 2026 · Board meeting to approve September 2026 quarterly and half-year results | results | low | — | — |
| 7 Oct 2026 · Routine RTA certificate on share dematerialisation for Sep 2026 quarter | compliance | minimal | — | — |
| 28 Sept 2026 · Intimation of Trading Window Closure for the Quarter & Half year ended 30th September, 2026. | compliance | minimal | — | — |
| 18 Sept 2026 · 22nd AGM results: all resolutions passed, equity dividend declared | board shareholder meetings | low | — | — |
| 17 Sept 2026 · Sicagen 22nd AGM: 10% dividend declared, standalone PBT down 15% | board shareholder meetings | medium | — | — |
| 27 Aug 2026 · Letter to shareholders with Annual Report web link for FY 2025-26 | compliance | minimal | — | — |
| 27 Aug 2026 · 22nd AGM notice published; e-voting and book closure details | compliance | minimal | — | — |
| 26 Aug 2026 · Sicagen sends PAN/KYC update letters to physical shareholders | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.