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) | 11.4 | 14.1 | 155 of 379 | 59% |
| P/B | 0.4 | 1.4 | 54 of 339 | 84% |
| ROCE | 4.9 | 3.6 | 190 of 427 | 56% |
| ROE | 3.6 | 3.4 | 196 of 404 | 52% |
| Debt / Equity | 0.3 | 0.1 | 281 of 405 | 31% |
| EBITDA margin | 5.2 | 9.8 | 218 of 341 | 36% |
| Revenue growth | 10.4 | 9.2 | 160 of 333 | 52% |
| Profit growth | 12.3 | 7.9 | 177 of 369 | 52% |
| Market cap | 206 | 49 | 116 of 420 | 73% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 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 | — | — |
| 25 Aug 2026 · Sicagen India 22nd AGM Notice on 17 September 2026 | board shareholder meetings | low | — | — |
| 25 Aug 2026 · Sicagen India submits 22nd Annual Report for FY 2025-26 | results | medium | — | — |
| 20 Aug 2026 · Sicagen requests shareholders to register email IDs | compliance | minimal | — | — |
| 10 Aug 2026 · Board approves Q1 FY27 results; 22nd AGM on 17 September 2026 | results | medium | — | — |
| 10 Aug 2026 · Q1 FY27 results: Consolidated revenue up 39%, PAT up 53% YoY | results | high | — | — |
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.