NSE: SIKKO
SIKKO INDUSTRIES LIMITED
Makes and sells pesticides and agrochemicals as its single business line, and reported revenue from operations of Rs. 65.012 crore in FY26, up 5.3% from the prior year, with net profit of Rs. 5.1047 crore (up 19.5%). The largest disclosed cost is raw materials at 23.4% of revenue (Rs. 15.2315 crore), followed by employee costs at 13.9% (Rs. 9.0646 crore). The company recorded a Rs. 325.55 lakh pre-tax loss in Q4 FY26 and full-year negative operating cash flows of Rs. 730.95 lakh, while short-term borrowings nearly quadrupled to Rs. 1,056 lakh from Rs. 287.52 lakh. Total assets stood at Rs. 114.7917 crore. In March 2026, the Board approved and shareholders later passed a resolution expanding the main objects clause to include electricity generation, distribution, and trading from conventional and renewable sources — a direction the company is not yet operating in. The issued capital stands at 43.68 crore equity shares of Re. 1 face value, fully dematerialized, held by 31,650 shareholders as of March 2026. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Agrochemicals and pesticides. Small-cap, single-segment agrochemicals company with high employee cost intensity (13.9% of revenue) and a recently approved but not yet operational diversification into electricity generation and trading.
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 62 | 65 |
| EBITDA (ex other income) | 6 | 6 |
| margin % | 10.3 | 9.8 |
| Owners' profit | 0 | 0 |
| EPS, as reported (₹) | 2.41 | 0.12 |
| ROE % · ROCE % | 5.2 · 7.8 | 5.9 · 8.1 |
| Debt / equity (x) | 0.05 | 0.14 |
| Cash from operations | (31) | (7) |
| Capex | (10) | (2) |
Exhibit 2: Quarterly performance, last 7 quarters
| ₹ crore | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|
| Revenue | 12 | 19 | 18 | 19 | 17 | 11 | 18 |
| Profit before tax | 2 | (1) | 3 | 4 | 3 | (3) | 4 |
| Net profit | 1 | (1) | 2 | 3 | 2 | (2) | 3 |
| EPS (₹) | 0.77 | (0.50) | 1.00 | 1.31 | 0.05 | (0.05) | 0.07 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| UPL LIMITED | 45,250 | 22.2 | 1.10 | 6.1 | 5.4 | 5.5 | 6.0 | 16.3 |
| PI INDUSTRIES LTD | 31,315 | 26.8 | 2.79 | 14.8 | 11.8 | 14.5 | 8.0 | 25.3 |
| SUMITOMO CHEM INDIA LTD | 16,716 | 28.9 | 4.93 | 20.8 | 16.0 | 20.8 | 4.1 | 28.9 |
| BAYER CROPSCIENCE LTD | 14,737 | 21.4 | 4.97 | — | 23.2 | 27.3 | — | 22.7 |
| SHARDA CROPCHEM LTD. | 6,172 | 9.9 | 1.97 | 5.0 | 21.7 | 25.2 | 17.1 | 20.5 |
| DHANUKA AGRITECH LTD | 4,008 | 13.7 | 2.86 | 8.9 | 21.2 | 27.0 | 12.7 | 27.4 |
| RALLIS INDIA LTD | 3,557 | 22.2 | 2.10 | 12.0 | 9.7 | 12.5 | — | 0.9 |
| BHAGIRADHA CHEM & INDS L | 2,668 | 97.0 | 3.82 | 48.4 | 2.6 | 2.4 | 11.0 | 16.6 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 3.6 | 19.0 | 2 of 24 | 96% |
| P/B | 2.5 | 2.2 | 17 of 28 | 41% |
| ROCE | 7.2 | 12.5 | 17 of 29 | 43% |
| ROE | 5.9 | 9.2 | 17 of 28 | 41% |
| Debt / Equity | 0.1 | 0.3 | 11 of 29 | 64% |
| EBITDA margin | 26.3 | 14.8 | 3 of 28 | 93% |
| Revenue growth | (2.3) | (0.8) | 15 of 28 | 48% |
| Profit growth | 43.4 | 18.1 | 10 of 28 | 67% |
| Market cap | 219 | 1334 | 23 of 29 | 21% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 16 Oct 2026 · Share Capital Audit Report for quarter ended Sept 30, 2026 filed with NSE | compliance | minimal | — | — |
| 13 Oct 2026 · Sikko Industries signs 3-year MOU to supply organic fertilizer to Uganda OWC | strategic transactions | high | — | — |
| 12 Oct 2026 · RTA certificate on dematerialisation for Q2 FY26-27 filed with NSE | compliance | minimal | — | — |
| 28 Sept 2026 · Trading Window Closure for Insiders Ahead of Q2 FY26 Results | compliance | minimal | — | — |
| 26 Sept 2026 · AGM Results: All 6 Resolutions Passed with Overwhelming Majority | board shareholder meetings | low | — | — |
| 26 Sept 2026 · 26th AGM held; 6 resolutions passed including director re-appointments and RPT approval | board shareholder meetings | low | — | — |
| 24 Sept 2026 · Secretarial Auditor firm changes name, terms unchanged | management changes | low | — | — |
| 4 Sept 2026 · Sikko Industries informs about 26th AGM newspaper notice | compliance | minimal | — | — |
| 2 Sept 2026 · Sikko Industries 26th AGM on Sept 26, 2026; re-appointments and related party deal | board shareholder meetings | low | — | — |
| 12 Aug 2026 · Sikko Industries: Q1 results, Kumbhani family directors re-appointed for 5 years | management changes | medium | — | — |
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.