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Sigachi Industries Q2 FY27 results: net profit down 16.6% to ₹8.78 crore, revenue up 18.1%
Sigachi Industries Limited reported consolidated Q2 FY27 revenue of ₹130.46 crore, up 18.1% from a year ago, while EBITDA rose to ₹19.11 crore and the margin expanded to 14.7%. Net profit was ₹8.78 crore against ₹10.53 crore in Q2 FY26, as lower other income and the absence of a prior-year exceptional gain weighed on the result.
Key points
- Revenue was ₹130.46 crore in Q2 FY27, up 18.1% from ₹110.48 crore in Q2 FY26 and 7.6% from ₹121.27 crore in Q1 FY27.
- EBITDA was ₹19.11 crore, up 153.8% year on year and 15.7% sequentially, while the margin improved to 14.7%.
- Net profit was ₹8.78 crore, down 16.6% from ₹10.53 crore a year ago but up 7.9% from ₹8.14 crore in the previous quarter.
- Basic EPS was ₹0.27, compared with ₹0.28 in Q2 FY26 and ₹0.18 in Q1 FY27.
- H1 FY27 revenue was ₹251.73 crore, while profit before tax of ₹21.16 crore and net profit of ₹16.93 crore marked a return from the previous year's losses.
How did Sigachi Industries perform in Q2 FY27?
Sigachi Industries recorded consolidated revenue of ₹130.46 crore in Q2 FY27, up 18.1% from ₹110.48 crore in Q2 FY26 and 7.6% from ₹121.27 crore in Q1 FY27. EBITDA rose to ₹19.11 crore from ₹7.53 crore a year ago, while the margin increased to 14.7% from 6.8%. Against the previous quarter, EBITDA was ₹16.51 crore and the margin was 13.6%.
Consolidated profit before tax was ₹11.07 crore, compared with ₹7.44 crore in Q2 FY26 and ₹10.09 crore in Q1 FY27. Net profit was ₹8.78 crore, down from ₹10.53 crore a year ago but up from ₹8.14 crore in Q1 FY27; basic EPS was ₹0.27, versus ₹0.28 and ₹0.18, respectively. Profit attributable to owners was ₹10.18 crore, compared with ₹10.69 crore and ₹6.76 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 130.46 | 121.27 | 110.48 | +18.1% | +7.6% |
| Other income | 0.22 | 1 | 2.49 | −91.2% | −78.0% |
| Total expenses | 119.61 | 112.19 | 110.20 | +8.5% | +6.6% |
| EBITDA | 19.11 | 16.51 | 7.53 | +153.8% | +15.7% |
| EBITDA margin | 14.7% | 13.6% | 6.8% | +7.9 pp | +1.1 pp |
| Profit before tax | 11.07 | 10.09 | 7.44 | +48.8% | +9.7% |
| Tax | 2.28 | 1.95 | −3.10 | +16.9% | |
| Net profit | 8.78 | 8.14 | 10.53 | −16.6% | +7.9% |
| EPS (₹) | 0.27 | 0.18 | 0.28 | −3.6% | +50.0% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Sigachi Industries' costs and profit?
Total expenses were ₹119.61 crore in Q2 FY27, up 8.5% from ₹110.20 crore in Q2 FY26 and 6.6% from ₹112.19 crore in Q1 FY27. Cost of materials was ₹46.34 crore, up 9.0% year on year but down 15.3% sequentially. Employee cost rose to ₹27.98 crore from ₹21.84 crore a year ago, finance costs increased to ₹3.85 crore from ₹3.13 crore, depreciation to ₹4.42 crore from ₹4.11 crore, and other expenses to ₹23.83 crore from ₹20.80 crore.
Other income fell to ₹0.22 crore from ₹2.49 crore in Q2 FY26 and ₹1 crore in Q1 FY27. Q2 FY27 had no exceptional item, whereas Q2 FY26 included an exceptional gain of ₹4.66 crore. Tax expense was ₹2.28 crore against a tax benefit of ₹3.10 crore in Q2 FY26 and ₹1.95 crore in Q1 FY27.
The figures show that the increase in operating profit did not fully carry through to net profit. Between Q2 FY26 and Q2 FY27, EBITDA rose by ₹11.58 crore and profit before tax increased by ₹3.63 crore, while other income declined by ₹2.27 crore and net profit fell by ₹1.75 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 46.34 | 42.51 | +3.83 | +9.0% |
| Employee cost | 27.98 | 21.84 | +6.14 | +28.1% |
| Finance costs | 3.85 | 3.13 | +0.72 | +23.0% |
| Depreciation | 4.42 | 4.11 | +0.31 | +7.5% |
| Other expenses | 23.83 | 20.80 | +3.03 | +14.6% |
| Total expenses | 119.61 | 110.20 | +9.41 | +8.5% |
| Other income | 0.22 | 2.49 | −2.27 | −91.2% |
| Tax | 2.28 | −3.10 | +5.38 | |
| Exceptional items | none | +4.66 (gain) |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹251.73 crore, up 5.4% from ₹238.73 crore in H1 FY26, while total income rose 3.2% to ₹252.96 crore from ₹245.16 crore. Profit before tax was ₹21.16 crore, compared with a loss of ₹93.56 crore in H1 FY26.
H1 FY27 net profit was ₹16.93 crore against a net loss of ₹90.44 crore in H1 FY26. Basic EPS was ₹0.44, compared with a loss of ₹2.35 per share in the previous first half.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 251.73 | 238.73 | +5.4% |
| Profit before tax | 21.16 | −93.56 | turned to profit |
| Net profit | 16.93 | −90.44 | turned to profit |
| EPS (₹) | 0.44 | −2.35 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, consolidated total assets were ₹874.1 crore, compared with ₹841.17 crore at 31 March 2026. Total equity rose to ₹546.77 crore from ₹528.88 crore, while borrowings increased to ₹150.25 crore from ₹135.56 crore and cash declined to ₹16.96 crore from ₹20.9 crore. Inventories were ₹95.09 crore, trade receivables ₹234.14 crore and trade payables ₹54.69 crore.
H1 FY27 operating cash flow was ₹8.08 crore, compared with an outflow of ₹72.74 crore in H1 FY26. Investing cash flow was an outflow of ₹18.01 crore against an inflow of ₹64.05 crore, while financing cash flow was an inflow of ₹5.99 crore compared with ₹18.45 crore. Capital expenditure was ₹16.41 crore in H1 FY27.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 874.10 | 841.17 |
| Total equity | 546.77 | 528.88 |
| Borrowings | 150.25 | 135.56 |
| Cash and equivalents | 16.96 | 20.90 |
| Inventories | 95.09 | 73.59 |
| Trade receivables | 234.14 | 224.20 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 8.08 | −72.74 |
| Cash from investing | −18.01 | 64.05 |
| Cash from financing | 5.99 | 18.45 |
| Capital expenditure | 16.41 | 0 |
Source: Company's results filing (XBRL).
How has Sigachi Industries done over the last 8 quarters?
Revenue rose to ₹130.46 crore in Q2 FY27 from ₹121.27 crore in Q1 FY27 and ₹121.9 crore in Q4 FY26. It remained below the ₹139.42 crore recorded in Q3 FY25. EBITDA margin has moved up from 4.9% in Q3 FY26 to 13.5% in Q4 FY26, 13.6% in Q1 FY27 and 14.7% in Q2 FY27.
Net profit was ₹8.78 crore in Q2 FY27, above ₹8.14 crore in Q1 FY27 and ₹7.65 crore in Q4 FY26, but below the ₹10.53 crore reported in Q2 FY26. The lowest quarterly figure in the series was a net loss of ₹100.97 crore in Q1 FY26.
Which businesses drove the quarter?
Pharmaceuticals reported Q2 FY27 revenue of ₹116.52 crore and EBIT of ₹12.93 crore, with an EBIT margin of 11.1%. Operational and Management reported revenue of ₹13.94 crore and EBIT of ₹1.99 crore, with an EBIT margin of 14.3%. Year-ago segment revenue, EBIT and growth figures were not provided.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Pharmaceuticals | 116.52 | 12.93 | 11.1% | |
| Operational and Management | 13.94 | 1.99 | 14.3% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved standalone and consolidated unaudited results for the quarter and half year ended 30 September 2026, together with limited review reports, and the corresponding statements of assets and liabilities and cash flows. The board also approved the appointment of Awanindra Kumar Singh as an additional whole-time professional executive director for two consecutive years, effective 31 October 2026, subject to shareholder approval.
The board approved Sridhara Narasimha Sastry's appointment as an additional independent non-executive director for a first term of two consecutive years, also subject to shareholder approval, and issued a postal ballot notice for the two appointments. No dividend or fund-raising decision was disclosed in the same-day filings. A revised filing on 5 November 2026 corrected the reporting period in the limited review report from 30 June 2026 to 30 September 2026; all other information remained unchanged.
What did Sigachi Industries' management say?
Management reset FY27 revenue guidance to around INR 600 crores from INR 650 crores. The CFO said, “Now, more or more, around INR 600 or so we can reach,” while management described INR 550-575 crores as readily achievable and nearly INR 600 crores as the stretch case. Management retained FY27 EBITDA-margin guidance around 18% and expects at least 18% in H2 FY27.
Management said MCC utilisation was nearly 80% and targeted quarterly output of about 4,500 MT by Q4 FY27, after 3,600-3,700 MT in Q2. The 12,000 MTPA Dahej SEZ MCC expansion and Dahej CCS commercialisation were moved to Q2 FY28, subject to possible variation of one to two months. The CEO said, “12,000 metric tonne-per-annum of MCC expansion of Dahej SEZ is expected to be commissioned in Q2 FY28, taking a total MCC capacity to approximately 30,000 metric ton-per-annum.”
Management identified API growth as dependent on Q3-Q4 dispatches and value-added products. It also said roughly INR 200 crores of MCC and CCS capital expenditure remained, with the debt-versus-equity funding mix undecided. The CFO said, “We missed the opportunity, and then at this point of time, it's not wise to dilute at this rate.” Management also noted that a Hyderabad plant accident and related safety retrofits temporarily constrained MCC utilisation.
How did Sigachi Industries shares react?
Sigachi Industries shares fell 4.8% five minutes after the after-market filing, declined 2.7% after 15 minutes and 1.0% after 30 minutes. By the close of the first session that could trade on the results, the stock was up 0.4% from its pre-results close of ₹26.40. By the next day's close, it was up 0.2% from the pre-results close.
The Nifty Microcap 250 rose 1.4% on the reaction day and 1.7% by the next day's close. The available industry comparison did not include a median move for Sigachi's industry. Earlier reaction-day moves were 5.2% on 30 May 2026, 1.6% lower on 13 August 2026, 3.9% lower on 14 February 2026 and 2.4% lower on 24 October 2025.
| After the filing | Stock |
|---|---|
| 5 minutes | −4.8% |
| 15 minutes | −2.7% |
| 30 minutes | −1.0% |
| Reaction day | +0.4% |
| Next day | +0.2% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 13 August 2026 | −1.6% |
| 30 May 2026 | +5.2% |
| 14 February 2026 | −3.9% |
| 24 October 2025 | −2.4% |
| 25 July 2025 | +0.2% |
| 30 May 2025 | +1.7% |
| 18 January 2025 | +1.5% |
| 13 November 2024 | −0.8% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Sigachi Industries' revenue in Q2 FY27?
Revenue from operations was ₹130.46 crore, up 18.1% from ₹110.48 crore in Q2 FY26 (consolidated).
Did Sigachi Industries make a profit in Q2 FY27?
Yes. Net profit was ₹8.78 crore, against a net profit of ₹10.53 crore in Q2 FY26.
What was Sigachi Industries' EPS in Q2 FY27?
Basic earnings per share were ₹0.27, against ₹0.28 in Q2 FY26.
How did Sigachi Industries shares react to the Q2 FY27 results?
On the reaction day the stock moved +0.4% from the previous close.
When did Sigachi Industries announce its Q2 FY27 results?
On 31 October 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Unaudited Financial Results For Quarter Ended September 30, 2026 (BSE, 28 October 2026) · PDF
- Outcome of Board Meeting (NSE, 31 October 2026) · PDF
- Revision In Outcome Of Board Meeting 31.10.2026 (BSE, 5 November 2026) · PDF
- The earnings call (5 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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