Sector Alpha Week of 2026-07-24
Sector Alpha — machine-written from the numbers · Data as of 2026-07-24

Sigachi Industries Ltd

SIGACHI
Chemicals - Organic

Sigachi Industries Ltd's price has outrun its earnings. −36.2% in a year against EPS −217.6% — the market is paying now for delivery later.

The sharpest disagreement: the price moved −36.2% in a year while annual EPS moved −217.6% — the difference is re-rating, and re-rating has to be repaid with earnings.

The price is in a downtrend (50 weeks in) while the P/E sits at the 80th percentile of its own 5-year range. Underneath, the last four quarters read deteriorating — profit −52.7% year on year, and 40% of the last 3 years' profit arrived as cash. What settles it: whether earnings grow into a price that has already moved.

Stage
Turning around
partial read
Price
₹25.0
−36.2% 1Y
P/E
29.9×
80th pctile
of its own 5-year range
Revenue (Mar 26)
₹122 Cr
−4.9% YoY
Profit (Mar 26)
₹7.7 Cr
−52.7% YoY
Operating margin
13.5%
−8.8 pp YoY
ROCE
6%
FY26
ROIC
7.0%
vs WACC 12.0% → −5.0 pp
Cash conversion
40%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified. PEG is the exception: the quarterly curve is not drawn at all. PEG asks what is being paid for growth — both sides of that division come from the source that could not be checked, so it is withheld instead of marked.
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Sigachi Industries Ltd trades at ₹25.0, in a downtrend and 50 weeks into that stage. That is −6.2% against its own 200-day average. It sits at 26% of a 52-week range of ₹18 to ₹44. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 2 straight weeks.

Today the stock is in a downtrend — week 50 of stage 4, confirmed. At ₹25.0 it trades −6.2% versus its 200-day average and sits at 26% of its 52-week range (₹18–₹44).

Jul 26: ₹25.0 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
−6.2% versus the 200-day line, week 50 of stage 4
Price50-day avg200-day avg
S2S4S4₹92.7₹72.7₹52.7₹32.7₹12.7₹25₹27Jul 23Apr 24Jan 25Oct 25Jul 26
S2S4S4₹92.7₹72.7₹52.7₹32.7₹12.7₹25₹27Jul 23Jan 25Jul 26
Beating or trailing, week by week since 2021 Each cell is one week from 2021 to now (247 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Nov 21Jul 26

Against the market, two honest reads. Cumulative: over the last 4.7 years the stock moved −56% while the NIFTY 500 moved +55% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 2 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 80th percentile of its own range.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Sigachi Industries Ltd trades at 29.9× P/E, at the pricey end of its own range (80th percentile). Its long-run median P/E is 20.3×, measured across 4.7 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 29.9× is at the pricey end of its own range (80th percentile), against a long-run median of 20.3× measured over 4.7 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 29.9× vs a 20.3× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 4.7-year window; loss-period spikes above 50× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
at the pricey end of its own range (80th percentile)
P/EMedianEPS (TTM) (quarterly)
53.7×₹4.341.6×₹3.229.5×₹2.117.4×₹1.15.3×₹0.0×30.00×₹1Nov 21Jan 23Apr 24Jun 25Jul 26
53.7×₹4.341.6×₹3.229.5×₹2.117.4×₹1.15.3×₹0.0×30.00×₹1Nov 21Apr 24Jul 26
P/E
29.9×
80th percentile of 5y

🚨 Why the multiple sits where it does: over the past year annual EPS moved −217.6% against a −36.2% price move — the price outran earnings, pushing the multiple UP its own range.

The price move, decomposed: over 3y, of the −5.2%/yr price move, ~−15.7%/yr came from earnings growth and ~+10.5 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

03 · Stage: Turning around

Stage: Turning around Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Sigachi Industries Ltd reads as turning around on its fundamental arc. Turning around — profit growth swung from −100.0% at the trough to −52.7% off a 2-quarter-old trough (single-quarter readings), ROCE slipping at 6.0%. The read is built from 10 quarters across 3 curves, on partial evidence.

Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Where the trailing-twelve-month history is short, the curve falls back to single-quarter year-on-year growth — noisier, and the classifier smooths and caps base-effect spikes before reading. Base-effect spikes shown pinned (▲). A missing point means that reading is not held for the quarter.
the trajectory the stage is read from
RevenueProfitEPS
67%140%45%22%23%−96%0.0%−214%−22%−333%%%−4.9%−52.7%−204.9%Jun 23Sep 24Mar 26
67%140%45%22%23%−96%0.0%−214%−22%−333%%%−4.9%−52.7%−204.9%Jun 23Sep 24Mar 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
21%17%13%8.9%4.9%%6%FY23FY24FY26
21%17%13%8.9%4.9%%6%FY23FY24FY26
Revenue growth
Recovering
latest −4.9% · span −15.9% to +43.8%
Profit growth
Flat
latest −52.7% · span −100.0% to +100.0%
ROCE
Falling
latest 6.0% · span 6.0%–20.0%

Why it matters: growth inflections are where re-ratings start — the curves say a turn is forming, so the question becomes whether the next quarters confirm it.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Growth, year by year: revenue −2.0% in FY26, profit −218.6% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
42%207%30%92%18%−22%6.6%−136%−5.3%−250%%%−2%−218.6%FY18FY22FY26
42%207%30%92%18%−22%6.6%−136%−5.3%−250%%%−2%−218.6%FY18FY22FY26
TTM growth by quarter Trailing-twelve-month growth versus the year-ago TTM, per quarter, %: revenue (left axis); profit and EPS (right axis). The acceleration read compares the last 4 quarters (−2.1%) with the last 8 annualized (+9.4%).
revenue rolling over
Revenue TTM YoYProfit TTM YoYEPS TTM YoY
37%72%26%−5.5%16%−83%5.5%−161%−5.0%−239%%%−2.1%−217.5%Jun 23Sep 24Mar 26
37%72%26%−5.5%16%−83%5.5%−161%−5.0%−239%%%−2.1%−217.5%Jun 23Sep 24Mar 26
Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue−2.0%+16.5%+19.9%
Share price−36.2%−5.2%
Revenue YoY (Mar 26)
−4.9%
latest quarter vs a year ago
Profit YoY (Mar 26)
−52.7%
latest quarter vs a year ago
Revenue 10y
21.4%
long-run compound pace

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

04 · 4-Factor Sector Score

4-Factor Sector Score

26.4/100 — rank 18 of 20 in Chemicals - Organic · 81% evidence confidence

Sigachi Industries Ltd scores 26.4 out of 100 against the 20 companies it is compared with in Chemicals - Organic, ranking 18. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 5.3 + 8.1 + 9.6 + 3.4 = 26.4. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Sigachi Industries Ltd reported ₹122 Cr of revenue in the Mar 26 quarter, −4.9% year on year. Over 8 years it has compounded at 21.4% a year. The last full year, FY26, came in at ₹478 Cr. The last four reported quarters add to ₹478 Cr.

Sigachi Industries Ltd reported ₹122 Cr of revenue in the Mar 26 quarter, −4.9% year on year. Over 8 years it has compounded at 21.4% a year. The last full year, FY26, came in at ₹478 Cr. The last four reported quarters add to ₹478 Cr.

FY26 revenue came in at ₹478 Cr (−2.0% on the year), capping 8 years at 21.4% compound. The latest quarter (Mar 26) printed ₹122 Cr, −4.9% year on year.

FY26 revenue ₹478 Cr (−2.0% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 9-year window. A bar is red when it is lower than the year before.
21.4% a year over 8 years
RevenueYoY growth
52742%39530%26418%1326.6%0−5.3%₹ Cr%₹478−2%FY18FY22FY26
52742%39530%26418%1326.6%0−5.3%₹ Cr%₹478−2%FY18FY22FY26
Mar 26: ₹122 Cr (−4.9% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Revenue (quarterly)YoY growth
15167%11345%7523%380.0%0−22%₹ Cr%₹122−4.9%Jun 23Sep 24Mar 26
15167%11345%7523%380.0%0−22%₹ Cr%₹122−4.9%Jun 23Sep 24Mar 26

Pace check: the last four quarters averaged +0.4% growth against the decade's 21.4% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew −2.1% over the last 4 quarters against +9.4%/yr over the last 8 — rolling over.

→ Revenue slipped — did margins hold as it scaled? Next: 13.5% this quarter (−8.8 pp YoY).

06 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Sigachi Industries Ltd's operating margin is 13.5% in the Mar 26 quarter, −8.8 percentage points against the same quarter a year ago. Across 9 fiscal years the operating margin has ranged 11.0% to 21.0%. The current quarter sits inside that band.

Sigachi Industries Ltd's operating margin is 13.5% in the Mar 26 quarter, −8.8 percentage points against the same quarter a year ago. Across 9 fiscal years the operating margin has ranged 11.0% to 21.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 13.5%, −8.8 pp against the same quarter a year ago. Across 9 fiscal years the operating margin has ranged 11.0%–21.0%.

🚨 Why the margin moved: operating margin went −8.8 pp year on year while gross margin went −8.9 pp — the loss came mostly from the gross line: input costs and pricing.

FY26: 11.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 9-year window.
within a 11.0–21.0% band over 9 years
operating marginYoY change (pp)
22%9.4%19%4.4%16%−0.5%13%−5.4%10%−10%%%11%−9%FY18FY22FY26
22%9.4%19%4.4%16%−0.5%13%−5.4%10%−10%%%11%−9%FY18FY22FY26
Mar 26: 13.5% operating margin (−8.8 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
25%8.6%20%1.2%14%−6.1%8.9%−14%3.4%−21%%%13.5%−8.8%Jun 23Sep 24Mar 26
25%8.6%20%1.2%14%−6.1%8.9%−14%3.4%−21%%%13.5%−8.8%Jun 23Sep 24Mar 26

→ Margins slipped — did that reach the bottom line? Next: profit −52.7% in the latest quarter.

07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Sigachi Industries Ltd earned ₹7.7 Cr of net profit in the Mar 26 quarter, −52.7% year on year. The full FY26 year was a loss of ₹83.0 Cr. That is 6.3% of the quarter's revenue. The same quarter a year earlier earned ₹16.2 Cr. 2 of the last 12 reported quarters were loss-making.

Sigachi Industries Ltd earned ₹7.7 Cr of net profit in the Mar 26 quarter, −52.7% year on year. The full FY26 year was a loss of ₹83.0 Cr. That is 6.3% of the quarter's revenue. The same quarter a year earlier earned ₹16.2 Cr. 2 of the last 12 reported quarters were loss-making.

Mar 26 profit was ₹7.7 Cr, −52.7% year on year. On the full year, FY26 printed ₹−83.0 Cr (−218.6%).

FY26 profit ₹−83.0 Cr (−218.6% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 9-year window. A bar is red when it is lower than the year before.
Net profitYoY growth
82203%3890%−7−24%−51−137%−95−250%₹ Cr%₹−83−218.6%FY18FY22FY26
82203%3890%−7−24%−51−137%−95−250%₹ Cr%₹−83−218.6%FY18FY22FY26
Mar 26: ₹7.7 Cr (−52.7% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
31187%−5−102%−40−392%−75−682%−111−971%₹ Cr%₹8−52.7%Jun 23Sep 24Mar 26
31187%−5−102%−40−392%−75−682%−111−971%₹ Cr%₹8−52.7%Jun 23Sep 24Mar 26

🚨 Why profit moved: revenue contributed −4.9% and the margin −8.8 pp — the quarter was revenue-led despite a thinner margin.

Pace comparison, last four quarters: profit −273.5% vs revenue +0.4%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.

→ Profit rose — but did the cash follow? Next: 40% of the last 3 years' profit arrived as cash.

08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 40% of Sigachi Industries Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹4.0 Cr of operating cash against ₹−83.0 Cr of profit. After ₹−5.0 Cr of capital spending, ₹9.0 Cr was left as free cash.

FY26: operating cash of ₹4.0 Cr against reported profit of ₹−83.0 Cr, leaving free cash of ₹9.0 Cr after ₹−5.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 40% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹4.0 Cr vs profit ₹−83.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 9-year window, annual resolution. FY24 reflects an acquisition year — point shown clipped.
40% of 3-year profit arrived as cash
Operating cashNet profitFree cash
8238−7−51−95₹ Cr₹4₹−83₹9FY18FY22FY26
8238−7−51−95₹ Cr₹4₹−83₹9FY18FY22FY26
FY26: CFO = 39% of profit (three-year rate 40%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash.
Conversion100%
122%93%65%36%7.1%%39%FY18FY22FY26
122%93%65%36%7.1%%39%FY18FY22FY26

🚨 Why conversion sits at 40%: the cash cycle stretched 77 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: conversion is below par and the cash cycle has stretched 77 days — the next section's job is to find where the cash is stuck.

→ So follow the cash to where it goes. Next: the 193-day cycle, in money terms.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Sigachi Industries Ltd's cash conversion cycle runs 193 days in FY26, up from 116 days in FY21. Capital spending ran ₹244 Cr over the last 3 years. At FY26 sales of ₹478 Cr each day of that cycle holds about ₹1.3 Cr, so roughly ₹253 Cr sits inside the business at any moment.

FY26: debtors at 171 days, inventory at 108 days — roughly 3.6 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 193 days, looser than FY21's 116.

The full loop: cash goes out to suppliers and production on day 0; stock waits 108 days to sell; customers pay about 171 days after that; and suppliers themselves are paid at 87 days — netting out to the 193-day cycle.

In money terms: at FY26 sales of ₹478 Cr, each day of the cycle holds about ₹1.3 Cr — so the 193-day loop keeps roughly ₹253 Cr sitting inside the business at any moment.

FY26: a 193-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 9-year window.
+77 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
2501911327213days193d108d171d87dFY18FY20FY22FY24FY26
2501911327213days193d108d171d87dFY18FY22FY26

On the investment side: capital spending of ₹244 Cr over the last 3 fiscal years against ₹45.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹31.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹−5.0 Cr, work-in-progress ₹31.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
a build-out
CapexWork-in-progress
22216110039−22₹ Cr₹−5₹31FY19FY20FY22FY24FY26
22216110039−22₹ Cr₹−5₹31FY19FY22FY26

The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 6% and the ROIC − WACC spread is −5.0 pp.

10 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

Sigachi Industries Ltd earns a ROCE of 6% in FY26. Return on invested capital clears the cost of that capital by −5.0 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is −17.4% net margin on 0.57× asset turns.

FY26 ROCE is 6%.

🚨 Why the return is what it is — the wiring (FY26): −17.4% net margin × 0.57× asset turns × 1.61× balance-sheet leverage ≈ −16.0% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 7.0% − 12.0% = a −5.0 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

FY26: ROCE 6% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 8-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the full ladder
ROCEROIC (annual)WACC
47%36%25%14%3.0%%6%6.6%FY19FY22FY26
47%36%25%14%3.0%%6%6.6%FY19FY22FY26
Q4 FY26: ROCE 7.1% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
17%14%11%8.1%5.2%%7.1%6%Q1 FY24Q2 FY25Q4 FY26
17%14%11%8.1%5.2%%7.1%6%Q1 FY24Q2 FY25Q4 FY26

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.27.

11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

Sigachi Industries Ltd carries total debt of ₹162 Cr against shareholder equity of ₹529 Cr as of Mar 26, a debt-to-equity of 0.31. On the annual view that ratio went from 0.15 in FY22 to 0.31 in FY26. Read the returns elsewhere on this page with that leverage in mind.

Mar 26: total debt of ₹162 Cr against shareholder equity of ₹529 Cr — a debt-to-equity of 0.31. On the annual view, debt-to-equity went from 0.15 (FY22) to 0.31 (FY26). Read the returns on this page with that leverage in mind.

FY26: debt ₹162 Cr at 0.31× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
1750.36×1310.30×870.24×440.19×00.13×₹ Cr×₹1620.31×FY22FY24FY26
1750.36×1310.30×870.24×440.19×00.13×₹ Cr×₹1620.31×FY22FY24FY26
Mar 26: debt ₹162 Cr, debt-to-equity 0.31 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
1800.36×1350.32×900.29×450.26×00.22×₹ Cr×₹1620.31×Jun 23Sep 24Mar 26
1800.36×1350.32×900.29×450.26×00.22×₹ Cr×₹1620.31×Jun 23Sep 24Mar 26

→ Who owns this, and are they adding or leaving? Next: Promoters cut 8.7 points over 8 quarters.

12 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Promoters cut 8.7 points of Sigachi Industries Ltd over 8 quarters, the biggest move on the register. That takes promoters to 36.7% of the company. Foreign institutions moved −0.3 points over the same window, to 1.3%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: −8.7 points over 8 quarters to 36.7%; Foreign institutions: −0.3 points over 8 quarters to 1.3%.

🚨 Why the register moved: promoters drove it (−8.7 points) — distribution into the market’s bid.

Fiscal-year ends: promoters −8.7 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Public
67%49%31%13%−4.9%%36.7%1.3%62.0%Mar 24Mar 25Mar 26
67%49%31%13%−4.9%%36.7%1.3%62.0%Mar 24Mar 25Mar 26
Promoters cut 8.7 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Public
67%49%31%13%−4.9%%36.7%1.3%62.0%Jun 23Dec 24Jun 26
67%49%31%13%−4.9%%36.7%1.3%62.0%Jun 23Dec 24Jun 26

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

13 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Sigachi Industries Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

Related companies · same sector · Chemicals - Organic Every company is compared on the shape of its own curves, not static ratios. The Revenue, EPS and ROCE columns each draw that company's last 12 quarters as a mini line of the ACTUAL level (trailing-twelve-month revenue and EPS, and the ROCE itself) — so a line that climbs is a business getting bigger, a line that sinks is one shrinking. The colour tracks the same line: green when it is rising or steadily healthy, amber when it is rolling over from a high (still elevated but turning down), red when it is falling, grey when flat or stuck. Colour and direction always agree — a green line never points down. The ROCE curve is the return on capital (annual readings for peers, so a slightly coarser line than the quarterly one at the top of this page). The Stage column then runs the same 12-quarter trajectory classifier used at the top of the page on each company and names where it sits. What lands a company in each bucket: CONSISTENT — growth stays positive across the window and returns are healthy (ROCE ≥ 15%, or ROE ≥ 12% for lenders); IMPROVING — profit or EPS fell into real decline, bottomed a few quarters back, and has climbed back to positive and held there; TURNING AROUND — the same kind of trough but more recent, with the latest quarters just lifting off it (an early, unconfirmed turn); TOPPING OUT — growth is still positive but decelerating hard from its own peak while returns have stopped rising; DETERIORATING — two or more growth curves are shrinking (latest below zero) and staying there, not one soft quarter; MIXED — the curves genuinely disagree, or no clean majority, so no single word fits; NO READ — fewer than eight usable quarters. It is a like-for-like read of every company against its own past, not a ranking against the group.
CompanyP/EMkt capRevenueEPSROCEStage
Sigachi Industries Ltd this page29.9×₹974 CrTurning around
BASF India Ltd38.4×₹15,887 CrNo read
Fine Organic Industries Ltd35.9×₹14,804 CrImproving
Elantas Beck India Ltd50.3×₹7,346 CrMixed
Balaji Amines Ltd42.2×₹7,046 CrImproving
Laxmi Organic Industries Ltd63.2×₹5,053 CrMixed
Foseco India Ltd39.0×₹3,805 Cr
Citurgia Biochemicals Ltd₹1,884 CrNo read
Nitta Gelatin India Ltd13.5×₹1,489 CrMixed
Oriental Aromatics Ltd379.0×₹1,255 CrMixed
Jyoti Resins and Adhesives Ltd14.3×₹997 CrTopping out
Fairchem Organics Ltd157.0×₹967 CrTurning around
Sacheerome Ltd33.3×₹946 Cr
Indo Amines Ltd11.8×₹940 CrConsistent
Gem Aromatics Ltd651.0×₹930 CrNo read
Shri Ahimsa Naturals Ltd31.1×₹904 Cr
Valiant Organics Ltd25.4×₹737 CrNo read
OCCL Ltd14.6×₹724 CrNo read
Shree Ganesh Remedies Ltd35.1×₹636 CrDeteriorating
Valiant Organics Ltd33.0×₹600 CrNo read
GFL Ltd11.0×₹494 CrNo read
12 · Frequently asked questions

Frequently asked questions

What is Sigachi Industries Ltd's share price today?

Sigachi Industries Ltd trades at ₹25.0, −36.2% over the past year. The company is valued at ₹974 Cr. The stock sits at 26% of its 52-week range of ₹18–₹44, −6.2% versus its 200-day average. On the tape, the price is in a downtrend, 50 weeks in. — as of 24 July 2026.

What were Sigachi Industries Ltd's latest quarterly results?

Sigachi Industries Ltd reported revenue of ₹122 Cr and net profit of ₹7.7 Cr for the Mar 26 quarter. Revenue fell 4.9% and profit fell 52.7% year on year. Earnings per share were ₹0.20. The operating margin was 13.5%, 8.8 pp lower than a year earlier. — as of 24 July 2026.

What is Sigachi Industries Ltd's revenue?

Sigachi Industries Ltd reported revenue of ₹122 Cr in the Mar 26 quarter, −4.9% year on year. For the full FY26 fiscal year, revenue was ₹478 Cr (−2.0%). Over the last 8 years revenue compounded at 21.4% a year. — as of 24 July 2026.

What is Sigachi Industries Ltd's profit?

Sigachi Industries Ltd earned ₹7.7 Cr of net profit in the Mar 26 quarter, −52.7% year on year. Full-year FY26 profit was ₹−83.0 Cr. The operating margin ran 13.5% in the latest quarter. — as of 24 July 2026.

What is Sigachi Industries Ltd's market cap?

Sigachi Industries Ltd's market capitalisation is ₹974 Cr at a share price of ₹25.0. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.

What is Sigachi Industries Ltd's P/E ratio?

Sigachi Industries Ltd trades at a P/E of 29.9×, at the 80th percentile of its own 5-year range, against a long-run median of 20.3×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.

Does Sigachi Industries Ltd pay a dividend?

Not in its latest year — Sigachi Industries Ltd's dividend payout was 0% of profit in FY26. It did record a payout in 7 of its last 9 reported fiscal years, so there is a history but no current dividend. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.

Is Sigachi Industries Ltd overvalued?

On its own history, Sigachi Industries Ltd looks expensive against its own history: its P/E of 29.9× sits at the 80th percentile of its 5-year range (long-run median 20.3×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.

Is Sigachi Industries Ltd growing?

Not right now — Sigachi Industries Ltd's latest numbers are shrinking: latest-quarter revenue −4.9% year on year, profit −52.7%, and the margin −8.8 pp at 13.5%. The earnings engine currently reads: deteriorating — as of 24 July 2026.

How is Sigachi Industries Ltd performing?

Sigachi Industries Ltd is in a downtrend, 50 weeks in. Its latest quarter's revenue fell 4.9% and profit fell 52.7% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 2 weeks. This describes what the data did, not a rating. — as of 24 July 2026.

What stage is Sigachi Industries Ltd in?

Turning around — profit growth swung from −100.0% at the trough to −52.7% off a 2-quarter-old trough (single-quarter readings), ROCE slipping at 6.0%. The read comes from the last 12 quarters of growth (revenue growth −4.9% latest, profit growth −52.7% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.

Is Sigachi Industries Ltd in an uptrend?

No — the price is in a downtrend (week 50 of stage 4), trading −6.2% versus its 200-day average and at 26% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.

Is Sigachi Industries Ltd beating the market?

On recent form, yes — Sigachi Industries Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 2 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 4.7 years the stock moved −56% against the NIFTY 500's +55% — behind the index over the full window. — as of 24 July 2026.

Will Sigachi Industries Ltd's share price go up?

This page publishes no price forecast for Sigachi Industries Ltd. What it measures instead: the share price is ₹25.0, the price is in a downtrend 50 weeks in. Its P/E of 29.9× sits at the 80th percentile of its own 5-year range. — as of 24 July 2026.

Who owns Sigachi Industries Ltd?

Promoters hold 36.7% of Sigachi Industries Ltd, foreign institutions 1.3%, domestic institutions null% and the public 62.0% (latest quarter). The biggest move on the register over the last two years: Promoters cut 8.7 points over 8 quarters. — as of 24 July 2026.

Does Sigachi Industries Ltd have too much debt?

No — Sigachi Industries Ltd's debt-to-equity is 0.27, and operating profit covers the interest bill 4×. FY26 borrowings were ₹139 Cr against equity of ₹522 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.

What is Sigachi Industries Ltd's capex?

Sigachi Industries Ltd spent ₹244 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹−5.0 Cr, with ₹31.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.

What is Sigachi Industries Ltd's cash flow?

Sigachi Industries Ltd generated ₹4.0 Cr of operating cash flow in FY26 and ₹9.0 Cr of free cash flow after ₹−5.0 Cr of capital spending. Reported profit that year was ₹−83.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 24 July 2026.

Is Sigachi Industries Ltd's profit real cash?

Not fully — over the last 3 fiscal years, 40% of Sigachi Industries Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹4.0 Cr against reported profit of ₹−83.0 Cr. The cash then goes mostly into the working-capital cycle. Cash-flow resolution is annual — as of 24 July 2026.

Where is Sigachi Industries Ltd in its business cycle?

Sigachi Industries Ltd's FY26 operating margin was 11.0%, against a 9-year band of 11.0%–21.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran 13.5%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.

What could break the Sigachi Industries Ltd story?

The sharpest disagreement: the price moved −36.2% in a year while annual EPS moved −217.6% — the difference is re-rating, and re-rating has to be repaid with earnings. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.

Is Sigachi Industries Ltd a stock worth studying right now?

This is not investment advice. The machine read: Sigachi Industries Ltd's price has outrun its earnings. −36.2% in a year against EPS −217.6% — the market is paying now for delivery later. The sharpest open question: whether earnings grow into a price that has already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.

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