Past 10 year's financial track record analysis by Moneyworks4me indicates that Sigachi Industries Ltd is a good quality company.
The key valuation ratios of Sigachi Industries Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Sigachi Industries Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 25.2% | 45.5% | 33.5% | 36.3% | 26.6% | 19.6% | 15% | - |
| Value Creation Index ⓘ | 0.8 | 2.3 | 1.4 | 1.6 | 0.9 | 0.4 | 0.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | ||||||||
| Sales ⓘ | 102 | 128 | 139 | 188 | 249 | 290 | 318 | 350 |
| Sales YoY Gr. | - | 25.5% | 8.5% | 35.4% | 32.7% | 16.4% | 9.4% | - |
| Adj EPS ⓘ | 0.3 | 0.8 | 0.9 | 1.3 | 1.2 | 1.3 | 1.2 | 1.6 |
| YoY Gr. | - | 171% | 1.2% | 48.2% | -5.6% | 6.7% | -5.5% | - |
| BVPS (₹) ⓘ | 1.2 | 2 | 2.9 | 4.1 | 7.4 | 8.6 | 10.7 | 13.5 |
| Adj Net Profit ⓘ | 7.2 | 19.4 | 19.6 | 29 | 36.7 | 39.2 | 39.3 | 53 |
| Cash Flow from Ops. ⓘ | 6.8 | 14.5 | 11.9 | 27.9 | 5.4 | 27.7 | 15.1 | - |
| Debt/CF from Ops. ⓘ | 4.2 | 1.6 | 2.4 | 0.7 | 6.5 | 1.5 | 7.4 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | 19.9% | 19.1% | 9.4% | ||||
| Adj EPS ⓘ | NA | 7.4% | -1.6% | -5.5% | ||||
| BVPSⓘ | NA | 39.7% | 37.6% | 24.2% | ||||
| Share Price | - | - | -5.9% | -12.5% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 26.3 | 52.7 | 34.7 | 36 | 22.8 | 15.9 | 11.6 | 13.2 |
| Op. Profit Mgn % ⓘ | 12.2 | 20.8 | 17.8 | 19.9 | 20.2 | 19.2 | 18.7 | 18.6 |
| Net Profit Mgn % ⓘ | 7 | 15.2 | 14.1 | 15.5 | 14.7 | 13.5 | 12.4 | 15.3 |
| Debt to Equity ⓘ | 1.1 | 0.5 | 0.4 | 0.2 | 0.2 | 0.2 | 0.3 | 0.1 |
| Working Cap Days ⓘ | 0 | 143 | 161 | 134 | 166 | 209 | 234 | 124 |
| Cash Conv. Cycle ⓘ | 0 | 89 | 110 | 91 | 91 | 111 | 118 | 59 |
Sales growth is growing at healthy rate in last 3 years 19.10%
Sales growth is good in last 4 quarters at 17.08%
Return on Equity has declined versus last 3 years average to 13.20%
Net Profit has been subdued in last 3 years -1.61%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 1.6 | 2 |
| TTM Sales (₹ Cr.) | 350 | 436 |
| BVPS (₹.) ⓘ | 13.5 | 14.2 |
| Reserves (₹ Cr.) ⓘ | 415 | 438 |
| P/BV ⓘ | 3.70 | 3.52 |
| PE ⓘ | 30.99 | 25.09 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 43.42 / 95.94 |
| All Time Low / High (₹) | 22.00 / 95.94 |
| Market Cap (₹ Cr.) | 1,659 |
| Equity (₹ Cr.) | 33.3 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 56.1 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 21.70 | 21.70 | 23.37 |
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|
| Sales | 102 | 128 | 139 | 188 | 249 | 290 | 317 |
| Operating Expenses ⓘ | 89 | 101 | 114 | 151 | 199 | 235 | 258 |
| Manufacturing Costs | 12 | 14 | 15 | 19 | 20 | 25 | 29 |
| Material Costs | 60 | 66 | 73 | 99 | 123 | 135 | 146 |
| Employee Cost | 8 | 10 | 12 | 13 | 15 | 30 | 43 |
| Other Costs ⓘ | 10 | 11 | 14 | 20 | 41 | 45 | 40 |
| Operating Profit ⓘ | 12 | 26 | 25 | 37 | 50 | 56 | 59 |
| Operating Profit Margin (%) | 12.2% | 20.7% | 17.8% | 19.9% | 20.2% | 19.2% | 18.7% |
| Other Income ⓘ | 3 | 4 | 5 | 3 | 3 | 7 | 12 |
| Interest ⓘ | 4 | 3 | 2 | 1 | 1 | 4 | 7 |
| Depreciation ⓘ | 1 | 2 | 2 | 2 | 3 | 7 | 9 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 10 | 25 | 25 | 37 | 49 | 52 | 55 |
| Tax ⓘ | 3 | 6 | 5 | 8 | 11 | 10 | 14 |
| Profit After Tax | 8 | 20 | 20 | 29 | 38 | 42 | 41 |
| PAT Margin (%) | 7.6% | 15.4% | 14.7% | 15.5% | 15.2% | 14.3% | 12.9% |
| Adjusted EPS (₹) | 0.3 | 0.9 | 0.9 | 1.3 | 1.2 | 1.4 | 1.3 |
| Dividend Payout Ratio (%) | 4% | 2% | 4% | 3% | 8% | 7% | 8% |
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 27 | 47 | 67 | 95 | 227 | 266 | 352 | |||
| Share Capital ⓘ | 3 | 3 | 8 | 8 | 31 | 31 | 33 | |||
| Reserves ⓘ | 24 | 43 | 59 | 87 | 196 | 235 | 319 | |||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
| Debt | 27 | 22 | 27 | 20 | 34 | 40 | 103 | |||
| Long Term Debt | 3 | 1 | 2 | 2 | 1 | 1 | 27 | |||
| Short Term Debt | 23 | 20 | 25 | 18 | 33 | 39 | 77 | |||
| Trade Payables | 8 | 8 | 7 | 8 | 10 | 20 | 28 | |||
| Others Liabilities ⓘ | 9 | 14 | 8 | 11 | 13 | 43 | 126 | |||
| Total Liabilities ⓘ | 71 | 91 | 109 | 134 | 284 | 369 | 609 | |||
Fixed Assets | ||||||||||
| Gross Block | 33 | 37 | 42 | 51 | 69 | 144 | 169 | |||
| Accumulated Depreciation | 7 | 9 | 10 | 13 | 16 | 22 | 30 | |||
| Net Fixed Assetsⓘ | 26 | 29 | 32 | 38 | 53 | 122 | 139 | |||
| CWIP ⓘ | 1 | 2 | 3 | 4 | 10 | 35 | 91 | |||
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 2 | 102 | |||
| Inventories | 14 | 21 | 26 | 15 | 17 | 33 | 31 | |||
| Trade Receivables | 22 | 25 | 30 | 42 | 72 | 91 | 110 | |||
| Cash Equivalents | 2 | 2 | 10 | 18 | 69 | 30 | 49 | |||
| Others Assetsⓘ | 6 | 11 | 8 | 17 | 64 | 57 | 87 | |||
| Total Assets ⓘ | 71 | 91 | 109 | 134 | 284 | 369 | 609 | |||
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 7 | 15 | 12 | 28 | 5 | 28 | 15 |
| PBT ⓘ | 10 | 25 | 25 | 37 | 49 | 52 | 55 |
| Adjustment ⓘ | 4 | 5 | 4 | 3 | 3 | 8 | 7 |
| Changes in Working Capital ⓘ | -5 | -11 | -13 | -6 | -36 | -20 | -38 |
| Tax Paid ⓘ | -3 | -5 | -5 | -7 | -11 | -11 | -9 |
| Cash Flow From Investing Activity ⓘ | -4 | -6 | -7 | -11 | -63 | -93 | -158 |
| Capex | -4 | -6 | -6 | -9 | -24 | -100 | -82 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | -2 | -87 |
| Others ⓘ | 1 | 0 | -1 | -2 | -39 | 9 | 11 |
| Cash Flow From Financing Activityⓘ | -4 | -9 | 3 | -9 | 108 | 26 | 163 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 96 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -1 | -2 | 1 | 0 | -1 | 0 | 32 |
| Interest Paid ⓘ | -3 | -3 | -2 | -1 | -1 | -4 | -7 |
| Dividend Paid ⓘ | 0 | 0 | 0 | -1 | -2 | -3 | -3 |
| Others ⓘ | 0 | -3 | 5 | -7 | 16 | 34 | 141 |
| Net Cash Flow ⓘ | -1 | 0 | 8 | 8 | 51 | -39 | 20 |
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 28.49 | 53.4 | 36.11 | 36 | 23.61 | 16.87 | 13.28 | |||
| ROCE (%) | 25.19 | 45.52 | 33.47 | 36.34 | 26.55 | 19.64 | 15.02 | |||
| Asset Turnover Ratio | 1.43 | 1.58 | 1.39 | 1.55 | 1.19 | 0.89 | 0.65 | |||
| PAT to CFO Conversion(x) | 0.88 | 0.75 | 0.6 | 0.97 | 0.13 | 0.67 | 0.37 | Working Capital Days | ||
| Receivable Days | 79 | 67 | 73 | 70 | 84 | 103 | 115 | |||
| Inventory Days | 52 | 51 | 62 | 40 | 23 | 31 | 37 | |||
| Payable Days | 50 | 45 | 39 | 28 | 26 | 40 | 59 | |||
Sigachi Industries is engaged in manufacturing microcrystalline cellulose (MCC) which is widely used as an excipient for finished dosages in the pharmaceutical industry. The inert non-reactive, free flowing and versatile nature of MCC has varied applications in the pharmaceutical, food, nutraceuticals and the cosmetic industries. It manufactures MCC of various grades ranging from 15 microns to 250 microns. The major grades of MCC manufactured and marketed by the company are branded as HiCel and AceCel. These products are distinguished with the help of different drying techniques employed by the company during the manufacturing process. HiCel is a spray dried product and is considered premium in quality due to the physical properties of the product such as particle size, density, flow, tableting properties, etc. AceCel on the other hand is manufactured through bulk drying process. It also manufactures various grades of this product in combination with various chemicals like colloidal silicon dioxide, carboxy cellulose sodium, mannitol etc. to cater to the growing market of the co-processed excipients.
The company operates three manufacturing units namely, Unit I situated at Hyderabad and two manufacturing units, Unit II and Unit III are situated at Jhagadia and Dahej, respectively located in Gujarat. Unit I manufacture both HiCel and AceCel and caters to the domestic and international customers such as end users, merchants, distributors and exporters. Unit II manufactures AceCel and supplements the sale in the domestic market. Unit III is situated at Special Economic Zone (SEZ) at Dahej and is engaged in the manufacture of HiCel and special grades which is exported to overseas customers and distributors. The company foresees an increase in demand of MCC and to the tap the growing market, it intends to utilize the Net Proceeds of this Issue to enhance the production capacity of MCC by increasing the existing capacity of its Unit II and Unit III and manufacturing of CCS in the Proposed Unit at Kurnool.
Business area of the company
The company is an industry leader in the field of Pharma Excipients, Nutra and food ingredients. The company has rapidly established itself as one of the largest manufacturers of Microcrystalline Cellulose worldwide.
Awards and Accreditations
Major Events and Milestones
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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