SICAGEN
Sicagen India financials
- Market cap
- ₹219 Cr
- Sector
- Services
Quarterly results
Q1 FY27: revenue up 39.8%, net profit up 52.6% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 198 | 210 | 252 | 205 | 227 +15% | 264 +26% | 278 +10% | 286 +40% |
| EBITDA | 8 | 7 | 11 | 10 | 9 +10% | 9 +35% | 11 +6% | 12 +27% |
| Net profit | 4 | 4 | 4 | 5 | 4 +0% | 5 +17% | 4 +12% | 7 +53% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −1.9% YTD
YTD: ₹54.55 on 20 Apr 2026 → ₹53.53. High ₹74.06 (7 Aug 2026), low ₹49.26 (30 Jul 2026).
Financials, as filed
Revenue grew 10.6% a year over 2 years, FY24 to FY26. Operating margin widened to 4.0%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹795 Cr | ₹891 Cr | ₹973 Cr |
| Operating profit | ₹27 Cr | ₹35 Cr | ₹39 Cr |
| Operating margin | 3.4% | 3.9% | 4.0% |
| Interest | ₹11 Cr | ₹11 Cr | ₹13 Cr |
| Depreciation | ₹10 Cr | ₹11 Cr | ₹11 Cr |
| Net profit | ₹11 Cr | ₹17 Cr | ₹18 Cr |
| Net margin | 1.3% | 1.9% | 1.9% |
| Cash from operations | ₹25 Cr | ₹33 Cr | ₹44 Cr |
| Free cash flow | ₹22 Cr | ₹33 Cr | ₹38 Cr |
| ROCE | 4.0% | 6.0% | 6.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹40 Cr | ₹40 Cr | ₹40 Cr | ₹40 Cr | ₹40 Cr | ₹40 Cr |
| Reserves | ₹355 Cr | ₹383 Cr | ₹400 Cr | ₹420 Cr | ₹478 Cr | ₹455 Cr |
| Borrowings | ₹79 Cr | ₹95 Cr | ₹121 Cr | ₹121 Cr | ₹164 Cr | ₹159 Cr |
| Other liabilities | ₹72 Cr | ₹140 Cr | ₹68 Cr | ₹143 Cr | ₹148 Cr | ₹86 Cr |
| Total liabilities | ₹546 Cr | ₹656 Cr | ₹629 Cr | ₹723 Cr | ₹830 Cr | ₹740 Cr |
| Fixed assets | ₹168 Cr | ₹141 Cr | ₹141 Cr | ₹140 Cr | ₹140 Cr | ₹140 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹1 Cr | ₹0 Cr |
| Investments | ₹37 Cr | ₹70 Cr | ₹69 Cr | ₹73 Cr | ₹93 Cr | ₹66 Cr |
| Other assets | ₹340 Cr | ₹445 Cr | ₹418 Cr | ₹510 Cr | ₹596 Cr | ₹533 Cr |
| Total assets | ₹546 Cr | ₹656 Cr | ₹629 Cr | ₹723 Cr | ₹830 Cr | ₹740 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters added +0.74 pp while FIIs trimmed −0.38 pp. The shareholder count shrank 7% to 22,070.
- Promoters
- 61.1%
- FIIs
- 2.5%
- DIIs
- 0.6%
- Public
- 35.8%
Since Jun 2025
- Promoters +0.74 pp
- FIIs −0.38 pp
- Public −0.37 pp
How it drifted, 12 quarters
Over this window promoters went from 55.5% to 61.1% — +5.7 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 55.5%, FIIs 7.3%, DIIs 0.6%, Public 36.6%.Dec '23: Promoters 55.5%, FIIs 7.3%, DIIs 0.6%, Public 36.6%.Mar '24: Promoters 55.5%, FIIs 7.3%, DIIs 0.6%, Public 36.6%.Jun '24: Promoters 55.5%, FIIs 7.3%, DIIs 0.6%, Public 36.6%.Sep '24: Promoters 60.4%, FIIs 2.4%, DIIs 0.6%, Public 36.6%.Dec '24: Promoters 60.4%, FIIs 2.4%, DIIs 0.6%, Public 36.6%.Mar '25: Promoters 60.4%, FIIs 2.4%, DIIs 0.6%, Public 36.6%.Jun '25: Promoters 60.4%, FIIs 2.9%, DIIs 0.6%, Public 36.2%.Sep '25: Promoters 61.1%, FIIs 2.4%, DIIs 0.6%, Public 35.9%.Dec '25: Promoters 61.1%, FIIs 2.5%, DIIs 0.6%, Public 35.8%.Mar '26: Promoters 61.1%, FIIs 2.5%, DIIs 0.6%, Public 35.8%.Jun '26: Promoters 61.1%, FIIs 2.5%, DIIs 0.6%, Public 35.8%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Twinshield Consultants Private Limited +3.91 pp 9.11% held
The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Sicagen India Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Ranford Investments Ltd | 18.70% | unchanged |
| Darnolly Investments Ltd | 18.39% | unchanged |
| Ami Holdings Private Limited | 12.24% | unchanged |
| Twinshield Consultants Private Limited | 9.11% | +3.91 pp |
| Mercantile Ventures Limited | 2.50% | unchanged |
| Ares Diversified FPI fund | 2.42% | unchanged |
| Sangeetha S . | 2.38% | unchanged |
| Investor Education And Protection Fund Authority Ministry Of Corporate Affairs | 2.01% | unchanged |
| Southern Petrochemical Industries Corporation Limited | 1.46% | unchanged |
| Mahendra Girdharilal Wadhwani | 1.26% | unchanged |
| South India Travels Pvt Ltd | 1.00% | −3.90 pp |
| The Express Carriers Limited | 0.11% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
AttractiveTo justify its price of ₹54, this stock must grow earnings at 5% every year for 7 years. Our analysis caps realistic growth at ~31%. At that growth it is worth ₹209 — upside of 290%.
- Growth the price implies
- 4.9% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 31.1% a year
- net profit, FY24–FY26 · EPS 31.2%
- The gap
- -0.3 pp
- 290% downside if it only repeats history
Learn to analyse Sicagen India Limited
Guides on how to read this kind of business and the numbers that matter.