1:10 Stock Split: Re 1/Share Dividend: Sigachi Industries Makes New Announcement

Small cap company operating in pharmaceuticals sector, Sigachi Industries shares witnessed correction of 11.29% in trade today on BSE. Sigachi Industries stock declined 29.58% in last 2-weeks after nearly jumping 143% in last 1-year. The company has a market capitalisation of Rs 2036.29 crore. Sigachi has a ROE of 10.37 and PE 57.16. Check details below:

Sigachi Arabia Projects Revenue Visibility Of USD 180 Million: As per the regulatory filing of Sigachi dated March 11, 2024, "Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, we would like to inform the Exchanges that Sigachi Arabia, a Joint Venture (JV) between our wholly owned subsidiary Sigachi MENA FZCO and Saudi National Projects Investment Limited (SNP), has projected a revenue visibility of USD 180 Million for the Financial Year 2024-25. The revenue is anticipated to be generated primarily from Saudi Government Tenders and engagements with large corporates. Leveraging the local presence, Sigachi Arabia aims to capitalize on the opportunities presented within the Saudi Arabian market."

Sigachi MENA FZCO will hold 75% stake and SNP, 25% in the Sigachi Arabia.

Earlier this month on March 6, 2024 Board of Directors of Sigachi Industries Limited considered and approved inter alia the following: 1. Allotment of 47,18,080 equity shares of Re. 1/- each to non-promoters of 47,18,080 (pre split - 4,71,808) warrants at an issue price of Rs. 26.1/- per share.

Sigachi Industries Shares Performance & Return: The 52-week high price of Sigachi Industries shares on BSE is Rs 95.94 apiece and 52-week low price is Rs 22.00 apiece, respectively. Sigachi Industries shares gained 24% in last 3-months, jumped 76% in last 6-months and soared 143% in last 1-year. In last 2-years, Sigachi Industries shares zoomed 104%.

Sigachi Industries Dividend, Stock Split In 2023: The small cap pharma company split its shares in the ratio of 1:10 in 2023 and the ex-split date was fixed as October 9, 2023. It announced final dividend of Re 1 in 2023 and shares traded ex-dividend on August 31, 2023. Sigachi Industries declared 1 stock split in its history.

Sigachi Industries Financials: Sigachi Industries on January 20, 2024 declared its Q3 results. It announced a surge of 64.05% in its consolidated net profit year-on-year (YoY) to Rs 16.11 crore for the December 2023 quarter as against the net profit of Rs 9.82 crore in the corresponding quarter of last year. It announced a 64% surge in its operating profit at Rs 23 crore.

The pharma stock's consolidated revenue from operations rallied 61.47% YoY to Rs 110.95 crore for the quarter ended December 31, 2023 as compared to Rs 68.85 crore in the similar quarter last year. Its operating profit margins arrived at 20% for quarter under consideration.

Sigachi Industries About: Sigachi was incorporated in the year 1989 and established itself as one of the largest manufacturers of Microcrystalline Cellulose worldwide. With three Multilocational Facilities in Telangana and Gujarat, Sigachi has ensured supply chain reliability for its customers spread across the Globe. Its products have applications in the pharmaceutical industry, in the nutraceutical and supplement industries, the food ingredients industry and the drug formulation sector, according to its official website.

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