Sigachi Industries Limited IPO
History of Sigachi Industries
The Company was incorporated as a private limited company in 1989, with the business to manufacture chlorinated paraffin and hydrochloric acid in our manufacturing unit situated at Hyderabad. In the year 1990, the Company diversified its product portfolio to manufacture microcrystalline cellulose (“MCC”). The Company commenced its export operations in the year 1996 by exporting its first order of MCC to Bangkok. Owing to the consistent efforts of the Company, the sale from the export operations constituted 32% of the total sales during the financial year ending March 31, 2004.
In the year 2000, with an aim to diversify its business activities, the Company started manufacturing premium grade microcrystalline cellulose by successfully commissioning a spray drier and a multi-fuel furnace, which in turn also increased the manufacturing capacity from 720 metric tonnes per annum to 1,080 metric tonnes per annum. Presently, they manufacture 59 different grades of MCC at the manufacturing units, situated at Hyderabad and Gujarat with an aggregate installed capacity of 11,880 MTPY.
With over 30 years of continuous growth, three multi-locational manufacturing facilities and consistent focus on delivering premium quality product, the Company is one of the leading manufacturers of MCC (cellulose based excipients) in India (Source: Research Report on Microcrystalline Cellulose (MCC) & Croscarmellose Sodium (CCS) Industry). They have also entered into operations and management agreements with Gujarat Alkalies and Chemicals Limited (“GACL”) for operating and managing the manufacturing units owned by GACL and for contract manufacturing of sodium chlorate, stable bleaching powder and poly aluminium chloride in the said units
Products of the Company
The company 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 manufacture 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. It also manufacture 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.
Presently, the company manufactures 59 different grades of MCC at the manufacturing units. The company operate 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 manufactures 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.
i. Pan India and International market presence
ii. Well experienced management team
iii. Comprehensive product portfolio
Objects of the Sigachi Industries Limited IPO:
Sigachi Industries Limited IPO Details:
|Open Date:||Nov 01 2021|
|Close Date:||Nov 03 2021|
|Face Value:||₹ 10 Per Equity Share|
|Issue Type:||Book Building|
|Issue Size:||125.43 Cr.|
|Lot Size:||90 Shares|
|Issue Price:||₹ 161 - 163 Per Equity Share|
Promoters And Management:
Financials of Sigachi Industries Limited IPO:
|Particulars (in lakhs)||Mar 21||Mar 20|
|Revenue from operations||19275||13906|
|Cost of raw materials consumed||9791||7403|
|Changes in inventory||282||-194|
|Employee benefits expense||1737||1491|
|Depreciation and amortization||231||195|
|Profit before tax||3,848||2,534.39|
|Profit for the year||3,026||2031|