Sigachi Industries reported a 34.3% jump in consolidated net profit to Rs 9.55 crore in Q3 FY22 from Rs 7.11 crore posted in Q3 FY21.
Net sales grew by 35.8% to Rs 65.59 crore in Q3 FY22 from Rs 48.30 crore registered in Q3 FY21. Profit before tax stood at Rs 12.18 crore in Q3 FY22, 43% higher than Rs 8.52 crore recorded in the same period last year.Meanwhile, the company's total expenses surged 33.8% to Rs 52.93 crore in quarter ended December 2021 as compared to the same period last year. The result was announced after market hours yesterday, 3 February 2022.
Shares of Sigachi Industries were trading 2.32% lower at Rs 373.05 on BSE.
Shares of Sigachi Industries entered bourses on 15 November 2021. The scrip was listed at Rs 575, a premium of 252.76% to the issue price of Rs 163 a share. The initial public offer (IPO) of Sigachi Industries was subscribed 101.91 times. The issue opened for bidding on 1 November 2021 and it closed on 3 November 2021. The price band of the IPO was fixed at Rs 161-163 per share.
Sigachi Industries, incorporated in 1989, started its journey manufacturing chlorinated paraffin and hydrochloric acid in its manufacturing unit situated at Hyderabad. The company diversified its product portfolio in 1990 to manufacture microcrystalline cellulose (MCC). MCC is widely used as an excipient for finished dosages in the pharmaceutical industry.
The company 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.
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