Sigachi Industries Limited, a leading global manufacturer of pharmaceutical excipients and active pharmaceutical ingredients (APIs), has provided clarification to BSE regarding the delayed disclosure of Atul Dhavle's appointment as Chief People Officer. The company initially announced the appointment on January 5, 2026, but faced regulatory queries about the timing of disclosure.

Regulatory Compliance Clarification

Following BSE's communication dated January 6, 2026, requesting additional details regarding the corporate announcement filed under Regulation 30 of SEBI (LODR) Regulations, 2015, Sigachi Industries submitted a clarification letter. The exchange had observed a discrepancy regarding the delay in informing the appointment details within the mandatory 12-hour timeframe from the effective date of appointment.

Company's Response to Exchange Query

In its clarification dated January 6, 2026, the company acknowledged the delay and provided a detailed explanation. The management stated that the delay in disclosing the Chief People Officer appointment was primarily due to oversight. Company Secretary and Compliance Officer Vivek Kumar signed the clarification, apologizing for the inadvertent delay and reaffirming the company's commitment to strict compliance with all applicable laws and regulations.

Strategic Leadership Appointment Details

Arul Dhavle's appointment as Chief People Officer became effective from January 3, 2026, as per the company's original disclosure under Regulation 30 of SEBI listing requirements. In his new role, Dhavle will work closely with the Board and leadership team to align human capital strategy with the company's long-term growth objectives.

Future Compliance Commitment

The company has assured the exchange of timely compliance in future disclosures. This clarification demonstrates Sigachi Industries' commitment to maintaining transparency and adhering to regulatory requirements, despite the initial oversight in meeting the 12-hour disclosure timeline mandated for key management appointments.

Sigachi Industries shares are expected to be in focus following a regulatory disclosure regarding the company's top leadership. The company informed stock exchanges on December 28, 2025, that its Managing Director and CEO Amit Raj Sinha was remanded on December 27, 2025, in connection with an ongoing investigation into a fire incident at the company's Hyderabad manufacturing unit.

Investigation and Incident Details

The fire incident at the Pashamylaram facility has resulted in significant casualties and triggered a criminal investigation. Key details of the incident and investigation timeline are outlined below:

The incident triggered a criminal investigation following allegations of gross negligence by the company. The Telangana-based pharmaceutical company later announced an ex-gratia payment of ₹1.00 crore each to the families of the deceased.

Interim Management Arrangements

To ensure operational continuity during this challenging period, Sigachi Industries has implemented interim leadership arrangements. Deputy Group CEO Lijo Stephen Chacko has been designated to oversee operations and day-to-day business activities. The company has assured stakeholders that all necessary measures have been taken to maintain business continuity.

Market Performance and Regulatory Compliance

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On Friday, shares of Sigachi Industries closed marginally in the red at ₹33.96 on the BSE.

Business Operations

Sigachi Industries operates manufacturing facilities across India and supplies microcrystalline cellulose and other excipients to pharmaceutical and food companies globally. The company has not commented on whether the fire incident or ongoing investigation has impacted production or financial performance.