Sigachi Industries Limited faces a significant corporate development as its Managing Director & CEO, Mr. Amit Raj Sinha, was remanded on December 27, 2025, in connection with the ongoing investigation relating to the fire incident at the company's Hyderabad manufacturing facility. The company has informed stock exchanges about this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, while ensuring operational continuity through interim leadership arrangements.

Leadership Transition and Operational Continuity

Following the remand of the Managing Director & CEO, the company has implemented immediate measures to maintain business operations. Mr. Lijo Stephen Chacko, Deputy Group CEO, will oversee the company's operations in the interim period. The company has assured stakeholders that all necessary measures have been taken to ensure continuity of operations and day-to-day activities.

Board Meeting and Fund Raising Plans

Despite the leadership challenge, Sigachi Industries has scheduled a board meeting for December 31, 2025, to discuss raising funds through non-convertible debentures via private placement. This development comes after the company received a credit rating downgrade from CARE Ratings Limited, with its long-term bank facilities rating revised from CARE A- to CARE BBB+ (Rating Watch with Negative Implications) following the operational and financial impact of the fire incident.

Fire Incident Impact and Investigation

The fire at Sigachi's Hyderabad plant on June 30, 2025, caused complete destruction of the 6,400 MTPA capacity facility, representing 30% of total installed capacity and contributing 20% of total operating income. The incident resulted in 54 fatalities and injuries to 28 employees, prompting a government investigation that remains ongoing and has now led to the remand of the company's top executive.

Financial Performance and Recovery Strategy

The H1 FY26 financial results reflect the significant impact of the incident, with revenue of ₹245.16 crores, PBILDT margin of 15.52%, and net loss of ₹90.44 crores due to exceptional provisions of ₹116.35 crores for plant loss and compensation. Post-incident, production operations shifted to the company's Dahej and Jhagadia units in Gujarat, with management targeting 90% utilization by Q4 FY26.

The company expects to recover ₹51.00 crores of insurance claims for plant and machinery loss by the end of December 2025, to be received in tranches extending through Q4 FY26 or Q1 FY27.

Sigachi Industries Limited , a prominent player in the pharmaceutical sector, witnessed significant promoter shareholding changes as Amit Raj Sinha sold substantial equity stakes through open market transactions. The promoter submitted a revised disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, providing corrected details of his share sale activities.

Share Sale Transactions

Amit Raj Sinha conducted share sales in two phases through open market transactions. The revised disclosure clarifies the mode of sale, addressing earlier discrepancies noted by BSE.

Impact on Shareholding Pattern

The transactions resulted in a significant reduction in Amit Raj Sinha's stake in the company. His shareholding decreased from 21.01 crore shares to 14.00 crore shares.

Promoter Group Holdings

The promoter group of Sigachi Industries comprises twelve entities including family members and trusts. After the transactions, the total promoter group holdings stand at 12,70,38,450 shares, representing 33.24% of the company's share capital.

Key Promoter Group Members:

• Rabindra Prasad Sinha: 15,25,8,400 shares (3.99%)
• Swati Sinha: 90,00,000 shares (2.36%)
• RPS Industries Pvt Ltd: 1,15,07,250 shares (3.01%)
• Nitin Raj Sinha: 63,74,250 shares (1.67%)

Regulatory Compliance

The revised disclosure was submitted following BSE's communication regarding discrepancies in the original filings. Amit Raj Sinha provided complete details including the mode of sale, which was initially missing from earlier disclosures dated September 10 and September 12.

Company Profile

Sigachi Industries Limited operates in the pharmaceutical sector with shares listed on both National Stock Exchange of India Limited and BSE Limited. The company maintains a total equity share capital of ₹38.21 crore, comprising 38.21 crore shares of ₹1 each.

This development reflects the dynamic nature of promoter holdings in listed companies and emphasizes the importance of accurate regulatory disclosures in maintaining market transparency.