Sicagen India 2026 AGM Approves 10% Dividend

Meeting Details

The 22nd Annual General Meeting of Sicagen India Limited was held on Thursday, 17th September, 2026 at 03:30 p.m. (IST) through Video Conferencing (VC)/Other Audio Visual Means (OAVM) facilitated by Central Depository Services (India) Limited (CDSL) through their WebEx platform. The meeting commenced at 03:30 p.m. and concluded at approximately 03:55 p.m. Mr. Ashwin C Muthiah, Chairman of the Company, presided over the meeting.

Business Transacted

Ordinary Business:

1. Adoption of Standalone and Consolidated Financial Statements of the Company for the year ended 31st March 2026 and the Reports of the Board of Directors and Auditors thereon.

2. Declaration of equity dividend for the year 2025-26.

3. Appointment of a Director in the place of Mr. Ashwin C Muthiah (DIN: 00255679), who retires by rotation and being eligible, offers himself for re-election.

4. Appointment of a Director in the place of Mr. R. Chandrasekar (DIN: 06374821), who retires by rotation and being eligible, offers himself for re-election.

Special Business:

5. Ratification of the remuneration payable to M/s. J. Karthikeyan & Associates, Cost Auditor for the financial year 2026-27.

Voting Arrangements

Remote e-Voting facility was made available prior to the meeting, and venue e-voting facility was made available during the meeting for those members who had not exercised their votes through remote e-Voting. M/s. KRA & Associates, Practicing Company Secretaries, were appointed as the Scrutinizers for both remote e-voting and e-voting during the AGM. The e-voting results will be announced to BSE Ltd. within 2 working days from the conclusion of the AGM.

Financial Performance Highlights FY 2025-26

Standalone Performance:

• Total standalone turnover: ₹52,822 lakhs (compared to ₹54,603 lakhs in FY 2024-25)
• Profit Before Tax: ₹1,738 lakhs (compared to ₹2,002 lakhs in FY 2024-25, representing a 15% decline)
• Decline in PBT attributed to increase in raw material cost and certain administrative expenditure

Consolidated Performance:

• Total revenue: ₹98,215 Lakhs (compared to ₹89,994 Lakhs in FY 2024-25)
• Profit Before Tax: ₹2,414 Lakhs (compared to ₹2,418 Lakhs in FY 2024-25)

Divisional Performance Breakdown

Building Materials Division (BMD):

• Revenue: ₹39,928 Lakhs (compared to ₹43,744 Lakhs in FY 2024-25)
• Profit Before Tax: ₹271 Lakhs (compared to ₹202 Lakhs in FY 2024-25, representing 34% improvement)
• Closed loss-making branches resulting in revenue decline but significant profitability improvement
• Fourth quarter steel price increase supported margin improvement

Power & Control Systems Division (PCS):

• Revenue: ₹5,126 Lakhs (6% increase from ₹4,835 Lakhs in FY 2024-25)
• Profit Before Tax: ₹1,012 Lakhs (6% increase from ₹956 Lakhs in FY 2024-25)

Industrial Packaging Division (IPD):

• Revenue: ₹4,125 Lakhs (3.5% increase from ₹3,986 Lakhs in FY 2024-25)
• Profit Before Tax: ₹608 Lakhs (7% decline from ₹655 Lakhs in FY 2024-25)
• Profitability affected by increase in raw material costs and operational expenses
• Faced challenges due to volatility in procurement prices of mild steel plates during last quarter

Speciality Chemicals Division (SCD):

• Revenue: ₹1,531 Lakhs (38% increase from ₹1,105 Lakhs in FY 2024-25)
• Profit Before Tax: ₹350 Lakhs (16% increase from ₹300 Lakhs in FY 2024-25)
• Growth driven by increase in volume of sales

Other Trading Activities:

• Revenue: ₹1,455 Lakhs
• Profit Before Tax: ₹35 Lakhs

Strategic Initiatives and Capital Expenditure

The Industrial Packaging Division has initiated action for setting up a new manufacturing unit producing 210-litre capacity HDPE barrels adjacent to its existing MS barrel plant at Chennai. The project has an initial installed capacity of 2.10 lakh HDPE barrels per annum with a revised capital investment of ₹14.50 Crores. Commercial production is expected to commence during FY 2026-27.

Dividend Declaration

The Board of Directors has recommended a dividend of 10% for the financial year 2025-26, subject to approval of shareholders at the meeting.

Corporate Social Responsibility (CSR)

The Company spent ₹35.25 lakhs during the year on CSR initiatives, primarily focused on constructing sanitation blocks at government schools in Thiruvallur district near Chennai. An unspent amount of ₹18.33 Lakhs is being allocated for sanitation projects in government schools of other areas to be completed in FY 2026-27.

Digital and HR Initiatives

• New CRM system rolled out across all branches to improve sales productivity and customer retention
• Business analytics solution implementation in process
• Revised HR Rules and Policy Manual 2025-26 introduced in line with new Labour Code

Economic Context

The Chairman noted that India's real GDP grew by 7.7% during FY 2025-26. The conflict in West Asia contributed to volatility in commodity prices including steel, petroleum products, oils and lubricants, and chemicals, affecting customers through higher logistics costs and supply-chain disruptions.