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Sicagen India Ltd (SICAGEN)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 533014 NSE: SICAGEN Trading | Small Cap | Sicagen India Share Price
₹52.79 -1.09 (-2.02%)
As on 16-Sep'26 16:59
Sicagen India Ltd (SICAGEN)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 533014 NSE: SICAGEN Trading | Small Cap | Sicagen India Share Price
₹52.79 -1.09 (-2.02%)
As on 16-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹213 Cr.
Current Price
₹52.8
52-Week Low / High
₹42 / 76
TTM EPS
₹5.2
TTM Sales
₹1,055 Cr.
Book Value per Share
₹126.8
P/E Ratio
10.42
Lower than its 5-year historical median
Industry PE
38.9
Price to Book (P/B)
0.42
Lower than its 5-year historical median
Price to Sales (P/S)
0.20
Lower than its 5-year historical median
EV/EBITDA
5.24
Lower than its 5-year historical median
Dividend Yield
1.89%
Profitability Efficiency
Return on Equity (ROE)
3.69%
Outperforms industry median
Return on Capital Employed (ROCE)
6.06%
Outperforms industry median
Return on Assets (ROA)
2.41%
Operating Profit Margin
4.1%
Net Profit Margin
1.86%
Gross Profit Margin
3.7%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-3.42%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
12.19%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
5.61%
Asset Quality
Promoter Holding
61.13%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹462 Cr.
Equity
₹39.6 Cr.
Face Value
₹10
All Time Low / High
₹2.81 / 200.00
Check Before You Invest
Quality
Not GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Semi Strong
Is Sicagen India Ltd a good quality company?
Sicagen India Ltd is a weak quality company, based on a inconsistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Sicagen India Ltd performance compare with that of its Peers?
Revenue growth of Sicagen India Ltd vs industry peers?
Sicagen India Ltd revenue CAGR is 12.44%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Sicagen India Ltd?
Promoters hold 61.13% of the Sicagen India Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Sicagen India Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 10.1% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Sicagen India Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 3% | 3.1% | 2.8% | 2.6% | 2.9% | 2% | 5.4% | 3.8% | 5.4% | 4.8% | - |
| Value Creation Index ⓘ | -0.8 | -0.8 | -0.8 | -0.8 | -0.8 | -0.9 | -0.6 | -0.7 | -0.6 | -0.7 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 561 | 565 | 538 | 434 | 348 | 443 | 439 | 477 | 539 | 520 | 532 |
| Sales YoY Gr. | - | 0.8% | -4.8% | -19.3% | -19.9% | 27.3% | -0.9% | 8.7% | 12.9% | -3.4% | - |
| Adj EPS ⓘ | 1.9 | 1.6 | 0.8 | 0.6 | 1.5 | -0.2 | 4.2 | 2.3 | 3.3 | 3.4 | 3.7 |
| YoY Gr. | - | -15.6% | -49.4% | -24.4% | 141.9% | -113.3% | NA | -43.9% | 41.2% | 2.4% | - |
| BVPS (₹) ⓘ | 96.6 | 97.6 | 96.2 | 95 | 98.4 | 102.8 | 104.8 | 107 | 111.1 | 106.4 | 107.8 |
| Adj Net Profit ⓘ | 7.6 | 6.4 | 3.3 | 2.4 | 5.9 | -0.8 | 16.4 | 9.2 | 13 | 13.3 | 15 |
| Cash Flow from Ops. ⓘ | -11.5 | -10.9 | 6.3 | -37 | 25.1 | 1.2 | 10.6 | 27.7 | 23.9 | 17.4 | - |
| Debt/CF from Ops. ⓘ | -5.7 | -4.9 | 10.4 | -0.9 | 1.2 | 26.1 | 4.5 | 1.5 | 2.4 | 3.3 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -0.8% | 8.4% | 5.9% | -3.4% | ||||
| Adj EPS ⓘ | 6.5% | 17.6% | -6.7% | 2.4% | ||||
| BVPSⓘ | 1.1% | 1.6% | 0.5% | -4.2% | ||||
| Share Price | 9.7% | 15.7% | 7.9% | -26.9% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 1.9 | 1.7 | 0.9 | 0.7 | 1.6 | -0.2 | 4 | 2.2 | 3 | 3.1 | 3.5 |
| Op. Profit Mgn % ⓘ | 0.9 | 0.7 | 1.1 | 2 | 3.4 | 3.8 | 3.4 | 3.6 | 4 | 4.1 | 4.4 |
| Net Profit Mgn % ⓘ | 1.4 | 1.1 | 0.6 | 0.6 | 1.7 | -0.2 | 3.7 | 1.9 | 2.4 | 2.6 | 2.8 |
| Debt to Equity ⓘ | 0.2 | 0.1 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | - |
| Working Cap Days ⓘ | 202 | 180 | 195 | 232 | 265 | 208 | 223 | 206 | 185 | 193 | 95 |
| Cash Conv. Cycle ⓘ | 76 | 81 | 84 | 105 | 133 | 99 | 104 | 104 | 95 | 101 | 62 |
Valuation of Sicagen India - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 711 | 738 | 820 | 699 | 542 | 836 | 895 | 795 | 891 | 973 |
| Operating Expenses ⓘ + | 708 | 737 | 819 | 688 | 533 | 814 | 869 | 768 | 856 | 934 |
| Operating Profit ⓘ | 3 | 1 | 1 | 11 | 8 | 22 | 27 | 27 | 35 | 39 |
| Operating Profit Margin (%) | 0.5% | 0.1% | 0.2% | 1.6% | 1.6% | 2.6% | 3.0% | 3.4% | 3.9% | 4.0% |
| Other Income ⓘ + | 15 | 15 | 17 | 11 | 8 | 9 | 8 | 7 | 9 | 10 |
| Interest ⓘ | 7 | 9 | 9 | 9 | 5 | 6 | 9 | 11 | 11 | 13 |
| Depreciation ⓘ | 4 | 5 | 6 | 10 | 10 | 11 | 11 | 10 | 11 | 11 |
| Profit Before Tax ⓘ | 8 | 2 | 3 | 3 | 1 | 5 | 22 | 14 | 24 | 25 |
| Tax ⓘ | 0 | 1 | 3 | 3 | 5 | 6 | 4 | 3 | 7 | 7 |
| Profit After Tax | 7 | 1 | 0 | 0 | -3 | -1 | 18 | 11 | 17 | 18 |
| PAT Margin (%) | 1.0% | 0.2% | 0.0% | 0.1% | -0.6% | -0.1% | 2.0% | 1.3% | 1.9% | 1.9% |
| Adjusted EPS (₹) | 1.9 | 0.3 | 0.0 | 0.1 | -0.8 | -0.2 | 4.5 | 2.7 | 4.3 | 4.6 |
| Dividend Payout Ratio (%) | 31.80% | 206.50% | 1,217.50% | 549.60% | -74.20% | -162.10% | 13.30% | 22.60% | 23.10% | 21.90% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 384 | 393 | 382 | 375 | 395 | 422 | 440 | 460 | 484 | 495 | |
| Debt + | 89 | 97 | 118 | 79 | 64 | 80 | 107 | 104 | 132 | 143 | |
| Minority Interest | 8 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 56 | 76 | 150 | 102 | 53 | 125 | 53 | 92 | 43 | 57 | |
| Others Liabilities ⓘ | 65 | 61 | 62 | 68 | 57 | 54 | 51 | 93 | 68 | 76 | |
| Total Liabilities ⓘ | 603 | 626 | 712 | 624 | 568 | 681 | 651 | 749 | 727 | 772 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 183 | 203 | 148 | 165 | 165 | 138 | 137 | 135 | 133 | 137 | |
| CWIP ⓘ | 12 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 0 | 0 | |
| Investments ⓘ | 54 | 34 | 29 | 23 | 37 | 70 | 69 | 73 | 79 | 66 | |
| Inventories | 120 | 122 | 116 | 133 | 105 | 104 | 145 | 131 | 129 | 148 | |
| Trade Receivables | 147 | 185 | 267 | 206 | 171 | 246 | 187 | 249 | 229 | 244 | |
| Cash Equivalents | 24 | 16 | 74 | 17 | 35 | 28 | 29 | 46 | 68 | 85 | |
| Others Assets ⓘ | 63 | 66 | 78 | 80 | 55 | 96 | 84 | 114 | 88 | 92 | |
| Total Assets ⓘ | 603 | 626 | 712 | 624 | 568 | 681 | 651 | 749 | 727 | 772 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | -41 | -12 | 20 | -37 | 31 | -2 | 15 | 25 | 33 | 44 |
| Cash Flow From Investing Activity ⓘ + | 5 | 11 | -5 | 45 | -17 | 18 | -4 | -3 | -14 | -7 |
| Cash Flow From Financing Activity ⓘ + | 22 | -4 | -12 | -18 | -12 | -18 | -13 | -20 | -17 | -19 |
| Net Cash Flow ⓘ | -13 | -5 | 3 | -10 | 3 | -2 | -3 | 2 | 2 | 18 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 1.69 | 0.3 | 0.03 | 0.1 | -0.83 | -0.15 | 4.14 | 2.34 | 3.63 | 3.69 |
| ROCE (%) | 2.78 | 2.21 | 2.42 | 2.56 | 1.51 | 2.27 | 5.82 | 4.41 | 5.97 | 6.06 |
| Asset Turnover Ratio | 1.17 | 1.2 | 1.23 | 1.05 | 0.91 | 1.34 | 1.34 | 1.14 | 1.21 | 1.3 |
| PAT to CFO Conversion(x) | -5.86 | -12 | N/A | N/A | N/A | N/A | 0.83 | 2.27 | 1.94 | 2.44 |
| Working Capital Days | ||||||||||
| Receivable Days | 67.20 | 81.80 | 100.60 | 123.70 | 126.90 | 91 | 88.30 | 100.10 | 97.80 | 88.50 |
| Inventory Days | 52.90 | 59.90 | 52.90 | 64.80 | 79.90 | 45.50 | 50.60 | 63.30 | 53.30 | 52.10 |
| Payable Days | 24.40 | 36.70 | 56.40 | 74.20 | 59.20 | 42.60 | 40.10 | 37.40 | 31.20 | 21.20 |
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Sicagen India Ltd FAQs
The current trading price of Sicagen India on 16-Sep-2026 16:59 is ₹52.79.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 15-Sep-2026 the market cap of Sicagen India stood at ₹213.2 Cr
The latest P/E ratio of Sicagen India as of 15-Sep-2026 is 14.48.
The latest P/B ratio of Sicagen India as of 15-Sep-2026 is 0.50.
The 52-week high of Sicagen India is ₹76.40 and the 52-week low is ₹42.13.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Sicagen India is ₹532 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Sicagen India Ltd is a below average quality company.
The key valuation ratios of Sicagen India Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Sicagen India Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Sicagen India Ltd
Sicagen India is country's leading provider of trading and marketing services for construction-related industrial and retail infrastructure.
Sical Logistics Ltd, India’s leading provider of integrated multi-modal logistics solutions for bulk and containerized cargo and offshore logistics, received the order from the Hon'ble High Court of Madras, sanctioning the de-merger of its non logistics businesses into a wholly owned subsidiary, Sicagen India Limited, with effect from 1 October 2006.
The approval marked the successful completion of the de-merger process which was initiated by Sical in the beginning of 2007. The de-merger was an important step in the company’s restructuring efforts and will enable dedicated focus on its core business of bulk, container and offshore logistics.
As per the scheme sanctioned by the High Court, all the shareholders of Sical were allotted one equity share in Sicagen at a premium of Rs.74.50 per share, credited as fully paid up for every one share held in Sical. The entire paid up capital of Sicagen is currently held by Sical and its nominees.
As a result of the de-merger, Sicagen consists of trading and service undertakings and coffee plantations. The trading companies consist of building materials and vehicle sales while the services undertakings will consist of travel related services, ship building and repairs, governor services and windmill generation. The assets and liabilities of the said undertakings was transferred to Sicagen, at the values appearing on the books of Sical as of 30 September '06. The transfer included all movable and immovable assets, liabilities, including all intellectual property rights, books, records and requisite documents pertaining to the business of the company.
Business area of the company:
- Building materials trading- Sicagen's core business is trading of building materials such as steel tubes, MS/GI pipes, boiler tubes, seamless tubes, rectangular/square hollow sections, TMT steel rebars, PVC pipes, electrical cables, steel fittings and cement. Sicagen is the authorized distributor for Tata Steel, Jindal Pipes, SAIL, Finolex Cables, Supreme Industries, Maharashtra Seamless and ACC Cements, and Tata Steel's consignment agent at Aurangabad, Ernakulam, Hosur and Pune.
- Vehicle sales- Sicagen is the leading dealer of commercial vehicles for Tata Motors in India's Tamil Nadu state. Governor Services- Goodwill Governor Services is India's only authorized service center for woodward, makers of the world's finest governors.
- Boat Building- Goodwill Engineering Works, a Sicagen division, builds passenger and cargo vessels, boats, tugs and barges.
- Speciality eco-chemicals - Sicagen’s speciality eco-chemicals division provides water treatment and process improvement solutions for the petrochemical, fertilizer, refinery, power, pharmaceuticals, agro and pesticides industries.
Prominent customers:-
- ABB
- Ashok Leyland
- Atlas Copco
- Blue Star
- Cipla
- Dalmia Cement
- Deccan Cements
- Dr Reddy's Laboratories
- Greaves Cotton
- Heritage Foods
- Hetero Drugs
- Hindalco
- Hindustan Unilever
- The India Cements
- Lakshmi Card Clothing
- Lakshmi Machine Works
- Malabar Cements
- Manali Petrochemicals
- Matrix Laboratories
- Micro Labs
- Naandi Foundation
- Nagarjuna Construction
- Nicholas Piramal
- Orchid Chemicals and Pharmaceuticals
- Sathavahana Ispat
- Srichakra Cements
- Sundaram-Clayton
- Voltas
- Venky's India
- Wipro Consumer Products
Achievements/ recognition
- It has won Tata Steel's Star Project Distributor award for 2005-06 and 2006-07.
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