Weathering adversity, delivering more
Dear Shareholders
I am extremely pleased to present the Annual Report of Sigachi Industries Limited for
the financial year 2022-2023. With a legacy of over 30 years, Sigachi is one of the
industry leaders in the field of Pharma Excipients, Nutra and food ingredients. We are one
of the leading manufacturers of Microcrystalline Cellulose (MCC) worldwide and continue to
sustain our market leadership on the back of extensive global operations, robust R&D
efforts and a focus on driving excellence across the organisation.
Despite the uncertainties in the global economy, mostly on account of geopolitical
conflicts, instability in the US banking sector and global supply chain disruptions, a
swift recovery is being witnessed in different parts of the world.
The Indian economy too has been stressed with inflationary pressures and rising
commodity prices. However, a supportive policy environment, prudent efforts by the
government and the central bank continue to provide some relief and fuel growth prospects
for the near term.
Amid macroeconomic headwinds, our Company has delivered a strong performance in
FY22-23. Our revenue has increased significantly over the previous year, mostly on account
of our ability to provide customers with a comprehensive product portfolio and serve
diverse end-use applications.
This success is a testament to the hard work and dedication of our employees, who have
shown great resilience and adaptability in the face of unprecedented circumstances. Our
focus on excellence, respect, integrity and resourcefulness has enabled us to maintain our
position as a leading player in the industry.
We ventured into human nutritional segment, primarily focusing on B2B markets, in India
and abroad. Along with pharma, Sigachi now aims to broaden its scope by exploring
prospects in the nutritional markets of India as well as its export market. We have also
expanded our distribution network and forayed into new markets, which will help us further
grow our business in the coming years.
At Sigachi, we are committed to sustainability and social responsibility. We have
implemented several initiatives to reduce our environmental footprint and support local
communities. We believe that responsible business practices are essential for long-term
success and we will continue to prioritise them in the years to come.
Looking ahead, we are optimistic about the future. We believe that our strong financial
position, experienced leadership team, and skilled workforce will enable us to continue to
grow and succeed in the upcoming years.
Before I conclude, I would like to express my deepest appreciation for our
shareholders, investors, and partners for their unwavering support and confidence in us.
Your contributions have helped us achieve our goals and we look forward to working
together to accomplish bigger milestones.
Thank you.
Best Regards,
Mr. Rabindra Prasad Sinha
Chairman