The incident has reportedly resulted in multiple casualties, sparking investor concerns over potential operational disruptions and regulatory consequences.
According to initial reports, the blast occurred when a chemical reactor exploded during operations, leading to a massive fire that engulfed the facility. One building was reportedly reduced to rubble by the force of the explosion. At least 10 people are confirmed dead and over 20 others seriously injured.
The company has yet to issue an official statement on the extent of the damage or the impact on operations. However, the gravity of the incident has clearly rattled investor sentiment, dragging the stock sharply lower.
Sigachi Industries is one of the leading manufacturers of Microcrystalline Cellulose (MCC) in the domestic as well as the international market, supplying essential molecules for pharma excipients, nutraceuticals, cosmetics and food industries.
The company’s consolidated net profit tanked 11.8% to Rs 13.27 crore on a 23.1% rise in revenue from operations to Rs 128.20 crore in Q4 FY25 over Q4 FY24.