Sigachi Industries drops as CEO Amit Raj Sinha remanded in Hyderabad unit fire probe

Sigachi Industries fell 5.51% to Rs 32.09 after the company disclosed that its managing director and chief executive officer Amit Raj Sinha has been remanded in connection with a fire incident at its Hyderabad unit.

The company said Sinha was remanded on 27 December 2025, as part of the ongoing investigation into the fire that occurred on 30 June 2025, at its Pashamylaram facility near Hyderabad.

Sigachi Industries said it has taken all necessary steps to ensure continuity of operations and day-to-day business activities.

In the interim, deputy group CEO Lijo Stephen Chacko will oversee the operations of the company, it added.

A blast and fire at Sigachi Industries plant in Sangareddy on 30 June 2025 killed 46 people, injured several others, and left eight missing. Police booked six company officials. Local media said arrests followed delays in paying Rs 1 crore compensation to victims families.

Sigachi Industries manufactures MCC in 60 distinct grades ranging from 15 microns to 250 microns. Sigachi caters its products to industries, including pharmaceutical, food, nutraceutical, and cosmetic sectors.

On a consolidated basis, net profit of Sigachi Industries declined 50.92% to Rs 10.69 crore while net sales declined 11.55% to Rs 110.48 crore in Q2 September 2025 over Q2 September 2024.

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