Sical Logistics Limited (SICALLOG)

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Sical Logistics Limited (SICALLOG) · mywealthgrid

About

Sical Logistics Limited is a logistics solutions provider in transport services (Industrials sector), operating with a market cap of ₹923.53 Cr and quarterly revenue ranging ₹44–105 Cr (standalone). The company exhibits high leverage (D/E 3.3) and extreme profitability volatility, with net profit swinging from ₹47.78 Cr (Dec 2025) to -₹11.85 Cr (Mar 2026) within three months.

Face value: ₹10

Market cap

₹695 Cr

P/E

9.5×

P/B

5.3×

Dividend yield

ROE

37.5%

ROCE

12.1%

Debt / equity

3.3

OPM

20.3%

EPS (TTM)

₹9.2

Book value

₹16.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Extreme quarterly volatility with net profit and EPS swinging from ₹47.78 Cr / ₹7.32 (Dec 2025) to -₹11.85 Cr / -₹1.74 (Mar 2026) standalone in successive quarters, creating valuation uncertainty
High financial leverage (D/E 3.3) limits financial flexibility during loss-making periods; verify debt covenant compliance and refinancing capacity
Consolidated revenue (₹105.17 Cr) substantially exceeds standalone (₹44.72 Cr) in Mar 2026, indicating significant earnings pass through group subsidiaries; verify their profitability, control, and risk independence
Operating margin compression from 29.59% (Jun 2025) to 17.06% (Mar 2026) within nine months signals exposure to cost or pricing pressure; verify whether this reflects cyclical or structural deterioration

Generated analysis · source review pending

Growth drivers

Operating margin recovery: OPM reached 29.59% (Jun 2025) and 27.5% (Dec 2025) before falling to 17.06% (Mar 2026); stabilizing at 25%+ on the current ₹44–105 Cr quarterly revenue base would drive net profit from -₹7 Cr to ₹11–26 Cr annually
Consolidated entity growth: consolidated revenue (₹105+ Cr) exceeds standalone (₹44–105 Cr) by ₹60+ Cr per quarter, indicating material operations through group subsidiaries; verify whether these represent stable, profitable operations with independent growth trajectory
Verify whether the company will pursue capex investments in fleet expansion or infrastructure to increase utilization and revenue on the current base, leveraging the available debt capacity (D/E 3.3)

Generated analysis · source review pending

606 historical price candles were omitted because the exchange source has not been verified.

₹87.1-2.3%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 20.3%
+High promoter holding of 73.5% with no pledge

Cons

−Low return on equity of -52.9% (3-yr avg)
−Revenue shrank over the last 5 years (-5.2% a year)
−Heavily leveraged (debt/equity 3.3)
−Weak interest coverage of 1×
−Promoter holding fell 16.4 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

56/100

Business quality: 35
Growth: 50

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,194	1,525	1,006	504	349	392	221	222	386
	1,022	1,352	1,028	518	389	365	204	200	307
	173	173	-22	-14	-41	27	17	22	78
OPM %	14.5%	11.3%	-2.2%	-2.8%	-11.6%	6.9%	7.5%	9.8%	20.3%
Depreciation	63	72	84	79	71	56	48	38	42
Interest	62	64	55	139	21	19	39	43	72
	5	6	29	3	-119	-743	47	29	92
Profit before tax	53	43	-133	-1,167	—	—	-24	-31	57
Tax	23	19	-24	2	1	4	5	-14	8
Tax %	42.7%	43.6%	-17.7%	0.2%	—	—	19.1%	-47%	13.9%
	30	24	-109	-1,169	-257	-798	-28	-16	49
PAT margin %	2.6%	1.6%	-10.9%	-232.1%	-73.8%	-203.4%	-12.8%	-7.3%	12.8%
EPS (₹)	5.4	3.6	-18.3	—	-44.5	-129.9	-3.8	-5.1	6.5
EPS adjusted (₹)	5.5	4.1	-18.7	-199.7	-44	-122.2	-3.8	-2.5	6.2
Annual report	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	56	59	59	59	59	65	65	65	80
Reserves	469	544	433	-726	-989	-12	-37	-70	52
Minority interest	197	193	176	170	165	109	127	134	138
	1,040	1,097	744	393	1,251	470	497	532	433
	689	857	1,355	1,836	1,081	158	113	196	204
Total equity & liabilities	2,451	2,749	2,767	1,731	1,566	791	766	858	907
	921	907	856	761	689	600	557	602	555
CWIP	879	1,028	1,284	394	408	10	10	52	4
Investments	24	18	6	9	1	1	1	1	16
	627	795	621	567	468	180	198	203	332
Total assets	2,451	2,749	2,767	1,731	1,566	791	766	858	907

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	11.3%	-2.2%	-2.8%	-11.6%	6.9%	7.5%	9.7%	20.3%
EBIT margin %	6.6%	-10.6%	-18.4%	-32%	-7.3%	-14.3%	-7.3%	9.5%
PAT margin %	1.6%	-10.9%	-232.1%	-73.8%	-203.4%	-12.8%	-7.3%	12.8%
Working capital
Receivable days	95	87	154	148	51	73	119	91
Inventory days	4	6	11	9	—	0	0	0
Payable days	—	69	119	358	66	75	87	76
NWC days	—	24	46	-201	—	-2	32	15
Leverage
Current ratio	0.66	0.32	0.22	0.17	0.73	0.75	0.45	1.12
Debt to EBITDA	6.36	—	—	—	17.37	29.94	24.74	5.53
Debt to equity	1.82	1.51	-0.59	-1.34	8.79	17.3	-111.44	3.3
Interest coverage	1.7	-1.4	-0.6	-4.8	-0.1	-0.4	0.1	1
Asset turnover	0.55	0.36	0.29	0.22	0.5	0.29	0.26	0.43
Return ratios
Return on assets %	0.9%	-4%	-67.5%	-16.4%	-100.8%	-3.7%	-1.9%	5.4%
Return on capital employed %	6.8%	-5.4%	-19.7%	15.9%	-0.4%	-2.7%	0.6%	12.1%
Return on equity %	4%	-22.3%	175%	27.6%	-1,490.3%	-98.5%	341.1%	37.5%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	95%	95%	93.79%	93.79%	90%	90%	90%	89.89%	89.87%	89.87%	73.5%	73.5%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	3.09%	3.09%
	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.08%	0.11%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	4.98%	4.98%	6.19%	6.19%	9.98%	9.98%	9.98%	10.09%	10.11%	10.11%	23.33%	23.3%
No. of shareholders	—	—	—	—	—	—	—	—	40,330	39,958	40,051	40,121

Promoter holding down 21.5 percentage points since Sep 2023.

1 disclosure

Person	Deal	Shares	Value	Holding	Filed
Pristine Malwa Logistics Park Private LimitedPromoters	SellMarket Sale	53	₹5,919	89.87% → 89.87%	1 Oct 20257(2)

Disclosed under SEBI’s insider-trading regulations, which require a filing only above ₹10 lakh in a quarter — smaller dealings are in no disclosure. Holdings are the filer’s own percentages, not recomputed.

32 deals · 13 Oct 2021 – 12 Jan 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
12 Jan 2024	PRISTINE MALWA LOGISTICS PARK PRIVATE LIMITED	Block	BSE	Sell	6,00,000	₹270.55	₹16.23 Cr
12 Jan 2024	NEGEN CAPITAL SERVICES PRIVATE LIMITED	Block	BSE	Buy	6,00,000	₹270.55	₹16.23 Cr
12 Jan 2024	PRISTINE MALWA LOGISTICS PARK PRIVATE LIMITED	Bulk	BSE	Sell	6,00,000	₹270.55	₹16.23 Cr
12 Jan 2024	NEGEN CAPITAL SERVICES PRIVATE LIMITED	Bulk	BSE	Buy	6,00,000	₹270.55	₹16.23 Cr
29 Nov 2023	MANSI SHARE AND STOCK ADVISORS PVT LTD	Bulk	NSE	Buy	20,939	₹285.60	₹0.60 Cr
22 Nov 2023	MONIKA SHARMA	Bulk	NSE	Buy	16,500	₹276.10	₹0.46 Cr
21 Nov 2023	SETU SECURITIES PVT LTD	Bulk	NSE	Buy	18,000	₹284.99	₹0.51 Cr
21 Nov 2023	SETU SECURITIES PVT LTD	Bulk	NSE	Sell	3,100	₹280.00	₹0.09 Cr
20 Nov 2023	SHAH SHARAD KANAYALAL	Bulk	NSE	Buy	60,000	₹289.59	₹1.74 Cr
20 Nov 2023	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	NSE	Sell	44,282	₹289.00	₹1.28 Cr

1–10 of 32

1 / 4

Mr. Satishkumarreddy MulamreddyNon-Executive - Independent Director-Chairperson
Mr. Amit KumarNon-Executive - Non Independent Director
Sumith R KamathGroup Chief Financial Officer
Mr. Rajnish KumarNon-Executive - Non Independent Director
Mr. Sanjay MawarNon-Executive - Non Independent Director
Mr. S. RajappanExecutive Director
Mr. Sharad KumarNon-Executive - Independent Director
Ms. Neelaveni VNon-Executive - Independent Director
Mr. V.T. Doraivel KrishnanChief Financial Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Sical Logistics Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

2

Board meeting to consider results14 Aug 2026
Board meeting to consider results12 Aug 2026

1

Right Issue of Equity Shares18 Feb 2026 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

132 announcementsExport CSV

30 Sept 2026, 10:27 pmCompany Update

Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s

Appointment of Statutory Auditor/s PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	11.3%	-2.2%	-2.8%	-11.6%	6.9%	7.5%	9.7%	20.3%
EBIT margin %	6.6%	-10.6%	-18.4%	-32%	-7.3%	-14.3%	-7.3%	9.5%
PAT margin %	1.6%	-10.9%	-232.1%	-73.8%	-203.4%	-12.8%	-7.3%	12.8%
Working capital
Receivable days	95	87	154	148	51	73	119	91
Inventory days	4	6	11	9	—	0	0	0
Payable days	—	69	119	358	66	75	87	76
NWC days	—	24	46	-201	—	-2	32	15
Leverage
Current ratio	0.66	0.32	0.22	0.17	0.73	0.75	0.45	1.12
Debt to EBITDA	6.36	—	—	—	17.37	29.94	24.74	5.53
Debt to equity	1.82	1.51	-0.59	-1.34	8.79	17.3	-111.44	3.3
Interest coverage	1.7	-1.4	-0.6	-4.8	-0.1	-0.4	0.1	1
Asset turnover	0.55	0.36	0.29	0.22	0.5	0.29	0.26	0.43
Return ratios
Return on assets %	0.9%	-4%	-67.5%	-16.4%	-100.8%	-3.7%	-1.9%	5.4%
Return on capital employed %	6.8%	-5.4%	-19.7%	15.9%	-0.4%	-2.7%	0.6%	12.1%
Return on equity %	4%	-22.3%	175%	27.6%	-1,490.3%	-98.5%	341.1%	37.5%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Container Corporation Of India LimitedCONCORCONCOR	₹33,663 Cr	₹33,687 Cr	₹9,085 Cr	₹1,962 Cr	21.5%	₹1,242 Cr	13.7%	12.5%	9.8%	10
Delhivery LimitedDELHIVERYDELHIVERY	₹29,952 Cr	₹29,955 Cr	₹11,145 Cr	₹633 Cr	6.1%	₹94 Cr	1.5%	2.8%	1.6%	7
Shadowfax Technologies LimitedSHADOWFAXSHADOWFAX	₹15,982 Cr	₹15,982 Cr	₹4,202 Cr	₹212 Cr	5%	₹112 Cr	2.7%	9.6%	10.4%	10
Blue Dart Express LimitedBLUEDARTBLUEDART	₹10,657 Cr	₹10,857 Cr	₹6,357 Cr	₹1,016 Cr	15.5%	₹287 Cr	4%	19.1%	14.8%	-17
Shiprocket LimitedSHIPROCKETSHIPROCKET	₹8,730 Cr	₹8,972 Cr	₹2,024 Cr	₹-67 Cr	-3.3%	₹-79 Cr	-3.9%	-3.1%	-5.4%	—
Transport Corporation Of India LimitedTCITCI	₹6,727 Cr	₹6,946 Cr	₹5,026 Cr	₹531 Cr	10.5%	₹460 Cr	9.4%	16.5%	19.5%	40
Tvs Supply Chain Solutions LimitedTVSSCSTVSSCS	₹5,666 Cr	₹6,776 Cr	₹11,746 Cr	₹830 Cr	7.1%	₹65 Cr	1.1%	7.9%	6%	-169
Vrl Logistics LimitedVRLLOGVRLLOG	₹4,986 Cr	₹5,441 Cr	₹3,356 Cr	₹685 Cr	20.2%	₹267 Cr	7.4%	18.8%	21.3%	12
Afcom Holdings LtdAFCOMAFCOM	₹4,251 Cr	₹4,314 Cr	₹583 Cr	₹234 Cr	40.1%	₹122 Cr	20.9%	36.7%	36%	73
Mahindra Logistics LimitedMAHLOGMAHLOG	₹4,131 Cr	₹4,174 Cr	₹7,378 Cr	₹416 Cr	5.4%	₹38 Cr	0.2%	8%	0.3%	-26
Gateway Distriparks LimitedGATEWAYGATEWAY	₹2,592 Cr	₹2,884 Cr	₹2,211 Cr	₹478 Cr	21.7%	₹244 Cr	11.7%	11.2%	11.4%	-278
Tci Express LimitedTCIEXPTCIEXP	₹1,938 Cr	₹1,971 Cr	₹1,264 Cr	₹129 Cr	10.1%	₹82 Cr	6.6%	13.7%	10.3%	44

Date	Category	Subject	Filing
30 Sept 2026, 10:27 pm	Company Update Appointment of Statutory Auditor/s	Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s	PDF
30 Sept 2026, 10:11 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
30 Sept 2026, 10:00 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
28 Sept 2026, 2:20 pm	Insider Trading / SAST Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011	Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011.	PDF
15 Sept 2026, 5:16 pm	Company Update General	Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015-Execution Of Unattested Deed Of Pledge Of Securities (Shares)	PDF
7 Sept 2026, 8:48 pm	Company Update General	Intimation Under Regulations 30 And 36(1)(B) Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015	PDF
7 Sept 2026, 8:33 pm	AGM/EGM Postal Ballot	Sical Logistics Ltd - 520086 - Shareholder Meeting / Postal Ballot-Scrutinizer"s Report	PDF
4 Sept 2026, 5:29 pm	AGM/EGM Postal Ballot	Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot	PDF

₹ Cr	Mar 2024	Mar 2025	Mar 2026
	8	20	52
	-7	-64	20
	25	-3	-88
Net cash flow	25	-47	-16
Free cash flow	-8	-64	-51
CFO / Operating profit %	48.1%	93.2%	66.8%

Sical Logistics Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

2

1

Announcements

2

1

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

Compounded sales growth

Compounded profit growth

Return on equity

Sical Logistics Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Board meetings2

Rights issues1

Announcements

Board meetings2

Rights issues1

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

2

1

2

1