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SICALLOG - Sical Logistics

📊 NSE: SICALLOG 🏢 Miscellaneous 📅 Last Updated: 12/14/2025 13:21

📢 Recent Corporate Announcements

Sical Logistics Allots 1.45 Crore Equity Shares via Rights Issue at Rs 64 Per Share

🟡 NEUTRAL ⭐ 7/10

FUNDRAISE 📅 12 Mar 2026, 07:51 PM

Sical Logistics Limited has successfully completed the allotment of 1,45,35,790 equity shares on a rights basis. The shares were issued at a price of Rs 64 per share, including a premium of Rs 54, following the board's approval on March 12, 2026. This issuance has increased the company's total paid-up equity share capital from 6,52,49,080 shares to 7,97,84,870 shares. The allotment was finalized in consultation with the registrar, Cameo Corporate Services Limited, and the National Stock Exchange.

Allotment of 1,45,35,790 fully paid-up equity shares of face value Rs 10 each.
Issue price set at Rs 64 per share, representing a premium of Rs 54 per share.
Total paid-up share capital increased from Rs 65.25 crore to Rs 79.78 crore.
The allotment follows the rights issue process initiated in January 2026 and the letter of offer dated February 16, 2026.

💡 Investors should account for the equity dilution resulting from the 22.3% increase in the total share count. Monitor the company's upcoming financial statements to see how the proceeds are utilized for operational growth or debt reduction.

Sical Logistics Completes Rights Issue Subscription Period; Closed on March 10, 2026

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 10 Mar 2026, 07:54 PM

Sical Logistics Limited has successfully concluded the subscription period for its rights issue on March 10, 2026. The issue, involving equity shares with a face value of Rs. 10, was open for subscription starting February 26, 2026. This capital-raising initiative was previously approved by the Board in meetings held throughout January and February 2026. The company will now move toward the allotment and listing of the new equity shares.

Rights issue subscription period closed on March 10, 2026, at 5:00 p.m. IST.
The issue was open for a total of 13 days, having commenced on February 26, 2026.
Equity shares offered in the rights issue carry a face value of Rs. 10 per share.
The fundraise follows board approvals dated January 23, February 12, and February 13, 2026.

💡 Investors should monitor the basis of allotment and the subsequent listing of the new shares on the exchanges. Evaluate the impact of the capital infusion on the company's leverage and future expansion plans.

Sical Logistics Seeks Shareholder Nod for ₹20 Cr Guarantee & New Independent Director

🟡 NEUTRAL ⭐ 6/10

REGULATORY 📅 09 Mar 2026, 06:30 PM

Sical Logistics has issued a postal ballot notice to seek shareholder approval for the appointment of Mr. Sharad Kumar as an Independent Director. The company is also seeking authorization to provide a corporate guarantee of up to ₹20 crore for credit facilities availed by its step-down subsidiary, SMART, from CSB Bank. Additionally, the ballot includes proposals for creating a mortgage on the subsidiary's land in Tamil Nadu and approving material related party transactions with Pristine Magadh Infrastructure. The e-voting period is set from March 12, 2026, to April 10, 2026.

Proposed appointment of Mr. Sharad Kumar as an Independent Director for the company.
Approval sought for a ₹20 crore corporate guarantee to support credit facilities for subsidiary Sical Multimodal and Rail Transport Limited (SMART).
Creation of a mortgage on SMART's land in Anuppampattu, Tamil Nadu, to secure the ₹20 crore bank facility.
Authorization of material related party transactions with fellow subsidiary Pristine Magadh Infrastructure Private Limited.
Remote e-voting window opens on March 12, 2026, and concludes on April 10, 2026.

💡 Investors should monitor the voting results as these approvals are necessary for the company's subsidiary financing and board governance. The transactions appear to be standard internal financial arrangements to support group operations.

Sical Logistics Q3 Profit at ₹47.78 Cr via Land Sale; Sets 11:5 Rights Issue at ₹64

🔵 WATCH ⭐ 8/10

EARNINGS 📅 24 Feb 2026, 07:48 PM

Sical Logistics reported a standalone net profit of ₹47.78 crore for the quarter ended December 31, 2025, primarily driven by an exceptional gain of ₹55.59 crore from a land sale. Operationally, the company remains in a loss, recording a pre-tax loss of ₹7.88 crore before exceptional items. The Board has finalized a Rights Issue to raise up to ₹93.03 crore at a price of ₹64 per share. Significantly, the promoters have decided to forego their entitlement, resulting in a rights ratio of 11 shares for every 5 held by public shareholders.

Standalone Net Profit reached ₹47.78 crore in Q3 FY26, boosted by a ₹55.59 crore exceptional gain from land sale.
Rights Issue size confirmed at 1,45,35,790 shares to raise approximately ₹93.03 crore.
Rights entitlement ratio set at 11:5 for public shareholders only; promoters will not participate.
Rights Issue price fixed at ₹64 per share with a record date of February 18, 2026.
Core operations showed a loss of ₹7.88 crore for the quarter, highlighting continued operational challenges.

💡 Investors should be cautious as the profit is non-recurring and derived from asset sales rather than core operations. Evaluate the Rights Issue based on the company's plan for the ₹93 crore capital infusion and the impact of increased public float.

Sical Logistics to Raise Rs 93.03 Cr via Rights Issue; Ratio 11:5 for Public Shareholders

🟢 POSITIVE ⭐ 8/10

FUNDRAISE 📅 14 Feb 2026, 12:28 AM

Sical Logistics Limited has finalized the terms for its rights issue, aiming to raise up to Rs 93.03 crore through the issuance of 1.45 crore equity shares. In a notable move, the company's promoter has decided to forego their entitlement, meaning the rights are exclusively offered to public shareholders. The board has fixed the rights entitlement ratio at 11 shares for every 5 shares held by public shareholders as of the record date, February 18, 2026. The issue price is set at Rs 64 per share, and the board also approved the company's Q3 FY26 financial results.

Total issue size of up to 1,45,35,790 fully paid-up equity shares amounting to Rs 93.03 crore
Rights entitlement ratio set at 11:5 (11 new shares for every 5 held) for public shareholders
Issue price fixed at Rs 64 per equity share of face value Rs 10
Promoter will not subscribe to or renounce their rights, effectively increasing public participation
Record date for determining eligible shareholders is February 18, 2026

💡 Existing public shareholders should compare the market price with the Rs 64 offer price to determine the benefit of exercising their rights. To be eligible for the 11:5 entitlement, investors must hold the shares before the record date of February 18, 2026.

Sical Logistics Approves ₹93.03 Cr Rights Issue with 11:5 Ratio for Public Shareholders

🟢 POSITIVE ⭐ 8/10

FUNDRAISE 📅 14 Feb 2026, 12:20 AM

Sical Logistics has finalized the terms for its Rights Issue, aiming to raise up to ₹93.03 crore at an issue price of ₹64 per share. A significant update is that the promoter has decided to forego their entitlement, making the issue exclusively available to public shareholders. Consequently, the rights entitlement ratio has been adjusted to 11 shares for every 5 shares held by public investors. The record date for eligibility is set for February 18, 2026, and the board also approved the Q3 FY26 financial results.

Rights Issue size of up to 1,45,35,790 equity shares totaling approximately ₹93.03 crore
Issue price fixed at ₹64 per share with a rights ratio of 11:5 for public shareholders
Promoter will not subscribe to or renounce their rights entitlement, increasing public participation potential
Record date for determining eligibility is confirmed as February 18, 2026
Board approved unaudited standalone and consolidated financial results for the quarter ended December 31, 2025

💡 Investors should compare the ₹64 rights price with the current market price to assess the discount and decide on participation before the February 18 record date. The promoter's decision to forego rights may lead to a higher proportional stake for participating public shareholders.

Sical Logistics Updates Rights Issue Terms to 11:5 Ratio; Sets Record Date for Feb 18

🟢 POSITIVE ⭐ 8/10

FUNDRAISE 📅 13 Feb 2026, 11:56 PM

Sical Logistics has approved its Q3 FY26 financial results and finalized terms for a Rs. 93.03 crore rights issue. The issue is priced at Rs. 64 per share, with the record date set for February 18, 2026. Notably, the promoter group has decided to forgo their entitlement, which has resulted in a revised rights ratio of 11 shares for every 5 shares held by public shareholders. This structural change effectively increases the potential stake for participating public investors.

Rights issue size finalized at 1,45,35,790 equity shares for an aggregate amount of Rs. 93.03 crore
Rights entitlement ratio set at 11:5 for public shareholders only, as promoters forgo their rights
Issue price confirmed at Rs. 64 per share with the record date fixed as February 18, 2026
Board approved unaudited standalone and consolidated financial results for the quarter ended December 31, 2025

💡 Existing public shareholders should evaluate the Rs. 64 issue price against the current market price before the February 18 record date. The promoter's decision to forgo rights provides a larger allocation opportunity for public investors.

Sical Logistics to Raise Rs 92.8 Crore via Rights Issue at Rs 64; Record Date Feb 18

🟡 NEUTRAL ⭐ 7/10

FUNDRAISE 📅 12 Feb 2026, 07:44 PM

Sical Logistics Limited has approved a rights issue to raise approximately Rs 92.80 crore by issuing 1.45 crore equity shares. The issue is priced at Rs 64 per share, which includes a premium of Rs 54 per share. The company has set a rights entitlement ratio of 2:9, meaning eligible shareholders will receive 2 rights shares for every 9 shares held as of the record date. The record date for determining eligibility is February 18, 2026, with the subscription period running from February 26 to March 10, 2026.

Total issue size of 1,44,99,796 equity shares aggregating to Rs 92.80 crore
Rights issue price fixed at Rs 64 per share (Face Value Rs 10 + Premium Rs 54)
Rights entitlement ratio of 2 equity shares for every 9 equity shares held
Record date for eligibility is February 18, 2026
Issue opens on February 26, 2026, and closes on March 10, 2026

💡 Existing shareholders should compare the rights issue price of Rs 64 with the current market price to determine the benefit of subscribing. Those not intending to subscribe should consider selling their rights entitlements on the exchange to avoid dilution of value.

Sical Logistics Announces Rs. 92.80 Crore Rights Issue at Rs. 64 per Share

🔵 WATCH ⭐ 7/10

FUNDRAISE 📅 12 Feb 2026, 07:38 PM

Sical Logistics Limited has approved a rights issue to raise approximately Rs. 92.80 crore by issuing 1.45 crore equity shares. The board has set the entitlement ratio at 2:9, meaning eligible shareholders will receive 2 new shares for every 9 shares held as of the record date. The issue price is fixed at Rs. 64 per share, which includes a premium of Rs. 54 over the face value. The record date for eligibility is February 18, 2026, with the subscription period running from February 26 to March 10, 2026.

Rights entitlement ratio fixed at 2 equity shares for every 9 shares held.
Issue price set at Rs. 64 per share, involving a total fundraise of Rs. 92.80 crore.
Record date for determining eligible shareholders is Wednesday, February 18, 2026.
Rights issue subscription period opens on February 26 and closes on March 10, 2026.
Full payment of Rs. 64 per share is required upfront at the time of application.

💡 Investors should compare the rights issue price of Rs. 64 against the prevailing market price to assess the discount and decide on participation. Existing shareholders must either subscribe or renounce their rights by the deadline to avoid dilution of their holding value.

Sical Logistics to Raise Up to ₹110 Crore via Rights Issue and ₹25 Crore Credit Facility

🟢 POSITIVE ⭐ 8/10

FUNDRAISE 📅 23 Jan 2026, 05:46 PM

The board of Sical Logistics has approved a significant fundraising plan involving a rights issue of equity shares for an amount not exceeding ₹110 crore. In addition to the equity raise, the company has secured approval to avail additional credit facilities of ₹25 crore from HDFC Bank to support its business operations. These funds are intended to meet the company's working capital and general business requirements. The specific terms of the rights issue, including the price and entitlement ratio, will be determined at a later date.

Approved fundraising of up to ₹110 crore through a rights issue of equity shares with face value of ₹10 each
Authorized additional credit facilities (fund and non-fund based) of ₹25 crore from HDFC Bank Limited
Capital infusion is aimed at meeting the business requirements and strengthening the company's financial position
The board meeting concluded at 4:00 PM on January 23, 2026, following an earlier intimation on January 20

💡 Investors should watch for the announcement of the rights issue price and record date to evaluate the potential dilution and attractiveness of the offer. Existing shareholders should consider participating to maintain their stake in the company as it seeks to stabilize its operations.

Sical Logistics Appoints Mr. Sharad Kumar as Independent Director for 3-Year Term

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 14 Jan 2026, 07:00 PM

Sical Logistics Limited has appointed Mr. Sharad Kumar as an Additional Director in the Non-Executive Independent category, effective January 14, 2026. Mr. Kumar brings over 30 years of extensive experience in the banking and financial services sector, having worked with major institutions like ICICI Bank and HDFC Bank. His appointment is for a term of three consecutive years, pending shareholder approval, which is expected to strengthen the company's corporate governance and financial oversight.

Appointment of Mr. Sharad Kumar as Non-Executive Independent Director effective January 14, 2026
Appointee has over 30 years of experience in the banking and financial services sector
Professional background includes roles at ICICI Bank, HDFC Bank, and Central Bank of India
Proposed term of appointment is for 3 consecutive years, subject to shareholder approval

💡 This is a routine governance update; investors should monitor how the new board member's financial expertise influences the company's strategic direction. No immediate action is required.

Sical Logistics Submits Compliance Certificate Under SEBI Regulation 74(5) for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Jan 2026, 05:16 PM

Sical Logistics Limited has filed its quarterly compliance certificate for the period ending December 31, 2025, as required under SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Cameo Corporate Services Limited, confirms that all share certificates received for dematerialization were processed within the stipulated time limits. It further verifies that the original certificates were mutilated and cancelled, and the names of the depositories were updated in the company's register of members. This is a standard administrative filing ensuring the integrity of the company's shareholding records.

Compliance certificate submitted for the quarter ended December 31, 2025.
Confirmation of adherence to SEBI (Depositories and Participants) Regulations, 2018.
Issued by Registrar and Share Transfer Agent, Cameo Corporate Services Limited.
Verification that security certificates were mutilated and cancelled after dematerialization.
Confirms that securities are listed on the stock exchanges where earlier securities were listed.

💡 No action is required as this is a routine regulatory compliance filing. Investors should continue to monitor the company's operational performance and upcoming financial results.

Sical Logistics Bags Rs 4,038 Crore Order from South Eastern Coalfields Limited

🟢 POSITIVE ⭐ 9/10

EXPANSION 📅 12 Jan 2026, 07:27 PM

Sical Logistics Limited has secured a massive contract worth Rs 4,038.18 crore from South Eastern Coalfields Limited (SECL). The project involves work at the Porda Chimtapani Open Cast project in Raigarh, Chhattisgarh. The contract is scheduled to be executed over a long-term period of 4,214 days, which is approximately 11.5 years. This significant win provides the company with long-term revenue visibility and strengthens its position in the mining logistics sector.

Total contract value stands at Rs 4,038.18 crore inclusive of GST
Order awarded by South Eastern Coalfields Limited (SECL) for the Porda Chimtapani Open Cast project
The execution period for the contract is set at 4,214 days
The contract is for domestic operations and does not involve any related party transactions
This is a major business win for Sical Logistics under the Pristine Group management

💡 Investors should view this as a highly positive development that ensures long-term revenue stability. The focus should now be on the company's ability to maintain margins during the decade-long execution phase.

Sical Logistics Shareholders Approve Director Re-appointment and Material RPT Modification

🟢 POSITIVE ⭐ 7/10

MANAGEMENT 📅 12 Jan 2026, 07:19 PM

Sical Logistics Limited has announced the successful passage of two key resolutions via postal ballot concluded on January 9, 2026. Shareholders approved the re-appointment of Mr. Seshadri Rajappan as Whole-time Director with an overwhelming 99.98% majority of the 59.38 million votes polled. Additionally, an ordinary resolution for material modification in a related party transaction with the holding company, Pristine Malwa Logistics Park, was approved with 97.36% favor. These approvals ensure leadership continuity and formalize significant operational agreements with the parent group.

Special resolution for re-appointment of Mr. Seshadri Rajappan as Whole-time Director passed with 99.98% votes in favor.
Ordinary resolution for material modification of RPT with holding company Pristine Malwa Logistics Park approved with 97.36% favor.
Total of 59,379,990 votes were polled for the director appointment resolution, representing high shareholder participation.
The voting process was conducted via remote e-voting from December 11, 2025, to January 9, 2026, following a cut-off date of December 5, 2025.

💡 Investors should take confidence in the strong shareholder support for the current management and the alignment with the Pristine Group. Monitor future financial statements for the specific impact of the modified related party transactions on operational costs.

Sical Logistics Concludes Postal Ballot for Director Re-appointment and RPT Modifications

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 09 Jan 2026, 06:49 PM

Sical Logistics Limited has completed its postal ballot process as of January 09, 2026. The company sought shareholder approval for the re-appointment of Mr. Seshadri Rajappan as a Whole-time Director via a special resolution. Additionally, an ordinary resolution was presented to approve material modifications to related party transactions with Pristine Malwa Logistics Park Private Limited, the company's immediate holding entity. The final voting results and the Scrutinizer's report are expected to be released shortly following the conclusion of the electronic voting period.

Remote e-voting concluded on January 09, 2026, at 5:00 p.m. IST.
Proposed special resolution for the re-appointment of Mr. Seshadri Rajappan as Whole-time Director.
Proposed ordinary resolution for material modifications to RPTs with holding company Pristine Malwa Logistics Park.
The cut-off date for shareholder voting eligibility was December 05, 2025.
Scrutinizer's report and final results to be hosted on the company website and stock exchanges.

💡 Investors should await the final voting results to confirm shareholder support for the management and RPT changes. It is advisable to review the specifics of the related party transaction modifications once the full report is released to assess any impact on minority shareholders.

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💰 Financial Performance

Revenue Growth by Segment

Standalone revenue from operations decreased by 39.2% from INR 66.17 Cr in FY24 to INR 40.22 Cr in FY25. Consolidated total income for FY25 was reported at INR 240.92 Cr. The decline is attributed to operational challenges and liquidity constraints.

Geographic Revenue Split

100% of revenue is generated within India. The company reports that services are not rendered outside India, and therefore no separate geographical segments are reported.

Profitability Margins

Net Profit Margin worsened from -69.40% in FY24 to -109.50% in FY25. Operating Profit Margin remained thin but showed a marginal increase from 0.22% in FY24 to 0.25% in FY25. Return on Net Worth declined from -48.23% to -87.71% due to heavy losses.

EBITDA Margin

Operating Profit Margin was 0.25% in FY25, a slight improvement of 3 basis points from 0.22% in FY24. Core profitability remains under pressure due to high finance costs and a 39.2% drop in standalone revenue.

Capital Expenditure

Not disclosed in available documents. The company mentions plans to expand warehousing and distribution capacity but does not provide specific INR Cr figures for planned Capex.

Credit Rating & Borrowing

The Debt-Equity ratio deteriorated significantly from 5.67 in FY24 to 14.86 in FY25. Total liabilities to financial creditors classified as current amounted to INR 260.78 Cr as of March 31, 2025. Interest coverage ratio improved slightly from 0.46 to 0.62 despite high finance costs.

⚙️ Operational Drivers

Raw Materials

Diesel, power, and lubricants represent the primary operating cost drivers for the logistics and dredging fleet, though specific percentage of total cost for each is not disclosed.

Import Sources

Not disclosed in available documents. Operations are primarily concentrated in India.

Capacity Expansion

The company is focusing on expanding warehousing and distribution capacity and enhancing efficiency in container freight operations. Current installed capacity in MT or units is not specified.

Raw Material Costs

Operating cost risk is high due to dependence on diesel and power. These costs are managed through escalation clauses in contracts and route optimization. Standalone total expenses were INR 111.31 Cr in FY25, down 20.2% from INR 139.52 Cr in FY24.

Manufacturing Efficiency

Not disclosed in available documents. The company focuses on service-based metrics like operational efficiency in multimodal offerings.

Logistics & Distribution

Distribution and logistics are the core business. Current Ratio declined from 0.67 to 0.36, indicating severe liquidity constraints in managing current obligations.

📈 Strategic Growth

Growth Strategy

Growth is targeted through strengthening presence in integrated mining logistics, expanding warehousing and distribution capacity, and building resilience in dredging services. The strategy involves disciplined bidding, embedding technology (digitalization and automation), and prioritizing ESG-compliant operations to win contracts.

Products & Services

Integrated logistics services, mining logistics, warehousing, distribution, container freight station operations, and dredging services.

Brand Portfolio

Sical, Pristine (Parent Group)

New Products/Services

The company is focusing on technology-enabled solutions tailored to regional demand and ESG-compliant logistics offerings to differentiate in contract awards.

Market Expansion

Expansion is focused on regional demand within India, specifically targeting government-supported multimodal logistics parks and integrated mining sectors.

Strategic Alliances

Sical Sattva Rail Terminals Private Limited (Jointly controlled entity). The company is now a 'Pristine Group Company' following restructuring.

🌍 External Factors

Industry Trends

The industry is shifting toward digitalization, automation, and ESG compliance. Government-supported multimodal logistics parks are emerging as large-scale alternatives to traditional setups.

Competitive Landscape

Faces competition from government-supported multimodal logistics parks and other integrated logistics providers in competitive bidding processes.

Competitive Moat

Moat is built on integrated multimodal offerings and a technology-first approach. Sustainability is linked to the ability to provide flexible, technology-enabled solutions tailored to regional demand.

Macro Economic Sensitivity

Highly sensitive to inflation and interest rates, which impact demand and compress margins. Interest coverage remains low at 0.62.

Consumer Behavior

Increased demand for temperature-sensitive goods handling and technology-enabled tracking in the supply chain.

Geopolitical Risks

Exposed to regulatory and country risks within India, including changes in customs procedures and port operation frameworks.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by regulatory frameworks related to integrated logistics, port operations, and customs procedures. Compliance is monitored through robust internal systems.

Environmental Compliance

The company has adopted a comprehensive Environmental, Sustainability, EHSQ, Human Rights, and Security Policy across all group entities to reduce environmental impact.

Legal Contingencies

Retained earnings as of March 31, 2025, were a negative INR 2,056.23 Cr (Consolidated), reflecting accumulated losses. Specific values for pending court cases were not disclosed in the provided text.