Sikko Industries Ltd.

•

sikkoindia.inBSE: -NSE: SIKKO

Market Cap₹ 233 Cr.

Current Price

High / Low₹ 7 / 3

Stock P/E38.5

Book Value₹ 2

Price to Book2.00

Dividend Yield0.00 %

ROCE10.8 %

ROE7.8 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2021 • Pesticides: 92.6% • Seeds: 3.8% • Fertilizers: 3.6%

AI Sector View

AI GENERATED

Chemicals

Hold

The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.

Confidence

55%

View full sector analysis →

PROS

Company is almost debt free
Latest quarter profit grew 43.4% YoY, showing strong momentum
Company comfortably covers its interest (16.1x coverage)
Institutional investors have been accumulating - FII+DII up 2.7pp

CONS

Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
Promoter holding has decreased over last 2 years: -16.5pp
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -3.27x)
Working capital days have increased from 144 to 365 days

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ChemicalsChemicalsPesticides & Agrochemicals

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	UPL	580.05	24.24	48966.04	1.03	-73.00	58.52	10181.00	10.47	12.00	13.43
2.	PIIND	2390.00	31.12	36260.63	0.63	244.20	-38.95	1702.30	-10.43	16.00	21.69
3.	SUMICHEM	498.70	42.96	24892.40	0.26	214.51	20.45	1063.35	0.62	23.39	21.94
4.	BAYERCROP	3955.50	320.83	17776.84	3.79	321.60	15.39	1835.00	-4.16	30.08	20.03
5.	SHARDACROP	772.70	11.13	6971.34	1.94	88.02	-38.36	1073.77	9.03	31.10	17.32
6.	DHANUKA	1006.75	15.11	4487.92	0.20	75.50	27.94	442.02	20.01	24.44	24.83
7.	RALLIS	209.90	24.86	4081.90	1.43	-14.15	-274.26	507.54	7.70	13.23	-0.56
8.	NACLIND	166.60	315.48	3902.49	0.00	20.84	59.82	383.33	-14.50	6.20	10.80
9.	BHAGCHEM	267.00	125.79	3462.16	0.06	133.29	3249.84	1950.19	1475.55	4.55	15.65
10.	GSPCROP	626.15	29.75	2912.77	0.16	263.94	1111.46	3859.95	1153.27	18.46	11.02
11.	BHARATRAS	1185.00	13.75	1969.60	0.04	372.30	838.73	3381.60	796.03	16.63	15.19
12.	SIKKO	5.33	38.48	232.81	0.00	31.26	1334.60	176.90	877.35	10.79	25.79

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	15	19	14	14	16	15	12	19	18	19	17	11	177
	14	16	11	16	13	12	10	20	15	15	14	14	136
Operating Profit	1	2	2	-1	2	3	2	-1	3	4	3	-3	41
OPM %	6.24%	12.73%	16.13%	-9.60%	15.68%	19.84%	17.52%	-6.53%	17.51%	20.21%	16.39%	-31.39%	23.10%
	0	0	0	3	0	0	0	1	0	0	1	1	1
Interest	0	0	0	0	0	0	0	0	0	0	0	0	2
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	2
Profit before Tax	1	2	2	1	2	3	2	-1	3	4	3	-3	42
Tax %	25.76%	25.00%	28.42%	53.90%	24.57%	25.27%	28.96%	4.35%	27.81%	22.76%	27.02%	38.65%	25.14%
Net Profit	0	2	1	1	2	2	1	-1	2	3	2	-2	31
	0.29	0.96	0.78	0.39	1.04	1.25	0.03	-0.02	1.00	1.31	0.05	-0.05	0.07

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	20	17	26	27	32	40	51	49	61	62	224
	20	15	23	23	28	37	47	45	57	55	180
Operating Profit	0	2	3	3	4	3	4	5	4	6	44
OPM %	1.20%	11.47%	10.91%	12.79%	12.97%	6.62%	6.98%	9.34%	6.76%	10.32%	19.68%
	1	0	1	1	1	2	0	0	3	1	2
Interest	1	0	0	1	1	0	1	0	1	0	3
Depreciation	1	1	1	1	1	1	1	1	1	1	3
Profit before Tax	-0	1	3	3	3	4	3	4	6	6	45
Tax %	-536.23%	54.55%	52.96%	20.84%	28.58%	28.99%	28.09%	28.63%	32.91%	29.26%	24.08%
Net Profit	-0	0	1	2	2	3	2	3	4	4	34
EPS	0.00	1.00	2.13	0.00	0.00	4.49	0.00	1.72	2.42	1.96	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	8.71%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 19%
5 Years:: 14%
3 Years:: 7%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 12%
3 Years:: 32%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 38%
3 Years:: 21%
1 Year:: 55%

RETURN ON EQUITY

10 Years:: 10%
5 Years:: 12%
3 Years:: 12%
Last Year:: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	2	4	6	6	6	11	11	17	17	22
	4	2	7	9	11	8	10	7	11	60
	6	7	4	9	6	7	2	9	5	4
Trade Payables	9	6	7	5	9	9	6	6	7	9
	1	1	3	5	7	8	9	8	12	14
Total Liabilities	21	21	27	34	39	43	37	46	52	108
	4	3	4	4	3	3	3	5	4	13
	0	0	0	0	0	0	0	0	1	8
	6	6	9	8	10	11	7	8	11	13
	0	0	0	0	0	0	0	0	23	32
Cash & Bank	0	3	0	3	0	0	0	0	0	0
	11	9	14	18	25	29	27	32	12	42
Total Assets	21	21	27	34	39	43	37	46	52	108

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	0	1	-2	0	2	1	7	-3	2	-35
Cash from Investing	-0	-0	-1	-1	-0	-0	-1	-2	1	-16
Cash from Financing	0	2	2	4	-3	-0	-6	6	-3	51
	-0	3	-2	3	-3	-0	0	0	-0	0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	-1.91	1.00	2.11	3.59	4.35	2.32	1.68	1.72	2.42	1.96
Book Value (₹)	28.44	15.78	21.69	25.55	29.89	17.23	18.90	14.17	16.59	37.26
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.15	0.00	0.00
Cash EPS (₹)	0.02	0.05	0.06	0.08	0.09	0.10	0.07	0.10	0.14	0.11
PROFITABILITY
Operating Margin %	6.95%	11.51%	13.31%	14.66%	14.64%	11.45%	7.40%	10.28%	6.76%	10.32%
Net Margin %	-1.84%	2.28%	4.59%	7.47%	7.61%	6.55%	3.68%	5.85%	6.63%	6.92%
ROE %	-6.90%	6.67%	12.78%	15.18%	15.69%	14.42%	9.28%	12.86%	15.73%	7.82%
ROCE %	5.14%	10.68%	18.19%	15.51%	16.98%	15.96%	12.90%	16.28%	20.69%	10.79%
	-2.10%	1.91%	4.93%	6.61%	6.72%	6.34%	4.66%	6.92%	8.31%	5.34%
EFFICIENCY
Debtor Days	92	140	105	147	180	187	147	162	141	163
Inventory Days	95	122	103	115	101	94	64	58	59	72
Payable Days	134	239	151	161	150	115	72	62	51	71
	53	22	57	101	131	166	140	158	149	164
FINANCIAL HEALTH
Debt to Equity (x)	0.97x	1.11x	0.36x	0.64x	0.40x	0.35x	0.08x	0.36x	0.21x	0.05x
Interest Coverage (x)	0.90x	3.05x	13.12x	5.47x	6.98x	13.73x	5.81x	10.16x	8.68x	16.13x
	1.63x	1.21x	1.63x	1.59x	1.62x	1.68x	2.17x	1.96x	2.10x	3.44x
GROWTH
Revenue Growth %	79.65%	-13.75%	47.74%	4.78%	18.94%	23.98%	28.67%	-3.07%	23.91%	0.75%
Operating Profit Growth %	-8.14%	39.71%	68.91%	15.32%	18.74%	-2.99%	-16.82%	34.61%	48.70%	-5.81%
Net Profit Growth %	-1261.50%	204.67%	194.39%	70.30%	21.30%	6.69%	-27.76%	54.10%	40.51%	5.09%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	40.51%	-19.16%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.38x	1.91x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	4.03x	2.00x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	15.79x	23.43x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	71.46	71.45	71.45	54.96	54.96	54.96	54.96	54.96	54.96
	0.00	0.79	0.74	4.76	5.04	5.01	8.01	8.01	7.72
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	28.54	27.76	27.81	40.27	39.99	40.03	37.02	37.02	37.32

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-04

Copy of Newspaper Publication

2026-09-04 - Sikko Industries Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-02

Shareholders meeting

2026-09-02 - Sikko Industries Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 26, 2026

2026-08-12

Change in Director(s)

2026-08-12 - Sikko Industries Limited has informed the Exchange regarding Change in Director(s) of the company.

2026-08-12

Change in Management

2026-08-12 - Sikko Industries Limited has informed the Exchange about change in Management

2026-08-12

Appointment

2026-08-12 - Sikko Industries Limited has informed the Exchange regarding Appointment of Internal Auditor of the Company as Other of the company w.e.f. August 12, 2026.

2026-08-12

Outcome of Board Meeting

2026-08-12 - Sikko Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-28

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-28 - Sikko Industries Limited has informed the Exchange about Certificate under regulation 76 of SEBI (Depositories and Participants) Regulations, 2018

2026-07-11

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-11 - Sikko Industries Limited has informed the Exchange about Certificate under regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018

2026-06-30

Disclosure under SEBI Takeover Regulations

2026-06-30 - Jayantibhai Mohanbhai Kumbhani has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

News

Recent coverage and analyst commentary for SIKKO

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Sikko Industries Ltd.

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Free 5nance Account

Name

UPL

580.05

24.24

48966.04

1.03

-73.00

58.52

10181.00

10.47

12.00

13.43

PIIND

2390.00

31.12

36260.63

0.63

244.20

-38.95

1702.30

-10.43

16.00

21.69

SUMICHEM

498.70

42.96

24892.40

0.26

214.51

20.45

1063.35

0.62

23.39

21.94

BAYERCROP

3955.50

320.83

17776.84

3.79

321.60

15.39

1835.00

-4.16

30.08

20.03

SHARDACROP

772.70

11.13

6971.34

1.94

88.02

-38.36

1073.77

9.03

31.10

17.32

DHANUKA

1006.75

15.11

4487.92

0.20

75.50

27.94

442.02

20.01

24.44

24.83

RALLIS

209.90

24.86

4081.90

1.43

-14.15

-274.26

507.54

7.70

13.23

-0.56

NACLIND

166.60

315.48

3902.49

0.00

20.84

59.82

383.33

-14.50

6.20

10.80

BHAGCHEM

267.00

125.79

3462.16

0.06

133.29

3249.84

1950.19

1475.55

4.55

15.65

GSPCROP

626.15

29.75

2912.77

0.16

263.94

1111.46

3859.95

1153.27

18.46

11.02

BHARATRAS

1185.00

13.75

1969.60

0.04

372.30

838.73

3381.60

796.03

16.63

15.19

SIKKO

5.33

38.48

232.81

0.00

31.26

1334.60

176.90

877.35

10.79

25.79

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

177

136

Operating Profit

-1

-3

OPM %

6.24%

12.73%

16.13%

-9.60%

15.68%

19.84%

17.52%

-6.53%

17.51%

20.21%

16.39%

-31.39%

23.10%

Interest

Depreciation

Profit before Tax

-1

-3

Tax %

25.76%

25.00%

28.42%

53.90%

24.57%

25.27%

28.96%

4.35%

27.81%

22.76%

27.02%

38.65%

25.14%

Net Profit

-1

-2

0.29

0.96

0.78

0.39

1.04

1.25

0.03

-0.02

1.00

1.31

0.05

-0.05

0.07

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

224

180

Operating Profit

OPM %

1.20%

11.47%

10.91%

12.79%

12.97%

6.62%

6.98%

9.34%

6.76%

10.32%

19.68%

Interest

Depreciation

Profit before Tax

-0

Tax %

-536.23%

54.55%

52.96%

20.84%

28.58%

28.99%

28.09%

28.63%

32.91%

29.26%

24.08%

Net Profit

-0

EPS

0.00

1.00

2.13

0.00

4.49

0.00

1.72

2.42

1.96

—

Dividend Payout %

0.00%

8.71%

0.00%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

Trade Payables

Total Liabilities

108

Cash & Bank

Total Assets

108

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-2

-3

-35

Cash from Investing

-0

-1

-0

-1

-2

-16

Cash from Financing

-3

-0

-6

-3

-0

-2

-3

-0

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

-1.91

1.00

2.11

3.59

4.35

2.32

1.68

1.72

2.42

1.96

Book Value (₹)

28.44

15.78

21.69

25.55

29.89

17.23

18.90

14.17

16.59

37.26

Dividend per Share (₹)

0.00

0.15

0.00

Cash EPS (₹)

0.02

0.05

0.06

0.08

0.09

0.10

0.07

0.10

0.14

0.11

PROFITABILITY

Operating Margin %

6.95%

11.51%

13.31%

14.66%

14.64%

11.45%

7.40%

10.28%

6.76%

10.32%

Net Margin %

-1.84%

2.28%

4.59%

7.47%

7.61%

6.55%

3.68%

5.85%

6.63%

6.92%

ROE %

-6.90%

6.67%

12.78%

15.18%

15.69%

14.42%

9.28%

12.86%

15.73%

7.82%

ROCE %

5.14%

10.68%

18.19%

15.51%

16.98%

15.96%

12.90%

16.28%

20.69%

10.79%

-2.10%

1.91%

4.93%

6.61%

6.72%

6.34%

4.66%

6.92%

8.31%

5.34%

EFFICIENCY

Debtor Days

140

105

147

180

187

147

162

141

163

Inventory Days

122

103

115

101

Payable Days

134

239

151

161

150

115

101

131

166

140

158

149

164

FINANCIAL HEALTH

Debt to Equity (x)

0.97x

1.11x

0.36x

0.64x

0.40x

0.35x

0.08x

0.36x

0.21x

0.05x

Interest Coverage (x)

0.90x

3.05x

13.12x

5.47x

6.98x

13.73x

5.81x

10.16x

8.68x

16.13x

1.63x

1.21x

1.63x

1.59x

1.62x

1.68x

2.17x

1.96x

2.10x

3.44x

GROWTH

Revenue Growth %

79.65%

-13.75%

47.74%

4.78%

18.94%

23.98%

28.67%

-3.07%

23.91%

0.75%

Operating Profit Growth %

-8.14%

39.71%

68.91%

15.32%

18.74%

-2.99%

-16.82%

34.61%

48.70%

-5.81%

Net Profit Growth %

-1261.50%

204.67%

194.39%

70.30%

21.30%

6.69%

-27.76%

54.10%

40.51%

5.09%

0.00%

40.51%

-19.16%

VALUATION

P/E (x)

0.00x

1.38x

1.91x

P/B (x)

0.00x

4.03x

2.00x

Dividend Yield %

0.00%

0.00x

15.79x

23.43x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

71.46

71.45

54.96

0.00

0.79

0.74

4.76

5.04

5.01

8.01

7.72

DIIs

0.00

Government

0.00

28.54

27.76

27.81

40.27

39.99

40.03

37.02

37.32

Sikko Industries Ltd.

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Quarterly Results

Profit & Loss

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Sikko Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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