Sical Logistics Limited. (SICALLOG) AI Stock Analysis

• Market Cap: ₹13.53B
• Dividend Yield: N/A
• Average Volume (3M): 824.00
• Price to Earnings (P/E): 3.0
• Beta (1Y): 0.80
• Revenue Growth: 76.34%
• EPS Growth: 94.50%
• Country: IN
• Employees: 33
• Sector: Services
• Sector Strength: N/A
• Industry: Integrated Freight & Logistics
• EPS (TTM): 6.11
• Shares Outstanding: 208,797,060
• 10 Day Avg. Volume: 0
• 30 Day Avg. Volume: 824
• PEG Ratio: 2.37
• Price to Book (P/B): -118.14
• Price to Sales (P/S): 2.54
• P/FCF Ratio: -6.45
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 39 Underperform
• Price Target: ₹61.00 ▼(-29.44% Downside)
• Action: Downgraded Date: 11/15/25
• Date: Action: Downgraded 11/15/25

The overall stock score is primarily driven by significant financial challenges, including declining revenues, negative profitability, and high debt levels. Technical indicators also suggest a bearish trend, further impacting the score. The lack of profitability and absence of dividends contribute to a poor valuation score.

Positive Factors

Essential port & logistics business

Sical operates in port and terminal services, a core part of international and domestic trade flows. These activities are structurally essential to cargo movement, supporting steady long-term demand and fee-based revenue streams that persist through business cycles.

Diversified service mix

The company’s mix—port operations, stevedoring and integrated logistics—spreads operational risk across adjacent service lines. That diversification supports cross-selling, better utilization of assets and potential margin stabilization versus single-line logistics providers over a multi-month horizon.

Contractual/fee-based revenue elements

Revenue tied to long-term operating or concession arrangements provides greater predictability and resilience. Contractual fee structures reduce short-term volume sensitivity, improving the visibility of cash flows and protecting core margins over several months to years.

Negative Factors

High leverage & negative equity

A high debt burden and negative equity create insolvency risk and limit strategic flexibility. Credit constraints raise funding costs, restrict capital expenditure and make the business vulnerable to interest rate moves or demand shocks, impairing recovery prospects over months.

Negative free cash flow & liquidity strain

Sustained negative free cash flow forces reliance on external financing to run operations and service debt. This pattern undermines the ability to invest in efficiency or growth initiatives, increases refinancing risk, and elevates the probability of restructuring within a 2-6 month horizon.

Persistent unprofitability & margin erosion

Declining revenues coupled with negative gross and net margins point to structural cost or pricing problems. Continued unprofitability prevents equity rebuild, reduces reinvestment capacity and makes long-term competitiveness and contract wins harder without operational restructuring.

Sical Logistics Limited. Business Overview & Revenue Model

Company Description

Sical Logistics Limited provides integrated logistics solutions in India. The company handles dry and liquid bulk cargo at various ports, as well as containers at Tuticorin container terminal; and operates container freight stations at Chennai, Vizag, and Tuticorin. It also offers customs house agency, terminal handling, chartering, shipping agency, and stevedoring services; road logistics services for transporting dry and liquid bulk, project cargo, over dimensional cargo, fertilizers, metals, and packaged goods; cold chain, warehousing, and dry logistics services for hospitality, pharma, and FMCG industries; and end to end integrated logistics solutions for bulk and containerized cargo. In addition, the company operates coal berth and coal cum iron ore terminal at Kamarajar Port. Further, it offers surface mining services; and bulk handling solutions at mines, as well as develops and operates mines. The company was incorporated in 1955 and is based in Bengaluru, India.

How the Company Makes Money

Sical Logistics Limited generates revenue through multiple streams primarily focused on logistics and supply chain management services. Key revenue streams include freight forwarding, where the company earns fees for transporting goods; warehousing services, which provide storage solutions and generate income from rental agreements; and customs clearance, where fees are charged for facilitating the import and export of goods. The company’s strategic partnerships with shipping lines, airlines, and freight forwarders further bolster its service offerings, allowing it to secure competitive pricing and enhance service delivery. Additionally, SICALLOG benefits from long-term contracts with clients, which provide a stable revenue base and increase customer retention. Continuous investment in technology also enables the company to optimize its operations, reduce costs, and improve service efficiency, ultimately contributing to its profitability.

Sical Logistics Limited. Financial Statement Overview

Summary

Sical Logistics Limited faces significant financial challenges, with declining revenues, negative profitability margins, and a precarious balance sheet characterized by high debt and negative equity. Although cash flow metrics show some fluctuations, they underscore liquidity issues. The company needs strategic restructuring to improve its financial health and operational efficiency.

Income Statement

The company has experienced declining revenue over the years, with a significant drop from 2020 to 2025. Gross profit margins are negative, indicating a cost structure that exceeds revenues. The net profit margin is also negative due to persistent net losses, which suggests ongoing operational challenges. Margins like EBIT and EBITDA are consistently negative, reflecting poor operational efficiency and profitability.

Balance Sheet

The balance sheet reveals a high debt burden with a negative equity position in recent years. The debt-to-equity ratio is unfavorable, and the equity ratio is negative, indicating insolvency risks. The return on equity is not meaningful due to negative equity, highlighting the company's inability to generate returns for shareholders.

Cash Flow

Cash flow analysis shows volatility with negative free cash flow in recent years, indicating the company is spending more than it earns. Operating cash flow has been inconsistent, and the ratio to net income is unfavorable due to ongoing net losses. This reflects liquidity concerns and challenges in sustaining operations without external financing.

Breakdown	TTM	Mar 2025	Mar 2024	Jun 2023	Mar 2022	Jun 2021
Income Statement
Total Revenue	2.77B	2.22B	2.21B	3.92B	3.49B	5.04B
Gross Profit	343.32M	90.30M	-83.30M	-171.90M	-597.60M	-114.60M
EBITDA	421.89M	502.60M	436.80M	-7.16B	-1.60B	-9.51B
Net Income	-134.50M	-258.40M	-282.90M	-8.34B	-2.60B	-11.60B
Balance Sheet
Total Assets	0.00	8.58B	7.66B	8.41B	16.21B	17.87B
Cash, Cash Equivalents and Short-Term Investments	865.10M	865.10M	935.30M	680.00M	151.80M	646.20M
Total Debt	0.00	6.08B	5.07B	4.81B	13.57B	13.66B
Total Liabilities	-1.30B	7.28B	6.10B	6.79B	23.87B	22.85B
Stockholders Equity	1.30B	-47.70M	287.20M	535.20M	-9.31B	-6.68B
Cash Flow
Free Cash Flow	0.00	-874.20M	-463.10M	-104.50M	456.30M	-175.30M
Operating Cash Flow	0.00	-32.60M	77.90M	8.60M	598.70M	343.90M
Investing Cash Flow	0.00	-696.20M	-70.50M	786.60M	-555.10M	-278.20M
Financing Cash Flow	0.00	260.00M	247.10M	-230.00M	-269.20M	-1.10B

Sical Logistics Limited. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 86.45
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SICALLOG, the sentiment is Negative. The current price of 86.45 is above the 20-day moving average (MA) of 70.90, above the 50-day MA of 74.67, and above the 200-day MA of 82.43, indicating a bearish trend. The MACD of -3.15 indicates Positive momentum. The RSI at 35.36 is Neutral, neither overbought nor oversold. The STOCH value of 15.76 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SICALLOG.

Sical Logistics Limited. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RITCO	74 Outperform	₹6.10B	18.26	―	―	34.34%	2.00%
KSE	72 Outperform	₹6.36B	10.91	―	―	―	―
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
AVG	55 Neutral	₹2.14B	12.39	―	0.66%	6.71%	-53.24%
SNOWMAN	50 Neutral	₹6.48B	-89.54	―	2.44%	9.91%	-66.86%
SICALLOG	39 Underperform	₹13.53B	3.00	―	―	76.34%	94.50%

Sical Logistics Limited. Corporate Events

Sical Logistics Publishes Details and Timelines for Upcoming Rights Issue

Sical Logistics Limited has announced the publication of statutory newspaper advertisements related to its rights issue of equity shares with a face value of Rs 10 each. The company has filed the letter of offer and disclosed key timelines, including the issue opening on February 26, 2026, last date for on-market renunciation on March 5, 2026, and issue closing on March 10, 2026.

The rights issue price has been set at 6.4 times the face value, with detailed procedures provided for applications through ASBA and for trading and renunciation of rights entitlements in dematerialised form. The company has also noted that rights entitlements and resultant equity shares will be listed on BSE and NSE, with temporary ISIN arrangements until final listing approvals are obtained, and has made the issue information available on its website for investors and public shareholders.