Sigachi Industries Ltd (NSE: SIGACHI) Q1 2026 Earnings Call dated Jul. 25, 2025
Corporate Participants:
Riddhi Shah — Investor Relations
Amit Raj Sinha — Managing Director & Chief Executive Officer
Subbarami Reddy Oruganti — Chief Financial Officer
Analysts:
Deepesh J. Sancheti — Analyst
Vishvender Singh — Analyst
Dinesh Kulkarni — Analyst
Himanshu Bisani — Analyst
Dhruv Mimani — Analyst
Koustubh Shaha — Analyst
Avnish Burman — Analyst
Ankur Savaria — Analyst
Madhur Rathi — Analyst
Deepak Poddar — Analyst
Devendra Chawla — Analyst
Anupam Agarwal — Analyst
Unidentified Participant
Presentation:
Operator
Hello, ladies and gentlemen, you’re connected to Sigachi Industries Limited Q1 FY ’26 Earnings Conference Call. The conference call-in shortly, please stay connected. Ladies and gentlemen, good day. You have been connected to Sigachi Industries Limited Q1 FY ’26 Earning Conference Call. The conference call will be shortly connected hello, ladies and gentlemen, good day, and welcome to Sigachi Industries Limited Q1 FY ’26 Earnings Conference Call, hosted by Advisors. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assessions during the conference call, please an operator by pressing Star zero on your touchstone phone. Please note that this conference is being recorded.
I now hand the conference over to Ms. Thank you, and over to you, ma’am.
Riddhi Shah — Investor Relations
Thank you, Avirath. Good afternoon, everyone, and welcome to Sagachi Industries Limited Earnings Conference call to discuss the Q1 FY ’26 results. We have on the call Mr Amit Raj Sinha, Managing Director and Chief Executive Officer; Mr Osubramani, Chief Financial Officer; and Mr Vivek Kumar, Company Secretary and Compliance Officer. We must remind you that the discussion on today’s call may include certain forward-looking statements and must be therefore, viewed in conjunction with the risks that the company faces.
May I now request Mr Amit Sinha to take us through the company’s business outlook and performance subsequently to which we will open the floor for Q&A. Thank you, and over to you, sir.
Amit Raj Sinha — Managing Director & Chief Executive Officer
Thank you, Ridhi. Good evening. Good evening, everyone, and welcome to-Q1 FY ’26 earnings conference call of Sigaji. The financial results and investor presentations have been made available on the exchanges and I hope everyone has had the opportunity to review them. Thank you.
We begin today call — we begin today’s call with a heavy heart. On 30th June 2025, a fire incident occurred at Pasha Unit in Hyderabad reportedly triggered by dust explosion in the spread machine. This incident resulted in the tragic loss of team members and injuries within our workforce. On behalf of the entire Sagaji family I extend our heartfelt condolences to the families affected. Our thoughts remain with them.
Our immediate response post incident was focused on medical care, financial assistance and supporting those impacted. As part of this comprehensive support effort, has commenced making payments towards financial compensation and medical assistance. This includes INR10 lakhs each to the 15 of the 46 of the deceased and 15 lakhs to the families of the eight unaccounted team members amounting to a total of 5.8 crores. 1 lakh each has been extended to 25 injured employees. In addition, Sigachi has taken full responsibility for all hospitalization, critical care and medical costs. At present, only three individuals remain under medical supervision and we continue to extend our full support to them and their families.
Initial investigations are underway and we are working closely with authorities to understand the full nature of the incident. Has also constituted an internal task force to oversee relief, compliance and operational follow-ups. We are also actively cooperating with the external safety committee whose report is abated to strengthen our safety protocol across all facilities. Sigachi remains focused on ensuring that all commitments are fulfilled in a transparent, time-bound and accountable manner with regular update to all the stakeholders.
Pasham Laram unit with a capacity of 6,400 metric tons per annum, which contributed nearly 29% of our total installed capacity of approximately 24,000 metric ton per annum remains under temporary shutdown. Based on the current assessment, we expect operations in this facility to remain suspended for approximately 180 days. In the interim production has been relocated to our Dahej and Jagaria unit which continue to run smoothly. Given that the incident occurred on the last day of the quarter Q1, the quarter’s performance remained largely unaffected. We currently estimate a revenue impact of INR60 crores over the next six months.
Even as we navigate this difficult period, our long-term priorities and growth initiatives remain firmly on-track. Our R&D center in Hyderabad inaugurated recently scheduled to commence operations from 28th of July. The facility brings API development and analytical capabilities under one roof, strengthening our entry into regulated markets. Commercialization steps for our CCF facility at Dahej are also progressing steadily.
The Trimax unit at Raichur Karnataka is scaling up steadily with a focus on regulatory compliance. We have filed four CEPs including Metformin which has already been approved, positioning us for entry into the regulated European markets. A robust pipeline of future filings is also in-place, reinforcing our strategy to expand our high-value segments.
Our O&M services vertical continues to evolve into a stable and scalable revenue stream. We have also secured the terms of reference for our upcoming bulk drug and specialty chemical unit at Orvacal Pradesh. This facility represents a key step towards vertical integration and reinforces Sigachi’s commitment to becoming a globally competitive integrated Pharmaceutical manufacturer.
Additionally, in a forward-looking collaboration, Sigachi has signed an MOU with Group SRO to revolutionize drug delivery system using Respalon’s proprietary nanofiber technology. Our strategic focus remains unchanged, deepening core capabilities, expanding into high-growth areas, strengthening operational resilience and driving long-term stakeholder value.
With that, now I invite CFO, Mr Reddy to take you through the financial performance. Over to you, Mr Reddy.
Subbarami Reddy Oruganti — Chief Financial Officer
Thank you, sir. Good evening to you all. During Q1 FY 2026, Sigachi reported total operating income of INR128 crores, reflecting a year-on-year increase from INR95 crores in Q1 FY 2025. EBITDA for the quarter stood at INR24 crores with a margin of 18.79%, up from INR21 crores in the same-period last year. Net loss came in at INR101 crores, translating to a negative PAT margin of 79% compared to INR13 crores and 13.38% in Q1 FY 2025. The MCC segment contributed INR103 crores, while the O&M and API segment recorded revenues of INR13 crores and INR9 crores respectively, continuing the growth trajectory witnessed in the previous fiscal.
That concludes my update. Now we can open the floor for the question-and-answers. Thank you.
Questions and Answers:
Operator
Thank you very much. We will now begin the question-and-answer session. If anyone who wishes to ask a question, refresh start and one on the on telephone. If you wish to remove yourself from the question queue, you may press. Participants are request answers while asking a question. Ladies and gentlemen, we’ll wait for a moment while the question queues follows the first question is from the line of Dipesh from Manya Finance. Please go-ahead.
Deepesh J. Sancheti
Yeah firstly, Hartfeld for the incident which happened on 33. I just wanted to understand we have accounted for INR121 crores for the entire incident. You mentioned that the — I mean, if you can just break-up on what have we included into all this.
Subbarami Reddy Oruganti
Yeah. In the fixed assets, the total is plant admissionary and purchase that is around INR51.48 crores. A stock loss of INR7.66 crores, estimated compensation is around 59.35 each disal is 2.52.
Deepesh J. Sancheti
And how much of the…
Subbarami Reddy Oruganti
This is as per the accounting standard, of course, this loss is backed-up by the insurance client, but we have considered as a prudence and as for the accounting standards, we have considered the loss this quarter and we have applied for the — we have climbed the insurance clients initially. As and when we receive, then that will be it rated as income.
As for Indian equity standard, the PP property bank and equipment, you have to recognize the loss — entire loss that has happened on 30th of June 2020 is this last day of the quarter and that insurance climb is there, of course, and it comes with them we can recognize as income. And also we have business interruptions also is there, which covers the operating profit. That is to the extent of INR25 crores, it is available for a period of 12 months and there is seven days they will not give and 12 months minus seven days almost nearly one year we’ll get it, but before that we will restore the — only the combination also, we are just — we have mentioned on higher side, but if we are working out the authorities have to have impact much on the company.
Deepesh J. Sancheti
So the compensation which we have paid to the individuals also, that is also recovered by the insurance.
Amit Raj Sinha
Yeah, because to some extent that is covered, but even the combination amount, whatever it is declared by the government that anyway we are in discussion with them and we are trying to trying to reduce the burden at any way but initially we have considered the entire amount as a prudent but on higher side only we are considered.
Deepesh J. Sancheti
Perfectly understood. Okay. Could you elaborate on the different categories within the MCC segment and how realizations vary across these categories?
Subbarami Reddy Oruganti
Yeah. In LCC, coming to our — this hydromide unit, it will be around the volumes that will be there 27%, 28%, around less than 30%. But as a revenue side, it contributes 20% of the total revenue. So now this okay, as for the first — this quarter, first-quarter, it is more or less the same. But in the last day, some quality finished goods were there in the out, but we couldn’t dispatch. As a result, the revenue has around it would have increased by another INR4 crores and we dispatch — we have planned for the delivery this time. But now that stock is there, that will be dispatched in this quarter, was more or less same line, around O&M less than 10% is around this quarter. Next quarter fee. But the would be recovered from the initial policy, business interruption policy.
Deepesh J. Sancheti
Right. And what is the expected asset turnover for the API business?
Subbarami Reddy Oruganti
API business, this year we around we are expecting around INR70 crores this year gradually by next year, it will improve further. This time maybe around 1% to one-time, one-time will be there. Actually it will increase to 1%.
Deepesh J. Sancheti
Okay. If I talk about — I mean, obviously, the six months this because of this incident things will get affected. But how do you see Sigachi’s overall revenue mix evolving over the next two to three years, particularly between the core MCC segment and emerging areas like O&M and API.
Subbarami Reddy Oruganti
So anyway, this MCC, anyway we come back and then we have — we intended to increase the capacities also MCC. We hope we’ll maintain the same we hope will maintain the same like
Deepesh J. Sancheti
If you can just mention what was the revenue mix this time? I mean what? What do you plan to maintain? How much we plan to maintain it?
Subbarami Reddy Oruganti
Yeah. At present around 80%, 85%, 85% is their NCC. But going-forward, the APE may increase in next after two years down the line 88% will increase. NCC maybe we maintain around 75% or so. Even right now it is too early to after three or two years — after two years, we’ll come, we’ll get more clarity on this. APA business also will increase because we have some new molecules are there, new products are there business, higher revenues and then value also on higher side would be there for APA products compared to MCC. But as of now, this is very steady and around.
Deepesh J. Sancheti
Okay. Now this working capital days have increased to 193, what are the key factors behind this rise? And where do you expect this trend to go-forward?
Subbarami Reddy Oruganti
Yeah, anyway, this in the first-quarter it has come down and then going-forward, it will reduce. We are — we have aimed to bring it in less than 90 days.
Deepesh J. Sancheti
Less than 90 days?
Subbarami Reddy Oruganti
Yeah, less than 90 days.
Deepesh J. Sancheti
So over a period of what time,
Subbarami Reddy Oruganti
Over a period of maybe another next nine months. By end of FY ’26, we’ll bring it on.
Deepesh J. Sancheti
Okay. And do you think that the
Operator
Mr, may we request that you return to the question queue for
Deepesh J. Sancheti
Sure, sure. Thank you. Thank you guys. Thank you.
Operator
The next question is from the line of Singh from Prudent Equity. Please go-ahead.
Vishvender Singh
Hi, sir. Am I audible? Sir, I wanted to ask that like EBITDA margins have shrunk by somewhere of 300 basis-points. So could you share your commentary on the same and like what is the appropriate margin you see down this fiscal and next year-after this disruption?
Amit Raj Sinha
Yes. Yeah, this see, whatever operational loss is there from the Hyderabad unit, that will be called by the insurance business interruption policy. But before that we’ll regain, we’ll build the capacities and then we get the business, we get the revenues from that. And right now, operation side, okay, of course, there is a — this is — from this year itself, the total 6,400 metric tons capacity is there. But we have insurance policies where operational profit-wise, like piece will come down, but within six months, we are expecting in another six months we can.
Vishvender Singh
Okay. Also, I wanted to ask like you are extrapolating the loss of capacity to bring back-in six months. So what time of like after six months — how many months would it take to go back to the — where we started earlier this fiscal?
Amit Raj Sinha
Yeah, but initially now as per the SMS around six months is there, but in a month. See, once we have the facility handed over back from the authorities, we will then be able to make a detailed assessment on what is the timeline which will take. At this moment, we believe six months should be good enough for us to get us restarted. But once the facility is handed back to Sigachi, I think then we’ll be in a better position to make an estimate.
Vishvender Singh
Okay, no, sir. Lastly, I wanted to ask, do you see any disturbance in the revenue projections that we made earlier in the Q4 call after this disruption and coming back of the plant after six months or like would it be hurt due to the coming back capacity.
Amit Raj Sinha
Only temporarily that changes would be there. Impact would be there, but later on, that can be recovered. But revenue, obviously, this revenue, whatever it comes from unit, that would be — would not be there in another two quarters. But later on, we can get it back-in great deal.
Subbarami Reddy Oruganti
However, the loss of profit is insured.
Amit Raj Sinha
Yes, the operation size profit is insured.
Vishvender Singh
Okay. Thank you, sir.
Subbarami Reddy Oruganti
Thank you.
Operator
Thank you. Ladies and gentlemen, in order to ensure that the management is able to address questions from all participants in the conference, please limit your questions to three per participant. The next question is from the line of Dinesh from. Please go-ahead.
Dinesh Kulkarni
Hello, sir, am I audible?
Amit Raj Sinha
Yes.
Dinesh Kulkarni
Sir, first of all, heartfeld to the victims of unfortunate incident. Sir, my question is on — in terms of — you mentioned we have filed for the insurance, right? So what is the amount for that? Is it the whole INR120 crores you have filed for?
Amit Raj Sinha
Yeah, almost we have the insured is around INR90 crores is there, also more than INR90 crores
Dinesh Kulkarni
Okay, fair enough. And you mentioned that it’s because of some dust explosion in the spray drying machine around that. That’s your initial assessment or is that the conclusion?
Subbarami Reddy Oruganti
No, no, no, that is the initial assessment. Internally, we have done an initial assessment to see what is it that has gone wrong. And parallelly we have a, you know investigation committee which has been appointed by the government of Telangana, which has scientists from the IICT and fire and explosion experts, they are making an assessment and they should be out with the investigation report by the end of July. And then we will have corrective actions in-place.
Dinesh Kulkarni
Okay, sounds great. So my question is, sir, we have multiple other plants, right, across geographies. Have we done an analysis of this like — I mean, it’s a worst-case scenario, I understand, but something like this is not happening in those plants as well?
Subbarami Reddy Oruganti
Yes.
Dinesh Kulkarni
So what they have done?
Subbarami Reddy Oruganti
Yes, yes. We have carried out, you know, return safety audits, re-safety audits just to make sure that everything is on-track. Whatever checks and balances which are required to be done on the equipments, all those have been carried out at the Dahej and plant.
Dinesh Kulkarni
Okay, sounds sad. So with all assumptions and how sure you are that with your initial estimates, I’m saying like the insurance claim will it’s a large amount, right? It’s almost INR100 crores you’re talking about. So there will not be any issues with the — what are the clauses? Are there any clauses where if say worst-case scenario, there is a mistake found at the plant management level — handling level that the insurance will be rejected.
Amit Raj Sinha
But we hope we’ll get you.
Dinesh Kulkarni
Okay, sounds good. Thank you and I’ll get back into the queue.
Operator
Thank you. The next question is from the line of Himanshu from Capital. Please go-ahead.
Himanshu Bisani
Yeah. Hi. First of all, my heartbulk consultants is to the families of the victims and everyone impacted by the. Sir, in the light of the event, could you share if there has been any formal inquiries or ongoing conversations initiated by the state or central government regarding the incident?
Amit Raj Sinha
So from the state government we have a expert committee which has been constituted to study deeper into what actually has gone wrong. In this committee we have people from the state government, from the officials, we have top scientists from the IACT and all of these people are putting in time and efforts to see as to what actually went wrong and we expect that by end July, they should be able to bring out a report and hand it over to the state government.
Himanshu Bisani
Okay. And the objective of the report is to obviously find out what went wrong, but is there any kind of contingent liabilities that we might face or something?
Amit Raj Sinha
No, I don’t think so. CFO, you have any thoughts on this?
Subbarami Reddy Oruganti
Oh, no. As of now, nothing. There is no contingent liability or there is no obligation.
Himanshu Bisani
Okay. And sir, what has been our conversations with the clients because of the — 30% of our volumes would be is somewhat of affected due to — for next six months. So what are the conversations with our clients?
Amit Raj Sinha
So we have been very proactive in reaching out to them. We have indicated to them on the business continuity protocols. We have brought out that certain quantities which were being produced here in Hyderabad unit, they have proactively been moved to Jagaria and the Dahej facilities. However, we will still have certain shortfalls. So our sales team is in discussions with the clients so that even if there is a temporary drop-in supplies, it only remains temporary and we come back with all the quantities as soon as possible.
Himanshu Bisani
Understood. And sir, lastly, on the plans of increasing capacity of CCS of bringing capacity of CCS next year, are we on-track for that or do we have something thought about it?
Amit Raj Sinha
No, no, no, very much track on-track on that. There are no delays whatsoever and the works are going on at full-speed.
Himanshu Bisani
Okay, understood. Thank you so much, sir and all the best.
Operator
Thank you. The next question is from the line of Dhrumani from Nivesa Investments. Please go-ahead. There’s a disturbance in your background.
Dhruv Mimani
Yeah, no, I’m audible.
Operator
Yes, please go-ahead.
Dhruv Mimani
Yeah. So I wanted to know that the revenue from the API segment has declined in this quarter. So what was the reason and what would be the contribution the company expect in next two to three years.
Subbarami Reddy Oruganti
So this year in the first-quarter, we have achieved around 9 cros. But by the FY ’26, we are expecting around INR70 crores. In July, there is a good number and every month here onwards. Okay. We are expecting around INR70 crores by FY ’26.
Dhruv Mimani
Okay. And what would be our EBITDA margin in this segment?
Subbarami Reddy Oruganti
Our EBITDA margin now, we are expecting around 18% to 20% will be there.
Dhruv Mimani
Thank you.
Operator
Thank you. The next question is from the line of Saha from 4 PMS. Please go-ahead.
Koustubh Shaha
Hi. First of all, condencies from our side to the of the from incidents. I had only one question. So those incidents have you got any feedback from our clients and from their assessment as to for the shortfall of what they are saying in terms of continuity. That was my first question on that.
Amit Raj Sinha
So Mr Sahav, we have had tremendous support from our customers. We have had a reasonable number of our customers sending us written condolences message and expressing all possible support to Sigachi. There have been customers who have paid us well in advance even before the due date payouts. So the customer support has been tremendous and that has given us trend to reach-out to them to express that at this moment, there is a slight disruption and there will be reduction in quantities and that will however be temporary. We are working to build what is it that can be done so that we can recommence the supply to them at the same volumes as was being done till Q1 of FY ’26.
Koustubh Shaha
Okay. That’s good to know. And one more thing. So you mentioned that the facility is on-track by October ’26, what we had given earlier deadline, we should be on-track now to go-live on that. But do you have any — or is it — can there be any possibility of — because of this incidence some government agency or some month or no kind of delaying some approvals or something of that sort any sense that you have currently?
Amit Raj Sinha
No, no, not at all, Mr Sah. You know, whatever are the learnings from this incident, because it is a project phase, we will be — it will be much more easier for us to implement those learnings, implement those safety protocols or whatever else needs to be done in a project phase. So I don’t see that as a challenge and we don’t see any pushback from the authorities, primarily because we have two MCC running plants and they still continue to run.
Koustubh Shaha
Sure. Okay. Thank you.
Operator
Thank you. The next question is from the line of Amish Barman from. Please go-ahead.
Avnish Burman
Yeah. Hi, good evening. First of all, for the incidence. I just have a couple of questions, I may. Just I mean, very similar to the question that was asked previously on the customer side. Now if the operations, for example, don’t resume in 180 days that you are expecting and in the event that you end-up losing customer, how does it work? Like when we get back to normalcy, is it easy to get those customers back on what basis will you attract the customers value because from what I understand, this is a pretty sticky business. It’s not very easy to shift suppliers. If the customers are forced to shift out of you, then how do you get them back? That’s the first question.
Amit Raj Sinha
Okay. Abneesh, I would say at this moment, we really haven’t thought that deep and that far. But one thing I can tell you is that we have had tremendous support from our customers and we believe even if there is a disruption of supply for certain months and once we get back-in terms of supply quantities, our customers are going to get back to us. Okay. Okay. We believe it is just a temporary phase. The moment we have capacities, they will align with us.
Avnish Burman
Okay, fair enough. Second question was on the gross margins. If you look at on a Y-o-Y basis, your gross margins have compressed from 58% to 51%. Can you just talk a little bit about that? What have been the prime reasons?
Subbarami Reddy Oruganti
Yes. This is the — in the June quarter, in the June month last we had planned for dispatches at which we couldn’t dispatch because of this and wherein the cost closing stock, the closing stock of finished goods were valued at-cost as per standard, cost of value whichever is less you have to account. As for the cost we have accounted, had it been sold, then the — and overall percentage also consumption of consumption for raw-material also comes down. This is the reason. Anyway, this will be postponed to the second-quarter. That will cost whatever is there, but will be sold-in as of that the higher raw-material consumption is shown.
Avnish Burman
Understood. Last thing, can you just tell me the volumes of MCC in this quarter and the realization?
Subbarami Reddy Oruganti
So in this quarter, the total volumes are around 4,764 metric tons and the realization — average realization is 216.2.
Avnish Burman
Okay. Thank you and all the best.
Operator
Thank you. The next question is from the line of Ankur Savaria, an Individual Investor. Please go-ahead. Shankur, your line has been unmuted. Please go-ahead with your question.
Ankur Savaria
Sure. Yeah. Hello. Am I audible? Hello.
Operator
Yes, sir, please go-ahead with your question
Ankur Savaria
Yes, sir. My question is that since some of our capacity was lying vacant in the other states, so what is the loss — total loss do you see not in terms of the projected revenue, but the real revenue in these 180 days, sir.
Subbarami Reddy Oruganti
Yeah, in 180 days around INR50 crores of revenue will be there from Hyderabad unit, but some — to some extent that can be recovered from the other units for Dahej and Jagadia or maybe around in this period some 40%. But sir, the bottom-line, the profits as there is a business interruption policy is that the profit I can get it from.
Ankur Savaria
So my question is overall INR60 crores would be loss would be from the Hyderabad plant. And overall, how much can we make-up from our unutilized capacity in the other states.
Subbarami Reddy Oruganti
So yeah, that’s what mainly around this INR20 crores out of this total loan 5 to INR60 crores.
Ankur Savaria
So our net loss would be about INR40 crores of revenue that rate.
Subbarami Reddy Oruganti
Yes, yes.
Ankur Savaria
Okay, sir. That’s all the thank you.
Operator
Thank you. The next question is from the line of Madhurraj from CounterCyclic Investments. Please go-ahead.
Madhur Rathi
Yes, sir, sir, my question was partially answered, sir. Regarding our capacity of 19,000, 6,000 has gone because of this Hyderabad unit. Is there a possibility that if things don’t go our way in the 180 days to restructure or the plant. So can we move our equipment to the other facility or everything is damaged and insurance claim is the only source of getting that facility on and up and running?
Amit Raj Sinha
Yes, yes, Madhur, I think that’s a very relevant question. See, at this moment, we are not being allowed access to the facility. So it is difficult for us to make an assessment. Definitely, in case we see delays, we will work to have alternate plans. We have already done some groundwork on Plan B, Plan C and Plan B basis, the turnaround time we can get comfort from our investors, sorry, the customers. So you know the easier and the faster way is what will be taken in.
Madhur Rathi
Got it. And sir, do we expect some margin pressure because I suppose that the fixed-cost or cost of employees and all we would have to incur, but we aren’t making any revenue from this plant. So can we do we expect the scenario for margin pressure over the next six months?
Subbarami Reddy Oruganti
Is it non-operational or this kind of more.
Madhur Rathi
Got it. Sir, just one thing I had. Sir, MCC, what is I understand that our competitors argued get much higher realization than what we get, so any possibility or how can we increase our realization for GG?
Amit Raj Sinha
Yes, yes., I’ll just tell you one thing. You know, if we make this statement of competitors having higher realization, I would say somewhere is — there is apple and oranges being compared. You know, nothing for the competitors. Of course, everybody is good and they follow the right practices. But sometimes in the cost realizations, you know, the freight is added. The road transport is added. So all these are hidden charges, which looks good in terms of good realizations, but effectively it’s not coming to the company.
And in terms of ways and means to improve realizations, we have kind of on earlier occasions spoken out that we have special grades, we have co-process grades and all the special and co-process combines in the range of — they sell-in the range of around 20% of our volumes and there the margins are much better. And our sales to all our customers are a mix of the standard grades, the special grades and the co-process grades.
Madhur Rathi
Got it. So thank you. Sir, and just a final question, sir, this INR70 crore API revenue that we are projecting, sir, is this based on orders that we have received from our customers in the European market or like we will market it going-forward and we expect to reach in the INR70 crore revenue?
Amit Raj Sinha
No, no. At this moment, our export orders are minimal. We are having most of the visibility of the primarily from domestic and ROW markets. And that is why we are looking at a visibility of around 18% to 20% EBITDA.
Madhur Rathi
And sir, when do we expect this CET the 4Q? So yeah, I’ll get back on I’ll get back-in queue. Sir. Thank you very much and all you.
Amit Raj Sinha
Thank you.
Operator
The next question is from the line of Deepak from Sapphire Capital. Please go-ahead.
Deepak Poddar
Yeah, am I audible, sir. Yeah. Hello.
Amit Raj Sinha
Yeah, yeah.
Deepak Poddar
Thank you very much, sir for this opportunity and my condolence for the incident. So sir, just you mentioned about INR60 crores of impact and earlier we were targeting around 25% growth. So ideally what INR550 crores of revenue is what we might be targeting for this year?
Amit Raj Sinha
So before the incident, Deepak, we had indicated that we will have a top-line growth of at least 25%. Correct. However, now considering this, we are yet to come back on the kind of impact on the top-line. However, on the bottom-line, what is it — the thing I can assure you is that we don’t see any major impact on the bottom-line considering that we have had comfort of the insurance being available for the loss of profits.
Deepak Poddar
Okay, I got it. But you mentioned that we have a INR60 crores revenue impact, right? That’s what you mentioned over next six months, right?
Subbarami Reddy Oruganti
Yes, because now maybe around 5750 to INR575.
Deepak Poddar
Yeah. So yeah, 550 yeah, that is the range we might be looking at. But this insurance claim, I mean that we did in terms of provisioning around INR121 crores. So we don’t expect any further provisioning to be done, right, on this account?
Subbarami Reddy Oruganti
Yes, yes.
Deepak Poddar
And any kind of chances of reversal happening from this? I mean what sort of reversal we can see given you have provided on a higher-end, that’s what you mentioned.
Subbarami Reddy Oruganti
Okay. Once we get the insurance plan on receipt only, we have to recognize that the revenue. So this revenue recognition concept say it’s on receipt or once we receive the — and intonation, then client receipt. Receipt of decline, then we can it. We can recognize that this will be reduced.
Deepak Poddar
This will be reduced. And when we say we don’t see any impact it’s just a follow-up, it’s just a follow-up. Hello? Hello. Yeah. Yeah. So just a follow-up, sir, when we say bottom-line, we don’t see any major impact. So ideally, I mean last year we bidded about INR70 crores of bottom-line, right. So on that number, we can see some growth, I mean in this year because of no impact, I mean, so some clarity on there would be helpful.
Subbarami Reddy Oruganti
So yes, maybe it depends upon this year if we get it the insurance time completely we are expecting, but if there is any delay or in some aspects, some areas, maybe it is deferred. Otherwise there will not be much impact on them.
Deepak Poddar
So we can if there is no, no impact on insurance part, we get as per timeline, then we will see some growth also on the bottom-end. That is possibility hello,
Operator
Yes, sir, please go-ahead.
Deepak Poddar
Yeah. So I asked it. I mean, so what you’re saying is that if we get the insurance part on-time, then we can see some growth on-bottom line also because you said we don’t see any major impact on the bottom-line?
Amit Raj Sinha
That’s right, Mr Deepak.
Deepak Poddar
Okay, okay. That’s very clear, sir. And I would like to wish you all the very best. Thank you. Thank you. Thank you very much.
Operator
Thank you. The next question is from the line of Devendra Chawla from Exponentials. Please go-ahead.
Devendra Chawla
Hello. First of my condolence is regarding the fire incident. I wanted to know what has any change in prices of NCC over the last month or so.
Amit Raj Sinha
No, no, Mr. We have not had any major change in prices of MCC. The input material prices have remained stagnant and so we haven’t really had any change in prices.
Devendra Chawla
Lot of the of the finished good as well.
Amit Raj Sinha
Yeah, yeah, not at all.
Devendra Chawla
Alright, thank you, guys.
Amit Raj Sinha
Thank you.
Operator
Thank you. I wish to ask questions may please press char and one to understand. The next question is from the line of Meeta Rumpta, an individual Investor. Please go-ahead. MS. Meeta, your line has been unmuted. Please go-ahead with your question. As there is no response from the current participant, we’ll move on to our next question. The next question is from the line of Anupam Agarwal from Lucky Investment. Please go-ahead.
Devendra Chawla
Thank you for taking my question and to the family of the deceased. Sir, just one question. How much capex we will have to incur for getting the plant up and running back-in the next six months
Amit Raj Sinha
Anupam, at this moment, the access to the facility is only limited. We believe that whatever is the insurance amount which we are going to get that should be good enough for us to set-up the whole facility.
Anupam Agarwal
But the building — building construction is also part of that. I mean, would we have to still build-up the entire thing or is it just plant and machinery?
Amit Raj Sinha
No, no, no, it is fixed asset, plant and machinery and building as well and building.
Anupam Agarwal
Okay. So very early to comment as to how much we’ll have to pay.
Amit Raj Sinha
I think it will only be a guesswork but however, we believe that the insurance amounts, whatever has been insured is aligning with the rebuilding value, so it should cover the costs.
Anupam Agarwal
Understood. And we will be coming up with the same amount of capacity of 6,400 tons or will there be some increase or decrease in the stated capacity?
Amit Raj Sinha
Yes. Anupam, I just spoke around three, four questions before that once we have full access to the facility, we will make an assessment as to plan A is the best thing or plan B or plan C? And our objective would be that we turn-around the facility and the production to our customers, ASAP, that would be our immediate focus. So in that process, which plant we go to will depend on what kind of timelines and what kind of activity buildup we need to do basis the facility?
Anupam Agarwal
Understood. Understood. My second question is in the INR100 crores of sales of MCC this quarter, how much was the domestic and exports?
Subbarami Reddy Oruganti
Around 60% is around exports are 38 crores. INR108 crores. Exports are INR78 crores
Anupam Agarwal
Sorry, can you come again? Sir, can you come again with the number?
Subbarami Reddy Oruganti
Yeah, around 78, around nearly 80 crores exports.
Anupam Agarwal
Exports is INR80 crores. Hello?
Subbarami Reddy Oruganti
Yes, yes, sir. This is INR80 crores, INR80 crores.
Anupam Agarwal
Okay. Okay, sir. Thank you so much.
Operator
Thank you. The next question is from the line of Dinesh from. Please go-ahead.
Dinesh Kulkarni
Hello, sir. Thank you. Thank you for giving me another opportunity. Sir, my question is again to the incident because I was — all of us were tracking that incident very closely. There is some news saying that some of the workers had already flagged that there were some security and incidents possible because it was not being taken care of well of. How much truth is that in that? Because I’m sure the people who were there, they would not lie at this point in time, right?
Amit Raj Sinha
So Dinesh, one thing I tell you that for all good reasons if you start believing media at the face value of what they print or what they showcase then the world would be a different world. It isn’t true. You can come and you can have a look at the people, you can meet the people, there have been people who have been hospitalized and who have been discharged and they have said sir, duty back of our so that isn’t the case.
And on the flip side, from the company side, if you have a look, if there is — there are old machinaries being used, which way does it benefit the company? There is productivity loss, there are other challenges, output is less, so maintenance costs are high. So there is — it is absolute foolishness to have an equipment which has lifted its life to be using it. Now that we have had. We have had safety audits done, safety audit reports are available, ISO 45001 is in-place. So there is no reason to believe somebody who just says for the sake of saying it or who just prints for the sake of publicity.
Dinesh Kulkarni
Yeah, thank you for the clarification. And just hope that we recover from this actions. Thank you. All the thank you.
Amit Raj Sinha
Thank you. Thank you, Dinesh.
Operator
Thank you. The next question is from the line of Anas, an individual Investor. Please go-ahead.
Unidentified Participant
Yeah. Thank you. Thank you, sir. Thank you for taking my question. Last week I visited your — that plant in Telangana. It’s damaged too much. I was — I’m — sir, when I was you here now both Indian team regarding, they are very supportive to you. Gap planned with Chalut. Are question here, yes, you have fire NSC gap or media, why fire NSE and I guess what to Pata, Amit sir to answer which may who answer me so that I will say. So fire-related question or question is is one car payment cars UFTI, you know who I can the.
Amit Raj Sinha
So here, I would like to bring out that fire NOC, the applicability of fire NOC for this size and height of plant is not there. If we didn’t have NOC and if there was a rule in-place, the plant would have been stopped. Basic rule says that for this height of plant there is no need for a fire NOC. In terms of the compensation package which has been declared by the chief minister we are in close discussions with the government of Telangan officials to see what best can be done to the people, to our people and as soon as possible. And meanwhile, all this all this while it all this happens, we are working to support them by our interim payouts of certain amounts which are anyway being sent out as press release.
Unidentified Participant
Thank you, sir. Thank you. Thank you, sir. And all the best. We believe in you.
Amit Raj Sinha
Thank you very much. Thank you for your confidence.
Operator
Thank you. Thank you. As there are no further questions, I would now like to hand the conference over to the management for closing comments.
Amit Raj Sinha
Thank you. Thank you. Before we conclude, I would once again like to express our heartfelt condolences to the families affected by this unfortunate incident at our Hyderabad unit. As a responsible organization, we are committed to maintaining the highest standard of safety protocols across all our facilities. We have already initiated detailed safety audits and are reinforcing preventive systems to ensure such incidents are not repeated. We thank all our stakeholders for their continued trust and support as we move forward with a focus on sustainable and safe operations. Thank you.
Operator
Thank you. On behalf of CoIndia Advisors, that concludes this conference. Thank you for joining us and you may now disconnect your lines.