JKB Financial Services Ltd.

As on : 02-Jul-2025

Corporate News
02-Jul-2025 12:07

Sigachi Industries reports fire accident at Pashamylaram, Telangana

Sigachi Industries press release on fire accident at Hyderabad:

It is with anguish that we share details of the accident that occurred at the Sigachi Industries facility in Pashamylaram, Telangana, resulting in the loss of 40 valued team members and one that left over 33 injured. Our thoughts are with those affected by this tragic accident.

Since the time of the accident, we have been coordinating the emergency response, family support, and extending cooperation with the investigation and compliance efforts. Sigachi Industries Ltd has committed to an ex-gratia compensation of INR 1-Crore to the families of the deceased, while those injured will receive full medical and rehabilitation support.

As we await the results of the investigation, we would like to clarify that the accident was not caused by a reactor explosion at the plant, as mentioned in sections of the media. We will continue to send updates as we receive information from the investigations.

Our plant operations will remain temporarily suspended for approximately 90 days.

GET IN TOUCH