SANCO - Sanco Industries

📊 NSE: SANCO 🏢 Plastics Products 📅 Last Updated: 12/14/2025 12:46

💰 Financial Performance

Revenue Growth by Segment

Not disclosed in available documents for the current period; historical revenue data is unavailable due to the company's non-cooperation with rating agencies.

Geographic Revenue Split

100% of operations are centered in Delhi, India, where the company manufactures its PVC products.

Profitability Margins

Net Profit Margin is significantly negative; the company reported a Net Loss of INR 0.07 Cr in June 2024 and a Net Loss of INR 0.55 Cr in March 2024.

EBITDA Margin

Not disclosed in available documents; however, the company's default status on INR 49 Cr of debt indicates a lack of core profitability to service interest obligations.

Capital Expenditure

Not disclosed in available documents; planned CAPEX is likely zero as the company is undergoing insolvency proceedings.

Credit Rating & Borrowing

Credit Rating is 'CRISIL D' (Default) for total bank loan facilities of INR 49 Cr, including INR 28.6 Cr in long-term and INR 20.4 Cr in short-term facilities.

⚙️ Operational Drivers

Raw Materials

PVC resin and copper are the primary raw materials used for manufacturing PVC wires, cables, and pipes; specific cost percentages are not disclosed.

Capacity Expansion

Current installed capacity for PVC wires, cables, and pipes is not disclosed; no expansion is planned due to the ongoing Corporate Insolvency Resolution Process (CIRP).

Raw Material Costs

Not disclosed in available documents; however, fluctuations in PVC resin prices (linked to crude oil) directly impact the cost of manufacturing pipes and fittings.

Manufacturing Efficiency

Not disclosed in available documents; capacity utilization is likely low given the company's financial insolvency.

📈 Strategic Growth

Expected Growth Rate

Growth Strategy

The company has no active growth strategy; it has been under the Corporate Insolvency Resolution Process (CIRP) since July 29, 2022, following an order from the National Company Law Tribunal (NCLT), New Delhi. The current focus is on debt resolution rather than business expansion.

Products & Services

PVC wires, PVC cables, PVC pipes, and pipe fittings.

Brand Portfolio

Sanco

New Products/Services

No new product launches are planned; expected revenue contribution from new products is 0%.

Market Expansion

No market expansion plans are currently active.

Strategic Alliances

None disclosed; the company is currently managed by Resolution Professional Mr. Arunava Sikdar.

🌍 External Factors

Industry Trends

The Indian PVC and cable industry is growing due to infrastructure demand; however, Sanco is unable to capitalize on this trend due to its 'CRISIL D' rating and insolvency status.

Competitive Landscape

The company competes in the fragmented PVC and cable market but is currently disadvantaged by its legal and financial status.

Competitive Moat

The company has no sustainable moat; its default status and failure to provide consolidated financial results indicate a total breakdown of competitive advantage.

Macro Economic Sensitivity

Highly sensitive to interest rates and credit availability; the inability to service INR 49 Cr in debt led to the current default rating.

⚖️ Regulatory & Governance

Industry Regulations

The company is primarily governed by the Insolvency and Bankruptcy Code (IBC), 2016, and is subject to NCLT proceedings.

Legal Contingencies

The company is undergoing a Corporate Insolvency Resolution Process (CIRP) initiated on July 29, 2022, by the NCLT New Delhi. It also faces compliance issues with SEBI LODR regulations regarding the non-submission of consolidated financial results.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the outcome of the CIRP; there is a 100% risk that equity holders may receive no value if the company is liquidated or if the resolution plan favors creditors.