Sical Logistics has secured a ₹39.23 crore contract from Steel Authority of India Ltd (SAIL) for excavation and transportation of iron ore, ICW and subgrade ore from Dalli Mechanised Mine, Phase 6. According to reports from CNBC TV18, the contract was awarded through a letter dated October 3, 2026, and will run from October 5, 2026, to November 18, 2028. The contract value of ₹39,22,92,000 excludes goods and services tax (GST). This filing is classified as a significant order under SEBI LODR Regulation 30, indicating immediate executability rather than a pre-qualification or mobilisation notice.
The latest contract win brings Sical Logistics' total disclosed order book to ₹534.73 crore, providing 4.04 quarters of coverage based on average quarterly revenue. As per CNBC TV18, the company's annual revenue has grown from ₹240.90 crore in FY25 to ₹422.60 crore in FY26, representing a YoY growth of +75.4%. This surge aligns with the increased execution activity visible in the balance sheet expansion, with the company sustaining order wins particularly with the major Central Coalfields Limited contract in Q2FY27.
Despite strong revenue growth, Sical Logistics faces financial pressures with free cash flow remaining negative at -₹51.10 crore due to high capital expenditure of ₹103.40 crore in FY26. According to latest financial data, the company shows working capital pressure with a Current Ratio of 1.12x, below the comfortable threshold of 1.2x. The Total Liabilities/Equity ratio stands at 2.37x, indicating elevated leverage when considering all liabilities. While Operating Cashflow improved to ₹52.30 crore in FY26, heavy capital expenditure is consuming cash generation, potentially straining the ability to fund working capital cycles for new orders without external financing.
The contract covers the excavation and transportation of iron ore, ICW and subgrade ore from Dalli Mechanised Mine, Phase 6, as reported by CNBC TV18. Sical Logistics confirmed that the order has been awarded by a domestic entity, with the company's promoters, promoter group and group companies having no interest in the entity awarding the contract. The order does not fall under related-party transactions.
Sical Logistics Ltd, established in 1955, is a leading integrated logistics service provider in India. According to CNBC TV18, the company was acquired by Delhi-based Pristine Malwa Logistics Park Pvt Ltd in 2023. Its major operations include mining projects for Northern Coalfields Ltd in Madhya Pradesh and Mahanadi Coalfields Ltd in Odisha. The company also owns and operates a cutter suction dredger currently deployed on the east coast of India, conducting dredging operations at Ramayapatnam Port.
