Southern Petrochemicals Industries Corporation Limited (SPIC)
₹55.43 -1.84% last close, 23 Oct
Snapshot
Southern Petrochemicals Industries Corporation Limited closed at ₹55.43 on 23 Oct 2026, 18.8% below its 200-day average, with an RSI(14) of 22.3 and a P/E of 5.52. On the daily chart it is in a strong downtrend, with a technical score of 18/100 (strong bearish). In the quarter ended June 2026, revenue grew 8.7% and net profit fell 9.8% from a year earlier. Data as of 23 Oct 2026.
Price
- Price
- ₹55.43
- Day change
- -1.84%
- Market Cap
- ₹1,129 Cr
- 52-week range
- ₹54.13 – ₹93.88
- From 52-week high
- -40.96%
Financials23 Oct 2026
- P/E
- 5.52
- P/B
- 0.82
- ROE
- 14.9%
- ROCE
- 18.0%
- Debt to Equity
- 0.51
- OPM
- 8.8%
- YoY qtr sales growth
- 8.7%
- YoY qtr profit growth
- -9.8%
- Dividend Yield
- 3.61%
Latest quarter Jun 2026 · Consolidated
Technicals23 Oct 2026
- Trend
- Strong Downtrend
- Technical score
- 18/100 · Strong bearish
- MACD
- Bearish
- RSI (14)
- 22.26
- ADX (14)
- 40.23
- SuperTrend
- Bearish
- vs 20-day SMA
- -9.42%
- vs 50-day SMA
- -15.54%
- vs 200-day SMA
- -18.84%
- RS rating
- 22.00
- Nearest support
- ₹55.10
- Nearest resistance
- ₹58.62
Exchange activity23 Oct 2026
- Delivery
- 42.64% vs 50.64% average
- Volume vs its average
- 1.7×
Events
- Latest results
- Q1 FY27, filed 15 Aug 2026
Exchange data. Each figure as its own page shows it; the dates are the data's. Information only, not investment advice.
📈 Share price & events
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Southern Petrochemicals' revenue was ₹849 Cr (+8.7% year on year, +45.3% on the previous quarter), and net profit ₹60.2 Cr (-9.8% year on year); the operating margin was 6.9%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹849 | +8.7% | +45.3% |
| Operating profit | ₹58.8 | -37.0% | +30.6% |
| Net profit | ₹60.2 | -9.8% | +107.5% |
| EPS (₹) | 2.96 | -9.8% | +104.1% |
| Operating margin | 6.9% | — | — |
SPIC delivery percentage
NSE end-of-day data for
On Fri, 23 Oct 2026, 42.64% of the SPIC shares traded on NSE were taken to delivery, against the stock's own 20-session average of 50.64%. That is close to its usual level.
Delivery in the last 5 sessions: 38.6% · 61.6% · 61.0% · 33.8% · 42.6%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Southern Petrochemicals Industries Corporation Limited (SPIC) has submitted the compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate from the Registrar and Share Transfer Agent, Cameo Corporate Services Limited, confirms that dematerialization requests received during the period were processed and securities were listed on the relevant exchanges. It also certifies that physical share certificates were mutilated and cancelled within the prescribed 15-day limit. This is a standard quarterly administrative filing with no operational or financial impact.
- Regulation 74(5) compliance certificate submitted for the quarter ended 30th September 2026
- Confirmation certificate issued by RTA Cameo Corporate Services Limited dated October 05, 2026
- Mutilation and cancellation of dematerialised share certificates confirmed within 15 days
Southern Petrochemical Industries Corporation (SPIC) announced a planned shutdown of its manufacturing plants starting 3rd October 2026. The shutdown is scheduled to undertake periodical maintenance, critical equipment replacement, and other activities. The company expects to resume operations within four weeks. Given that 100% of SPIC's manufacturing is concentrated at its Tuticorin facility, a one-month shutdown directly impacts production volumes for Q3 FY27.
- Plant operations shut down starting from 3rd October 2026
- Expected duration of shutdown is within 4 weeks
- Activities include periodical maintenance and critical equipment replacement
- Restart intimation to be submitted to stock exchanges upon completion
Southern Petrochemicals Industries Corporation Limited (SPIC) has released the notice convening its 55th Annual General Meeting (AGM) on September 28, 2026, via video conferencing. The company is seeking shareholder approval to declare a dividend of ₹2.00 per equity share (face value ₹10) on 20,36,40,336 shares, translating to an aggregate payout of ~₹40.73 Cr (~19.3% of FY26 PAT). The record/cut-off date to determine eligible beneficial owners holding shares in electronic form is September 21, 2026. Other agenda items include director appointments/re-appointments and executive remuneration approvals.
- Proposed final dividend of ₹2.00 per share on 20,36,40,336 equity shares of face value ₹10 each.
- Record date for electronic shareholding set as Monday, September 21, 2026.
- 55th AGM scheduled for Monday, September 28, 2026, at 2:00 PM IST via VC/OAVM.
- Proposed re-appointment of Independent Director Mr. T K Arun for a 5-year term from November 11, 2026.
- Revision of Whole-Time Director Mr. K R Anandan's remuneration including basic salary/allowances of ₹1.02 Cr and performance pay of ₹19.62 lakh.
Southern Petrochemicals Industries Corporation Limited (SPIC) has submitted an advance copy of its press release covering the unaudited financial results for the quarter ended June 30, 2026. For Q1 FY27, revenue reached ₹848.81 Cr compared to ₹780.63 Cr in Q1 FY26 (up 8.7% YoY) and ₹584.00 Cr in Q4 FY26. Net profit for the quarter stood at ₹60.18 Cr against ₹66.71 Cr in the prior-year period and ₹29.00 Cr in the preceding quarter. The company maintains a market capitalization of ₹1,372 Cr with a TTM P/E multiple of 6.7x.
- SPIC submitted an advance press release for the quarter ended June 30, 2026, on August 14, 2026
- Q1 FY27 revenue stood at ₹848.81 Cr, recovering sequentially from ₹584.00 Cr in Q4 FY26
- Operating profit for the quarter came in at ₹58.79 Cr with net profit at ₹60.18 Cr (EPS of ₹2.96)
- TTM revenue and net profit stand at ₹3,024 Cr and ₹204 Cr respectively against a net worth of ₹1,191 Cr
Southern Petrochemicals Industries Corporation Limited (SPIC) announced key changes to its Board of Directors effective August 14, 2026. The company appointed Dr. P Sankar, IAS (2006 batch) and Mr. Sanket Balvantrao Waghe, IAS (2021 batch) as Non-Executive Nominee Directors. Additionally, Mr. T K Arun was re-appointed as Non-Executive Independent Director for a second 5-year term starting November 11, 2026. All appointments are subject to shareholder approval at the upcoming 55th Annual General Meeting.
- Dr. P Sankar, IAS (2006 batch), Agricultural Production Commissioner & Secretary of Agriculture (TN Govt), appointed Non-Executive Nominee Director effective August 14, 2026.
- Mr. Sanket Balvantrao Waghe, IAS (2021 batch), Executive Director at TIDCO, appointed Non-Executive Nominee Director effective August 14, 2026.
- Mr. T K Arun re-appointed as Non-Executive Independent Director for a second 5-year term commencing November 11, 2026.
- All board changes are subject to shareholder approval at the upcoming 55th Annual General Meeting.
Southern Petrochemicals Industries Corporation Limited (SPIC) has scheduled its 55th Annual General Meeting (AGM) for Monday, September 28, 2026, at 2:00 PM IST via Video Conferencing. The cut-off date to determine shareholder eligibility for e-voting has been fixed as Monday, September 21, 2026. Additionally, the Register of Members and share transfer books will remain closed from September 22, 2026 to September 28, 2026. This is a standard annual corporate governance procedure with no operational or financial change.
- 55th Annual General Meeting scheduled for Monday, September 28, 2026, at 2:00 PM IST via Video Conferencing.
- Cut-off date to determine e-voting eligibility set for Monday, September 21, 2026.
- Register of Members and transfer books closed from September 22, 2026 to September 28, 2026 (both days inclusive).
Southern Petrochemicals Industries Corporation (SPIC) has fixed September 21, 2026, as the record date for determining shareholder entitlement for a dividend of ₹2.00 per equity share (face value ₹10) for FY 2025-26. At the current share price of ₹67.70, this translates to a dividend yield of approximately 2.95%. The dividend payout is subject to shareholder approval at the 55th Annual General Meeting scheduled for September 28, 2026. This payout comes against FY26 full-year net profit of ₹210.93 crore and EPS of ₹10.40, implying a dividend payout ratio of ~19.2%.
- Record date fixed as Monday, September 21, 2026 for FY 2025-26 dividend
- Recommended dividend of ₹2.00 per fully paid-up equity share of face value ₹10
- 55th Annual General Meeting (AGM) scheduled for Monday, September 28, 2026
- Implies a dividend yield of ~2.95% against the current market price of ₹67.70
Southern Petrochemical Industries Corporation Limited (SPIC) announced that Tmt. Sweta Suman, IAS (DIN: 11292451), Non-Executive Nominee Director representing Tamilnadu Industrial Development Corporation Limited (TIDCO), ceased to be a director effective August 10, 2026. The cessation followed the withdrawal of her nomination by TIDCO via letter dated August 7, 2026. Concurrently, TIDCO nominated Thiru Sanket Balvantrao Waghe, IAS (Executive Director, TIDCO), to serve as its nominee director on the board. The change represents routine administrative rotation of state government nominees with no impact on core operations.
- Tmt. Sweta Suman, IAS, ceased to be Non-Executive Nominee Director effective August 10, 2026.
- Cessation triggered by withdrawal of nomination by TIDCO via letter dated August 7, 2026.
- TIDCO nominated Thiru Sanket Balvantrao Waghe, IAS, as the replacement nominee director.
Mr. V Dakshinamoorthy, IAS, has resigned as a Non-Executive Nominee Director of SPIC effective July 27, 2026. This change follows the withdrawal of his nomination by the Tamilnadu Industrial Development Corporation Limited (TIDCO), a state-level institutional partner. TIDCO has concurrently nominated Thiru P Sankar, IAS, who currently serves as the Agricultural Production Commissioner and Secretary to the Government (Agriculture and Farmers Welfare Department). This is a routine administrative rotation of government-nominated personnel on the board.
- Resignation of Mr. V Dakshinamoorthy, IAS, effective July 27, 2026
- Nomination of Thiru P Sankar, IAS, as the new TIDCO representative
- TIDCO is the nominating authority for this non-executive board position
- SPIC maintains a TTM revenue of Rs 2,956 Cr and a market cap of Rs 1,338 Cr
Southern Petrochemicals Industries Corporation Limited (SPIC) has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The filing, covering the quarter ended June 30, 2026, confirms that the Registrar and Share Transfer Agent (RTA) processed all dematerialization requests within the mandatory 15-day period. This is a standard administrative procedure for listed companies to ensure share registry accuracy. There is no impact on the company's financial position or operations.
- Compliance certificate issued for the quarter ended 30th June 2026
- RTA confirmed processing and cancellation of share certificates within 15 days
- Certificate issued by Cameo Corporate Services Limited dated 3rd July 2026
- Confirms substitution of depository names in the Register of Members
Mr. Sandeep Nanduri, IAS, has resigned as a Non-Executive Nominee Director of SPIC effective July 13, 2026. This change follows the withdrawal of his nomination by the Tamilnadu Industrial Development Corporation Limited (TIDCO), a state government entity. TIDCO has concurrently nominated its Chairman and Managing Director, Dr. D. Karthikeyan, IAS, to fill the vacancy. This is a routine administrative rotation of government-nominated officials and does not impact the company's operational management.
- Resignation of Mr. Sandeep Nanduri, IAS, effective from July 13, 2026
- Withdrawal of nomination initiated by Tamilnadu Industrial Development Corporation Limited (TIDCO)
- New nominee Dr. D. Karthikeyan, IAS, is the Chairman and Managing Director of TIDCO
- SPIC maintains a TTM revenue of Rs 2,956 Cr and a market cap of Rs 1,380 Cr
Southern Petrochemicals Industries Corporation (SPIC) has announced the closure of its trading window starting July 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015. The window will remain closed for all designated persons and their immediate relatives until 48 hours after the announcement of the unaudited standalone and consolidated financial results for the quarter ending June 30, 2026. This is a standard procedure ahead of quarterly earnings reports.
- Trading window closure begins on July 1, 2026
- Closure applies to all Designated Persons and their immediate relatives
- Window reopens 48 hours after the declaration of Q1 FY27 results
- Results cover the quarter ending June 30, 2026
SPIC reported a robust bottom-line performance for FY26, with Profit Before Tax (PBT) rising 41.4% to INR 286.55 crores from INR 202.66 crores in the previous year. Despite a marginal 2.7% decline in annual revenue to INR 3015.10 crores and a 2-week plant shutdown in Q4, the company significantly improved its margins through efficient cost control and raw material sourcing. The Board has recommended a dividend of INR 2 per share (20%). Additionally, the company restructured its leadership by appointing Narasimhan Raghunathan as the new CFO to allow the previous CFO to focus on overall business growth as a Whole-Time Director.
- Annual Profit Before Tax grew by 41.4% YoY to INR 286.55 crores in FY26.
- Q4 FY26 PBT more than doubled to INR 41.82 crores from INR 20.64 crores in Q4 FY25.
- Recommended a dividend of 20% (INR 2 per equity share of INR 10 face value).
- Total annual income remained stable at INR 3015.10 crores despite sector-wide input cost pressures.
- Appointed Narasimhan Raghunathan as CFO effective May 23, 2026, to strengthen the management team.
Southern Petrochemical Industries Corporation (SPIC) has appointed Mr. Narasimhan Raghunathan as the new Chief Financial Officer effective May 23, 2026. He succeeds Mr. K R Anandan, who will step down from the CFO role to focus exclusively on his responsibilities as Whole-Time Director for business growth. Mr. Raghunathan is a highly qualified professional with nearly 25 years of experience in financial operations across various manufacturing industries. This leadership transition aims to strengthen the management team by separating the CFO function from general business oversight.
- Mr. Narasimhan Raghunathan appointed as CFO and Key Managerial Personnel effective May 23, 2026
- Mr. K R Anandan to continue as Whole-Time Director to focus on overall business growth
- New CFO brings 25 years of experience and is a qualified CA, Cost Accountant, and Company Secretary
- Mr. Raghunathan previously held roles at Greenstar Fertilizers, Ashok Leyland, and Ernst & Young
Southern Petrochemical Industries Corporation (SPIC) has announced a final dividend of Rs 2 per equity share for the financial year 2025-26. This payout represents 20% of the face value of Rs 10 per share. The recommendation was made during the Board meeting held on May 22, 2026, and is subject to shareholder approval at the 55th Annual General Meeting. The specific payment date will be announced following the finalization of the AGM schedule.
- Recommended a final dividend of Rs 2 per equity share for the financial year 2025-26.
- The dividend payout is 20% of the face value of Rs 10 per share.
- The announcement followed the Board of Directors meeting held on May 22, 2026.
- Dividend distribution is subject to approval at the upcoming 55th Annual General Meeting.
Company profilewritten 14 Dec 2025
Financial Performance
Revenue Growth by Segment
The company operates as a single segment (manufacture and sale of fertilizers). Revenue from operations for H1 FY26 reached INR 1,597.92 Cr, representing a 5.5% YoY growth compared to INR 1,513.92 Cr in H1 FY25. This recovery follows a significant 30.6% revenue decline in FY24 (INR 1,770.56 Cr vs INR 2,549.69 Cr in FY23) due to flood-related shutdowns.
Geographic Revenue Split
Not disclosed in available documents; however, the primary manufacturing facility is located in Tuticorin, Tamil Nadu, suggesting a strong regional focus in South India.
Profitability Margins
Net Profit Margin for H1 FY26 improved to 8.0% (INR 127.92 Cr profit on INR 1,597.92 Cr revenue) from 6.4% in H1 FY25. This margin expansion was driven by a 1073% increase in other income, primarily from insurance claims for loss of profits.
EBITDA Margin
Operating profit before working capital changes for H1 FY26 was INR 207.70 Cr, yielding a margin of 13.0%, up 22.3% YoY from INR 169.87 Cr in H1 FY25. Core profitability is stabilizing as operations normalize post-disaster.
Capital Expenditure
Capital expenditure on Property, Plant, and Equipment (PPE) surged 249% to INR 224.03 Cr in H1 FY26, compared to INR 64.16 Cr in H1 FY25, indicating significant reinvestment in manufacturing infrastructure.
Credit Rating & Borrowing
Finance costs decreased by 16.5% YoY to INR 18.75 Cr in H1 FY26. The company made a substantial net repayment of short-term borrowings amounting to INR 307.82 Cr, while securing new long-term borrowings of INR 133.78 Cr.
Operational Drivers
Raw Materials
Nitrogenous chemical inputs for Urea production represent the primary cost, with cost of materials consumed totaling INR 1,121.86 Cr in H1 FY26, or 70.2% of total revenue.
Capacity Expansion
Not disclosed in available documents; however, the INR 224.03 Cr investment in PPE in H1 FY26 suggests ongoing capacity maintenance or enhancement at the Tuticorin facility.
Raw Material Costs
Raw material costs remained flat YoY at INR 1,121.86 Cr in H1 FY26 despite a 5.5% increase in revenue, indicating improved procurement efficiency or favorable pricing for nitrogenous inputs.
Manufacturing Efficiency
Operating profit before working capital changes grew 22.3% YoY in H1 FY26, outpacing revenue growth of 5.5%, which signals higher manufacturing efficiency and better cost absorption post-recovery.
Strategic Growth
Expected Growth Rate
12%
Growth Strategy
Growth will be achieved through the full restoration of the Tuticorin Urea plant's capacity following flood damage, realization of pending insurance claims (INR 20.79 Cr), and leveraging the 39% profit growth from Joint Ventures and Associates (INR 22.76 Cr in H1 FY26).
Products & Services
Urea (Nitrogenous chemical fertilizer).
Brand Portfolio
SPIC.
Strategic Alliances
The company has significant JVs and associates that contributed INR 22.76 Cr to H1 FY26 profit, a 39% increase YoY, providing a diversified income stream beyond standalone Urea production.
External Factors
Industry Trends
The fertilizer industry is currently focused on operational resilience and recovery from supply chain shocks. SPIC is positioning itself through infrastructure reinvestment (INR 224 Cr Capex) to ensure future production stability.
Competitive Moat
SPIC maintains a regional moat in South India through its established Tuticorin facility and the 'SPIC' brand name, which are sustainable due to the high capital intensity and regulatory hurdles for new fertilizer plants.
Macro Economic Sensitivity
Highly sensitive to agricultural demand and monsoon patterns which dictate fertilizer consumption cycles.
Consumer Behavior
Demand is driven by farming cycles and government agricultural policies.
Regulatory & Governance
Industry Regulations
Operations are governed by the Companies Act 2013 and Ind AS. Fertilizer production is subject to strict environmental and safety norms, particularly for nitrogenous chemicals.
Taxation Policy Impact
The effective tax rate for H1 FY26 was approximately 33.8%, with current tax liabilities increasing 169% YoY to INR 60.22 Cr due to higher taxable profits.
Legal Contingencies
The company is currently managing an insurance claim process for flood damages totaling INR 85.06 Cr. While INR 55.18 Cr was received, INR 20.79 Cr remains under process and INR 9.09 Cr was rejected and charged to the P&L.
Risk Analysis
Key Uncertainties
The primary uncertainty is the potential for recurring natural disasters (floods) at the Tuticorin site and the timing of the remaining INR 20.79 Cr insurance settlement.
Geographic Concentration Risk
100% of manufacturing is concentrated at the Tuticorin facility, making the entire revenue stream vulnerable to local environmental risks.
Third Party Dependencies
High dependency on insurance providers for loss recovery and on JV partners for 11.8% of total PBT (INR 22.76 Cr of INR 193.16 Cr).
Credit & Counterparty Risk
Trade receivables adjustments of INR 7.65 Cr were noted in FY24; however, the 12-month operating cycle suggests standard credit terms for the fertilizer industry.
