Southern Petrochemical Industries Corporation Ltd - Stock Valuation and Financial Performance

BSE: 590030 | NSE: SPIC | Fertilizers | Small Cap

SPIC Share Price

70.27 -1.96 -2.71%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on SPIC

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Southern Petrochemical Industries Corporation stock performance -

mw4me loader
P/E Ratio (SA):
10.18
Market Cap:
1,431 Cr.
52-wk low:
52.5
52-wk high:
107.5

Is Southern Petrochemical Industries Corporation Ltd an attractive stock to invest in?

1. Is Southern Petrochemical Industries Corporation Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Southern Petrochemical Industries Corporation Ltd is a average quality company.

2. Is Southern Petrochemical Industries Corporation Ltd undervalued or overvalued?

The key valuation ratios of Southern Petrochemical Industries Corporation Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Southern Petrochemical Industries Corporation Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Southern Petrochemical Industries Corporation Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of SPIC:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Southern Petrochemical Industries Corporation Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 31.7%10.8%15.5%5.7%10%71.8%13.9%10.5%20.7%28.2%-
Value Creation
Index
1.3-0.20.1-0.6-0.34.10.0-0.30.51.0-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,3452,0941,8381,4991,9942,5922,0791,5271,8752,8292,481
Sales YoY Gr.-55.7%-12.2%-18.4%33%30%-19.8%-26.6%22.8%50.9%-
Adj EPS 6.91.72.31.32224.13714.26.9
YoY Gr.--75.1%32.6%-43.9%53.9%1015.7%-81.3%-26.2%130.9%101.9%-
BVPS (₹) 9.410.311.513.21517.119.722.630.243.548.2
Adj Net
Profit
1413546.526.140.144883.961.9143289141
Cash Flow from Ops. -34638930.2-35133067.4136360-106-30.7-
Debt/CF from Ops. -1.40.34-1.50.85.930.3-2.9-13-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 8.6%7.3%10.8%50.9%
Adj EPS 8.3%48.4%51%101.9%
BVPS18.6%23.7%30.3%44.2%
Share Price 19.2% 22.5% 34.7% 26.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
82.216.419.910.21413722.414.426.638.515.1
Op. Profit
Mgn %
3.74.34.32.45.93.97.35.69.612.711
Net Profit
Mgn %
10.51.72.51.7217.344.17.610.25.7
Debt to
Equity
2.30.50.520.91.210.20.50.5-
Working Cap
Days
18118422725816817125126715012861
Cash Conv.
Cycle
-77-109-181-127-59-113-197-207-76-378

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 10.81%

Net Profit is growing at healthy rate in last 3 years 50.95%

Sales growth is good in last 4 quarters at 26.34%

Return on Equity has declined versus last 3 years average to 15.10%

Latest Financials - Southern Petrochemical Industries Corporation Ltd.

Standalone Consolidated
TTM EPS (₹) 6.9 8
TTM Sales (₹ Cr.) 2,481 2,481
BVPS (₹.) 48.2 53.8
Reserves (₹ Cr.) 777 892
P/BV 1.46 1.31
PE 10.18 8.79
From the Market
52 Week Low / High (₹) 52.52 / 107.45
All Time Low / High (₹) 5.10 / 107.45
Market Cap (₹ Cr.) 1,431
Equity (₹ Cr.) 203.6
Face Value (₹) 10
Industry PE 20.3

Management X-Ray of SPIC:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales1,3452,0941,8381,4991,9942,5922,0791,5271,8752,829
Operating Expenses 1,3092,0291,8001,6511,8833,0551,9661,4571,6992,475
Manufacturing Costs423649589568731800652541409325
Material Costs7931,2621,0637901,0641,5981,1858151,1872,032
Employee Cost 37444353536259606773
Other Costs 56741052403559570403645
Operating Profit 366538-152111-46311370176354
Operating Profit Margin (%) 2.7%3.1%2.1%-10.1%5.6%-17.9%5.4%4.6%9.4%12.5%
Other Income 101219219558510292321
Interest 21281211413634141431
Depreciation 44302931403232384444
Exceptional Items 85090200000
Profit Before Tax 6618252637535747140300
Tax 0000000-5015
Profit After Tax 6618252637535752140284
PAT Margin (%) 4.9%0.8%1.3%1.8%1.9%2.1%2.7%3.4%7.5%10.1%
Adjusted EPS (₹)3.20.91.21.31.82.62.82.66.914.0
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%7%11%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 204222246269306348401460614886
Share Capital 216216216204204204204204204204
Reserves -1253065102144197256411682
Minority Interest0000000000
Debt425120120536263366279104302398
Long Term Debt5700341631290037101
Short Term Debt368120120502100238279104264297
Trade Payables6359091,1463707391,2091,182949488602
Others Liabilities 19812197926-159340106164
Total Liabilities 1,4621,3721,6091,1831,3341,9081,9551,5521,5102,050

Fixed Assets

Gross Block1,4051,4141,417284302319468675865846
Accumulated Depreciation1,0961,1141,137225788116151184190
Net Fixed Assets309300280261245231352524681656
CWIP 71312233569261821
Investments 32323237366765599492
Inventories18413393229189188135351449220
Trade Receivables15206392471897010
Cash Equivalents 161016787772106617
Others Assets9008651,1135347731,2581,2954892781,053
Total Assets 1,4621,3721,6091,1831,3341,9081,9551,5521,5102,050

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -34638930-35133067136360-106-31
PBT 6618252637535747140300
Adjustment -48714341715667283968
Changes in Working Capital -364301-37-417222-4616285-285-354
Tax Paid 0-1-10-14-40-1-44
Cash Flow From Investing Activity 14-14-16-17-40-101-151-158-156-16
Capex -6-14-16-19-36-67-151-183-161-29
Net Investments 200000-40024-10
Others 1002-3611613
Cash Flow From Financing Activity 308-381-9360-2901026-18818958
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 28-10003412900017264
Interest Paid -18-34-9-13-15-33-33-11-8-28
Dividend Paid 000000000-10
Others 298-2470339-40313640-1772533
Net Cash Flow -24-65-8069-814-7311
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)41.548.7811.1910.4912.9616.3215.2212.0526.1437.91
ROCE (%)17.689.0510.46.3111.3813.5211.718.8620.930.05
Asset Turnover Ratio1.221.481.241.081.61.631.090.891.251.61
PAT to CFO Conversion(x)-5.2421.611.2-13.58.921.262.396.92-0.76-0.11
Working Capital Days
Receivable Days438191352211
Inventory Days32282239382628577643
Payable Days18822335335019022236847722198

Southern Petrochemical Industries Corporation Ltd Stock News

Southern Petrochemical Industries Corporation Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of SPIC on 28-Mar-2024 16:01 is ₹70.27.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of SPIC stood at ₹1,431.
The latest P/E ratio of SPIC as of 28-Mar-2024 16:01 is 10.18.
The latest P/B ratio of SPIC as of 28-Mar-2024 16:01 is 1.46.
The 52-week high of SPIC is ₹107.5 and the 52-week low is ₹52.52.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of SPIC is ₹2,481 ( Cr.) .

About Southern Petrochemical Industries Corporation Ltd

Southern Petrochemical Industry Corporation (SPIC) since its founding in 1975 has been providing product & services that feed, nourish, and protect the agriculture & rural ecosystem.

During the financial year 2000-01, the company disposed of its stake in SPIC PHI Seeds Ltd., in favour of the overseas joint venture partner and also hived off the Heavy Chemicals Division. The company is in the process of identifying suitable partners/ business options for hiving off the pharmaceutical and biotechnology operations.

The company is now a well diversified one with area of businesses spreading from fertilizers to pharma:

Fertilizers- SPIC is among India's largest manufacturers of fertilizers. Operating through a vast India-wide distribution network involving more than 12 states and 4000 outlets, we market more than 2 million tonnes of fertilizers annually to enhance the agricultural productivity and profitability of millions of farmers.

- Urea - Complex fertilizers- Di ammonium phosphate (DAP) - Fertilizer-grade gypsum - Muriate of potash - Sulphuric acid, phosphoric acid, and aluminium fluoride

Engineering- SPIC's engineering services business offers specialized and turnkey project-based solutions mainly in:- Rural and railway electrification - Chemicals and petrochemicals - Fertilizers - Oil and gas - Power

Pharma- Fermentation-based Penicillin-G—among the world's most cost-effective; - Customs synthesis and contract manufacturing of active pharmaceutical ingredients (apsis), drug    intermediates, and synthetic organics compounds for global innovator companies; - Finished dosage forms; - Plant-based neutraceuticals.

Enzymes- Leather - Chemicals and pharmaceuticals - Textiles - Pulp and paper - Food processing - Vegetable oil extraction - Animal feed - Breweries

Agri biotech- Tissue culture plants - Bio-fertilizers - Hybrid seeds - Crop protection

Awards/ Achievements:

  • National Safety Award for best safety performance 2003 from British Safety Council, UK
  • Best technical innovation award 2003-04 from Fertilizer Association of India 
  • Best environmental protection award 2003-04 from Fertilizer Association of India
  • Star Award 2003 from National Safety Council, Tamil Nadu Chapter
  • Certificate of merit for ISO 9001 and ISO 14001 certification from Indian Chemical Manufacturers' Association 
  • Commendation certificate for being among the top importers 2003-04 at Tuticorin Port from Tuticorin Customs Commissionerate
  • Best importer award 2003-04 for fertilizer raw materials from Tuticorin Port Trust.

Certifications

  • 1997- ISO 9002 certification for SPIC's engineering services workshop ABS Quality Evaluation, US 
  • 1995- ISO 9001 certification from ABS Quality Evaluation, US 

Awards for the engineering division

  • British Safety Council, UK - Five Star Rating Award- Sword of Honor Award- National Safety Award
  • National Safety Council, US- Award of Honor- International first place- Award of Merit- Safety Star Award
  • Kuwait National Petroleum Company- Refinery Managers' Rolling Trophy 2001- Refinery Managers' Rolling Trophy 1998
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