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Southern Petrochemical Industries Corporation Ltd (SPIC)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 590030 NSE: SPIC Fertilizers | Small Cap | Southern Petrochem. Share Price
₹68.75 1.19 (1.76%)
As on 18-Sep'26 16:59
Southern Petrochemical Industries Corporation Ltd (SPIC)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 590030 NSE: SPIC Fertilizers | Small Cap | Southern Petrochem. Share Price
₹68.75 1.19 (1.76%)
As on 18-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹1,400 Cr.
Current Price
₹68.8
52-Week Low / High
₹55 / 103
TTM EPS
₹10.1
TTM Sales
₹3,008 Cr.
Book Value per Share
₹69.3
P/E Ratio
6.83
Lower than its 5-year historical median
Industry PE
15.5
Price to Book (P/B)
0.99
Lower than its 5-year historical median
Price to Sales (P/S)
0.47
Lower than its 5-year historical median
EV/EBITDA
6.49
Higher than its 5-year historical median
Dividend Yield
2.91%
Profitability Efficiency
Return on Equity (ROE)
13.71%
Outperforms industry median
Return on Capital Employed (ROCE)
16.82%
Outperforms industry median
Return on Assets (ROA)
7.94%
Operating Profit Margin
9.2%
Net Profit Margin
5.04%
Gross Profit Margin
7.7%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
58.77%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
12.81%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
37.64%
Asset Quality
Promoter Holding
53.38%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,207 Cr.
Equity
₹203.6 Cr.
Face Value
₹10
All Time Low / High
₹5.10 / 128.10
Check Before You Invest
Quality
Somewhat GoodValuation
Somewhat UndervaluedCheck Valuation charts
Price Trend
Semi Strong
Is Southern Petrochemical Industries Corporation Ltd a good quality company?
Southern Petrochemical Industries Corporation Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Southern Petrochemical Industries Corporation Ltd performance compare with that of its Peers?
Revenue growth of Southern Petrochemical Industries Corporation Ltd vs industry peers?
Southern Petrochemical Industries Corporation Ltd revenue CAGR is 8.22%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Southern Petrochemical Industries Corporation Ltd?
Promoters hold 53.38% of the Southern Petrochemical Industries Corporation Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Southern Petrochemical Industries Corporation Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 13.5% based on the current price.
10 Year X-Ray :
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 endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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 ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 10.4% | 6.3% | 11.4% | 13.5% | 11.7% | 8.9% | 20.9% | 30% | 13.4% | 16.2% | - |
| Value Creation Index ⓘ | -0.3 | -0.6 | -0.2 | 0.0 | -0.2 | -0.4 | 0.5 | 1.1 | 0.0 | 0.2 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 1,838 | 1,499 | 1,994 | 2,592 | 2,079 | 1,527 | 1,875 | 2,829 | 1,944 | 3,086 | 3,008 |
| Sales YoY Gr. | - | -18.4% | 33% | 30% | -19.8% | -26.6% | 22.8% | 50.9% | -31.3% | 58.8% | - |
| Adj EPS ⓘ | 2.3 | 1.3 | 2 | 2.7 | 4.1 | 3 | 7 | 14.2 | 6.1 | 6.5 | 8.5 |
| YoY Gr. | - | -43.9% | 53.9% | 38.6% | 50.9% | -26.2% | 130.9% | 101.9% | -56.7% | 6.2% | - |
| BVPS (₹) ⓘ | 11.5 | 13.2 | 15 | 17.1 | 19.7 | 22.6 | 30.2 | 43.5 | 46.7 | 51.5 | 60.7 |
| Adj Net Profit ⓘ | 46.5 | 26.1 | 40.1 | 55.7 | 83.9 | 61.9 | 143 | 289 | 125 | 133 | 173 |
| Cash Flow from Ops. ⓘ | 30.2 | -351 | 330 | 67.4 | 136 | 360 | -106 | -11.4 | 227 | -38 | - |
| Debt/CF from Ops. ⓘ | 4 | -1.5 | 0.8 | 5.9 | 3 | 0.3 | -2.9 | -35.2 | 2 | -18.9 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 5.9% | 8.2% | 18.1% | 58.8% | ||||
| Adj EPS ⓘ | 12.4% | 9.6% | -2.4% | 6.2% | ||||
| BVPSⓘ | 18.2% | 21.2% | 19.5% | 10.3% | ||||
| Share Price | 13.5% | 6.1% | -2.9% | -31.5% | ||||
Key Financial Parameters ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 19.9 | 10.2 | 14 | 17 | 22.4 | 14.4 | 26.6 | 38.5 | 13.6 | 13.3 | 15.1 |
| Op. Profit Mgn % ⓘ | 4.3 | 2.4 | 5.9 | 3.9 | 7.3 | 5.6 | 9.6 | 12.7 | 13.1 | 9.2 | 8.8 |
| Net Profit Mgn % ⓘ | 2.5 | 1.7 | 2 | 2.2 | 4 | 4.1 | 7.6 | 10.2 | 6.4 | 4.3 | 5.7 |
| Debt to Equity ⓘ | 0.5 | 2 | 0.9 | 1.2 | 1 | 0.2 | 0.5 | 0.5 | 0.5 | 0.7 | - |
| Working Cap Days ⓘ | 227 | 258 | 168 | 171 | 251 | 266 | 149 | 123 | 162 | 105 | 51 |
| Cash Conv. Cycle ⓘ | -181 | -127 | -59 | -113 | -197 | -207 | -76 | -37 | -39 | -7 | -2 |
Valuation of Southern Petrochem. - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,957 | 1,499 | 1,994 | 2,592 | 2,079 | 1,527 | 1,875 | 2,829 | 1,944 | 3,086 |
| Operating Expenses ⓘ + | 1,918 | 1,651 | 1,883 | 3,055 | 1,966 | 1,457 | 1,699 | 2,475 | 1,694 | 2,805 |
| Operating Profit ⓘ | 39 | -152 | 111 | -463 | 113 | 70 | 176 | 354 | 249 | 281 |
| Operating Profit Margin (%) | 2.0% | -10.1% | 5.6% | -17.9% | 5.4% | 4.6% | 9.4% | 12.5% | 12.8% | 9.1% |
| Other Income ⓘ + | 20 | 219 | 5 | 585 | 10 | 30 | 17 | 21 | 18 | 14 |
| Interest ⓘ | 15 | 11 | 41 | 36 | 34 | 14 | 14 | 31 | 38 | 55 |
| Depreciation ⓘ | 32 | 31 | 40 | 32 | 32 | 38 | 44 | 44 | 38 | 38 |
| Profit Before Tax ⓘ | 31 | 63 | 50 | 66 | 70 | 77 | 174 | 321 | 170 | 235 |
| Tax ⓘ | 0 | 5 | 4 | 3 | 3 | 3 | 10 | 21 | 57 | 79 |
| Profit After Tax | 31 | 57 | 45 | 63 | 67 | 74 | 163 | 301 | 113 | 156 |
| PAT Margin (%) | 1.6% | 3.8% | 2.3% | 2.4% | 3.3% | 4.9% | 8.7% | 10.6% | 5.8% | 5.0% |
| Adjusted EPS (₹) | 1.5 | 2.8 | 2.2 | 3.1 | 3.3 | 3.6 | 8.0 | 14.8 | 5.6 | 7.6 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 6.20% | 10.20% | 27% | 26.20% |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 275 | 299 | 344 | 371 | 435 | 516 | 694 | 986 | 1,076 | 1,199 | |
| Debt + | 130 | 536 | 263 | 366 | 279 | 104 | 302 | 281 | 144 | 527 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 1,160 | 370 | 739 | 1,209 | 1,182 | 949 | 488 | 602 | 61 | 236 | |
| Others Liabilities ⓘ | 124 | 9 | 26 | -15 | 93 | 40 | 106 | 207 | 351 | 327 | |
| Total Liabilities ⓘ | 1,689 | 1,214 | 1,373 | 1,931 | 1,989 | 1,608 | 1,589 | 2,075 | 1,632 | 2,289 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 320 | 261 | 245 | 231 | 352 | 524 | 681 | 656 | 651 | 619 | |
| CWIP ⓘ | 32 | 23 | 35 | 69 | 26 | 18 | 2 | 1 | 34 | 108 | |
| Investments ⓘ | 10 | 66 | 74 | 88 | 98 | 114 | 174 | 192 | 225 | 252 | |
| Inventories | 103 | 229 | 189 | 188 | 135 | 351 | 449 | 221 | 95 | 80 | |
| Trade Receivables | 68 | 92 | 47 | 18 | 9 | 7 | 0 | 10 | 18 | 12 | |
| Cash Equivalents | 35 | 7 | 8 | 77 | 72 | 106 | 6 | 17 | 174 | 50 | |
| Others Assets ⓘ | 1,121 | 535 | 774 | 1,260 | 1,296 | 489 | 278 | 978 | 436 | 1,168 | |
| Total Assets ⓘ | 1,689 | 1,214 | 1,373 | 1,931 | 1,989 | 1,608 | 1,589 | 2,075 | 1,632 | 2,289 | |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 43 | -348 | 330 | 67 | 136 | 361 | -106 | -11 | 227 | -38 |
| Cash Flow From Investing Activity ⓘ + | -13 | -20 | -40 | -101 | -151 | -159 | -156 | -34 | -175 | -145 |
| Cash Flow From Financing Activity ⓘ + | -18 | 360 | -290 | 102 | 6 | -188 | 189 | 57 | 0 | 163 |
| Net Cash Flow ⓘ | 12 | -8 | -0 | 69 | -8 | 14 | -73 | 11 | 53 | -20 |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 12.75 | 20.5 | 14.11 | 17.61 | 16.75 | 15.59 | 27.01 | 35.85 | 10.99 | 13.71 |
| ROCE (%) | 11.29 | 11.71 | 12.56 | 14.75 | 12.93 | 12.47 | 23.26 | 29.58 | 14.23 | 16.82 |
| Asset Turnover Ratio | 1.25 | 1.04 | 1.56 | 1.6 | 1.08 | 0.87 | 1.2 | 1.57 | 1.06 | 1.6 |
| PAT to CFO Conversion(x) | 1.39 | -6.11 | 7.33 | 1.06 | 2.03 | 4.88 | -0.65 | -0.04 | 2.01 | -0.24 |
| Working Capital Days | ||||||||||
| Receivable Days | 9.10 | 19.40 | 12.60 | 4.50 | 2.30 | 1.90 | 0.70 | 0.70 | 2.60 | 1.80 |
| Inventory Days | 23.10 | 40.40 | 37.80 | 26.10 | 27.90 | 56.80 | 76.40 | 42.60 | 29.20 | 10.20 |
| Payable Days | 336.50 | 353.30 | 190.30 | 222.50 | 368.10 | 476.90 | 221 | 97.90 | 92.30 | 23.60 |
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Southern Petrochemical Industries Corporation Ltd FAQs
The current trading price of Southern Petrochem. on 18-Sep-2026 16:59 is ₹68.75.
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 17-Sep-2026 the market cap of Southern Petrochem. stood at ₹1,400 Cr
The latest P/E ratio of Southern Petrochem. as of 17-Sep-2026 is 8.10.
The latest P/B ratio of Southern Petrochem. as of 17-Sep-2026 is 1.13.
The 52-week high of Southern Petrochem. is ₹102.6 and the 52-week low is ₹55.00.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Southern Petrochem. is ₹3,008 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Southern Petrochemical Industries Corporation Ltd is a average quality company.
The key valuation ratios of Southern Petrochemical Industries Corporation Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Southern Petrochemical Industries Corporation Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
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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