SPIC

₹77 0.4 | 0.5%

WEBSITE BSE:590030 NSE : SOUTH PET(PS 18 May, 12:50

Market Cap ₹1568 Cr.

Stock P/E 13.9

P/B 1.5

Current Price ₹77

Book Value ₹ 52.8

Face Value 10

52W High ₹107.5

Dividend Yield 1.95%

52W Low ₹ 62

Edit Ratio

SPIC Research see more...

Overview Inc. Year: 1969Industry: Fertilizers

Southern Petrochemical Industries Corporation Ltd is engaged in manufacturing and selling of urea, a nitrogenous chemical fertilizer. It's segments are Petrochemicals, Agro inputs,and Others. The Agro inputs phase includes fertilizers. The Petrochemicals phase consists of Polyester Filament Yarn and Purified Terepthalic Acid. The Others phase consists of tissue lifestyle, seeds, chemical substances and power. The Company's geographical segments consist of Sales within India, which includes sales to clients located inside India, and Sales out of doors India, which includes income to customers positioned outdoor India. Its products encompass Chemical Fertilizers, Water Soluble Fertilizers, Organic Fertilizers, Micro Nutrients and Plant Growth Regulators. The Company also gives Industrial Products, such as SPIC Gypsum, SPIC ALF-ninety six (Aluminium Fluoride) and SPIC Silica. The Company is engaged in dealing with, packaging, transporting and sale of imported fertilizers at Karaikal and Tuticorin Ports.

SPIC Share Price

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Peer Comparison

SPIC Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	492	268	751	708	699	672	569	744	506	125
Other Income	5	10	2	4	9	5	2	4	13	8
Total Income	498	278	753	712	708	676	571	748	519	132
Total Expenditure	429	274	668	586	601	620	487	659	450	98
Operating Profit	69	4	85	126	107	56	84	89	69	34
Interest	2	1	7	7	11	7	5	8	13	21
Depreciation	15	2	12	11	11	10	10	10	9	9
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	-49
Profit Before Tax	51	1	67	109	85	39	69	71	47	-44
Provision for Tax	3	2	2	2	1	16	26	27	19	-15
Profit After Tax	49	-1	65	107	84	23	43	44	28	-29
Adjustments	11	6	7	7	5	3	8	9	5	5
Profit After Adjustments	60	5	72	114	90	25	51	53	33	-24
Adjusted Earnings Per Share	2.9	0.3	3.5	5.6	4.4	1.3	2.5	2.6	1.6	-1.2

SPIC Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	2367	1587	2255	1957	1499	1994	2592	2079	1527	1875	2829	1944
Other Income	29	13	14	20	219	5	585	10	30	17	21	27
Total Income	2397	1600	2269	1977	1718	1999	3177	2090	1557	1892	2849	1970
Total Expenditure	2343	1536	2195	1918	1651	1883	3055	1966	1457	1699	2475	1694
Operating Profit	53	64	74	59	68	116	121	123	100	192	374	276
Interest	55	31	32	15	11	41	36	34	14	14	31	47
Depreciation	62	60	34	32	31	40	32	32	38	44	44	38
Exceptional Income / Expenses	1161	63	0	19	29	2	0	0	0	0	0	-49
Profit Before Tax	1097	37	8	31	55	37	53	57	77	174	321	143
Provision for Tax	-5	-3	-3	0	5	4	3	3	3	10	21	57
Profit After Tax	1102	40	12	31	49	33	50	54	74	163	301	86
Adjustments	-2	-1	-1	0	8	12	13	13	0	0	0	27
Profit After Adjustments	1100	39	10	31	57	45	63	67	74	163	301	113
Adjusted Earnings Per Share	54.2	1.9	0.5	1.5	2.8	2.2	3.1	3.3	3.6	8	14.8	5.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	51%	11%	7%	2%
Operating Profit CAGR	95%	45%	26%	22%
PAT CAGR	85%	77%	56%	-12%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	9%	21%	27%	18%
ROE Average	36%	26%	21%	16%
ROCE Average	30%	22%	18%	41%

SPIC Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	223	250	258	289	299	344	371	435	516	694	986
Minority's Interest	38	0	0	0	0	0	0	0	0	0	0
Borrowings	172	60	2	1	34	163	129	0	0	37	101
Other Non-Current Liabilities	177	80	78	72	-9	-73	-75	-74	-72	-69	-51
Total Current Liabilities	397	1189	1132	1327	890	938	1507	1628	1164	927	1113
Total Liabilities	1007	1579	1470	1689	1214	1373	1931	1989	1608	1589	2150
Fixed Assets	587	360	344	320	261	245	231	352	524	681	656
Other Non-Current Assets	121	122	131	382	262	164	208	209	203	244	342
Total Current Assets	299	1097	995	988	691	963	1492	1428	881	665	1152
Total Assets	1007	1579	1470	1689	1214	1373	1931	1989	1608	1589	2150

SPIC Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	17	49	24	17	11	4	3	72	64	78	5
Cash Flow from Operating Activities	101	-323	394	43	-348	330	67	136	361	-106	-31
Cash Flow from Investing Activities	8	17	-6	-13	-20	-40	-101	-151	-159	-156	-16
Cash Flow from Financing Activities	-78	292	-394	-18	360	-290	102	6	-188	189	58
Net Cash Inflow / Outflow	32	-14	-6	12	-8	-0	69	-8	14	-73	11
Closing Cash & Cash Equivalent	49	24	17	29	4	3	72	64	78	5	16

SPIC Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	54.18	1.91	0.51	1.52	2.81	2.23	3.09	3.31	3.64	8.02	14.77
CEPS(Rs)	57.14	4.89	2.23	3.11	3.94	3.59	4.05	4.25	5.52	10.2	16.91
DPS(Rs)	0	0	0	0	0	0	0	0	0	0.5	1.5
Book NAV/Share(Rs)	8.89	10.79	11.18	12.7	14.7	16.91	18.21	21.35	25.33	34.08	48.41
Core EBITDA Margin(%)	0.99	3.15	2.64	1.96	-10.08	5.49	-17.57	5.34	4.52	9.19	12.32
EBIT Margin(%)	48.1	4.2	1.76	2.31	4.36	3.87	3.38	4.32	5.85	9.83	12.27
Pre Tax Margin(%)	45.79	2.27	0.37	1.57	3.65	1.84	2.02	2.7	4.94	9.09	11.19
PAT Margin (%)	45.99	2.47	0.51	1.57	3.29	1.63	1.91	2.57	4.75	8.55	10.47
Cash Profit Margin (%)	48.57	6.19	1.99	3.21	5.34	3.62	3.13	4.1	7.2	10.87	12
ROA(%)	103.8	3.08	0.76	1.96	3.4	2.55	3.05	2.77	4.12	10.22	16.08
ROE(%)	0	19.85	5.15	12.75	17.71	10.23	14.09	13.48	15.59	27.01	35.81
ROCE(%)	310.76	11.46	7.09	11.29	10.47	10.83	12.92	11.29	12.47	23.26	29.59
Receivable days	5.2	7.26	4.71	9.11	19.39	12.56	4.5	2.3	1.89	0.73	0.67
Inventory Days	17.89	36.15	28.61	23.06	40.37	37.79	26.06	27.92	56.83	76.35	42.56
Payable days	69.07	173.94	211.65	336.53	353.26	190.26	222.48	368.1	476.92	221.01	97.88
PER(x)	0.23	6.51	35.64	12.8	8.37	15.14	8.23	3.58	8.04	8.93	3.83
Price/Book(x)	1.43	1.15	1.62	1.53	1.6	2	1.4	0.56	1.15	2.1	1.17
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0.7	2.65
EV/Net Sales(x)	0.19	0.46	0.22	0.26	0.67	0.47	0.32	0.28	0.39	0.94	0.54
EV/Core EBITDA(x)	8.54	11.36	6.71	8.56	14.86	8.14	6.95	4.68	5.94	9.12	4.09
Net Sales Growth(%)	-13.61	-32.96	42.1	-13.23	-23.38	32.99	30.01	-19.78	-26.56	22.78	50.88
EBIT Growth(%)	1153.45	-94.13	-40.87	13.93	43.66	19.29	13.97	2.37	0.06	106.05	87.44
PAT Growth(%)	5125.94	-96.39	-71.01	169.1	59.32	-33.34	52.93	7.79	36.4	120.51	84.1
EPS Growth(%)	4073.13	-96.47	-73.39	199.16	84.35	-20.6	38.74	7.13	9.77	120.51	84.1
Debt/Equity(x)	1.22	2.11	0.57	0.48	1.79	0.76	1.08	0.94	0.2	0.43	0.4
Current Ratio(x)	0.75	0.92	0.88	0.74	0.78	1.03	0.99	0.88	0.76	0.72	1.03
Quick Ratio(x)	0.48	0.75	0.75	0.67	0.52	0.83	0.87	0.79	0.46	0.23	0.84
Interest Cover(x)	20.86	2.18	1.27	3.13	6.2	1.91	2.5	2.67	6.44	13.24	11.39
Total Debt/Mcap(x)	0.91	1.93	0.37	0.33	1.12	0.38	0.77	1.69	0.17	0.21	0.35

SPIC Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	48.88	48.88	48.88	48.88	48.98	48.98	48.98	48.98	48.98	48.98
FII	0.45	0.87	0.58	0.41	0.12	0.25	0.18	0.39	0.45	0.35
DII	2.29	2.29	2.26	2.18	2.19	2.18	2.18	1.92	1.54	1.54
Public	40.14	39.71	40.03	40.28	40.46	40.34	40.41	40.46	40.78	40.88
Others	8.25	8.25	8.25	8.25	8.25	8.25	8.25	8.25	8.25	8.25
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	9.95	9.95	9.95	9.95	9.97	9.97	9.97	9.97	9.97	9.97
FII	0.09	0.18	0.12	0.08	0.03	0.05	0.04	0.08	0.09	0.07
DII	0.47	0.47	0.46	0.44	0.45	0.44	0.44	0.39	0.31	0.31
Public	8.17	8.09	8.15	8.2	8.24	8.22	8.23	8.24	8.3	8.33
Others	1.68	1.68	1.68	1.68	1.68	1.68	1.68	1.68	1.68	1.68
Total	20.36	20.36	20.36	20.36	20.36	20.36	20.36	20.36	20.36	20.36

Pros

Company has delivered good profit growth of 55% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 26%
Debtor days have improved from 221.01 to 97.88days.
Company is almost debt free.

Cons

Promoter holding is low: 48.98%.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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SPIC Research see more...

Overview Inc. Year: 1969Industry: Fertilizers

SPIC Share Price

Alert Data

Quarterly Price

Peer Comparison

SPIC Quarterly Results

SPIC Profit & Loss

Growth Rates

SPIC Balance Sheet

SPIC Cash Flow

SPIC Ratios

SPIC Shareholding Pattern

SPIC News

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