Southern Petrochemical Industries Corporation Limited (SPIC) AI Stock Analysis

• Market Cap: ₹18.23B
• Dividend Yield: 2.23%
• Average Volume (3M): 97.68K
• Price to Earnings (P/E): 11.4
• Beta (1Y): 1.25
• Revenue Growth: 46.18%
• EPS Growth: 28.68%
• Country: IN
• Employees: 649
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Agricultural Inputs
• EPS (TTM): 3.28
• Shares Outstanding: 203,640,340
• 10 Day Avg. Volume: 59,166
• 30 Day Avg. Volume: 97,679
• PEG Ratio: 0.29
• Price to Book (P/B): 1.42
• Price to Sales (P/S): 0.56
• P/FCF Ratio: -5.88
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹100.00
• Price Target Upside: 11.71% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 60 Neutral
• Price Target: ₹100.00 ▲(11.71% Upside)

The overall stock score of 60 reflects strong financial performance with revenue growth and profitability improvements, tempered by concerns over cash flow and debt levels. Technical indicators suggest weak momentum, while valuation metrics indicate the stock is fairly priced with a decent dividend yield.

Southern Petrochemical Industries Corporation Limited Business Overview & Revenue Model

Company Description

Southern Petrochemical Industries Corporation Limited manufactures and sells fertilizers in India and internationally. The company operates through Agro inputs - Urea Operations and Others - Agri Business segments. It provides chemical fertilizers, such as urea, di-ammonium phosphate, ammonium phosphate sulphate, super phosphate, and ammonium chloride; secondary nutrients, water soluble fertilizers, organic and organic liquid fertilizers, micro nutrients, and bio pesticides and fertilizers; and industrial products, including gypsum, aluminum fluoride, and silica. The company also engages in the tissue culture businesses. In addition, it offers agricultural services, including soil management, training center, journal, agri clinic, and SMS services for farmers. Southern Petrochemical Industries Corporation Limited was incorporated in 1969 and is headquartered in Chennai, India.

How the Company Makes Money

SPIC generates revenue through the sale of its primary products, which include fertilizers like urea and ammonia, as well as various petrochemical products. The company benefits from a vertically integrated business model, allowing it to control costs and optimize production efficiency. Key revenue streams include domestic sales to agricultural sectors, where its fertilizers are essential for crop production, and exports to international markets. Additionally, SPIC has established partnerships with various agricultural cooperatives and private distributors to enhance its market reach. Factors contributing to its earnings include fluctuating commodity prices, government subsidies for fertilizer production, and increasing global demand for petrochemicals.

Southern Petrochemical Industries Corporation Limited Financial Statement Overview

Summary

The company exhibits strong revenue growth and improved profitability, indicating a positive trajectory. However, volatility in gross profit and rising debt levels are concerns. Negative free cash flow suggests potential liquidity issues, necessitating attention to stabilize cost structures and optimize cash flow management.

Income Statement

The company has shown robust revenue growth over the years, with a notable increase from 2024 to 2025. Gross and net profit margins have improved significantly from negative values in earlier years to positive margins, indicating enhanced profitability. The EBIT and EBITDA margins are also healthy, showcasing efficient operational management. However, the large fluctuations in gross profit over the years pose a potential risk, reflecting volatility in cost management or revenue recognition.

Balance Sheet

The balance sheet highlights a stable financial structure with a consistent increase in stockholders' equity, reflecting a solid equity base. The debt-to-equity ratio has increased slightly, indicating a moderate reliance on debt financing but still within a manageable range. The equity ratio shows a steady proportion of assets financed by equity, suggesting a balanced approach to financing. Nevertheless, the increase in total debt warrants caution, given the potential impact on financial stability if leverage continues to rise.

Cash Flow

Cash flow analysis indicates variability in free cash flow with negative values in recent years, highlighting challenges in cash generation. The operating cash flow to net income ratio has deteriorated, suggesting issues in converting profits to cash. Despite these challenges, the company has maintained a positive financing cash flow, which has supported operations. The negative free cash flow to net income ratio is a concern and suggests potential liquidity constraints if not addressed.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	30.97B	30.72B	19.44B	5.23B	3.79B	3.27B
Gross Profit	7.82B	7.67B	4.51B	-17.44B	-11.74B	-9.85B
EBITDA	3.27B	3.28B	2.19B	3.96B	1.90B	1.28B
Net Income	1.60B	1.56B	1.13B	3.01B	1.63B	740.75M
Balance Sheet
Total Assets	0.00	22.85B	17.63B	22.02B	16.92B	17.12B
Cash, Cash Equivalents and Short-Term Investments	807.50M	807.50M	2.05B	419.00M	330.12M	1.06B
Total Debt	0.00	7.22B	4.71B	4.01B	3.05B	1.04B
Total Liabilities	-11.99B	10.86B	6.87B	12.16B	9.98B	11.96B
Stockholders Equity	11.99B	11.99B	10.76B	9.86B	6.94B	5.16B
Cash Flow
Free Cash Flow	0.00	-2.91B	1.54B	-601.09M	-2.67B	1.78B
Operating Cash Flow	0.00	-379.50M	2.27B	-306.62M	-1.06B	3.61B
Investing Cash Flow	0.00	-1.45B	-1.75B	-163.37M	-1.56B	-1.59B
Financing Cash Flow	0.00	1.63B	4.30M	583.91M	1.89B	-1.88B

Southern Petrochemical Industries Corporation Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 89.52
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SPIC, the sentiment is Negative. The current price of 89.52 is below the 20-day moving average (MA) of 93.73, below the 50-day MA of 99.18, and above the 200-day MA of 85.39, indicating a neutral trend. The MACD of -2.80 indicates Positive momentum. The RSI at 37.23 is Neutral, neither overbought nor oversold. The STOCH value of 33.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SPIC.

Southern Petrochemical Industries Corporation Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JAYAGROGN	70 Neutral	₹10.95B	12.29	―	1.06%	7.47%	-3.69%
KHAICHEM	69 Neutral	₹11.97B	30.30	―	0.41%	64.35%	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MANAKSIA	61 Neutral	₹4.32B	7.98	―	10.28%	40.00%	-23.59%
SPIC	60 Neutral	₹18.23B	11.40	―	2.23%	46.18%	28.68%
MADRASFERT	52 Neutral	₹13.28B	19.22	―	―	13.28%	-15.68%