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Last Updated: April 2, 2026, 3:42 am
Author: Getaka|Social: XLinkedIn

Southern Petrochemicals Industries Corporation Ltd (SPIC): Intrinsic Value & Share Price Analysis

Fair Value

₹44.88Overvalued by 26.43%vs CMP ₹61.00

P/E (6.2) × ROE (13.8%) × BV (₹63.80) × DY (3.28%)

₹81.51Undervalued by 33.62%vs CMP ₹61.00
MoS: +25.2% (Adequate)Confidence: 56/100 (Moderate)Models: 6 Under, 1 Fair, 2 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹46.8223%Over (-23.2%)
Graham NumberEarnings₹119.2716%Under (+95.5%)
Earnings PowerEarnings₹48.7111%Over (-20.1%)
DCFCash Flow₹107.9314%Under (+76.9%)
Net Asset ValueAssets₹63.807%Fair (+4.6%)
EV/EBITDAEnterprise₹104.389%Under (+71.1%)
Earnings YieldEarnings₹99.107%Under (+62.5%)
ROCE CapitalReturns₹80.547%Under (+32%)
Revenue MultipleRevenue₹75.725%Under (+24.1%)
Consensus (9 models)₹81.51100%Undervalued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 4.3%

*Investments are subject to market risks

Investment Snapshot

72
Southern Petrochemicals Industries Corporation Ltd (SPIC) scores 72/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health73/100 · Strong
ROCE 16.9% GoodROE 13.8% GoodD/E 0.20 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.05% (6mo) Slight increasePromoter holding at 53.4% Stable
Earnings Quality50/100 · Moderate
OPM stable around 11% Steady
Quarterly Momentum90/100 · Strong
Revenue (4Q): +27% YoY AcceleratingProfit (4Q): +79% YoY Strong
Industry Rank90/100 · Strong
P/E 6.2 vs industry 192.6 Cheaper than peersROCE 16.9% vs industry 13.0% Above peersROE 13.8% vs industry 10.6% Above peers3Y sales CAGR: 18% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:42 am

Market Cap 1,243 Cr.
Current Price 61.0
Intrinsic Value₹81.51
High / Low 128/55.0
Stock P/E6.17
Book Value 63.8
Dividend Yield3.28 %
ROCE16.9 %
ROE13.8 %
Face Value 10.0
PEG Ratio1.43

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Southern Petrochemicals Industries Corporation Ltd (SPIC)

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Southern Petrochemicals Industries Corporation Ltd (SPIC) 1,243 Cr. 61.0 128/55.06.17 63.83.28 %16.9 %13.8 % 10.0
Madras Fertilizers Ltd 938 Cr. 58.2 107/52.2132 1.530.00 %10.8 %% 10.0
Zuari Agro Chemicals Ltd 826 Cr. 196 395/1662.49 6020.00 %12.7 %9.06 % 10.0
Aries Agro Ltd 443 Cr. 341 460/23710.2 2460.35 %18.4 %12.3 % 10.0
Nagarjuna Fertilizers & Chemicals Ltd 219 Cr. 3.67 6.54/3.12 15.70.00 %%% 1.00
Industry Average9,736.35 Cr342.44192.60185.721.19%13.03%10.58%6.96

All Competitor Stocks of Southern Petrochemicals Industries Corporation Ltd (SPIC)

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 699672569744506125754760818754781817774
Expenses 60162048765945098656693739718687740689
Operating Profit 97518285562798677937937784
OPM % 14%8%14%11%11%22%13%9%10%5%12%9%11%
Other Income 147111214-361461214293712
Interest 11758821121121121275
Depreciation 111010109991099101410
Profit before tax 9041788052-40915361301019282
Tax % 1%39%34%34%36%-39%31%33%37%35%34%34%34%
Net Profit 9025515333-2463353819676154
EPS in Rs 4.401.252.522.581.63-1.193.071.731.890.963.283.012.66

Last Updated: March 3, 2026, 2:36 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 10:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,5742,2371,9311,4991,9942,5922,0791,5271,8752,8291,9443,0863,126
Expenses 1,6622,1741,8911,4451,8832,4921,9661,4561,6992,4741,6902,8022,835
Operating Profit -8863405411110011371176354254284291
OPM % -6%3%2%4%6%4%5%5%9%13%13%9%9%
Other Income 215113850203424585641-84492
Interest 31321511413634141431385535
Depreciation 60343231403232384444383843
Profit before tax 378316350667077174321170235305
Tax % -9%-37%0%9%9%4%4%4%6%6%34%34%
Net Profit 3910315745636774163301113156201
EPS in Rs 1.910.511.522.812.233.093.313.648.0214.775.557.649.91
Dividend Payout % 0%0%0%0%0%0%0%0%6%10%27%26%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-74.36%210.00%83.87%-21.05%40.00%6.35%10.45%120.27%84.66%-62.46%38.05%
Change in YoY Net Profit Growth (%)0.00%284.36%-126.13%-104.92%61.05%-33.65%4.10%109.82%-35.61%-147.12%100.51%

Southern Petrochemicals Industries Corporation Ltd (SPIC) has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:3%
5 Years:8%
3 Years:18%
TTM:46%
Compounded Profit Growth
10 Years:31%
5 Years:18%
3 Years:-2%
TTM:-7%
Stock Price CAGR
10 Years:23%
5 Years:41%
3 Years:23%
1 Year:30%
Return on Equity
10 Years:19%
5 Years:21%
3 Years:20%
Last Year:14%

Last Updated: September 5, 2025, 1:36 pm

Balance Sheet

Last Updated: December 4, 2025, 2:01 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 204204204204204204204204204204204204204
Reserves 344273961411672313124907828729951,096
Borrowings 503149143536263400408104305401471722449
Other Liabilities 7971,0341,2284158671,2641,2511,100693816218366488
Total Liabilities 1,5371,4291,6481,2501,4752,0352,0931,7201,6922,2021,7642,2872,236
Fixed Assets 360344324263247233353525682657652620607
CWIP 26332723356926182134108228
Investments 11101066748898114174192225252295
Other Assets 1,1401,0421,2868981,1191,6451,6161,0628341,3528531,3071,106
Total Assets 1,5371,4291,6481,2501,4752,0352,0931,7201,6922,2021,7642,2872,236

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -32339443-34833067136361-106-11227-38
Cash from Investing Activity + 6-6-13-20-40-101-151-159-156-34-175-145
Cash from Financing Activity + 292-394-18360-2901026-188189570163
Net Cash Flow -25-612-8-069-814-731153-20
Free Cash Flow -33038029-3672881-15178-267-41154-291
CFO/OP 368%626%110%-635%298%63%124%508%-60%9%112%-5%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-591.00-86.00-103.00-482.00-152.00-300.00-295.00-33.00-129.00-47.00-217.00-438.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 75132292220131
Inventory Days 833933106654342160138402713
Days Payable 2592483731712542763644251501081737
Cash Conversion Cycle -170-204-327-43-180-231-321-263-12-6713-23
Working Capital Days -28-26-71-503-13-48-91-57-0-47-9
ROCE %-3%7%7%7%12%15%13%13%23%30%18%17%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 53.38%53.38%53.38%53.38%53.38%53.38%53.38%53.38%53.38%53.38%53.38%53.38%
FIIs 0.28%0.21%0.42%0.50%0.38%0.34%0.65%0.84%4.87%6.53%6.09%4.92%
DIIs 2.37%2.37%2.09%1.68%1.68%1.69%1.17%1.17%0.30%0.29%0.14%0.17%
Public 43.97%44.04%44.10%44.44%44.56%44.59%44.80%44.61%41.45%39.80%40.39%41.52%
No. of Shareholders 99,1141,00,1441,03,3201,05,8991,24,4301,25,0291,24,4891,27,1391,21,7541,16,1241,11,8451,12,789

Shareholding Pattern Chart

No. of Shareholders

Southern Petrochemicals Industries Corporation Ltd (SPIC): Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 7.645.5514.838.753.98
Diluted EPS (Rs.) 7.645.5514.838.753.98
Cash EPS (Rs.) 7.906.1015.868.244.07
Book Value[Excl.RevalReserv]/Share (Rs.) 58.8752.8248.3034.0825.33
Book Value[Incl.RevalReserv]/Share (Rs.) 58.8752.8248.4134.0825.33
Revenue From Operations / Share (Rs.) 151.5695.45138.9192.0774.98
PBDIT / Share (Rs.) 14.5013.1518.399.444.91
PBIT / Share (Rs.) 12.6511.2716.247.263.03
PBT / Share (Rs.) 9.957.0214.726.562.34
Net Profit / Share (Rs.) 6.054.2213.716.052.19
NP After MI And SOA / Share (Rs.) 7.645.5514.778.023.64
PBDIT Margin (%) 9.5613.7713.2310.256.54
PBIT Margin (%) 8.3411.8111.697.884.04
PBT Margin (%) 6.567.3510.597.123.11
Net Profit Margin (%) 3.994.429.876.572.92
NP After MI And SOA Margin (%) 5.045.8110.638.714.85
Return on Networth / Equity (%) 12.9810.5130.5723.5314.36
Return on Capital Employeed (%) 18.6420.1229.4319.3311.26
Return On Assets (%) 6.816.4113.659.654.32
Long Term Debt / Equity (X) 0.110.020.100.050.00
Total Debt / Equity (X) 0.590.430.400.430.20
Asset Turnover Ratio (%) 1.520.981.451.130.81
Current Ratio (X) 1.000.921.040.760.75
Quick Ratio (X) 0.910.770.830.280.45
Inventory Turnover Ratio (X) 35.178.095.653.023.45
Dividend Payout Ratio (NP) (%) 19.6327.023.380.000.00
Dividend Payout Ratio (CP) (%) 15.8020.192.950.000.00
Earning Retention Ratio (%) 80.3772.9896.620.000.00
Cash Earning Retention Ratio (%) 84.2079.8197.050.000.00
Interest Coverage Ratio (X) 5.377.0512.1113.557.06
Interest Coverage Ratio (Post Tax) (X) 3.244.5410.039.694.15
Enterprise Value (Cr.) 2313.681721.761533.041705.07590.78
EV / Net Operating Revenue (X) 0.740.880.540.900.38
EV / EBITDA (X) 7.836.434.098.875.91
MarketCap / Net Operating Revenue (X) 0.530.730.400.770.39
Retention Ratios (%) 80.3672.9796.610.000.00
Price / BV (X) 1.371.331.172.101.15
Price / Net Operating Revenue (X) 0.530.730.400.770.39
EarningsYield 0.090.070.260.110.12

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Southern Petrochemicals Industries Corporation Ltd. is a Public Limited Listed company incorporated on 18/12/1969 and has its registered office in the State of Tamil Nadu, India. Company's Corporate Identification Number(CIN) is L11101TN1969PLC005778 and registration number is 005778. Currently Company is involved in the business activities of Manufacture of urea and other organic fertilizers. Company's Total Operating Revenue is Rs. 3086.33 Cr. and Equity Capital is Rs. 203.64 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
FertilisersSPIC House, 88 Mount Road, Chennai (Madras) Tamil Nadu 600032Contact not found
Management
NamePosition Held
Mr. Ashwin C MuthiahChairman
Mr. E BaluWhole Time Director
Mr. Debendranath SarangiIndependent Director
Mr. S RadhakrishnanIndependent Director
Mr. T K ArunIndependent Director
Mrs. Rita ChandrasekarIndependent Director
Mr. B S PurshothamIndependent Director
Ms. Latha RamanathanIndependent Director
Ms. Devaki Ashwin MuthiahDirector
Mr. Sandeep NanduriDirector

FAQ

What is the intrinsic value of Southern Petrochemicals Industries Corporation Ltd (SPIC) and is it undervalued?

As of 14 April 2026, Southern Petrochemicals Industries Corporation Ltd (SPIC)'s intrinsic value is ₹81.51, which is 33.62% higher than the current market price of ₹61.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (13.8 %), book value (₹63.8), dividend yield (3.28 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Southern Petrochemicals Industries Corporation Ltd (SPIC)?

Southern Petrochemicals Industries Corporation Ltd (SPIC) is trading at ₹61.00 as of 14 April 2026, with a FY2026-2027 high of ₹128 and low of ₹55.0. The stock is currently near its 52-week low. Market cap stands at ₹1,243 Cr..

How does Southern Petrochemicals Industries Corporation Ltd (SPIC)'s P/E ratio compare to its industry?

Southern Petrochemicals Industries Corporation Ltd (SPIC) has a P/E ratio of 6.17, which is below the industry average of 192.60. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Southern Petrochemicals Industries Corporation Ltd (SPIC) financially healthy?

Key indicators for Southern Petrochemicals Industries Corporation Ltd (SPIC): ROCE of 16.9 % indicates efficient capital utilization. Dividend yield is 3.28 %.

Is Southern Petrochemicals Industries Corporation Ltd (SPIC) profitable and how is the profit trend?

Southern Petrochemicals Industries Corporation Ltd (SPIC) reported a net profit of ₹156 Cr in Mar 2025 on revenue of ₹3,086 Cr. Compared to ₹163 Cr in Mar 2022, the net profit shows a declining trend.

Does Southern Petrochemicals Industries Corporation Ltd (SPIC) pay dividends?

Southern Petrochemicals Industries Corporation Ltd (SPIC) has a dividend yield of 3.28 % at the current price of ₹61.00. This is a relatively attractive yield for income-seeking investors.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Southern Petrochemicals Industries Corporation Ltd (SPIC). Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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