Spic Ltd
NSE: SPIC · Fertilizers · sector
₹55.01NSE close 2026-10-26
Key numbers
Market cap₹1,120 cr
Price₹55.01
52w high / low₹94 / ₹55
P/E5.5xSector median 7.9x
P/B0.8xSector median 0.9x
Book value₹67.3
Dividend yield3.56%Sector median 1.02%
ROE16.0%Sector median 11.1%
ROCE12.8%Sector median 9.9%
OPM8.8%Sector median 8.8%
Debt / equity0.51xSector median 0.32x
EV/EBITDA6.4xSector median 6.8x
Interest cover10.8x
Current ratio0.93x
Sales growth 3y+1.5%Sector median -0.8%
Profit growth 3y-11.1%Sector median +1.5%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 20 companies in Fertilizers (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹125 cr vs borrowings ₹698 cr (FY26): borrowings are higher by ₹572 cr.
- Operating profit covered interest 10.8x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 3 of the last 5 years (FY25, FY23, FY22).
- Revenue was higher than a year earlier in 2 of the last 4 quarters.
- Other income was 21% of net profit in the last 12 months.
- Dividend paid in 3 of the last 5 financial years.
- Price ₹55.01 on 2026-10-26: -41.4% from the 52-week high, 0.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹118.49 · low ₹55.01
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 760 | 818 | 754 | 781 | 817 | 774 | 584 | 849 |
| EBITDA | 67 | 79 | 37 | 93 | 77 | 84 | 45 | 59 |
| OPM % | 8.8% | 9.7% | 4.9% | 12.0% | 9.4% | 10.9% | 7.7% | 6.9% |
| Other income | 2 | 5 | 5 | 18 | 26 | 4 | 12 | 1 |
| Net profit | 35 | 38 | 19 | 67 | 61 | 54 | 29 | 60 |
| EPS (₹) | 1.73 | 1.89 | 0.96 | 3.28 | 3.01 | 2.66 | 1.45 | 2.96 |
| Revenue YoY | +7.6% | -5.4% | -22.6% | +8.7% | ||||
| Profit YoY | +74.1% | +40.4% | +51.5% | -9.8% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 1,875 | 2,829 | 1,944 | 3,086 | 2,956 | 3,024 |
| EBITDA | 176 | 354 | 201 | 281 | 300 | 265 |
| Net profit | 163 | 301 | 113 | 156 | 211 | 205 |
| EPS (₹) | 8.02 | 14.83 | 5.55 | 7.64 | 10.39 | 10.08 |
| Revenue growth | +50.9% | -31.3% | +58.8% | -4.2% | -2.8% | |
| Profit growth | +84.1% | -62.4% | +37.6% | +35.9% | +28.2% | |
| Dividend / share (₹) | – | – | 1.50 | 1.50 | 2.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +1.5% | +14.1% | -2.8% |
| Net profit | -11.1% | +23.3% | +28.2% |
| EPS | -11.2% | +21.2% | – |
| Share price | – | -15.6% (2y) | -36.5% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 986 | 1,076 | 1,199 | 1,370 |
| Borrowings | – | 398 | 464 | 716 | 698 |
| Cash & equivalents | – | 42 | 205 | 81 | 125 |
| Total assets | – | 2,202 | 1,763 | 2,285 | 2,498 |
| Fixed assets | – | 654 | 645 | 613 | 610 |
| Capital work in progress | – | 1 | 34 | 108 | 448 |
| Investments | – | 3 | 5 | 7 | 18 |
| Receivables | – | 10 | 18 | 12 | 14 |
| Inventory | – | 220 | 95 | 80 | 94 |
| Payables | – | 602 | 61 | 236 | 258 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | -113 | -31 | 227 | -38 | 395 |
| Cash from investing | -149 | -16 | -175 | -145 | -262 |
| Cash from financing | 189 | 58 | 0 | 163 | -89 |
| Capex | 149 | 29 | 73 | 253 | 320 |
| Free cash flow | -262 | -60 | 154 | -291 | 76 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 30.5% | 10.5% | 13.0% | 15.4% |
| ROCE % | – | 23.9% | 11.8% | 13.5% | 15.2% |
| Debtor days | – | 1 | 3 | 1 | 2 |
| Inventory days | – | 40 | 27 | 13 | 16 |
| Payable days | – | 108 | 17 | 37 | 44 |
| Cash conversion cycle (days) | – | -67 | 13 | -23 | -26 |
| Working capital days | – | 5 | -6 | 0 | -7 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 53.38% |
| FIIs | 4.81% |
| DIIs | 0.02% |
| of which Mutual funds | 0.01% |
| of which Insurance | 0.00% |
| Government | 0.00% |
| Public (non-institutions) | 41.79% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 53.38% | 53.38% | 53.38% | 53.38% | 53.38% | 53.38% | 53.38% | 53.38% |
| Promoter group | % |
|---|---|
| AMI Holdings Private Limited | 19.95% |
| Lotus Fertilizers Private Limited | 14.98% |
| Ficon Holdings Ltd | 8.39% |
| Tamilnadu Industrial Development Corporation Ltd | 4.73% |
| Sicagen India Limited | 3.43% |
| Ranford Investments Ltd | 1.02% |
| Darnolly Investments Ltd | 0.71% |
| South India Travels PVT Ltd | 0.12% |
| Ashwin C Muthiah | 0.02% |
| South India Investments and Associates | 0.02% |
| ACM Educational Foundation | 0.00% |
| South India House Estates and Properties Ltd | 0.00% |
| Public holders above 1% | % |
|---|---|
| Ares Diversified | 4.18% |
| Finquest Securities Private Limited - Proprietary Account | 2.41% |
| Hitesh Ramji Javeri | 1.49% |
1,13,044 shareholders. Pledged: 0.00% of promoter shares.
Peers in Fertilizers
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| COROMANDEL | ₹51,053 cr | 27.8x | 4.1x | 15.5% | 21.0% | 9.6% | +2.0% | 1.04% |
| FACT | ₹43,655 cr | – | 32.3x | -7.8% | 2.6% | 0.3% | -2.6% | 0.06% |
| CHAMBLFERT | ₹14,447 cr | 7.5x | 1.4x | 20.1% | 22.0% | 13.8% | -9.2% | 2.77% |
| PARADEEP | ₹14,315 cr | 13.3x | 2.1x | 19.8% | 14.5% | 9.7% | +17.8% | 0.69% |
| GSFC | ₹5,394 cr | 7.8x | 0.4x | 5.7% | 7.2% | 6.7% | -1.3% | 3.69% |
| RCF | ₹5,215 cr | 11.7x | 1.0x | 9.1% | 10.3% | 5.6% | -4.8% | 2.46% |
| NFL | ₹2,803 cr | 7.7x | 1.0x | 13.1% | 9.6% | 4.5% | -10.1% | 2.73% |
| SPIC | ₹1,120 cr | 5.5x | 0.8x | 16.0% | 12.8% | 8.8% | +1.5% | 3.56% |
| MADRASFERT | ₹827 cr | 11.6x | 9.0x | 237.8% | 20.4% | 3.7% | -12.6% | – |
| ZUARI | ₹802 cr | 0.8x | 0.4x | 47.6% | 37.2% | 40.5% | -11.1% | 1.02% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-09-21 | Dividend | Dividend - Rs 2 Per Share |
| 2025-09-16 | Dividend | Dividend - Rs 2 Per Share |
| 2024-09-12 | Dividend | Dividend - Rs 1.50 Per Share |
| 2024-09-12 | Other | Annual General Meeting |
| 2023-09-20 | Dividend | Annual General Meeting/Dividend - Rs 1.50 Per Share |
| 2021-09-22 | Other | Annual General Meeting |
| 2020-09-10 | Other | Annual General Meeting |
| 2019-07-31 | Other | Annual General Meeting |
| 2018-07-30 | Other | Annual General Meeting |
| 2017-07-17 | Other | Annual General Meeting |
| 2016-09-08 | Other | Annual General Meeting (Book Closure End Date Revised) |
| 2015-09-04 | Other | Annual General Meeting |
| 2014-08-22 | Other | Annual General Meeting |
| 2013-08-14 | Other | Annual General Meeting |
| 2012-09-14 | Other | Annual General Meeting |
| 2011-11-01 | Other | Annual General Meeting |
| 2010-09-03 | Other | Annual General Meeting |
| 2009-08-28 | Other | Annual General Meeting |
| 2008-09-09 | Other | Annual General Meeting |
| 2007-03-23 | Other | Agm |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing: Manufacture of Neem coated Urea & Other Organic Fertilizers
| Sector | Commodities |
| Industry | Fertilizers |
| Sub-industry | Fertilizers |
| Symbol | SPIC |
| BSE code | 590030 |
| ISIN | INE147A01011 |
| Face value | ₹10.0 |
| Incorporated | 1969-12-18 |
| Website | www.spic.in |
| Plants (India / abroad) | 1 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.