Southern Petrochemicals Industries Announces Q Results and Key Board Appointments
Southern Petrochemical Industries Corporation Limited (SPIC) released its unaudited financial results for the quarter ended June 30, 2026. The company also announced several key updates regarding its board composition, including two new appointments and a re-appointment of an Independent Director.The results were presented alongside operational highlights, noting that the Urea plant was in operation for 91 days during the quarter, matching the previous year's corresponding period.
Financial Performance Snapshot (Q ended June 30, 2026)
The unaudited financial results, which have been reviewed by Statutory Auditors, showed significant operational and financial movements across both standalone and consolidated entities. The company also confirmed that it accounted for a subsidy of Rs. 714.83 crores for the period April to June 2026, based on the provisional Retention Price (RP).A summary of the key financials for the quarter ended June 30, 2026, is provided below:
Table 1: Financial Highlights (Rupees in Crores)
| Particular | Standalone Results | Consolidated Results |
|---|---|---|
| Revenue from Operations | 848.81 | 780.63 |
| Total Income | 850.29 | 798.15 |
| Total Expenses | 807.57 | 708.97 |
| Profit before Tax | 42.72 | 89.18 |
| Net Profit after Tax | 44.88 | 66.71 |
| Earnings Per Share (EPS) | 2.20 | 3.28 |
The company's management noted that it benefits from the option of a lower tax rate permitted under Section 200 of the Income Tax Act 2025, which resulted in a provision for income tax based on the concessional rate prescribed.
Board Appointments and Governance Updates
On August 14, 2026, the company's Board held meetings approving several critical governance changes:New Director Appointments:
Two individuals were appointed as Additional Directors (Non-Executive Nominee Directors), effective immediately.
- Dr. P Sankar: Appointed as an Additional Director by Tamilnadu Industrial Development Corporation Limited (TIDCO). Dr. P Sankar is a 2006 batch IAS Officer, currently serving as the Agricultural Production Commissioner and Secretary for Agriculture and Farmers Welfare Department.
- Sanket Balvantrao Waghe: Also appointed as an Additional Director by TIDCO. Mr. Waghe is a 2021 batch IAS Officer and holds the position of Executive Director at Tamilnadu Industrial Development Corporation Limited.
Independent Director Re-appointment:
Mr. T K Arun was re-appointed as an Independent Director for the second term, effective November 11, 2026. Mr. Arun has extensive experience in investment promotion and project development, having served TIDCO for over three decades and holding positions on the boards of various companies including SPIC.
Corporate Action Dates
The company confirmed several key dates related to shareholder meetings and dividend entitlement:- 55th Annual General Meeting (AGM): Scheduled for Monday, September 28, 2026.
- Record Date: Set as Monday, September 21, 2026, for determining the eligibility of members for dividends concerning Financial Year 2025-26.
- Dividend Recommendation: The Board had previously recommended a dividend of Rs. 2.00 per equity share (of Rs. 10/- each) for FY 2025-26, subject to shareholder approval at the AGM.
The Register of Members will be closed from Tuesday, September 22, 2026, through Monday, September 28, 2026.
SPIC Stock Price Movement
Southern Petrochemicals Industries Corporation Limited (SPIC) shares slipped today after closing at ₹67.68, marking a 0.19% drop in value. The equity recorded a total traded volume of 296,078 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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