SPIC announces Q3 FY 24-25 Results

Press Release

08 Feb 2025

Company registers revenues of INR 818.04 crore and PBT of INR 54.59 crore

Financials:

Southern Petrochemical Industries Corporation Ltd. (SPIC), one of India’s pioneering agri-nutrient and fertilizer companies, today announced its financial results for the Quarter ending December 2024.

Quarterly Results:

figures in INR crores

Particular	Q3FY25	Q3FY24	Year to Date FY 24-25 (Q1+Q2+Q3)	Year Ended 31.03.24
Total Income	823.23	519.47	2340.82	1962.16
PBT	54.59	46.53	182.02	142.99

During the current quarter of FY25, the Company registered an income of INR 823.23crores, and Profit Before Taxof INR 54.59crores as compared to an income of INR519.47crores, and Profit Before Tax of INR46.53 croresduring the corresponding quarter of the previous FY24.

The revenue from operations at INR 818.04crores was about 62%higher than the corresponding quarter of FY24at INR506.40 Crores.

Leadership Comment:

Mr. Ashwin Muthiah, Chairman – SPIC & Founder Chairman, AM International, Singapore:

“In Q3FY25, we achieved significant revenue growth and improved profitability compared to the same period of the previous year. This performance reflects our focus on cost and operational efficiencies, savings from transitioning to natural gas as a raw material, and customer-centric marketing efforts.

India continues to present growth opportunities as an agri-economy, and we remain committed to supporting the 'One Bharat One Fertiliser' scheme and our farmers with research-driven agri-nutrient solutions.”

Indian Agriculture & Fertilizer Sectors Update

According to the advance estimates shared by the Agriculture Ministry, India’ food grain production reached a record level of 164.7 million tonne (MT) in 2024-25 kharif season, registering year-on-year increase of 5.4%. This augurs well for the rural economy and consumption, with improved income prospects for farmers. Further, with above-normal monsoon rainfall and high ground water reservoir levels, the rabi sowing, is also expected to be robust.

During the quarter, the fertilizer industry witnessed challenges in the supply of imported DAP fertilizers and raw materials owing to the prevalent geopolitical situation at the Red Sea. Consequently, shipments were rerouted via the Cape of Good Hope, resulting in longer voyage times and higher freight costs. The delay and shortage in the supply of DAP imports led to price volatility.