SPIC announces Q2FY20 results. Company registers revenues of INR 627.63 crore and EBIDTA of INR 32.66crore

Chennai / Mumbai: Southern Petrochemicals Industries Corporation Limited (SPIC), one of India’s pioneeringagri-nutrient and fertilizer companies today announced its results for the quarter/half year ending September 2019.

Financials:
The company recorded revenues of INR 627.63 crore while its EBIDTA stood at 32.66 crore. In the corresponding quarter of FY19, the company had accrued revenues of INR 872.31 crore while its EBIDTA was INR 24.50crore.
(In INR Crore)
Particulars
Q2FY20
Q2FY19
Variance
Year Ended 31.03.19
Year to Date FY20 (Q1+Q2)

Revenues
627.63
872.31
-28.05%
2591.95
1181.85

EBITDA
32.66
24.50
33.31%
109.88
63.96

PAT *
12.70
11.56
9.86%
42.16
24.74

EPS
0.62
0.57
8.77%
2.07
1.22

*Includes Other Comprehensive Income
Leadership Comment: Mr. Ashwin Muthiah, Chairman – SPIC&Founding Chairman, AM International group, Singapore:
“The company’s performance is reflective of the sluggish macroeconomic scenario. I am confident that our performance will pick up pace during the ensuing quarters. Our management is taking concerted efforts in this direction. We are actively pursuing opportunities arising from the government’s continued push to the agriculture sector.”
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AboutSouthern Petrochemicals Industries Corporation Limited (SPIC)www.spic.in
Founded in 1969, SPIC over the last four decades has served the Indian farmer’s agri-productivity needs with scientific rigour and environmentally friendly products. One of India’s first petrochemicals company with a focus on fertilizers, today it is amongst the most recalled agri-brands in rural India trusted by the Indian farmer. It continues with its mission to empower Indian farmers and agriculturists with products that not only increase farm productivity and yield but simultaneously replenishes the soil health. With a state-of-the-art modern fertilizer complex producing 6.2 lakh tons of Neem Coated Urea, the company is a torch-bearer in India’s progress towards national farm productivity and food sufficiency.

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