Southern Petrochemical Industries Corporation

What Southern Petrochemical Industries Corporation does

Southern Petrochemical Industries Corporation (SPIC) is one of India's oldest fertilizer manufacturers, founded in 1969 as a joint venture between Dr. M A Chidambaram and Tamil Nadu Industrial Development Corporation Limited (TIDCO), and listed on NSE and BSE under the ticker SPIC. The company operates a large fertilizer complex at Thoothukudi, Tamil Nadu, capable of producing 6.2 lakh tons of Neem Coated Urea annually, alongside a diversified portfolio spanning primary nutrients (urea, DAP, NPK complexes), secondary nutrients, micronutrients, water-soluble fertilizers, organic and bio-fertilizers, plant biostimulants, nano fertilizers, and industrial by-products. SPIC is the flagship entity of the AM International group, which manages four listed companies including Manali Petrochemicals, Tuticorin Alkali Chemicals and Fertilizers, and Tamil Nadu Petroproducts, giving the group a broader fertilizer-petrochemicals platform.

The business model centers on manufacturing and selling fertilizers to Indian farmers through a dealer and distribution network across Tamil Nadu and other states, supplemented by direct farmer engagement via soil testing laboratories, training centers, the SPIC Pannai Cheithy Tamil bi-monthly magazine, and SMS-based advisory services. Revenue is governed by government fertilizer subsidy mechanisms (pricing not publicly disclosed), with FY26 sales of ₹2,940.45 crore and net profit of ₹211.48 crore (+35.9% YoY) — the profit gain coinciding with a Q4 revenue decline of 23%, indicating margin expansion through cost control and product mix. An industrial by-product stream (phospho gypsum, aluminium fluoride ALF-96, silica, industrial ammonium chloride) generates incremental revenue from cement, aluminium, and chemical industry buyers including Hindalco and the Vedanta group.

The company is in a turnaround phase: debt-equity improved from 0.49 to 0.35 in H1 FY26, recent leadership changes include a new CFO and CHRO (2025-2026), and the AM International group has committed approximately ₹2,000 crore in capex over 24 months, with TFL capacity expanding from 75,000 to 200,000 metric tonne by November 2026. Notable investor Dolly Khanna holds a 2.6% stake, and the stock trades at 6-8x PE versus an 18x industry median, with a 3.3% dividend yield against a 0.1% industry average.

Name

Southern Petrochemical Industries Corporation

Legal name

Southern Petrochemical Industries Corporation Limited

Website

https://spic.in

Company type

Public

Founded year

1969

Operating status

Operating

Headcount range

501–1,000 employees

Short description

SPIC is an Indian fertilizer manufacturer founded in 1969, operating a 6.2 lakh ton Neem Coated Urea complex at Thoothukudi and a diversified portfolio of primary, secondary, micronutrient, bio, and nano fertilizers serving Indian farmers through a dealer network, with FY26 revenue of ₹2,940.45 crore.

Ownership category

akta.pro rank

Product category

Agricultural Fertilizers

NAICS

Fertilizer and Compost Manufacturing (32531), Other Basic Inorganic Chemical Manufacturing (325180), Pesticide, Fertilizer, and Other Agricultural Chemical Manufacturing (3253)

SIC

Agricultural Chemicals (2870), Industrial Inorganic Chemicals (2810)

akta.pro primary industry

NPK/Compound & Blended Fertilizers (Granular Blends, Bulk Blending) (AFABABAD)

akta.pro secondary industries

Specialty Potassium Products (SOP, Low-Chloride K, K-Thiosulfate) (AFABACAI), Fertilizer Raw Materials & Intermediates (Phosphate Rock, Sulfuric/Phosphoric Acid, Potash Ore/Brines) (AFABABAH), Potash Fertilizers (MOP/SOP) (IMAEAEAC)

Keywords

• Fertilizer manufacturing
• Agricultural nutrients
• Crop nutrition products
• Industrial by-products
• Agro advisory services

Headquarters

HQ city

Chennai

HQ country

India

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Fertilizer Sales: SPIC generates revenue primarily through the manufacture and sale of fertilizers including Neem Coated Urea, NPK fertilizers, specialty fertilizers, organic fertilizers, and bio-fertilizers through its dealer and distribution network across India.
2. Industrial By-products: SPIC markets industrial by-products from its manufacturing processes including phospho gypsum, aluminium fluoride (ALF-96), silica, and industrial grade ammonium chloride to cement, aluminium, and chemical industries.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Southern Petrochemical Industries Corporation (SPIC) manufactures and sells a comprehensive portfolio of fertilizers including Neem Coated Urea, NPK complexes, water-soluble, organic, bio-fertilizers, and specialty products (liquid and nano fertilizers). It also produces industrial by-products (phospho gypsum, aluminium fluoride ALF-96, silica, industrial ammonium chloride) for cement, aluminium and chemical industries. The company operates an Agricultural Services division delivering soil testing, farmer training, and SMS-based crop advisory to Indian farmers.

Product overview

Southern Petrochemical Industries Corporation (SPIC) operates as a diversified fertilizer and agricultural inputs company with a comprehensive product portfolio organized across multiple categories: Primary Nutrients (including Bharat Urea/Neem Coated Urea, Bharat DAP, NPK complexes 17:17:17, 20:20:0:13, 16:20:0:13, 10:26:26, 12:11:18, MOP, SSP, Rock Phosphate, Potasse, SOP, Ammonia), Secondary Nutrients (Keerthi, Gypsum, Magnesium Sulphate, Bentonite Sulphur, Sulphur 90% WDG), Micro Nutrients (Zinc Sulphate 21%/33%, Zen Chelated Zinc, Copper Sulphate, Nourish, Flourish, Flourish-L, Boro King/Gain/X, Ferrous EDTA), Water Soluble Fertilizers under the Triumph brand (NPK 19:19:19, 13:05:26, 13:40:13, MAP, MKP, Potassium Nitrate, SOP, Boronated Calcium Nitrate, Calcium Nitrate, 00:60:20, 28:28:0), Organic Fertilizers (Jyothi, Deepam, Prom, Bone Powder, Granoz, Areka, Shera Meal), Non Edible De-Oiled Cake Fertilizers (Neem Cake, Sangamam, Jayanthi, Castor Cake), Bio Fertilizers (Vonder, Vonder Plus, Vonder Max, MOB-K, NIT-FIX, Vajra-NPK, Bhoomi-P, Tejas-K), Organic Pesticide (Neem Gold), Plant Growth Regulators (SCYTOZ), Plant Biostimulants (eM POWER Liquid/Granules, MAX Granules/Liquid, GREEN CHARGE), Beneficial Element Fertilizer (Silicon), Liquid Fertilizers (TRI Magik for Sugarcane, Tobacco, Tomato, Melon, Chilli), Nano Fertilizers (Shakthi, Maha Shakthi, DAP Spray, n-phos), and Industrial Products (Gypsum, ALF-96, Silica, Industrial Ammonium Chloride, Technical Grade Urea). The company also provides agricultural services including soil testing, farmer training, farmer journals, agri clinic, and SMS services through its SPIC Agro Biotech Centre.

Differentiator

Problem solved

Functional benefit

Brands

• SPIC Granoz: Organic fertilizer product
• SPIC Potasse
• Bharat Urea
• Bharat NPK
• Bharat DAP
• SPIC Triumph

Products and services

• Bharat Urea (SPIC Neem Coated Urea) Neem-coated urea containing 46% nitrogen in amide form with low biuret content of 0.3%, produced at the Thoothukudi complex at 6.2 lakh tons capacity, for use across all crops and growth stages by Indian farmers.
• Bharat DAP (SPIC DAP) Di-ammonium phosphate complex fertilizer containing 64% nutrients (18% N, 46% P2O5), a concentrated fertilizer for basal application across multiple crops.
• Bharat NPK 17:17:17 (Complex Fertilizer) Complex fertilizer containing equal proportions of Nitrogen, Phosphorus, and Potassium (17:17:17) providing balanced nutrition with water-soluble phosphorus for early vegetative and reproductive crop stages.
• Bharat MOP (Muriate of Potash) Essential potassic fertilizer containing 60% potassium (K2O) that enhances disease resistance, water retention, and produce quality across crops.
• SPIC Super (Single Super Phosphate) Phosphatic fertilizer containing 16% phosphorus along with sulphur and calcium plus micronutrients, widely used for sulphur-deficient soils in Indian agriculture.
• SPIC Keerthi (Secondary Nutrient Supplement) Nutrient supplement of calcium, magnesium, and sulphur providing healthy plant growth and soil salinity/alkalinity correction for agricultural soils.
• SPIC Zinc Sulphate (21% Heptahydrate) Water-soluble zinc sulphate containing 21% zinc and 10% sulphur for all crops, supporting enzyme systems and photosynthesis functions critical to plant development.
• SPIC Triumph (NPK 19:19:19 Water-Soluble Fertilizer) 100% water-soluble fertilizer with equal N, P, K (19:19:19) under the Triumph brand, designed for foliar spraying and drip irrigation across crops.
• SPIC Jyothi (Organic Compost) Organic compost from decomposed city waste containing 12% organic carbon with 1.2% NPK and beneficial bacteria for soil enrichment in organic and conventional farming systems.
• SPIC Neem Cake (Non-edible De-Oiled Cake Fertilizer) Organic fertilizer derived from neem seeds containing 1.5:0.2:0.5% NPK supporting soil texture improvement and beneficial microbial population enhancement in agricultural fields.
• SPIC Vonder (VAM Biofertilizer) Vesicular Arbuscular Mycorrhizal (VAM) preparation with 1,00,000 spores per 100g enhancing water and nutrient absorption including P, K, Cu, Zn, S, N, Ca, Mg, Mn, and Fe.
• SPIC Vajra-NPK (Biofertilizer Consortium) Biofertilizer consortium of nitrogen-fixing, phosphate solubilizing, and potash-mobilizing bacteria that convert unavailable nutrients to plant-available forms, offered in powder and liquid formulations.
• SPIC Neem Gold (Organic/Botanical Pesticide) Botanical pesticide derived from neem with Azadirachtin active ingredient (300–50,000 ppm) for eco-friendly insect and mite control without harming pollinators.
• SPIC SCYTOZ (Plant Growth Regulator) Biologically derived protein hydrolysate containing Auxins, Cytokinins, and Gibberellins produced through fermentation to support fruit setting, uniform fruit size, and yield increase.
• SPIC eM POWER (Liquid Plant Biostimulant) Liquid plant biostimulant containing 6% humic acid that enhances photosynthesis, prolongs shelf life, and improves crop yield and quality for farmers.
• SPIC TRI Magik (Crop-Specific Liquid Fertilizers) Crop-specific liquid nutrient solutions (NPK 11:11:8 fortified with Zinc and Boron) supporting sucrose synthesis, cane girth and tillering in sugarcane, and tailored formulations for tobacco, tomato, melon, and chilli.
• SPIC Shakthi (Nano Urea Fertilizer) Innovative nano urea product using nanotechnology, applied as foliar spray for increased nitrogen availability and higher nitrogen use efficiency versus conventional urea.
• SPIC DAP Spray (Nano-Enabled DAP) Nano-enabled DAP fertilizer powered by Phyteon Quantum Technology delivering over 90% nutrient uptake efficiency with fast leaf penetration for agricultural crops.
• SPIC ALF-96 (Aluminium Fluoride) Aluminium fluoride supplied to industrial aluminium producers (including Hindalco and Vedanta Resources group) for electrolysis, lowering melting point and increasing conductivity in molten salt systems.
• Industrial Grade Ammonium Chloride (98.1% purity) Industrial ammonium chloride at 98.1% purity supplied to metalworking, battery manufacturing, leather, textile, and chemical industries for process use.
• Agricultural Services (Soil Testing, Farmer Training, SMS Advisory) SPIC Agricultural Services division delivers soil testing, farmer training centers, free educational programs, and SMS-based agricultural information services directly to Indian farmers across Tamil Nadu as a complementary offering to the fertilizer product line.
• SPIC Agro Biotech Centre (Plant Tissue Culture Services) SPIC Agro Biotech Centre operates Plant Tissue Culture Laboratories (Chennai R&D facility and commercial Coimbatore facility) supporting agricultural biotechnology research and propagation services for SPIC's crop nutrition portfolio.

Quantifiable outcome

• FY26 net profit increased 35.90% to ₹211.48 crore from ₹155.6 crore in FY25
• +3 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Six partnerships are on record, tiered core and major.

• Tamil Nadu Industrial Development Corporation Limited (TIDCO)coreStrategic or Co-development Partner · 1 January 1969SPIC is a joint venture founded by Dr M A Chidambaram and Tamil Nadu Industrial Development Corporation Limited (TIDCO), a state-owned industrial development institution. TIDCO remains a significant stakeholder and provides nominee directors to the board including Sweta Suman appointed as Nominee Director from TIDCO.
• Tuticorin Alkali Chemicals and Fertilizers Ltd (TFL)coreStrategic or Co-development PartnerAssociate company of SPIC set up in 1981. TFL is the only producer of Soda Ash using Japanese Toyo Soda Dual Process. Manufacturing unit is located at Tuticorin contiguous to SPIC Plant. Uses imported Ammonia through Tuticorin Port and SPIC facilities, co-produces Ammonium Chloride Fertiliser. Currently setting up 174 T/day CO2 Recovery Plant and expanding capacity from 75,000 to 200,000 metric tonne by November 2026.
• Tamilnadu Petroproducts Ltd (TPL)majorStrategic or Co-development PartnerJointly controlled entity established in 1984 with 50,000 MTA Linear Alkyl Benzene (LAB) project. SPIC and TIDCO are promoters. LAB plant located in Manali Industrial Belt, 25 km from Chennai. SPIC has turnover close to US $800 billion and is principal force in TPL's leadership in detergent business.
• Manali Petrochemicals Ltd (MPL)majorStrategic or Co-development PartnerCompany originally promoted by SPIC, engaged in production and marketing of Propylene Oxide, Propylene Glycols and Polysols in India. Located at Manali in Chennai with two grassroot production facilities. Markets Polyols with Isocyanates sourced indigenously and imported from Japan and China for polyurethane industry.
• Greenstar Fertilizer LtdcoreChannel Partner/ Reseller/ DistributorMarketing partner for SPIC's Ammonium Chloride fertilizer and other products. Marketed by Greenstar Fertilizer Ltd under the Greenstar brand through the dealer network across Tamil Nadu.
• AM International GroupcoreOthersSPIC is the flagship company of AM International group which manages operations across fertilizers, petrochemicals and specialty chemicals through four listed companies: SPIC Ltd, Manali Petrochemicals Ltd, Tuticorin Alkali Chemicals and Fertilisers Ltd, and Tamil Nadu Petroproducts Ltd. Group plans around ₹2,000 crore in capital expenditure over next 24 months focused on brownfield expansion at Tuticorin, Manali, and Gujarat.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Coromandel International: India's largest private-sector phosphatic fertilizer manufacturer and a major NPK player. Directly comparable to SPIC across NPK complexes, single super phosphate, specialty fertilizers, and bio-products, and an industrial by-product customer of SPIC.
• National Fertilizers Limited (NFL): PSU urea and NPK manufacturer operating multiple plants across India. Comparable to SPIC on urea-dominated mix, subsidy-driven economics, and presence in northern Indian agricultural markets.
• Deepak Fertilizers and Petrochemicals Corporation: Indian manufacturer of fertilizers (NPK, micronutrients) and petrochemicals (phenol, IPA). Comparable to SPIC's petrochemical heritage and diversified fertilizer-and-chemical product structure with specialty grades.
• Paradeep Phosphates: India's largest manufacturer of DAP and complex phosphatic fertilizers with a coastal plant similar to SPIC's Thoothukudi setup. Directly comparable on DAP, NPK complexes, and phosphatic fertilizer economics.
• Zuari Agro Chemicals: Indian fertilizer company producing urea, NPK, DAP, and specialty fertilizers with a strong dealer network. Comparable to SPIC across product portfolio breadth and Indian farmer-customer focus.
• Rashtriya Chemicals & Fertilizers (RCF): Public-sector urea and NPK manufacturer with a similar diversified product portfolio and Indian domestic distribution focus. Closely comparable to SPIC's product breadth and government-subsidy-dependent revenue model.
• Chambal Fertilizers & Chemicals: One of India's largest urea producers with significant NPK and DAP presence. Comparable to SPIC on urea scale, fertilizer distribution in Indian states, and complex fertilizer product lines serving farmers through dealer networks.
• Mangalore Chemicals & Fertilizers: Indian manufacturer of urea, DAP, NPK, and specialty fertilizers serving South Indian markets. Highly comparable to SPIC on coastal Indian plant location, South Indian distribution, and fertilizer product mix.
• Gujarat State Fertilizers & Chemicals (GSFC): Diversified Indian fertilizer and chemical manufacturer producing urea, NPK, DAP, and industrial chemicals. Comparable to SPIC's combined fertilizer-plus-industrial-by-product business model and Indian market focus.

Broad incumbents

• Indian Farmers Fertiliser Cooperative (IFFCO): India's largest fertilizer cooperative with dominant share in urea, NPK, DAP, and biofertilizers. Comparable to SPIC on full fertilizer portfolio and subsidy-driven business model but operates at substantially larger scale across multiple plants.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/spic

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Southern Petrochemical Industries Corporation