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

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

14thNovember2019, Chennai / Mumbai: Southern Petrochemicals Industries Corporation Limited (SPIC), one of India’s pioneering agri-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.”