SPIC Q1 FY27 results: Revenue up 8.8%, profit falls

Key takeaway from SPIC’s June-quarter update

Southern Petrochemical Industries Corporation Ltd (SPIC) reported a higher top line for the quarter ended June 2026 (Q1 FY27), while profit showed a year-on-year decline across market-data summaries. Reported revenue for the quarter clustered around ₹845 crore to ₹850 crore, pointing to mid-single-digit growth compared with the year-ago period. At the same time, profit figures varied by source, but the direction was consistent: profitability was lower than last year’s June quarter. The update matters for investors tracking SPIC’s ability to convert revenue growth into earnings, especially when operating margins are volatile. It also comes at a time when the stock has seen negative returns over the last 6 and 12 months based on the data provided.

Q1 FY27 revenue growth, with mixed profit figures in feeds

One update stated SPIC registered income of ₹850.29 crore and profit of ₹42.72 crore in Q1 FY 2026-27, compared with income of ₹798.15 crore and profit of ₹89.18 crore in the corresponding quarter of the previous year. Separately, a Capital Market feed reported sales of ₹845.19 crore for the quarter ended June 2026, up 8.76% from ₹777.14 crore in June 2025. The same feed showed net profit of ₹60.18 crore for June 2026 versus ₹66.71 crore in June 2025, a decline of 9.79%.

Another market summary framed the quarter as “Q1 revenue rises to 8.45B rupees” and “standalone net profit at 448M rupees”. Normalised to ₹ crore, this implies revenue of about ₹845 crore and standalone net profit of about ₹44.8 crore. That same summary also cited derived year-on-year changes of about 8.33% revenue growth (₹845 crore vs ₹780 crore) and about 23.16% profit decline (₹44.8 crore vs ₹58.3 crore). Taken together, the numbers point to stronger sales but weaker profitability, although the exact profit figure differs depending on the source and classification used.

Operating metrics: margin compression highlighted by OPM

The Capital Market data included operating indicators that help explain the profit pressure. Operating profit margin (OPM) was listed at 6.96% in June 2026 versus 12.00% in June 2025. Profit before depreciation and tax (PBDT) was ₹72.31 crore in June 2026 compared with ₹110.77 crore in June 2025. Profit before tax (PBT) was ₹62.62 crore versus ₹100.94 crore for the same period.

Those figures suggest that cost pressures or a less favourable product mix reduced operating leverage even as sales grew. While one summary attributed the squeeze to possible increases in raw material costs or operating expenses, the provided data itself only confirms the margin and profit compression, not the underlying cause.

Stock price and ownership snapshot

On the trading front, SPIC was quoted at ₹67.30 as of Mon, Aug 17, 2026 at 09:59:23 (per the provided snapshot). Another price point in the same dataset showed ₹67.78 at close on August 10. SPIC shares were also noted as closing at ₹71.81 on May 22, 2026 (NSE).

For ownership, mutual fund holding in Southern Petrochemicals Industries Corporation Ltd was reported at 0.01% as on 30 June 2026. The dataset also stated the stock delivered -15.25% returns over the last 6 months and -17.55% over the last 12 months (as of the cited May 22, 2026 reference).

Recent quarter context: March 2026 consolidated performance

The article data also provided consolidated quarterly numbers for the quarter ended March 2026. Net sales were ₹584.15 crore in March 2026, down 22.56% from ₹754.37 crore in March 2025. Quarterly net profit was ₹29.49 crore in March 2026, up 51.46% from ₹19.47 crore in March 2025.

EBITDA for March 2026 stood at ₹56.52 crore versus ₹41.87 crore in March 2025, and EPS increased to ₹1.45 from ₹0.96. This context indicates that profitability improved in March 2026 even as sales declined year-on-year in that quarter, contrasting with June 2026 where sales rose but profits weakened in the feeds cited.

FY26 audited results: income lower, PBT higher

For the year ended 31 March 2026, SPIC reported audited annual total income of ₹3,015.10 crore, versus ₹3,100.25 crore a year earlier. Despite the lower income, profit before tax increased to ₹286.55 crore from ₹202.66 crore.

The same audited note said fourth-quarter income declined to ₹595.73 crore from ₹759.44 crore year-on-year, while fourth-quarter profit before tax nearly doubled to ₹41.82 crore. Another line in the dataset stated the company “reported a net profit of ₹211.48 crore in 2026”, which adds a full-year profit reference point, though the exact period definition in that line is not expanded further in the provided text.

Dividend and management changes

The board recommended a 20% dividend on equity shares of face value ₹10, equivalent to ₹2 per share, for FY 2025-26, subject to shareholder approval at the upcoming 55th AGM. Such a recommendation typically signals management’s intent to return cash to shareholders, but the payment remains contingent on approvals.

The company also appointed Narasimhan Raghunathan as Chief Financial Officer and Key Managerial Personnel from 23 May 2026. The note added that Whole-Time Director K.R. Anandan would be able to focus more on overall business growth following the change.

Table: June-quarter numbers across provided sources

The June-quarter dataset includes multiple figures reported via different summaries. The table below only reproduces numbers explicitly present in the input and keeps revenue in ₹ crore.

Market impact: what the numbers indicate

For markets, the primary signal from the June-quarter update is that SPIC’s revenue rose while profitability weakened. The OPM move from 12.00% to 6.96% (as per the Capital Market feed) is large enough to materially affect earnings even when sales are higher. Investors typically track whether such margin compression is temporary or persistent, but the provided data does not confirm drivers.

Price snapshots near ₹67 to ₹72 around May to mid-August 2026, along with the cited -15.25% (6 months) and -17.55% (12 months) returns, suggest the stock’s recent performance has been under pressure in the period referenced. The mutual fund holding at 0.01% as of 30 June 2026 also provides a data point on institutional participation, although it does not by itself explain market moves.

Why this quarter matters in the broader sequence

SPIC’s recent sequence shows different combinations of sales and earnings. March 2026 consolidated numbers showed lower sales but higher profit year-on-year, while June 2026 showed higher sales but lower profit in multiple summaries. The FY26 audited results added another layer: income was slightly lower year-on-year, but PBT increased meaningfully.

That mix makes the June-quarter margin trend a key datapoint. The dividend recommendation of ₹2 per share and the CFO appointment in May 2026 are additional corporate developments investors may track alongside quarterly performance.

Conclusion

SPIC’s Q1 FY27 updates pointed to revenue growth around ₹845-850 crore, but profit declined year-on-year across the figures provided, alongside a reported drop in operating margin. The next key formal checkpoint mentioned in the data is shareholder approval for the recommended FY25-26 dividend at the 55th AGM.