Financial Performance Summary

Quarterly Results (Q1 FY 2026-27)

  • Total Income: INR 850.29 crores (Unaudited)
  • Profit Before Tax: INR 42.72 crores (Unaudited)

Comparative Performance

Year-over-Year Comparison (Q1 FY26 vs Q1 FY25):

  • Total Income: INR 850.29 crores vs INR 798.15 crores (previous year corresponding quarter)
  • Profit Before Tax: INR 42.72 crores vs INR 89.18 crores (previous year corresponding quarter)

Sequential Comparison (Q1 FY26 vs Q4 FY25):

  • Total Income: INR 850.29 crores vs INR 595.73 crores (Quarter ended 31st March 2026)
  • Profit Before Tax: INR 42.72 crores vs INR 41.82 crores (Quarter ended 31st March 2026)

Annual Context (FY 2025-26 Audited):

  • Total Income: INR 3,015.10 crores
  • Profit Before Tax: INR 286.55 crores

Dividend Declaration

  • The Board of Directors recommended a dividend of 20% on Equity Shares of face value of Rs. 10/- each (Rs. 2/- per Equity Share) for Financial Year 2025-26
  • This recommendation was made at the meeting held on 22nd May 2026
  • Dividend approval is subject to shareholder approval at the ensuing 55th Annual General Meeting

Corporate Governance

  • The 55th Annual General Meeting will be convened on Monday, 28th September 2026 at 02:00 PM (IST)
  • The meeting will be conducted through Video Conferencing/Other Audio-Visual Mode

Management Commentary

Mr. Ashwin Muthiah, Chairman of SPIC, provided the following insights:

Performance Drivers & Challenges:

  • Q1 turnover remained higher than the corresponding period of the previous year despite ongoing geopolitical challenges
  • Margins were impacted by:
  • Sharp increase in raw material costs
  • Higher international logistics expenses due to the current macro-environment

Strategic Focus Areas:

  • Strengthening internal capabilities through operational efficiency
  • Implementing sustainable manufacturing practices
  • Emphasizing domestic sourcing, particularly the use of natural gas as a key raw material
  • Preparing the business for sustainable growth over the longer term
  • Navigating external shocks through these measures

Outlook: The Chairman remains "cautiously optimistic" about future prospects

Sector Context

Government Initiatives in Fertilizer Sector (Q1 FY26-27)

The Government of India undertook several strategic measures:

  • Strengthening domestic fertilizer production
  • Diversifying sources of raw materials and fertilizer imports
  • Ensuring uninterrupted availability of fertilizers to farmers amid global supply disruptions and international market volatility

Production Data

  • India produced 293.30 LMT of urea during FY 2025-26

Policy Developments

  • In July 2026, the Cabinet Committee on Economic Affairs (CCEA) approved the National Investment Policy for Urea-2026 for Aatmanirbhar Bharat (NIPU-2026)
  • Policy objectives:
  • Facilitate fresh investments in the Urea sector
  • Establish up to nine new natural gas-based urea plants across the country
  • Increase annual production capacity by approximately 10 million tonnes
  • Expected participation from private and public sectors, as well as cooperative institutions