Southern Petrochemical Industries Reports Strong Financial Growth Amid Rising Debt Levels
Southern Petrochemical Industries Corporation (SPIC) has recently undergone an evaluation adjustment, reflecting notable shifts in its financial metrics and market position. The company reported a significant increase in net sales over the last six months, reaching Rs 1,535.00 crore, which represents a growth rate of 74.59%. Additionally, the profit before tax (PBT) less other income for the latest quarter stood at Rs 83.42 crore, marking a growth of 50.9% compared to the previous four-quarter average. The profit after tax (PAT) reached its highest level at Rs 66.71 crore, while earnings per share (EPS) also peaked at Rs 3.28.Despite these positive indicators, SPIC's debt-equity ratio has risen to 0.60 times, which is noteworthy in the context of its financial health. The company has demonstrated a strong ability to service its debt, evidenced by a low debt to EBITDA ratio of 1.18 times. Furthermore, institutional investors have shown increased participation, raising their stake by 1.65% in the last quarter, indicating a growing confidence in the company's fundamentals.
Overall, the recent evaluation adjustment for SPIC underscores its robust financial performance and strategic positioning within the fertilizers industry.
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