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{{Short description|Indian corporation}}
{{about|the [[India]]n [[petrochemical]]s company|the ethnic slur|Spic|other uses|Spic (disambiguation)}}
{{EngvarB|date=September 2013}}
{{Use dmy dates|date=September 2013}}
{{Infobox company
| name = Southern Petrochemical Industries Corp Ltd
| logo = SPIC logo.svg
| logo_size = 225px
| type = public company
| traded_as={{BSE|590030}}<br/>{{NSE|SPIC}}<br/>{{ISIN|INE147A01011}}
| foundation = 1969
| founder =
| location_city = [[Chennai]]
| location_country = {{nowrap|[[India]]}}
| area_served =
| key_people =
| industry = [[Chemicals]] and [[Pharmaceuticals]]
| products =
| revenue ={{profit}}{{INRConvert|270.13|c}} (2011)<ref>[http://www.moneycontrol.com/financials/network18/consolidated-balance-sheet/NMI FY 2011 Network 18]</ref>
| net_income = {{profit}}{{INRConvert|40.13|c}} (2011)<ref>[http://www.moneycontrol.com/financials/network18/consolidated-balance-sheet/NMI FY 2011 Network 18]</ref>
| assets =
| equity =
| subsid =
| num_employees = 447
|accessdate =
| homepage = [http://spic.in/ spic.in]
| intl =
}}
'''Southern Petrochemical Industries Corporation Ltd''', or '''SPIC''', ({{BSE|590030}}, {{NSE|SPIC}}) is an [[India]]n company that makes [[petrochemical]]s. The company, headquartered in [[Chennai]], [[Tamil Nadu]], [[India]], was incorporated on 18 December 1969<ref>{{cite news|title=Company History – SPIC|newspaper=The Economic Times|publisher=The Times Group|url=http://economictimes.indiatimes.com/infocompanyhistory.cms?companyid=13154&prtpage=1|access-date=4 May 2012}}</ref> and became a joint venture between the [[M. A. Chidambaram]] Group and [[TIDCO]] (a part of the Government of [[Tamil Nadu]]) in 1975. The government [[Privatisation in India|sold]] its stake in 1992. Its [[core competency]] is in [[fertiliser]] products. It has operations in [[electrical power industry|power]], [[petroleum|oil]] and natural gas, [[pharmaceuticals]], and [[biotechnology]] applications in agriculture.

The company's biggest client has been the government of Tamil Nadu, which purchases [[agriculture|agro-products]] for subsidised distribution through its [[Public Distribution System]]. The company has been in poor financial health since about 2002. Its 2006 sales amounted to {{INR}} 2,200 [[10000000 (number)|crore]], with a net operating loss of {{INR}} 180 crore.

SPIC has four business lines:
* the fertiliser division,
* the pharmaceuticals division which manufactures Penicillin-G Potassium (fermentation-based), and active pharmaceutical ingredients,
* the engineering/construction services division offers specialised and turnkey project-based solutions mainly in fertilisers,
* the agri-business division, which offers products for agricultural development like hybrid seeds and bio-fertilisers.

The company has a strategic stake/or has promoted companies like Thoothukudi Alkali Chemicals, a soda ash manufacturer, Tamil Nadu Petro-products a company which produces liner alkali benzene, Manali Petrochemicals, Indo-Jordan Chemicals and a host of other companies.

As per regulatory filings, the promoters (including TN government's investment arm which has 8.2% stake) hold 39.2%, institutions hold 16.2%, public shareholding is 29% and custodians of GDRs hold the balance. First, SPIC knocked on the [[BIFR]] doors, and then entered the CDR Cell for restructuring loans. The problem for SPIC started in the late 1990s when the company had planned a foray into petrochemicals through SPIC Petrochemicals, which ran into a rough weather. It was contrived then to make purified [[terephthalic acid]] (PTA) and polyester filament yarn (PFY) facility at Manali in Chennai.

==References==
{{reflist}}

==External links==
*[http://spic.in Company website, with some financial performance details]
*[http://www.blonnet.com/2006/02/02/stories/2006020203012300.htm ONGC examining acquiring SPIC]
*[http://timesofindia.indiatimes.com/business/india-business/spic-on-the-block-hunt-on-for-suitors/articleshow/4421824.cms Article from Times of India]
*[http://www.business-standard.com/india/news/spic-to-be-reopened-says-azhagiri/69833/on]

{{Chennai Topics}}

[[Category:Fertilizer companies of India]]
[[Category:Companies based in Chennai]]
[[Category:Petrochemical companies of India]]
[[Category:1969 establishments in Tamil Nadu]]
[[Category:Manufacturing companies established in 1969]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]

SPIC (Indian company) - Revision history

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