Southern Petrochemicals Industries Corporation Ltd announced a change in its Board composition effective July 13, 2026, following the withdrawal of a nomination by Tamilnadu Industrial Development Corporation Limited (TIDCO). Mr. Sandeep Nanduri, IAS, who served as a Non-Executive Nominee Director, ceased to hold the position on the date the company received TIDCO's communication. The company stated there were no other material reasons for the cessation beyond the withdrawal of the nomination.

TIDCO has subsequently nominated Dr. D. Karthikeyan, IAS, the Chairman and Managing Director of TIDCO, to the Board of Southern Petrochemicals Industries Corporation Ltd. Dr. Karthikeyan will represent TIDCO in place of Mr. Sandeep Nanduri. The nomination includes the submission of necessary regulatory forms, including DIR-2, MBP-1, and DIR-8, along with disclosures required under the Companies Act, 2013.

The disclosure was made to the National Stock Exchange of India Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the resignation letter from Mr. Nanduri and the detailed profile of the new nominee have been provided to the exchange.

The transition follows a formal communication from TIDCO dated July 10, 2026. The company has requested that the exchange take the information on record.

Southern Petrochemicals Industries Corporation Ltd reported a 41% year-on-year increase in standalone net profit to ₹286.55 crores for the year ended March 31, 2026. The board recommended a dividend of 20% on equity shares, amounting to ₹2 per share, subject to shareholder approval at the 55th Annual General Meeting. Total income for the year stood at ₹3015.10 crores, compared to ₹3100.25 crores in the previous year, while total expenses decreased to ₹2728.55 crores from ₹2897.59 crores.

Financial Performance Overview

The company's profitability improved despite a slight decline in total income. The following table summarises the key financial metrics for the year ended March 31, 2026, compared to the previous year:

Operational Highlights

Revenue from operations for the year was recorded at ₹2955.97 crores, a decrease from ₹3086.33 crores in the previous year. However, effective cost management contributed to the growth in bottom-line earnings. The company reported that its Urea plant was in operation for 73 days during the fourth quarter, compared to 90 days in the previous year's fourth quarter. Production and sale of Urea for the year were 7.21 lac MT and 7.14 lac MT respectively.

Dividend Declaration

The Board of Directors has recommended a dividend of 20% on the Equity Shares of face value of Rs. 10/- each, amounting to Rs. 2/- per Equity Share for the Financial Year 2025-26. This dividend is subject to the approval of the Shareholders at the ensuing 55th Annual General Meeting. The record date and payment date will be informed in due course.

Management Changes

The board appointed Mr. Narasimhan Raghunathan as the Chief Financial Officer and Key Managerial Personnel of the company effective May 23, 2026. Mr. K R Anandan has been relieved from the position of Chief Financial Officer but continues to serve as a Whole-Time Director and Key Managerial Personnel.