SPIC2023-04-012023-06-30 SPIC2023-04-012023-06-30in-bse-fin:OneOperatingExpenses01Member SPIC2023-04-012023-06-30in-bse-fin:OneOperatingExpenses02Member SPIC2023-06-30 SPIC2023-04-012023-06-30in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares SPIC NOTLISTED Southern Petrochemicals Industries Corporation Limited Equity 2023-04-01 2024-03-31 2023-08-11 2023-08-04 INR Crores First quarter 14:30:00 17:20:00 2023-08-11 2023-08-11 Not applicable Single segment Fetiliser Business 2023-04-01 2023-06-30 Unaudited Standalone 5689400000.00 22500000.00 5711900000.00 3991000000.00 0.00 -153700000.00 177900000.00 49600000.00 97100000.00 855900000.00 5017800000.00 694100000.00 0.00 694100000.00 121300000.00 133100000.00 254400000.00 0.00 439700000.00 0.00 0.00 0.00 0.00 439700000.00 44700000.00 484400000.00 0.00 0.00 2036400000.00 10 2.38 2.38 0.00 0.00 2.38 2.38 0.01 0.01 0.00 Notes : 1.The above financial results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their respective meetings held on August 11, 2023 and has been subjected to review by the Statutory Auditors of the Company. These unaudited standalone financial results have been prepared in accordance with the recognition and measurement principles provided in Indian Accounting Standard (Ind AS) 34 on 'Interim Financial Reporting'. the provisions of the Companies Act, 2013 (the Act), as applicable and guidelines issued by the Securities and Exchange Board of India (SEBI) under SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 as amended.2. During the quarter, the production and sale of Urea of the Company were 1.75 lac MT and 1.60 lac MT respectively. 3.Subsidy, for the period April to June 2023, of Rs. 426.35 crores has been accounted based on the provisional Retention Price (RP) computed in line with the Government’s policy, as the final retention price has not been announced by the Department of Fertilizers. The necessary adjustments, if any, and its consequential impact will be assessed when the final retention price is notified. 4.The Company has become a gas-based Urea manufacturing unit since March, 13, 2021 and is therefore eligible for higher fiscal incentives in the form of subsidy income due to higher energy norms from the above said date for the next five year period. Since the Company is not connected to the National Gas Grid, it will be kept out of “Gas Pooling Mechanism” as per the Office Memorandum received from Ministry of Chemical & Fertilizers dated August 13, 2021. 5.During the quarter, the Urea plant was in operation for 89 days (Previous year’s first quarter : 89 days). 6.There is no provision for tax under normal computation in view of the brought forward losses/unabsorbed depreciation relating to earlier years available for set off. Provision for Minimum Alternate Tax (MAT) under section 115-JB of the Income Tax Act, 1961 has been made for the quarter ended 30th June 2023 for an amount of Rs. 12.13 crores. Deferred tax charge /(credit) is net of MAT credit entitlement asset of Rs 12.13 crores for the quarter ended 30th June 2023 based on assessment ( including application of sensitivity analysis on key inputs) of future profitability where it is reasonably certain that the same would be utilised within the time period in keeping with the provisions of Income tax Act. 7.The Code on Social Security, 2020 (‘Code’) relating to employee benefits during employment and post-employment benefits, received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date from which the Code will come into effect has not yet been notified. The Company will assess the impact of the Code when it comes into effect and will record any related impact form the period the Code becomes effective. 8.The Company is engaged in the manufacture and sale of fertilisers which the management has considered as single business operating segment in accordance with the Ind AS 108, Operating segment . 9.The figures of the last quarter ended March 31, 2023 is the balancing figure between audited figures in respect of the full financial year up to March 31, 2023 and the unaudited published year-to-date figures up to December 2022 being the date of the end of the third quarter of the financial year which was subjected to limited review. 10.Previous period’s figures have been regrouped/recast, wherever necessary, to conform to the classification on the current year/period’s classification. For and on behalf of the Board Place: Tuticorin Date: August 11, 2023 E Balu Whole-Time Director DIN: 08773795 Other Expenses 614000000.00 Power and Fuel charges 241900000.00 Effect of Measuring investments at fair value 49700000.00 49700000.00 5000000.00