Gayathri R Internship Report 01

A REPORT ON INSTITUTIONAL TRAINING UNDERTAKEN
AT
SPIC LIMITED
Submitted in partial fulfilment of the requirement for the award

of the degree
BACHELOR OF COMMERCE
(CORPORATE SECRETARYSHIP)
BY
GAYATHRI.R
2113721042020
UNDER THE GUIDANCE OF

Ms. K.J. RACHEL, M.COM ,M.B.A
DEPARTMENT OF COMMERCE (CORPORATE

SECRETARYSHIP)
MOP VAISHNAV COLLEGE FOR WOMEN (AUTONOMOUS)
CHENNAI-600034
2023-2024
ACKNOWLEDEMENT
I express my heartfelt gratitude to the Principal Dr.Archna Prasad ,M.com,M.B.A,

Ph.D. for giving me the opportunity to gain practical knowledge through undergoing
institutional training.
I am grateful to the Head of Department Dr. V. Sudha, M.Com., B.Ed, M.Phil, Ph.D
and my Faculty Advisor Ms. K.J. Rachel, M.COM ,M.B.A for their guidance and
valuable help in framing this project report.
I am very grateful to all the staff members of SPIC Limited for offering their timely
help whenever required.
I once again like to thank everybody who helped me in submitting my project report
successfully.
GAYATHRI.R
DECLARATION
The project report on the institutional training undergone at SPIC LIMITED in partial
fulfillment of the requirement for the award of the degree of Bachelor of Commerce
submitted by me GAYATHRI.R -2113721042020 is a record of the original work
done by me.
Ms. K.J .Rachel,M.Com, M.B.A

Faculty Advisor
Dr. V. Sudha, M.Com., B.Ed, M.Phil, Ph.D

Head of Department
Submitted to M.O.P. Vaishnav College for Women

On:
TABLE OF CONTENTS
CHAPTER TITLE PAGE

NO NO
1 INTRODUCTION 1
2 MEMORANDUM OF ASSOCIATION 30
&ARTICLES OF ASSOCIATION
3 DEPARTMENTATION 39
4 DATA ANALYSIS AND 46

INTERPRETATION
5 FINDINGS,SUGGESTION&CONCLUSION 59
LIST OF CHARTS
S.NO CHARTNO. DESCRIPTION PAGEN

O
1. Chart4.1 Share capital of the company 48
2. Chart4.2 Income from operations of the 49

company
3. Chart4.3 Net profit before interest and taxation 50
4. Chart4.4 Net profit after interest and taxation 51
5. Chart4.5 Quick ratio of the company 53
6. Chart4.6 Debt asset ratio of the company 54
7. Chart4.7 Debt equity ratio of the company 55
8.. Chart4.8 Gross profit ratio of the company 56
9. Chart4.9 Current ratio of the company 57
10 Chart4.10 Asset turnover ratio of the company 58

.
LIST OF TABLES
S.NO TABLE DESCRIPTON PAGEN

NO. O
1. Table4.1 Share capital of the company 48
2. Table4.2 Income from operations of the company 49
3. Table4.3 Net profit before interest and taxation 50
4. Table4.4 Net profit after interest and taxation 51
5. Table4.5 Quick ratio of the company 53
6. Table4.6 Debt asset ratio of the company 54
7. Table4.7 Debt equity ratio of the company 55
8. Table4.8 Gross profit ratio of the company 56
9. Table4.9 Current ratio of the company 57
1 Table 4.10 Asset turnover ratio of the company 58

0.
CHAPTER 1
INTRODUCTION
1
SPIC LIMITED –AN OVERVIEW
Southern petrochemical industries corporation (SPIC) limited is one of the leading
fertilizer manufacturing companies in the country located at Thoothukudi in the state
of Tamil Nadu. It is a joint venture founded by Dr. M A Chidambaram and Tamil
Nadu industries development corporation limited (TIDCO).
SPIC’s Large Fertilizer Complex Is Capable Of Producing 6.2 Lakh Tons Of
Neem Coated Urea
SPIC is one of the earliest units set up in the country with a vision to produce high
quality fertilizers to improve the agricultural output of the country. SPIC’s large
fertilizer complex is capable of producing 6.2 lakh tons of Neem Coated Urea. SPIC is
a household name within the farming community due to its ability to enrich the soil
consistently throughout the agricultural cycle with maximum nutrient use
efficiency.Southern Petrochemical Industry Corporation (SPIC) since its founding in
1975 has been providing product & services that feed, nourish, and protect the
agriculture & rural ecosystem.
During the financial year 2000–01, the company disposed of its stake in SPIC PHI
Seeds Ltd., in favour of the overseas joint venture partner and also hived off the
Heavy Chemicals Division. The company is in the process of identifying suitable
partners/ business options for hiving off the pharmaceutical and biotechnology
operations.
The Company Is Now A Well Diversified One With Area Of Businesses
Spreading From Fertilizers To Pharma:
Fertilizers– SPIC is among India's largest manufacturers of fertilizers. Operating
through a vast India wide distribution network involving more than 12 states and 4000
outlets, we market more than 2 million tonnes of fertilizers annually to enhance the
agricultural productivity and profitability of millions of farmers. Urea – Complex
fertilizers– Di ammonium phosphate (DAP) – Fertilizer–grade gypsum Muriate of
potash – Sulphuric acid, phosphoric acid, and aluminium fluoride. SPIC's engineering
services business offers specialized and turnkey project–based solutions mainly in:–
Rural and railway electrification – Chemicals and petrochemicals – Fertilizers – Oil
and gas – Power. Fermentation–based Penicillin–G?óÔé¼ÔÇØamong the world's
most cost–effective; – Customs synthesis and contract manufacturing of active
pharmaceutical ingredients (apsis), drug intermediates, and synthetic organics.
2
COMPANY PROFILE
HISTORY OF SOUTHERN PETROCHEMICALS INDUSTRIES

CORPORATION LTD
YEAR EVENTS
1969 - The Comp. was Incorporated on 18th December 1969 at Chennai.The Comp.
is a manufacturer of all kinds of fertilisers & chemicals including petro-chemicals and
plastics.
1979 - During the year a pure Gas Hydrogen Recovery Unit was installed to increase
Ammonia Production.
1983 - The Comp. also acquisitioned two chemical tankers 'SPIC PEARL' and 'SPIC
EMERALD' for regular delivery of Phosphoric Acid from overseas supplies to its
plants. The Comp. has also placed an order for a modern gas carrier.The Comp. has
promoted [is] Tamilnadu Petroproducts Ltd in the joint sector alongwith TIDCO [iis]
SPIC Electronics and Systems Ltd for manufacture of IC Chips and [iiis] Manali
Petrochemical Ltd for manufacture of Propylene Oxide, Propylene Glycol and
Polycol.The Comp. has been choosen as the Copromoter for Rs 840 crore Aromatics
Project being setup in the joint sector by Madras Refineries Ltd.
1995 - Southern Petrochemicals Industries Corporation Ltd., Chairman signed an
MoU with Gelman Sciences of US for manufacturing membrane filters for industrial
health care operations. US Chemical giant EI DuPont de Nemours & Comp. proposes
to establish a tie-up with the Madras-based Southern Petrochemical Industries
Corporation [SPICs].
1996 - The fertiliser plants were shut down for maintenance from 23rd March, to 9th
May. A two hectare Floriculture EOU with Israeli technical collaboration for Rose
cut-flowers was commissioned
1997 - Spic is setting up a $160 million urea plant at Jebel Ali free trade zone in
United Arab Emirates [UAEs]. The plant is being set up under a wholly owned
3
subsidiary, Spic Fertilisers & Chemicals, with a capacity of 1,200 tpa of urea & 6.85
tpa of ammonia. Spic Electric Power Corporation Limited, a new venture promoted by
Spic group, signed a power purchase agreement [PPAs] with the Tamil Nadu
Electricity Board [TNEBs] for its 525 MW fourth stage Tuticorin thermal power
project.Southern Petrochemical Industries Corporation Ltd is setting up a wholly
owned subsidiary [WOSs] in Jebel Ali Free Zone [JAFZs] near Dubai for manufacture
of urea & ammonia. Southern Petrochemicals Industries Corporation [SPICs] has
signed an agreement with M.W.Kellogg of United Kingdom for its USD 160 million
fertiliser complex in Dubai, through its wholly owned subsidiary Comp. named SPIC
Fertilisers and Chemicals FZE. Fertiliser major Spic has come out with a new set of
proposals for merger of its two ventures, Spic Petrochemicals Ltd [SPCs] & Spic
Aromatics & Chemicals Ltd [SACLs] with Arochem, its joint venture with Madras
Refineries Ltd [MRLs]. The fertiliser giant, Southern Petrochemical Industries
Corporation [SPICs], has signed an agreement with Universal Investments of New
Zealand for forming a joint venture company, which would process foods & export
them.
1998 - Southern Petrochemical Industries Corporation Ltd [SPCs] has decided to
convert its wholly owned subsidiary at Dubai into a joint venture Comp. by inducting
two more partners in Mauritius, to muster financial strength.Southern Petrochemical
Investment Comp. Ltd [SPICs] is diversifying into hospitality sector & has entered
into a marketing tie-up with Radisson Hotels International Inc of USA.Spic-SMO, a
division of Southern Petrochemical Industries Corporation Ltd [Spics], has entered
into a Rs.10 crore joint venture with Italy-based Technipetrol SpA, a wholly-owned
subsidiary of Technip group of France.Southern Petrochemicals Industries
Corporation [Spics] has forged a joint venture with Technipetrol Spa of Italy. SPIC
has presented a proposal to financial institutions, to merge its two associate companies,
Manali petrochemical Ltd and Spic Organics Ltd [SORLs]. Spic Organics Ltd has
allotted 1.5 crore equity shares of Rs. 10 each at par to Southern Petrochemical
Industries Corporation Ltd [SPICs].
1999 K Govindarajan quit as managing director of Spic Petrochemicals Ltd [SPCs]
2000 - The Heavy Chemical Division of Comp. situated at Manali is proposed to be
transferred/disposed off as a `going concern' on such conditions after taking into
consideration the result of an independent valuation study.Spic has bagged the Award
of Honour for year 1999 from the National Safety Council of India, -VR Aravind
4
managing director of Gulf SPIC Contracting Comp. WLL Kuwait will take over as the
managing director of SPIC Petro. - Tamilnadu Petroproducts [TPLs] has acquired the
heavy chemicals division [HCDs] of Spic with the approval of various authorities Mr.
A.C. Muthiah Vice Chairman & President took over as Chairman of SPIC following
the death of his father M.A. Chidambaram.
2001 - Mr M. Madhavan Nambiar has been co-opted as Nominee Director of TIDCO
in place of Mr R. Gopalan.Southern Petrochemical Industries Corporation Ltd [Spics],
the Chennai-based MA Chidambaram flagship company, has decided to pull out of
race for acquiring government stake in the public sector Madras Fertiliser Ltd [MFLs]
Southern Petrochemicals Industries Corporation [Spics] has agreed to reimburse over
Rs 16 crore to Chennai Petroleum Corporation Ltd [CPCLs] following CPCL decision
to withdraw from the over Rs 2,000 crore Arochem project in Tamil Nadu.Mr Ashwin
C. Muthiah has been elected Vice-Chairman of Chennai-based Southern
Petrochemical Industries Corporation Ltd.
2002 Southern Petrochemical Industries Corporation Ltd has informed that Thiru
Babu K Verghese, Deputy Managing Director, is elevated as M D of Comp. in place
of Dr P R Sundaravadivelu who consequent to his retirement on March 31, 2002 has
laid down the Office as Vice Chairman [M Ds]/Director of Company.
2003 SPIC-SMO, the engineering & services division of Company, receives Letter of
Award for supply & construction of double circuit transmission line on the 155 km
stretch between Mysore & Nelamangala in Karnataka-Board approved to issue/allot
2,00,00,000 equity shares of face value of Rs.10/- each, aggregating to Rs.20 crores,at
par, to the Promoters of Company.
2001 SPIC has divested its entire stake in Seeds JV in favour of US major Pioneer for
$17 millionThe pharmaceuticals division of Southern Petrochemical Industries
Corporation Ltd [SPICs], located at Cuddalore, in Tamil Nadu, has received the
approval from Food & Drug Administration of US Mr Ashwin C. Muthiah has been
elected Vice-Chairman of Chennai-based Southern Petrochemical Industries
Corporation limited The Southern Petrochemical Industries Corporation Ltd [SPICs]
has been conferred the ICMA Award 2000 by Indian Chemical Manufacturers'
Association for excellence in management of safety, health & environment Spic Petro
MD quits
2002 -SPIC has sold its 49 per cent share in Caltex-Spic to its joint venture partner
Caltex oil corporation.The Southern Petrochemical Industries Corporation Ltd [Spics],
5
has engaged in the services of two international consultancy majors to advice the
group on business restructuring.-- The Southern Petrochemicals & Industrial
Corporation Ltd has got two Rs 73 crore, contracts from the public sector PowerGrid
Corporation of India Ltd [PGCILs]. The projects will be completed & commissioned
befo the first quarter of 2005The Southern Petrochemical Industries Corporation Ltd
[Spics] has introduced three bio-enzyme formulations for poultry feed intended to
increase the digestibility of feed & improving the feed conversion ratio among poultry
birds Southern Petrochemical Industries Corporation [SPICs] has closed down its
ammonia unit at Tuticorin due to a leakage in the pipeline. Accident occurred when
the repair works were underway on October 1
2004 Jaya gets clean chit in SPIC case- Karaikudi-based Alagappa University on
August 25, 2004, confers the degree of Doctor of Letters In the SPIC group Chairman,
Mr A.C. Muthaiah
VISION
To provide affordable healthcare and industrial application solutions that are world
class in quality, safety and efficacy to improve quality of life
MISSION
To be a leading layer in the field of Fermentation, Biological process and Synthetic
process industry and achieve status of global significance. Developing innovative
processes and products in the areas of unmet needs in life sciences by giving scientific
status and acceptability to pharmaceutical and Enzymes preparations and becoming a
global player by adopting the best contemporary practice
INFRASTRCTURE
6
SPIC COMMISSIONED ITS FIRST SULPHURIC ACID PLANT IN 1975. IT
HAD A CAPACITY OF 470MTPD WITH A SINGLE CONTACT SINGLE
ABSORPTION PROCESS
In 1994, the plant was converted to a Double Contact Double Absorption
process with a capacity of 600 MTPD. The technology upgrade helped to
increase production and to meet the Pollution Control Board's emission
standards. To further meet captive consumption needs, a booster blower was
installed in the year 2000. This helped to increase production by another 150
MT. In the same year, a steam turbo generator of 6 MW was commissioned to
convert steam into power. With allied plants enhancing production, it
increased the need for sulphuric acid, which was being procured externally.
Spic Electric Power Corporation Limited, a new venture promoted by Spic
group, signed a power purchase agreement [PPAs] with the Tamil Nadu
Electricity Board [TNEBs] for its 525 MW fourth stage Tuticorin thermal
power project.
Some of the major improvements are:
 Replacement of improved catalyst in all converter beds IAT & FAT acid
distributors with improved MOC and increase in the packing size to bring
down the pressure dropPressure drop reduction in the furnace, additional air
nozzles in the furnace, removal of.
 SPIC is among India's largest manufacturers of fertilizers. Operating through a
vast India wide distribution network involving more than 12 states and 4000
outlets, we market more than 2 million tonnes of fertilizers annually to
enhance the agricultural productivity and profitability of millions of farmers.
Urea – Complex fertilizers– Di ammonium phosphate (DAP) – Fertilizer–
grade gypsum Muriate of potash – Sulphuric acid, phosphoric acid, and
aluminium fluoride.
 SPIC has sold its 49 per cent share in Caltex-Spic to its joint venture partner
Caltex oil corporation.The Southern Petrochemical Industries Corporation Ltd
[Spics], has engaged in the services of two international consultancy majors to
advice the group on business restructuring.
 Spic Electric Power Corporation Limited, a new venture promoted by Spic
group, signed a power purchase agreement [PPAs] with the Tamil Nadu
Electricity Board [TNEBs] for its 525 MW fourth stage Tuticorin thermal
7
power project.
 Southern Petrochemical Industries Corporation Ltd is setting up a wholly
owned subsidiary [WOSs] in Jebel Ali Free Zone [JAFZs] near Dubai for
manufacture of urea & ammonia.
 Southern Petrochemicals Industries Corporation [SPICs] has signed an
agreement with M.W.Kellogg of United Kingdom for its USD 160 million
fertiliser complex in Dubai, through its wholly owned subsidiary Comp.
named SPIC Fertilisers and Chemicals FZE.
 Fertiliser major Spic has come out with a new set of proposals for merger of
its two ventures, Spic Petrochemicals Ltd [SPCs] & Spic Aromatics &
Chemicals Ltd [SACLs] with Arochem, its joint venture with Madras
Refineries Ltd [MRLs].
 The fertiliser giant, Southern Petrochemical Industries Corporation [SPICs],
has signed an agreement with Universal Investments of New Zealand for
forming a joint venture company, which would process foods & export them.
 Replacement of improved catalyst in all converter beds
 IAT & FAT acid distributors with improved MOC and increase in the packing
size to bring down the pressure drop
 Pressure drop reduction in the furnace, additional air nozzles in the furnace,
removal of unwanted dampers and bellows
 Installation of new higher size super-heater, and up gradation of ducts MOC .
COMPANIES
Associate
Tuticorin Alkali Chemicals and Fertilizers Ltd
Tuticorin Alkali Chemicals and Fertilizers Limited (TFL) was set up in the year 1981
and is the only producer of Soda Ash using Japanese Toyo Soda Dual Process. The
manufacturing unit is located at Tuticorin, Tamil Nadu contiguous to the SPIC Plant.
TFL uses imported Ammonia received through the Tuticorin Port and SPIC /
Greenstar facilities and locally produced salt besides CO2 gas from SPIC Ammonia
Plant. The unit co-produces Ammonium Chloride Fertiliser. The unit also has a
Technical Grade Ammonium Chloride Plant, a Sodium Bicarbonate Plant and an
Ammonium Bicarbonate Plant developed using in house R&D technology. The
8
Company is currently setting up a 174 T/day CO2 Recovery Plant based on the flue
gases from the boilers to improve the stability of operation and enhance production.
Tamilnadu Petroproducts Limited (TPL), a corporate star, was born in the year 1984
with the objective of setting up a 50,000 MTA Linear Alkyl Benzene (LAB) project.
TPL has since imprinted winning hall marks successively over the years in corporate
India and the petrochemical industry in particular. Over more than a decade, TPL
grew in strength, thinking differently, harnessing the resources by laying a
fundamental platform for financial strength and responding to customers innovatively
by bringing in new products and services.TPL has surged ahead for a challenging and
promising future, carrying the business commitment of the parameters, SPIC Limited,
who have diverse interest in fertilizers, petrochemicals and other services and
Tamilnadu Industrial Development Corporation Limited (TIDCO), a state government
enterprise, with prime interest in promoting industries in the state of Tamilnadu. SPIC
boasts of a turnover close to US $800 billion and has been the principal force in TPL
achieving corporate leadership in detergent business.The LAB plant is located in the
Manali Industrial Belt, 25 KMS away from Chennai city. The various infrastructure
facility at Manali, the advantages of a metropolitan city, hi-tech communication
interface and cosmopolitan culture, synergise with the vision of promoters business
plans.TPL continues to march ahead with excellent track record and its achievements
in a short time frame stand out distinctly, propelled by continuous upgradation of
technology, quality human resources and utmost customer satisfaction.Manali
Petrochemicals Ltd (MPL), originally promoted by SPIC, is engaged in the production
and marketing of Propylene Oxide, Propylene Glycols and Polysols in India. Located
at Manali in Chennai, India, MPL is engaged in the manufacturing of the above
petrochemical products. The company operates two grassroot production facilities at
Manali to manufacture Propylene Oxide (PO), Propylene Glycol (PG) and Polyols. It
markets its Polyols with Isocyanates sourced indigenously as well as imported from
Japan and China and the pre-polymers produced at MPL in meeting the demand of
polyurethane industry in India. TPL has surged ahead for a challenging and promising
future, carrying the business commitment of the parameters, SPIC Limited, who have
diverse interest in fertilizers, petrochemicals and other services and Tamilnadu
Industrial Development Corporation Limited (TIDCO), a state government enterprise,
with prime interest in promoting industries in the state of Tamilnadu. SPIC boasts of a
9
turnover close to US $800 billion and has been the principal force in TPL achieving
corporate leadership in detergent business.
Education
The company recognizes education as one of the building blocks of any nation and
considers it as a priority area for its community welfare activities. Sponsoring events
in schools, distribution of educational aids and kits, recognition of achievers in board
exams by presenting awards, free courses on English speaking for rural school
children are some of the key activities taken up by the company under education.
Other initiatives include donation of free notebooks to children by a charity unit
sponsored by SPIC employees and presentation of dictionaries to the toppers of Plus 2
and SSLC of rural schools in and around Tuticorin. Blood group testing and blood
donation camp were organised for which awards were presented by the state
government.
Sports
SPIC understands the bond which sports can create with the communities. In an
endeavour to make a healthy and energetic young generation for the nation, SPIC
organises several District and State level sports tournaments throughout the year.
Competitions including Chess, Volleyball, Cricket and Kabaddi are conducted for
children and youth to give them a platform to bring out their sporting talents. SPIC
also sponsors various sports events
Environment-SPIC has always shown its commitment towards environmental
protection and conservation since its inception. Continuous improvement in every
aspect of its operations through the introduction of new technologies is one of the
many ways in which the company gives focus on environmental protection. Tree
plantation drives are also organised in various places in Tuticorin and SPIC township
to improve green cover and preserve ecological balance. On the arrival of the high-
profile delegation, SPIC Whole-Time Director S R Ramakrishnan welcomed Stalin
and did a walkthrough of the plant. "We are glad to be at the forefront of India's and
Tamil Nadu's march towards clean energy. It is an example of our ESG
(environmental, social, and governance) commitment to progress towards renewable
energy".
SPIC's Captive Floating Solar Power Plant In TN Goes On Stream,
CM Inaugurates Unit PTI.
10
1. A captive floating solar power plant set up by the agri-nutrient and fertilisers
company Southern Petrochemicals Industries Corporation Ltd, popularly known
as SPIC Ltd, formally went on stream at Tuticorin on Monday. Chief Minister M
K Stalin inaugurated the unit, which is claimed to be the country's first and largest
floating power plant in Tamil Nadu.
2. The state-of-the-art 25.3 megawatts DC/22 megawatts AC floating solar power
plant was one of the initiatives of AM International Holdings Ltd, Singapore to
optimise energy production on a sustainable basis in industrial plants. SPIC Ltd is
part of the AM International Holdings Ltd, Singapore.
3. According to company officials, the floating solar projects provide higher yield
than traditional land-based solar plants enhancing energy generation and saving
water from getting evaporated. The floating solar power plant is owned by
Greenam Energy, a wholly-owned subsidiary of AM International.
4. SPIC Ltd worked with France-based floating solar power specialists and global
leader "Ceil and Terre" to design, engineer and anchor the floating islands and the
supply floats. EDAC Engineering Ltd., another company of the AM International
Group, took up the construction activities.
5. Chief Minister M K Stalin said the demand for clean power was the need of the
hour, and Tamil Nadu currently holds the capacity to generate more than 15,500
MW of renewable energy. "SPIC's floating solar power plant project is a welcome
move towards industries in the state using renewable energy resources.
6. Innovations like this are milestones towards achieving the goal of making Tamil
Nadu a leader in renewable energy," he said. SPIC Chairman Ashwin Muthiah
said, "I thank Chief Minister M K Stalin for inaugurating the solar power plant
project. SPIC is continuously working towards effectively harnessing green
energies through innovative projects to reduce carbon footprint."
7. On the arrival of the high-profile delegation, SPIC Whole-Time Director S R
Ramakrishnan welcomed Stalin and did a walk through of the plant. "We are glad
to be at the forefront of India's and Tamil Nadu's march towards clean energy. It is
an example of our ESG (environmental, social, and governance) commitment to
progress towards renewable energy", Muthiah said.The total project cost was Rs
150.4 crore of which a significant portion was attributed to the pandemic during
the construction phase, the company said.
11
8. "The state-of-the-art project marks a significant achievement in the space of solar-
generated energy development. It further establishes our focus on using renewable
energy to build a sustainable future", he said.
9. The floating solar power plant would generate more energy as water facilitates a
cooling effect leading to a higher yield. The project would also help the
environment by curbing water evaporation in the reservoir by 60 per cent, the
company said.
10. Leading fertiliser manufacturer Southern Petrochemical Industries Corporation
Ltd (SPIC) has set up a floating solar project at Thoothukudi in Tamil Nadu at an
estimated cost of ₹150.4 crore.
11. The power plant come up on the storage ponds of SPIC’s campus was inaugurated
by the Tamil Nadu Chief Minister M K Stalin on Monday. The state-of-the-art
25.3 MW DC/22 MW AC floating solar power plant is to optimise energy
production on a sustainable basis.
12. The project aligns with the group’s ESG strategy to implement new-age green
and sustainable technology, according to a statement. Located on the large water
reservoir within the SPIC’s premises, the solar plant can generate 42.0 million
units of electricity per annum. All the power generated would l be consumed by
SPIC and Greenstar Fertilisers. App.(https://apps.apple.com/in/app/business-line-
for-iphone/id855182339)
13. The solar plant is owned by Greenam Energy, a wholly-owned subsidiary of AM
International. SPIC worked with France-based Ceil &Terre to design, engineer,
and anchor the floating islands. EDAC Engineering Ltd, another arm of the AM
International group, undertook the plant’s construction. “SPIC is continuously
working towards effectively harnessing green energies through innovative projects
to reduce carbon footprint.
14. We are glad to be at the forefront of India’s and Tamil Nadu’s march towards
clean energy. It is an example of our ESG commitment to progress towards
renewable energy,” said Ashwin Muthiah, Chairman, SPIC & Founder Chairman,
AM International Group. The new plant will generate more energy as water
facilitates a cooling effect helping in a higher yield.
15. Apart from clean power, the project will help the environment by curbing water
evaporation in the reservoir by about 60 per cent. “The demand for clean power is
12
the need of the hour, and Tamil Nadu currently holds the capacity to generate
more than 15,500 MW of renewable energy. The government is focused on
environmentally sustainable projects and the establishment of a similar facility in
the existing dams and water reservoirs in the state.
SPIC ties up with farmer network to open first Model Fertiliser
Retail Shop
1. Besides selling quality fertilisers at genuine prices, MFRS will provide a range of
consulting and agrirelated services for enhanced farm.Southern Petrochemicals
Industries Corporation Limited (SPIC),an agri-nutrient and fertiliser companies part of
AM International, started a model fertiliser retail shop (MFRS) in Kerala. SPIC is the
first private fertiliser company to set-up an MFRS in the state. The shop has been set
up in association with Horti Research Centre LLP, a dealer with a network of over
4,000 farmers. Idukki district has a potential retail market for plantation crops such as
cardamom, tea, coffee, pepper, and vegetables.
2. Also known as Kisan Suvidha Kendra, the centre introduced the concept of MFRS in
the 2016-17 budget. Besides selling quality fertilisers at genuine prices, MFRS will
provide a range of consulting and agriculturerelated services for enhanced farm
productivity. These include advice on organic and chemical fertiliser usage, soil and
seed testing services among others. The samples collected by the MFRS will be sent
to SAS Tuticorin for testing.
3. ALSO READ: Madras HC refuses to stay LVB-DBS Bank merger, adjourns AUM
Capital plea Ashwin Muthiah, Chairman, SPIC, and AM International, said that the
retail initiative is a way to get closer to our end customer - the farmer and to
understand their needs better. MFRS will provide tailor-made scientific advisory
solutions which will help local farmers increase their yield and maintain better soil
health and nutrition.
4. The availability of quality agri-nutrients at genuine prices will empower the Indian
farmer ensuring better productivity, income, and prosperity.” SPIC digitally enabled
the shop by making available m FMS id and PoS machines. Idukki district was chosen
for setting up the first MFRS as it has a potential retail market for plantation crops
such as cardamom, tea, coffee, pepper, and vegetables. The dealer has a strong team
and network of more than 4000 farmers in the district. SPIC plans to set up another
MFRS in Kerala's Wayanad district in the first quarter of 2021. Wayanad district has
13
good potential for organic fertiliser sales since the main crops cultivated in the area
are banana, tea, coffee, pepper, and ginger.
SPIC TO SWITCH OVERTO NATURAL GAS AS FEEDSTOCK
Over the next 12 months, Southern Petrochemicals Industries Corporation Ltd. (SPIC)
will completely switch overfrom naptha to using natural gas as a feedstock to produce
urea, said a top official. “We will be one of the last few companies in Tamil Nadu to
completely move towards natural gas,” Ashwin Muthiah, chairman, SPIC and AM
International, told The Hindu.
“On Saturday, the last mile connectivity was resolved with our Thoothukudi plant
starting to receive assured supply of natural gas through IOC’s recently-inaugurated
Ramanathapuram-Thoothukudi gas pipeline,” he added.
According to him, SPIC would be one of the anchor customers to benefit from this
pipeline. In the first phase, natural gas would be made available to SPIC from ONGC
gas wells in Ramanathapuram. In the second phase, the gas would be received from
IOC LNG terminal at Ennore in Chennai. “Switching overto natural gas has three
main advantages. Due to availability of cheaper gas, the need for working capital will
come down and maintenance cost also will get reduced as the plant needs to be shut
only for 10-15 days for maintenance against the usual 30-35 days.
Moreover, there is no cause for shutdowns and this will lead to an increase in
production capacity from 6.5 lakh MT to 7.5 lakh MT,” said Manish Nagpal, chief
executive officer, SPIC.
Asserting that they foresaw a healthy bottomline for SPIC, Mr. Manish attributed it to
factors such as moving from high-cost to low-cost fuel, elimination of storage
material, subsidy outflow from the government and availability of gas from the
national grid. SPIC had spent about ₹500 crore on feedstock conversion and forthe
dedicated pipeline among other.
SPIC AGRICULTURAL SERVICES
Soil Management - SPIC’s soil testing laboratory at Tuticorin analyses macro and
micro nutrients, organic carbon, soil texture etc to advise the farmers on corrective
steps to be taken to improve soil health and increase productivity.An exclusive
programme for SOIL HEALTH is in operation through which farmers are given soil
health cards and guided on soil management for five years.Our Mobile Soil Testing
14
van drives visits rural areas to help small farmers to get their soils analysed and get
recommendations on the spot.
Farmer Training Centre - Since it’s founding, SPIC has been organizing
educational and technical programmes for farmers at free of cost across Tamil Nadu.
 Information on current farming practices.
 Skills required for improving the Economical status.
 Technical assistance on seed & soil management and optimal use of fertilizers.
 Monthly motivational training programmes by experts for young farmers.
 Outreach programmes are conducted in every potential village to explain the
package of practices for important crops with special emphasis on micronutrients
and organic fertilizers
Farmer Journals
Tamil bi-monthly, SPIC Pannai Cheithi is among India’s first magazines for the
agrarian grass roots. The objective of the magazine is to provide farmers with the
latest information on agricultural practices and a special focus on high-income
yielding crops.
 Interface workshops to bring together experts, entrepreneurs and farmers. Many
farmers are said to have taken up market-oriented agriculture after attending these
workshops.
 Annual seminar-cum-exhibition to showcase the latest technologies and practices.
 Integrated farming that combines activities such as animal husbandry and poultry
with farming.
 On Saturday, the last mile connectivity was resolved with our Thoothukudi plant
starting to receive assured supply of natural gas through IOC’s recently-
inaugurated Ramanathapuram-Thoothukudi gas pipeline,” he added.
AGRO BIO-TECH CENTRE
SPIC – Agro Biotech Centre (SPIC – ABC) was established at Chennai, Tamil Nadu
with a Plant Tissue Culture Laboratory in the year 1990. Subsequently, the
commercial laboratory was established at Coimbatore, Tamil Nadu in the year 1993.
Plant Tissue Culture Production Facility
The Plant Tissue Culture facility is located with a campus area of 24 acres at
Coimbatore with laboratory production facility producing 7 million plants per year.
SPIC ABC has developed stringent protocols for the multiplication of more than 200
15
varieties across 32 crops. All products are screened for virus infections and other
infectious microbes as part of the quality assurance procedures.SPIC – ABC today
produces and supplies high-yielding, disease-free young plants of Banana, Gerbera
and Ornamentals on a regular basis. The major varieties of Banana that we produce
for commercial cultivation are Grandnaine (G9), Red Banana, and Nendran etc.
Among Gerbera, there are more than 20 varieties covering all major colours like Red,
Pink, Purple, Orange, Yellow, Cream and White.SPIC – ABC is the exclusive
representative for production and marketing of Gerbera plants for M/s. Schreurs, a
Netherlands based flower company. The company is one of the leading and active in
the breeding, propagation, production and marketing of Gerberas and Roses. Visit the
website for more details http://www.schreurs.nl. [Text Courtesy: M/s. Schreurs].
Customer Services SPIC – ABC provides growers with the best agronomical
practices to realise highest returns from Banana Farming and Gerbera Farming. In
addition to field supports, we also offer market intelligence to decide on the markets
for the sale of products
Quality assurance -The rigorous and perfect protocols adopted in the laboratory
and greenhouses has resulted in obtaining accreditation by the Department of
Biotechnology (DBT), Ministry of Science & Technology, Government of India, New
Delhi. We undertake various quality assurance programs to ensure the plants produced
and supplied are true to type, free from plant pathogenic virus to ensure consistently
high levels of yield.
Genetic fidelity test To ensure the plants are true to type, we undertake Genetic
Fidelity Test for the banana plants at National Research Center for Bananas (NRCB),
Trichy.
Virus screening The banana plants are subjected to Virus Screening at various
stages of production. In addition to our in-house screening of virus, we are also
availing the services of National Research Centre for Banana (NRCB), Trichy to
screen our banana plants and cultures for major plant pathogenic viruses affecting
bananas namely:
 BBTV (Banana Bunchy Top Virus)
 BBrMV (Bract Mosaic Virus)
 BSV (Banana Streak Virus)
 CMV (Cucumber Mosaic Virus)
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Similarly, our Gerbera plants are also subjected to screening of pathogenic virus at
various stages of production. For validating our findings, we avail the services of
the University of Agricultural Sciences (UAS), Bangalore. As a result, our
products are of superior quality and free from Virus.Asserting that they foresaw a
healthy bottomline for SPIC, Mr. Manish attributed it to factors such as moving
from high-cost to low-cost fuel, elimination of storage material, subsidy outflow
from the government and availability of gas from the national grid. SPIC had
spent about ₹500 crore on feedstock conversion and forthe dedicated pipeline
among otherMoreover, there is no cause for shutdowns and this will lead to an
increase in production capacity from 6.5 lakh MT to 7.5 lakh MT,” said Manish
Nagpal, chief executive officer, SPIC. Over the next 12 months, Southern
Petrochemicals Industries Corporation Ltd. (SPIC) will completely switch
overfrom naptha to using natural gas as a feedstock to produce urea, said a top
official. “We will be one of the last few companies in Tamil Nadu to completely
move towards natural gas,” Ashwin Muthiah, chairman, SPIC and AM
International, told The Hindu.“On Saturday, the last mile connectivity was
resolved with our Thoothukudi plant starting to receive assured supply of natural
gas through IOC’s recently-inaugurated Ramanathapuram-Thoothukudi gas
pipeline,” he added.
SPIC enters natural gas era G Balachandar Chennai
Fertiliser company looking forward to a sustainable growth phase Southern
Petrochemical Industries Corporation Ltd (SPIC) is entering a new growth era as the
fertiliser company moved from high-cost naphthabased production into natural gas-
based operations, a move which will help company not only grow its topline, but also
achieve sustainable prots going forward. The company, on Saturday, started receiving
supply of natural gas directly from Indian Oil Corporation’s recently-inaugurated
Ramanathapuram - Thoothukudi natural gas pipeline at its Tuticorin factory.The total
natural gas requirement for SPIC is about 1.5 mmscmd (million metric standard cubic
metre per day). In the rst phase, about 60 per cent of the natural gas requirement as
feedstock and fuel will be made available directly to the SPIC plant, transported from
the ONGC gas wells in Ramanathapuram through the IOC pipeline. In the second
phase, the remaining 40 per cent will be supplied from IOC’s LNG facility in Ennore,
near Chennai. This is likely to be achieved by next year. With the supply of natural
17
gas, a cheaper raw material as compared to naphtha, which SPIC was using till now,
storage will be eliminated and the subsidy outow from the Government of India will
reduce and ensure sustained protability for SPIC. A game-changer “This is a game-
changer for several reasons. With the support of IOC, Central and State governments,
it is a great achievement as it helps us align with the trend of Indian government’s
energy-related policies – shift from high to low-cost fuel, while it will also make our
operations environment-friendly. Availability of natural gas gives us sustainability in
term of operations, cost eciencies, protability and also to our stakeholders,” Ashwin
Muthiah, Chairman of SPIC, told BusinessLine. SPIC has invested about ₹500 crore
over the past three years to convert to natural gas-based operations. This capex will
get over by this August/September as the company is in the process of completing the
last leg – establishment of energy-ecient mechanisms — of the programme “With
natural gas as a feedstock, we will be able to improve the production volumes to about
700,000 tonnes from about 620,000 tonnes now as it will require less maintenance and
lower number of shut down days. Also, the cost of nancing will be lower now. With
all these, we will see good improvements in our bottomline,” said Manish Nagpal,
CEO-Fertilizers, SPIC. Covid impact As its operations came under Essential
Commodities Act, SPIC’s operations were not aected during the Covid-19 pandemic
and the company is likely to end this scal with a volume of 620,000 tonnes. “With
natural gas, we hope to reach 650,000 tonnes next scal and will race towards 700,000
tonnes in the subsequent years,” he said. With gas, the company expects its working
position to be better. “Even if the government takes away subsidy part in the future,
we will still be able to produce cheaper than international prices,” said Muthiah.
Never before has the need to focus on biodiversity been more pronounced. At AM
International, we are conscious of our responsibilities towards the well-being of our
planet and people. Sustainability is a core value across our organisations. In the post-
pandemic era, we are committed to continue our efforts to preserve biodiversity.” The
organizing team put up WED banners propagating the theme across the factory
premises. Environmental Engineer, Tamil Nadu Pollution Control Board (TNPCB)
was the guest of honour at the event, which was attended by all employees. World
Environment Day is the United Nations’ flagship day for promoting worldwide
awareness and action for the environment.
18
SPIC and GREENSTAR celebrates WORLD ENVIRONMENT DAY
Mr. S Sathiyaraj, District Environmental Engineer, Tamil Nadu Pollution Control
Board (TNPCB) was the guest of honour at the event. 30thJune 2020,
Chennai:Southern Petrochemicals Industries Corporation Limited (SPIC), one of
India's pioneers and leading agri-nutrient and fertilizers companies and Greenstar
Fertilizers Limited, a leading phosphatic fertilizer manufacturer, recently celebrated
World Environment Day (WED) at SPIC’s Tuticorin facility.
Both the companies are a part of Singapore based AM International Group. Mr. S
Sathiyaraj, District Environmental Engineer, Tamil Nadu Pollution Control Board
(TNPCB) was the guest of honour at the event, which was attended by all employees.
World Environment Day is the United Nations’ flagship day for promoting worldwide
awareness and action for the environment.
This year’s theme, ‘Time for Nature’, called for urgent action to protect biodiversity.
In line with this year’s theme, the event organized by SPIC and Greenstar focused on
creating awareness on the critical linkage between nature and our livelihoods,
prosperity and well-being. At the beginning of the ceremony, Mr. Sathiyaraj
administered the WED pledge to all employees. A tree plantation programme
followed the oath-taking. One hundred saplings were planted as a part of this drive.
An environment-themed quiz was also organized as a part of the celebrations.
[https://1.bp.blogspot.com/-6B- Mr. Ashwin Muthiah, Chairman-SPIC and Founding
Chairman, AM International, said, “Today, more than one million plants and animals
are facing the threat of extinction.
organizing team put up WED banners propagating the theme across the factory
premises. Leaflets containing environment protection measures and the environment
day pledge were distributed as a part of the celebrations. Participants were urged to
protect biodiversity by integrating simple acts in their everyday lives. About Southern
Petrochemicals Industries Corporation Limited (SPIC) (www.spic.in
[http://www.spic.in/] ) Founded in 1969, SPIC over the last four decades has served
the Indian farmer's agri-productivity needs with scientific rigour and environmentally
19
friendly products. One of India's first petrochemicals company with a focus on
fertilizers. Today it is amongst the most recalled agri-brands in rural India trusted by
the Indian farmer. It continues with its mission to empower Indian farmers and
agriculturists with products that not only increase farm productivity and yield but
simultaneously replenish the soil health. With a state-of-the-art modern fertilizer
complex producing 6.2 lakh tons of Neem Coated Urea, the company is a torch-bearer
in India's progress towards national farm productivity and food sufficiency.
SPIC and GREENSTAR commits to protect BIO DIVERSITY
Both the companies are a part of Singapore based AM International Group. Mr. S
Sathiyaraj, District Environmental Engineer, Tamil Nadu Pollution Control Board
(TNPCB) was the guest of honour at the event, which was attended by all employees.
World Environment Day is the United Nations’ agship day for promoting worldwide
awareness and action for the environment. This year’s theme, ‘Time for Nature’,
called for urgent action to protect biodiversity. In line with this year’s theme, the
event organized by SPIC and Greenstar focused on creating awareness on the critical
linkage between nature and our livelihoods, prosperity and well-being. At the
beginning of the ceremony, Mr. Sathiyaraj administered the WED pledge to all
employees. A tree plantation programme followed the oath-taking. One hundred
saplings were planted as a part of this drive. An environment-themed quiz was also
organized as a part of the celebrations. Mr. Ashwin Muthiah, Chairman-SPIC and
Founding Chairman, AM International, said, “Today, more than one million plants
and animals are facing the threat of extinction. Never before has the need to focus on
biodiversity been more pronounced. With the support of IOC, Central and State
governments, it is a great achievement as it helps us align with the trend of Indian
government’s energy-related policies – shift from high to low-cost fuel, while it will
also make our operations environment-friendly. Availability of natural gas gives us
sustainability in term of operations, cost eciencies, protability and also to our
stakeholders,”
20
PRODUCTS OF SPIC LIMITED
21
22
Research Services
Being a recognized R&D unit with a strong technical team lead by experienced
researchers, we can offer starter cultures, technology transfer of our existing
product lines and contract research services to other Tissue Culture Production
Units (TCPU’s) and other commercial organisations.We also offer services to
develop protocols for Micro-propagation of economically important crops. We are
currently offering proven micropropagation protocols up to ex-agar or ready-to-
plant stage for any variety.The typical steps followed are:
 Isolation of high yielding varieties
 Rapid multiplication of selected plants through tissue culture technology
 Field trials of the multiplied varieties
 Supply the plant to the farmers for large-scale cultivation
Infrastructure Facility
The 24-acre campus houses Production Laboratory, Culture Transfer area, Media
preparation area, Bottle Wash area, Stores, Office building etc., covering 5,200 sq
mt. Bare Root plants from the lab are hardened at the greenhouse (700 sq mt) and
at the shade house (28,000 sq mt) to produce healthy ready to plant materials. The
production is supported by a state-of-the-art power back up, Air conditioning unit
of 200 TR and a Boiler of 1,600 kg for steam generation etc. The production
laboratory has Laminar Air Flow Chambers (LAF) to seat 54 operators to work
concomitantly. The campus houses a 4-acre model farm for Banana and 250 sq mt
of Poly house for Gerbera.
Technology
With the state-of-the-art in-house Research & Development and assimilated
knowledge over a period of more than two decades in Plant Tissue Culture, the
laboratory is capable of producing Tissue Culture Plants for 32 crop plants at a
very reasonable cost within minimum possible time. The technological
advancement and adhering to strict production protocols has been appreciated by
the Department of Bio-Technology, Government of India
Skilled Manpower
The higher production levels accompanied by high-quality standards are a result
of experienced professional staff ably supported by young graduates. SPIC ABC
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continues to absorb and integrate the latest technological advancements in Plant
Tissue Culture Technology.
Research and Development
Research and Development (R&D) refers to two intertwined processes of research (to
identify new knowledge and ideas) and development (turning the ideas into tangible
products or processes). We undertake R&D in order to develop new procedures,
products, to improve the economics of production and add value to our products.
SPIC Agro Biotech Centre has an in-house Research and Development department
equipped with the state-of-art-facility to meet international standards. This division
plays a pivotal role in setting the production protocols, sterility standards,
improvement in technology, product standards and laying down standard operating
procedures to ensure the highest quality of the products. The Plant Tissue Culture
facility is located with a campus area of 24 acres at Coimbatore with laboratory
production facility producing 7 million plants per year. SPIC ABC has developed
stringent protocols for the multiplication of more than 200 varieties across 32 crops.
All products are screened for virus infections and other infectious microbes as part of
the quality assurance procedures. SPIC – ABC today produces and supplies high-
yielding, disease-free young plants of Banana, Gerbera and Ornamentals on a regular
basis. The major varieties of Banana that we produce for commercial cultivation are
Grandnaine (G9), Red Banana, and Nendran etc. Among Gerbera, there are more than
20 varieties covering all major colours like Red, Pink, Purple, Orange, Yellow, Cream
and White. SPIC – ABC is the exclusive representative for production and marketing
of Gerbera plants for M/s. Schreurs, a Netherlands based flower company. The
company is one of the leading and active in the breeding, propagation, production and
marketing of Gerberas and Roses.
SPIC Agro Biotech Centre has signed a Memorandum of Understanding with Indian
Council of Agricultural Research – Central Plantation Crop Research Institute,
Kasaragod (ICAR-CPCRI) for technology transfer and production of Vermicompost
from fallen coconut leaves and urea free coir pith composting. Vermicompost is an
organic input for farming and known to increase soil fertility status.
24
MOU WITH ICAR-CPCRI FOR PRODUCTION OF ARE CANNOT
THROUGH TISSUE CULTURE
SPIC Agro Biotech Centre has signed a Memorandum of Understanding with Indian
Council of Agricultural Research – Central Plantation Crop Research Institute,
Kasaragod (ICAR-CPCRI) for transfer of farming technology in the production of
Arecanut plants through Tissue Culture. The institute has developed tissue culture
production protocol for Arecanut dwarf variety plants. The dwarf variety Arecanut
plants will be produced through the technology transfer and supplied to the growers.
SPIC ABC is the first company to produce the dwarf variety Arecanut plants through
Tissue Culture
NOMINATION AND REMUNERATION POLICY
The Nomination and Remuneration Committee (NRC) constituted under the
Companies Act, 2013 (the Act) and the Listing Agreement is to guide the Board to
identify persons who are qualified to become Director and who may be appointed in
Sr. Management and recommend to the Board the appointment and removal of
Director, KMP and Senior Management Personnel as well in accordance with the
criteria laid down for determining qualification, position attribute and independence
of a Director and recommend to the Board a Policy relating to remuneration of
Director, Key Managerial Personnel and other employees. The Nomination and
Remuneration Policy (Policy) of Southern Petrochemical Industries Corporation
Limited (SPIC) has been formulated with the objective of guiding the Board in
identifying talent, recognise talent and retain talent for achieving Organisational goals
with growth for all the Employees and Stakeholder value enhancement.
SPIC acknowledges that it is important to provide a mix of reasonable remuneration,
an atmosphere congenial for decision making by the Directors / Sr. Management
Personnel and working atmosphere to the Employees. The Policy applies to the Board
of Directors, Key Managerial Personnel, Senior Management and the Employees of
the Company. *“Senior Management’’ shall mean the officers and personnel of the
listed entity who are members of its core management team, excluding the Board of
Directors, and shall also comprise all the members of the management one level
below the Chief Executive Officer or Managing Director or Whole Time Director or
Manager (including Chief Executive Officer and Manager, in case they are not part of
the Board of Directors) and shall specifically include the functional heads, by
25
whatever name called and the Company Secretary and the Chief Financial Officer.
The Whole-time Director shall finalise the list of Senior Management based on the
said criteria. Criteria for appointment of Independent Directors / Non-Executive
Directors The proposed appointee as Independent Director shall meet the criteria
specified in the relevant provisions of the Companies Act, 2013 and the Listing
Agreement with stock exchanges. He shall declare his independent status prior to his
appointment to the Board and maintain the same during his tenure as an Independent
Director. The Independent Director and the Non- Executive Director shall possess
adequate qualification, necessary skills, and expertise and business experience
including board procedures.
ABOUT GREENSTAR FERTILIZERS

Greenstar Fertilizers Limited is a leading manufacturer and marketer of fertilizers in
India. Greenstar manufactures phosphatic fertilizers from Tuticorin in Tamil Nadu.
The company is also a brand launch platform for organic and inorganic fertilizers that
stand up to its tough quality certification process. Greenstar also imports fertilizers for
sale in India.Greenstar Fertilizers Limited is a leading manufacturer and marketer of
fertilizers in India. Greenstar manufactures phosphatic fertilizers from Tuticorin in
Tamil Nadu. The company is also a brand launch platform for organic and inorganic
fertilizers that stand up to its tough quality certification process. Greenstar also
imports fertilizers for sale in India. A public company since July 2011, Greenstar has
acquired the phosphatics manufacturing assets of SPIC, an enduring fertilizer brand in
India, bringing it a significant strength in phosphatics. This will be in line with the
company’s commitment to be a value-for-money proposition to the Indian farmer.
There are added environmental benefits to this approach since over-fertilization is
avoided. With a nutrient-based subsidy regime in place in India, Greenstar expects to
benefit from the nutrient specific customization, both to maximize its returns and
enable near-exact fertilizer applications.
SPIC acknowledges that it is important to provide a mix of reasonable remuneration,
an atmosphere congenial for decision making by the Directors / Sr. Management
Personnel and working atmosphere to the Employees. The Policy applies to the Board
of Directors, Key Managerial Personnel, Senior Management and the Employees of
the Company.
26
In addition to fertilizers, Greenstar has on its portfolio other farm inputs such as
Chemical Fertilizers, Water Soluble Fertilizers, Organic Manures, Micro Nutrients,
Secondary Nutrients, Plant Growth Regulators and Industrial Chemicals. The
objective is to offer a bouquet of dependable brands to Indian farmers to maximise the
value of their yields. Greenstar is fortifying its R&D efforts in a bid to offer
customised farm inputs to Indian farmers based on soil type and climate patterns in
any given geography. This will be in line with the company’s commitment to be a
value-for-money proposition to the Indian farmer. There are added environmental
benefits to this approach since over-fertilization is avoided. With a nutrient-based
subsidy regime in place in India, Greenstar expects to benefit from the nutrient
specific customization, both to maximize its returns and enable near-exact fertilizer
applications.
27
MARKET OPPORTUNITIES
Agriculture plays a vital role in India’s economy. Over 58 percent of the rural
households depend on agriculture as their principal means of livelihood. Agriculture,
along with fisheries and forestry, is one of the largest contributors to the Gross
Domestic Product (GDP). Since agriculture is a very important sector it goes without
saying that the fertilizer industry is one which the Indian economy cannot do without.
The primary objective of this industry is to ensure the inflow of both primary and
secondary nutrients required for crop production in the desired quantities. The success
of the agricultural sector in India is largely dependent on the fertilizer industry. The
benchmark that the food industry in India has set is mainly due to the many
technically competent fertilizer producing companies in the country. The combined
output of Nitrogenous (N) and Phosphatic (P) Chemical fertilizers has increased from
a modest level of 0.02 million tonnes in nutrient terms in 1951-52 to around 51.02
million tonnes during 2017-18.On the consumption side too, use of plant nutrient per
hectare of the gross cropped area has registered a quantum increase from 0.49 Kg in
1951-52 to around 140 Kg. Rising private participation in Indian agriculture and use
of information technology in the agriculture industry has increased food grain
production to 280 million tonnes (MT) in the 2017-18 crop year.The report from
Department of Fertilizers also shows, by the year 2018-19, fertilizer demand in the
country is projected to remain stable at 510 lakh tonnes(51.03 million tonnes) with
30.31 million tonnes of urea, 8.98million tonnes of DAP, 8.54 million tonnes of NP &
NPK and 3.19million tonnes of MOP.With low per hectare consumption of
phosphatics fertilizers as compared to other developing countries (300 kg/hectare), a
huge gap in the demand and supply of phosphatics fertilizer exists, which is met by
imports to the tune of 40 ~ 45% of demand. Greenstar sees this gap as a huge
opportunity to augment its business process. The company is committed to meeting
the Indian fertilizers demand and driving its operations to a sustainable level in the
long term.
GOVERNANCE
Greenstar has a firm belief in creating an environment of compliance in meeting
statutory regulations and standards and in maintaining high standards of corporate
governance and ethical practices in its day to day business operations. Preserving the
code and ethics on which the company has been built is as important as achieving
28
superior financial results.Greenstar is committed to maximising shareholder value
without diluting the efficacy of its culture which is built on transparency,
accountability and integrity. The board has empowered the top management to ensure
proper compliance on all key elements of corporate governance like supervision,
internal controls, risk management.
CODE OF CONDUCT
Greenstar Fertilizers Limited [Greenstar] is dedicated to conducting its business in
consistence with the highest standards of business ethics with an obligation to its
employees, shareholders, customers, suppliers, community representatives and other
business contacts to be honest, fair and forthright in all of business activities. As a
director / employee of the Company, one faces every day with a number of business
decisions. It is our personal responsibility to uphold the Company’s high standards of
business ethics in each and every one of the situations. It is not possible for this Code
of Business Conduct and Ethics (the Code) to address every situation that is faced. If
good business judgement and experience, are used the business decisions are not
likely to raise ethical issues. When faced with an ethical issue, this Code will serve as
a guide to help in making the right choice. The guidelines set out in this Code are to
be followed at all levels of this Organization by the directors, officers and employees
to uphold the core values and conduct the business honestly, fairly and with integrity.
Applicability of the Code – Who, When and Where? Who The Code of Conduct
applies to all the directors, officers and employees of GREENSTAR. We refer to all
persons covered by this Code as “company employees” or simply “employees”. The
Comp. also acquisitioned two chemical tankers 'SPIC PEARL' and 'SPIC EMERALD'
for regular delivery of Phosphoric Acid from overseas supplies to its plants. The
Comp. has also placed an order for a modern gas carrier. The Comp. has promoted [is]
Tamilnadu Petro products Ltd in the joint sector alongwith TIDCO [iis] SPIC
Electronics and Systems Ltd for manufacture of IC Chips and [iiis] Manali
Petrochemical Ltd for manufacture of Propylene Oxide, Propylene Glycol and Polycol.
The Comp. has been choosen as the Copromoter for Rs 840 crore Aromatics Project
being setup in the joint sector by Madras Refineries Ltd. The Heavy Chemical
Division of Comp. situated at Manali is proposed to be transferred/disposed off as a
`going concern' on such conditions after taking into consideration the result of an
independent valuation study. Spic has bagged the Award of Honour for year 1999
29
from the National Safety Council of India, -VR Aravind managing director of Gulf
SPIC Contracting Comp. WLL Kuwait will take over as the managing director of
SPIC Petro. - Tamilnadu Petroproducts [TPLs] has acquired the heavy chemicals
division [HCDs] of Spic with the approval of various authorities Mr. A.C. Muthiah
Vice Chairman & President took over as Chairman of SPIC following the death of his
father M.A. Chidambaram.
CORPORATE SOCIAL RESPONSIBILITY POLICY OF
GREENSTAR FERTILIZERS LIMITED(SPIC)
The “CSR Policy” defines the activities to be undertaken by the Company as determined by
the CSR Committee and approved by the Board of Directors from such projects or programs
relating to activities specified in Schedule VII, excluding activities undertaken in pursuance to
normal course of business of the Company and includes guiding principles for selection,
implementation and monitoring of activities as well as formulation of the annual action plan
and as may be defined under the Act and rules made thereunder from time to time.
I. CONSTITUTION:
1. The Board of Directors of Greenstar Fertilizers Limited (“the Company”) at their Meeting
held on November 3, 2014 constituted a Committee of the Board with the nomenclature
“Corporate Social Responsibility Committee” (“the Committee”).
2. The Committee shall act in accordance with the terms specified in Section 135 of the
Companies Act, 2013 read with Companies (Corporate Social Responsibility Policy) Rules,
2014.
II. DEFINITIONS:
a. “Act” means Companies Act, 2013 including any statutory modification or re- enactment
thereof; b. “Board” means Board of Directors of the Company.
c. “Corporate Social Responsibility” means the activities undertaken by the Company in
pursuance of its statutory obligation laid down in section 135 of the Act and Rules made there
under from time to time.
d. “CSR Committee” means Corporate Social Responsibility Committee of the Board.
III. ACTIVITIES TO BE UNDERTAKEN AND MODE OF EXECUTION &
GUIDING PRINCIPLES:
1. The CSR Committee undertakes one or more activities, as set out in the Schedule VII of the
Companies Act, 2013 (as amended from time to time) as its projects for CSR initiatives.
2. The Committee intends to carry out its CSR activities through its own personnel/
department established with persons qualified to undertake such activities. The Company
engages the services of AM Foundation, CSR arm of the Group with an established track
30
record of at least three financial years of having done CSR activities within the norms
prescribed under the Companies (Corporate Social Responsibility Policy) Rules, 2014.
3. The Company may also collaborate with its Group/Associate Companies for undertaking
the said activities.
4. The Company shall give preference to the local area and areas around it where it operates
for spending the amount earmarked for CSR activities.
5. The Company may undertake CSR activities through implementing agencies as defined in
Rule 4 of the amended Companies (Corporate Social Responsibility Policy) Rules, 2014.
IV. EXPENDITURE TO BE INCURRED
The Committee shall determine an amount equivalent to 2% of the average net profits made
during the three immediately preceding financial years in accordance with the provisions of
Section 198 and shall thereafter prepare a budget of expenditure to be applied for the CSR
projects. The administrative overheads, which forms part of the CSR expenditure shall not
exceed 5%, or such amount as may be notified by the Ministry of Corporate Affairs, of the
total CSR expenditure of the Company for the financial year. Provided if the company spends
an amount in excess of the aforesaid requirements, such excess amount may be set off against
the requirement to spend under sub-section
(5) of section 135 up to immediate succeeding three financial years subject to the conditions
that–
(i) the excess amount available for set off shall not include the surplus arising out of the CSR
activities, if any,
(ii) the Board of the company shall pass a resolution to that effect. The Surplus arising out of
the CSR projects or programmes shall not form part of the business profit of the Company and
shall be ploughed back into the same project or shall be transferred to the Unspent CSR
Account and spent in pursuance of CSR policy and annual action plan of the company or
transfer such surplus amount to a Fund specified in Schedule VII, within a period of six
months of the expiry of the financial year.
V. MONITORING
The Committee shall through its members monitor the expenditure incurred vis-à-vis the
budgets and moneys provided to its departments or through AM Foundation.
VI. IMPLEMENTATION
The Board/CSR Committee may decide to implement the CSR Projects through AM
Foundation or through such other implementation agencies as may be decided from time to
time.
VII. ANNUAL ACTION PLAN:
The CSR Committee and or the Board shall have regard to the Annual CSR budget or carry
forward amount, if any will be considered for various CSR projects and submit the projects
31
for adoption. While deciding on the project, the CSR Committee/Board shall also have to take
into account the duration of project, project timelines, extension of timelines and such other
matters as may be required in this regard.
VIII. REPORTING
The Board’s Report shall include an annual report on CSR activities containing particulars as
specified by the Ministry of Corporate Affairs.
IX. PUBLICATION OF THE POLICY:
The CSR policy recommended by the Committee and approved by the Board along with
Composition of CSR Committee and CSR projects approved by the Board shall be displayed
on the Company’s website. While deciding on the project, the CSR Committee/Board shall
also have to take into account the duration of project, project timelines, extension of timelines
and such other matters as may be required in this regard
TN to open 5-6 mini clinics in each assembly constituency: CM
Tamil Nadu Chief Minister K.Palaniswami on Wednesday said the government will
set up 2,000 mini health clinics.Talking to reporters in Tuticorin, he said the
government will set up 2,000 mini health clinics, or about five to six clincs in each
assembly constituency.
The clinics will be manned by a doctor, nurse and an assistant and will be open in the
evening. The poor can take treatment here, Palani swami said.
He also said that the state government has reduced its liquor shops by 35-40 per cent.
On the industries front, Palani swami said the SPIC group’s Greenstar Fertilisers is
investing Rs 1,525 crore for expansion of sulphuric acid production in Tuticorin.
Similarly, SPIC will complete its Rs 3,706 crore fertiliser expansion project by April
2021.
He said the state government has allocated 600 acres for expansion of Tuticorin
airport and the compensation has been paid. Palani swami said another 106 acres is
required for the airport expansion and the government is taking necessary action for
the purpose.
‘1 MILLION ANIMALS & PLANTS FACE EXTINCTION’
World Environment Day is the United Nations’ flagship day for promoting worldwide
awareness and action for the environment. This year’s theme, ‘Time for Nature’,
called for urgent action to protect biodiversity. In line with this year’s theme, the
event organised by SPIC and Greenstar focused on creating awareness on the critical
linkage between nature and our livelihoods, prosperity and well-being. Sathiyaraj
32
administered the WED pledge to all employees. A tree plantation programme
followed the oath-taking. One hundred saplings were planted as a part of this drive.
An environment-themed quiz was also organised as a part of the celebrations.
Ashwin Muthiah, chairman-SPIC and founding chairman, AM International, said,
“Today, more than one million plants and animals are facing the threat of extinction.
clinics will be manned by a doctor, nurse and an assistant and will be open in the
evening. The poor can take treatment here, Palani swami said.He also said that the
state government has reduced its liquor shops by 35-40 per cent.On the industries
front, Palani swami said the SPIC group’s Greenstar Fertilisers is investing Rs 1,525
crore for expansion of sulphuric acid production in Tuticorin.
Similarly, SPIC will complete its Rs 3,706 crore fertiliser expansion project by April
2021. Who, When and Where? Who The Code of Conduct applies to all the directors,
officers and employees of GREENSTAR. We refer to all persons covered by this
Code as “company employees” or simply “employees”. The Comp. also acquisitioned
two chemical tankers 'SPIC PEARL' and 'SPIC EMERALD' for regular delivery of
Phosphoric Acid from overseas supplies to its plants. The Comp. has also placed an
order for a modern gas carrier. The Comp. has promoted [is] Tamilnadu Petro
products Ltd in the joint sector along with TIDCO [iis] SPIC Electronics and Systems
Ltd for manufacture. He also said that the state government has reduced its liquor
shops by 35-40 per cent. On the industries front, Palani swami said the SPIC group’s
Greenstar Fertilisers is investing Rs 1,525 crore for expansion of sulphuric acid
production in Tuticorin. Similarly, SPIC will complete its Rs 3,706 crore fertiliser
expansion project by April 2021.He said the state government has allocated 600 acres
for expansion of Tuticorin airport and the compensation has been paid. Palani swami
said another 106 acres is required for the airport expansion and the government is
taking necessary action for the purpose.
33
CHAPTER 2
MEMORANDUM OF
ASSOCIATION
AND
ARTICLES OF
ASSOCIATION
34
COMPANIES ACT 2013
COMPANY LIMITED BY SHARES
MEMORANDUM OF ASSOCIATION
OF
SPIC LIMITED
TableA- MEMORANDUM OF ASSOCIATION OF A COMPANY
1. The name of the company
2. The registered office of the company will be
situated in State of
(a) The objects to be pursued by the company on its incorporation are
(b) Matters which are necessary for furtherance of the objects specified in
clause
3. The liability of the member(s) is limited.

4. Every member of the company undertakes to contribute:
5. To the assets of the company in the event of its being wound up while he is
a member, or within one year after he ceases to be a member, for payment of
the debts and liabilities of the company or of such debts and liabilities as
may have been contracted before he ceases to be a member
6. We, the several persons, whose names and addresses are subscribed, are
desirous of being formed in to a company in pursuance of this memorandum
of association: I, whose name and address is given below, am desirous of
forming a company in-pursuance of this memorandum of association.
35
TableB MEMORANDUM OF ASSOCIATION OF A COMPANY
LIMITED BY GUARANTEE AND NOT HAVING A SHARE
CAPITAL
1. The name of the company is

3. (a)The objects to be pursued by in corporation
are:
4. (b)Matters which are necessary for furtherance of the objects specified in

clause

may have been contracted before he ceases to be a member
desirous of being formed into a company inpursuance of this memorandum of
,
association: I, whose name and address is given below, am desirous of forming
a company inpursuance of this memorandum of association:
TableC-MEMORANDUM OF ASSOCIATION OF A COMPANY

LIMITED BY GUARANTEE AND HAVING A SHARECAPITAL
situated in the
(a) The objects to be pursued by the company
on its incorporation are
(b) Matterswhicharenecessaryforfurtheranceoftheobjectsspecifiedinclausea
re:

36
a. To the assets of the company in the event of its being wound up
while he is a member,or within one year after he ceases to be a
member, for payment of the debts and liabilities of the company or
of such debts and liabilities as may have been contracted before he
ceases to be a member;and
b. To the costs, charges and expenses of windingup (and for the
adjustment of the rights of the contributories among themselves),
such amount as may be required, not exceeding
5. The share capital of the company is rupees, divided in We, the several persons,
whose names, addresses are subscribed, are desirous of being formed into a
company in pursuance of this memorandum of association and we respectively
agree to take the number of shares in the capital of the company set against our
respectivenames: I, whose name and address is given below am desirous of
forming a company in pursuance ot his memorandum of association and agree
to take all the shares in the capital of the company:
TableD- MEMORANDUM OF ASSOCIATION OF A UNLIMITED

COMPANY AND NOT HAVING SHARECAPITAL
3. The objects to be pursued by the company on its
incorporation are:
4. Matters which are necessary for furtherance of the objects specified in clause
are:
5. The liability of
members is unlimited.
We, the several persons, whose names and addresses are subscribed are
desirous of being formed into a company inpursuance of this memorandum
of association:
6. I,whose name and address is given below,am desirous of forming a company
inpursuance of this memorandum of association:
37
TableE- MEMORANDUM OF ASSOCIATION OF AN
UNLIMITED COMPANY AND HAVING
SHARECAPITAL

situated in the State of
(a) The objects to be pursued by the company
on its incorporation are:
(b) Matters which are necessary for furtherance of the objects specified in
clause:
3. The liability of the member(s)is unlimited.

4. The share capital of the company is rupees,divided into
5. We, the several persons, whose names, and addresses are subscribed, are
desirous of being formed into a company in pursuance of this memorandum
of association and we respectively agree to take the number of shares in the
capital of the company set against our respective
6. I, whose name and address is given below, am desirous of forming a
company in pursuance of this memorandum of association and agree to take
all the shares in the capital of the company
7. The sharecapital of the company is rupees, divided in We, the several
persons, whose names, addresses are subscribed, are desirous of being
formed into a company in pursuance of this memorandum of association and
we respectively agree to take the number of shares in the capital of the
company set against our respective names:
all the shares in the capital of the company:
a member ,or within one year after he ceases to be a member, for payment of
may have been contracted before he ceases to be a member.
10. The company in general meeting may from time to time increase its capital
by the creation of new shares of such amount as may be deemed expedient.
38
11. The company, may from time to time by special resolution ,reduce its capital
and any capital redemption reserve account or share premium account in any
manner and with and subject to any incident authorized and consent
required by law.
(a) To the costs, charges and expenses of winding up (and for the
adjustment of the rights of the contributories among themselves),
such amount as may be required, not exceeding
12. The share capital of the company is rupees, divided in We, the several persons,
whose names, addresses are subscribed, are desirous of being formed into a
company in pursuance of this memorandum of association and we respectively
agree to take the number of shares in the capital of the company set against our
respective names: I, whose name and address is given below am desirous of
forming a company in pursuance ot his memorandum of association and agree
to take all the shares in the capital of the company.
all the shares in the capital of the company
14. The share capital of the company is rupees, divided in We, the several
persons, whose names, addresses are subscribed, are desirous of being
formed into a company in pursuance of this memorandum of association and
we respectively agree to take the number of shares in the capital of the
company set against our respective names:
desirous of being formed in to a company in pursuance of this memorandum
of association: I, whose name and address is given below, am desirous of
forming a company in-pursuance of this memorandum of association.
may have been contracted before he ceases to be a member.
39
COMPANIES ACT 2013
COMPANY LIMITED BY SHARES
ARTICLES OF ASSOCIATION
OF
SPIC LIMITED
ARTICLES OF ASSOCIATION OF COMPANY LIMITED BY SHARES
INTERPRETATION
“THE ACT” means the companies act, 2013and includes rules made there
under and any statutory modification ,classification and re-enactment
thereof for the time being in force and the term shall be deemed to refer to
the applicable section thereof which is relatable to the relevant article in
which the said term appears in these articles and any previous company
law ,so far as may be applicable .
SHARE CAPITAL AND VARIATION OF RIGHTS
The authorized share capital of the company be such amounts and be
divided into such shares as may,from time to time ,with power to
increase ,reduce and /or reclassify the authorized share capital in
accordance with the companies act ,rules,regulations and legislative
provisions for the time being enforce in that behalf.
Subject to the provisions of these articles ,the shares shall be under the
control of the board who may allot or otherwise dispose of the same to such
persons on such terms and conditions ,at such times either at par or at a
premium ,and for such consideration as the board thinks fit.provided
that ,where at any time it is proposed to increase the subscribed capital of
the company by the allotment of Further shares ,then subject to the
provisions of section 62 of the act .provided further that the option or right
40
to call of shares not to be given to any person except with the sanction of the
company in general meeting.
Subject to the provisions of these articles ,the company shall have power to
issue preference shares carrying a right to redemption out of profits which
would otherwise be available for dividend ,or out of the proceeds of a fresh
issue of shares made for the purposes of such redemption ,or liable to be
redeemed at the option of the company ,and the board may subject to the
provisions of section 55 of the act exercise such power in a such manner as
it thinks fit.
If the company shall offer any of its shares to the public for subscription;
(1) no allotment thereof shall made ,unless the amount stated in the
prospectus as the minimum subscription has been subscribed and the
sum payable on application thereof has been paid to
(2) and received by the company;but this provision shall no longer apply
after the first allotment
(3) of shares offered to the public for subscription
(4) the amount payable on application on each share shall not to be less
than 5percent of nominal amount of the shares or such other
percentage or amount as may be specified by the security
(5) and exchange board of india;and
(6) the company shall comply with the provisions of subsection (3)of
section 40 of the act.
The joint –holders of a share shall be severally as well as jointly liable for
the payment of all installments and calls due in respect of such share.
ALTERATION OF CAPITAL
The company in general meeting may from time to time increase its capital
by the creation of new sharesof such amount as may be deemed expedient.
The company ,may from time to time by special resolution ,reduce its
capital and any capital redemption reserve account or share premium
account in any manner and with and subject to any incident authorized and
consent required by law.
Subject to the provisions of section 61 of the act the company in general
meeting may from time to time increase its authorized share capital by such
41
amount as it thinks expedient consolidate and divide all or any of its share
capital ,into shares of larger amount than its existing shares; convert all or
any of its fully paid up shares into stock,and reconvert that stock into fully
paidup shares of any Denominations cancel any shares which at the date of
the pasting of the resolution ,have not been taken or agreed to be taken by
any person and diminish the amount of its share capital by the amount of
shares so cancelled.
GENERAL MEETINGS
The board may ,whenever it thinks fit,a call a general meeting and it
shall ,on the requisition of such number of called members as hold ,at the
date of deposit of the requisition ,not less than one-tenth of such of the
paidup capital of the company as that date carried the right of voting ;in
regard to the matter to be considerd at the meeting,forth with proceed to call
an extra –ordinary general meeting and in the case of such requisition the
provisions of section 100 of the act shall apply.
PROCEEDINGS AT GENERAL MEETINGS

The ordinary ,business of an annual general meeting shall be to receive and
consider the profit and loss account ,the balance sheet and the reports of the
directors and of the auditors ,to elect director in the place of those retiring
by rotation;to appoint auditors and fix their remuneration and to declare
dividends .All other business transacted at an annual General meeting and
all business transacted at any other general meeting shall be deemed special
business.
VOTING RIGHTS
(1 )save as hereinafter provided ,on a show of hands every ,member present
in person and being a holder of equity shares shall have one vote and
every person as a duly authorized representatives of a body corporate, being
a holder of equity shares ,if he is entitled to vote in .his own right, shall have
one vote .
(2) Save as hereinafter provided ,on a poll the voting rights of a holder of
equity shares shall be its pecified in section 108 of the act .And a member
shall vote only once .
42
(3) Save hereinafter provided ,on a poll the voting rights of a holder of
equity shares shall be its specified in section 109 of the act.
(4) No company or body corporate shall vote by proxy so long as a
resolution ,of its board of directors under the provisions of section 113 of
the act is in force and the representative named in such resolution is present
at the general meeting at which the vote by proxy is tendered.
BOARD OF DIRECTORS
Until otherwise determined by special resolution the number of directors of

the company shall not be less than two nor more than fifteen until otherwise
determined by the company in general meeting each director (other than a
managing director and a whole time director) shall be entitled to receive out
of the funds of the company for each meeting of the board or committee
thereof attended by him such fee as may from time to time determined by
the board but not exceeding such sum as may from time to time be
prescribed by or under the act and applicable to the company. The directors
shall also be entitled to be paid their responsible travelling and hotel and
other expenses incurred in attending and returning from board and
committee meetings or otherwise incurred in the execution of their duties as
directors. A director of this company may be or become a director of any
other company promoted by this company or in which it may be interest as
a vendor, shareholder or otherwise and no such director shall be accountable
for any benefits received as a director or member of such company except in
so far as section 188 of the act may be applicable
PROCEEDINGS OF THE BOARD

A director of this company may be or become a director of any other
company promoted by this company or in which it may be interested as a
vendor, shareholder or otherwise and no such director shall be accountable
for any benefits received as a director or member of such company except in
so far as section 188 of the act may be applicable The board may elect its
chairman of its meetings. The chairman shall be entitled to take the chair at
any meeting of the board. If no such chairman is appointed or if at any
meeting of the board chairman be not present at the time appointed for
43
holding the meeting, directors present shall choose one of their number to
be chairman of such meeting.
ACCOUNTS
The company in general meeting may declare a dividend to be paid to the
members according to their rights and interest in the profits, subject to the
provisions of section 123 of the act, fix the time for payment.
WINDING UP
If the company shall be wound up and the assets available for distribution
among the member as such shall be insufficient to repay the whole of the
paid up capital such assets shall be so that as nearly as may be the losses
shall be borne by the members in proportion to the capital paid up by them
respectively and if in a winding-up the asset available for distribution
among the members shall be more than sufficient to represent whole of
the capital paid-up at the commencement of the winding up, the excess
shall be distributed amongst the member. A director of this company may
be or become a director of any other company promoted by this company
or in which it may be interest as a vendor, shareholder or otherwise and no
such director shall be accountable for any benefits received as a director or
member of such company except in so far as section 188 of the act may be
applicable
44
CHAPTER 3
DEPARTMENTATION
45
DEPARTMENTS OF SPIC LIMITED
 HUMAN RESOURCE DEPARTMENT
 FINANCE DEPARTMENT
 MARKETING&SALES DEPARTMENT
 PRODUCTION DEPARTMENT
 PURCHASE DEPARTMENT
 CIVIL DEPARTMENT
 SAFETY DEPARTMENT
 TRAINING&DEVELOPMENT DEPARTMENT
 OPERATIONS DEPARTMENT
HUMAN RESOURCE DEPARTMENT

HR Department acts as the face of the company.As it deals with the
employees.The personnel department handles all staff matters in the
organization. It is headed by the personnel manager, Mr. J.SIVAKUMAR
who is assisted by the personnel assistants. Specifically, the personnel
department performs the following functions:
 It is responsible for the recruitment of staff for the organisation through
interviews and other selection methods.
 It is also responsible for staff training and development in the organization.
 HR plays an important role in creating and implementing health and safety
regulations.
 Making these regulations part of the company culture is one of the main
functions of HR.
 It deals with staff welfare and improved condition of service.It handles all
industrial disputes
 and other labour related matters in the organization.
 The human resources department manages employee-related concerns and
needs within an organization. This department performs various tasks and
responsibilities aimed at strengthening the workforce and promoting a
positive workplace environment.
46
 These activities can help improve employee performance, morale and
participation at work. When employees enjoy coming to work, it can help
boost their productivity and reduce turnover rates. HR professionals also
provide structure to the organization by developing and implementing
policies and procedures that protect employees and meet organizational
objectives.
FINANCE DEPARTMENT
The accounting department is responsible for keeping the records of all the
financial transactions in the organization. It is headed by the chief
accountant Mr. K.S GANESH and assisted by other accountants and
accounts clerk. The following functions are carried out by the department :
 It prepares and pays out wages and salaries to workers in the organization.
 It keeps the record of the organizations accounting and financial activities.
 It ensures proper and judicious spending of the resources by controlling the
budget of the organization
 In collaboration with the production and marketing department, it assists in
determining the sales price of goods produced.
 The finance department plays a significant part in acquiring, updating and
maintaining the latest operations systems to improve efficiency
MARKETING &SALES DEPARTMENT
The marketing department works hand in hand with the production
department by changing the production department into money for the
organization. The head of the department is Mr. ADAIKALAM, who inturn
is incharge for various functions associated with the department. The
department performs the following functions,
 It carries out regular market survey to know what the customers needs and
feed the production department with the information collected
 It works closely with the research and development department to design
and package newproducts for the organization .
 It gives attractive colours and names to old products to increase their sales
values.
 It is responsible for identifying and knowing the viable wholesalers to
handle the products of the organization.
47
 The Marketing Department plays a vital role in promoting the business and
mission of an organization. It serves as the face of your company,
coordinating and producing all materials representing the business.
 It is the Marketing Department's job to reach out to prospects, customers,
investors and/or the community, while creating an overarching image that
represents your company in a positive light.
SALES DEPARTMENT
In some organisation, the sales department is an integral part of the
marketing department . But most of the examiners tends to identify sales
department as the unit responsible for carrying out the sales activities of the
organization.The sales department is headed by MR.ADAIKALAM It's
functions include the following :
 It keeps accurate stock of goods produced in the organizations ware
house before distributing them for sales in the market.
 It is responsible for the sales of the organizations products and
remits revenue from sales to the accounting department
 Through promotion and advertisement, it informs the general public
about what products are available and at what prices.
 It keeps accurate sales record and records of all expenses in it
activities and remits same to the account department.
 Through advertisement and various promotion activities, it attracts
new customers to the organization.
PRODUCTION DEPARTMENT
The production department is mostly associated with manufacturing
organisations. The head of the production department is known as the
production. The head of production department is Mr. C.SENTHIL
NAYAGAM The production department performs the following functions:
 It uses raw materials and semi-finished goods to produce finished
goods to satisfy the needs of the people .
 It ensures that goods are produce in the right quality and quantity.
 It makes effort to produce goods at the minimum cost to meet the
time schedule for the orders are by customers.
 It works closely with the research and development department for
48
the design and production of new products.
 A production department must ensure finished goods meet minimum
quality standards. Apart from checking all products for faults as they
move through the production process, the department must perform
rigorous tests on prototypes for new products to ensure they meet
quality benchmarks before undergoing mass production. Techniques
such as waste elimination and process standardization also help to
ensure and improve product quality
PURCHASE DEPARTMENT
The purchasing department forms an Integral part of any dynamic and
progressive organization. It is headed by Mr. BALA MURUGAN The
department performs the following functions:
 It buys quality raw materials ,semi-finished goods as spare parts for
the organization at very reasonable prices .
 It is responsible for the storage of materials, semi-finished goods, etc.
bought until they are needed for use. It orders materials at the stock
reorder level to avoid stock out.
 It is responsible for checking invoices and delivery notes of
suppliers to ensure that they are in order.
 Purchasing department or procurement department in a company is
an organizational unit that fulfills these responsibilities. So, let’s
explore the process of purchasing and how a purchasing department
works.
 The purchasing department of a company is responsible for
procuring the goods, raw materials & services required to operate
the organization effectively.
 Now, every organization has its specific needs when it comes to
the sourcing and procurement of equipment, raw materials, and
services. These needs define the purchasing process and how its
purchasing department functions.
 Based on these needs, an organization sets the purchasing
department’s responsibilities and streamlines its procurement plans
49
to guard against demand-supply hurdles. Let’s understand the role of
a purchasing department in this process.
 Purchasing departments must continuously evaluate materials based
on quality and, more importantly, on pricing! To maximize
profitability, organizations need to procure goods efficiently.
 For example, buying small quantities from a large vendor is not
economically practical. The procurement team must achieve bulk
discounts on these orders and negotiate with alternate vendors for
better pricing.
CIVIL DEPARTMENT
It is a professional engineering discipline that deals with the design,
construction, and maintenance of the physical and naturally built environment,
including public works such as roads, bridges, canals, dams, airports, sewage
systems, pipelines, structural components of buildings, and railways.Civil
engineering is traditionally broken into a number of sub-disciplines. It is
considered the second-oldest engineering discipline after military
engineering,[3] and it is defined to distinguish non-military engineering from
military engineering.[4] Civil engineering can take place in the public sector
from municipal public works departments through to federal government
agencies, and in the private sector from locally based firms to global Fortune
500 companiesCivil engineering is the application of physical and scientific
principles for solving the problems of society, and its history is intricately
linked to advances in the understanding of physics and mathematics throughout
history. Because civil engineering is a broad profession, including several
specialized sub-disciplines, its history is linked to knowledge of structures,
materials science, geography, geology, soils, hydrology, environmental
science, mechanics, project management, and other fields.Throughout ancient
and medieval history most architectural design and construction was carried
out by artisans, such as stonemasons and carpenters, rising to the role of master
builder. Knowledge was retained in guilds and seldom supplanted by advances.
Structures, roads, and infrastructure that existed were repetitive, and increases
in scale were incremental.One of the earliest examples of a scientific approach
to physical and mathematical problems applicable to civil engineering is the
50
work of Archimedes in the 3rd century BC, including Archimedes' principle,
which underpins our understanding of buoyancy, and practical solutions such
as Archimedes' screw. Brahmagupta, an Indian mathematician, used arithmetic
in the 7th century AD, based on Hindu-Arabic numerals, for excavation
(volume) computations.
SAFETY DEPARTMENT
There are 2 main types of industrial safety systems in process
industry: Process safety system (PSS) or process shutdown system (PSS).
Safety shutdown system (SSS): This includes emergency shutdown (ESD)
and emergency depressurization (EDP) systems. These hazards
include flying chips, sparks, and rotating parts resulting in crushed hands,
amputation, or even death. The way to safeguard workers from such hazards
is to establish machine guarding. With proper machine guarding, the safety
risks associated with operating heavy machinery are largely mitigated.
Industrial Safety ensures the safety and security of workers, industrial
materials which can cause damage if not taken care of properly. Under these
the commercial unit safety measures, how to plan and execute in critical
situations functioning takes place. To maintain safety measures and handle
hazardous situations.
TRAINING AND DEVELOPMENT DEPARTMENT
Training and development refers to educational activities within a company

created to enhance the knowledge and skills of employees while providing
information and instruction on how to better perform specific tasks.
Training is a short-term reactive process meant for operatives and process
while development is designed continuous pro-active process meant for
executives. In training employees' aim is to develop additional skills and in
development, it is to develop a total personality.In training, the initiative is
taken by the management with the objective of meeting the present need o
fan employee. In development, initiative is taken by the individual with the
objective to meet the future need of an employee. Training and
Development managers assist employees in learning new skills. They help
them develop existing ones, ensuring that they are adequately trained and
51
capable of performing their jobs efficiently. In terms of trends and practices,
the T&D Manager assists the company in staying ahead of the competition.
OPERATION DEPARTMENT
An operations department ensures that the production process is completed
from start to finish. These production processes need to line up with the
goals and functions of other departments within a company.Coordinate
with managers to see how much technology they use to improve the level
of production. Schedule a time to have a joint evaluation, so you and the
department’s manager can properly assess the productivity of employees
and if they’re using technology properly to help them execute tasks.
Employees working in manufacturing still need raw materials to produce
products, so you must look at performance reports during your evaluation
to see if you can streamline the shipping and receiving or production of raw
materials. The operations department must collaborate with the human
resources department to see which resources fit the needs of an employee’s
development.In some instances, an employee can be proactive in saying
what they need to improve. You should generate a performance assessment
and brainstorm questions to assist managers in getting feedback about an
employee’s interactions with them. Operations is involved in almost every
aspect of an organization. For example, if a project manager wants to hire a
new team member, the operations team will first perform a cost-benefit
analysis. When the production team wants to create a new product, the
operations team starts by assessing customer demand. You may spend more
time managing some functions than others. For example, if your company
doesn't provide a physical product, you likely won't focus much on supply
chain management. But understanding every operational function is the
best way to prepare to work in any industry. Employees working in
manufacturing still need raw materials to produce products, so you must
look at performance reports during your evaluation to see if you can
streamline the shipping and receiving or production of raw materials. The
operations department must collaborate with the human resources
department
52
CHAPTER 4
DATA ANALYSIS
AND
INTERPRETATION
53
PERFORMANCE ANALYSIS
Performance analysis deals with the use of financial and performance data
in evaluating the current and past performances of the enterprise to assess its
sustainability in future.
Performance analysis is a process of making an assessment of the
performance and progress of the employees of the organization. Such an
assessment would indicate whether he is sufficient or not. Performance
analysis is also known as merit rating. Performance analysis shows tools
and techniques, such as ratios, cash flow and measures investments and
performance of a business enterprise with the focus on effectiveness by the
management. Performance analysis is based on company’s financial
statement. The analysis includes establishing relationship between past
records, comprising and ascertaining future trends.
A performance analysis is an evaluation of how a business or individual has
performed over a certain amount of time. A performance analysis can track
progress through three different methods: analyzing revenue, analyzing
other key performance metrics and analyzing progress on business goals. It's
important to interpret this data by measuring any variations from projected
metrics, understanding why these variations happened, putting the
business's progress in the context of market and consumer behavior and
using that information to decide what to encourage, discourage and plan for
in the future.
In an individual performance analysis, a manager may only need
information on individual and department performance, while for a whole
business analysis, company and department data is more useful than
information on each employee.
This analysis can be used for variety of decisions, contracts etc.
The performance of SPIC LIMITED has been analyzed in the follow
• Share capital(Shareholder’s funds)
• Income from operations
• Net profit before interest and taxation
• Net profit after interest and taxation.
54
SHARE CAPITAL (Shareholder’s funds)
Share capital denotes the amount of capital raised by the issue of

shares, by the company. It is collected through the issue of shares.
Share capital is the owned capital of the company, since it is the
money of the shareholder and the shareholder are the owners of the
company. The total share capital is divided into small parts and each
part is called a Share. Share is the smallest part of the total capital of
the company.
(Table4.1 Shows the share capital of the company)
YEARS RS(INLAKHS)
AY17-18 42500.00
AY18-19 52800.00
AY19-20 323300.00
AY20-21 28061.00
AY21-22 68200.00
(Chart 4.1 shows the share capital of the company)
INTERPRETATION
SharecapitalofthecompanyhasincreasedfromAY18-19throughAY21-22,showing the
capital is major reinvested in the business. However in AY 20-21 can offer a
company more financial flexibility. Increasing a company's share capital can lead to
the shares of existing shareholders becoming diluted.
55
INCOME FROM OPERATIONS
It is the income generated from sale of goods or services, or any
other use of capital or asset, associated with the main operation of an
organization before any costs or expenses are deducted. Revenue is
shown usually as the to come statement from which all charges,
costs, and expenses are subtracted to arrive at net income also called
as sales.
(Table4.2 shows the Income from operations of the company)
YEARS RS(INLAKHS)
AY17-18 40012.23
AY18-19 52812.40
AY19-20 20821.42
AY20-21 21245.31
AY21-22 58283.51
( Chart4.2 shows the income from operations of the

company)
INTERPRETATION:
Income from operations have been increasing till,AY21-
22,howeverthe same is reduced in AY 19-20, majorly due to impact
of COVID. After the COVID the income from operations of the
AY-2021-2022 has gradually increased
56
NET PROFIT BEFORE INTEREST & TAXATION
Profit before tax is the profitability measure that looks at the company’s
profit before the company has to pay corporate income tax by deducting
all expenses from revenue and including interest expenses and operating
expenses except from income tax. Also referred to as “Earning before
tax” or “pre-profit tax”.
(Table4.3 shows the company’s Profit before taxation)

YEARS RS(INLAKHS)
AY17-18 4961.71
AY18-19 6595.17
AY19-20 2015.26
AY20-21 3702.68
AY21-22 17368.18
( Chart 4.3 shows the income from operations of the

company)
INTERPRETATION:
Profits of the company have been increasing year on year. Thereby
company is able to effectively control its cost and provide goods and services at a
price significantly higher than its cost.
57
NET PROFIT AFTER INTEREST & TAXATION
Net Profit after tax is the net profit earned by the company after deducting
all expenses like interest, depreciation and tax. PAT can be fully retained
by a company to be used in the business. Dividends, if declared are paid to
the shareholders from this residue.
(Table 4.4 shows the profit after taxation of the company)
YEARS RS(INLAKHS)
AY17-18 4540.59
AY18-19 6299.35
AY19-20 2365.32
AY20-21 3407.53
AY21-22 16334.41
(Chart4.4 Shows the net profit after taxation& interest of

the company)
INTERPRETATION:
The company has gone through less net profit in the AY- 2017 – 2020 it has very
low profit because it reduced its ability to pay off all debts, limiting risk and
opportunity management . The growth of net income is disproportionate to sales
growth in your company, the after-tax profit margin can change
58
RATIO ANALYSIS
A ratio is a mathematical relationship between two items expressed
in a quantitative form. Ratio can be defined as “Relationships
expressed in quantitative terms, between figures which have cause
and effect relationship or which are connected with each other in
some manner or other.”Ratio analysis is a process of determining
and presenting the relationship of items and groups of items in the
financial statement. A ratio is worked out by dividing one number by
another number. Accounting ratios measures and indicate the
efficiency of an enterprise in all aspects.
CLASSIFICATION OF RATIOS:
59
QUICK RATIO
The quick ratio measures a company’s capacity to pay its current liabilities without
needing to sell its inventory or obtain additional financing.
FORMULA: QUICK ASSETS/CURRENT LIABILITIES (QUICK ASSETS =
CURRENT ASSETS-INVENTORY-PREPAID EXPENSES)
(TABLE4.5 SHOWS THE QUICK RATIO OF THE COMPANY)QU
YEAR QUICK ASSETS CURRENT RATIO

LIABILITIES
2017-2018 77190.5 93821.6 0.82
2018-2019 130222.89 150656.89 0.86
2019-2020 128927.89 162838.57 0.79
2020-2021 53017.21 116423.55 0.45
2021-2022 25960.59 92689.59 0.28
(CHART 4.5 SHOWS THE QUICK RATIO OF THE COMPANY)
INTERPRETATION
The quick ratio of the company has been increasing fromAY18-19 and same has been
decreased from the AY19to21 due to pandemic. And the ratio has been increased
during the AY21-22. Essentially, the ratio seeks to figure out if a company has enough
liquid assets (cash or things that can easily be converted into cash) to cover its current
liabilities and impending debts.
60
DEBT ASSET RATIO
The debt-asset ratio also known as debt ratio is a leverage ratio that indicates the
percentage of assets that are being financed with debt. The ratio is commonly used by
creditors to determine the amount of debt in a company, the ability to repay its debt
and whether additional loans can be extended to the company.
FORMULA= TOTAL DEBT/TOTAL ASSET

(TABLE4.6 SHOWS THE DEBT ASSET RATIO OF THE
COMPANY)QUICK
YEAR 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022
TOTAL 113027.58 166411.08 165851.88 119635.35 99758.66

DEBT
TOTAL 143595.04 201194.78 205904.79 165628.64 161201.31

ASSET
RATIO 0.78 0.82 0.80 0.72 0.61
(CHART 4.6 SHOWS THE DEBT ASSET RATIO OF THE COMPANY)
INTERPRETATION
The Debt Asset ratio of the company has been increasing fromAY17-18 and same has
been decreased in the AY 18-19 thereby the company is becoming progressively less
dependent on its debt to grow its debt.
61
DEBT EQUITY RATIO
The debt-equity ratio also known as the risk ratio is a leverage ratio which calculates
the weight of total debt and financial liabilities against total shareholder’s equity. This
ratio highlights whether a company’s capital structure is tilted towards debt or equity
financing.(FORMULA= TOTAL DEBT/TOTAL EQUITY)
(TABLE4.7 SHOWS THE DEBT EQUITY RATIO OF THE
COMPANY)QUICK
YEAR 2017- 2018- 2019- 2020- 2021-

2018 2019 2020 2021 2022
TOTAL 113027.5 166411.08 165851.88 119635.35 99758.66

DEBT 8
TOTAL 30567.46 34783.7 40052.91 45993.29 61442.65

EQUIT
Y
RATIO 3.69 4.78 4.14 2.60 1.62
(CHART 4.7 SHOWS THE DEBT EQUITY RATIO OF THE COMPANY)
INTERPRETATION
The Debt equity ratio of the company has been increasing fromAY17-18 thereby the
company is running on a debt fund, which can be risky in the long term
62
GROSS PROFIT RATIO
Gross Profit ratio is a profitability ratio which helps in determining the efficiency and
performance of a total net sales.
FORMULA= GROSS PROFIT/SALES*100
(TABLE4.8 SHOWS THE GROSS PROFIT RATIO OF THE
COMPANY)QUICK
YEAR 2017- 2018- 2019- 2020-2021 2021-2022

2018 2019 2020
GROSS 94920.98 106984.82 91075.11 67985.19 66690.27

PROFIT
NET 199445.82 259195.80 207918.00 151755.82 187491.79

SALES
RATIO 47.59 41.27 91.07 4.47 35.56
(CHART 4.8 SHOWS GROSS PROFIT RATIO OF THE COMPANY)
INTERPRETATION
The Gross profit ratio of the company has been increasing fromAY18-19 and same has
been decreased from the AY20to22due to the impact of pandemic. It indicates that a
company can make a reasonable profit on sales, as long as it keeps overhead costs in
control. Investors tend to pay more for a company with higher gross profit
63
CURRENTRATIO
The current ratio is a liquidity ratio that measures a company's ability to pay short-
term obligations or those due within one year. It tells investors and analysts how a
company can maximize the current assets on its balance sheet to satisfy its current
debt and other payables.
FORMULA:CURRENTASSETS/CURRENT LIABILITIES
(TABLE4.12SHOWSCURRENTRATIOOFTHECOMPANY
YEARS RS(INLAK
HS)
FY17-18 1.02
FY18-19 0.99
FY19-20 0.87
FY20-21 0.75
FY21-22 0.76
(CHART4.12 SHOWS CURRENT RATIO OF THE COMPANY)
CURRENTRATIO
1.2
1 1.02 0.99
0.87
0.8 0.76
0.75
0.6
CURRENTRATIO
0.4
0.2
0
2017-20182018-2019 2019-2020 2020-2021 2021-2022
INTERPRETATION:
The current ratio of the company has been stable in the year 2017-2018; 2018-2019
it denotes the company has more assets than liabilities, also in the FY 2020-2021 it
is because it has reduced ability to generate cash.
64
ASSET TURNOVER RATIO
The asset turnover ratio is a measurement that shows how efficiently a company
isusing its owned resources to generate revenue or sales. The ratio compares the
company's gross revenue to the average total number of assets to reveal how many
sales were generated from every dollar of company assets.
FORMULA:NET SALES /AVERAGETOTALASSETS
(TABLE4.11SHOWSTHEGROSSPROFITRATIOOFTHECOMPANY)
YEARS RS(INLAKHS)
AY17-18 1.02
AY18-19 0.99
AY19-20 0.87
AY20-21 0.75
AY21-22 0.76
(CHART4.11SHOWS THE GROSS PROFIT RATIO OF THECOMPANY)
assetturnoverratio
1.
2
1.02 0.99
1 0.87
0.8 0.75 0.76
0.6
assetturnoverratio
0.
4
0.2
0 2017-20182018-2019 2019-2020 2020-2021 2021-2022
INTERPRETATION
The asset turnover ratio of the company has been decreased from AY18-19 and same has
been from the AY20 to 22 due to the impact of pandemic. It is because of the more
efficient a company is at generating revenue from its assets.
65
CHAPTER 5
FINDINGS,
SUGGESTIONS
& CONCLUSION
66
FINDINGS
 The company was earlier into manufacturing of fertilisers. Later the company
started group of companies as subsidies and started manufacturing urea.
 The major business of the company is manufacturing and sale of fertilizers to
farmers at a cheapest price.
 The company has shown operational profit from AY17-18 to AY 21-22.
 Company was adversely affected due to COVID as their major clients were not
allowed to function.
 Even though the major clients of the company were non-operational due to lock
down the company was able to achieve 60% of the previous year turnover further
more emphasize in gone diversity in the client base.
 The current ratio and quick ratio have been below their deal ratios.
 The debt has been on an increasing side year and year.
 The Debt Asset ratio of the company has been increasing fromAY17-18 and same
has been decreased from the AY20to21 due to the impact of pandemic.
 The company has shown increasing profit from AY18-19 toAY21-22,the same
has been decreased in the year AY 19-21, the major reason being COVID.
 Income from operations have been increasing till,AY21-22,however the same is
reduced in AY 19-20, major due to impact of COVID
 The company can improve the net profit ratio by increasing revenues, such as
through selling more goods or by increasing prices. It can also increase the net
margin by reducing costs.
 The company can maintain the increase in this ratio. The long-term debt to equity
ratio of the company had been declining over the years, but if the company
manages its debt and equity even more effectively; it can try to reach the ratio of
1:1 which is considered appropriate.
 The company can maintain the proprietary ratio by having an ideal capital
structure by not reducing the creditor’s interest and interest expenses.
67
SUGGESTIONS
 The company can improve the net profit ratio by increasing revenues,
such as through selling more goods or by increasing prices. It can also
increase the net margin by reducing costs.
 The company can maintain the quick ratio by having an ideal capital
structure by not reducing the creditor’s interest and interest expenses.
The company can maintain the increase in this ratio.
 The Debt asset ratio of the company had been declining over the years,
but if the company manages its debt and equity even more effectively; it
can try to reach the ratio of 1:1which is considered appropriate.
 Current liability of the company is continuously increasing. So, the firm
must take appropriate steps to cut down/pay off the current liabilities,
otherwise it will affect the liquidity position. Proper usage of fund has to
been sure in order to avoid the problem of negative working capital.
 The company can increase the current ratio by paying off the current
liabilities, sweeping off the bank accounts and by rising the shareholders
fund and selling off unproductive assets.
 The company should try to increase its Debt equity ratio , so that it can
reach the ideal ratio of 1:1.
 The company should keep on increase its share capital for more
productivity.
 It can give more incentives for contract labours which will be more useful
for them and by giving these allowances it will encourage them to work
more.
 It would be great if the company can increase its return on shareholders’
funds in order to increase shareholder value and thereby become
financially healthier.
 Gross profit ratio of the company would be increased in the financial year
in the profit of the sales in 2019 – 2020 it would encourage them to
concentrate on their profit of the organization
68
CONCLUSION
Financial analysis is a technique to evaluate the past, present and future functioning
of a concern. Therefore, analyzing financial performance is essential for any
organization. The study was undertaken with the objective of evaluating the financial
performance of SPIC LIMITED. It helped the intern to get practical knowledge
regarding the financial performance of the company and analysis of statements. A
detailed study of the company’s activity ratios, profitability ratios, liquidity and
solvency ratios are made. From the study made, it is found that the company has a
good solvency position and absolute liquid position has to be improved. The
profitability of the company is also good, but better to improve. This is because the
company uses cost control techniques, ensuring minimum wastage more effectively
than its competitors. The company uses attest technologies for all its purposes,
making it the leader in the industry. So, it is concluded that the overall financial
performance of SPIC LIMITED is GOOD.
69

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A REPORT ON INSTITUTIONAL TRAINING UNDERTAKEN

Submitted in partial fulfilment of the requirement for the award

UNDER THE GUIDANCE OF

DEPARTMENT OF COMMERCE (CORPORATE

I express my heartfelt gratitude to the Principal Dr.Archna Prasad ,M.com,M.B.A,

Ms. K.J .Rachel,M.Com, M.B.A

Dr. V. Sudha, M.Com., B.Ed, M.Phil, Ph.D

Submitted to M.O.P. Vaishnav College for Women

CHAPTER TITLE PAGE

4 DATA ANALYSIS AND 46

S.NO CHARTNO. DESCRIPTION PAGEN

2. Chart4.2 Income from operations of the 49

3. Chart4.3 Net profit before interest and taxation 50

4. Chart4.4 Net profit after interest and taxation 51

5. Chart4.5 Quick ratio of the company 53

6. Chart4.6 Debt asset ratio of the company 54

7. Chart4.7 Debt equity ratio of the company 55

8.. Chart4.8 Gross profit ratio of the company 56

9. Chart4.9 Current ratio of the company 57

10 Chart4.10 Asset turnover ratio of the company 58

S.NO TABLE DESCRIPTON PAGEN

2. Table4.2 Income from operations of the company 49

3. Table4.3 Net profit before interest and taxation 50

4. Table4.4 Net profit after interest and taxation 51

5. Table4.5 Quick ratio of the company 53

6. Table4.6 Debt asset ratio of the company 54

7. Table4.7 Debt equity ratio of the company 55

8. Table4.8 Gross profit ratio of the company 56

9. Table4.9 Current ratio of the company 57

1 Table 4.10 Asset turnover ratio of the company 58

HISTORY OF SOUTHERN PETROCHEMICALS INDUSTRIES

Tuticorin Alkali Chemicals and Fertilizers Ltd

ABOUT GREENSTAR FERTILIZERS

COMPANY LIMITED BY SHARES

3. The liability of the member(s) is limited.

1. The name of the company is

4. (b)Matters which are necessary for furtherance of the objects specified in

5. The liability of the member(s) is limited.

TableC-MEMORANDUM OF ASSOCIATION OF A COMPANY

3. The liability of the member(s) is limited.

TableD- MEMORANDUM OF ASSOCIATION OF A UNLIMITED

1. The name of the company is

3. The liability of the member(s)is unlimited.

COMPANY LIMITED BY SHARES

ARTICLES OF ASSOCIATION OF COMPANY LIMITED BY SHARES

PROCEEDINGS AT GENERAL MEETINGS

Until otherwise determined by special resolution the number of directors of

PROCEEDINGS OF THE BOARD

HUMAN RESOURCE DEPARTMENT

Training and development refers to educational activities within a company

Share capital denotes the amount of capital raised by the issue of

( Chart4.2 shows the income from operations of the

(Table4.3 shows the company’s Profit before taxation)

( Chart 4.3 shows the income from operations of the

(Chart4.4 Shows the net profit after taxation& interest of

(TABLE4.5 SHOWS THE QUICK RATIO OF THE COMPANY)QU

YEAR QUICK ASSETS CURRENT RATIO

(CHART 4.5 SHOWS THE QUICK RATIO OF THE COMPANY)

FORMULA= TOTAL DEBT/TOTAL ASSET

YEAR 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022

TOTAL 113027.58 166411.08 165851.88 119635.35 99758.66

TOTAL 143595.04 201194.78 205904.79 165628.64 161201.31

RATIO 0.78 0.82 0.80 0.72 0.61