Doubtful if SPIC can make such a dramatic turnaround. They are ridden with serious debt and there is a huge outflow of interest every year. Recently, they had sold the Heavy Chemical Division to one of the Group TN Petro to get some cash.

But there are so many other problems plaguing this company for the past decade. The fact that the Management has not been able to get hold of the issues and resolve it reflects poorly on them. May be Muthiah is getting hold and a new generation with fresh thinking can do something to make this work. They need lots of cash, which might come through the sale of their huge assets in and around Chennai, for which they have done some tie up, as explained in one of my answers a long time back (may be 8 months ago). There is also a problem about their equipments which are of old vintage and they have never had the money to go in for modernisation when they were struggling for sheer survival.

Then, you have to consider that fertiser industry is plague ...more