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Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
NSE:SPIC'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.3 Med: 0.74 Max: 1.18
Current: 0.55
During the past 13 years, the highest Price to Graham Number ratio of Southern Petrochemicals Industries was 1.18. The lowest was 0.30. And the median was 0.74.
NSE:SPIC's Price-to-Graham-Number is ranked better than 87.5% of 176
companies
in the Agriculture industry
Industry Median: 1.14
vs NSE:SPIC: 0.55
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Southern Petrochemicals Industries (NSE:SPIC) Graham Number Explanation
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
Southern Petrochemicals Industries's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
67.80
/
124.21
=
0.55
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
Southern Petrochemicals Industries Graham Number Related Terms
Southern Petrochemicals Industries Graham Number Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Southern Petrochemicals Industries Graham Number Chart
NSE:SPIC vs CTVA, CF, MOS: Graham Number Comparison
For the Agricultural Inputs subindustry, Southern Petrochemicals Industries's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Southern Petrochemicals Industries Price-to-Graham-Number vs Agriculture Industry
For the Agriculture industry and Basic Materials sector, Southern Petrochemicals Industries's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Southern Petrochemicals Industries's Price-to-Graham-Number falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Southern Petrochemicals Industries (NSE:SPIC) has a Graham Number of ₹124.21 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Southern Petrochemicals Industries and its competitors. This is 16685% above median its historical median of 0.74. Over the past decade, Southern Petrochemicals Industries' Graham Number has ranged from 0.30 to 1.18. According to the industry distribution chart, Southern Petrochemicals Industries ranks #22 out of 176 companies in the Agriculture industry, placing it in the top 12.5%.
Is Southern Petrochemicals Industries' Graham Number too high?
Southern Petrochemicals Industries' current Graham Number of ₹124.21 is 16685% above median its 10-year median of 0.74. Over the past 10 years, this metric has ranged from a low of 0.30 to a high of 1.18. Based on the distribution chart, Southern Petrochemicals Industries ranks #22 out of 176 companies in the Agriculture industry, which is in the top quartile — a strong position relative to peers. Overall, Southern Petrochemicals Industries has a GF Score™ of 79/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Southern Petrochemicals Industries' Graham Number compare to CTVA and CF?
According to the Agriculture industry distribution chart, Southern Petrochemicals Industries ranks #22 out of 176 companies for Graham Number. This places Southern Petrochemicals Industries in the top 13% of its industry — outperforming the majority of peers. The industry median Graham Number is 1.14. Historically, Southern Petrochemicals Industries' own Graham Number has ranged from 0.30 to 1.18 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for an Agriculture company?
The median Graham Number among Agriculture companies is 1.14, based on 176 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on Southern Petrochemicals Industries and its competitors. For the Agriculture industry, the median Graham Number is 1.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Southern Petrochemicals Industries's current Graham Number is ₹124.21, which is 16685% above median its own 10-year median of 0.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Southern Petrochemicals Industries stock overvalued right now?
Based on GuruFocus' analysis, Southern Petrochemicals Industries (NSE:SPIC) is currently considered Significantly Undervalued. The stock's GF Value™ is ₹395.79, compared to a current price of ₹67.80 — trading 82.9% below its estimated fair value. The current Graham Number is ₹124.21, which is 16685% above median its 10-year median of 0.74. Southern Petrochemicals Industries' overall GF Score™ is 79/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For Southern Petrochemicals Industries (NSE:SPIC), the current Graham Number is ₹124.21 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Southern Petrochemicals Industries (NSE:SPIC) Overvalued in 2026?
Based on GuruFocus' analysis, Southern Petrochemicals Industries stock appears to be undervalued.
The current stock price of ₹67.80 is trading 82.9% below its estimated GF Value™ of ₹395.79.
GuruFocus considers Southern Petrochemicals Industries to be Significantly Undervalued.
Key valuation signals for NSE:SPIC:
Graham Number: ₹124.21 (16685% above median its 10-year median of 0.74)
GF Value™: ₹395.79 vs. price of ₹67.80 (82.9% below fair value)
No single metric tells the full story. See the NSE:SPIC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Southern Petrochemicals Industries Corp Ltd is a manufacturer and seller of nitrogenous and phosphatic fertilizers, including urea and neem-coated urea. The company operates a large fertilizer complex in Tuticorin, Tamil Nadu, capable of producing substantial volumes to support agricultural productivity across India. SPIC also provides secondary and micronutrient fertilizers, organic fertilizers, biopesticides, and plant growth regulators to enrich soil and crop health. Its industrial by-products, such as phosphoric acid and sulfuric acid, serve other sectors like cement and aluminum production. Revenue is majorly generated from the sale of fertilizer products through an extensive dealer network serving rural and farming communities nationwide.
79GF Score
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