Supreme Industries Corporate Filings & Announcements

Plastic products company Supreme Industries announced Q1FY25 results: Total Consolidated Income: Rs 2,657.79 crore (YoY increase of 11.54%) Operating Profit: Rs 424.86 crore (YoY increase of 23.90%) Operating Profit (% of Total Income): 15.99% Profit Before Tax (PBT): Rs 356.94 crore (YoY increase of 25.96%) PBT (% of Total Income): 13.43% Profit After Tax (PAT) (Before OCI): Rs 273.37 crore (YoY increase of 26.83%) PAT (% of Total Income): 10.29% Earnings Per Share (EPS): Rs 21.52 (YoY increase of 26.83%) Cash Earnings Per Share: Rs 28.29 (YoY increase of 24.97%) The Company has a total Cash Surplus of Rs 1,245 crore as on 30th June, 2024 as against Cash Surplus of Rs 1,178 crore as on 31st March, 2024. The overall turnover of value-added products increased to Rs 925 crore during the current quarter as compared to Rs 756 crore in the corresponding quarter of previous year. M. P. Taparia, Managing Director, The Supreme Industries Limited, said: Polymer prices remained range bound during the quarter, except for the prices of PVC Resin which increased by about Rs 13 per kg., an increase of about 15%. However PVC resin prices started showing a declining trend from 2nd week of July onwards. Thus, the raw material prices are expected to remain affordable. Country is witnessing good rainfall in most of the parts which augurs well for the economy. Demand for housing and infrastructure is good. The company remains positive of envisaged volume growth with an increase in value added products turnover both for the Plastic piping Division and for the company during the current fiscal year. Various capacity expansion programs of Piping division are progressing smoothly. Most of the expanded capacities at the existing manufacturing units would be in place during the second half of the year. Various greenfield projects which are taken in hand are progressing well. The company has been allotted required land at Malanpur (M.P.) for a new unit to expand its pipe & fitting Capacities, additional land at Jadcherla (Telangana) for further expansion and also completed the purchase of contiguous land to existing plant at Sangli (Maharashtra). The company has also negotiated purchase of additional contiguous land at Puducherry for expansion of Bathware products. Identification and allotment of suitable land near Patna in Bihar & near Vijaywada in Andhra Pradesh is at an advanced stage. The Company has also applied for Industrial Land at Jammu for putting up a Plastics Product Complex. The new green field unit dedicated for production of varieties of Industrial and ball valves at Malanpur (M.P.) has commenced trial production and is likely to go into commercial production soon. With completion of all the expansion plans undertaken, except the green field sites, installed capacities of the Piping System division shall reach to 8,35,000 M.T. per annum by end of FY 25 from 7,40,000 M.T. as on 31st March,2024 Orders for equipment have been placed for PP silent pipe system in technical collaboration with M/s. Poloplast Gmbh of Austria. The newly launched PERT Piping System and PE single wall corrugated pipes has received an encouraging response. The Polyethylene Gas Piping System is expected to be launched by October this year. The Company continues to invest and enlarge the product basket in its piping business and to increase the range of value-added products. The Company’s strategy to focus more on Made-up products, from Cross Laminated film is yielding positive results. The division is expanding its fabrication capacities which would further help in improving Overall realizations and margins. Efforts to expand geographical reach in the export market are yielding positive results. Trials have commenced to manufacture newly developed cross plastic film. The company is hopeful to successfully complete the trial process in the current quarter to pave the way for its commercial launch. The Company has expanded and introduced various new models of chair & cabinet in its furniture segment. The division continues to add showrooms to improve awareness of its range of premium products. Total strength of showrooms has reached 319 by end of June, 2024 from 308 showrooms as on 31st March,2024. The Industrial Component Division is carrying out capacity augmentation judiciously mostly against confirmed business and projected volumes committed by customeRs It is also working to expand its customer base and develop the business in new sectoRs With revival in the business scenario of various appliances customers, division expects better growth prospects going forward. The Fisheries and F&V; sectors in the Material Handling Division are seeing good demand. Division is adding newer markets in western coastal areas for growth in Fisheries crates and also building strong network for increase in sales of varieties of dustbins. There is good demand from the soft drink industry. The division is expanding its product range and is in process of establishing manufacturing set up for Bubble Guard Board used in packing boxes and is also expanding capacity for production of PP hollow sheets. The division expects to continue its momentum of growth both in volume and value terms. Composite LPG cylinder division has received another letter of Intent from Indian Oil corporation Limited (IOCL) for the supply of 231035 Nos of Cylinders during this year. The Company is actively engaging with the distribution system of LPG cylinders and initiating various promotional activities. The Protective Packaging Division has enhanced its capacity utilization. The strategy to work more on fabricated products has improved profitability. The division has increased its fabrication capacities to cater to increased demand and also expanding its capacities at existing locations apart from looking for a new greenfield site near port in western region to cater to export opportunities and meet increased domestic demand. Identification and negotiation for acquisition of land are at an advanced stage and likely to be concluded by October 2024. The Performance Packaging Division continues to utilize its capacities optimally and work on post extrusion value added products. The Company has placed equipment orders for making Windows at its new site at -Kanpur Dehat and also at its existing factory at Kharagpur. The Company expects to supply Windows from these two sites in the first half of 2025-26. With increased business opportunities, the Company has made Capex commitments including carry forward commitments of around Rs 1500 crs Entire Capex shall be funded from internal accruals. Result PDF

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Supreme Industries Corporate Filings & Announcements

Latest corporate announcements and filings from Supreme Industries on BSE