Supreme Industries Q2FY18 results were ahead of our estimates led by strong volume growth across most of the segments. The company reported 19.5% yoy growth in revenue backed by 18.3% yoy growth in total volume. The volume growth in the quarter was led by aggressive discount policy adopted by the company particularly in agri-based PVC pipes segment. The company's piping segment grew by 17% yoy despite 6% decline in the PVC pipes industry. Aggressive pricing and inventory loss resulted in 160 bps yoy decline in EBITDA margins which stood at 13.6% in Q2FY18. The company expects EBITDA margins...