Supreme Industries Ltd (SIL) reported healthy set of numbers for Q4FY18. While revenue growth of 14.7% YoY was in line with our projections, the company surprised positively on the profit front with a strong growth of 19.5% & 21.8% in operating profit & PAT respectively. EBITDA margin expansion of 78bps YoY (at 19.5%), led by improved product mix and operating leverage, was encouraging.