Supreme Industries' Q2FY19 results were a miss (after adjusting to construction income) owing to lower than expected volume growth and price cut in packaging segment. Total volume grew by just 5% YoY to 83,173MT while realization increased by 13% YoY in Q2FY19. The company realized Rs808 mn from sale of 38,718sq ft of its Andheri Premises which inflated EBITDA/PAT by Rs531/346 mn respectively. Adjusting to this, EBITDA/PAT grew by 10.7%/2.6% YoY to Rs1,594/727 mn in Q2FY19. The management lowered its volume growth guidance to 10% for FY19 (7% in H1FY19) from 10%-12%. The management maintains its capex guidance of Rs3.5-4 bn for FY19....