Supreme Industries recorded strong volume growth of ~14% YoY in Q1FY20 while realisation de-growth is attributable to a change in product mix & high discounts in selected product categories. While the piping segment recorded a strong performance, the other three segments i.e. industrial, packaging and consumer furniture segment performance stayed muted owing to low volume growth. EBITDA margin fell ~215 bps YoY led by ~150 bps YoY decline in gross margin due to inventory losses and high contribution of low margin products (such as agri pipes in piping segment)....