Plastic Products firm Supreme Industries Announced Q1FY23 Result :

• The overall turnover of value added products increase to Rs. 761 crores during the current quarter as compared to Rs. 516 crores in the corresponding period of previous year achieving growth of 47%.
• The Company has Cash Surplus of Rs. 533 crores as on 30th June, 2022 as against Cash Surplus of Rs. 518 crores as on 31st March, 2022.

Mr. M. P. Taparia, Managing Director, The Supreme Industries Limited, said: The Company continues its objective to aggressively grow Plastic Piping System business. The Company is implementing green field expansion, launching new applications & systems and continue to enlarge its product basket along with brown field expansion in its existing plants.

New unit at Guwahati (Assam) has commenced commercial production and units at Cuttak & Erode are likely to go into production by Sept.-Oct.,2022. The Company has augmented its offering in Plumbing Systems by introducing PEX plain pipes and PEX composite pipes which are ideal pipe systems to carry hot water. All these initiatives will give required impetus to the division to grow faster and seize the growing business opportunities. The Company’s Olefin fittings & Electrofusion fittings have received positive response in “Nal Se Jal” scheme which Govt. has committed to implement throughout the country by 2024.

The business of Cross Laminated Film products is getting impacted by fierce competition from look- alike products. The thrust in the current year will be on promoting non- Tarpaulin applications, targeting new customers in existing markets & making breakthrough in new export markets for special applications. The Company plans to launch variety of new models & remain focused in the Premium Range of Plastic Furniture which will help in overall growth in this business segment. In Industrial Component division, business conditions are showing signs of gradual improvement. Company expects positive demand scenario in sectors of Appliances like Washing Machines, Air Conditioners, Coolers and Refrigerators, segments where it has good presence.

Material handling division has been able to add many new customers all over the country and would strive to continue enlarge its customer base and product portfolio. In Composite LPG Cylinder division, repeated orders from existing as well as new customers are encouraging. Supplies against the Letter of intent from IOCL have commenced and existing capacity is running at full capacity. Work on doubling the capacity is progressing smoothly and is likely to be operational by November, 2022. In Protective Packaging Division, business conditions are improving. It has started doing good business in its consumer products, sports goods, yoga mats and kids puzzle & toys. Good growth is shown in export markets as well. The Company expects good business for the division and continue to develop various customized solutions for the user industry.

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