Supreme Industries (SI) reported Q4FY23 blended plastic volumes growth of 14.6% YoY (4-year CAGR of 6.7%), driven by plastic pipe volume growth of 16.4% YoY (4-year CAGR of 7.7%) as demand was seen across segments. EBIDTA increased 22.7% YoY (+58.3% QoQ) on higher profitability in the pipe segment and also due to inventory gains of Rs0.6-0.7bn (as PVC resin price increased ~16% during end-Dec’22).