Supreme Industries Ltd.'s (SIL) Q1FY26 result was below our estimates on key parameters. During the quarter the Plastic Pipe Systems business growth was adversely affected due to unfavorable PVC resin prices scenario and demand from infrastructure spend not picking. The segment was also affected due to 20 days early break off monsoon. This resulted in loss of agriculture piping system business due to fall in prices in the quarter also there were inventory loss affecting profitability in the quarter. SIL reported net sales of Rs26bn, down by 1% YoY, while EBITDA came in at Rs3.1bn, declined by 17.7% over Q1FY25. It...