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EQUITY - MARKET SCREENER

Supreme Industries
25-Jan-21   19:41 Hrs IST
In quarter ended Dec'20, consolidated sales rose 34% to Rs 1843.8 crore. The company sold 111584 tonne of plastic goods in Q3FY21 against sales of 01393 tonne of plastic goods in the corresponding quarter of previous year achieving volume and product value growth of about 10% and 30%, respectively.  

OPM rose 890 basis points to 21.8% which saw OP rose 82% to Rs 401.56 crore. Other income was Rs 25 lakh compared to Rs 80 lakh. Interest cost was credit of to Rs 1.24 crore compared to interest expense of Rs 5.65 crore. As depreciation grew 7% to Rs 54.92 crore, PBT rose 112% to Rs 348.13 crore. Tax provision rose 112% to Rs 88.64 crore. PAT rose 112% to Rs 259.49 crore.  

Profit in JV stood at Rs 312.28 crore compared to Rs 76 lakh in Q3FY20. Finally net profit rose 153% to Rs 312.28 crore.  

The overall turnover of value added products increased to Rs. 758 crore during the current quarter as compared to Rs. 568 crore in the corresponding period of previous year achieving growth of 33%. 

The company has cash surplus funds of Rs. 432 crore as on 31st December, 2020 as against net Borrowings of Rs. 217 crore as on 31st March, 2020.

9MFY 2021 consolidated results  

In 9MFY 2021, sales rose 5% to Rs 4272.47 crore. The company sold 297871 tonne of plastic goods during 9MFY21 against sales of 308321 tonne in the previous year achieving volume degrowth of about 3% and product value growth 2% respectively.  

OPM rose 520 basis points to 18.1% which saw OP rose 38% to Rs 774.51 crore. 

Other income fell 55% to Rs 61 lakh and interest cost decreased 43% to Rs 9.04 crore. As depreciation grew 3% to Rs 157.99 crore, PBT rose 54% to Rs 608.09 crore.  

As tax rose 130% to Rs 155.98 crore, PAT rose 39% to Rs 452.11 crore.  

Profit in JV rose 212% to Rs 75.65 crore. Finally net profit rose 51% to Rs 527.76 crore.

Mr. M. P. Taparia, Managing Director, The Supreme Industries Limited, said:  

Business situation has become normal in all the segments where company is operating. The company achieved a volume and value growth of 10% and 30% respectively in the 3rd quarter. 

The Company's value added business has grown to Rs. 758 crore as compared to Rs. 568 crore in comparable quarter of the previous year. The increase in volume sale supported by increase in the business of value added products have improved operating margin to 21.53% compared to 16.11% of the previous year in the same quarter. The OPM has also improved significantly due to inventory gain on account of rapid price increase of PVC resin to the extent of around Rs. 80 crore in the quarter. 

The Crop situation in the country is normal, which has boosted the rural income. The Rabi crop sowing has also been done in a larger area than the previous year. Company enjoyed good demand for its products from rural market and Tier III and Tier IV cities. 

In the current quarter, the demand also got a fillip from the Housing market. Several Policy initiatives have facilitated brisk sale of ready to occupy housing units. Demand for Company's housing products has revived in Metro cities. 

The demand for Furniture and Material handling products were higher compared to previous year. With a better offtake of consumer durables, the Company enjoyed good demand for its' industrial components business. 

The Company's Packaging segment working was affected due to increase in its raw material prices which could be passed over with a time lag, which may happen in the current quarter. 

Company has also introduced economy model of Tarpaulin also in Cross Laminated film segment having lower value addition. However, the overall demand for Cross Laminated film products for the year is expected at a higher level which may boost business to 21,000 MT in the year compared to 17,000 MT in the previous year. 

Protective packaging division in this segment has also fared better as demand has come from Construction, Consumer appliances, yoga mats and other segments. 

Plastic raw material prices remain at an elevated level. PVC resin prices have gone up by Rs. 23/- per kg in the quarter with an increase of 25% in its prices. The PVC prices remain even now at the elevated level. At the increased prices, there is a demand resistance from agricultural segment. It is expected that the resin prices may start softening by March. 

The Company's CAPEX plan is going smoothly. Along with carried forward investment commitment of Rs. 182 crore, the company has made a plan to invest around Rs. 400 crore in this year. The said investment is made mostly in its existing plants where additional construction activities are going on at Seven sites. Company is also now putting up new plants at three locations. Land for these plants have been already acquired at Orissa & Tamil Nadu. In Assam, the plant is being constructed on a lease agreement basis. Company aims to put all these new plants in production in the year 2021-22. 

The stock trades at Rs 1731.

Supreme Industries: Consolidated Result

 

2012 (03)1912 (03)Var. (%)2012 (09)1912 (09)Var. (%)2003 (12)1903 (12)Var. (%)
Sales1843.801373.32344272.474081.0555511.545611.99-2
OPM (%)21.812.918.112.915.113.0
OP401.56220.982774.51561.138829.55730.614
Profit from construction business0.00.00.00.05.0054.00
OP including construction business401.56220.9382774.51561.1238834.55784.576
Other inc.0.250.80-690.611.37-551.437.78-82
PBIDT401.81221.7381775.12562.4938835.98792.356
Interest-1.245.65-1229.0415.98-4320.1926.00-22
PBDT403.05216.0887766.08546.5140815.79766.356
Dep.54.9251.547157.99152.813205.68183.5412
PBT before EO348.13164.54112608.09393.7054610.11582.815
EO0.000.000.000.000.00-67.19
PBT after EO348.13164.54112608.09393.7054610.11650.00-6
Total Tax88.6441.91112155.9867.82130173.92215.75-19
PAT259.49122.63112452.11325.8839436.19434.250
Share of profit from associate52.790.7699975.6524.2421231.2114.38117
Net Profit312.28123.39153527.76350.1251467.40448.634
EPS (Rs) *####36.831.8
* Annualised on current equity of Rs 25.41 crore. Face Value: Rs 2 each
# EPS not annualised due to seasonality of business
EO: Extra Ordinary items, EPS is calculated after excluding EO and relevant tax
Figures in Rs crore, Var (%) exceeding 999 is restricted to 999
Source: Capitaline Database

Supreme Industries: Consolidated Segment results

 

Segments2012 (3)1912 (3)Var. (%)% to Total2012 (9)1912 (9)Var. (%)% to Total2003 (3)1903 (3)Var. (%)% to Total
Sales
Plastic piping products1140.20798.3743622752.042507.8510643444.873172.76963
Industrial products216.10156.563812468.03513.92-911673.19885.02-2412
Packaging Products317.92308.63317725.33751.69-417959.271041.81-817
Consumer Products116.74104.55126230.21288.22-205383.20399.38-47
Others52.845.21914396.8619.37400251.01113.02-551
TOTAL1843.801373.32341004272.474081.0551005511.545611.99-2100
PBIT
Plastic piping products250.27103.5414272464.28291.695974460.52312.834770
Industrial products20.058.49LP624.4418.5732432.5863.57-495
Packaging Products39.8743.74-91183.7968.152313101.51127.83-2115
Consumer Products22.8315.2750731.0239.08-21557.6055.9539
Others13.920.10999423.840.181314444.9753.68-911
TOTAL346.94171.14103100627.37417.6750100657.18613.867100

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