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Plastic Products company Supreme Industries announced Q3FY24 & 9MFY24 results:
Standalone Q3FY24 vs Q3FY23:
- Plastic goods sold: Q3FY24 - 1,58,025 MT (up 14.21% from 1,38,362 MT in Q3FY23).
- Total Income: Q3FY24 - Rs 2,481.37 crore (a 6.47% increase from Rs 2,330.60 crore in Q3FY23).
- Operating Profit: Q3FY24 - Rs 379.29 crore (25.01% of Total Income, up from Rs 303.41 crore, which was 13.02% in Q3FY23).
- Profit Before Tax (PBT): Q3FY24 - Rs 329.16 crore (an increase from Rs 257.37 crore in Q3FY23).
- Profit After Tax (PAT) Before OCI: Q3FY24 - Rs 247.36 crore (up from Rs 194.08 crore in Q3FY23).
- Earnings Per Share: Q3FY24 - Rs 19.47 (compared to Rs 15.28 in Q3FY23).
Consolidated Q3FY24 vs Q3FY23:
- Total Consolidated Income: Q3FY24 - Rs 2,469.81 crore (a 6.50% increase from Rs 2,319.00 crore in Q3FY23).
- Operating Profit: Q3FY24 - Rs 399.66 crore (up 20.77% from Rs 330.94 crore in Q3FY23).
- Profit Before Tax (PBT): Q3FY24 - Rs 337.97 crore (up from Rs 273.32 crore in Q3FY23).
- Profit After Tax (PAT) Before OCI: Q3FY24 - Rs 256.17 crore (an increase from Rs 210.03 crore in Q3FY23).
- Earnings Per Share: Q3FY24 - Rs 20.17 (compared to Rs 16.53 in Q3FY23).
Consolidated Financial Performance (9MFY24 vs 9MFY23):
- Total Income increased by 8.34% to Rs 7,173.97 crore.
- Operating Profit grew by 36.34%, amounting to Rs 1,122.83 crore.
- PBT rose by 45.50% to Rs 940.82 crore.
- PAT Before OCI increased by 41.31%, reaching Rs 714.90 crore.
M. P. Taparia, Managing Director, The Supreme Industries, said: "Polymer prices have stabilized at an affordable level. Red Sea conflict has disrupted normal business flow. The price volatility may become severe if this conflict becomes more wide spread.
In our country additional petrochemical plants have gone into operation. Further capacities to make Polymers are expected to go into production in the country in next 2-3 years. This augurs well to plan further growth in the Company’s businesses.
The Company has acquired M/s Parvati Agro plast at Sangli (Maharashtra), with a capacity of 36000 tons per annum. The additional adjoining land of 7.76 acre which was part of the deal is still waiting for certain Government clearances to come to Company’s ownership. Several balancing equipment’s to run the plant fully are still to come. The Company expects to run this Unit at full capacity beginning February this year.
The construction of the Company’s fourth plant at Malanpur is going in full speed. It is expected that the plant will be put in operation during the during 1st quarter of FY 2024-25. This plant is geared to manufacture Ball valves and Industrial vales.
The Company received BIS approval for supplying it’s HDPE pipe for carrying Natural Gas. The Company expects to introduce this new system to the market in 4th quarter of current year. The plant to produce Accoustics Polypropylene pipe is expected to go into operation during July-September 2024.
The Company has started offering its CPVC pipe system for Industrial application. Earlier, the Company was catering plumbing and fire sprinkler system from CPVC raw materials. The company will now be able to cater to demand for Industrial Piping requirements from CPVC material."
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