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The Supreme Industries Limited reported consolidated revenue of ₹ 2,718 crore for Q1FY27

ICICIdirect Research 29 Jul 2026 DISCLAIMER

News: The Supreme Industries Limited reported consolidated revenue of ₹ 2,718 crore for Q1FY27, up 4% YoY, despite a 14% YoY decline in overall sales volumes to 1,57,536 MT (piping volumes down by 15% YoY) due to sharp polymer price corrections and channel inventory destocking. Segment wise, Plastic Piping Systems revenue remained flat at ₹ 1,791 crore, whereas Industrial/Packaging/Consumer products revenue rose by 24%/9%/-11% YoY to ₹ 373/₹ 438/₹ 87 crore. EBITDA rose 25% YoY to ₹ 398 crore with margin expanding 242 bps to 14.6%, while PAT increased 39% YoY to ₹ 281 crore. Revenue from value-added products grew 22% YoY to ₹ 1,142 crore.

View: Management has maintained its FY27 volume growth guidance of 15-17% for the Plastic Piping business and 12-13% overall, indicating confidence in a demand recovery after the weak start to the year. The company said restocking has commenced in Q2, supported by the implementation of Minimum Import Prices (MIP) and the withdrawal of import duty exemptions, which have stabilised polymer prices. Capacity expansion also remains on track, with ₹ 500 crore of the planned ₹ 1,000 crore capex already completed. New growth drivers are emerging, with the uPVC windows and profiling business expected to achieve around ₹ 350 crore of revenue at normal utilisation, while management is targeting exports of US$150 million over the next 6-7 years, supported by new FTAs and continued investments in product development and market access.

Impact: Neutral

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