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Supreme Industries Ltd Q1FY22 consolidated PAT falls QoQ to Rs. 170.16 crores

Posted On: 2021-07-21 07:48:33 (Time Zone: UTC)


SUPREME INDUSTRIES LTD. has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.1346.40 crores during the period ended June 30, 2021 as compared to Rs.2092.83 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.170.16 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.450.38 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.13.40 for the period ended June 30, 2021 as compared to Rs.35.46 for the period ended March 31, 2021.

FinancialsQ1 FY2021-22Q4 FY20-21% Change
Total Income₹ 1346.40 crs₹ 2092.83 crsDown Tick -35.67%
Net Profit₹ 170.16 crs₹ 450.38 crsDown Tick -62.22%
EPS₹ 13.40₹ 35.46Down Tick -62.21%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.1346.40 crores during the period ended June 30, 2021 as compared to Rs.1055.86 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.170.16 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.40.53 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.13.40 for the period ended June 30, 2021 as compared to Rs.3.19 for the period ended June 30, 2020.

FinancialsQ1 FY2021-22Q1 FY2020-21% Change
Total Income₹ 1346.40 crs₹ 1055.86 crsUp Tick 27.52%
Net Profit₹ 170.16 crs₹ 40.53 crsUp Tick 319.84%
EPS₹ 13.40₹ 3.19Up Tick 320.06%

Mr. M. P. Taparia, Managing Director, The Supreme Industries Limited, said: During the first quarter of the current year the business was severely disrupted due to second wave of Covid-19. This time, the infection was quite widespread in rural areas. April and May are the peak season for PVC Pipe System for Agriculture application.

As the rural market was badly affected by the Pandemic, the Agricultural demand took a big hit resulting in huge volume loss of business in Piping segment The Company was thus required to carry forward the pipe inventory which was kept ready to meet large seasonal demand of Agricultural pipes. Plastic Piping System thus saw a volume de-growth of 36% compared to corresponding quarter in the previous year.

PVC prices have started going up now, after a drop of Rs. 19/- per kg since April 2021. The demand in Construction segment has now opened up. Company expects that the First quarter loss in volume in Piping System not only be recovered but will show a growth in full year.

The upcoming unit to make Plastic Pipe system at Guwahati will be operational by October 2021. The Company has taken in hand to put the plastic product complex in Orissa with an outlay of Rs. 121 Crores in the current year. The same may be operational in last quarter of 2021-22.

Total capex planned for the year has now increased to Rs. 521 Crores from earlier Rs. 400 Crores including carried forward commitments of previous year.

Compression Moulded Olefin fittings have gone into commercial production at Jadcherla since June to cater to the growing demand in "Nal-se-Jal" Scheme.

The Second wave of Pandemic and the resultant localized lockdown has adversely affected the demand supply chain during the first quarter, which is the peak demand period for Tarpaulins. The sales of Cross Limited Film products were down by 12.52 % in first quarter compared to the corresponding quarter in the previous year.

The production has also taken a hit during the first quarter due to scarcity of labour on account of large infection in rural area. The silver lining is that the exports have gone up by around 50% in the quarter, compared to the first quarter of last year. With the waning of second wave, the labourers are back and the production is running at full capacity. The good run in exports is continuing.

The furniture business has shown a volume growth of 40 % in the quarter compared to previous year similar quarter. The value added products sales have gone up to Rs. 23.26 Crores compared to Rs. 13.41 crores in the same quarter of last year. This division is working on Digital campaign on several media sites such as Facebook, you tube, Instagram for brand promotion. The business expects to have a decent growth in this year over previous year.

Business scenario remains bullish in Industrial Component Business barring the initial disruption during first quarter. Division is working with its existing customers for new business apart from developing new customers. Company is putting need based capital expenditure to meet increased business requirements.

Material Handling Products being intermediary to supply of essential products have done good business both in terms of value and volume. Division is working to introduce various new products/applications from Injection Moulding and Roto Moulding process. Expansion of capacities at its plant at Lalru (Punjab) and Gadegaon (Maharashtra)is nearing completion and shall be operational by July-August, 2021.

In Composite LPG Cylinder division, repeated orders from existing as well as new customers are continuing. Domestic Oil Marketing Companies IOCL and BPCL have also floated enquiries for purchases which augurs well for the long awaited introduction of Composite Cylinders in the Indian market. Overall business scenario looks encouraging.

Protective Packaging Business has shown good improvement over corresponding quarter of previous year. New products for export market have been well received. Its retail division for fitness products is also picking up well. Division is focusing on customized solutions and value addition to its OE customers.

Beginning of the current year, all the Polymer prices have shown softening trend. However, after reduction between 13% to 16% during the quarter, prices have again started firming up and expected to remain range bound.

The Company is committed to increasingly meet its energy requirements from Renewable sources and investing a sum of Rs. 35 crores in the current year to install Roof top solar energy generation plants at its various plant locations. The same shall be operational by October-November, 2021.

Shares of SUPREME INDUSTRIES LTD. was last trading in BSE at Rs.2104 as compared to the previous close of Rs. 2109.7. The total number of shares traded during the day was 5536 in over 1698 trades.

The stock hit an intraday high of Rs. 2127 and intraday low of 2078. The net turnover during the day was Rs. 11603068.


Source: Equity Bulls

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