The Supreme Industries Ltd announces acquisition of Business of Parvati Agro Plast

The Supreme Industries Limited (Supreme), India's leading Plastics products manufacturing Company today announces that Company has taken charge of the Manufacturing Unit /Business of Parvati Agro Plast. This Unit being the 29th Unit / Manufacturing facility of the Company will be in operation w.e.f from today i.e. 17th October, 2023.

The Unit is spread over an area of about 13. 48 Acres of land. The installed capacities at the said Unit aggregate 36000 MT pa comprises PVC Pipe - 15000 MT p.a., HDPE Pipes - 18,000 MT p.a. and PVC-O Pipes - 3000 MT p.a.

Commenting on the development, Mr. M.P. Taparia, Managing Director of The Supreme Industries Limited said: This milestone strengthens Company's presence at bordering districts of Maharashtra and Noth Karnataka. We believe that this acquisition will enable the Company's products to reach more areas and Customers at economical and efficient manner. The Company adding PVC-O manufacturing technology in its basket and entering this segment will pave the way for faster growth and achieve its aim to add more value-added products in the product basket. The Company will be investing about Rs.200 Crores for expanding its PVC-O capacity further over the next two to three years and envisages achieving revenue of more than Rs.500 Crores per annum from this facility after the completion of envisaged expansion. We believe that PVC-O have a good scope of business in Indian Market.

By this acquisition, the Company's total Installed Capacity of Plastic Piping Systems products will be 7,80,000 MTPA by the end of FY 24. The Company is a leader in the Plastics Piping Systems and has the largest portfolio of products which is being continuously expanded. The Company presently has 38 Piping systems which provide end-to-end solutions for varied applications.

Shares of Supreme Industries Limited was last trading in BSE at Rs. 4626.80 as compared to the previous close of Rs. 4338.75. The total number of shares traded during the day was 9699 in over 1870 trades.

The stock hit an intraday high of Rs. 4696.80 and intraday low of 4345.00. The net turnover during the day was Rs. 43611036.00.

Source : Equity Bulls

Keywords

SupremeIndustries INE195A01028 Acquisition ParvatiAgroPlast