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Results
27-Apr-24
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Analysis
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Supreme Industries
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Sales up 16%, NP down 1%
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Consolidated
net sales (including other operating income) of Supreme Industries has
increased 15.76% to Rs 3007.89 crore.
Sales of Plastics Piping Products segment has gone up 21.56% to Rs
2,152.53 crore (accounting for 71.56% of total sales). Sales of Industrial Products segment has gone
down 4.64% to Rs 351.56 crore (accounting for 11.69% of total sales). Sales of Packing Products segment rose 16.51%
to Rs 376.41 crore (accounting for 12.51% of total sales). Sales of Consumer Products segment has gone
down 2.23% to Rs 118.35 crore (accounting for 3.93% of total sales). Sales of Others segment has gone down 38.55%
to Rs 9.04 crore (accounting for 0.30% of total sales).
Profit
before interest, tax and other unallocable items (PBIT) has jumped 1.61% to Rs
420.18 crore. PBIT of Plastics Piping
Products segment fell 11.09% to Rs 292.62 crore (accounting for 69.64% of total
PBIT). PBIT of Industrial Products
segment rose 7.07% to Rs 39.54 crore (accounting for 9.41% of total PBIT). PBIT of Packing Products segment rose 172.55%
to Rs 67.81 crore (accounting for 16.14% of total PBIT). PBIT of Consumer Products segment fell 4.65%
to Rs 20.52 crore (accounting for 4.88% of total PBIT). PBIT of Others reported loss of Rs 0.31 crore
compared to profit of Rs 1.09 crore.
PBIT
margin of Plastics Piping Products segment fell from 18.59% to 13.59%. PBIT margin of Industrial Products segment
rose from 10.02% to 11.25%. PBIT margin
of Packing Products segment rose from 7.70% to 18.01%. PBIT margin of Consumer Products segment fell
from 17.78% to 17.34%. PBIT margin of
Others segment fell from 7.41% to 3.43%.
Overall PBIT margin fell from 15.92% to 13.97%.
Operating
profit margin has declined from 18.48% to 16.31%, leading to 2.16% rise in
operating profit to Rs 490.67 crore. Raw
material cost as a % of total sales (net of stock adjustments) decreased from
64.68% to 63.77%. Purchase of finished
goods cost fell from 1.24% to 0.72%.
Employee cost increased from 3.91% to 4.46%. Other expenses rose from 11.36% to
13.30%. Power and Oil fuel cost rose
from 2.92% to 3.12%.
Other
income rose 58.55% to Rs 18.09 crore.
PBIDT rose 3.47% to Rs 508.76 crore.
Provision for interest rose 91.09% to Rs 7.72 crore.
PBDT
rose 2.75% to Rs 501.04 crore. Provision
for depreciation rose 7.03% to Rs 77.17 crore.
Fixed assets increased to Rs 2,466.81 crore as of 31 March 2024 from Rs
2,142.50 crore as of 31 March 2023.
Intangible assets declined from Rs 5.45 crore to Rs 4.24 crore.
Profit
before tax grew 2% to Rs 423.87 crore.
Share of profit/loss was 17.15% lower at Rs 40.69 crore. Provision for tax was expense of Rs 109.74
crore, compared to Rs 105.23 crore.
Effective tax rate was 23.62% compared to 22.65%.
Minority
interest was nil in both the periods.
Net profit attributable to owners of the company decreased 1.28% to Rs
354.82 crore.
Equity
capital stood at Rs 25.41 crore as of 31 March 2024 to Rs 25.41 crore as of 31
March 2023. Per share face Value
remained same at Rs 2.00.
Promoters’
stake was 48.85% as of 31 March 2024 ,compared to 48.85% as of 31 March 2023
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Full year results
analysis
Net
sales (including other operating income) of Supreme Industries has increased
10.14% to Rs 10134.26 crore. Sales of
Plastics Piping Products segment has gone up 14.81% to Rs 6,931.57 crore
(accounting for 68.40% of total sales).
Sales of Industrial Products segment has gone down 2.52% to Rs 1,307.82
crore (accounting for 12.90% of total sales).
Sales of Packing Products segment rose 6.56% to Rs 1,405.67 crore
(accounting for 13.87% of total sales).
Sales of Consumer Products segment has gone down 0.80% to Rs 441.04
crore (accounting for 4.35% of total sales).
Sales of Others segment has gone down 17.96% to Rs 48.16 crore
(accounting for 0.48% of total sales).
Profit
before interest, tax and other unallocable items (PBIT) has jumped 32.90% to Rs
1,275.62 crore. PBIT of Plastics Piping
Products segment rose 32.52% to Rs 900.18 crore (accounting for 70.57% of total
PBIT). PBIT of Industrial Products
segment fell 8.55% to Rs 113.33 crore (accounting for 8.88% of total
PBIT). PBIT of Packing Products segment
rose 105.06% to Rs 187.69 crore (accounting for 14.71% of total PBIT). PBIT of Consumer Products segment rose 11.07%
to Rs 75.33 crore (accounting for 5.91% of total PBIT). PBIT of Others segment rose 66.17% to Rs
-0.91 crore (accounting for -0.07% of total PBIT).
PBIT
margin of Plastics Piping Products segment rose from 11.25% to 12.99%. PBIT margin of Industrial Products segment
fell from 9.24% to 8.67%. PBIT margin of
Packing Products segment rose from 6.94% to 13.35%. PBIT margin of Consumer Products segment rose
from 15.25% to 17.08%. PBIT margin of
Others segment rose from negative 4.58% to negative 1.89%. Overall PBIT margin rose from 10.43% to
12.59%.
Operating
profit margin has jumped from 13.04% to 15.27%, leading to 28.98% rise in
operating profit to Rs 1,547.33 crore.
Raw material cost as a % of total sales (net of stock adjustments)
decreased from 70.17% to 66.66%.
Purchase of finished goods cost fell from 1.41% to 1.04%. Employee cost increased from 4.09% to 4.36%. Other expenses rose from 11.23% to
12.69%. Power and Oil fuel cost rose from
2.91% to 3.24%.
Other
income rose 120.66% to Rs 65.69 crore.
PBIDT rose 31.20% to Rs 1613.02 crore.
Provision for interest rose 101% to Rs 16.12 crore. Loan funds rose to Rs 55.06 crore as of 31
March 2024 from Rs 51.17 crore as of 31 March 2023. Inventories declined from Rs 1,385.64 crore
as of 31 March 2023 to Rs 1,358.59 crore as of 31 March 2024. Sundry debtors were higher at Rs 511.44 crore
as of 31 March 2024 compared to Rs 492.38 crore as of 31 March 2023. Cash and bank balance rose to Rs 1,187.29
crore as of 31 March 2024 from Rs 746.08 crore as of 31 March 2023. Investments rose to Rs 638.14 crore as of 31
March 2024 from Rs 577.35 crore as of 31 March 2023 .
PBDT
rose 30.74% to Rs 1596.9 crore.
Provision for depreciation rose 13.28% to Rs 298.38 crore. Fixed assets increased to Rs 2,466.81 crore as
of 31 March 2024 from Rs 2,142.50 crore as of 31 March 2023. Intangible assets declined from Rs 5.45 crore
to Rs 4.24 crore.
Profit
before tax grew 35.54% to Rs 1,298.52 crore.
Share of profit/loss was 30.27% lower at Rs 106.86 crore. Provision for tax was expense of Rs 335.66
crore, compared to Rs 245.96 crore.
Effective tax rate was 23.88% compared to 22.13%.
Minority
interest was nil in both the periods.
Net profit attributable to owners of the company increased 23.62% to Rs
1,069.72 crore.
Equity
capital stood at Rs 25.41 crore as of 31 March 2024 to Rs 25.41 crore as of 31
March 2023. Per share face Value
remained same at Rs 2.00.
Promoters’
stake was 48.85% as of 31 March 2024 ,compared to 48.85% as of 31 March
2023.
Cash
flow from operating activities increased to Rs 1,412.90 crore for year ended
March 2024 from Rs 890.34 crore for year ended March 2023. Cash flow used in acquiring fixed assets
during the year ended March 2024 stood at Rs 549.34 crore, compared to Rs
424.33 crore during the year ended March 2023.
The
stock trades at Rs 4402.
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Supreme
Industries: Consolidated Result
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Particulars
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2403 (03)
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2303 (03)
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Var. (%)
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2403 (12)
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2303 (12)
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Var. (%)
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Sales
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3007.89
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2598.30
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16
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10134.26
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9201.59
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10
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OPM (%)
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16.3
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18.5
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15.3
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13.0
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OP
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490.67
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480.28
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2
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1547.33
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1199.68
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29
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Profit from construction
business
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0.0
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0.0
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0.0
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0.0
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OP including construction
business
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490.67
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480.28
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2
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1547.33
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1199.68
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29
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Other inc.
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18.09
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11.41
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59
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65.69
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29.77
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121
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PBIDT
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508.76
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491.69
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3
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1613.02
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1229.45
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31
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Interest
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7.72
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4.04
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91
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16.12
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8.02
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101
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PBDT
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501.04
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487.65
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3
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1596.90
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1221.43
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31
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Dep.
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77.17
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72.10
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7
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298.38
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263.39
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13
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PBT before Share of
profit of Associates
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423.87
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415.55
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2
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1298.52
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958.04
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36
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Share of profit of
Associates
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40.69
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49.11
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-17
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106.86
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153.25
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-30
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PBT before EO
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464.56
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464.66
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0
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1405.38
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1111.29
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26
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EO
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0.00
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0.00
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0.00
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0.00
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PBT after EO
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464.56
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464.66
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0
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1405.38
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1111.29
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26
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Total Tax
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109.74
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105.23
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4
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335.66
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245.96
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36
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PAT
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354.82
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359.43
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-1
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1069.72
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865.33
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24
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EPS (Rs) *
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#
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#
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84.2
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68.1
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* Annualised on
current equity of Rs 25.41 crore. Face Value: Rs 2 each
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# EPS not
annualised due to seasonality of business
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EO: Extra
Ordinary items, EPS is calculated after excluding EO and relevant tax
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Figures in Rs
crore, Var (%) exceeding 999 is restricted to 999
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Source:
Capitaline Database
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Supreme Industries : Consolidated
Segment Results
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% of (Total)
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2403 (03)
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2303 (03)
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Var.(%)
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% of (Total)
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2403 (12)
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2303 (12)
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Var.(%)
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Sales
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Plastics Piping Products
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72
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2,152.53
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1,770.80
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22
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68
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6,931.57
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6,037.53
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15
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Industrial Products
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12
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351.56
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368.67
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-5
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13
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1,307.82
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1,341.63
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-3
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Packing Products
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13
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376.41
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323.07
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17
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14
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1,405.67
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1,319.13
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7
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Consumer Products
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4
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118.35
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121.05
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-2
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4
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441.04
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444.6
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-1
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Others
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0
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9.04
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14.71
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-39
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0
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48.16
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58.7
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-18
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Total Reported Sales
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100
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3,007.89
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2,598.30
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16
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100
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10,134.26
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9,201.59
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10
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Less: Inter segment revenues
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0
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0
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-
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0
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0
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-
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Net Sales
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100
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3,007.89
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2,598.30
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16
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100
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10,134.26
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9,201.59
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10
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PBIT
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Plastics Piping Products
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70
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292.62
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329.12
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-11
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71
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900.18
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679.27
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33
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Industrial Products
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9
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39.54
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36.93
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7
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9
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113.33
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123.92
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-9
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Packing Products
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16
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67.81
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24.88
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173
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15
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187.69
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91.53
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105
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Consumer Products
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5
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20.52
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21.52
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-5
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6
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75.33
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67.82
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11
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Others
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0
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-0.31
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1.09
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PL
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0
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-0.91
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-2.69
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66
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Total PBIT
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100
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420.18
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413.54
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2
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100
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1,275.62
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959.85
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33
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Less : Interest
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7.72
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4.04
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91
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16.12
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8.02
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101
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Add: Other un-allcoable
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52.1
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55.16
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-6
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145.88
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159.46
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-9
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PBT
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100
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464.56
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464.66
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0
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100
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1,405.38
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1,111.29
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26
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