|
The company reported net sales were up by 17% to Rs 1235.32 crore. OPM was lower by 70 bps to 12.9% thus restricting the OP growth to 11% to Rs 159.36 crore. There was a profit on construction business of Rs 53.10 crore for Sep 18 quarter as compared to Nil for Sep 17 quarter. Thus OP including construction profit was up by 48% to Rs 212.46 crore. Other income stood at Rs 5.48 crore as compared to Rs 0.12 crore for Sep 17 quarter. After providing for Interest cost of Rs 10.42 crore and depreciation of Rs 47.25 crore, PBT for Sep 17 quarter stood at Rs 160.27 crore. After providing total tax of Rs 55.52 crore and Share of profit from associate of Rs 2.53 crore, PAT for Sep 18 quarter stood at Rs 107.28 crore up by 51% YoY.
Performance for H1 ended Sep 18
For H1 ended Sep 18, net sales were up by 16% to Rs 2581.02 crore. OPM was lower by 30 bps to 13.4% thus restricting the OP growth to 14% to Rs 345.04 crore. There was profit from construction business of Rs 53.10 crore as compared to Nil for H1 ended Sep 17, thus, OP after considering the profit from construction business stood at Rs 398.14 crore up by 32%. Other income stood at Rs 6.07 crore as compared to Rs 0.55 crore for H1 ended Sep 17. After providing interest and depreciation of Rs 14.36 crore and Rs 89.93 crore, PBT for H1 ended Sep 18 stood at Rs 299.92 crore up by 42% YoY. There was an EO income of Rs 55.88 crore pertaining to profit from divestment of Khushkheda unit. Thus PBT after EO stood at Rs 355.80 crore up by 68% YoY. After providing total tax of Rs 120.71 crore and share of profit from associate of Rs 8.51 crore, PAT for H1 ended Sep 18 stood at Rs 243.60 crore up by 63% YoY.
Mr. M. P. Taparia, Managing Director, The Supreme Industries Limited, said:
With the startup of new green field petrochemical plants and Capacity, expansion of existing plants have boosted supply of Plastics Raw Materials. The international Polymer prices have downward bias going forward for this financial year. Thus the polymer prices will remain affordable for the year. The demand for plastics products remains positive with a higher growth potential. The company remains fully committed to its investment plans as announced in beginning of the year.
New plant to manufacturer Industrial Components at Giloth (Rajasthan) has commenced commercial production during September, 2018.
Capacity of Roto Moulded products at Malanpur Unit III (M.P.) and at Kanpur (U.P.) has become operational. Expanded capacities of both the plants are 2400 MT p.a. The new plant to make HOPE Pipe of 9000 MT p.a. capacity at Malanpur unit III has Commenced Trial production.
New plant to manufacture PP Corrugated Sheet with a capacity of 3600 MT p.a. has been commissioned at Derabassi Unit (Punjab).
The Construction work is going full speed at Jadcherla (Telangana) unit. The Production of Furniture and Roto Moulded production at that unit will go in production during October-December quarter. The production of Foam products at that site will start in January-March' 2019 quarter.
Hosur unit will be streamlined with increased capacities at one site instead of two sites in October-December quarter.
The Khopoli unit expanded capacities will be in production during January-March' 2019 Quarter. The Company has made a breakthrough in export of Composite Cylinder in one more country apart from Bangladesh and South Korea.
The company has declared an interim dividend of Rs 4 per equity share of Rs 2 each.
|