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Results
22-Oct-21
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Analysis
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Supreme Industries
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Business revival in all segments
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Supreme
Industries consolidated net sales increased 40.28% to Rs 1928.54 crore in
Q2FY22 compared to Q2FY21. Sales of
plastics piping products segment has gone up 49.58% to Rs 1,267.28 crore
(accounting for 65.71% of total sales).
Sales of Industrial Products segment has gone up 39.40% to Rs 252.95
crore (accounting for 13.12% of total sales).
Sales of Packing Products segment rose 26.13% to Rs 277.28 crore
(accounting for 14.38% of total sales).
Sales of Consumer Products segment has gone up 30.07% to Rs 111.17 crore
(accounting for 5.76% of total sales).
Sales of Others segment has gone down 51.29% to Rs 19.86 crore
(accounting for 1.03% of total sales).
Operating
profit margin has declined from 18.61% to 16.12%, leading to 21.47% rise in
operating profit to Rs 310.79 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
61.50% to 67.50%. Purchase of finished
goods cost fell from 2.68% to 1.57%.
Employee cost decreased from 4.95% to 4.41%. Other expenses fell from 13.46% to
10.71%. Power and Oil fuel cost fell
from 3.64% to 2.88%.
Other
income rose 35.88% to Rs 4.09 crore.
PBIDT rose 21.64% to Rs 314.88 crore.
Provision for interest fell 87.45% to Rs 0.68 crore. PBDT rose 23.97% to Rs 314.2 crore. Provision for depreciation rose 9.24% to Rs
57.13 crore.
Profit
before interest, tax and other unallocable items (PBIT) has jumped 24.30% to Rs
258.36 crore. PBIT of Plastics Piping
Products segment rose 31.50% to Rs 194.02 crore (accounting for 75.10% of total
PBIT). PBIT of Industrial Products
segment rose 60.22% to Rs 19.21 crore (accounting for 7.44% of total
PBIT). PBIT of Packing Products segment
fell 0.43% to Rs 25.48 crore (accounting for 9.86% of total PBIT). PBIT of Consumer Products segment rose 37.90%
to Rs 17.50 crore (accounting for 6.77% of total PBIT). PBIT of Others segment fell 78.59% to Rs 2.15
crore (accounting for 0.83% of total PBIT).
PBIT
margin of Plastics Piping Products segment fell from 17.41% to 15.31%. PBIT margin of Industrial Products segment
rose from 6.61% to 7.59%. PBIT margin of
Packing Products segment fell from 11.64% to 9.19%. PBIT margin of Consumer Products segment rose
from 14.85% to 15.74%. PBIT margin of
Others segment fell from 24.63% to 10.83%.
Overall PBIT margin fell from 15.12% to 13.40%.
Profit
before tax grew 27.81% to Rs 257.07 crore.
Share of profit/loss was 47.53% higher at Rs 39.11 crore. Provision for tax was expense of Rs 67.47
crore, compared to Rs 52.7 crore.
Effective tax rate was 22.78% compared to 23.15%.
Net
profit attributable to owners of the company increased 30.73% to Rs 228.71
crore.
Promoters’
stake was 48.85% as of 30 September 2021 ,compared to 48.85% as of 30 September
2020 .
For year-to-date (YTD)
results analysis
Net
sales (including other operating income) of Supreme Industries has increased
34.67% to Rs 3270.62 crore. Sales of
Plastics Piping Products segment has gone up 30.18% to Rs 2,098.33 crore
(accounting for 64.16% of total sales).
Sales of Industrial Products segment has gone up 79.36% to Rs 451.87
crore (accounting for 13.82% of total sales).
Sales of Packing Products segment rose 27.98% to Rs 521.41 crore
(accounting for 15.94% of total sales).
Sales of Consumer Products segment has gone up 40.68% to Rs 159.63 crore
(accounting for 4.88% of total sales).
Sales of Others segment has gone down 10.54% to Rs 39.38 crore
(accounting for 1.20% of total sales).
Operating
profit margin has jumped from 15.36% to 16.29%, leading to 42.86% rise in
operating profit to Rs 532.80 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
62.85% to 67.02%. Purchase of finished goods cost fell from 2.00% to 1.73%. Employee
cost decreased from 5.79% to 4.81%. Other expenses fell from 13.48% to 11.08%. Power
and Oil fuel cost fell from 3.76% to 2.91%.
Other
income rose 68.88% to Rs 8.41 crore.PBIDT rose 43.20% to Rs 541.21 crore. Provision
for interest fell 81.14% to Rs 2.81 crore. PBDT rose 48.31% to Rs 538.4 crore. Provision
for depreciation rose 9.86% to Rs 113.23 crore.
Profit
before interest, tax and other Unallocable items (PBIT) has jumped 53.09% to Rs
429.32 crore. PBIT of Plastics Piping
Products segment rose 56.81% to Rs 335.58 crore (accounting for 78.17% of total
PBIT). PBIT of Industrial Products
segment rose 615.49% to Rs 31.41 crore (accounting for 7.32% of total
PBIT). PBIT of Packing Products segment
fell 2.96% to Rs 42.62 crore (accounting for 9.93% of total PBIT). PBIT of Consumer Products segment rose
121.25% to Rs 18.12 crore (accounting for 4.22% of total PBIT). PBIT of Others segment fell 83.97% to Rs 1.59
crore (accounting for 0.37% of total PBIT).
PBIT
margin of Plastics Piping Products segment rose from 13.28% to 15.99%. PBIT margin of Industrial Products segment
rose from 1.74% to 6.95%. PBIT margin of
Packing Products segment fell from 10.78% to 8.17%. PBIT margin of Consumer Products segment rose
from 7.22% to 11.35%. PBIT margin of
Others segment fell from 22.54% to 4.04%.
Overall PBIT margin rose from 11.55% to 13.13%.
Profit
before tax grew 63.55% to Rs 425.17 crore.
Share of profit/loss was 268.02% higher at Rs 84.13 crore. Provision for tax was expense of Rs 110.43
crore, compared to Rs 67.34 crore.
Effective tax rate was 21.68% compared to 23.81%.
Net
profit attributable to owners of the company increased 85.11% to Rs 398.87
crore.
FY 2021 consolidated
results
Net
sales (including other operating income) of Supreme Industries has increased
15.34% to Rs 6357.06 crore. Sales of
Plastics Piping Products segment has gone up 18.98% to Rs 4,098.79 crore
(accounting for 64.48% of total sales).
Sales of Industrial Products segment has gone up 13.06% to Rs 761.12
crore (accounting for 11.97% of total sales).
Sales of Packing Products segment rose 7.90% to Rs 1,035.06 crore
(accounting for 16.28% of total sales).
Sales of Consumer Products segment has gone down 7.57% to Rs 354.21
crore (accounting for 5.57% of total sales).
Sales of Others segment has gone up 111.49% to Rs 107.88 crore
(accounting for 1.70% of total sales).
Operating
profit margin has jumped from 15.14% to 20.20%, leading to 53.89% rise in
operating profit to Rs 1,284.25 crore.
Raw material cost as a % of total sales (net of stock adjustments) decreased
from 65.17% to 60.65%. Purchase of finished goods cost rose from 0.83% to
1.99%. Employee cost increased from 4.91% to 5.00%. Other expenses fell from 14.41% to
11.66%.
Other
income rose 198.60% to Rs 4.27 crore.
Provision for interest fell 52.95% to Rs 9.5 crore. Loan funds declined from Rs 440.42 crore as
of 31 March 2020 to Rs 26.27 crore as of 31 March 2021. Inventories declined from Rs 890.57 crore as
of 31 March 2020 to Rs 760.77 crore as of 31 March 2021. Sundry debtors were higher at Rs 389.83 crore
as of 31 March 2021 compared to Rs 312.84 crore as of 31 March 2020. Cash and bank balance rose to Rs 768.40 crore
as of 31 March 2021 from Rs 231.39 crore as of 31 March 2020. Investments rose to Rs 336.59 crore as of 31
March 2021 from Rs 207.30 crore as of 31 March 2020 .
Profit
before interest, tax and other unallocable items (PBIT) has jumped 66.35% to Rs
1,093.23 crore. PBIT of Plastics Piping
Products segment rose 78.34% to Rs 821.29 crore (accounting for 75.13% of total
PBIT). PBIT of Industrial Products
segment rose 94.78% to Rs 63.46 crore (accounting for 5.80% of total
PBIT). PBIT of Packing Products segment
rose 22.74% to Rs 124.59 crore (accounting for 11.40% of total PBIT). PBIT of Consumer Products segment rose 3.58%
to Rs 59.66 crore (accounting for 5.46% of total PBIT). PBIT of Others segment rose 387.53% to Rs
24.23 crore (accounting for 2.22% of total PBIT).
PBIT
margin of Plastics Piping Products segment rose from 13.37% to 20.04%. PBIT margin of Industrial Products segment
rose from 4.84% to 8.34%. PBIT margin of
Packing Products segment rose from 10.58% to 12.04%. PBIT margin of Consumer Products segment rose
from 15.03% to 16.84%. PBIT margin of
Others segment rose from 9.74% to 22.46%.
Overall PBIT margin rose from 11.92% to 17.20%.
Provision
for depreciation rose 3.46% to Rs 212.79 crore.
Fixed assets increased to Rs 1,754.12 crore as of 31 March 2021 from Rs
1,684.64 crore as of 31 March 2020.
Intangible assets declined from Rs 16.02 crore to Rs 11.18 crore.
Profit
before tax grew 74.76% to Rs 1,066.23 crore. Share of profit/loss was 367.77%
higher at Rs 145.99 crore. Provision for
tax was expense of Rs 234.08 crore, compared to Rs 173.92 crore. Effective tax rate was 19.31% compared to
27.12%.
Net
profit attributable to owners of the company increased 109.27% to Rs 978.14
crore.
Promoters’
stake was 48.85% as of 31 March 2021 compared to 49.94% as of 31 March 2020.
The
Board of Directors has declared the interim dividend @ 300 % i.e. Rs. 6 per
share of Rs. 2 each (FV), for the financial year 2021-22
The
stock trades at Rs 2366.
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Supreme
Industries: Consolidated Result
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Particulars
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2109 (03)
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2009 (03)
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Var. (%)
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2109 (06)
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2009 (06)
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Var. (%)
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2103 (12)
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2003 (12)
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Var. (%)
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Sales
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1928.54
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1374.78
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40
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3270.62
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2428.67
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35
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6357.06
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5511.54
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15
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OPM (%)
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16.1
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18.6
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16.3
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15.4
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20.2
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15.1
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OP
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310.79
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255.85
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21
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532.80
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373.0
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43
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1284.25
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829.55
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55
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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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0.00
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5.00
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OP including construction
business
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310.79
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255.85
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21
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532.80
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372.95
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43
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1284.25
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834.55
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54
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Other inc.
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4.09
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3.01
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999
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8.41
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4.98
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999
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4.27
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1.43
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199
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PBIDT
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314.88
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258.86
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22
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541.21
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377.93
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43
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1288.52
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835.98
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54
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Interest
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0.68
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5.42
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-87
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2.81
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14.90
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-81
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9.50
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20.19
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-53
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PBDT
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314.20
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253.44
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24
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538.40
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363.03
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48
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1279.02
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815.79
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57
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Dep.
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57.13
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52.30
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9
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113.23
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103.07
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10
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212.79
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205.68
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3
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PBT before Share of profit
of Associates
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257.07
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201.14
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28
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425.17
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259.96
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64
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1066.23
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610.11
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75
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Share of profit of
Associates
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39.11
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26.51
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48
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84.13
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22.86
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268
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145.99
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31.21
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368
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PBT before EO
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296.18
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227.65
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30
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509.30
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282.82
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80
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1212.22
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641.32
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89
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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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0.00
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0.00
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PBT after EO
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296.18
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227.65
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30
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509.30
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282.82
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80
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1212.22
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641.32
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89
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Total Tax
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67.47
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52.70
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28
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110.43
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67.34
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64
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234.08
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173.92
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35
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PAT
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228.71
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174.95
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31
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398.87
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215.48
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85
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978.14
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467.40
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109
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EPS (Rs) *
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#
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#
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#
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#
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77.0
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36.8
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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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2109 (03)
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2009 (03)
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Var.(%)
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% of (Total)
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2109 (06)
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2009 (06)
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Var.(%)
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% of (Total)
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2103 (12)
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2003 (12)
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Var.(%)
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Sales
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Plastics Piping Products
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66
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1,267.28
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847.25
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50
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64
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2,098.33
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1,611.84
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30
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64
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4,098.79
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3,444.87
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19
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Industrial Products
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13
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252.95
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181.45
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39
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14
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451.87
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251.93
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79
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12
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761.12
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673.19
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13
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Packing Products
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14
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277.28
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219.84
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26
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16
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521.41
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407.41
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28
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16
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1,035.06
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959.27
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8
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Consumer Products
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6
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111.17
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85.47
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30
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5
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159.63
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113.47
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41
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6
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354.21
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383.2
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-8
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Others
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1
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19.86
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40.77
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-51
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1
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39.38
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44.02
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-11
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2
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107.88
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51.01
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111
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Total Reported Sales
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100
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1,928.54
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1,374.78
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40
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100
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3,270.62
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2,428.67
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35
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100
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6,357.06
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5,511.54
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15
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PBIT
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Plastics Piping Products
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75
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194.02
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147.54
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32
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78
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335.58
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214.01
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57
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75
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821.29
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460.52
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78
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Industrial Products
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7
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19.21
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11.99
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60
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7
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31.41
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4.39
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615
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6
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63.46
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32.58
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95
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Packing Products
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10
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25.48
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25.59
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0
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10
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42.62
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43.92
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-3
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11
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124.59
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101.51
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23
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Consumer Products
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7
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17.5
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12.69
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38
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4
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18.12
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8.19
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121
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5
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59.66
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57.6
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4
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Others
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1
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2.15
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10.04
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-79
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0
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1.59
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9.92
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-84
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2
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24.23
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4.97
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388
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Total PBIT
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100
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258.36
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207.85
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24
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100
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429.32
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280.43
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53
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100
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1,093.23
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657.18
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66
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Less : Interest
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0.68
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5.42
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-87
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2.81
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14.9
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-81
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22.13
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20.19
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10
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Add: Other un-allcoable
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38.5
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25.22
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53
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82.79
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17.29
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379
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141.12
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4.33
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999
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PBT
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296.18
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227.65
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30
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509.30
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282.82
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80
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1,212.22
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641.32
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89
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Previous News |
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15:15
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