Capitaline

Results 24-Jan-23

Analysis

Supreme Industries

Sales up 19%, OP down 5%

Consolidated net sales of Supreme Industries have increased 18.80% to Rs 2310.71 crore in Q3FY23 compared to Q3FY22. Sales of Plastics Piping Products segment has gone up 31.43% to Rs 1,508.68 crore (accounting for 65.29% of total sales). Sales of Industrial Products segment has gone up 23.69% to Rs 335.84 crore (accounting for 14.53% of total sales). Sales of Packing Products segment fell 7.52% to Rs 341.91 crore (accounting for 14.80% of total sales). Sales of Consumer Products segment has gone down 9.09% to Rs 115.87 crore (accounting for 5.01% of total sales). Sales of Others segment has gone down 70.46% to Rs 8.41 crore (accounting for 0.36% of total sales).

Profit before interest, tax and other unallocable items (PBIT) has slumped 7.13% to Rs 244.88 crore. PBIT of Plastics Piping Products segment fell 9.73% to Rs 170.97 crore (accounting for 69.82% of total PBIT). PBIT of Industrial Products segment rose 41.05% to Rs 31.61 crore (accounting for 12.91% of total PBIT). PBIT of Packing Products segment fell 8.25% to Rs 22.57 crore (accounting for 9.22% of total PBIT). PBIT of Consumer Products segment fell 7.83% to Rs 19.77 crore (accounting for 8.07% of total PBIT). PBIT of Others reported loss of Rs 0.04 crore compared to profit of Rs 5.83 crore.

PBIT margin of Plastics Piping Products segment fell from 16.50% to 11.33%. PBIT margin of Industrial Products segment rose from 8.25% to 9.41%. PBIT margin of Packing Products segment fell from 6.65% to 6.60%. PBIT margin of consumer products segment rose from 16.83% to 17.06%. PBIT margin of Others segment fell from 20.48% to 0.48%. Overall PBIT margin fell from 13.56% to 10.60%.

Operating profit margin has declined from 16.34% to 13.13%, leading to 4.57% decline in operating profit to Rs 303.36 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 66.57% to 70.05%. Purchase of finished goods cost fell from 1.96% to 1.18%. Employee cost decreased from 4.45% to 4.15%. Other expenses rose from 10.96% to 11.48%. Power and Oil fuel cost rose from 2.58% to 3.03%.

Other income rose 181.97% to Rs 8.29 crore. PBIDT fell 2.86% to Rs 311.65 crore. Provision for interest rose 150% to Rs 1.15 crore.

PBDT fell 3.08% to Rs 310.5 crore. Provision for depreciation rose 12.68% to Rs 64.76 crore.

Profit before tax down 6.52% to Rs 245.74 crore. Share of profit/loss was 45.55% lower at Rs 27.58 crore. Provision for tax was expense of Rs 63.29 crore, compared to Rs 67.82 crore. Effective tax rate was 23.16% compared to 21.63%.

Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 14.52% to Rs 210.03 crore.

Promoters’ stake was 48.85% as of 31 December 2022 ,compared to 48.85% as of 31 December 2021 .

For year-to-date (YTD) results analysis

Net sales of Supreme Industries have increased 26.60% to Rs 6603.29 crore. Sales of Plastics Piping Products segment has gone up 31.44% to Rs 4,266.73 crore (accounting for 64.62% of total sales). Sales of Industrial Products segment has gone up 34.50% to Rs 972.96 crore (accounting for 14.73% of total sales). Sales of Packing Products segment rose 11.77% to Rs 996.06 crore (accounting for 15.08% of total sales). Sales of Consumer Products segment has gone up 12.70% to Rs 323.55 crore (accounting for 4.90% of total sales). Sales of Others segment has gone down 35.17% to Rs 43.99 crore (accounting for 0.67% of total sales).

Profit before interest, tax and other unallocable items (PBIT) has slumped 21.17% to Rs 546.31 crore. PBIT of Plastics Piping Products segment fell 33.30% to Rs 350.15 crore (accounting for 64.09% of total PBIT). PBIT of Industrial Products segment rose 61.63% to Rs 86.99 crore (accounting for 15.92% of total PBIT). PBIT of Packing Products segment fell 0.85% to Rs 66.65 crore (accounting for 12.20% of total PBIT). PBIT of Consumer Products segment rose 17.01% to Rs 46.30 crore (accounting for 8.48% of total PBIT). PBIT of Others reported loss of Rs 3.78 crore compared to profit of Rs 7.42 crore.

PBIT margin of Plastics Piping Products segment fell from 16.17% to 8.21%. PBIT margin of Industrial Products segment rose from 7.44% to 8.94%. PBIT margin of Packing Products segment fell from 7.54% to 6.69%. PBIT margin of Consumer Products segment rose from 13.78% to 14.31%. PBIT margin of Others segment fell from 10.94% to 8.59%. Overall PBIT margin fell from 13.29% to 8.27%.

Operating profit margin has declined from 16.31% to 10.89%, leading to 15.43% decline in operating profit to Rs 719.40 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 66.85% to 72.29%. Purchase of finished goods cost fell from 1.81% to 1.47%. Employee cost decreased from 4.68% to 4.17%. Other expenses rose from 11.03% to 11.18%. Power and Oil fuel cost rose from 2.79% to 2.91%.

Other income rose 61.76% to Rs 18.36 crore. PBIDT fell 14.42% to Rs 737.76 crore. Provision for interest rose 21.71% to Rs 3.98 crore.

PBDT fell 14.55% to Rs 733.78 crore. Provision for depreciation rose 12.06% to Rs 191.29 crore.

Profit before tax down 21.16% to Rs 542.49 crore. Share of profit/loss was 22.73% lower at Rs 104.14 crore. Provision for tax was expense of Rs 140.73 crore, compared to Rs 178.25 crore. Effective tax rate was 21.76% compared to 21.66%.

Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 21.52% to Rs 505.90 crore.

Promoters’ stake was 48.85% as of 31 December 2022 compared to 48.85% as of 31 December 2021.

The stock trades at Rs 2399.

Supreme Industries: Consolidated Result
Particulars	2212 (03)	2112 (03)	Var. (%)	2212 (09)	2112 (09)	Var. (%)	2203 (12)	2103 (12)	Var. (%)
Sales	2310.71	1945.11	19	6603.29	5215.73	27	7772.82	6355.20	22
OPM (%)	13.1	16.3		10.9	16.3		16.0	20.1
OP	303.36	317.88	-5	719.40	850.68	-15	1242.11	1279.18	-3
Profit from construction business	0.0	0.0		0.0	0.0		0.00	5.00
OP including construction business	303.36	317.88	-5	719.40	850.68	-15	1242.11	1284.18	-3
Other inc.	8.29	2.94	182	18.36	11.35	62	19.95	16.89	18
PBIDT	311.65	320.82	-3	737.76	862.03	-14	1262.06	1301.07	-3
Interest	1.15	0.46	150	3.98	3.27	22	5.15	22.05	-77
PBDT	310.50	320.36	-3	733.78	858.76	-15	1256.91	1279.02	-2
Dep.	64.76	57.47	13	191.29	170.70	12	229.52	212.79	8
PBT before Share of profit of Associates	245.74	262.89	-7	542.49	688.06	-21	1027.39	1066.23	-4
Share of profit of Associates	27.58	50.65	-46	104.14	134.78	-23	204.39	145.99	40
PBT before EO	273.32	313.54	-13	646.63	822.84	-21	1231.78	1212.22	2
EO	0.00	0.00		0.00	0.00		0.00	0.00
PBT after EO	273.32	313.54	-13	646.63	822.84	-21	1231.78	1212.22	2
Total Tax	63.29	67.82	-7	140.73	178.25	-21	263.33	234.08	12
PAT	210.03	245.72	-15	505.90	644.59	-22	968.45	978.14	-1
EPS (Rs) *	#	#		#	#		76.2	77.0
* Annualised on current equity of Rs 25.41 crore. Face Value: Rs 2 each
# EPS not annualised due to seasonality of business
EO: Extra Ordinary items, EPS is calculated after excluding EO and relevant tax
Figures in Rs crore, Var (%) exceeding 999 is restricted to 999
Source: Capitaline Database

upreme Industries : Consolidated Segment Results
	% of (Total)	2212 (03)	2112 (03)	Var.(%)	% of (Total)	2212 (09)	2112 (09)	Var.(%)	% of (Total)	2203 (12)	2103 (12)	Var.(%)
Sales
Plastics Piping Products	65	1,508.68	1,147.93	31	65	4,266.73	3,246.26	31	65	5,045.99	4,098.79	23
Industrial Products	15	335.84	271.52	24	15	972.96	723.39	35	13	1,023.67	761.12	35
Packing Products	15	341.91	369.73	-8	15	996.06	891.14	12	16	1,210.11	1,035.06	17
Consumer Products	5	115.87	127.46	-9	5	323.55	287.09	13	5	405.09	354.21	14
Others	0	8.41	28.47	-70	1	43.99	67.85	-35	1	87.96	106.02	-17
Total Reported Sales	100	2,310.71	1,945.11	19	100	6,603.29	5,215.73	27	100	7,772.82	6,355.20	22
PBIT
Plastics Piping Products	70	170.97	189.39	-10	64	350.15	524.97	-33	76	783.88	821.29	-5
Industrial Products	13	31.61	22.41	41	16	86.99	53.82	62	8	85.26	63.46	34
Packing Products	9	22.57	24.6	-8	12	66.65	67.22	-1	10	100.91	124.59	-19
Consumer Products	8	19.77	21.45	-8	8	46.3	39.57	17	5	54.07	59.66	-9
Others	0	-0.04	5.83	PL	-1	-3.78	7.42	PL	1	8.45	24.23	-65
Total PBIT	100	244.88	263.68	-7	100	546.31	693	-21	100	1,032.57	1,093.23	-6
Less : Interest		1.15	0.46	150		3.98	3.27	22		5.15	22.05	-77
Add: Other un-allcoable		29.59	50.32	-41		104.3	133.11	-22		204.36	141.04	45
PBT		273.32	313.54	-13		646.63	822.84	-21		1,231.78	1,212.22	2

Previous News

Supreme Industries consolidated net profit rises 10.98% in the March 2023 quarter
( Results - Announcements 28-Apr-23 14:13 )

Supreme Industries
( Results - Analysis 20-Jan-24 06:05 )

Supreme Inds records PAT of Rs 355 crore in Q4; OPM at 17.56%
( Hot Pursuit - 26-Apr-24 13:59 )

Supreme Industries consolidated net profit declines 64.14% in the September 2022 quarter
( Results - Announcements 31-Oct-22 16:21 )

Supreme Industries consolidated net profit rises 25.35% in the September 2020 quarter
( Results - Announcements 28-Oct-20 15:11 )

Supreme Industries standalone net profit declines 53.93% in the September 2022 quarter
( Results - Announcements 31-Oct-22 16:20 )

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( Hot Pursuit - 21-Dec-23 15:00 )

Supreme Industries gets LoA worth Rs 55 cr from IOCL
( Hot Pursuit - 27-Jun-24 15:29 )

Supreme Industries
( Results - Analysis 23-May-20 12:44 )

Supreme Industries fixes record date for final dividend
( Market Beat - Reports 28-Apr-23 14:15 )

Supreme Industries to conduct board meeting
( Corporate News - 21-Apr-21 15:30 )