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Results
20-Jan-24
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Analysis
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Supreme Industries
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OPM up 240 bps to 15.5%
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Consolidated
net sales (including other operating income) of Supreme Industries has
increased 5.99% to Rs 2449.1 crore in Q3FY24 compared to Q3FY23. Sales of Plastics Piping Products segment has
gone up 8.95% to Rs 1,643.65 crore (accounting for 67.11% of total sales). Sales of Industrial Products segment has gone
down 1.16% to Rs 331.95 crore (accounting for 13.55% of total sales). Sales of Packing Products segment rose 3.52% to
Rs 353.95 crore (accounting for 14.45% of total sales). Sales of Consumer Products segment has gone
down 3.06% to Rs 112.33 crore (accounting for 4.59% of total sales). Sales of Others segment has gone down 14.15%
to Rs 7.22 crore (accounting for 0.29% of total sales).
Profit
before interest, tax and other unallocable items (PBIT) has jumped 25.88% to Rs
308.26 crore. PBIT of Plastics Piping
Products segment rose 24.51% to Rs 212.88 crore (accounting for 69.06% of total
PBIT). PBIT of Industrial Products
segment fell 6.14% to Rs 29.67 crore (accounting for 9.62% of total PBIT). PBIT of Packing Products segment rose 106.20%
to Rs 46.54 crore (accounting for 15.10% of total PBIT). PBIT of Consumer Products segment fell 1.06%
to Rs 19.56 crore (accounting for 6.35% of total PBIT). PBIT of Others segment fell 875.00% to Rs
-0.39 crore (accounting for -0.13% of total PBIT).
PBIT
margin of Plastics Piping Products segment rose from 11.33% to 12.95%. PBIT margin of Industrial Products segment
fell from 9.41% to 8.94%. PBIT margin of
Packing Products segment rose from 6.60% to 13.15%. PBIT margin of Consumer Products segment rose
from 17.06% to 17.41%. PBIT margin of
Others segment fell from negative 0.48% to negative 5.40%. Overall PBIT margin rose from 10.60% to 12.59%.
Operating
profit margin has jumped from 13.13% to 15.47%, leading to 24.88% rise in
operating profit to Rs 378.84 crore. Raw
material cost as a % of total sales (net of stock adjustments) decreased from
70.05% to 67.23%. Purchase of finished
goods cost fell from 1.18% to 0.88%.
Employee cost increased from 4.15% to 4.33%. Other expenses rose from 11.48% to
12.62%. Power and Oil fuel cost rose
from 3.03% to 3.36%.
Other
income rose 149.82% to Rs 20.71 crore.
PBIDT rose 28.20% to Rs 399.55 crore.
Provision for interest rose 348.70% to Rs 5.16 crore.
PBDT
rose 27.02% to Rs 394.39 crore.
Provision for depreciation rose 19.27% to Rs 77.24 crore.
Profit
before tax grew 29.06% to Rs 317.15 crore.
Share of profit/loss was 24.51% lower at Rs 20.82 crore. Provision for tax was expense of Rs 81.8
crore, compared to Rs 63.29 crore.
Effective tax rate was 24.20% compared to 23.16%.
Minority
interest was nil in both the periods.
Net profit attributable to owners of the company increased 21.97% to Rs
256.17 crore.
Promoters’
stake was 48.85% as of 31 December 2023 ,compared to 48.85% as of 31 December
2022 .
For year-to-date (YTD)
results analysis
Net
sales (including other operating income) of Supreme Industries has increased
7.92% to Rs 7126.37 crore. Sales of
Plastics Piping Products segment has gone up 12.01% to Rs 4,779.04 crore
(accounting for 67.06% of total sales).
Sales of Industrial Products segment has gone down 1.72% to Rs 956.26
crore (accounting for 13.42% of total sales).
Sales of Packing Products segment rose 3.33% to Rs 1,029.26 crore
(accounting for 14.44% of total sales).
Sales of Consumer Products segment has gone down 0.27% to Rs 322.69
crore (accounting for 4.53% of total sales).
Sales of Others segment has gone down 11.07% to Rs 39.12 crore
(accounting for 0.55% of total sales).
Profit
before interest, tax and other unallocable items (PBIT) has jumped 56.59% to Rs
855.44 crore. PBIT of Plastics Piping
Products segment rose 73.51% to Rs 607.56 crore (accounting for 71.02% of total
PBIT). PBIT of Industrial Products
segment fell 15.17% to Rs 73.79 crore (accounting for 8.63% of total
PBIT). PBIT of Packing Products segment
rose 79.86% to Rs 119.88 crore (accounting for 14.01% of total PBIT). PBIT of Consumer Products segment rose 18.38%
to Rs 54.81 crore (accounting for 6.41% of total PBIT). PBIT of Others segment rose 84.13% to Rs
-0.60 crore (accounting for -0.07% of total PBIT).
PBIT
margin of Plastics Piping Products segment rose from 8.21% to 12.71%. PBIT margin of Industrial Products segment
fell from 8.94% to 7.72%. PBIT margin of
Packing Products segment rose from 6.69% to 11.65%. PBIT margin of Consumer Products segment rose
from 14.31% to 16.99%. PBIT margin of
Others segment rose from negative 8.59% to negative 1.53%. Overall PBIT margin rose from 8.27% to
12.00%.
Operating
profit margin has jumped from 10.89% to 14.83%, leading to 46.88% rise in
operating profit to Rs 1,056.66 crore.
Raw material cost as a % of total sales (net of stock adjustments)
decreased from 72.29% to 67.74%.
Purchase of finished goods cost fell from 1.47% to 1.15%. Employee cost increased from 4.17% to 4.32%. Other expenses rose from 11.18% to
12.46%. Power and Oil fuel cost rose
from 2.91% to 3.29%.
Other
income rose 159.26% to Rs 47.6 crore.
PBIDT rose 49.68% to Rs 1104.26 crore.
Provision for interest rose 111.06% to Rs 8.4 crore.
PBDT
rose 49.34% to Rs 1095.86 crore.
Provision for depreciation rose 15.64% to Rs 221.21 crore.
Profit
before tax grew 61.23% to Rs 874.65 crore.
Share of profit/loss was 36.46% lower at Rs 66.17 crore. Provision for tax was expense of Rs 225.92
crore, compared to Rs 140.73 crore.
Effective tax rate was 24.01% compared to 21.76%.
Minority
interest was nil in both the periods.
Net profit attributable to owners of the company increased 41.31% to Rs
714.90 crore.
Promoters’
stake was 48.85% as of 31 December 2023 ,compared to 48.85% as of 31 December
2022.
The
stock trades at Rs 4112.
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Supreme
Industries: Consolidated Result
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Particulars
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2312 (03)
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2212 (03)
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Var. (%)
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2312 (09)
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2212 (09)
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Var. (%)
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2303 (12)
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2203 (12)
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Var. (%)
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Sales
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2449.10
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2310.71
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6
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7126.37
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6603.29
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8
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9201.59
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7772.82
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18
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OPM (%)
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15.5
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13.1
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14.8
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10.9
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13.0
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16.0
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OP
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378.84
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303.36
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25
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1056.66
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719.40
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47
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1199.68
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1242.11
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-3
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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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0.0
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0.0
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OP including construction
business
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378.84
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303.36
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25
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1056.66
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719.40
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47
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1199.68
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1242.11
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-3
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Other inc.
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20.71
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8.29
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150
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47.60
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18.36
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159
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29.77
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19.95
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49
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PBIDT
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399.55
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311.65
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28
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1104.26
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737.76
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50
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1229.45
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1262.06
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-3
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Interest
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5.16
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1.15
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349
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8.40
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3.98
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111
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8.02
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5.15
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56
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PBDT
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394.39
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310.50
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27
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1095.86
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733.78
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49
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1221.43
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1256.91
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-3
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Dep.
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77.24
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64.76
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19
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221.21
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191.29
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16
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263.39
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229.52
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15
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PBT before Share of
profit of Associates
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317.15
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245.74
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29
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874.65
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542.49
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61
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958.04
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1027.39
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-7
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Share of profit of
Associates
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20.82
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27.58
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-25
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66.17
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104.14
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-36
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153.25
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204.39
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-25
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PBT before EO
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337.97
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273.32
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24
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940.82
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646.63
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45
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1111.29
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1231.78
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-10
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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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337.97
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273.32
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24
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940.82
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646.63
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45
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1111.29
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1231.78
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-10
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Total Tax
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81.80
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63.29
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29
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225.92
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140.73
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61
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245.96
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263.33
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-7
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PAT
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256.17
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210.03
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22
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714.90
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505.90
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41
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865.33
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968.45
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-11
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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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68.1
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76.2
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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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2312 (03)
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2212 (03)
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Var.(%)
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% of (Total)
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2312 (09)
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2212 (09)
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Var.(%)
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% of (Total)
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2303 (12)
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2203 (12)
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Var.(%)
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Sales
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Plastics Piping Products
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67
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1,643.65
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1,508.68
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9
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67
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4,779.04
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4,266.73
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12
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66
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6,037.53
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5,045.99
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20
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Industrial Products
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14
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331.95
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335.84
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-1
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13
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956.26
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972.96
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-2
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15
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1,341.63
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1,023.67
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31
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Packing Products
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14
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353.95
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341.91
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4
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14
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1,029.26
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996.06
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3
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14
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1,319.13
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1,210.11
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9
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Consumer Products
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5
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112.33
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115.87
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-3
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5
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322.69
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323.55
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0
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5
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444.6
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405.09
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10
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Others
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0
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7.22
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8.41
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-14
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1
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39.12
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43.99
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-11
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1
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58.7
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87.96
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-33
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Total Reported Sales
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100
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2,449.10
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2,310.71
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6
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100
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7,126.37
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6,603.29
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8
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100
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9,201.59
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7,772.82
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18
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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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0
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0
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-
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Net Sales
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2,449.10
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2,310.71
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6
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7,126.37
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6,603.29
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8
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9,201.59
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7,772.82
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18
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PBIT
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Plastics Piping Products
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69
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212.88
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170.97
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25
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71
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607.56
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350.15
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74
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71
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679.27
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783.88
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-13
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Industrial Products
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10
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29.67
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31.61
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-6
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9
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73.79
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86.99
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-15
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13
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123.92
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85.26
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45
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Packing Products
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15
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46.54
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22.57
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106
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14
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119.88
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66.65
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80
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10
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91.53
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100.91
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-9
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Consumer Products
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6
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19.56
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19.77
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-1
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6
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54.81
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46.3
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18
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7
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67.82
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54.07
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25
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Others
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0
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-0.39
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-0.04
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-875
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0
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-0.6
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-3.78
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84
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0
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-2.69
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8.45
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PL
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Total PBIT
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100
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308.26
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244.88
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26
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100
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855.44
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546.31
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57
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100
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959.85
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1,032.57
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-7
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Less : Interest
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5.16
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1.15
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349
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8.4
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3.98
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111
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8.02
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5.15
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56
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Add: Other un-allcoable
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34.87
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29.59
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18
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93.78
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104.3
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-10
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159.46
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204.36
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-22
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PBT
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337.97
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273.32
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24
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940.82
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646.63
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46
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1,111.29
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1,231.78
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-10
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Previous News |
Supreme Industries
(
Results
-
Analysis
24-Jan-23
23:03
)
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Supreme Industries
(
Analyst Meet / AGM
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Conference Call
24-Jan-23
22:57
)
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Supreme Industries fixes record date for interim dividend
(
Market Beat
-
Reports
28-Oct-20
14:20
)
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Supreme Industries consolidated net profit rises 25.35% in the September 2020 quarter
(
Results
-
Announcements
28-Oct-20
15:11
)
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Lloyds Engineering Works Ltd leads gainers in 'A' group
(
Hot Pursuit
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29-Apr-24
12:00
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Volumes jump at Supreme Industries Ltd counter
(
Hot Pursuit
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29-Apr-24
14:30
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Supreme Industries
(
Results
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Analysis
29-Oct-18
18:24
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Supreme Industries bags Rs 170 crore order from Indian Oil
(
Hot Pursuit
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03-Mar-22
12:43
)
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Board of Supreme Industries recommends Interim Dividend
(
Corporate News
-
01-Nov-22
10:01
)
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Supreme Industries consolidated net profit declines 53.48% in the June 2020 quarter
(
Results
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Announcements
25-Jul-20
13:54
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Supreme Industries
(
Results
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Analysis
25-Jul-20
16:31
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