Please Note: The company adopted the new Indian Accounting Standard from April'16 onwards. Further, the company also changed its financial year from April to March every year from FY'17 onwards and thus FY'16 was a financial year ended 9 months period ended Mar'16. Further, June quarter is a seasonal quarter in nature and maximum sales was usually pushed by the distributors in this quarter being an year end quarter every year. Due to these reasons, management has refrained from giving the comparative figures for the quarter ended June'15 and hence YoY comparison is not shown in the result analysis.

Mr. M P Taparia MD of Supreme Industries said: "The Polymer prices remain at affordable level. The effect of better monsoon this year throughout the country along with pay commission increased recommendation going through will bring better growth in business. The volume growth of polymer consumption in April-June quarter was around 11%.

The spending on infrastructure by various state governments to augment drinking water supply and installing sewerage and drainage system augers well for the company's business. During the current year, company envisages volume growth between 12% and 15% over the corresponding period of previous year.

Other developments

The company expects to incur a capex of about Rs 250 crore for 12 months period ended Mar'17. This includes 20000 tons annual capacity of PVC pipes at Jalgaon and new extrusion lines for PVC pipes and PE pipes at Kharagpur, land for performance packaging films, energy efficient machines in plastic piping and furniture division, new range of product offerings in plastic piping systems, furniture products, material handling products, roto moulded products and bathroom fittings, to invest in balancing equipments and automation at all plants and to increase the capacities of protective packaging products at Malanpur and Hosur and to add varieties of other products.

FY'17 seems to be the transforming year for the composite cylinder division and the company may start reaping the benefits of its investments. The company has executed initial educational order from HPCL for 4500 pieces and awaiting its launch in domestic market which shall happen shortly. The company is also getting numerous enquiries from overseas market. It expects that from Oct'16 onwards, existing capacities shall be put to use at a profitable level.