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Results
24-Jan-23
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Analysis
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Supreme Industries
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Sales up 19%, OP down 5%
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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
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Particulars
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2212 (03)
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2112 (03)
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Var. (%)
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2212 (09)
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2112 (09)
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Var. (%)
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2203 (12)
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2103 (12)
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Var. (%)
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Sales
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2310.71
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1945.11
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19
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6603.29
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5215.73
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27
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7772.82
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6355.20
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22
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OPM (%)
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13.1
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16.3
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10.9
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16.3
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16.0
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20.1
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OP
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303.36
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317.88
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-5
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719.40
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850.68
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-15
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1242.11
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1279.18
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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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0.00
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5.00
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OP including construction
business
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303.36
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317.88
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-5
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719.40
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850.68
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-15
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1242.11
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1284.18
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-3
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Other inc.
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8.29
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2.94
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182
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18.36
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11.35
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62
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19.95
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16.89
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18
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PBIDT
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311.65
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320.82
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-3
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737.76
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862.03
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-14
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1262.06
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1301.07
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-3
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Interest
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1.15
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0.46
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150
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3.98
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3.27
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22
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5.15
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22.05
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-77
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PBDT
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310.50
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320.36
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-3
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733.78
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858.76
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-15
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1256.91
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1279.02
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-2
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Dep.
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64.76
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57.47
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13
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191.29
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170.70
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12
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229.52
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212.79
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8
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PBT before Share of
profit of Associates
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245.74
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262.89
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-7
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542.49
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688.06
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-21
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1027.39
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1066.23
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-4
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Share of profit of
Associates
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27.58
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50.65
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-46
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104.14
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134.78
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-23
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204.39
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145.99
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40
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PBT before EO
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273.32
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313.54
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-13
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646.63
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822.84
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-21
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1231.78
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1212.22
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2
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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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273.32
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313.54
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-13
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646.63
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822.84
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-21
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1231.78
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1212.22
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2
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Total Tax
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63.29
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67.82
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-7
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140.73
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178.25
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-21
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263.33
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234.08
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12
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PAT
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210.03
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245.72
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-15
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505.90
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644.59
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-22
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968.45
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978.14
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-1
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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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76.2
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77.0
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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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upreme Industries : Consolidated
Segment Results
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% of (Total)
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2212 (03)
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2112 (03)
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Var.(%)
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% of (Total)
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2212 (09)
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2112 (09)
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Var.(%)
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% of (Total)
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2203 (12)
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2103 (12)
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Var.(%)
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Sales
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Plastics Piping Products
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65
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1,508.68
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1,147.93
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31
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65
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4,266.73
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3,246.26
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31
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65
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5,045.99
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4,098.79
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23
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Industrial Products
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15
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335.84
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271.52
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24
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15
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972.96
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723.39
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35
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13
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1,023.67
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761.12
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35
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Packing Products
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15
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341.91
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369.73
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-8
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15
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996.06
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891.14
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12
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16
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1,210.11
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1,035.06
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17
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Consumer Products
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5
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115.87
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127.46
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-9
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5
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323.55
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287.09
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13
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5
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405.09
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354.21
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14
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Others
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0
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8.41
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28.47
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-70
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1
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43.99
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67.85
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-35
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1
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87.96
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106.02
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-17
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Total Reported Sales
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100
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2,310.71
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1,945.11
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19
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100
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6,603.29
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5,215.73
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27
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100
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7,772.82
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6,355.20
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22
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PBIT
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Plastics Piping Products
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70
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170.97
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189.39
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-10
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64
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350.15
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524.97
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-33
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76
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783.88
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821.29
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-5
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Industrial Products
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13
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31.61
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22.41
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41
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16
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86.99
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53.82
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62
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8
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85.26
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63.46
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34
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Packing Products
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9
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22.57
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24.6
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-8
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12
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66.65
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67.22
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-1
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10
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100.91
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124.59
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-19
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Consumer Products
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8
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19.77
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21.45
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-8
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8
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46.3
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39.57
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17
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5
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54.07
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59.66
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-9
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Others
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0
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-0.04
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5.83
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PL
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-1
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-3.78
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7.42
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PL
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1
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8.45
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24.23
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-65
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Total PBIT
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100
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244.88
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263.68
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-7
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100
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546.31
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693
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-21
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100
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1,032.57
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1,093.23
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-6
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Less : Interest
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1.15
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0.46
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150
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3.98
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3.27
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22
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5.15
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22.05
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-77
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Add: Other un-allcoable
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29.59
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50.32
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-41
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104.3
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133.11
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-22
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204.36
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141.04
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45
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PBT
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273.32
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313.54
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-13
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646.63
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822.84
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-21
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1,231.78
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1,212.22
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2
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Previous News |
Supreme Industries standalone net profit declines 53.93% in the September 2022 quarter
(
Results
-
Announcements
31-Oct-22
16:20
)
|
|
Supreme Industries
(
Results
-
Analysis
31-Oct-22
23:59
)
|
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Supreme Industries consolidated net profit rises 21.97% in the December 2023 quarter
(
Results
-
Announcements
19-Jan-24
13:37
)
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Supreme Industries to conduct board meeting
(
Corporate News
-
18-Jul-23
10:46
)
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Supreme Industries fixes record date for interim dividend
(
Market Beat
-
Reports
22-Oct-21
15:15
)
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Supreme Industries consolidated net profit rises 30.73% in the September 2021 quarter
(
Results
-
Announcements
22-Oct-21
15:20
)
|
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Supreme Industries to conduct AGM
(
Corporate News
-
30-Apr-22
16:09
)
|
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Board of Supreme Industries recommends Interim Dividend
(
Corporate News
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29-Oct-20
09:46
)
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|
Supreme Industries
(
Analyst Meet / AGM
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Conference Call
28-Oct-20
22:31
)
|
|
Supreme Industries
(
Results
-
Analysis
27-Jan-17
12:31
)
|
|
Supreme Ind soars after robust Q4 performance
(
Hot Pursuit
-
03-May-21
15:08
)
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