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Supreme Industries Ltd Q3FY21 Q3FY21 consolidated PAT zooms to Rs. 312.28 crore

Posted On: 2021-01-23 01:02:35 (Time Zone: Arizona, USA)


SUPREME INDUSTRIES LTD. has reported financial results for the period ended December 31, 2020.

Financial Results (Q3 FY20-21) - QoQ Comparison

The company has reported total income of Rs.1844.05 crores during the period ended December 31, 2020 as compared to Rs.1374.86 crores during the period ended September 30, 2020.

The company has posted net profit / (loss) of Rs.312.28 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.174.95 crores for the period ended September 30, 2020.

The company has reported EPS of Rs.24.58 for the period ended December 31, 2020 as compared to Rs.13.77 for the period ended September 30, 2020.

FinancialsQ3 FY20-21Q2 FY20-21% Change
Total Income₹ 1844.05 crs₹ 1374.86 crsUp Tick 34.13%
Net Profit₹ 312.28 crs₹ 174.95 crsUp Tick 78.5%
EPS₹ 24.58₹ 13.77Up Tick 78.5%

Financial Results (Q3 FY20-21) - YoY Comparison

The company has reported total income of Rs.1844.05 crores during the period ended December 31, 2020 as compared to Rs.1374.12 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.312.28 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.123.39 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.24.58 for the period ended December 31, 2020 as compared to Rs.9.71 for the period ended December 31, 2019.

FinancialsQ3 FY20-21Q3 FY19-20% Change
Total Income₹ 1844.05 crs₹ 1374.12 crsUp Tick 34.2%
Net Profit₹ 312.28 crs₹ 123.39 crsUp Tick 153.08%
EPS₹ 24.58₹ 9.71Up Tick 153.14%

Financial Results (9 Months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.4273.08 crores during the 9 months period ended December 31, 2020 as compared to Rs.4082.42 crores during the 9 months period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.527.76 crores for the 9 months period ended December 31, 2020 as against net profit / (loss) of Rs.350.12 crores for the 9 months period ended December 31, 2019.

The company has reported EPS of Rs.41.55 for the 9 months period ended December 31, 2020 as compared to Rs.27.56 for the 9 months period ended December 31, 2019.

Financials9 Months ended FY20-219 Months ended FY19-20% Change
Total Income₹ 4273.08 crs₹ 4082.42 crsUp Tick 4.67%
Net Profit₹ 527.76 crs₹ 350.12 crsUp Tick 50.74%
EPS₹ 41.55₹27.56Up Tick 50.76%

The Company sold 111584 MT of Plastic goods and achieved net product turnover of Rs. 1766 Crores during the 3rd quarter of the current year against sales of 101393 MT of Plastic goods and achieved net product turnover of Rs. 1356 Crores in the corresponding quarter of previous year achieving volume and product value growth of about 10% and 30%, respectively.

The Company sold 297871 MT of Plastic goods and achieved net product turnover of Rs. 4128 Crores during the Nine months of the current year against sales of 308321 MT and net product turnover of Rs. 4028 crores in the corresponding Nine months of previous year resulting volume degrowth of about 3 % and product value growth 2%, respectively.

The overall turnover of value added products increase to Rs. 758 crores during the current quarter as compared to Rs. 568 crores in the corresponding period of previous year achieving growth of 33%.

The Company has Cash Surplus funds of Rs. 432 crores as on 31st December, 2020 as against net Borrowings of Rs. 217 crores as on 31st March, 2020.

Business Outlook

Mr. M. P. Taparia, Managing Director, The Supreme Industries Limited, said: Business situation has become normal in all the segments where Company is operating. Company achieved a volume and value growth of 10% and 30% respectively in the 3rd quarter.

The Company's value added business has grown to Rs. 758 crores as compared to Rs. 568 Crores in comparable quarter of the previous year. The increase in volume sale supported by increase in the business of value added products have improved operating margin to 21.53% compared to 16.11% of the previous year in the same quarter. The OPM has also improved significantly due to inventory gain on account of rapid price increase of PVC resin to the extent of around Rs. 80 crores in the quarter.

The Crop situation in the Country is normal, which has boosted the rural income. The Rabi crop sowing has also been done in a larger area than the previous year. Company enjoyed good demand for its products from rural market and Tier III and Tier IV cities.

In the current quarter, the demand also got a fillip from the Housing market. Several Policy initiatives have facilitated brisk sale of ready to occupy housing units. Demand for Company's housing products has revived in Metro cities.

The demand for Furniture and Material handling products were higher compared to previous year. With a better offtake of consumer durables, the Company enjoyed good demand for its' industrial components business.

The Company's Packaging segment working was affected due to increase in its raw material prices which could be passed over with a time lag, which may happen in the current quarter.

Company has also introduced economy model of Tarpaulin also in Cross Laminated film segment having lower value addition. However, the overall demand for Cross Laminated film products for the year is expected at a higher level which may boost business to 21,000 MT in the year compared to 17,000 MT in the previous year.

Protective packaging division in this segment has also fared better as demand has come from Construction, Consumer appliances, yoga mats and other segments.

Plastic raw material prices remain at an elevated level. PVC resin prices have gone up by Rs. 23/- per kg in the quarter with an increase of 25% in its prices. The PVC prices remain even now at the elevated level. At the increased prices, there is a demand resistance from agricultural segment. It is expected that the resin prices may start softening by March.

The Company's CAPEX plan is going smoothly. Along with carried forward investment commitment of Rs. 182 crores, the Company has made a plan to invest around Rs. 400 crores in this year. The said investment is made mostly in its existing plants where additional construction activities are going on at Seven sites. Company is also now putting up new plants at three locations. Land for these plants have been already acquired at Orissa & Tamil Nadu. In Assam, the plant is being constructed on a lease agreement basis. Company aims to put all these new plants in production in the year 2021-22.

Shares of SUPREME INDUSTRIES LTD. was last trading in BSE at Rs.1721.15 as compared to the previous close of Rs. 1761.3. The total number of shares traded during the day was 4983 in over 845 trades.

The stock hit an intraday high of Rs. 1785 and intraday low of 1710.95. The net turnover during the day was Rs. 8730134.


Source: Equity Bulls

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