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Supreme Industries Ltd

BSE: 509930 | NSE: SUPREMEIND ISIN: INE195A01028
Market Cap: [Rs.Cr.] 8,135.65 Face Value: [Rs.] 2
Industry: Plastics Products

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Management Discussions


The World economy was in a slow growth mode during the year under review except in USA.Indian economy shown sign of revival in the past year. GDP growth rates started growing.

Housing segment continues to remain in low growth phase. Government has taken variousnew initiatives which have resulted in re-starting of several locked infrastructureprojects.

Central Government has given big thrust to Swachh Bharat Abhiyan to boostinfrastructure, increasing road connectivity affordable houses for all and creation of 100smart cities in a big way.

Government has also proposed several initiatives for ease of doing business. Governmentis pursuing introduction of GST and land and labour reforms. These measures initiated bythe Government will put our country on higher annual growth path in the years to come. Itis likely to create millions of fresh jobs every year. All these initiatives will lead thecountry to the path of 8% to 10% GDP growth per year. It augurs well for the futurebusiness of our Company.

Globally Brent Crude prices are hovering around $60 per Barrel. It is expected thatprices will remain in a narrow band around this level for quite some time.

India is a large energy importer. Crude prices remaining soft will give boost tocountry's economy. It helps to contain fiscal deficit & current account deficit.

This also keeps inflation in control which may result in lowering of interest rates.

Lowering of interest rates will boost several segment of country's economy resulting inlarger scope of growth to your Companies' products.


Polymer consumption in the country has witnessed a growth of 8% between July 2014 toJune 2015. In our country the per capita consumption of plastics is 10 kgs. Compared to 50kg in China. This shows that there is a huge potential to grow business not only forcatering to domestic demand but also for catering to global demand of plastics products.

Last year, the Company witnessed tremendous volatility in the Polymer Prices betweenJuly 14 to June 15.

PP Homopolymer prices came down from R 109.20 per kg in July 2014 to R 76.27 per kg byFebruary 2015. It went up again to R 100.77 per kg in the middle of May 2015 to come downto R 92.77 per kg in June 2015 with a bearish trend.

Prices of PE have gone down from R 113.92 per kg in July 2014 to R 82.95 per kg by 1stFeb 2015 and went up to R 103.72, by 7th May 2015. Prices have again has gone down to R98.72 the middle of June 2015 with a bearish trend.

Prices of PVC resin has gone down from R 79.50 per kg during July 2014 to R 58 per kgby middle of December 2014. Prices went up to R 69.50 per kg by 1st June 2015 and againcame down to R 65.50 per kg during the month of June 2015 itself.

Thus, there was tremendous volatility in the Polymer prices during the preceding year.Such price fluctuations have affected the growth in the consumption of Plastics incountry's economy. It also has put pressure on operating profit margin.

Company believes that in the year 2015-16, the prices of polymers will move in a narrowrange. Company also hopes that such fluctuations may not be repeated.


The product groups of the Company are as follows:

Group Products
Plastics Piping System uPVC Pipes, Injection Moulded PVC fittings and handmade fittings, Polypropylene Random Co-polymer pipes and fittings, HDPE Pipe Systems, CPVC Pipes Systems, Inspection Chambers and manholes. Bath fittings, Roto moulded Tanks and Fittings and Solvents
Consumer products Furniture
Industrial Products Industrial products, Material handling System and Pallets - Roto moulded crates, garbage bins
Packaging Products Flexible packaging film products, Protective Packaging Products, Cross Laminated Film products
Composite Products LPG Gas Cylinders, Composite Pipes and Composite Pallets.

The net turnover (including other income) of the Company under review was R 4261.45.Crores (including R 161.23 Crores by way of trading in other related products and R139.32 crores from sale of premises) as against R 3972.34 crores (including R 171.89crores by way of trading in other related products and R 60.20 crores from sales ofpremises) of the previous year.

The Company has sold 3,01,930 tons of Plastic products as against 2,75,463 tons in theprevious year, reflecting a growth of 9.61% in product turnover by volume.

The Company exported goods worth US $ 13.30 million as against US $ 13.58 million inthe corresponding previous year.

Profit before interest, depreciation and exceptional items and taxes during the yearunder review have gone up by R 73.62 crores from R 599.03 crores to R 672.65 crores duringthe year.


4.1 Manufacturing Sites

The Company is in the process of setting up two units. viz one at Kharagpur in WestBengal and the other one at Malanpur near Gwalior in Madhya Pradesh. The Company hopesthat both units will be in production by September 2015. The Company will then have, 25manufacturing units spread throughout the country. This enables the Company to reach it'sproducts to the market at shortest possible time with least freight cost.

Kharagpur Unit will produce PVC, PE Pipes, Protective Packaging Products and newcategory of Plastics Furniture and varieties of Roto Moulded products. Due to severallocal issues, startup of plant at this site has been delayed.

Malanpur Unit is going to produce varieties of Roto moulded products.

4.2 Distribution network

Your Company is committed to increase its reach by adding more channel partners inseveral parts of the country. The Company has increased its channel partners from 2257Nos. as on 30th June 2014 to 2469 Nos. as on 30th June 2015.

Distributors are the strength of the Company. Your Company enjoys good rapport andloyalty from its distributor network. The distributors are working assiduously todistribute Company's products in their respective regions in a very efficient way.

4.3 Growth Drivers

Your Company has increased the share of its Branded products turnover during the year2014-15 to 80.70% of total turnover compared to 79.60% in the year 2013-14.

The Company has taken effective measures to increase the product awareness throughadvertising by way of TV/ Radio, Print media, outdoor i.e. bus panel hoarding, wallpainting etc.

Several counterfeit products (specially in XF products and Pipe System) similar to theCompany's product are now available in the market. Company has taken several measures toaddress this menace.


5.1 Plastics Piping Systems

The financial year of the Company started with continuous fall of Crude prices andthereby the resins and Polymer prices came down substantially. The situation remainedsubdued during first six months of the year where Polymer prices were continuouslyfalling. The prices started recovering during January- March quarter, when businessstarted properly.

The Company's overall sale volume in this segment has crossed Two lakhs ton mark firsttime in this year. The Company sold 204,264 tons of Plastic Pipe System in the year2014-15 compared to 187,951 tons of sales in the year 2013-14.

The erratic and lower monsoon throughout large parts of the country brought down theincome of the farmers and as a result the irrigation sector was affected.

Unusual rains between February - May'15 damaged standing ready to harvest crop to agreat extent and therefore the peak season demand of April - June was badly affected forbusiness. This resulted into low capacity utilization at all the plants in the quarterApril-June'15 and erosion of operating margins in Agri Pipe business segment.

The Reality sector was overall in a low growth phase and fillip on Infrastructureprojects was also at a lower pace. The new Government at the Centre has put the priorityfocus on Swatch Bharat Abhiyan, Sanitation and affordable houses to all and 100 smartcities development on all India basis. This resulted into Government program in buildingtoilets at various schools & separately for Girl Child. This saw many corporatesspending their CSR amount for this purpose. However, the requirement of Pipe and Fittingsin a Toilet vary from place to place and project to project. The projects under JNNURMscheme are also running at slow pace, which may improve now with the thrust given by theGovernment.

New plant at Kharagpur is ready to commence production during July/Sep-2015. The plantand machinery have reached at the site. The Company expects that the Company may be ableto utilize full capacity of this plant in first half of 2016.

At Malanpur, near Gwalior a separate Roto Moulding Plant and new warehouse will be inoperation by September'15. It will also have cPVC production capacity stabilized by end offirst quarter of the current financial year. The machines are already received in theplant.

Another Roto Moulding facility is being planned at Kharagpur and should be in operationby Februrary'16. The Company also expects to put up Roto Moulding facility at Kanpur plantwhich would be in operation by March'16. The Company has already launched Overhead WaterTanks of 500 liters to 5000 liters in various capacities. These are well received. Withlot of encouragement from market the Company has embarked on larger capacity expansion.The Company also aims to introduce many other varieties of Tanks suitable for undergroundwater storage and also varieties of Septic Tanks. The Company has tied-up the technologyfor Septic Tanks with a South African Company. This should be a game changer in sanitationmarket.

The Company is at an advance stage of negotiation for Technology and plant for theproduction of Double Wall Corrugated HDPE Pipes. The Company aims to commence productionin first quarter of 2016. The Company has also acquired a large capacity plant formanufacture of ECO DRAIN pipes up to 800 mm diameter. That may go in production byDecember'15. The Company has successfully produced Multilayer foam pipe up-to 160mm dia.The Company is also negotiating with many infra projects for installation of 1 meter / 1.2meter diameter Manholes instead of conventional brick and mortar Manholes, whereby the enduser will be able to realize the overall benefits like easy and faster installation, lesstrench width with higher useful life than the usage of conventional brick and mortarsewerage system. The Company is now geared up to offer large varieties of products tocater the sewerage and drainage segment of the housing requirement.

The Company introduced Silent Pipe System made from PVC for the first time in thecountry. This system is very much required in High rise buildings, Hospitals and Highquality hotels. Company's system was well received in the market.

In Plumbing System, the Company introduced full range of Sch 40 Aqua Gold PVC PlumbingSystem which can offer a lower cost plumbing solution compared to presently availablesystem.

The Company during the year under review registered an overall volume growth of 7.5% inPlastics Piping System made from different plastic materials. The Company registered avolume growth of 15% in cPVC system sale and a volume growth in sale of HDPE Pipe Systemby 22.5% within this overall growth of Plastics Pipe System business.

The Company developed a special variety of PE Pipe with co-extrusion of Copper wire forlift irrigation project. The customers were quite pleased with the quality of product. TheCompany is getting repeat order in this segment.

The Company's manufactured solvent cement - SILBOND- were approved by NSF-14 in boththe varieties i.e., PVC and cPVC. The PVC variety was also certified by BIS and hence theproducts are going in the market with necessary ISI and NSF marking. The Company wasencouraged with the response it received from its SILBOND range of Solvents. The Companyhas further introduced BLUE SEALANT suitable for metal threaded joints. As a resultCompany now got all the products available in the segment of adhesives, solvents &lubricants required for various Piping Systems. The business looks promising.

The Company introduced 72 nos. of Injection Moulded Pipe fittings during 2014-15. Theyall have been well received in the market. As a result the sale of moulded fittingsincreased by 11% in volume terms during the year under review.

The total product portfolio in this segment has now reached to 6500 Nos. which was 6113Nos. at the beginning of the year & thus adding 387 new products to the range ofvarious Plastic Piping System.

Encouraged by the growth of cPVC products business, the Company introduced Schedule 40products in the 2^ " to 4" category which can cater to Industrial Segments in acost effective manner compared to use of pipes made from conventional materials.

The AQUAKRAFT Bath Fittings range introduced by the Company faced initial teethingtroubles, which have since been fully overcome. The portfolio in Bath Fittings has reachedto 51 items. The Company plans to further increase the range during 2015-16 by introducinga large varieties of Plastics Bath fittings along with Chrome Plated Bath fittings.

The Company's business to Export market saw a moderate growth of 3% in US $ terms. TheCompany is continuously trying to boost its export business of Piping Systems.

The Division's Value Added Products sale increased to 29.8% against 27.76% of lastyear. The Company has also added further 128 business Channel partners during the year.The Company has been active on supplies to various infrastructure projects which arefunded by World Bank, Asian Development Bank & other international monetary funds totheir full satisfaction. However, the demand remains subdued in this segment.

The CPVC Fire Sprinkler Pipes made by the Company have been tested and approved by theUL laboratory USA. The necessary certification as per UL-1821 is expected soon. Several ofits brands and designs under this segments are registered.

The Company spent around R 14 crores during the year on branding activities for itsPlastics Piping Division through the following tools:

a TV and FM Radio

b Print Media through several monthly journals and dailies

c Participation in Exhibition

d Holding Architects/Plumbing Contractors/Builders/

Plumbers meet at various locations in the country.

e Outdoor - Bus Panel, In-shop boards, Hoarding-wall painting

f Arranging visit of Architects/Customers/Farmers/

Plumbers/Builders to Company's Knowledge Centre at Gadegaon.

5.2 Consumer Products

5.2.1 Furniture

The Company manufactures furniture at five different locations viz: Puducherry (UT),Durgapur (West Bengal), Lalru (Punjab), Gadegaon (Maharashtra) & Guwahati (Assam) tocater effectively to different regions of the country.

The Turnover of Furniture Business grew by 6% to R 275 Crores this year after beingstagnant for last 3 years due to Company's strategy to remain passive player in commodityfurniture business. The Company continues to focus on increasing the share of value addedproducts. The overall business in volume terms increased by 3%.

The wide acceptance of some of the premium models such as Cambridge, Web, Texas etc. bycustomers due to their unique design, strength & contemporary looks has helped inestablishing the Company to be a market leader in premium range of furniture products.

The Company's business quantum of Premium Products has improved from R 125.40 Crores.in 2013-14 to R 131.07 Crores. in 2014-15. There was some delay in launching of additionalpremium products due to late arrival of moulds which has led to lower growth in value.

The Company remains committed to its investment plan to further enhance the range ofvalue added products. The Company plans to introduce 12 new models over next 6 months inthe current year which will further broaden the range of value added products. Some ofthese models will be unique in design and reinforce the premium brand image of supremefurniture.

The favorable raw material availability with better marketing strategy helped theCompany to improve OPM of this segment from 9.40% in 2013-14 to 14.75% in the year underreview.

The Company is putting up a Green Field Project to manufacture new category ofFurniture Products at Kharagpur with an investment of R 30 Crores. This is expected to goin production by January, 2016. The scope for export of these products is good. TheCompany plans to focus on export of these products in a big way.

The Company started exports of its premium range and shipped its first order of premiumProducts to South Korea. The Company will continue to explore various markets for exportof its Premium Products by participating in various international exhibitions. The Companyparticipated in two international exhibitions in the year under review where the responseto its products was encouraging.

The Company continues to expand its reach and has a network of 684 channel partnerspromoting its products. The Company continues to expand it's reach throughout the country.The Company also started promoting sales of its products through e-commerce and will befocusing to boost the sales through e-sites in the current year.

The Company invested in TV ad campaign along with its piping division for furtherstrengthening its Brand. The advertisement campaign has further boosted the brand image ofSupreme furniture.

5.3 Industrial Products

5.3.1 Industrial Components

The year under review started on the back drop of improved sentiments due to formationof stable Government at Centre, giving rise to the hope of demand revival both in Auto andConsumer Durable sectors. Although demand picked up in both Passenger Car and CommercialVehicle segments, it is far below expectations. There is gradual revival in demand ofwhite goods both in Electronics and Appliances. In anticipation of improving demand inAuto and Consumer Durables, the Division had initially projected growth of 12%. But withthe subdued growth in Automotive and Durables like Air Conditioners, Water Coolers, WaterPurifiers etc, the Division grew just over 3% in revenue. While Automotive segment revenuewitnessed de-growth of 4%, Electronics and Appliances segment grew over 11%.

Noida and Talegaon Plant's revenue continued to suffer due to two of its majorcustomers' business either got relocated or realigned in Product-Mix affecting the revenuedrastically. However, the Company re-doubled its focus to develop new customers andproducts. These efforts have started yielding positive results in improving revenue andare being continued aggressively Supplies stabilized for Honda Car for one of its compactSUV model.

Noida plant started manufacturing complete Coolers for one of the reputed customer inthis segment. Although, the volumes are still small, Company expects good growth in thisproduct as it opened new avenue for the Company. With continued efforts in developing newBusiness Mix, Company expects steady growth at Noida plant in future. Talegaon Businessdevelopment cell is being revamped. Company utilised low demand period to reorient theplant operations for optimum utilisation of resources, improve operational efficiency andconsolidate its gain to stay competitive. Company executed the largest ever order of EVMfrom Talegaon during the year under review.

Company took conscious decision to consolidate and stabilize operations before takingsteps to acquire New Business at Khushkhera plant. The plant successfully establishedsupplies to the second Honda model, i.e. Honda City and supported the customer flawlesslyduring its volume ramp-Up. This would help Company to improve its business with Hondasignificantly. Company expects good long-term prospects with Honda Motors.Focused drivewith several improvement steps were initiated to consolidate operations for future growthsustenance of the Khushkhera plant for which company is optimistic. Plant has done a goodwork in reducing power cost through series of measures with visible gain in specific powerconsumption and cost.

Chennai Plant revenue registered growth of 32.7% YOY due to addition of a New MNCcustomer BOSCH in Appliances Segment. Company started and stabilized supplies of WashingMachine parts and sub-assemblies to BSH and supported flawlessly for its productionramp-Up. This Customer has set up its huge manufacturing facility in India and would belaunching various other Home Appliance products during next few years. Company expectsgood growth with this customer in years to come. Chennai plant continued to have adverseeffect due to frequent power shortage in Tamil Nadu. However, the Company could ensuretrouble free supplies to all the customers, even running the plant by using expensivecaptive power. Although power situation is now improving, it is still far fromsatisfactory.

Puducherry Plant registered a de-growth of about 3% in value terms although partssupplied for Washing Machine sets grew by about 15% due to improved demand of WashingMachine parts from Company's main customer. The lower sales revenue is due to sales ofhigher quantum of low cost model. The drive taken during previous couple of years toautomate the plant for manpower rationalization, consistency in quality, improvingproductivity, is maturing fast.

Durgapur Plant witnessed growth of about 14% from its major customer in Auto andInverter storage battery segment. The demand was good during first half of the yearalthough it slowed down a little during last quarter. Company expects better growth duringthis year from this customer once recovery takes place in Auto Sector.

Initiatives taken to rationalize and consolidate manpower through automation are beingcontinued. The new machines and equipment's, which are being added, are equipped with thelatest technology, energy efficient and designed for good repeatability for betterquality. All these initiatives along with continuous updation to upgraded version ofQuality Management System will ensure better Quality, Productivity, Safety, energyconservation and Cost optimisation. These measures have also helped Company to negate theimpact of inflation due to various manufacturing cost increases and there by remaincompetitive.

In view of the subdued growth in different Industrial Sectors and sluggishness ineconomy during last couple of years, Company exercised cautious approach in building anyadditional capacity in the Division. Hence, Capex had been restricted only for enhancingQuality/productivity and Energy Efficiency. Capacity Rationalization was achieved bydiscarding old and inefficient machines and replacing few of them by new, modern andenergy efficient machines.

Company is continuously putting its efforts to improve energy management by way ofmonitoring energy related parameters on regular basis. Focus on Energy Cost Managementinclude even buying power through power exchanges. These initiatives of the Company, apartfrom cost reduction, will support Environment and Green Initiatives.

Company has taken lot of HR initiatives at all its locations. Structured approach tobridge the Competency Gap and Performance Management System is being monitored to enhanceHuman Capital. Lot of Employee Engagement activities are initiated at all plants.

Overall rating of the Company by its customers meets or exceeds their expectations.Company is considered a highly dependable and valuable supplier. Company received variousAwards and Recognitions from time to time from its customers for its support in Quality,Cost, Delivery and New product development, Overall Support, Best Practices etc. Allemployees are being constantly reoriented to ensure utmost focus on Customer Satisfaction.The Journey towards excellence is continuous and is being cultivated as a culture.

5.3.2 Material Handling Products

This division mainly caters to Industrial sector and with manufacturing index downduring the year under review, most of manufacturing sectors suffered. The Company wassuccessful in retaining all major reputed customers with excellent service and reliablesupplier reputation. The Company achieved a value growth of approx. 23% and a volumegrowth of 12%, during last year. The Company continues to service its client with leastleadtime at economical cost by manufacturing at six own manufacturing sites spread acrossthe country.

During the last financial year overall Automobiles and Appliance manufacturing has beensubdued. However, the division with its loyal customer base posted a 18% growth in cratesbusiness in Industrial sector.

The Company continues to be leader in the Injection Moulded Pallet business in India.With Consistent approach to make aware and educate the customers for usage of Injectionmoulded Pallets in contrast to conventional wooden pallets has yielded excellent resultswith Pallets business growth being over 23%. The trials of Company's Injection mouldedpallets have been successfully taken by Premium Govt. agencies for food grain storage.Their reports have established a superiority of Plastics pallets over conventional woodenand poly coated steel pallets.

With BIS standard already in place for "Bags storage in go down" the Companyexpects good business volume. It has further enhanced product portfolio with uniqueapplication focused products. Range of Cargo Pallets for Exports application has been wellaccepted in the market. The Company's enhanced Injection Moulding Pallet making capacityat Gadegaon is functioning well. The plans have been drawn to further enhance themanufacturing capacity of Pallet production.

Soft drink bottle crates achieved an excellent growth of 34% over preceding previousyear. The Company expects that in the current year also there will be decent growth inthis segment. The Company's innovations in fisheries crates for its durability, have beenappreciated by users. The Company is consistently increasing it's presence in thissegment. In coming year, the Company expects a sizable market share for this business.

The Roto Moulding facility of Company at Gadegaon is functioning well along with PUfacility to meet specific heavy-duty requirement for supply of PU filled Roto Mouldeditems. The Company now has a range of Roto Moulded products. There is a freightdisadvantage to supply Pan-India Roto moulded products from this location. The Company hasre-worked it's strategies for making it successful vertical as the Dustbin demand isgrowing throughout the country with Swatch Bharat Abhiyan. The Company plans to start themanufacturing at three more locations during this year to overcome the freightdisadvantage.

The Company's channel partners are always its strength. The division has increased thenumber of channel partners to 202 from 192, which will be further increased in the currentyear.

5.4 Packaging Products

5.4.1 Packaging Films

The division had a sale growth of 9.27% during the year. Domestic sales grew from 6424tons to 7020 tons.

Despite entry of new players in the market and resultant price war, Company's regularcustomers continued their support to the Company. Oil segment continued to be the majorsegment for the division.

A specialty product [High Gloss film] has been successfully developed and is findinggood response from customers. Besides, other value-added products have also beensuccessfully developed and are expected to contribute to higher sales in the coming year.

Exports were 685 tons during the year under review as against 513 tons during precedingprevious year. New customers have been added. Exports are expected to show higher growth.Participation in international exhibitions has helped in higher exports. The Companyintends to continue to participate in international exhibitions to expand its reach to newcountries.

The Company expects a growth of 10-12 % in value in the current year.


Protective Packaging Division grew by 13.5% in volume and 12% in value over precedingprevious year. The value drop was on account of a huge drop in prices of Raw Materialduring the year. The division has drawn an ambitious plan of reaching R 800 Cr turnover by201920. Business opportunities are aplenty and the division by virtue of its capabilitiesand image of a solution provider is well poised to take advantage of the situation. Thedivision is considering two to three new manufacturing locations over the next five years.This will position it logistically in these markets, which are growing well. The Company'sproducts due to their high expansion ratio become logistically unviable to service overlong distance, hence the need for more manufacturing facilities closer to market.

Besides, the division will also be adding several new product lines in this period toenhance its large product range.

Packaging vertical:

With technology from a Company in Taiwan, the crosslinked block foam productioncapacity at Malanpur has been enhanced by 20% from the existing equipments. This hasalready given some cost benefits to the division during the year. Full advantage of thesame will occur this year and beyond. The existing capacity will be further enhanced by720 MTPA in October when Company's new press will be installed. By virtue of the above,total crosslink block foam capacity will increase from 3550 MTPA to 5000 MTPA this year.

Chemical cross-linked foams (XLC), which were manufactured primarily for insulation isnow widely used in packaging applications. This enhances the packaging vertical'sspecialty product range.

Air bubble films, which were on a de-growth over the last few years due to localcompetition has started to grow since last year (2013/14) as customers have realized theefficacy of good quality products. As a result, this product line has grown by 24% involume over the last year.

The packaging segment will further grow after the commercial production of Kharagpurunit. The project is expected to start in the Oct-Dec quarter of 2015.

This new plant will have an installed saleable capacity of 4000 MTPA. Based on themarket feedback, this quantity shall be sold out in April-March 2016-17.

Construction vertical:

The construction industry continues to remain in slower growth phase. Expenditure onconstruction and infrastructure projects have not yet picked up. This vertical hasachieved a growth of 13% in value and 5% in volume. The vertical did not grow as expected.

The new range of products 'Dura floor protector', which was introduced last year hasgained significant acceptance in the present year. The Company is making deeper inroads inreaching this product to the B & C towns. This product will be a significant growthdriver for this vertical over the years.

The Company expects increased expenditure in infrastructure projects this year. Otherconstruction projects may start growing from the Jan-March 2016 quarter. The Companyexpects a steady growth of 10-15% in this vertical this year.

Insulation vertical:

Insulation business has not grown as expected during the year as many projects havebeen delayed, primarily due to inadequate cash flow in the market. Competition in thisrange of products is now increasing and nonstandard products are being supplied by thecompetitors. The division has worked to reduce p

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Key Information

Key Executives:

B L Taparia , Chairman

M P Taparia , Managing Director

S J Taparia , Executive Director

V K Taparia , Executive Director

Company Head Office / Quarters:

612 Raheja Chambers,
Nariman Point,
Phone : Maharashtra-91-22-22851656 / Maharashtra-
Fax : Maharashtra-91-22-22851657 / Maharashtra-
E-mail : investor@supreme.co.in
Web : http://www.supreme.co.in


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