Supreme Industries consolidated net sales increased 5.49% to Rs 1945.11 crore in Q3FY22 compared to Q3FY21. Sales of Plastics Piping Products segment has gone up 0.68% to Rs 1,147.93 crore (accounting for 59.02% of total sales). Sales of Industrial Products segment has gone up 25.65% to Rs 271.52 crore (accounting for 13.96% of total sales). Sales of Packing Products segment rose 16.30% to Rs 369.73 crore (accounting for 19.01% of total sales). Sales of Consumer Products segment has gone up 9.18% to Rs 127.46 crore (accounting for 6.55% of total sales). Sales of Others segment has gone down 46.12% to Rs 28.47 crore (accounting for 1.46% of total sales).
Operating profit margin has declined from 21.78% to 16.34%, leading to 20.84% decline in operating profit to Rs 317.88 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 59.56% to 66.57%. Purchase of finished goods cost fell from 2.73% to 1.96%. Employee cost decreased from 4.49% to 4.45%. Other expenses fell from 11.04% to 10.96%. Power and Oil fuel cost fell from 3.06% to 2.58%.
Other income fell 20.11% to Rs 2.94 crore. PBIDT fell 20.83% to Rs 320.82 crore. Profit before interest, tax and other unallocable items (PBIT) has slumped 24.00% to Rs 263.68 crore. PBIT of Plastics Piping Products segment fell 24.33% to Rs 189.39 crore (accounting for 71.83% of total PBIT). PBIT of Industrial Products segment rose 11.77% to Rs 22.41 crore (accounting for 8.50% of total PBIT). PBIT of Packing Products segment fell 38.30% to Rs 24.60 crore (accounting for 9.33% of total PBIT). PBIT of Consumer Products segment fell 6.04% to Rs 21.45 crore (accounting for 8.13% of total PBIT). PBIT of Others segment fell 58.12% to Rs 5.83 crore (accounting for 2.21% of total PBIT).
PBIT margin of Plastics Piping Products segment fell from 21.95% to 16.50%. PBIT margin of Industrial Products segment fell from 9.28% to 8.25%. PBIT margin of Packing Products segment fell from 12.54% to 6.65%. PBIT margin of Consumer Products segment fell from 19.56% to 16.83%. PBIT margin of Others segment fell from 26.34% to 20.48%. Overall PBIT margin fell from 18.82% to 13.56%.
Provision for interest fell 79% to Rs 0.46 crore. PBDT fell 20.52% to Rs 320.36 crore. Provision for depreciation rose 4.64% to Rs 57.47 crore.
Profit before tax down 24.49% to Rs 262.89 crore. Share of profit/loss was 4.05% lower at Rs 50.65 crore. Provision for tax was expense of Rs 67.82 crore, compared to Rs 88.64 crore. Effective tax rate was 21.63% compared to 22.11%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 21.31% to Rs 245.72 crore.
Promoters stake was 48.85% as of 31 December 2021 compared to 48.85% as of 31 December 2020.
For year-to-date (YTD) results analysis
Net sales of Supreme Industries have increased 22.08% to Rs 5215.73 crore. Sales of Plastics Piping Products segment has gone up 17.96% to Rs 3,246.26 crore (accounting for 62.24% of total sales). Sales of Industrial Products segment has gone up 54.56% to Rs 723.39 crore (accounting for 13.87% of total sales). Sales of Packing Products segment rose 22.86% to Rs 891.14 crore (accounting for 17.09% of total sales). Sales of Consumer Products segment has gone up 24.71% to Rs 287.09 crore (accounting for 5.50% of total sales). Sales of Others segment has gone down 29.95% to Rs 67.85 crore (accounting for 1.30% of total sales).
Operating profit margin has declined from 18.13% to 16.31%, leading to 9.83% rise in operating profit to Rs 850.68 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 61.42% to 66.85%. Purchase of finished goods cost fell from 2.32% to 1.81%. Employee cost decreased from 5.22% to 4.68%. Other expenses fell from 12.42% to 11.03%. Power and Oil fuel cost fell from 3.46% to 2.79%.
Other income rose 31.06% to Rs 11.35 crore. PBIDT rose 10.07% to Rs 862.03 crore. Profit before interest, tax and other unallocable items (PBIT) have jumped 10.46% to Rs 693.00 crore. PBIT of Plastics Piping Products segment rose 13.07% to Rs 524.97 crore (accounting for 75.75% of total PBIT). PBIT of Industrial Products segment rose 120.21% to Rs 53.82 crore (accounting for 7.77% of total PBIT). PBIT of Packing Products segment fell 19.78% to Rs 67.22 crore (accounting for 9.70% of total PBIT). PBIT of Consumer Products segment rose 27.56% to Rs 39.57 crore (accounting for 5.71% of total PBIT). PBIT of Others segment fell 68.88% to Rs 7.42 crore (accounting for 1.07% of total PBIT).
PBIT margin of Plastics Piping Products segment fell from 16.87% to 16.17%. PBIT margin of Industrial Products segment rose from 5.22% to 7.44%. PBIT margin of Packing Products segment fell from 11.55% to 7.54%. PBIT margin of Consumer Products segment rose from 13.47% to 13.78%. PBIT margin of Others segment fell from 24.61% to 10.94%. Overall PBIT margin fell from 14.68% to 13.29%.
Provision for interest fell 80.87% to Rs 3.27 crore. PBDT rose 12.10% to Rs 858.76 crore. Provision for depreciation rose 8.04% to Rs 170.7 crore.
Profit before tax grew 13.15% to Rs 688.06 crore. Share of profit/loss was 78.16% higher at Rs 134.78 crore. Provision for tax was expense of Rs 178.25 crore, compared to Rs 155.98 crore. Effective tax rate was 21.66% compared to 22.81%. Net profit attributable to owners of the company increased 22.14% to Rs 644.59 crore.
Promoters stake was 48.85% as of 31 December 2021 compared to 48.85% as of 31 December 2020.
FY 2021 consolidated results
Net sales (including other operating income) of Supreme Industries has increased 15.34% to Rs 6357.06 crore. Sales of Plastics Piping Products segment has gone up 18.98% to Rs 4,098.79 crore (accounting for 64.48% of total sales). Sales of Industrial Products segment has gone up 13.06% to Rs 761.12 crore (accounting for 11.97% of total sales). Sales of Packing Products segment rose 7.90% to Rs 1,035.06 crore (accounting for 16.28% of total sales). Sales of Consumer Products segment has gone down 7.57% to Rs 354.21 crore (accounting for 5.57% of total sales). Sales of Others segment has gone up 111.49% to Rs 107.88 crore (accounting for 1.70% of total sales).
Operating profit margin has jumped from 15.14% to 20.20%, leading to 53.89% rise in operating profit to Rs 1,284.25 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 65.17% to 60.65%. Purchase of finished goods cost rose from 0.83% to 1.99%. Employee cost increased from 4.91% to 5.00%. Other expenses fell from 14.41% to 11.66%.
Other income rose 198.60% to Rs 4.27 crore. Provision for interest fell 52.95% to Rs 9.5 crore. Loan funds declined from Rs 440.42 crore as of 31 March 2020 to Rs 26.27 crore as of 31 March 2021. Inventories declined from Rs 890.57 crore as of 31 March 2020 to Rs 760.77 crore as of 31 March 2021. Sundry debtors were higher at Rs 389.83 crore as of 31 March 2021 compared to Rs 312.84 crore as of 31 March 2020. Cash and bank balance rose to Rs 768.40 crore as of 31 March 2021 from Rs 231.39 crore as of 31 March 2020. Investments rose to Rs 336.59 crore as of 31 March 2021 from Rs 207.30 crore as of 31 March 2020 .
Profit before interest, tax and other unallocable items (PBIT) has jumped 66.35% to Rs 1,093.23 crore. PBIT of Plastics Piping Products segment rose 78.34% to Rs 821.29 crore (accounting for 75.13% of total PBIT). PBIT of Industrial Products segment rose 94.78% to Rs 63.46 crore (accounting for 5.80% of total PBIT). PBIT of Packing Products segment rose 22.74% to Rs 124.59 crore (accounting for 11.40% of total PBIT). PBIT of Consumer Products segment rose 3.58% to Rs 59.66 crore (accounting for 5.46% of total PBIT). PBIT of Others segment rose 387.53% to Rs 24.23 crore (accounting for 2.22% of total PBIT).
PBIT margin of Plastics Piping Products segment rose from 13.37% to 20.04%. PBIT margin of Industrial Products segment rose from 4.84% to 8.34%. PBIT margin of Packing Products segment rose from 10.58% to 12.04%. PBIT margin of Consumer Products segment rose from 15.03% to 16.84%. PBIT margin of Others segment rose from 9.74% to 22.46%. Overall PBIT margin rose from 11.92% to 17.20%.
Provision for depreciation rose 3.46% to Rs 212.79 crore. Fixed assets increased to Rs 1,754.12 crore as of 31 March 2021 from Rs 1,684.64 crore as of 31 March 2020. Intangible assets declined from Rs 16.02 crore to Rs 11.18 crore.
Profit before tax grew 74.76% to Rs 1,066.23 crore. Share of profit/loss was 367.77% higher at Rs 145.99 crore. Provision for tax was expense of Rs 234.08 crore, compared to Rs 173.92 crore. Effective tax rate was 19.31% compared to 27.12%.
Net profit attributable to owners of the company increased 109.27% to Rs 978.14 crore.
Promoters stake was 48.85% as of 31 March 2021 compared to 49.94% as of 31 March 2020.
The stock trades at Rs 2130.
|
Supreme Industries: Consolidated Result |
|||||||||
|
Particulars |
2112 (03) | 2012 (03) |
Var. (%) |
2112 (09) | 2012 (09) |
Var. (%) |
2103 (12) | 2003 (12) |
Var. (%) |
| Sales | 1945.11 | 1843.80 | 5 | 5215.73 | 4272.47 | 22 | 6357.06 | 5511.54 | 15 |
| OPM (%) | 16.3 | 21.8 | 16.3 | 18.1 | 20.2 | 15.1 | |||
| OP | 317.88 | 401.56 | -21 | 850.68 | 774.51 | 10 | 1284.25 | 829.55 | 55 |
| Profit from construction business | 0.0 | 0.0 | 0.0 | 0.0 | 0.00 | 5.00 | |||
| OP including construction business | 317.88 | 401.56 | -21 | 850.68 | 774.51 | 10 | 1284.25 | 834.55 | 54 |
| Other inc. | 2.94 | 3.68 | 999 | 11.35 | 8.66 | 999 | 4.27 | 1.43 | 199 |
| PBIDT | 320.82 | 405.24 | -21 | 862.03 | 783.17 | 10 | 1288.52 | 835.98 | 54 |
| Interest | 0.46 | 2.19 | -79 | 3.27 | 17.09 | -81 | 9.50 | 20.19 | -53 |
| PBDT | 320.36 | 403.05 | -21 | 858.76 | 766.08 | 12 | 1279.02 | 815.79 | 57 |
| Dep. | 57.47 | 54.92 | 5 | 170.70 | 157.99 | 8 | 212.79 | 205.68 | 3 |
| PBT before Share of profit of Associates | 262.89 | 348.13 | -24 | 688.06 | 608.09 | 13 | 1066.23 | 610.11 | 75 |
| Share of profit of Associates | 50.65 | 52.79 | -4 | 134.78 | 75.65 | 78 | 145.99 | 31.21 | 368 |
| PBT before EO | 313.54 | 400.92 | -22 | 822.84 | 683.74 | 20 | 1212.22 | 641.32 | 89 |
| EO | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| PBT after EO | 313.54 | 400.92 | -22 | 822.84 | 683.74 | 20 | 1212.22 | 641.32 | 89 |
| Total Tax | 67.82 | 88.64 | -23 | 178.25 | 155.98 | 14 | 234.08 | 173.92 | 35 |
| PAT | 245.72 | 312.28 | -21 | 644.59 | 527.76 | 22 | 978.14 | 467.40 | 109 |
| EPS (Rs) * | # | # | # | # | 77.0 | 36.8 | |||
| * Annualised on current equity of Rs 25.41 crore. Face Value: Rs 2 each | |||||||||
| # EPS not annualised due to seasonality of business | |||||||||
| EO: Extra Ordinary items, EPS is calculated after excluding EO and relevant tax | |||||||||
| Figures in Rs crore, Var (%) exceeding 999 is restricted to 999 | |||||||||
| Source: Capitaline Database |
|
Supreme Industries : Consolidated Segment Results |
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|
|
% of (Total) |
2112 (03) | 2012 (03) |
Var.(%) |
% of (Total) |
2112 (09) | 2012 (09) |
Var.(%) |
% of (Total) |
2103 (12) | 2003 (12) |
Var.(%) |
|
Sales |
||||||||||||
| Plastics Piping Products | 59 | 1,147.93 | 1140.2 | 1 | 62 | 3,246.26 | 2,752.04 | 18 | 64 | 4,098.79 | 3,444.87 | 19 |
| Industrial Products | 14 | 271.52 | 216.1 | 26 | 14 | 723.39 | 468.03 | 55 | 12 | 761.12 | 673.19 | 13 |
| Packaging Products | 19 | 369.73 | 317.92 | 16 | 17 | 891.14 | 725.33 | 23 | 16 | 1,035.06 | 959.27 | 8 |
| Consumer Products | 7 | 127.46 | 116.74 | 9 | 6 | 287.09 | 230.21 | 25 | 6 | 354.21 | 383.2 | -8 |
| Others | 1 | 28.47 | 52.84 | -46 | 1 | 67.85 | 96.86 | -30 | 2 | 107.88 | 51.01 | 111 |
| Total Reported Sales | 100 | 1,945.11 | 1,843.80 | 5 | 100 | 5,215.73 | 4,272.47 | 22 | 100 | 6,357.06 | 5,511.54 | 15 |
|
PBIT |
||||||||||||
| Plastics Piping Products | 72 | 189.39 | 250.27 | -24 | 76 | 524.97 | 464.28 | 13 | 75 | 821.29 | 460.52 | 78 |
| Industrial Products | 8 | 22.41 | 20.05 | 12 | 8 | 53.82 | 24.44 | 120 | 6 | 63.46 | 32.58 | 95 |
| Packing Products | 9 | 24.6 | 39.87 | -38 | 10 | 67.22 | 83.79 | -20 | 11 | 124.59 | 101.51 | 23 |
| Consumer Products | 8 | 21.45 | 22.83 | -6 | 6 | 39.57 | 31.02 | 28 | 5 | 59.66 | 57.6 | 4 |
| Others | 2 | 5.83 | 13.92 | -58 | 1 | 7.42 | 23.84 | -69 | 2 | 24.23 | 4.97 | 388 |
| Total PBIT | 100 | 263.68 | 346.94 | -24 | 100 | 693.00 | 627.37 | 10 | 100 | 1,093.23 | 657.18 | 66 |
| Less : Interest | 0.46 | 2.19 | -79 | 3.27 | 17.09 | -81 | 22.13 | 20.19 | 10 | |||
| Add: Other un-allcoable | 50.32 | 56.17 | -10 | 133.11 | 73.46 | 81 | 141.12 | 4.33 | 999 | |||
|
PBT |
313.54 | 400.92 | -22 | 822.84 | 683.74 | 20 | 1,212.22 | 641.32 | 89 |
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