Supreme Industries has announced its second quarter results of FY10 (June ending company). It has reported profit after tax (PAT) of Rs 35.91 crore as against loss of Rs 1.4 crore.
Revenues increased to Rs 484.1 crore versus Rs 351.4 crore and operating profit margin (OPM) improved to 14.13% from 4.9%.
Interest costs have come down to Rs 9.85 crore from Rs 14.11 crore. The company has declared Interim Dividend of 50% i.e. Rs 5.
For the first half of FY10, its revenues stood at Rs 826.71 crore as against Rs 645.91 crore and PAT at Rs 55.77 crore versus Rs 8.86 crore.
Volume Growth
-Processed 85,476 MT of polymers during the first half of the current year against 67,260 MT
-Volume growth of 27.08% during 1st half of current year
-Annual volume growth during the current year in excess of 20% over the previous year
Realty
-Commercial Complex with saleable area of 2,50,000 sq ft with at Andheri is ready for fit out possession
-In Q2 co realized Rs 2044.98 lacs from sale of 13,106 sq. ft
-Construction of commercial property as new non recurring business activity; revenues from the same being insignificant With respect to total turnover of the Company.
Segments
-Supreme Industries operates across four segments
-Plastic pipes is 40%, packaging (27%), industrial (21%) and consumer products (12%) of total business.
Pipes
-Pipes made by the company find extensive use in irrigation, bore-wells, portable water supply
-A derived demand could come from the increase in rural irrigation as well infrastructure outlays Replacement of metal pipes with plastic is also a positive factor for the company
Packaging
-Packaging division caters to a wide spectrum of user industries, such as sports goods, electronics, food Range from packaging film to protective packaging material
Industrial
-In the industrial products segment manufactures dashboards and other components for autos
Example - Tata Motors and Mahindra and Mahindra being some of the important customers
-And equipments for consumer electronic goods such as LCD TVs and air-conditioners
PepsiCo India and Coca Cola India are major customers
Consumer Products
-Consumer products division, the company is a market leader in the moulded furniture segment,
Capacity Expansion
-In 2009 co expanded its production capacity of cross-laminated film and products
-Was at its Halol, Silvassa, Gadegaon and Pondicherry plants, from 9000 TPA to 13000 TPA
-Also increased the capacity of injection moulding machines and ancillary equipments
-Has started a new factory at Jamshedpur for the ‘World Truck’ project of Tata Motors
-Has expanded plant capacities in Gadegaon and Jalgaon to launch varieties of plastics piping systems
Source: CNBC-TV18Courtesy moneycontrol.com
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