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Supreme Industries: Healthy volume growth

Jul 22, 2013

Supreme Industries and full year results of financial year 2012-2013 (4QFY13). It's a June ending company. The company has reported around 14.5% YoY growth in both sales and net profits. Here is our analysis of the results.

Performance summary
  • Consolidated total income increases 14.5% YoY during 4QFY13. For the full year, total income increased 16.3% YoY. During 4QFY13, Supreme processed 80,327 metric tons (MT) of polymers; up 17.7% YoY. For the full year, the company processed 281,452 MT of polymer with a volume growth of 14.6% YoY.
  • Operating profits increased 12.2% YoY, in line with healthy top line growth. However, operating margins were down by 40 bps and stood at 18.7% during the quarter. For the full year too, operating margins were down by 40 bps and stood at 15.7%. Higher cost of raw materials due to rising crude prices and depreciating rupee impacted margins.
  • Net profits increased 14.5% YoY. Strong performance at the operating level and higher share of profits from associates boosted net profits.
  • The board of directors recommended a final dividend of Rs 5.5 per share. An interim dividend of Rs 2 was also declared during the year.
  • The consolidated debt to equity ratio stood at 0.47x at the end of the year.
  • The company plans to incur a capex of Rs 2.5 bn in FY14.
  • Average borrowing cost for the year was 9.1% p.a.
  • Total capacity stands at 430,000 metric tons as at the end of the year.

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