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Supreme Industries: Flattish volume growth

Nov 1, 2013 | Updated on Oct 30, 2019

Supreme Industries has announced the first quarter results of financial year 2013-2014 (1QFY14). It’s a June ending company. The company has reported around 14.2% YoY growth in sales while net profits have grown by 10.4% YoY. Here is our analysis of the results.

Performance summary
  • Consolidated total income increases 14.2% YoY during 1QFY14. During the period, Supreme sold 49,978 metric tons (MT) of polymers; up 0.4% YoY.
  • Operating profits increased 8.5% YoY, in line with healthy top line growth. However, operating margins were down by 70 bps and stood at 13.0% during the quarter. Higher cost of raw materials due to rising crude prices and depreciating rupee impacted margins. It may be noted that prices of raw materials have increased in the region of 15.5% to 19.5% in less than two months time. As a result, the raw material cost as a percentage of sales increased to 64.8% in 1QFY14 from 63.5% in 1QFY13.
  • Net profits increased 10.4% YoY. Increase in other income and higher share of profits from associate’s boosted net profits.
  • The company plans to incur a capex of Rs 2.3 bn in FY14.

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