*Supreme Industries Ltd.*
Q2FY22 Result Quarterly Announced for Supreme Industries Ltd.
The Board of Directors has declared the interim dividend @ 300 % i.e. Rs. 6 per share of Rs. 2 each (FV), for the financial year 2021-22 .The Dividend will be paid to those shareholders whose names stand on the Register of Members as on the Record date i.e. 1st November, 2021.
The overall turnover of value added products increased to Rs. 758 crores during the current 2nd quarter as compared to Rs. 533 crores in the corresponding period of previous year achieving growth of 42%.
The Company has Cash Surplus funds of Rs. 331 crores as on 30th Sep, 2021 as against Cash Surplus funds of Rs. 759 crores as on 31st March, 2021.
Mr. M. P. Taparia, Managing Director, The Supreme Industries Limited, said:As the effect of second wave of Covid -19 started ebbing down, there was revival of business in all the segments serviced by the Company. In spite of continuous rise in all grades of Polymer prices, the Company had volume growth in all its segments. The Polymer prices have risen between 7% to 28% during this quarter. Highest increase was in the price of PVC resin, where prices have gone by Rs.34 per kg. The price increase trend continues unabated in the current quarter also.
In Plastics Pipe segment, the demand from housing segment has revived. The Company had around 9% volume growth in Pipe System in the quarter. In spite of current high price, the demand outlook in Housing and agri segment looks maintainable. There is a shift in higher demand for CPVC system as the prices of that system have not gone high compared to PVC system.
The Company’s progress in putting up plants at Guwahati, Cuttack and Erode are moving smoothly. All these plants will be operational between January 2022 to May 2022. The Company’s envisaged capex plant of 521 crores for the year including carried forward commitment of previous year is going on smoothly.
The Company is also adding new systems over and above it’s existing 36 system in Plastic Pipe System, during this financial year for which the investment plan is going smoothly.