Mumbai: The Supreme Industries Limited (Supreme), India’s leading Plastics product manufacturing company, announced its Un-Audited Standalone & Consolidated financial results for the First Quarter ended 30th June, 2016, at its Board Meeting held today.
[A] Standalone Results
(Rs. in Crores)
30th June 2016
[B] Consolidated Results
Including results of (a) the Company’s 100% Subsidiary Company viz. “The Supreme Industries Overseas (FZE) incorporated in SAIF Zone, UAE and (b) Associate Company viz. “Supreme Petrochem Limited”, in which the Company holds 29.99% of its paid-up equity share capital
(Rs. in Crores)
[C] Product Group wise Performance
(D) The share of overall Sales in the Value added products has been 34.98 % of the Total Sales in the Quarter ended 30th June, 2016 as against 34.74% in the corresponding Quarter ended 30th June, 2015. The Company’s focus remains to increase the share of value added products in its turnover.
(E) Composite LPG Cylinders:
Company has executed initial educational order of 4500 pieces from HPCL and awaiting its launch in domestic market which shall happen shortly. Company is also getting numerous enquiries from overseas market. It expects that from October’ 2016 onwards, existing capacities shall be put to use at a profitable level.
[F] Capex Plan:
During the Current year, Company envisages Capex of about Rs. 250 crores mainly on following segments:-
Furniture products, Material Handling Products, Roto Moulded products and
Mr. M. P. Taparia, Managing Director, The Supreme Industries Limited, said:
The Polymer prices remain at affordable level. The effect of better monsoon this year throughout the country along with pay commission increased recommendation going through will bring better growth in business. The volume growth of polymer consumption in April-June quarter was around 11%.
The spending on infrastructure by various state governments to augment drinking water supply and installing sewerage and drainage system augurs well for the company’s business. During the current year, Company envisages volume growth between 12% to 15% over the corresponding period of previous year.
The Company’s capital expenditure plans are going smoothly. Company is confident to reduce its average monthly borrowings by Rs. 100 Crores even after meeting its capex and increased working capital requirement.
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