The Supreme Industries Limited (Supreme), India’s leading Plastics product manufacturing company, announced its Audited Standalone & Consolidated financial results for the Third Quarter / Year (comprising of 9 months) ended 31st March, 2016, at its Board Meeting held today.
A] Standalone Results (Excluding Property Business)
(Rs. in Crores)
[B] Consolidated Results (Excluding Property Business)
[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] Property Business: Total Income, Profit before Tax and Profit After Tax of Property Business for the period ended 31st March’2016 were Rs. NIL, Rs (1.01) crores and Rs. Rs (0.66) crores, as compared to Rs. 115.67crores, Rs 78.56 crores and Rs. 52.00 Crores respectively during the corresponding period of the previous year. In the previous year ended 30th June, 2015 Total Income, Profit before Tax and Profit After Tax for the year amounted to Rs 139.32 crores, Rs. 95.11 crores and Rs. 62.86 Crores respectively.
[D] The Board of Directors has declared two interim dividends aggregating 375% i.e. Rs 7.50/- per equity share of face value of Rs. 2/-each. The Board has considered it prudent to keep the same as total dividend for the period under review. Total outgo includig tax on dividend distribution remained at Rs. 114.99 crs as against Rs. 137.18 crs in previous year of 12 months.
[E] Product Group wise Performance
(F) The share of overall Sales in the Value added products has been 36.73 % of the Total Sales in the year ended 31st March, 2016 as against 33.95 % in the corresponding 9 months period of the previous year. The Company’s focus remains to increase the share of value added products in its turnover.
(G) Composite LPG Cylinders:
Government of India through Ministry of Petroleum is taking initiatives for Indian consumers and making all efforts to launch Composite LPG Cylinders in domestic Market. Composite cylinders are quiet safe since they do not explode and cause injuries/death to surrounding people in case of fire or any other mishap. Further Composite cylinder being translucent would also reduce pilferage and wastage of gas for the end consumer and as such is well suited for Indian market.
The Company has received initial educational order from Hindustan Petroleum Corporation Ltd. (HPCL) for its two sizes 5 kg and 10 kg. The dispatches are planned to be made in April, 2016. The Company has also received order for 7.5 kg and 15 kg cylinders which is under development and would be ready in second quarter of 2016. The Company is confident that with all the initiatives and development taking place, there shall be good demand for the product from Indian oil marketing companies.
The current year seems to be the transforming year for the composite cylinder division. The Company may start reaping the benefits of its investments.
[H] Capex Plan:
During the Current year, Company envisages Capex of about Rs. 250 crores mainly on following segments:-
Mr. M. P. Taparia, Managing Director, The Supreme Industries Limited, said:
The Polymer prices hovered at a lower level during most part of the year. The Polymer consumption in the country has grown by around 14% in volume terms close to two times GDP growth during the year. Such consumption driven growth has not been seen in the last decade. The Country has consumed around 13.7 million tons of Plastics in last year compared to around 12 million tons in the previous year. This augurs well for the Company’s growth plan.
The Company is confident of meeting its Capital Expenditure requirements through its internal accruals & suppliers’ Credit. Company has no plans to increase its borrowing levels. It wishes to become virtual debt free in next couple of years.
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