The Supreme Industries Limited (SIL), India’s leading Plastics processor, announced its Un-audited consolidated financial results for the third quarter / nine months ended 31st March, 2012, at its Board Meeting held today.
(A) The Company processed 1,77,439 MT of polymers and achieved net product turnover of Rs. 1,902.81 Crores during the 9 months of the current year against processing of 1,67,680 MT and net product turnover of Rs 1,617.83 crores in the corresponding period of previous year achieving volume & product value growth of about 6% and 18% respectively.
(B) The operational financial performance highlights for the third quarter ended 31st March, 2012 excluding its non-recurring construction business activities, are as follows -
- Total Income and Operating Profit for the third quarter ended 31st March, 2012 amounted to Rs. 768.54 crores and Rs. 104.83 crores , as compared to Rs. 662.45 crores and Rs. 83.70 crores, for the corresponding quarter of the previous year, recording an increase of 16% and around 25% respectively.
- The Profit before Tax and Profit after Tax amounted to Rs. 72.81 crores and Rs. 49.31 crores respectively, as compared to Rs. 54.46 crores and Rs. 39.46 crores, for the corresponding quarter of the previous year.
(C) The operational financial performance highlights for the 9 months ended 31st March, 2012, excluding non-recurring construction business activities, are as follows –
- Total Income and Operating Profit for the 9 months of the current year amounted to Rs. 1,970.17 crores and Rs. 252.55 crores as compared to Rs. 1,681.27 crores and Rs. 219.78 crores , for corresponding period of the previous year, recording an increase of around 17% and 15% respectively.
- The Profit before Tax and Profit after Tax, for the 9 months of the current year amounted to Rs. 168.98 crores and Rs. 116.13 crores respectively, as compared to Rs. 152.27 crores and Rs. 104.77 crores, for the corresponding period of the previous year.
The consolidated financial 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 29.88% of its paid-up equity share capital], is summarized below :-
(Rs. in crores)
|
Particulars |
Financial Results for the 3rd quarter ended 31st March, 2012 |
Financial Results for the 9 months ended 31st March, 2012 |
||||
|
2012 |
2011 |
Change (%) |
2012 |
2011 |
Change (%) |
|
| Total Income |
768.55 |
662.51 |
16.00 |
2039.44 |
1721.23 |
18.48 |
| Operating Profit (PBDIT) |
104.75 |
83.68 |
25.18 |
296.18 |
243.45 |
21.66 |
| Cash Profit (PAT + D) |
66.40 |
55.80 |
19.00 |
189.91 |
161.51 |
17.58 |
| Profit Before Tax |
72.75 |
54.44 |
33.63 |
204.51 |
170.71 |
19.80 |
| Consolidated Net Profit after Tax |
54.68 |
48.27 |
13.28 |
146.52 |
135.59 |
8.06 |
Expansion Plans
Company’s expansion plans involving total capital outlay of about Rs. 250 crores are progressing well. All requisite effective steps including purchase of land, construction of building and ordering of key equipments have been taken to set up new units /expansion of existing capacities . Brief status of the same is summarised hereinbelow:
(a) New Unit at Hosur in Tamilnadu for Protective Packaging Products with an investment of about Rs. 25 crores is likely to be operational by end of June, 2012.
(b) Construction of building at New Unit for expanding capacities of Cross laminated Film at Halol (Gujarat) is in full swing and orders for all equipments have been placed. First phase capacity expansion of 6000 MT per annum is likely to be operational by September, 2012.
(c) The Company has chosen to make foray into Composites having excellent growth potential. Work for its first Unit to Manufacture 4,00,000 Composite Cylinders at Halol in Gujarat is progressing well and likely to be in operation during October – December, 2012 quarter.
(d) The Company had earlier closed down its PVC Film business at Malanpur near Gwalior (M.P.) and disposed off the equipments. Land and Building of the same were available for new activities. The Company has now finalised its plan to use this facility to manufacture Plastic Piping system which would enable it to reach large markets of M.P, Chhattisgarh and nearby areas. Work for the same has started at accelerated pace and the unit shall be operational by October, 2012.
Outlook
During the current year, the Company envisages annual growth in volume and product value of about 10% and 20% respectively over the previous year.
About Supreme Industries Limited
Supreme Industries Limited is India’s leading processors of plastics, offering a wide and comprehensive range of plastic products in India. The company operates in various segments viz. Plastics Piping Systems, Protective Packaging Products, Industrial Components, Material Handling Systems, Cross Laminated Polyethylene Films & Products thereof, Furniture and Performance Packaging Films.
Supreme Industries has 19 technologically advanced manufacturing facilities located at various places spread across the country. The company has built-up excellent relationship with its distributors and is also providing orientation to them, in order to ensure proper service to ultimate customers.