The Supreme Industries Limited

The Supreme Industries Limited (SIL), India's leading processors of Plastics, announced its Un-audited financial results for the first quarter ended 30th September, 2012, at its Board Meeting held today.

Mumbai, Maharashtra, October 29, 2012 /India PRwire/ -- The Supreme Industries Limited (SIL), India's leading processors of Plastics, announced its Un-audited financial results for the first quarter ended 30th September, 2012, at its Board Meeting held today.

The Company processed 60,012 MT of polymers and achieved net product turnover of Rs.596.73 crores during the 1st quarter of the current year against processing of 46,761 MT and net product turnover of Rs.459.03 crores in the corresponding quarter of previous year achieving volume & product value growth of about 28 % and 30% respectively.

The consolidated financial performance highlights (excluding Construction business) for the 1st Quarter ended 30th September, 2012, are as follows -

SIL's, Total Income and Operating Profit for the 1st quarter of the current year amounted to Rs. 617.64 crores and Rs. 84.78 crores, as compared to Rs. 480.43 crores and Rs. 58.35 crores, for the corresponding quarter of the previous year, recording an increase of 28.55% and 45.29% respectively.

The Profit before Tax and Profit after Tax, for the 1st quarter of the current year amounted to Rs. 54.80 crores and Rs. 38.97 crores, as compared to Rs. 28.75 crores and Rs. 23.59 crores, for the corresponding quarter of the previous year, recording an increase of 84.47% and 65.19% respectively.

The consolidated financial performance (including Construction business) is summarized below -

(Rs. in crores)

Particulars

Financial Results for the 1st

Financial Results for

Quarter year ended 30th

the year ended 30th

September

June 2012

2012

2011

Change

(%)

Total Income

617.64

501.18

23.24

2965.65

Operating Profit (PBDIT)

84.78

71.09

19.26

471.89

Cash Profit (PAT + D)

57.54

49.70

15.77

314.77

Profit Before Tax

54.80

41.56

31.86

347.41

Net Profit After Tax

38.97

32.55

19.72

241.68

During the current year the Company envisages annual growth in volume and product value of about 16% and 25% respectively over the previous year.

Mr. M. P. Taparia, Managing Director, The Supreme Industries Limited, said:

Company has envisaged Capex plan of about Rs.400 crores during the year. All investment plans are progressing well. Brief status of the same is summarised hereinbelow:

New Unit at Hosur in Tamilnadu for Protective Packaging Products with an investment of about Rs.25 crores has commenced production during September, 2012.

Construction of most of the buildings at New Unit for expanding capacities of Cross laminated Film at Halol (Gujarat) is completed. Installation of 4000 MT capacity line is over and became operational during October,2012. Further capacity of 8000 MT is likely to be operational in tranches of 4000 MT each by January,2013 and March,2013 respectively.

Work on Company┬ęs site for Composite Cylinders and Pipes at Halol (Gujarat) is progressing well. Construction of building work is in final stage of completion. Equipments for its first Unit to Manufacture 5,00,000 Composite cylinders and Production Line for Composite Pipes for Oil & Gas exploration application are being shipped by the respective suppliers and likely to be commissioned and operational during January - March, 2013.

The Company┬ęs plan to set up Plastic Piping System manufacturing facility at its earlier closed down PVC Film business unit at Malanpur near Gwalior (M.P.) is progressing well. First phase capacity involving capital investment of about Rs.65 crores is likely be operational by November,2012 and full capacity with further investment of about Rs.60 Crores shall be in production by March,2013.

Augmenting of additional capacities, Automation and installation of balancing equipments at existing locations in various product segments are progressing well.

Notes to Editor

About Supreme Industries Limited

The 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 System, Packaging Products, Industrial Components, Material handling system, Cross Laminated Polyethylene Films & Products thereof and Furniture.

Supreme Industries has 20 technologically advanced manufacturing facilities located at various places spread across the country. Before March, 2013, the Company will have 22 manufacturing sites in operation. 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.

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