The Supreme Industries Limited (SIL) Announces Unaudited Consolidated Financial Results For The Third Quarter / Nine Months Ended 31st March, 2013.

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, 2013, at its Board Meeting held today.

Mumbai, Maharashtra, April 25, 2013 /India PRwire/ -- (A) The Company processed 2,01,125 MT of polymers and achieved net product turnover of Rs. 2,266.63 crores during the 9 months of the current year against processing of 1,77,439 MT and net product turnover of Rs 1,902.81 crores in the corresponding period of previous year achieving volume & product value growth of about 13% and 19% respectively.

(B) The consolidated financial performance highlights for the third quarter ended 31st March, 2013, are as follows -

  • Total Income and Operating Profit for the third quarter ended 31st March, 2013 amounted to Rs. 917.68 crores and Rs. 134.35 crores , as compared to Rs. 768.55 crores and Rs. 104.75 crores, for the corresponding quarter of the previous year, recording an increase of around 19.40% and 28.26% respectively.
  • The Profit before Tax and Profit after Tax amounted to Rs. 100.96 crores and Rs.75.83 crores respectively, as compared to Rs. 72.75 crores and Rs. 54.68 crores, for the corresponding quarter of the previous year.

(C) The consolidated financial performance highlights for the 9 months ended 31st March, 2013 (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. 2,350.30 crores and Rs. 338.50 crores as compared to Rs. 1,970.28 crores and Rs. 252.43 crores, for corresponding period of the previous year, recording an increase of around 19.29% and 34.10% respectively.
  • The Profit before Tax and Profit after Tax, for the 9 months of the current year amounted to Rs. 242.29 crores and Rs.181.16 crores respectively, as compared to Rs. 204.51 crores and Rs.115.91 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, 2013

Financial Results for the 9 months ended 31st March, 2013

2013

2012

Change (%)

2013

2012

Change (%)

Total Income

917.68

768.55

19.40

2350.30

2039.44

15.24

Operating Profit (PBDIT)

134.35

104.75

28.26

338.50

296.18

14.29

Cash Profit (PAT + D)

95.54

71.84

32.99

238.46

197.92

20.48

Profit Before Tax

100.96

72.75

38.78

242.29

204.51

18.47

Consolidated Net Profit after Tax

75.83

54.68

38.68

181.16

146.52

23.64

Expansion Plans

Company has committed capex plan of about Rs. 435 Crores and most of it has now been put to ground. Brief status of the same is summarised hereinbelow :

(a) New Unit at Hosur in Tamilnadu for Protective Packaging Products has commenced production during 1st quarter of the current year.

(b) All the three production lines having capacity of 4000 MT each for expanding capacities of Cross Laminated Film at new unit at Halol (Gujarat) has gone into production progressively commencing from October, 2012 to March, 2013.

(c) Trials have commenced at new state of the art plant at Halol (Gujarat) for production of Composite Cylinders. Installation is underway of the plant for Composite Pipes. Both the plants are likely to get stabilised during the quarter April-June, 2013.

(d) Plastic Piping System manufacturing facility being set up at Malanpur near Gwalior (M.P.) has gone into production beginning April, 2013 and full capacity with total investment of about Rs. 130 Crores shall be in production by May, 2013.

(e) New Product Range of Bath Fittings, which Company has planned to launch is in its final stage of readiness and likely to be in market by end of the current quarter.

(f) Augmenting of additional capacities, automation and installation of balancing equipments at existing locations in various product segments are progressing as per schedule.

Outlook

During the current year, the Company envisages annual growth in volume and product value of about 16% and 23% respectively over the previous year.

Notes to Editor

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. The Company has also taken initiative and is in advanced stage of implementation of new product segment made from Composite Plastics.

Supreme Industries has 22 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.

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