Supreme Industries records stagnant quarterly earnings
The Indian plastic production company Supreme Industries Ltd. remained nearly constant in its quarterly earnings. In Q3 FY20-21, it recorded a net income of Rs 1,843.77 crores. In Q3 FY21-22, it increased meagerly to Rs 1,945.12 crores, registering a 5.5% increase Y-o-Y.
It registered a mere profit of Rs 206.59 crores, which resulted in a loss as compared to the profits of RS 266.34 incurred the last fiscal year. Its equity share capital remained constant at Rs 25.41 crores. The Mumbai-based company stocks fell by 5.08% on closing. It marked an increase in consumption of raw materials, from Rs. 1,078.12 crores in December 2020, to Rs 1,317.50 crores this quarter. The company handles over 3,20,000 tonnes of polymers per year.
Supreme Industries is known for manufacturing PVC pipes, expanded polyethylene foam, industrial and engineering moulded furniture products, storage crates, multi-layer sheets, packaging films. It has forayed into various methods of plastic processing such as Injection Moulding, Rotational Moulding, Extrusion, Compression Moulding and Blow Moulding.