NSE: SUPREMEIND · BSE: 509930
SUPREME INDUSTRIES LTD
Manufactures and sells plastic products across five segments. Plastic Piping is the largest at 69.3% of segment revenue, supplying PVC, CPVC and related piping systems for plumbing, agriculture, gas distribution and infrastructure; FY26 piping volumes grew 14% while the wider plastic piping industry shrank 9%. Packaging Products (14.6% of segment revenue) covers industrial packaging films and sheets, Industrial Products (11.4%) supplies material handling items such as crates and bins, and Consumer Products (3.9%) includes furniture and household plastic goods. New growth areas added in FY26 include a uPVC Windows and Doors unit in Uttar Pradesh that began production in March 2026, and the consolidated Wavin piping-systems business which was being normalised during the year. Polymer resins such as PVC are the dominant input at 67.3% of revenue, followed by other opex at 13.6% and employees at 5.2%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Plastic Piping Products (69%), Packaging Products (15%), Industrial Products (11%), Consumer Products (4%), Others (1%). Cyclical, polymer-cost-driven plastics manufacturer with FY26 EBITDA margin of 14.2454%
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 7,773 | 9,202 | 10,134 | 10,446 | 11,218 |
| EBITDA (ex other income) | 1,242 | 1,200 | 1,547 | 1,432 | 1,553 |
| margin % | 16.0 | 13.0 | 15.3 | 13.7 | 13.8 |
| Owners' profit | 968 | 865 | 1,070 | 961 | 0 |
| EPS, as reported (₹) | 76.24 | 68.12 | 84.21 | 75.64 | 75.10 |
| ROE % · ROCE % | 25.2 · 25.8 | 19.7 · 21.2 | 20.9 · 24.9 | 17.0 · 19.3 | 15.5 · 18.3 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 471 | 890 | 1,431 | 1,004 | 1,215 |
| Capex | (470) | (424) | (688) | (890) | (1,117) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,273 | 2,510 | 3,027 | 2,609 | 2,394 | 2,687 | 3,528 | 2,718 |
| Profit before tax | 242 | 223 | 334 | 240 | 203 | 197 | 501 | 281 |
| Net profit | 207 | 187 | 294 | 202 | 165 | 153 | 434 | 281 |
| EPS (₹) | 16.26 | 14.72 | 23.14 | 15.93 | 12.97 | 12.48 | 34.13 | 22.10 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Plastic Piping Products | 7,776 | 69.3 |
| Industrial Prodcuts | 359 | 3.2 |
| Packaging Prodcuts | 457 | 4.1 |
| Consumer Products | 334 | 3.0 |
| Others | 72 | 0.6 |
| Industrial Products | 920 | 8.2 |
| Pakacing Products | 390 | 3.5 |
| Packaging Products | 795 | 7.1 |
| Consumer Prodcuts | 103 | 0.9 |
| others | 12 | 0.1 |
| Total, before eliminations | 11,218 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SUPREME INDUSTRIES LTD ◆ | 41,024 | 39.5 | 6.65 | 25.3 | 15.5 | 17.9 | 12.0 | 15.0 |
| ASTRAL LIMITED | 36,600 | 63.5 | 9.02 | 33.0 | 13.2 | 16.9 | 15.6 | 15.5 |
| GARWARE HI-TECH FILMS LTD | 16,621 | 42.9 | 6.26 | 33.0 | 12.7 | 16.4 | 16.5 | 30.3 |
| KINGFA SCI & TEC IND LTD. | 9,296 | 41.2 | 6.64 | — | 13.2 | 17.7 | — | 16.9 |
| FINOLEX INDUSTRIES LTD | 8,740 | 14.2 | 1.41 | 10.3 | 9.6 | 11.8 | 3.5 | 20.6 |
| TIME TECHNOPLAST LTD. | 8,001 | 15.7 | 1.92 | 9.0 | 11.4 | 14.0 | 15.2 | 13.3 |
| PRINCE PIPES FITTINGS LTD | 2,861 | 28.0 | 1.74 | — | 4.5 | 5.6 | — | 13.3 |
| APOLLO PIPES LIMITED | 2,122 | — | 2.38 | 28.1 | 0.5 | 1.0 | — | 1.8 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 39.5 | 14.4 | 39 of 46 | 16% |
| P/B | 6.7 | 1.6 | 39 of 42 | 7% |
| ROCE | 17.9 | 7.0 | 9 of 56 | 86% |
| ROE | 15.5 | 7.6 | 4 of 45 | 93% |
| Debt / Equity | 0.0 | 0.2 | 1 of 45 | 82% |
| EBITDA margin | 15.0 | 11.6 | 13 of 43 | 71% |
| Revenue growth | 4.2 | 10.6 | 32 of 49 | 35% |
| Profit growth | 38.8 | 20.7 | 20 of 47 | 59% |
| Market cap | 41024 | 126 | 1 of 55 | 100% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Q2 FY27 PAT up 59% YoY; interim dividend of Rs 12 per share | compliance | minimal | — | — |
| 26 Oct 2026 · Audio recording of Q2 and half-year results call shared | investor communications | low | — | — |
| 26 Oct 2026 · Supreme Industries reports strong Q2 and H1 FY27 growth | investor communications | medium | — | — |
| 26 Oct 2026 · Q2 FY27 sales up 19%, revenue up 40% and EBITDA up 45% | investor communications | medium | — | — |
| 26 Oct 2026 · Q2 FY27 profit rises 44%, Rs 12 per share interim dividend declared | compliance | low | — | — |
| 26 Oct 2026 · Rs 12 interim dividend with October 30 record date | corporate actions | high | — | — |
| 26 Oct 2026 · Rs 12 interim dividend declared; October 30 record date | corporate actions | high | — | — |
| 26 Oct 2026 · September quarter profit up 59%, revenue up 40%, Rs 12 dividend | results | high | — | — |
| 19 Oct 2026 · Supreme Industries Q2FY27 earnings call set for 26 Oct 2026 | board shareholder meetings | low | — | — |
| 19 Oct 2026 · Board meeting on 26 Oct 2026 to consider Q2 results and interim dividend | results | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.