Q3 2024 Supreme Industries Ltd Earnings Call Transcript
Key Points
- Supreme Industries Ltd (BOM:509930) achieved a 14% volume growth and 6% product value growth in Q3 FY24 compared to the same quarter last year.
- The company reported a 21% increase in consolidated operating profit and a 22% increase in profit after tax for Q3 FY24 compared to Q3 FY23.
- The plastic piping system business grew by 17% in volume and 9% in value terms in Q3 FY24.
- Supreme Industries Ltd (BOM:509930) has a total cash surplus of INR586 crores as of December 31, 2023.
- The company is expanding its product range and entering new markets, including the introduction of CPVC pipe systems for industrial applications and HDPE pipes for carrying natural gas.
- The consumer products segment experienced a 3% decline in both volume and value terms in Q3 FY24.
- The industrial product segment saw a 1% decline in value terms despite a 10% increase in volume.
- The company faced an inventory loss in the piping division, with a valuation decrease of INR51 crores over nine months.
- The business scenario in the industrial component division remains weak due to low demand from appliances and white goods sectors.
- The company’s cash surplus decreased from INR738 crores as of March 31, 2023, to INR586 crores as of December 31, 2023.
Ladies and gentlemen, good day, and welcome to The Supreme Industries Q3 FY24 earnings conference call hosted by DAM Capital Advisors Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Aasim Bharde from DAM Capital Advisors Limited. Thank you, and over to you, sir.
Yes. Thank you, Muskan, and good evening, everyone. On behalf of DAM Capital, I'm happy to welcome you to Supreme Industries Q3 post results call. From the management side, we have online Mr. M.P. Taparia, Managing Director; Mr. P.C. Somani, CFO; and Mr. R.J. Saboo, Company Secretary.
Over to you, Mr. Taparia for your initial comments.
Thank you very much. I am M.P. Taparia, Managing Director of The Supreme Industries Limited. I, along with my colleagues, Shri P.C. Somani, CFO; and Shri R.J. Saboo, Vice President, Corporate Affairs and Company Secretary, welcome
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